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  • #20,401
  • Sep 4, 2023 12:22am Sep 4, 2023 12:22am
Quoting Expo33
{quote} Under their FAQ page, they talk about whether or not you can switch brokers during the challenge phase. That's all I could find https://fundedengineer.com/faq/ {image}
Its Funded Engineer prop firm. I am asking the brokers of 5%ers.Anyway thanks for the reply.
I have make a research about on behalf of the location and liquidity providers. I think The FundedNext is best as per the location because they are located in UAE and they have mentioned on their website that Canadian and US government laws don't affect them but a little doubt about their Broker at present.Because in the past they were using EightCap broker and it was regulated by the authorities but now they are providing 2 different brokers for MT4 and MT5 and both of seems non regulated as MFf. But 5%ers are best because they are using commercial liquidity providers and they have mentioned on their website that they have not issue with the regulations even US because because they can provide the authenticated documents if any authority demand.
as per the location 5%ers are located in Israel with proper registration in Israel and UK.
https://the5ers.com/ufaqs/where-are-we-registered/
  • #20,402
  • Sep 4, 2023 12:33am Sep 4, 2023 12:33am
Quoting parveenverma
{quote} Its Funded Engineer prop firm. I am asking the brokers of 5%ers.Anyway thanks for the reply. I have make a research about on behalf of the location and liquidity providers. I think The FundedNext is best as per the location because they are located in UAE and they have mentioned on their website that Canadian and US government laws don't affect them but a little doubt about their Broker at present.Because in the past they were using EightCap broker and it was regulated by the authorities but now they are providing 2 different brokers for...
5ers has their own. I think you may be able to download the software here, even not having any account:
https://download.mql5.com/cdn/web/fi...line5setup.exe
  • #20,403
  • Sep 4, 2023 12:34am Sep 4, 2023 12:34am
Quoting KoyaAndy18
Bought my first ever 100k challenge and its through 5ers wish me luck guys. I still believe MFF is legit although with all the allegations, and I am still thankful with them. But just in case they lost their battle, 5ers now is my new home and my go to prop firm. Hoping that US and CA regulators will not come after the Israelites. {image}
Good luck mate. Just pay attention for the 2 minutes news rule if you trade frequently
  • #20,404
  • Sep 4, 2023 12:42am Sep 4, 2023 12:42am
Quoting parveenverma
{quote} Its Funded Engineer prop firm. I am asking the brokers of 5%ers.Anyway thanks for the reply. I have make a research about on behalf of the location and liquidity providers. I think The FundedNext is best as per the location because they are located in UAE and they have mentioned on their website that Canadian and US government laws don't affect them but a little doubt about their Broker at present.Because in the past they were using EightCap broker and it was regulated by the authorities but now they are providing 2 different brokers for...
I never mentioned the 5ers in my original post.
Pride always comes before destruction.... -Proverbs 16:18
  • #20,405
  • Sep 4, 2023 12:46am Sep 4, 2023 12:46am
Quoting Expo33
{quote} I never mentioned the 5ers in my original post.
It ok......Thanks for the reply. I quote the question because that time members were discussing about 5%ers.
  • #20,406
  • Sep 4, 2023 1:46am Sep 4, 2023 1:46am
Quoting Capablanca
{quote} Good luck mate. Just pay attention for the 2 minutes news rule if you trade frequently
Dang, I'm out.
  • #20,407
  • Sep 4, 2023 1:48am Sep 4, 2023 1:48am
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  • #20,408
  • Sep 4, 2023 2:03am Sep 4, 2023 2:03am
5%ers High stakes 100%profit split and salary is a good place to be there when you scaled upto 5ook
on a postive roll...
  • #20,409
  • Sep 4, 2023 3:00am Sep 4, 2023 3:00am
Quoting Capablanca
{quote} Good luck mate. Just pay attention for the 2 minutes news rule if you trade frequently

their 2 minutes rules applicable for news traders. if trade opened few hours ago or earlier than that than no issue if that closed during news time by hitting sl or tp. according to their live chat. ill mail to them to get confirmation again
  • #20,410
  • Sep 4, 2023 3:18am Sep 4, 2023 3:18am
Quoting inversio
{quote} their 2 minutes rules applicable for news traders. if trade opened few hours ago or earlier than that than no issue if that closed during news time by hitting sl or tp. according to their live chat. ill mail to them to get confirmation again
That's what I read as well. That's why I mentions if he trades frequently. If not I hope is not a problem. I also have a funded with them.
If you get a confirmation would be nice if you could share. Thanks.
  • #20,411
  • Sep 4, 2023 3:24am Sep 4, 2023 3:24am
Anybody has some experience with Nordic Funder, they are powered by Scandinavian Capital Markets. Their scaling plan is very interesting even though the entry fees and commission kinda high, beside the trailing drawdown rule seems like a problem too. But apart from that everything looks legit to me, long-term broker backup, headquarters in Sweden
  • #20,412
  • Sep 4, 2023 3:49am Sep 4, 2023 3:49am
Quoting longcanlun12
Anybody has some experience with Nordic Funder, they are powered by Scandinavian Capital Markets. Their scaling plan is very interesting even though the entry fees and commission kinda high, beside the trailing drawdown rule seems like a problem too. But apart from that everything looks legit to me, long-term broker backup, headquarters in Sweden

I remember looking into them before. Trailing drawdown and very expensive.
No thanks.
  • #20,413
  • Sep 4, 2023 4:05am Sep 4, 2023 4:05am
Quoting parveenverma
{quote}I think The FundedNext is best as per the location because they are located in UAE and they have mentioned on their website that Canadian and US government laws don't affect them but a little doubt about their Broker at present.

But 5%ers are best because they are using commercial liquidity providers and they have mentioned on their website that they have not issue with the regulations even US because because they can provide the authenticated documents if any authority demand. as per the location 5%ers are located in Israel with proper...
I am currently in challenges on both. But FundedNext has a terrible reputation (that i discovered too late) for finding a way to close your account before payout. I'm actually in the process of getting a refund on my 3rd challenge that i haven't started, still waiting for the money one week after. And the support did everything not to refund me, like replying to my messages in the chat, and suddenly not replying to my message about a refund (even though it was marked as "read" on their side). This doesn't help the rumors about them... i'll wait and see if i pass the challenges.

On the other hand 5ers seem more honest. The CEO and Founder are very present, and pretty open about the practices they do. They want traders to succeed, because they then copy their trade. Probably a better move long term. But yet again, we can never know for sure...
  • #20,414
  • Sep 4, 2023 4:34am Sep 4, 2023 4:34am
Quoting LehmanBrotha
{quote} I remember looking into them before. Trailing drawdown and very expensive. No thanks.
Yes, you're right, trailing drawdown is a pain in the a**, but I heard some guys say they kinda solid, like they don't have ridiculous slippage, or spread, the support team is on point and the most important one is payout is on time no excuses. So yeah need some more feedback from someone currently trading with them. Cause right now I think the most important criteria to choose a prob is their legit and transparent business not about the fees like we used too. Disclaimer, I don't get paid by them to promote tho
  • #20,415
  • Sep 4, 2023 4:47am Sep 4, 2023 4:47am
Quoting longcanlun12
Anybody has some experience with Nordic Funder, they are powered by Scandinavian Capital Markets. Their scaling plan is very interesting even though the entry fees and commission kinda high, beside the trailing drawdown rule seems like a problem too. But apart from that everything looks legit to me, long-term broker backup, headquarters in Sweden
Trailing draw down and seriously their prices are outrageous.

$450 for a 50K account and $800 for 100K?

With coupons, we can get 100K accounts for less than $450 with props that have a static drawdown and a longer track record of payouts.

A huge NO to Nordic Funder for me.
Pride always comes before destruction.... -Proverbs 16:18
  • #20,416
  • Sep 4, 2023 4:51am Sep 4, 2023 4:51am
Quoting longcanlun12
{quote} Yes, you're right, trailing drawdown is a pain in the a**, but I heard some guys say they kinda solid, like they don't have ridiculous slippage, or spread, the support team is on point and the most important one is payout is on time no excuses. So yeah need some more feedback from someone currently trading with them. Cause right now I think the most important criteria to choose a prob is their legit and transparent business not about the fees like we used too. Disclaimer, I don't get paid by them to promote tho
This is correct.

However, Trailing drawdown is only good for them, and not for you.

Let us explore how: Lets say you're a good trader and they STP you. They assign your max drawdown as account risk and keep moving the goalposts, if you breach the acc - the difference between the profits earned and the max trailing drawdown is their profit. IF they're one of companies that dont pay after breaching.

However, trailing drawdown companies close your account if you withdraw all the profits. Like, what's the logic there? You say you want profitable traders but you punish them by closing their accounts when they make money? It doesn't add up and MFF example shows us why.

Trailing drawdown is one of worse scams in prop.
  • #20,417
  • Sep 4, 2023 5:22am Sep 4, 2023 5:22am
Worried about your prop firm ? Brew up a cuppa.
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every Saint has a past. Every Sinner has a Future
  • #20,418
  • Sep 4, 2023 5:31am Sep 4, 2023 5:31am
Quoting turnip15
Worried about your prop firm ? Brew up a cuppa. {image}
Plenty of options out there.
The market is very competitive. Just stay away from the USA and CAD-based ones.
Success = Practice + Patience + Persistence
  • #20,419
  • Sep 4, 2023 5:38am Sep 4, 2023 5:38am
Quoting longcanlun12
{quote} Yes, you're right, trailing drawdown is a pain in the a**, but I heard some guys say they kinda solid, like they don't have ridiculous slippage, or spread, the support team is on point and the most important one is payout is on time no excuses. So yeah need some more feedback from someone currently trading with them. Cause right now I think the most important criteria to choose a prob is their legit and transparent business not about the fees like we used too. Disclaimer, I don't get paid by them to promote tho
A schematic view of the Trailing drawdown

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Success = Practice + Patience + Persistence
  • #20,420
  • Sep 4, 2023 5:45am Sep 4, 2023 5:45am
From CFTC website:

"In FY 2022, the CFTC obtained orders imposing over $2.5 billion in restitution, disgorgement and civil monetary penalties either through settlement or litigation."

Note to self: Never, EVER get involved with a US based/Canadian finance entity.
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