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  • #20,601
  • Sep 4, 2023 1:52pm Sep 4, 2023 1:52pm
Quoting Nsak3y
{quote}-Well, if we are being truly objective and honest about it, the daily draw-down did serve that purpose. If the funds were coming originally from the pockets of the firm, then a different argument could be made, but the truth is, they weren't, and if you violated the daily, then you lost the account, even if the overall balance was net-positive. Since there was no real capital originating from the firm in order to fund the account, the daily draw-down did not actually serve the purpose of protecting the fund's capital, it served the purpose...
There are a few angles which they'll find difficult to defend if evidence proves that it was all B book, not least commissions charged per trade and swaps. Costs in effect taken from a contractor that were never true costs to the employer? I'm squirming now just thinking about it.

I do wonder if they introduced no time limits having sniffed this was on the horizon? We said all along it couldn't have been easily explained why you claim to be recruiting but employ conditions not real to life and then reverse those said conditions if you were lucky to get the account.

But all this squawking by people is endemic of the world we live in today isn't it? They want it no risk, no cost, and believe they should be protected by all the powers of the land and still complain when they lose.

On balance prop firms provide the only chance for some to escape the rat race and change their circumstances. The ones calling it out probably don't know how to make money from the markets or are hobby traders hiding from the wife.

MFF paid traders, i profited from them and knew the rules and conditions. I knew (or suspected) when I was been misled by commissions and b booking type conditions but I still made money from it so I have no complaints. If you could trade they paid out. Simple as that.
  • #20,602
  • Sep 4, 2023 1:55pm Sep 4, 2023 1:55pm
(BFP) Bespoke score is 6.6 with actual -22.5% & 87.5% profit split promo code (FUNDED), only FYI.
Very good offer to me. But they are NOT Scalper friendly. Averaging down not possible too.
  • #20,603
  • Sep 4, 2023 2:01pm Sep 4, 2023 2:01pm
Bespoke CEO not stupid. He changed 8cap MT5 to Thinkmarkets MT5 because datafeed can be easily exploited. A lof of prop firms do not care but then do NOT payout.
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  • #20,604
  • Sep 4, 2023 2:03pm Sep 4, 2023 2:03pm
Quoting TraderTero
{quote} US based: 401 Pine Street, Saint Louis MO 63102
ah, my mistake...
thought the vid said UK based. Probably "USA" based...
  • #20,605
  • Sep 4, 2023 2:04pm Sep 4, 2023 2:04pm
Quoting Lrg
{quote} Just got back from a weekend away and can't believe all the drama with MFF, its so sad. Hope everything works out for them. Took me a while to save up some money and early last week I purchased their 2 phase eval and took 4 trades...lol and now all this. I think you mentioned in your previous post that you traded with RYZE. How was your experience with them, if not good then I'll go with FXIFY. I'll appreciate input from other traders as well regarding prop firms. I'm looking for a low priced eval at this stage. Thankx guys. I really hope...
In my opinion, i think u should look to those props that have an established track record of paying out traders, that don t find many excuses or have hindering rules etc. Would be a shame to go for the low priced offers and then when u finally get to a payout they tell u that u have 2 many IPs or some other BS excuse.
Also i tottaly agre with that Moving Average guy about what said in the end, this is what we choose, it s not easy to be a trader, life stinks but thne it gets better. So moving on and milk the rest of the props as much as u can, reinvest, diversify and so on, so when something like this occurs again ur not caught by surprise and u have something to fall back on.
  • #20,606
  • Sep 4, 2023 2:08pm Sep 4, 2023 2:08pm
The fastest growing prop firm in recent months. I do not have by my hand google statistics. But here are payout stats latest.
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  • #20,607
  • Sep 4, 2023 2:09pm Sep 4, 2023 2:09pm
Quoting KoyaAndy18
MyForexFunds Ponzi Scheme Explained - YouTube so his intro says MFF officially closed, so meaning the fight is over?
A simple CFTC search would tell you its not officially closed. Its frozen until 11 september when a court date is set to decide if it remains frozen.

But lets not let youtube lawyers get in the way of a good story.
  • #20,608
  • Sep 4, 2023 2:14pm Sep 4, 2023 2:14pm
Quoting TrAndy1
Bespoke CEO not stupid. He changed 8cap MT5 to Thinkmarkets MT5 because datafeed can be easily exploited. A lof of prop firms do not care but then do NOT payout. {image}
8cap is better than thinkmarkets in conditions. But we are back again in the round about conversation. The "profile" set up is different on the two brokers, 8cap you can arb and tick scalp. Thinkmarkets you can't. The only way this happens is with profiles and latency because metatrader sucks that way.

Off to the CFTC with bespoke then.
  • #20,609
  • Sep 4, 2023 2:17pm Sep 4, 2023 2:17pm
Quoting TraderTero
{quote} I believe that you have been happy to receive your share form the inexperienced traders losses There is also often SL hunting connected to roll over spreads by props and brokers. The whole RO spread widening is a rip off created by the LP's (banks).
It's the same way brokers paying winning traders. Go to any broker webiste it states they are the counterparty to your trade....you win, they lose and vice versa. Losers pay the winners and since there are so many more losers, that is broker profit. It really sounds like the same exact thing, doesn't it?
100 people deposit 1000 dollars, 90 people lose 90,000, 10 people win 10,000. Broker keeps the difference.
MFF collected 300 million, they paid out 137 million, MFF kept the difference.
Spreads, slippage, rollover, etc were BETTER at MFF than at any real world broker.
The spread widening at rollover occurs because there is no liquidity, same at news time. MOST people DO NOT TRADE news, therefore, no liquidity.
Do some brokers/ firms manipulate it more than others....of course, because they can, but this happens at "regualted" brokers all day, every day.
Here's the deal......MFF provided me with 24 times the capital I would have had on my own, they always paid me, their conditions were better than market and the BIGGIE......none of my personal money was at stake. So yes, I and anyone successfully trading at MFF just got royaling screwed by regulators who allow the brokers under their watch to do the same thing......EXCUSE ME FOR BEING PISSED OFF
  • #20,610
  • Sep 4, 2023 2:32pm Sep 4, 2023 2:32pm
I traded same on 8cap and Thinkmarkets and I have better swaps and less slippage with Thinkmarkets, only commissions is a bit higher than 8cap. My experience.
Usually I traded around 8 to 15 lots per single order on both brokers. Overall I have less trading cost for fills, slippage, spreads, swaps and comms on Thinkmarkets.
  • #20,611
  • Sep 4, 2023 2:39pm Sep 4, 2023 2:39pm
Quoting TrAndy1
The fastest growing prop firm in recent months. I do not have by my hand google statistics. But here are payout stats latest. {image}
Here are the traffic stats for July. They have about 1/10 traffic of MyFunded FX, which is itself way behind TFT
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  • #20,612
  • Sep 4, 2023 2:44pm Sep 4, 2023 2:44pm
Does anyone know if props accept a partnership (2 traders living in different countries) or an incorporated entity?
  • #20,613
  • Sep 4, 2023 2:45pm Sep 4, 2023 2:45pm
Quoting TrAndy1
(BFP) Bespoke score is 6.6 with actual -22.5% & 87.5% profit split promo code (FUNDED), only FYI. Very good offer to me. But they are NOT Scalper friendly. Averaging down not possible too.
thanks! but, yes... they're not a great fit for me.

Probably back to FTMO, eventually. Will give the MFF thing a chance to settle, first, though...
  • #20,614
  • Sep 4, 2023 2:47pm Sep 4, 2023 2:47pm
Quoting pipmaster77
{quote} It's the same way brokers paying winning traders. Go to any broker webiste it states they are the counterparty to your trade....you win, they lose and vice versa. Losers pay the winners and since there are so many more losers, that is broker profit. It really sounds like the same exact thing, doesn't it? 100 people deposit 1000 dollars, 90 people lose 90,000, 10 people win 10,000. Broker keeps the difference. MFF collected 300 million, they paid out 137 million, MFF kept the difference. Spreads, slippage, rollover, etc were BETTER at MFF...
and the best thing is

Regulation won't prevent losers from blowing their money somewhere, it will just prevent the likes of you from profiting from this situation.
  • #20,615
  • Sep 4, 2023 2:51pm Sep 4, 2023 2:51pm
Quoting pipmaster77
{quote} It's the same way brokers paying winning traders. Go to any broker webiste it states they are the counterparty to your trade....you win, they lose and vice versa. Losers pay the winners and since there are so many more losers, that is broker profit. It really sounds like the same exact thing, doesn't it? 100 people deposit 1000 dollars, 90 people lose 90,000, 10 people win 10,000. Broker keeps the difference. MFF collected 300 million, they paid out 137 million, MFF kept the difference. Spreads, slippage, rollover, etc were BETTER at MFF...
Totally agree but in reality if the banks wanted there would be enough liquidity during RO. LP's could even stop trading like with commodities during RO but they don't because its beneficial for them.
  • #20,616
  • Sep 4, 2023 2:51pm Sep 4, 2023 2:51pm
Quoting LehmanBrotha
{quote} Here are the traffic stats for July. They have about 1/10 traffic of MyFunded FX, which is itself way behind TFT {image}
With TFT and Smartproptrader and MFFX based in USA you need to add (now). Bespoke started in September 2022, so 1 year old now. Anyone else is much older on that google list. Bespoke will add offshore St. Kitts and Nevis as additional layer to their UK location. Just to get it safer. It is already in progress and within 2 weeks done. The CEO reacts fast.
  • #20,617
  • Sep 4, 2023 2:52pm Sep 4, 2023 2:52pm
Quoting OutThere
Does anyone know if props accept a partnership (2 traders living in different countries) or an incorporated entity?
yes Bespoke accept firms as entity for them too.
  • #20,618
  • Sep 4, 2023 2:58pm Sep 4, 2023 2:58pm
I wonder if Mattl CEO still welcomes US regulation!
  • #20,619
  • Sep 4, 2023 3:06pm Sep 4, 2023 3:06pm
Its been about 4 days since MFF folded and so far only one CEO had the guts to go public and issue a quiet extensive statement. All the rest of them stay silent. Who knows, they might still appear once they get the goahead from their attorneys. On the internet, they try hard to keep the game going.Allegedly, firms outside the US are safe. No, they are not. Just about all of them accepted US clients, thats all what matters. Once they accept US citizens and US authorities smell fraud, they will go after these firms, it dont matter if they are registered in Europe, in Fidji or UAE. Its probably true that some jurisdictions could care less about US authorities, but Europe and Anglo countries aint part of them and they will be happy to provide assistance, no questions asked. The Kim Dotcom case might be a good example for a reference. Currently on Youtube, every imaginable “expert” is inviting every imaginable other “expert” to give their “expert” opinion. Well allright, I am not an expert. What I am thinking is this.If all traders that still have the urge to pay for a challenge would stop funding these companies just for three months, we would find out real fast who is legit and who aint. If the business model is based on collecting fees, provided anyone cares, then these companies will fold as fast as lightning. You will read about cuts not being paid out all over the internet. The past few weeks...and pretty much in lockstep... all of them scrapped the time limit for the challenges. If the business model is based on collecting fees, that dont make any sense. But if on top of that, they also dont trade any real funds , that is even a lot more suspicious, especially if they supposedly pay out up to 90% of profits. That is, unless the new unrestricted time rules have the sole purpose of luring in as many traders as possible before this whole game breaks into pieces. 3 months of restraint is all it takes to find out. If they trade real funds, nothing to worry about because these firms can do with their money whatever they want.
  • #20,620
  • Sep 4, 2023 3:12pm Sep 4, 2023 3:12pm
Quoting TrAndy1
{quote} With TFT and Smartproptrader and MFFX based in USA you need to add (now). Bespoke started in September 2022, so 1 year old now. Anyone else is much older on that google list. Bespoke will add offshore St. Kitts and Nevis as additional layer to their UK location. Just to get it safer. It is already in progress and within 2 weeks done. The CEO reacts fast.
You are so aggressively pushing that company that it your bias becomes blatantly obvious. Either as having a personal connection to the firm, a paid promotor, or an unbiased zealot driven by a high personal investment into those 800k of funding, aka hopium.

The purpose of this topic is to discuss the best deals, not to be advocates for whatever firm. I would not touch BFP when compared to Alpha Capital and FXIFY which seem to be run by uncomparably more experienced people.

And to add, I wouldn't even go beyond 2 companies from the same country, given the odds.


To add, Funded Engineer claimed 770k payments in August. They exist for what, like 4 months or something? Now that's growth.
We'll see if it is sustainable.
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