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  • #23,381
  • Oct 1, 2023 2:03pm Oct 1, 2023 2:03pm
In the olden days...yes 1900 something, in the brokerage firms I worked, we used to cut cheques for the clients that wanted to withdraw their funds. They would come to the office if local or we used to mail/courier them. Why can't that be done now. They have same or at the most next morning courier services that deliver quite reliably. Why can't these props cut cheques instead of using fancy payment systems?
  • #23,382
  • Oct 1, 2023 2:20pm Oct 1, 2023 2:20pm
Quoting labu
{quote} MFF was always high risk on my radar after ranking the prop firms by their marketing methods. Even 6 months ago as longterm investment extreme risk. Short term MFF was ok. But not something I personally would invest in anything shortterm. Meaning the signs were there in the marketing alone they were on deep water and not a serious prop firm which should be included in the ROI evaluation. FTMO wasnt even on that list I did 6 months ago due to its non thug marketing methods. So even if it seemed MFF was cheaper more value it wasnt better than...
What marketing mehtods do you speak of? They were pretty low key.
  • #23,383
  • Oct 1, 2023 2:22pm Oct 1, 2023 2:22pm
Quoting rizla101
{quote} Yes high stakes. I don't like the other programs. The 0.5% x 3 days definitely not good from trader point of view. We need to make $1500 minimum to get refund, with other programs I can make $4 wait 14 days then get fees refunded. Also if you look at high stakes T&C, the video interview stipulation is there if they request it. The SL and risk % is a bit open to interpretation. They have 'ideal risk management requirements' with the suggestion that a SL is used that represents a max of 1% risk. " its suggested though not required for every...

>>Hi, I asked them about the profitable days requirement in the high stakes program, and the 5ers mod on discord (as well as their chat support) says that it is not a requirement for payout. But it is a requirement to get scaled up. I also got confused at first bec it is under the funded column in their website.
  • #23,384
  • Oct 1, 2023 2:25pm Oct 1, 2023 2:25pm
Quoting Takisd
{quote} If you take the traffic, then fractionalized it to match MFF's. You can calculate approximately 10-20% the revenue. In TFF's case, the revenue and payouts are pretty much the same, if you add operating expenses its probably break even at best. December is always a dead revenue month and pay outs are lagging by 14-30 days so if this low market stays for props, december we will see deaths.
I am afraid that since MFF crashed, traffic has significantly dropped for prop frims and they didn't expect that.
It's kind like Ponzi investments when people begin to suspect something and start to bail out. Hope I am wrong but even in this thread, some people expressed their concerns and that they prefer stay on the side for a while.
Don't give up on your dreams. Keep sleeping.
  • #23,385
  • Oct 1, 2023 2:25pm Oct 1, 2023 2:25pm
Quoting Capablanca
{quote} TFF has one of the worse payment process of the industry. Almost 2 business days without being able to trade for each 14 days cycle. So 2 business days not trading in each 10 business days cycle. A piece of garbage if you look just for the payment process.
The MFF haters truly have no clue. Best value, best conditions and if you want to bring up the slip to hell of0.5-1 pip....well, like I said not a clue.
  • #23,386
  • Oct 1, 2023 2:27pm Oct 1, 2023 2:27pm
Quoting Takisd
{quote} If you take the traffic, then fractionalized it to match MFF's. You can calculate approximately 10-20% the revenue. In TFF's case, the revenue and payouts are pretty much the same, if you add operating expenses its probably break even at best. December is always a dead revenue month and pay outs are lagging by 14-30 days so if this low market stays for props, december we will see deaths.
Hopefully there will be some element of positive news from the mff hearing on the 11th, maybe bring a little bit of confidence back to those holding off from purchasing challenges at the moment. Otherwise if you are correct in your guesstimate perhaps its time to swing for the fences on some account's while I can.
  • #23,387
  • Oct 1, 2023 2:29pm Oct 1, 2023 2:29pm
I just came across this article:
https://dnyuz.com/2023/10/01/some-30...rted-injuries/

I am sure that some of those riders are pissed at The US Consumer and Product Safety Commission for stepping in and do the recall because these riders think they are so good and adapt at using these wheels that they should be left alone. It must feel like such a nuisance that some outside agency has come in and disturbed their fun times. They stepped in only after 4 deaths and dozens of reported injuries? Only that much would prompt a gov agency in charge to act?
Really CFTC seems totally complacent to have done nothing for all these years compared to USCPSC. CFTC probably did it to save themselves from being criticized for standing by and watching passively all these years.
  • #23,388
  • Oct 1, 2023 2:29pm Oct 1, 2023 2:29pm
Quoting Contessa22
{quote} >>Hi, I asked them about the profitable days requirement in the high stakes program, and the 5ers mod on discord (as well as their chat support) says that it is not a requirement for payout. But it is a requirement to get scaled up. I also got confused at first bec it is under the funded column in their website.
Okay thats great thanks for the info. So just need the minimum $150 withdrawal amount then, thats much better.
  • #23,389
  • Oct 1, 2023 3:06pm Oct 1, 2023 3:06pm
Quoting Artcool
some people expressed their concerns and that they prefer stay on the side for a while.
-Yes. The concerns are certainly warranted and reasonable, but such a position could also lead to the inevitable shuttering of most remaining firms as insolvency begins to hit.

Then again, I could be wrong. We see some firms getting away with scam behavior and yet people seem to continue purchasing accounts with them. Even still, people are coming here, asking which firms are okay to go with. It seems that the demand is not going anywhere, anytime soon. Whether or not the existing firms can weather the storm remains to be seen.
  • #23,390
  • Oct 1, 2023 3:06pm Oct 1, 2023 3:06pm
Quoting rizla101
{quote} TFF have been good from my point of view no issues with payments. Trade execution has gone down hill recently though, like a delay switch has been flipped.
correction... no issues with payments <5 figures
  • #23,391
  • Oct 1, 2023 3:12pm Oct 1, 2023 3:12pm
Quoting Artcool
{quote} I am afraid that since MFF crashed, traffic has significantly dropped for prop frims and they didn't expect that. It's kind like Ponzi investments when people begin to suspect something and start to bail out. Hope I am wrong but even in this thread, some people expressed their concerns and that they prefer stay on the side for a while.
This reminded me of those pyramid schemes scams, if the top of the pyramid goes so does the rest. As if MFF was founders or and kept the hit and run forex prop firms alive. With FTMO it appears being in a different pyramid.
  • #23,392
  • Oct 1, 2023 3:15pm Oct 1, 2023 3:15pm
Quoting Contessa22
{quote} >>Hi, I asked them about the profitable days requirement in the high stakes program, and the 5ers mod on discord (as well as their chat support) says that it is not a requirement for payout. But it is a requirement to get scaled up. I also got confused at first bec it is under the funded column in their website.
How are people trading that 3 days of at least .5% to get a payout is a problem? are these all in yolo traders?
  • #23,393
  • Oct 1, 2023 3:18pm Oct 1, 2023 3:18pm
Quoting CableJ
correction... no issues with payments <5 figures
-Certainly, none of these remote prop firms can be trusted, in any traditional sense of the word. Perhaps any meaningful measure of trust can be weighed using a probability score. Such as, how probable is it that firm ABC will be able to pay out amount XYZ, and so forth.

The same view should apply to brokers or any other investment. How likely am I to see a return on my investment and not get screwed over... What is my risk exposure; can it be calculated and mitigated etc.? If you know, once you know, you can work within that particular system... hopefully for your benefit.
  • #23,394
  • Oct 1, 2023 3:20pm Oct 1, 2023 3:20pm
Quoting bukkake
People denying that these firms aren't ponzi-like: why should you be worried about drops in website traffic and new fees incoming? As long as you get your payout, nothing else matters right?
I think most are aware that props are ponzi like, but they are not ponzi. Most were aware that challenge fees are paying for the much smaller number of those who reached pay out stage. Whats the problem with that issue specifically?
  • #23,395
  • Edited 3:50pm Oct 1, 2023 3:32pm | Edited 3:50pm
Quoting labu
{quote} This reminded me of those pyramid schemes scams, if the top of the pyramid goes so does the rest. As if MFF was founders or and kept the hit and run forex prop firms alive. With FTMO it appears being in a different pyramid.
When funding talent crashed..... MFF & FTMO had the biggest spikes in signups, I would think FTMO had a big spike after the MFF shutdown.

The US is 1/3 the market, if US traders fear the CFTC's next action & dramatically pull back, it basically kills all the other North American props. Plus, anyone that was dependent on heavy discounts + affiliate marketing lowering margins to gain share is dead (TFT).
  • #23,396
  • Oct 1, 2023 3:34pm Oct 1, 2023 3:34pm
Quoting CableJ
{quote} How are people trading that 3 days of at least .5% to get a payout is a problem? are these all in yolo traders?
Its not a problem. This requirement had to be met to pass both stages of the challenge, so not a problem.

But its more favourable to only have to achieve $150 to recieve your fee refund. Then $500 on 3 seperate days.
  • #23,397
  • Oct 1, 2023 3:45pm Oct 1, 2023 3:45pm
Quoting Capablanca
TFT keep promising to clear payouts and keep delaying. This seems the last hope: launching something new, promote it and try to get fees to pay a couple of people. {image}
So, they are updating their times to get credentials, payout, etc like it's a great thing. Yet, still behind most others even AFTER the changes.
  • #23,398
  • Oct 1, 2023 4:12pm Oct 1, 2023 4:12pm
Quoting pipmaster77
So, they are updating their times to get credentials, payout, etc like it's a great thing. Yet, still behind most others even AFTER the changes.
-Indeed. This is TFT's modus operandi.

It reminds me of storage space and other technology merchandise. Most companies drip-feed the lower capacities even though they can already produce much better. This maximizes their profit-potential. In TFT's case, this has them constantly looking good and improving PR/morale. It's a good, but lame strategy.

From a consumer perspective, this shows to me that they do not give priority to their customers. Go figure.
  • #23,399
  • Oct 1, 2023 5:05pm Oct 1, 2023 5:05pm
Quoting Artcool
Can someone please sum up for me how do crypto withdrawals work concretely and what's the benefit of it?
I think most people here have switched to crypto withdrawals because the prop firms literally didn't give them other options. Deel has stopped working with most firms. TFT said they have problems with Wise. So if you go for crypto withdrawals, there are less excuses for them to delay your payment (tho they can still say blah blah blah happened...) I used the old sch bank wire with FTMO and so far have no problem with it. But in a world even when the giant (MFF) can fall, everything can happen.
memento mori
  • #23,400
  • Edited 7:55pm Oct 1, 2023 7:41pm | Edited 7:55pm
Quoting rizla101
{quote} I think most are aware that props are ponzi like, but they are not ponzi. Most were aware that challenge fees are paying for the much smaller number of those who reached pay out stage. Whats the problem with that issue specifically?


you just defined a ponzi scheme

What is a Ponzi Oxford dictionary?
noun. /ˈpɑnzi ˌskim/ a plan for making money that involves encouraging people to invest by offering them a high rate of interest and using their money to pay earlier investors.

hope you wont argue overa dictionary definition which is pretty much just like yours LOL

this thread is more entertaining than watching midget wrestling on tv
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