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  • #24,181
  • Oct 14, 2023 12:13pm Oct 14, 2023 12:13pm
Quoting TraderTero
{quote} Like I said before you don't need any of those prop firm white labels in order to run a prop. Never understood why someone would give away 30-40% share for the services they provide.
Time mostly. The dashboards take 6months-1yr to build depending on the size of the database required and all the features. It will be buggy as shit when you release it to. Why not go with something that is portrayed as not buggy despite it being buggy? All for the low price of 30% of your revenue.
  • #24,182
  • Oct 14, 2023 12:41pm Oct 14, 2023 12:41pm
Quoting Takisd
{quote} Time mostly. The dashboards take 6months-1yr to build depending on the size of the database required and all the features. It will be buggy as shit when you release it to. Why not go with something that is portrayed as not buggy despite it being buggy? All for the low price of 30% of your revenue.
You can get one for a fixed monthly fee without having to pay any revshare and have your own developed in less than six months. There are plenty of skilled system developers around for MQ api.
  • #24,183
  • Oct 14, 2023 1:14pm Oct 14, 2023 1:14pm
Quoting Takisd
There was a massive complaint filed against one dashboard provider (I dont think I should name), in this moment safety is found in people who made their own tech. Btw MADE their own tech, not host it.
-This involves some intentional or unintentional data breach, presumably?
  • #24,184
  • Oct 14, 2023 1:15pm Oct 14, 2023 1:15pm
Quoting TraderTero
You can get one for a fixed monthly fee without having to pay any revshare and have your own developed in less than six months. There are plenty of skilled system developers around for MQ api.
-Wouldn't the dashboard only be part of the equation, though? I suspect that turnkey solutions are ideal for many, considering most remote firms are being formed by people that seemingly have little-to-no idea about these things.

It seems that there may be a wide range of skills involved, of which most people do not possess them all. Startup capital can be an issue, which is probably why we see firms migrating over to different systems once they have been up and running for a while and can afford to do things 'better'.

I can only speculate, really.
  • #24,185
  • Oct 14, 2023 1:58pm Oct 14, 2023 1:58pm
I would also assume that any firm in existence prior to the un-named tech provider being in existence would have already had their own system in place? That leaves what.....FTMO, 5%ers and maybe CTI?
  • #24,186
  • Oct 14, 2023 2:22pm Oct 14, 2023 2:22pm
There are few prop firms who allows trading with other platforms than Metatrader. This is FTMO with cTrader and then there are few props with Tradelocker as trading platform: FunderPro, OspreyFX and TopTierTrader.
  • #24,188
  • Oct 14, 2023 2:56pm Oct 14, 2023 2:56pm
Some protections as the MFF case will settle down soon (hopefully). There could be some surprises. So here are some prop firms where you are able to pay the challenge fee via Paypal. That could offer some protection as it is much easier to get a refund in case the prop firm shows fishy practices and you want your money back.

These are:
Audacity
CTI
FTUK
Goat Funded Trader
Trading Funds
  • #24,189
  • Oct 14, 2023 3:36pm Oct 14, 2023 3:36pm
Quoting Takisd
{quote} There was a massive complaint filed against one dashboard provider (I dont think I should name), in this moment safety is found in people who made their own tech. Btw MADE their own tech, not host it.
What agency has the complaint been filed with?
  • #24,190
  • Oct 14, 2023 6:40pm Oct 14, 2023 6:40pm
Quoting TrAndy1
Hidden
You've been lied to multiple times in this list, but I dont have patience to go through why on each one. But basically if it says "Tier 1 liquidity" you can assume you are lied too. For example, 5ers have said they use saxo, isprime and some other prime of prime. Prime of prime is not tier 1.
  • #24,191
  • Oct 14, 2023 8:13pm Oct 14, 2023 8:13pm
Quoting TrAndy1
Hidden
I think you should stay away for toptier and ospreyfx has they are owned by cuebanks
  • #24,192
  • Oct 15, 2023 12:22am Oct 15, 2023 12:22am
I avoid social media but couldnt help but to use the search term propfirm and on twitter to see what truly goes on. Noticed that apparently theres a new subculture. The ghetto traders. I do notice its mostly referenced to the forex prop firms for some reason. Any serious trader should avoid forex prop firms from what I see. Then as usual maybe FTMO is ok. But once a finance area hits absolute ghetto level it tends to not last long I noticed, regulation wise. Penny stocks trading etc.

Risk management: Do your research about the general overview. Not just the charts... just my two penny cents which got regulated.
  • #24,193
  • Oct 15, 2023 7:16am Oct 15, 2023 7:16am
Anyone knows does this works ? https://www.propselect.com/ Or is it just a scam ? It looks like it does not work but I am not 100% sure. A 50% discount looks good...
  • #24,194
  • Oct 15, 2023 7:25am Oct 15, 2023 7:25am
Quoting TrAndy1
Hidden
Tier 1 = UBS, Goldman, Deutsche bank, JP Morgan, Citbank, Barclays ect

I highly doubt anyone in the retail prop space has direct bilateral agreements with Tier 1 primes. 10-20M is required with a leverage max of 15-25:1 & that is if they don't outright deny props as risky business exactly like they deny Forex brokers.
  • #24,195
  • Oct 15, 2023 7:52am Oct 15, 2023 7:52am
Quoting CableJ
{quote} Tier 1 = UBS, Goldman, Deutsche bank, JP Morgan, Citbank, Barclays ect I highly doubt anyone in the retail prop space has direct bilateral agreements with Tier 1 primes. 10-20M is required with a leverage max of 15-25:1 & that is if they don't outright deny props as risky business exactly like they deny Forex brokers.
they dont have tier 1, not even a prime of prime , they just use this names as fake marketing for sounds better.
same like they did say they pay their winners from their money they invested by copy their strategy, of course they dont do this and just pay the winner from the money what people lost by kicked out because of rules (or some tricks to get outside the rules) inside this game. some people dont have understand this, thatswhy some still talk like this are real brokers behind. its just a simple demoaccount server with special designed behaviour (possible to compare with some only extrem b book brokers, who are same trading game like prop companies).

all what sounds good in prop is often simple marketing trash talk, because of demo accounts its not a lot of responsibility and zero connection to real markets, just a a simple copy of a price with markups and special delay rules and additional rules for reduced trading, so anything that brings yourself the mathematical edge like a casino. so you only need marketing to bring people believe its something different and let it run and win by this. very simple model, but when people get not educated in trading, people often dont see simple facts (but this are then gamblers, not traders).
  • #24,196
  • Edited 8:22am Oct 15, 2023 7:55am | Edited 8:22am
Quoting CableJ
{quote} Tier 1 = UBS, Goldman, Deutsche bank, JP Morgan, Citbank, Barclays ect I highly doubt anyone in the retail prop space has direct bilateral agreements with Tier 1 primes. 10-20M is required with a leverage max of 15-25:1 & that is if they don't outright deny props as risky business exactly like they deny Forex brokers.
I know it is not correct. It should be said kind of "Prime" brokers but not Tier1. I had this from website propfirmreviews copied. The only thing what matters is here that it is not the standard broker like 8cap, Purple or Thinkmarkets who are in investigation with Metatrader it actually seems. That is all. And of course there is a greater difference between FTMO and all the other props.

These are Tier 1 or REAL Prime brokers:

Top 10 overall market share: Global market share Overall volume (adjusted swaps*)
Geography Rank 2021 Rank 2020 Counterparty Market Share % 2021
Global 1 1 JPMorgan 11.41%
Global 2 2 UBS 10.02%
Global 3 4 Deutsche Bank 8.49%
Global 4 3 XTX Markets 6.69%
Global 5 5 Citi 6.18%
Global 6 7 Jump Trading 5.91%
Global 7 8 Goldman Sachs 5.20%
Global 8 10 Bank of America 4.69%
Global 9 9 State Street 4.54%
Global 10 6 HSBC 3.49%

https://assets.euromoneydigital.com/...s-released.pdf
https://www.fx-markets.com/awards/79...22-the-winners
  • #24,197
  • Edited 9:50am Oct 15, 2023 8:53am | Edited 9:50am
Prime of Prime list with some salt of course. Question: Which Prime of Prime is best on this list ?
Attached Image (click to enlarge)
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  • #24,198
  • Oct 15, 2023 1:03pm Oct 15, 2023 1:03pm
Quoting TrAndy1
Prime of Prime list with some salt of course. Question: Which Prime of Prime is best on this list ? {image}
depends how you trade and what is necessary for you:
- you use own fix api?
- what LP needs to be in?
- how big is your starting capital
- how big is your trading volume per month?
- how you like their own trading platforms?
- how much service you need/want?
- you want pooled trading and direct visible to LP?
- what markets you trade?
- what instrument you use in this markets?
-......
  • #24,199
  • Oct 15, 2023 6:41pm Oct 15, 2023 6:41pm
Quoting Capablanca
{quote} Update 2: - Just received the Alpha wire requested this morning. This confirms what I suspected when I had troubles with Wise: Alpha is indeed paying fast and was able to adapt quite fast to Deel kick out. So, right now I'm only waiting for E8/Plane, wherever the money is.
DO

You have account with goat funded trader ?

How are they ?
Intraday only.
  • #24,200
  • Oct 15, 2023 10:36pm Oct 15, 2023 10:36pm
I think CFDs are forbidden in the USA because any broker can easily b-book you and can take the other side of trade. Then there is conflict of interest where the broker wants to loose you. If anyone is doing like 99.9% b-booking like the most retail FX prop firms then these are considered like closed bucket shops. They stop you from winning consistently by kicking you out of the prop firm or they mutate to scam artists when it comes to payout. On a FX broker especially larger ones they have the knowledge to A-book profitable traders. But it seems on nearly all prop firms they cannot do A-booking because of missing knowledge to do this properly. So those prop firms can do more profits or survive by sorting out profitable traders especially the consistent winning traders. It is like a closed bucket shop behavior here. Too bad...
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