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  • #26,221
  • Nov 14, 2023 10:15pm Nov 14, 2023 10:15pm
Quoting Stoneyrocks
{quote} CTI is CitytradersImperium ,no ?
I thought you were asking which one had the bad support which for me was Topstep.
Pride always comes before destruction.... -Proverbs 16:18
  • #26,222
  • Edited 12:37am Nov 15, 2023 12:06am | Edited 12:37am
Quoting pipmaster77
{quote} Yes, the good news is you can do that 150 more times and get just 1 $2K payout and you are positive on the venture.
Well, not quite 150 times as the reset costs $49 and I don't see any new promos but I get your drift. I imagine Black Friday will be an orgy of offers from every prop

Just bought a 100K at APEX. That will keep me entertained for a few days
Pride always comes before destruction.... -Proverbs 16:18
  • #26,223
  • Nov 15, 2023 12:54am Nov 15, 2023 12:54am
It seems some are trading FX with offshore brokers & I would like some suggestions as to the best one. Currently trading futures but would certainly like to add FX as that is the second online trading I did after a year trading Nasdaq on the SOES platform. Gave up FX after the demise of FXCM in the US. For some reason it's hard for me to give up FX totally. Contemplating giving a FTMO challenge try, but just not sure as of yet. Completed their 14-day trial in 7 days. Any suggestions would be most appreciated. Totally understand if no one is willing to make some suggestions.
  • #26,224
  • Edited 2:01am Nov 15, 2023 1:21am | Edited 2:01am
I mentioned a few pages back that there would be no new challenges on the FX prop side for me until MFF's case is decided, however it looks like I'm eligible for the new FTMO prime status.... so a free 200K challenge should be coming my way.

Their new program seems like the FTMO version of MFF's VIP 1% A-Book/STP group.
  • #26,225
  • Nov 15, 2023 2:41am Nov 15, 2023 2:41am
expect a flurry of cftc cases now against FX props. That could include FTMO.

If I was a US trader, I would be avoiding any new accounts.
  • #26,226
  • Nov 15, 2023 2:50am Nov 15, 2023 2:50am
Wild guess. MFF will be forced to become like other futures prop firms in US if they want to continue. Brand name is a brand name even if maybe the CEO whatever kid will get kicked out from the company. They will probably continue with its name tho. I cant see how they will allow MFF to operate as before with forex. Since there seems to be alot about prestige going on there in verdicts and those involved. So all will be made to not make look the accusers look silly. While still maybe giving MFF brand a chance. Anyhow how I noticed in past how it works with bigger companies at least.
  • #26,227
  • Nov 15, 2023 2:57am Nov 15, 2023 2:57am
Dude is gonna take his now clean 100 million and sail into the sunset knowing that what he did can never be duplicated again and how sweet it was that he managed to make 20 mil/yr with a couple of staff/ a website and a rented platform while knowing diksht about trading.
  • #26,228
  • Nov 15, 2023 2:58am Nov 15, 2023 2:58am
Quoting labu
Wild guess. MFF will be forced to become like other futures prop firms in US if they want to continue. Brand name is a brand name even if maybe the CEO whatever kid will get kicked out from the company. They will probably continue with its name tho. I cant see how they will allow MFF to operate as before with forex. Since there seems to be alot about prestige going on there in verdicts and those involved. So all will be made to not make look the accusers look silly. While still maybe giving MFF brand a chance. Anyhow how I noticed in past how it...
CFTC doesnt look to be in the strongest position here. There will be motions and other arguments in the coming days where the special master will rule. The special master is no joke.

Most likely MFF will become the Oanda/Forex.com/FXCM of the US market. I do not think any other prop has the capital to do it. But US market will be restricted to 1-5 participants. Maybe the CFD's thing will come into play and the indicies are futures, which doesnt matter anyway MFF can hedge on CFD's if they want so long as its made clear that the trader is not trading on exchange but the price/level2 is from exchange. FX is not illegal in the US so I don't see why it would be pushed to futures.
  • #26,229
  • Nov 15, 2023 3:13am Nov 15, 2023 3:13am
Quoting Takisd
{quote} CFTC doesnt look to be in the strongest position here. There will be motions and other arguments in the coming days where the special master will rule. The special master is no joke. Most likely MFF will become the Oanda/Forex.com/FXCM of the US market. I do not think any other prop has the capital to do it. But US market will be restricted to 1-5 participants. Maybe the CFD's thing will come into play and the indicies are futures, which doesnt matter anyway MFF can hedge on CFD's if they want so long as its made clear that the trader is...
Yes, was thinking about writing Oanda and Forex.com actually. But then I realized why saturate the market. So I doubt that will happen. But then again Im sure they want to keep the brand and popularity direct it somewhere. Im not enough knowledgeable how US works.

I asked GPT4 about legality of forex in US.
"Additionally, brokers that offer forex trading to retail clients in the U.S. must maintain at least $20 million in regulatory capital as a Retail Forex Exchange Dealer (RFED) with the CFTC and as a member of the NFA 1. These stringent regulatory requirements have made the U.S. one of the most trusted regulatory hubs for forex traders"

So yea, that seems to be the outcome as MFF are the only ones with capital for this. Might even be some new forex prop firm hybrid in US with similar rules as futures prop firms have there just for forex market alone somehow. Trailing DD etc. .
  • #26,230
  • Nov 15, 2023 3:16am Nov 15, 2023 3:16am
Quoting labu
{quote} Yes, was thinking about writing Oanda and Forex.com actually. But then I realized why saturate the market. So I doubt that will happen. But then again Im sure they want to keep the brand and popularity direct it somewhere. Im not enough knowledgeable how US works. I asked GPT4 about legality of forex in US. "Additionally, brokers that offer forex trading to retail clients in the U.S. must maintain at least $20 million in regulatory capital as a Retail Forex Exchange Dealer (RFED) with the CFTC and as a member of the NFA 1. These stringent...
I think they could do what they are doing with higher prices. The market squeeze is coming, europe will follow US now for registration.
  • #26,231
  • Nov 15, 2023 3:19am Nov 15, 2023 3:19am
So regardless of any demo/live/simulated/stp/A book B book terminology, cftc has jurisdiction over all evaluation props in US.
This is how many suspected it should be all along, however much we didn't want it to be the case. So US props are done for.

The question is how soon will the warning letters to other US firms go out? When will we get that email from Ceo saying cftc have told us to stop offering our services so I will be shutting up shop and disappearing onto the sunset with your funding and challenge fees.
And what lag can we expect before UK/EU bodies follows suit.

I wonder if FN will have some good black Friday offerings
  • #26,232
  • Nov 15, 2023 4:32am Nov 15, 2023 4:32am
Quoting rizla101
So regardless of any demo/live/simulated/stp/A book B book terminology, cftc has jurisdiction over all evaluation props in US. This is how many suspected it should be all along, however much we didn't want it to be the case. So US props are done for. The question is how soon will the warning letters to other US firms go out? When will we get that email from Ceo saying cftc have told us to stop offering our services so I will be shutting up shop and disappearing onto the sunset with your funding and challenge fees. And what lag can we expect before...
It's funny to remember that Matt and Angelo said they are 100% compliance with US regulators
  • #26,233
  • Nov 15, 2023 4:33am Nov 15, 2023 4:33am
Quoting Takisd
{quote} I think they could do what they are doing with higher prices. The market squeeze is coming, europe will follow US now for registration.
If given a choice do you think FTMO would....

1. Ban US citizens (1/3 of market)
2. Register with CFTC (millions in capital requirements + ongoing reporting)
3. Give the CFTC the middle finger like offshore brokers (risks pissing off CFTC & EU regulators, CFTC will then put the squeeze on their vendors & payment processors)
  • #26,234
  • Nov 15, 2023 4:53am Nov 15, 2023 4:53am
Court papers...
https://www.courtlistener.com/docket...bal-group-inc/
Attached File(s)
File Type: pdf gov.uscourts.njd.523880.134.0.pdf   309 KB | 264 downloads
  • #26,235
  • Nov 15, 2023 4:56am Nov 15, 2023 4:56am
Any brokers offering no expiration MT4 demo accounts with exact/almost same data feed as FTMO?
  • #26,236
  • Nov 15, 2023 5:07am Nov 15, 2023 5:07am
Quoting pipmaster77
this space has become the absolute pond scum of the financial industry now, with Angelo as the King. Matt, the clown from Bespoke, Maven, Lark .....I can't even keep up with all of them.
-We can thank the white label prop services for that. Pretty much any kid with a little bit of money could inflate his own ego by calling himself a CEO and pretending to be smarter than he actually is.
  • #26,237
  • Nov 15, 2023 5:07am Nov 15, 2023 5:07am
Quoting labu
MFF will be forced ... Brand name is a brand name ... They will probably continue with its name tho.
-Maybe Kazmi can relocate offshore and rebrand with MFF-FTCTFC.
  • #26,238
  • Nov 15, 2023 6:00am Nov 15, 2023 6:00am
Quoting Boulder
{quote} Used hft, passed two firms in one day, Nova and infinite, Nova live account after KYC 3 days, only issue is they pay crypto only, which I have never done before, I may need someone helps here one day; and infinity still has to fulfill those 10 days min trading days.. not sure both firms will pay, I just took a chance on them,,, {image}
Have you tried using it for a more reliable prop firm like FTMO?

Edit: Regarding crypto payments, I can help with that.
  • #26,239
  • Nov 15, 2023 6:06am Nov 15, 2023 6:06am
Quoting lddd
Any brokers offering no expiration MT4 demo accounts with exact/almost same data feed as FTMO?
Probably IC Markets I would say.
  • #26,240
  • Nov 15, 2023 6:16am Nov 15, 2023 6:16am
Quoting TrAndy1
{quote} Probably IC Markets I would say.
Thanks. Will have a look.
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