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  • #30,681
  • Feb 15, 2024 10:24am Feb 15, 2024 10:24am
I think the prop industry has just died for Americans or anyone living in America.
  • #30,682
  • Feb 15, 2024 10:30am Feb 15, 2024 10:30am
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  • #30,683
  • Feb 15, 2024 10:39am Feb 15, 2024 10:39am
To me it looks like the CFTC is angry about the development with MFF on court and now they are playing muscles to show what power they have. That way I can understand the MQ order recently. They can only instruct MQ and brokers without having license, that no CFDs are offered to US residents. That is just the old regulation but NOW again reactivated to make sure that it is what it was and is.

Conclusion also is that MFF did nothing wrong except offering CFDs to US residents without having the license to do so. But MFF is financially so powerful that those $20 million for registering would be only a minor fee for them if they can keep their business. So the CFTC is in defense position now, so they shout out everywhere what they already decided many years ago, that no CFDs cannot be offered to US except they are registered like Oanda, Forex.com etc. That is all what they can do here.
  • #30,684
  • Feb 15, 2024 10:44am Feb 15, 2024 10:44am
my withdrawal from Funding pips has been processed just now. In case someone got account with profit can request to withdraw.
  • #30,685
  • Feb 15, 2024 10:48am Feb 15, 2024 10:48am
The only thing from UK, AUS and other regulations to prop firms will be that they use proper leverage as it is allowed in ESMA regulation and also in whole Australia. That is all what they can do as CFDs are allowed to trade everywhere else except USA. So this is good news for prop firms, as they will continue to survive I think.

So the only thing from Europe etc. I expect that leverage is capped 30:1 for prop firms. Meaning effective 300:1 leverage with the given max. Drawdown. So no biggy.
Also indices will have 20:1 leverage capped like it is the case for all other brokers. But now then confirmed for props too. Like the same for CFDs on US side. That's it.
  • #30,686
  • Feb 15, 2024 10:57am Feb 15, 2024 10:57am
The prop firm business model will be treated nothing else what it is. Just a b-book game based on user data & statistics. So they will be treated like the other FX brokers. Maybe in EU and Australia they also need a regulated broker behind. So any in-house broker needs to be regulated one. That is all what I could imagine further here. So good news for the prop firms, they will survive I am pretty sure. And for all US residents you can play Apex prop games to infinity.
  • #30,687
  • Feb 15, 2024 11:06am Feb 15, 2024 11:06am
mff has 2 web site, first one look's like is getting ready for business :
https://www.myforrexfunds.com/#
https://myforexfunds.com/
  • #30,688
  • Feb 15, 2024 11:20am Feb 15, 2024 11:20am
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So only in-house brokers are branded ones ? What does Takisd say here ?
  • #30,689
  • Feb 15, 2024 11:21am Feb 15, 2024 11:21am
Quoting TrAndy1
The only thing from UK, AUS and other regulations to prop firms will be that they use proper leverage as it is allowed in ESMA regulation and also in whole Australia. That is all what they can do as CFDs are allowed to trade everywhere else except USA. So this is good news for prop firms, as they will continue to survive I think. So the only thing from Europe etc. I expect that leverage is capped 30:1 for prop firms. Meaning effective 300:1 leverage with the given max. Drawdown. So no biggy. Also indices will have 20:1 leverage capped like it is...
We will be lucky if the comunists here don't demand licenses to be a prop trader.
  • #30,690
  • Feb 15, 2024 11:22am Feb 15, 2024 11:22am
Quoting Capablanca
{quote} We will be lucky if the comunists here don't demand licenses to be a prop trader.
No, because you do not trade stocks or Futures. For CFDs there is no exam. I know this because I had to do my Eurex Futures exam on my real prop firm decades ago.
  • #30,691
  • Feb 15, 2024 11:31am Feb 15, 2024 11:31am
Quoting StreetPunk
mff has 2 web site, first one look's like is getting ready for business : https://www.myforrexfunds.com/# https://myforexfunds.com/
Bro no.. the first link is a scam.
  • #30,692
  • Feb 15, 2024 11:32am Feb 15, 2024 11:32am
Quoting TrAndy1
{image} So only in-house brokers are branded ones ? What does Takisd say here ?
US customers will go. I do not know if the servers will go with them.
  • #30,693
  • Feb 15, 2024 11:43am Feb 15, 2024 11:43am
Quoting TrAndy1
the CFTC is angry about the development with MFF on court and now they are playing muscles to show what power they have.
Quoting TrAndy1
MFF did nothing wrong except offering CFDs to US residents without having the license to do so.
Quoting TrAndy1
MFF is financially so powerful that those $20 million for registering would be only a minor fee for them if they can keep their business. So the CFTC is in defense position now.

Oh God … the totally idiotic garbage that some people here seem, somehow(?!), to believe is just beyond ludicrous.

Absolutely impossible even to try to take the conversation seriously at all.

I wish you all good luck.
  • #30,694
  • Feb 15, 2024 11:44am Feb 15, 2024 11:44am
Who is E8 working with these days ?
(these guys were really unlucky in launching the new parametrized challenges at the exact time when the turmoil started)
  • #30,695
  • Feb 15, 2024 11:47am Feb 15, 2024 11:47am
Quoting Takisd
{quote} Bro no.. the first link is a scam.
good to know, thx!
  • #30,696
  • Feb 15, 2024 11:48am Feb 15, 2024 11:48am
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  • #30,697
  • Feb 15, 2024 11:52am Feb 15, 2024 11:52am
Quoting TrAndy1
{image} {image} {image}
who is azflame Andy?
  • #30,698
  • Feb 15, 2024 11:54am Feb 15, 2024 11:54am
Quoting Takisd
{quote} who is azflame Andy?
Not 100% sure, but looks like a professional with some sources to have a better opinion on the Discord channel of propsafe.io, I follow on Twitter now too.
  • #30,699
  • Feb 15, 2024 11:55am Feb 15, 2024 11:55am
I am already hearing DX will remove US. Amongst other things but today its very noisy, hard to know what is real and what is not. The thing is, remember the props who aren't removing US. They are the problem. Those companies are going to get hurt the most.
  • #30,700
  • Feb 15, 2024 11:55am Feb 15, 2024 11:55am
And to think as an American, I’m trying to make money in this circus. What’s wrong with me.
A snails pace wins the race :-)
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