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Anyone trading with a Prop firm 31 replies

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  • #21,901
  • Sep 15, 2023 6:29pm Sep 15, 2023 6:29pm
Quoting Nsak3y
{quote}-The catch is, you still have to risk your own money (initially) for the challenge, and you still have to pass each phase of the challenge. There is also the fact that the account size is not really 100k, only the buying power is, which is basically leverage on steroids (a nice tool to trip up traders). Some props require you to trade live for a while before getting a withdrawal (including your refund). Just another trick to try to trip up traders and grab their money. Beyond that, any firm that does not like your trading can terminate your...
or virtual ponzi pie.....sounds delish
  • #21,902
  • Sep 15, 2023 6:33pm Sep 15, 2023 6:33pm
Quoting pipmaster77
or virtual ponzi pie.....sounds delish
-Yeah, it's pretty great. You pay for the challenge with real money. You get paid out with real money. But everything that happens in between is fake and not real and nothing to see here.

I seriously question if some of these firms have any legal counsel like they claim, or, if they are making executive decisions without proper consult.
  • #21,903
  • Sep 15, 2023 6:37pm Sep 15, 2023 6:37pm
Quoting Nsak3y
{quote}-Yeah, it's pretty great. You pay for the challenge with real money. You get paid out with real money. But everything that happens in between is fake and not real and nothing to see here. I seriously question if some of these firms have any legal counsel like they claim, or, if they are making executive decisions without proper consult.
Too any people concerned about what happens in between....put money in, trade, take money out, pretty simple. Trading with props for over 3 years, didn't feel any different than a broker to me.
  • #21,904
  • Sep 15, 2023 6:42pm Sep 15, 2023 6:42pm
Quoting pipmaster77
put money in, trade, take money out, pretty simple.
-It should be simple. It is sad that these props have to disguise and pretend. Even traders that know what this is all about are still willing to play the game because it is all a calculated risk and the odds are more in your favor than what you can get at a casino, assuming that you can trade.
  • #21,905
  • Sep 15, 2023 6:50pm Sep 15, 2023 6:50pm
Quoting Nsak3y
{quote}-It should be simple. It is sad that these props have to disguise and pretend. Even traders that know what this is all about are still willing to play the game because it is all a calculated risk and the odds are more in your favor than what you can get at a casino, assuming that you can trade.
Yes, make 15-20x the profit you can trading a personal account (pay $500 get 10-12K MAX LOSS) with ZERO of your money at risk (once passed). Yet, some people come in here hating on it.....why not trade your own account?, too many rules, etc, etc.., , I'll repeat.....
15 x the profit you would make on your own.
None of YOUR OWN MONEY at risk
It is a no brainer for anyone who can trade.
  • #21,906
  • Sep 15, 2023 8:44pm Sep 15, 2023 8:44pm
Thanks Nsak3y (cool nick) and Pip for your feedback to my hypothetical question :-)

Yes. I just wondered because based on my own research there aren’t any explicit rules against it provided the drawdown rules weren’t violated.

There might be some tricky parts in the small print like their terms of services or the contract you sign that I missed.

Otherwise risking my challenge fee, going on tilt, and get lucky on one trade should be legitimate (even if stupid).

If they honor such payouts to me it would mean a company I would like to do business with. Not preaching all the benefits but then kick you out on a payout request.

I mean if they would actually copy these funded traders trades (all of them) to the real market they wouldn’t risk much and still make enough bank on the 98 of 100 traders who lost challenges over and over again.

Maybe some people here ever got this lucky and requested even more than 5 figures lucky trade after they made it to the „funded“ status.

Anyhow, regards. Will be interesting to see what will happen to MFF. Seems like there is a lot of change coming.

kind regards
  • #21,907
  • Sep 15, 2023 9:37pm Sep 15, 2023 9:37pm
Quoting Capablanca
{quote} Receiving crypto in Binance doesn't have any costs, unless FXIFY deduct anything for gas cost (to me FXIFY deposited the entire amount, not deducting any fee - it was the first prop that did that because some others like TFF and TFT charge quite a lot of gas fees, sometimes even 25 USD, which is a rip off because they never paid that much in gas fees). You then pay the conversion fee if you convert USDT to fiat (USD, EUR, etc.). And then a withdraw fee of EUR, USD, etc, to your bank account. I haven't used Binance in the last 3 or 4 months...
Thank you. When I I process my withdrawal today I just regularly click the withdraw button however, it doesnt show me any option to choose bitcoin. Then I received email that I will received payout via deel. How did you process your withdrawals through FXIFY?
  • #21,908
  • Sep 15, 2023 10:11pm Sep 15, 2023 10:11pm
Maven Prop Firm reliable?
  • #21,909
  • Sep 15, 2023 11:02pm Sep 15, 2023 11:02pm
A platform question to you guys.

FXPIG, or 8 cap or any other mt4 providers.

If I want to install two FXPIG mt4 in the same computer, ( laptop ) how do i do ?

I should be able to open mt4 platform of FXPIG at the same time and running.

Pl. write the procedures pls.

I intend doing this i can do copy trading.
Intraday only.
  • #21,910
  • Sep 15, 2023 11:50pm Sep 15, 2023 11:50pm
Quoting navk
A platform question to you guys. FXPIG, or 8 cap or any other mt4 providers. If I want to install two FXPIG mt4 in the same computer, ( laptop ) how do i do ? I should be able to open mt4 platform of FXPIG at the same time and running. Pl. write the procedures pls. I intend doing this i can do copy trading.
This worked on my desktop I'm assuming it would be the same on your laptop. Short and easy.
Inserted Video
Pride always comes before destruction.... -Proverbs 16:18
  • #21,911
  • Sep 16, 2023 12:09am Sep 16, 2023 12:09am
Quoting Expo33
{quote} This worked on my desktop I'm assuming it would be the same on your laptop. Short and easy. https://www.youtube.com/watch?v=fO2652kfGCE
yes, I did this. working .

Great.

Thanks.
Intraday only.
  • #21,912
  • Sep 16, 2023 12:17am Sep 16, 2023 12:17am
Quoting navk
{quote} yes, I did this. working . Great. Thanks.
You're welcome glad it worked!
Pride always comes before destruction.... -Proverbs 16:18
  • #21,913
  • Sep 16, 2023 2:15am Sep 16, 2023 2:15am
If you do not download each desktop application of each broker your platform will but regularly. You will blame the prop firm or broker and you will attack their support and trust pilot. Always use individual terminals for each company.
  • #21,914
  • Sep 16, 2023 3:28am Sep 16, 2023 3:28am
Quoting lddd
Just out of curiosity. These prop trading companies like FTMO will pay you out even if you're just looking to risk a massive gamble trade after getting, say, a 100k "funded" account? Let's say I then place a single trade, risk the allowed -5% per day (-1R) and time the start of a massive trending day correctly and i am at +50% (+10R) 8 hours later. I stop and request a withdrawal of this winnings. At 100k that would mean 40k (minus the 20%) that stays with FTMO. What is the catch?
That example is too extreme but if you can have a nice profit once, twice, three time, I don't think it's a problem for FTMO to pay. But if you keep risking the daily DD to the maximum, day after day, you certainly are going to have your payout reduced or your leverage reduced to something like 1:5 or even banned from their services for gambling. Already happened.
  • #21,915
  • Sep 16, 2023 3:37am Sep 16, 2023 3:37am
Quoting pipmaster77
{quote} Tradersway, by far, is the best option. I have used them for 9 years without issue. They do not onboard NEW customers from the US though. Since last couple of years I believe. I have used LQDFX, Coinexx, FXChoice, EagleFX as well.
which one the best and most reliable?
  • #21,916
  • Sep 16, 2023 3:38am Sep 16, 2023 3:38am
Quoting KoyaAndy18
{quote} Thank you. When I I process my withdrawal today I just regularly click the withdraw button however, it doesnt show me any option to choose bitcoin. Then I received email that I will received payout via deel. How did you process your withdrawals through FXIFY?
Hummmm..... That happened to me as well but it was before they made the announcement of Deel. I thought that, by now, all was already sorted out.

OK, so this is what I did. After I saw the announcement that they were not working with Deel and as I had already requested the payout, I contacted the live support in the site. They then sent me an email saying "Congratulations on your payout with us! Let us know how we can pay you" and then there was a bottom to "provide your payout methoid". I clicked there and I was directed to some google form where I filled in some information (account number, crypto address, etc.). Just this.
  • #21,917
  • Sep 16, 2023 5:12am Sep 16, 2023 5:12am
Quoting navk
A platform question to you guys. FXPIG, or 8 cap or any other mt4 providers. If I want to install two FXPIG mt4 in the same computer, ( laptop ) how do i do ? I should be able to open mt4 platform of FXPIG at the same time and running. Pl. write the procedures pls. I intend doing this i can do copy trading.
You must install FXPIG 2 times in to different folder. One in C one in D
  • #21,918
  • Sep 16, 2023 5:21am Sep 16, 2023 5:21am
Quoting Takisd
If you do not download each desktop application of each broker your platform will but regularly. You will blame the prop firm or broker and you will attack their support and trust pilot. Always use individual terminals for each company.
Ok, ok. I will buy 27 laptops.
  • #21,919
  • Sep 16, 2023 5:31am Sep 16, 2023 5:31am
Quoting navk
A platform question to you guys. FXPIG, or 8 cap or any other mt4 providers. If I want to install two FXPIG mt4 in the same computer, ( laptop ) how do i do ? I should be able to open mt4 platform of FXPIG at the same time and running. Pl. write the procedures pls. I intend doing this i can do copy trading.
Navk, I'm also thinking of doing this. I have a 10K account but now want to buy a 100K but with same provider and trade them separately but with same strategy. However, I'm a little concerned that if we duplicate the platform will they not say we cheating although we will not be. This part got me confused, maybe one of the more experienced traders here can give some adv to us...
  • #21,920
  • Sep 16, 2023 5:38am Sep 16, 2023 5:38am
Quoting Dmh
{quote} Maybe this has something to do with your problem. https://www.mql5.com/en/forum/453683 {image}
You are correct...32bit V 64bit, so now I have to upgrade my windows to maybe 10 to get the 64 bit driver...cant afford to do that immediately.
Will have to be extra careful now when purchasing new accounts...thank you
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