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  • #27,301
  • Dec 14, 2023 3:51am Dec 14, 2023 3:51am
I would be careful logging into anything new, just as a general rule of thumb. Just make sure that it's legit first.
  • #27,302
  • Dec 14, 2023 8:29am Dec 14, 2023 8:29am
Quoting CableJ
{quote} You know who actually stole money.... Refco, Man Financial, MF Global, PFG best & FXCM..... all were massive CFTC regulated brokers, what the hell were they actually regulating? Last time I was with Oanda they blew out spreads 30-60 pips around reports for damn near 1-2 straight min (<10 sec is normal with FOMC/NFP/CPI releases @ ecn brokers/centralized exchange), again under the watchful eye of the protective CFTC.
Your post caught my eye on the ft page with the word Refco.... The regulated "Refco" cleaned me out in 2005. People are under a false
sense of security with "regulated" firms IMO. Since then Ive traded FX/CFDs offshore accounts only. I have to chuckle when someone says
that is risky...

Just my experience and opinion. (never put all your apples in one basket....use several baskets whether regulated US or not)

Cheers
Blue
Master your Mind,,,Master the Market
  • #27,303
  • Dec 14, 2023 9:36am Dec 14, 2023 9:36am
Quoting bluesteele
People are under a false sense of security with "regulated" firms IMO.
-Yes. Especially people that are not even based in the US and have no idea what they are talking about. Although, I suppose that the self-righteous Americans are worse.
  • #27,304
  • Dec 14, 2023 9:53am Dec 14, 2023 9:53am
Quoting Nsak3y
{quote}-Yes. Especially people that are not even based in the US and have no idea what they are talking about. Although, I suppose that the self-righteous Americans are worse.
People blabber because they dont know pain of not opening forex account in North america. All forex brokers (except Interactive brokers in US and Canada) is piece of shit. And IBKR platform sucks big time though good broker. Now CFTC or FCA shit is coming after offshore brokers too. I received message from FXChoice to withdraw everything crypto as they are banning all crypto as deposit or withdrawal.
All regulators seems to be like pimps as long as they get commission or kickbacks like (Forex.com or oanda) they don't care. Increase spread 4-5 times is normal for them.
  • #27,305
  • Dec 14, 2023 10:13am Dec 14, 2023 10:13am
Quoting bluesteele
{quote} Your post caught my eye on the ft page with the word Refco.... The regulated "Refco" cleaned me out in 2005. People are under a false sense of security with "regulated" firms IMO. Since then Ive traded FX/CFDs offshore accounts only. I have to chuckle when someone says that is risky... Just my experience and opinion. (never put all your apples in one basket....use several baskets whether regulated US or not) Cheers Blue
Is there any "basket" that you use from the UK? or EU? Do these guys have the same fishy vibe as the US ones? since the regulation system of these places is kinda the same tho. If you don't mind could you share with us some names that you're working with?
I currently have some experience with the Aus brokers and so far nothing bad has happened. Wonder if the same case appears in the EU
Btw hearing you guys talk about US cfd brokers, it sounds like "regulated scammers".
  • #27,306
  • Dec 14, 2023 11:23am Dec 14, 2023 11:23am
Quoting longcanlun12
{quote} Is there any "basket" that you use from the UK? or EU? Do these guys have the same fishy vibe as the US ones? since the regulation system of these places is kinda the same tho. If you don't mind could you share with us some names that you're working with? I currently have some experience with the Aus brokers and so far nothing bad has happened. Wonder if the same case appears in the EU Btw hearing you guys talk about US cfd brokers, it sounds like "regulated scammers".
I like Tradenation TD365 UK or Aus...
Not US or Can regulated ...and US or Cad residents can't use these brokers unless you have dual residence in another country.. Viva Mexico

Thing is anything can happen at anytime to any broker. There is no such thing as to big to fail. Al Brooks talks about brokers in one of his videos..
Very relevant to this.

Cheers
Master your Mind,,,Master the Market
  • #27,307
  • Dec 14, 2023 1:42pm Dec 14, 2023 1:42pm
Update:
Killed a challenge account today.
Didn't trade yesterday wanted to wait for the news frenzy to settle except for one little trade to click off another trading day on all accounts. Wednesdays are also my least profitable days.
Down another $200 on PA account today.
Hoping tomorrow I can make $400 and request first payout.
  • #27,308
  • Dec 14, 2023 2:45pm Dec 14, 2023 2:45pm
Quoting bluesteele
anything can happen at anytime to any broker. There is no such thing as to big to fail.

Exactly right. This is why you should use one with a government-backed guarantee of funds, if you can.

The key fact (for non-Americans) is that even after Brexit, you don’t have to live in the UK to be protected by the UK-govt guarantee and by their financial ombudsman service, if you use an FCA-regulated broker. Don't take my word for it: check it out on their websites.

Over 90% of what’s posted here about regulation is just downright delusional, but of course people get very defensive (i.e. they attack you!!) if you even suggest that they may be mistaken - whatever your professional experience. Raw nerves are very, very sensitive indeed!
  • #27,309
  • Dec 14, 2023 4:52pm Dec 14, 2023 4:52pm
Apex are reducing the number of trading days for the Evals from 7 to 1, just for a couple of days, and published a long video explaining how this is a great opportunity that should not be missed to make $80K in january if you buy 20 eval accounts now at 71% and make 4K in each of them in by end of january...

While I like Apex, this kind of move is a bit disappointing from them
Don't give up on your dreams. Keep sleeping.
  • #27,310
  • Dec 14, 2023 7:44pm Dec 14, 2023 7:44pm
Quoting Artcool
Apex are reducing the number of trading days for the Evals from 7 to 1, just for a couple of days, and published a long video explaining how this is a great opportunity that should not be missed to make $80K in january if you buy 20 eval accounts now at 71% and make 4K in each of them in by end of january... While I like Apex, this kind of move is a bit disappointing from them
Most likely due to all the degen CFD prop migrants they onboarded over the past months.

Once a yolo trader…
Trade with confidence, trade without fear.
  • #27,311
  • Dec 14, 2023 8:31pm Dec 14, 2023 8:31pm
Quoting Cryptosurf
{quote} Most likely due to all the degen CFD prop migrants they onboarded over the past months. Once a yolo trader…
Nope not because of that, offer is ending on 27th that means they want year end resets and failures. They are not going to do like Forex prop firms as they already allow 20 accounts, Imagine if someone buys 20 (300K account with 7.5K allowed drawdown) and if he or she gets lucky for 4-5 days they can earn potential 6-7 figures after passing which definitely they don't want.
  • #27,312
  • Dec 15, 2023 12:33am Dec 15, 2023 12:33am
Quoting Cryptosurf
{quote} Most likely due to all the degen CFD prop migrants they onboarded over the past months. Once a yolo trader…
I should contact them and offer to be their YOLO Spokesmodel.

I dress up well when I'm not staring out the window in my underwear.

I'll do it for a free 25K account and an APEX bumper sticker.
Pride always comes before destruction.... -Proverbs 16:18
  • #27,313
  • Dec 15, 2023 12:53am Dec 15, 2023 12:53am
Quoting Artcool
Apex are reducing the number of trading days for the Evals from 7 to 1, just for a couple of days, and published a long video explaining how this is a great opportunity that should not be missed to make $80K in january if you buy 20 eval accounts now at 71% and make 4K in each of them in by end of january... While I like Apex, this kind of move is a bit disappointing from them
And then they have a whole page and a 1 hour video saying how much they despite gamblers.
  • #27,314
  • Dec 15, 2023 12:56am Dec 15, 2023 12:56am
Quoting Expo33
{quote} I should contact them and offer to be their YOLO Spokesmodel. I dress up well when I'm not staring out the window in my underwear. I'll do it for a free 25K account and an APEX bumper sticker.
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #27,315
  • Dec 15, 2023 1:19am Dec 15, 2023 1:19am
Quoting Capablanca
{quote} And then they have a whole page and a 1 hour video saying how much they despite gamblers.
Just like The Funded Trader. (and many more)

"We're looking for consistent professional traders" but let us introduce you to Joe YOLO who passed our 3 Phase Dragon Challenge in 24 hours.
Pride always comes before destruction.... -Proverbs 16:18
  • #27,316
  • Dec 15, 2023 1:23am Dec 15, 2023 1:23am
APEX is fully automated. Signing process takes a minute max. and then you need to pay for each account. Within 5 minutes the whole procedure is done and you can trade on your new PA accounts there. Very good and smooth. ( I have 5 of those certificates below now, which all look the same.)
Attached Image (click to enlarge)
Click to Enlarge Name: 2023-12-15_083020.jpg Size: 80 KB
  • #27,317
  • Dec 15, 2023 2:18am Dec 15, 2023 2:18am
Quoting TrAndy1
APEX is fully automated. Signing process takes a minute max. and then you need to pay for each account. Within 5 minutes the whole procedure is done and you can trade on your new PA accounts there. Very good and smooth. ( I have 5 of those certificates below now, which all look the same.) {image}
So, in Apex you pass the evaluation and there is no BS like the forex props that they need to check the trades of phase 2 and all those lies they tell us to delay credentials for one or two days to delay a potential payout in the future ? That's cool.
  • #27,318
  • Dec 15, 2023 2:22am Dec 15, 2023 2:22am
For what i experienced, FTMO, The5%ers, CTI are top propfirms since they are old.
  • #27,319
  • Dec 15, 2023 3:41am Dec 15, 2023 3:41am
Quoting Capablanca
And then they have a whole page and a 1 hour video saying how much they despite gamblers.
-I believe that this term has been so loosely thrown around by these remote FX prop firms as an excuse to fail traders, that people have started using it as a sort of blanket term for anything that is considered relatively higher-risk.

If I make a calculated move and risk 10% per trading idea, vs. your 2%, does that make me a gambler? If so, why? Does risk-tolerance define it? And if my win-rate is 90+ percent, does that change anything? And what if I am swinging 2 trades per year?

For me, any trading that is simply hoping for the best is gambling, whether that be straddling the news, hedging accounts or using max leverage without any clear strategy etc.. And the reality is, it may be extremely difficult, short of a confession, to know whether someone is actually doing these things, depending on the circumstances.

However, if you see a consistent trader with skills that are statistically undeniable, then it should not matter whether that trader is doing 1% per month or flipping an account in under 4 hours etc., it all comes down to risk-tolerance.

If that trader hits a losing streak and starts digging themselves into a hole without reducing position size, even that is not gambling... it's just poor risk-management.

This is why having a track record is important. Let your trading history do the talking (challenge phase), and let their risk-tolerance (draw-down allowance) set the boundaries of your trading.
  • #27,320
  • Dec 15, 2023 4:09am Dec 15, 2023 4:09am
Quoting Expo33
{quote} Just like The Funded Trader. (and many more) "We're looking for consistent professional traders" but let us introduce you to Joe YOLO who passed our 3 Phase Dragon Challenge in 24 hours.
Hi Joe Yolo here. If you want to be an amazing forex trader just like me, sign up with my affiliate link below.
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