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  • #20,861
  • Sep 6, 2023 8:27am Sep 6, 2023 8:27am
Quoting ForexGalVA
{quote} 5ers? Founded 2016. Registered in UK and Israel. One of their LPs is Interactive Brokers in Connecticut per the video the CEO did a couple days ago. Limited to $100k max account before scaling on two-step High Stakes program as I understand it (my info may be wrong).
For 5ers, one thing that puts me off the high stakes program is the 'Minimum Profitable Days' rule (I prefer prop firms with the same usual vanilla rules that E8/TFTP/MFF/FTMO have and nothing that could catch me out)
Your worst drawdown is yet to come
  • #20,862
  • Sep 6, 2023 8:33am Sep 6, 2023 8:33am
Quoting DeltaCapital
The thing is all prop firms no matter were they located, if they sell to US citizens they are at risk of CFTC suing them, and from a new i saw from 23rd august firms have 60 days to respond and 365 days to comply with CFTC laws, so in a year maybe prop firms will not be avaiable to US citizens or maybe only futures
Where did you see this? If this could be true, maybe this buys US residents a year? Maybe?
  • #20,863
  • Sep 6, 2023 8:39am Sep 6, 2023 8:39am
Quoting nebby
{quote} For 5ers, one thing that puts me off the high stakes program is the 'Minimum Profitable Days' rule
Agreed, it is a weird rule. I checked into it, you need 3 profitable days that are .5% or better in each phase of the challenge. Not per trade, per trading day. You likely do that or better.
  • #20,864
  • Sep 6, 2023 8:40am Sep 6, 2023 8:40am
Quoting ForexGalVA
{quote} Where did you see this? If this could be true, maybe this buys US residents a year? Maybe?
This does not apply to this space. It is for the more traditional prop model.
  • #20,865
  • Sep 6, 2023 8:51am Sep 6, 2023 8:51am
Quoting ForexGalVA
{quote} Where did you see this? If this could be true, maybe this buys US residents a year? Maybe?
https://www.thetradenews.com/majorit...nded-sec-rule/
  • #20,866
  • Sep 6, 2023 9:14am Sep 6, 2023 9:14am
Again, proper, regulated Oanda shut down for 5 minutes at news time. According to them EUR/USD didn't just make a lower low. Nope, nothing to see here, not a scam.
But every prop that I'm looking at are scams for showing the lower low.
  • #20,867
  • Sep 6, 2023 9:21am Sep 6, 2023 9:21am
Quoting noox
Again, proper, regulated Oanda shut down for 5 minutes at news time. According to them EUR/USD didn't just make a lower low. Nope, nothing to see here, not a scam. But every prop that I'm looking at are scams for showing the lower low.
Was that the $10 round turn Core pricing feed?
  • #20,868
  • Sep 6, 2023 9:25am Sep 6, 2023 9:25am
Quoting noox
Again, proper, regulated Oanda shut down for 5 minutes at news time. According to them EUR/USD didn't just make a lower low. Nope, nothing to see here, not a scam. But every prop that I'm looking at are scams for showing the lower low.
Maybe Oanda and Forex.com 'lobbied' CFTC to investigate MFF because MFF 'stole' a lot of US customers from them.
  • #20,869
  • Sep 6, 2023 9:40am Sep 6, 2023 9:40am
Quoting noox
Again, proper, regulated Oanda shut down for 5 minutes at news time. According to them EUR/USD didn't just make a lower low. Nope, nothing to see here, not a scam. But every prop that I'm looking at are scams for showing the lower low.
Now that MFF discord is shut down who will be the victim of all the suckers blame that got caught by the ISM data movement today ?

I guess nobody because all the other props, except MFF, are legit ones.
  • #20,870
  • Sep 6, 2023 9:58am Sep 6, 2023 9:58am
Quoting noox
Again, proper, regulated Oanda shut down for 5 minutes at news time. According to them EUR/USD didn't just make a lower low. Nope, nothing to see here, not a scam. But every prop that I'm looking at are scams for showing the lower low.
Truly amazing, isn't it?
  • #20,871
  • Sep 6, 2023 9:59am Sep 6, 2023 9:59am
Quoting CableJ
{quote} Was that the $10 round turn Core pricing feed?
lol, too boot, it's freaking $10 round turn.......man, Thank God, they are protecting me from other brokers and prop firms.
  • #20,872
  • Sep 6, 2023 9:59am Sep 6, 2023 9:59am
It is foolish to think that the CFTC would ignore offshore prop firms. Extremely foolish.

This allegation comes from a matter of size, not a matter of operation. If MFF was small, they would not be doing this, they would find someone bigger to do it to.

I think there are going to be fireworks.
  • #20,873
  • Sep 6, 2023 10:03am Sep 6, 2023 10:03am
Quoting ladder
{quote} Maybe Oanda and Forex.com 'lobbied' CFTC to investigate MFF because MFF 'stole' a lot of US customers from them.
Ya think? I say that and I'm a conspiracy theorist. Everything is on the up and up, nothing new to see here. Now everyone run out and make sure you get that 7th booster to protect you from the virus.....NBC News and the NY Times just said so.
  • #20,874
  • Sep 6, 2023 10:16am Sep 6, 2023 10:16am
Quoting OutThere
You just found an umbrella organization under which you were happily receiving fees from the traders who got burnt. I know it's all about me me me with your type.
-This is how trading works. Losers pay the winners.
  • #20,875
  • Sep 6, 2023 10:16am Sep 6, 2023 10:16am
Quoting Takisd
It is foolish to think that the CFTC would ignore offshore prop firms. Extremely foolish. This allegation comes from a matter of size, not a matter of operation. If MFF was small, they would not be doing this, they would find someone bigger to do it to. I think there are going to be fireworks.
They won't but not much they can do about off shores accepting US clients as there are still many off shore brokers also accepting US clients. Most them have been doing so for many years. Many of them have also their own servers and probably very willing to onboard off shore props.
  • #20,876
  • Sep 6, 2023 10:16am Sep 6, 2023 10:16am
Quoting Takisd
There has been no court, no trial, no ability to vindicate. But it would appear a bunch of folks are looking to get the rope out. My guess is people who are awful traders.
-The same type of people that believe everything that the media tells them, no questions asked.
  • #20,877
  • Sep 6, 2023 10:18am Sep 6, 2023 10:18am
Quoting Nsak3y
{quote}-This is how trading works. Losers pay the winners.
I was under the same impression. Guess we must be wrong??
  • #20,878
  • Sep 6, 2023 10:49am Sep 6, 2023 10:49am
Bespoke eating shit by money laundering in pakistan.

What a dramatic place we operate in.
  • #20,879
  • Sep 6, 2023 10:53am Sep 6, 2023 10:53am
Quoting TraderTero
{quote} They won't but not much they can do about off shores accepting US clients as there are still many off shore brokers also accepting US clients. Most them have been doing so for many years. Many of them have also their own servers and probably very willing to onboard off shore props.
I would be surprised is some of them do 3 million per year let alone 300. Size matters.
  • #20,880
  • Sep 6, 2023 10:57am Sep 6, 2023 10:57am
Quoting Takisd
{quote} I would be surprised is some of them do 3 million per year let alone 300. Size matters.
The demand is so big that no regulator can stop it. Money talks.

It would be interesting to know how big part of the MFF clientele were US citizens. My guess is about 30%.
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