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  • #28,241
  • Jan 13, 2024 9:51pm Jan 13, 2024 9:51pm
Quoting Smmtrader
Please check if the prop firm is in the red list below: https://www.cftc.gov/LearnAndProtect...ck/redlist.htm
The so called "red list" is meaningless.
  • #28,242
  • Jan 14, 2024 4:51am Jan 14, 2024 4:51am
Quoting Nsak3y
I personally find it interesting how all of the trolls began to peak their heads out from behind the bushes only after the CFTC targeted MFF. What a great opportunity to come here and trash other people so that you can feel better about yourself. The pattern is easy to recognize... the arrogance, almost always coupled with laughter and an emoji somewhere, the assumptions and condescending remarks without any meaningful contributions, whatsoever etc.. What a sad way to go through life.
the irony is the comments that are clearly made up of information from forum/twitter/tg group posts and not actually reading the documents from the case. Its almost like its intentionally to mislead. The amount of sniffing of ones own farts from these people is boring.
  • #28,243
  • Jan 14, 2024 5:05am Jan 14, 2024 5:05am
Quoting Takisd
{quote} Are you going to screenshot it and send it to other people if I reply? my perspective is that in the current environment it is not props you should be afraid of but vendors. If any vendor takes action it can completely collapse any company scam or not. It’s what happened with brokers so many years ago. We already see some trouble when stripe dumped props, so who knows what happens when whoever they are now using drops them. Or their banks stop them or MetaTrader
What do you mean by vendors ? The ones providing services to props, like Meta or tech providers.
  • #28,244
  • Jan 14, 2024 5:11am Jan 14, 2024 5:11am
Anyone using MyFlushFunding ??
Just find out payout bi-weekly they mean
14 days trading days they are different
  • #28,245
  • Jan 14, 2024 5:11am Jan 14, 2024 5:11am
Quoting Nsak3y
I personally find it interesting how all of the trolls began to peak their heads out from behind the bushes only after the CFTC targeted MFF. What a great opportunity to come here and trash other people so that you can feel better about yourself. The pattern is easy to recognize... the arrogance, almost always coupled with laughter and an emoji somewhere, the assumptions and condescending remarks without any meaningful contributions, whatsoever etc.. What a sad way to go through life.
At this moment most of us know who they are. I jump over their posts like they don't exist because their added value is zero and my time value is not zero.
  • #28,246
  • Jan 14, 2024 5:18am Jan 14, 2024 5:18am
Prop´s best advantage in my humble, is the protection from "Black Swan".

I just checked the Legal Documents of my broker, IC Markets.
Bottom line: on a Black Swan spike, you could lose the whole account, and not more, I think that is an EU requirement (negative balance protection)
You better check if you live somewhere else. People lost their accounts, property and underwear.
Best is to keep pulling out your profits and increase leverage as if all the money was still in the broker account.

Some "Black Swan beauties": M5 spikes.
GBPUSD
2016 1772 pips.
2016 1109 pips
1992 930 pips.

EURCHF: On January 15, 2015
"04:35:16 - While there are still no valid quotes on EBS, 3 bid quotes from FXCM liquidity provider bounce within a 6000 pip range in 2 seconds: 1.1078, 0.5696, 0.9769"

Dow had a flash crash on 2015, algos going crazy.

Stops were not triggered, honoured, nobody on the other side of the trade.Same if you found yourself in massive profit, could not close the trade, only after, some people even with a small loss.
Bottom line is: next "Birdie" is probably already waiting around the corner.
Please beware.
  • #28,247
  • Jan 14, 2024 5:32am Jan 14, 2024 5:32am
Quoting Capablanca
{quote} What do you mean by vendors ? The ones providing services to props, like Meta or tech providers.
Mostly payment companies and metatrader.
  • #28,248
  • Jan 14, 2024 5:53am Jan 14, 2024 5:53am
Quoting HengkiTjen
Anyone using MyFlushFunding ?? Just find out payout bi-weekly they mean 14 days trading days they are different
I'm doing a challenge there. That is owned by the same guy than Blue Guardian.

It's not 14 trading days, it's just 14 days. At least that's what they have written in FAQs.

"Payout Frequency and Virtual Profit Split

  1. The first payout will be made 14 days after the first trade, and subsequent payouts will be made every 14 days. Payouts will be processed within 24-48 hours.
  2. Subsequent withdrawals can be requested 14 days from the date following your previous withdrawal.
  3. Traders can withdraw 80% of their simulated profits."


Are you sure this is 14 trading days ?

  • #28,249
  • Jan 14, 2024 6:02am Jan 14, 2024 6:02am
Quoting cuchuflito
Prop´s best advantage in my humble, is the protection from "Black Swan". I just checked the Legal Documents of my broker, IC Markets. Bottom line: on a Black Swan spike, you could lose the whole account, and not more, I think that is an EU requirement (negative balance protection) You better check if you live somewhere else. People lost their accounts, property and underwear. Best is to keep pulling out your profits and increase leverage as if all the money was still in the broker account. Some "Black Swan beauties":...
good point
  • #28,250
  • Jan 14, 2024 6:31am Jan 14, 2024 6:31am
Quoting Nsak3y
{quote}-In that case, anecdotal or not, it is what you experienced. Same as many traders here; we know what the conditions were (and were not) like. Similarly, if anyone saw anything fishy, then that information would spread very quickly. So to say that we cannot put any weight on our own (or collective) experiences with regard to what MFF did or didn't do, I would have to disagree. As a trader, you know if something isn't right. Which means, in response to your original comment: {quote}{quote}-I'd say that we have a pretty good idea, just based...
There were, IIRC, 26,000 people who went to the 'live' accounts. Plenty of scope for naughty behaviour.

As I wrote previously, there was a discussion about anyone over 5% being put on a harder live group. In terms of whether the people they really shafted were actual cheaters, we don't know that and our personal experiences obviously don't tell us that.

The idea a consumer will know is a bit naive. There are plenty of props with back-end access to MetaTrader and the servers (even when working with a broker) who are clearly messing with things. You can manipulate something like depth to a much greater degree before people notice IMO. Some push it way too far like TFT and it becomes obvious, but they're still huge.

This is one drawback for the 'anti-regulation' / 'anti-government' types. At least with regulation you have some safeguards when it comes to fills and execution (see CFD regulators in Europe / Australia for how this works).

Quoting cuchuflito
Prop´s best advantage in my humble, is the protection from "Black Swan". I just checked the Legal Documents of my broker, IC Markets. Bottom line: on a Black Swan spike, you could lose the whole account, and not more, I think that is an EU requirement (negative balance protection).
Which is how the real markets work.

This is a great example of regulatory protection for the retail consumers. The ASIC (Australian regulator) adopt this protection as well. The offshore licences probably won't have this protection (unless the broker applies it voluntarily).
  • #28,251
  • Jan 14, 2024 6:40am Jan 14, 2024 6:40am
Quoting cuchuflito
Prop´s best advantage in my humble, is the protection from "Black Swan". I just checked the Legal Documents of my broker, IC Markets. Bottom line: on a Black Swan spike, you could lose the whole account, and not more, I think that is an EU requirement (negative balance protection) You better check if you live somewhere else. People lost their accounts, property and underwear. Best is to keep pulling out your profits and increase leverage as if all the money was still in the broker account. Some "Black Swan beauties":...
potential black swan is usdhkd
  • #28,252
  • Jan 14, 2024 8:15am Jan 14, 2024 8:15am
Quoting CableJ
Option 1 - Trade 140K in 100% losable drawdown of someone else's money (MFF + FTMO + E8 + TFF + TFT) that cost me <$2000 to accumulate after discounts & refunds Option 2 - Put 140K of my own money at risk Even if Option 1 cost me 6-7K with no discounts + refunds, I would have still gone that route.
Yet, we are the "knuckleheads". The funny thing is, those of us using prop firms properly and successfully.........I guarantee our perosnal accounts are larger than any of the "smart" ones on here claiming what idiots we are.
Used correctly, the props are simply an accelerator for your personal funds.
  • #28,253
  • Jan 14, 2024 8:17am Jan 14, 2024 8:17am
Quoting AaronPriest
{quote} The so called "red list" is meaningless.
Not meaningless.....I actually use it to choose my brokers....it is the ONE thing the CFTC has done that benefits me.......publish a list of brokers/firms that are actually out of their reach.
  • #28,254
  • Jan 14, 2024 9:03am Jan 14, 2024 9:03am
Quoting pipmaster77
{quote} Not meaningless.....I actually use it to choose my brokers....it is the ONE thing the CFTC has done that benefits me.......publish a list of brokers/firms that are actually out of their reach.
LOL! Sure, but I meant in the way people try to use it, haha! It's such a mafia mentality to basically say: these are firms we don't like that we can't strongarm and extort, but have not been convicted of committing any crimes. So we're just going to dox them instead out of spite. That is not justice or defending citizen's rights or any legitimate use of civil government.
  • #28,255
  • Jan 14, 2024 10:07am Jan 14, 2024 10:07am
Quoting PropDude1234
{quote}There were, IIRC, 26,000 people who went to the 'live' accounts. Plenty of scope for naughty behaviour. As I wrote previously, there was a discussion about anyone over 5% being put on a harder live group. In terms of whether the people they really shafted were actual cheaters, we don't know that and our personal experiences obviously don't tell us that. The idea a consumer will know is a bit naive. There are plenty of props with back-end access to MetaTrader and the servers (even when working with a broker) who are clearly messing with things....
and just like a broker......if the conditions become worse than what I deem acceptable......I stop using that particular broker/firm. So, basically, in a nutshell, regularors are there to protect those that can't figure it out for themselves. As I've stated many times....just the way they want it, dumb everyone down so they cannot think for themselves, make them reliant upon you and then you have TOTAL CONTROL. There was a great example of this at play the past 3.5 years. Just a little experiment to see how much they could actually control people.
  • #28,256
  • Jan 14, 2024 10:45am Jan 14, 2024 10:45am
Quoting pipmaster77
{quote} and just like a broker......if the conditions become worse than what I deem acceptable......I stop using that particular broker/firm. So, basically, in a nutshell, regularors are there to protect those that can't figure it out for themselves. As I've stated many times....just the way they want it, dumb everyone down so they cannot think for themselves, make them reliant upon you and then you have TOTAL CONTROL. There was a great example of this at play the past 3.5 years. Just a little experiment to see how much they could actually control...
Exactly
  • #28,257
  • Jan 14, 2024 10:47am Jan 14, 2024 10:47am
Quoting PropDude1234
There were, IIRC, 26,000 people who went to the 'live' accounts. Plenty of scope for naughty behaviour.
-And as mentioned, traders with experience know if something fishy is going on. We already knew what MFF were doing. Not only could we see it ourselves (because it was literally measurable), they even talked about various measures that they were taking against bad players.

All of the unseen stuff that you talk about just doesn't matter because their conditions were tradable (and reasonable) and traders could still be profitable. A trader does not need to know every little thing that a broker is doing with xyz plugin in order to know whether or not they can be profitable. Any bad news in this space spreads quickly and we usually know about it within minutes of it happening.

It's simple. If a prop or broker starts doing nefarious things (or has unreasonable conditions), we self-regulate and/or simply do not use them to begin with. If they are doing stupid things, then we spread that news and traders simply stop using them. As traders, we must learn to mitigate our risks appropriately, and to not rely so heavily on various regulatory groups that, in my case, do not really help much to begin with.

Quoting PropDude1234
In terms of whether the people they really shafted were actual cheaters, we don't know that and our personal experiences obviously don't tell us that. The idea a consumer will know is a bit naive.
-But we do have some idea about that, because every time some bad news about a firm started floating around, we paid very close attention to what was being said from both sides, carried out our own investigations and so forth.

I will add that the traders that were funded, were trading the house's money once they received their refund. Many traders pulled thousands of dollars in profit out. So the idea that we were getting 'shafted' by MFF's manipulations seems just as speculative and nonsensical as the argument that we just couldn't have known. The cheaters were getting shafted. We already know that and we were glad that MFF were being proactive about it because it was bad for the business model.

Quoting PropDude1234
At least with regulation you have some safeguards when it comes to fills and execution (see CFD regulators in Europe / Australia for how this works).
-A lot of good that is doing us.
  • #28,258
  • Jan 14, 2024 10:56am Jan 14, 2024 10:56am
Quoting Nsak3y
{quote}-And as mentioned, traders with experience know if something fishy is going on. We already knew what MFF were doing. Not only could we see it ourselves (because it was literally measurable), they even talked about various measures that they were taking against bad players. All of the unseen stuff that you talk about just doesn't matter because their conditions were tradable (and reasonable) and traders could still be profitable. A trader does not need to know every little thing that a broker is doing with xyz plugin in order to know whether...
You are others who are interested enough to use a niche website and discuss it may be switched on enough to recognised nuanced changes, but you and those others are likely at the top end of knowledge of props.

I would bet 90% have no idea. If they did, firms like TFT would likely not exist as the manipulation is blatant and measurable. I'd rather them be prohibited in doing it in the first place rather than relying on the customer to police the firm.
  • #28,259
  • Jan 14, 2024 11:40am Jan 14, 2024 11:40am
One of my friends personal experience with fundednext.

He was given 1;100 leverage during phase 1 and phase 2.

On passing, his leverage is reuced to 1 : 10.

However, the payouts are much improved now it seems, he got 1 st payout within a day.

People to be aware
Intraday only.
  • #28,260
  • Jan 14, 2024 12:09pm Jan 14, 2024 12:09pm
Quoting navk
One of my friends personal experience with fundednext. He was given 1;100 leverage during phase 1 and phase 2. On passing, his leverage is reuced to 1 : 10. However, the payouts are much improved now it seems, he got 1 st payout within a day. People to be aware
should his live leverage be 100:1 ?
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