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  • #22,601
  • Sep 23, 2023 6:32am Sep 23, 2023 6:32am
Quoting TrAndy1
{quote} What is a glitch for you ? How do you define that ?
An instrument suddently gain or lose a lot of value in a very short time. I guess.
MetaTrader 4 - so many advantages.
  • #22,602
  • Sep 23, 2023 6:33am Sep 23, 2023 6:33am
Quoting TrAndy1
I just wonder how can MFF and the CFTC settle down things, if MFF is 100% opponent to all made accusations from CFTC. That will be interesting to see if that can be resolved soon. For me it looks like they cannot come together and it will go to court. But that can take a lot of more time. Until then the whole prop world is as it was.
after 11 Oct hearing it will settle. Trial 1 yr later receiver will eat all the funds.
  • #22,603
  • Sep 23, 2023 6:40am Sep 23, 2023 6:40am
Quoting RiskFighter
{quote} An instrument suddently gain or lose a lot of value in a very short time. I guess.
If you trade on red news you can also have a lot of slippage, I would exclude those trading times. There are good news filter for Metatrader on the market already.
  • #22,604
  • Sep 23, 2023 6:49am Sep 23, 2023 6:49am
Did MFF actually claim to be a forex broker. If so then that could make a difference compared to other props:

https://www.investmentexecutive.com/...ex-fraud-case/

According to regulatory filings, the OSC launched an investigation into Ontario-based TGG and Kazmi, in response to a request from the U.S. Commodities Futures Trading Commission (CFTC), which found that they operated a website, myforexfunds.com, claiming to be a retail foreign exchange and commodities trading firm.
“There is virtually no real trading taking place at TGG. For the vast majority of investors, trading is simulated by TGG with various rules in place designed to benefit TGG to the detriment of investors,” the OSC alleged in its application.

Once again they are taking about investors. Hard to see how paying a one time fee would make you an investor.
  • #22,605
  • Sep 23, 2023 6:55am Sep 23, 2023 6:55am
Quoting TrAndy1
{quote} If you trade on red news you can also have a lot of slippage, I would exclude those trading times. There are good news filter for Metatrader on the market already.
Slippage can be a problem, but mostly not. And I get lots of pips during news. And the winnings compared to slippage problems makes it worth it.

I use RENKO charts and I think that those are part of the explanation that I can trade the news. RENKO react on price - not time.

I know people say I'm crazy trading during News - that is OK. But those are the times where I get most profit.
MetaTrader 4 - so many advantages.
  • #22,606
  • Sep 23, 2023 7:08am Sep 23, 2023 7:08am
Quoting Takisd
{quote} after 11 Oct hearing it will settle. Trial 1 yr later receiver will eat all the funds.
receivers often do a lot of stupid shit

for example, an Income Store was a $100m web business Ponzi that eventually faltered while still having significant assets, receiver basically ran them into the ground
  • #22,607
  • Sep 23, 2023 8:01am Sep 23, 2023 8:01am
Quoting TraderTero
Did MFF actually claim to be a forex broker. If so then that could make a difference compared to other props: https://www.investmentexecutive.com/...ex-fraud-case/ According to regulatory filings, the OSC launched an investigation into Ontario-based TGG and Kazmi, in response to a request from the U.S. Commodities Futures Trading Commission (CFTC), which found that they operated a website, myforexfunds.com, claiming to be a retail foreign exchange and commodities trading firm. “There is...
They didn't. The case in canada is super easy but they will tow the CFTC line. In canada it comes down to securities law, whether or not OSC is the jurisdction in the first place. My guess is no.

For the CFTC its a bit more broad. The court order itself is an "Everything and anything" order with no official customer complaint attached. So it might come into the same argument of whether or not TGG/MFF acted as a custodian of investor funds. In my opinion, no prop firm is acting as a custodian. But its just my opinion and its up to legal experts to argue that.
The fraud elements are stupid and every day i read them, which is most days now as I am super interested in how this plays out, it looks more stupid from what we have seen so far.

Whats even more stupid, are the clowns thinking their entire trading career was ruined by MFF because of pipette slippage on volume tiers. Saw quite a lot of that crap on twitter today, as much as I applaud trader bach and tradernok going after TFT because angelo is a piece of ass, their views are really stupid sometimes. Clear biases.
  • #22,608
  • Sep 23, 2023 8:17am Sep 23, 2023 8:17am
Quoting TraderTero
Did MFF actually claim to be a forex broker. If so then that could make a difference compared to other props: https://www.investmentexecutive.com/...ex-fraud-case/ According to regulatory filings, the OSC launched an investigation into Ontario-based TGG and Kazmi, in response to a request from the U.S. Commodities Futures Trading Commission (CFTC), which found that they operated a website, myforexfunds.com, claiming to be a retail foreign exchange and commodities trading firm. “There is...
Just to reiterate to everyone and confirmed by the above statement....CFTC started it and Canada became involved in response to a request from the CFTC. Just in case anyone thought it was the opposite or a collaboration.....So yes, it was once again THE OVER REACHING SCUMBAGS OF THE US!!!!!!
  • #22,609
  • Sep 23, 2023 8:46am Sep 23, 2023 8:46am
Find this video interesting. They are talking also about MFF complaints. The interviewed guy has a lot of broker experience too as being his own broker too.
Inserted Video
  • #22,610
  • Sep 23, 2023 8:52am Sep 23, 2023 8:52am
Quoting Vitore
{quote} Same here. Most of them are actually on my personal blacklist (which doesn't mean they cannot be trusted per se but eg. employ some stupid rules etc.) Just a few examples: - Glow Node Limited prohibited grid/martingale without specification; cannot open two same trades on two different accounts... - Maven Trading US based; inconsistency is a "major red flag" without any specification what "inconsistency" means; martingale...
Maven is UK jurisdiction. NOT USA. Big difference. Also their consistency is meant like Bespoke. You need to trade with same strategy on challenge like on funded account. Second part of it, you cannot gamble to get a funded account. So if risk 5% per trade to get challenge passed in 1 or 2 trades they deny your funded account.
  • #22,611
  • Sep 23, 2023 9:01am Sep 23, 2023 9:01am
Quoting Takisd
{quote} after 11 Oct hearing it will settle. Trial 1 yr later receiver will eat all the funds.
Well then, guess going for a chargeback might make sense now if the CTFC might take all the funds (unless I didn't understand you correctly lol)
  • #22,612
  • Sep 23, 2023 9:03am Sep 23, 2023 9:03am
Quoting Tobiazzek
{quote} Well then, guess going for a chargeback might make sense now if the CTFC might take all the funds (unless I didn't understand you correctly lol)
Do not think so. They won't run out of funds. That thing will be solved anytime sooner. So I think MFF will come out with a blue eye. That's it. MFF will continue to payout and run their challenge business as usual. The only thing I am unsure, how or if they can still take US customers or not as their clients. Maybe that is the thing.
  • #22,613
  • Sep 23, 2023 9:09am Sep 23, 2023 9:09am
I say this, because there is too much money on the table for MFF. Also future profits in regions of hundred of millions the CEO do not want to miss. So they will find a solution they can still operate as normal as possible. So if they cannot agree at all with CFTC and no real solution in between can be found, the only solution I would see is, that USA is kept outside of MFF business (maybe also Canadians too). That would be the common part which both sides could agree AT LEAST I guess. Let's see.
  • #22,614
  • Sep 23, 2023 9:17am Sep 23, 2023 9:17am
Quoting Vitore
{quote} Same here. Most of them are actually on my personal blacklist (which doesn't mean they cannot be trusted per se but eg. employ some stupid rules etc.) Just a few examples: - Glow Node Limited prohibited grid/martingale without specification; cannot open two same trades on two different accounts... - Maven Trading US based; inconsistency is a "major red flag" without any specification what "inconsistency" means; martingale...
Thanks. Gold worth to some of us. As much of warning info one can get the better. I just had no idea until lately that so many prop firms got weird strange rules like not allowing martingale and grid, literally prolly the most used methods im guessing by experienced traders whos profitable from tests ive done at least. Even consistency rules never thought about that even with forex prop firms since that was their only advantage compared to futures prop firms to not have any crazy consistency rules.
  • #22,615
  • Sep 23, 2023 9:18am Sep 23, 2023 9:18am
Quoting pipmaster77
{quote} Just to reiterate to everyone and confirmed by the above statement....CFTC started it and Canada became involved in response to a request from the CFTC. Just in case anyone thought it was the opposite or a collaboration.....So yes, it was once again THE OVER REACHING SCUMBAGS OF THE US!!!!!!
Is Canada a U.S. colony?
  • #22,616
  • Sep 23, 2023 9:18am Sep 23, 2023 9:18am
Quoting TrAndy1
I say this, because there is too much money on the table for MFF. Also future profits in regions of hundred of millions the CEO do not want to miss. So they will find a solution they can still operate as normal as possible. So if they cannot agree at all with CFTC and no real solution in between can be found, the only solution I would see is, that USA is kept outside of MFF business (maybe also Canadians too). That would be the common part which both sides could agree AT LEAST I guess. Let's see.
It is an easy go solution, if USA and Canada is outside of MFF business. The CFTC can say this MFF thing does not matter anymore to us, as no US customers will be accepted anymore. That is the solution. For trading CFDs MFF needs to pay a smaller fine as this not allowed for US customers/traders and maybe also for some misleading marketing on their website (including that the traders are not seen as investors and so on, etc.). That should be (quite or nearly) all, I think.
  • #22,617
  • Sep 23, 2023 9:20am Sep 23, 2023 9:20am
Quoting TrAndy1
I say this, because there is too much money on the table for MFF. Also future profits in regions of hundred of millions the CEO do not want to miss. So they will find a solution they can still operate as normal as possible. So if they cannot agree at all with CFTC and no real solution in between can be found, the only solution I would see is, that USA is kept outside of MFF business (maybe also Canadians too). That would be the common part which both sides could agree AT LEAST I guess. Let's see.
I'm guessing they will become a futures prop firms at maximum cooperating with CME and regulators. All the advantages stripped down. They would prolly accept that offer quickly. Why wouldnt the futures industry want to use MFF since they are so big already. Of course the CEO will be MIA but it might live on to see another day.
  • #22,618
  • Sep 23, 2023 9:22am Sep 23, 2023 9:22am
Quoting labu
{quote} I'm guessing they will become a futures prop firms at maximum cooperating with CME and regulators. All the advantages stripped down. They would prolly accept that offer quickly. Why wouldnt the futures industry want to use MFF since they are so big already. Of course the CEO will be MIA but it might live on to see another day.
Never, I do not see that. They have a good running business they do not want to throw away. Why should the CEO of MFF risking to throw away hundred of millions ?
  • #22,619
  • Sep 23, 2023 9:27am Sep 23, 2023 9:27am
Quoting ladder
{quote} Is Canada a U.S. colony?
Yes and no. Follow the money trail in market if you want to find out who really rules which countries etc not shown in media. Like who even created US for example and the actors behind that are they still around today? I think such questions about history of economics is what any serious retail traders should look into to understand modern economics not stuff you are force feed from media or other clown sources. When you know who operates which countries which it all flows through and the systems they have. It all kinda makes sense how regulators work and why etc. But most prefer to just gamble and not care about such things. Even prop firms become affected by the history of how and which countries affect US and Canada etc. I guess off topic. tho.
  • #22,620
  • Sep 23, 2023 9:30am Sep 23, 2023 9:30am
guys is MFFX safe?
I am what Many Dream to be but only a few can achieve, im a part of the 1%
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