Prop Firm Hub | Page 1556 | Metals Mine

Options

Go to
Permalinks
Print Thread

Similar Threads

Anyone trading with a Prop firm 31 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

prop firm new model - my trading journey 871 replies

Attachments: Prop Firm Hub
Exit Attachments

Prop Firm Hub

  • #31,101
  • Feb 19, 2024 9:58am Feb 19, 2024 9:58am
Quoting sampat
If prop firms are switching to DXTrade what makes CFTC to not go after them like MetaQuotes?
lol.....nothing. This is a band-aid to keep collecting $$$$$$$$$$$$.
  • #31,102
  • Feb 19, 2024 9:59am Feb 19, 2024 9:59am
Quoting sampat
If prop firms are switching to DXTrade what makes CFTC to not go after them like MetaQuotes?
They will, fairly quickly.
  • #31,103
  • Feb 19, 2024 10:03am Feb 19, 2024 10:03am
Quoting Takisd
{quote} They will, fairly quickly.
You could already complain it to the CFTC that they are still allowing trading CFDs but just with another platform. Many others will that do too.
  • #31,104
  • Feb 19, 2024 10:06am Feb 19, 2024 10:06am
Quoting TrAndy1
{quote} You could already complain it to the CFTC that they are still allowing trading CFDs but just with another platform. Many others will that do too.
I don't complain to the CFTC. They are on their own from my side.
  • #31,105
  • Feb 19, 2024 10:11am Feb 19, 2024 10:11am
"Not fear mongering. Just a small advice [based on what I'm aware] to those who want to listen. Others can ignore. Be cautious while buying eval accounts from firms operating from USA [If you have limited monetary resources avoid buying from these firms all together]. As posted earlier, these firms have a few months time to shift from USA. Don't assume nothing will happen. You can ignore my posts all together. But do think when a vendor systematically forcing the brokers to pull the services for US clients, you need to think. DXTrade or Matchtrader are not the solutions. Soon mails will pile up at DXTrader and CFTC inboxes on this as some firms wont be using them. If firms not leaving on their own, risks of enforcement action increases. Do remember that years back US regulators forced every FX broker to leave without doing much of an enforcement [They gone after a few and forced more than 100 to leave through their actions]. Eval firms probably not seeing the message. Their time clock is ticking. Firms won't suffer much. As a customer you will suffer getting stuck. Be cautious."
  • #31,106
  • Feb 19, 2024 10:15am Feb 19, 2024 10:15am
Swift Funding restricted new purchases by US clients. They will refund the fee for all those who have active accounts with them.
Attached Image (click to enlarge)
Click to Enlarge Name: GGtlfhab0AAA4fz.jpg Size: 80 KB
  • #31,107
  • Feb 19, 2024 10:18am Feb 19, 2024 10:18am
Attached Image (click to enlarge)
Click to Enlarge Name: 2024-02-19_171746.jpg Size: 97 KB
  • #31,108
  • Feb 19, 2024 10:21am Feb 19, 2024 10:21am
Quoting TrAndy1
{image}
99% of these firms with their 20 year old CEO sitting in Mommy's basement do not have a "legal" team. Man this industry turned bad REAL quick once the white label tech popped up.
  • #31,109
  • Feb 19, 2024 10:22am Feb 19, 2024 10:22am
Swift, MFFX, Audacity, Bespoke, FCF, FT+ banned US today, so far as the day is not over

It is all days red news for prop firms these weeks.
  • #31,110
  • Feb 19, 2024 10:25am Feb 19, 2024 10:25am
Quoting pipmaster77
{quote} 99% of these firms with their 20 year old CEO sitting in Mommy's basement do not have a "legal" team. Man this industry turned bad REAL quick once the white label tech popped up.
I am even very skeptical of FTMO's legal team right now. But lets see.
  • #31,111
  • Feb 19, 2024 10:28am Feb 19, 2024 10:28am
Andy, or anyone,


Will Non prop firm futures brokers be dropping MT 5? What about Non prop firm forex brokers will they be dropping MT 4 & 5?
Andy thank you for your previous response.
  • #31,112
  • Feb 19, 2024 10:29am Feb 19, 2024 10:29am
Quoting acetrader
Andy, or anyone, Will Non prop firm futures brokers be dropping MT 5? What about Non prop firm forex brokers will they be dropping MT 4 & 5? Andy thank you for your previous response.
No I do not think so for both questions.
  • #31,113
  • Feb 19, 2024 10:30am Feb 19, 2024 10:30am
Quoting acetrader
Andy, or anyone, Will Non prop firm futures brokers be dropping MT 5? What about Non prop firm forex brokers will they be dropping MT 4 & 5? Andy thank you for your previous response.
Most of the reliable props will drop US completely and operate with metatrader 5 still.
  • #31,114
  • Feb 19, 2024 10:34am Feb 19, 2024 10:34am
I have a live account with forex.com (gain capital), one with IG and also a small account with Oanda and I have MT5 with all of them for the longest. they are not dropping it.

Metatrader is stepping away from Prop industry only because the whole business idea behind prop industry is basically a Ponzi scheme.

They make too much money so they will keep doing what they can to keep this industry alive. Look at MyForexFunds, they made 300 million in 3 years !
Drawdown is more important than Account Size !
  • #31,115
  • Feb 19, 2024 10:36am Feb 19, 2024 10:36am
TrAndy1 & Takisd,
Thank you for your responses.
  • #31,116
  • Feb 19, 2024 10:40am Feb 19, 2024 10:40am
Quoting Takisd
{quote} They will, fairly quickly.
Where's the evidence the CFTC went after MQ?

MQ are worried about being taken out of the app store.
  • #31,117
  • Feb 19, 2024 10:41am Feb 19, 2024 10:41am
Quoting TrAndy1
Swift, MFFX, Audacity, Bespoke, FCF, FT+ banned US today, so far as the day is not over It is all days red news for prop firms these weeks.
Some banned US traders on on MT4/5 only.
  • #31,118
  • Feb 19, 2024 10:42am Feb 19, 2024 10:42am
Attached Image (click to enlarge)
Click to Enlarge Name: 2024-02-19_174148.jpg Size: 101 KB

FE restarts now.
  • #31,119
  • Feb 19, 2024 10:43am Feb 19, 2024 10:43am
Quoting procrude
I have a live account with forex.com (gain capital), one with IG and also a small account with Oanda and I have MT5 with all of them for the longest. they are not dropping it. Metatrader is stepping away from Prop industry only because the whole business idea behind prop industry is basically a Ponzi scheme. They make too much money so they will keep doing what they can to keep this industry alive. Look at MyForexFunds, they made 300 million in 3 years !
Hi procrude,

I hope you're doing well. Thank you for weighing in! Since you mentioned those three firms would you share you experience with each as I have given thought to trying a demo with all three. Maybe PM me if you think that more appropriate. I would greatly appreciate your views & experiences with the 3 firms. Best of trade to you.
  • #31,120
  • Feb 19, 2024 10:45am Feb 19, 2024 10:45am
True Forex Funds cTrader on the App Store
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_0016.jpg Size: 22 KB
58 traders viewing now, 1 is registered:
DaXielFX