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  • #26,441
  • Nov 20, 2023 7:34am Nov 20, 2023 7:34am
Please guys keep this thread about its topic : Prop firms.
Don't give up on your dreams. Keep sleeping.
  • #26,442
  • Nov 20, 2023 7:34am Nov 20, 2023 7:34am
Funded Next with a very strong statement, knowing that they like to delay things for "investigation".

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  • #26,443
  • Nov 20, 2023 7:39am Nov 20, 2023 7:39am
Quoting Capablanca
knowing that they like to delay things for "investigation".
-Maybe the clock starts once you are 'approved' or stops if an 'investigation' is required. Anyone interested in this firm should seek clarification, for sure. Cannot trust these firms with much.
  • #26,444
  • Nov 20, 2023 7:58am Nov 20, 2023 7:58am
Quoting Ferna
{quote} The point is you most proably will have to work until you die too, once the state starts to take money from the huge pension funds to finance debt. So nobody is a winner in this, not even the old and rich. Basel 3 and other agreements makes any savers deposits property of the bank, and no Volcker rule means that banks can freely invest and speculate with your money. The difference from your generation is that you could actually afford having kids. The generation before that could support a housewife and 6 children on one salary. Now in Austin...
I thought stats showed that these authorities/regulations stopped a lot of people losing their benefit and employment cheques via gambling on the stock market. That's why, in many cases, Prop firms are so popular with those with little or no income because these people can gamble their state benefits on stocks/forex etc.
every Saint has a past. Every Sinner has a Future
  • #26,445
  • Nov 20, 2023 8:28am Nov 20, 2023 8:28am
Quoting Capablanca
Funded Next with a very strong statement, knowing that they like to delay things for "investigation". {image}
I checked their offer : 200% refund + 15% of profits from challenge phase + now $1000 if no payment after 24H...

Looks really too good to be true. They really don't pay ?
Don't give up on your dreams. Keep sleeping.
  • #26,446
  • Nov 20, 2023 9:02am Nov 20, 2023 9:02am
Quoting Artcool
{quote} I checked their offer : 200% refund + 15% of profits from challenge phase + now $1000 if no payment after 24H... Looks really too good to be true. They really don't pay ?
I wrote about them yesterday:
https://www.forexfactory.com/thread/...7#post14660217

They paid me when I worked with them but I don't trust them a little bit because of the reasons I stated.
(the bonus from challenge phase is pai only after you get some % of accumulated profits in funded, 5% if I remember well - it's not automatic in first payout)

If you only have small payouts like 1K, 2K, etc. maybe you will go under their radar. I had to do an interview (not social media) when I was to receive the bonus from challenges. Only company that did this to me.
  • #26,447
  • Nov 20, 2023 9:09am Nov 20, 2023 9:09am
Quoting Capablanca
I worked with them but I don't trust them a little bit because of the reasons I stated.
-Speaking about trust and integrity, some firms may also go back on their word and change their policies at the drop of a hat (oftentimes, without even updating their customer base). Traders With Edge did this.

Maybe some will honor the terms if you are already engaged, but maybe not. The risk is always there. Best you can do is have things in writing (email proof) so that you have a leg to stand on if they try to pull the rug out from under you.
  • #26,448
  • Nov 20, 2023 9:22am Nov 20, 2023 9:22am
Quoting Nsak3y
{quote} -Speaking about trust and integrity, some firms may also go back on their word and change their policies at the drop of a hat (oftentimes, without even updating their customer base). Traders With Edge did this. Maybe some will honor the terms if you are already engaged, but maybe not. The risk is always there. Best you can do is have things in writing (email proof) so that you have a leg to stand on if they try to pull the rug out from under you.
You're right. I always try to print a pdf of the T&C I sign off and also a print screen of the code used when purchasing with a promotion, just in case.
Probably is useless for a shady company but anyway I will know, without doubt, if I'm right in claiming or not.

I remember when FTUK changed unilaterally the 6% static stop to 6% trailing so some guy and this was not in the conditions.
  • #26,449
  • Nov 20, 2023 10:15am Nov 20, 2023 10:15am
Quoting Capablanca
Probably is useless for a shady company but anyway
-I like to think that by having some form of proof, you are afforded more leverage, even if you never have any real intentions on formally acting on that leverage in any legal capacity. And at the very least, you can blast them online and expose them to the masses.
  • #26,450
  • Nov 20, 2023 10:47am Nov 20, 2023 10:47am
I have one active 100K evaluation with Apex. What happens if I buy a couple more 100K evaluations? Do I just get separate login credentials for each new account?
Pride always comes before destruction.... -Proverbs 16:18
  • #26,451
  • Nov 20, 2023 11:00am Nov 20, 2023 11:00am
Quoting OutThere
Quoting Ferna
Young woman explains why we younger people proably should take a couple of years off the labour market, until regulators and big government get their shit together: https://www.youtube.com/watch?v=E7ndaj7__ts[/quote That lady and the guy need to travel bsck in time to the 90's and experience the low wages and the high prices of rent and food compared to the average income of those years. Been hearing rants like this since forever and blaming it on gov policies is nothing new either. These guys need to buckle up,
...
Poor girl got a degree in gender-queer basket weaving with a Ph.D. in Victimology.

Now all she can afford is an iPhone 15, designer clothes, expensive makeup, a nice car, Starbucks 8 days a week, and dinner out every other night. But hey why work if you can live with your parents for free?

Sorry cupcake. You're selfish and lazy just as advertised.
Pride always comes before destruction.... -Proverbs 16:18
  • #26,452
  • Nov 20, 2023 11:03am Nov 20, 2023 11:03am
Quoting Ferna
Gen Z girl miming linkin park, isn’t she lovely? https://www.youtube.com/shorts/11O1NNMRB9c
Nah, just another self-absorbed skank with zero dignity taking advantage of a free platform to make money.
Pride always comes before destruction.... -Proverbs 16:18
  • #26,453
  • Nov 20, 2023 11:36am Nov 20, 2023 11:36am
Quoting Expo33
I have one active 100K evaluation with Apex. What happens if I buy a couple more 100K evaluations? Do I just get separate login credentials for each new account?
Login is the same in Apex dashboard. you probably have an account 123456-1
Then they will issue
123456-2
123456-3
123456-4
123456-5
...

In Rythmic I see one line for each of these accounts. So login is the same for all accounts. I don't know in other platforms.
  • #26,454
  • Nov 20, 2023 11:44am Nov 20, 2023 11:44am
I bought a couple of 50K accounts in Apex and was able to blow them all testing the platform, the copier and couple of things more (some functionalities were not working like I thought, upss ).

But I think now I'm finally comfortable with Rithmic and ready to go for real stuff. I think I'll go and grab a dozen accounts using the 90% BF promo.

The only bad thing is to have to do a dozen purchases. Why the hell don't they allow to purchase more then one account in each purchase. Repeating the same a dozen times it's quite tiring.

Do I have to cancel the monthly subscription of these blown accounts or they just vanished when they terminate ?
  • #26,455
  • Nov 20, 2023 11:56am Nov 20, 2023 11:56am
Quoting Capablanca
I bought a couple of 50K accounts in Apex and was able to blow them all testing the platform, the copier and couple of things more (some functionalities were not working like I thought, upss ). But I think now I'm finally comfortable with Rithmic and ready to go for real stuff. I think I'll go and grab a dozen accounts using the 90% BF promo. The only bad thing is to have to do a dozen purchases. Why the hell don't they allow to purchase more then one account in each purchase. Repeating the same a dozen times it's quite tiring. Do I have to...
They will reset. You must cancel. Only benefit to reset, is if account is negative or blown, you start at initial balance and fee is 80% off. Only makes sense if the current offer is less than 80% off.
  • #26,456
  • Nov 20, 2023 12:11pm Nov 20, 2023 12:11pm
Quoting pipmaster77
{quote} They will reset. You must cancel. Only benefit to reset, is if account is negative or blown, you start at initial balance and fee is 80% off. Only makes sense if the current offer is less than 80% off.
One needs to make sure it is blown if it is not than you will pay monthly subscription without reset. Also one needs to keep 2-3 business days in buffer to avoid getting charge for new monthly renewal fees. So best approach would be complete challenge in 17 business days or blow it.
  • #26,457
  • Nov 20, 2023 12:31pm Nov 20, 2023 12:31pm
Quoting sampat
{quote} One needs to make sure it is blown if it is not than you will pay monthly subscription without reset. Also one needs to keep 2-3 business days in buffer to avoid getting charge for new monthly renewal fees. So best approach would be complete challenge in 17 business days or blow it.
But if blown will they really cancel automatically and not charging the monthly fee ? Or we need to cancel it in the dashboard ?

Thinking deeper about this, I think the best is probably to use a virtual card from Revolut or Wise, just for Apex, that we can freeze. This way we never have problems of forgetting or whatever because the card will be frozen, except for purchases. (or monthly fees that we want to pay).
  • #26,458
  • Nov 20, 2023 12:40pm Nov 20, 2023 12:40pm
Quoting Capablanca
{quote} But if blown will they really cancel automatically and not charging the monthly fee ? Or we need to cancel it in the dashboard ? Thinking deeper about this, I think the best is probably to use a virtual card from Revolut or Wise, just for Apex, that we can freeze. This way we never have problems of forgetting or whatever because the card will be frozen, except for purchases. (or monthly fees that we want to pay).
Nope it is ok to blow accounts . They love it. Your subscription is not cancelled until you cancel manually from dashboard or you cancel credit card.
Only issue if you dont breach your account. Lets say you are going steadily and month end you are at negative -2K on 50K account with allowed 2.5K drawdown. Your account will not get reset. You will pay fees with no reset. Also if you pass on last day of the billing cycle or one day before. You will still get charge for monthly fees. So best approach would be budget for 15 trading days and YOLO for remaining.
  • #26,459
  • Nov 20, 2023 2:12pm Nov 20, 2023 2:12pm
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Don't give up on your dreams. Keep sleeping.
  • #26,460
  • Nov 20, 2023 5:55pm Nov 20, 2023 5:55pm
Quoting FocusWinReal
{quote} Hardly seems fair doesn't it?
It's theft
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