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  • #31,181
  • Feb 19, 2024 1:32pm Feb 19, 2024 1:32pm
Quoting Takisd
My belief from my various sources is that the CFTC does not want a prop business in the US or servicing US at all. Even if you have an RFED registration its likely the model would be fined to oblivion until it stopped.
-Yes. But the good thing is, the CFTC has very limited jurisdiction over offshore entities that do not accept US citizens. So, we will likely see what we currently see with offshore brokerages that secretly and anonymously offer services to US traders while establishing operations in jurisdictional safe-havens. Except, this time, it will probably be with some software other than Metatrader.

It should be possible, so long as the new software provider positions themselves so that they have ample room to claim ignorance, thus leaving them untouchable from regulators and forcing regulation at the broker-level. All should be good in the neighborhood at that point, just like my offshore brokerages that get placed on red lists and continue to provide services to me.
  • #31,182
  • Feb 19, 2024 1:33pm Feb 19, 2024 1:33pm
"Not putting everything in public. Just posting one each related to FP [One from the anonymolus source and the one I received from FP in their defence] as they accepted that they used these services. But only for commenting regarding their rules as they have little or no presence on Telegram. I have the payment proofs also. FP did accepted that they paid. So not posting the payment proofs. This is not FP alone. There are more firms. Cant post those as today submitted to a regulator in Europe. Left side is FP's defence. Right side is one of the documents we received."
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  • #31,183
  • Feb 19, 2024 1:36pm Feb 19, 2024 1:36pm
I think it is only fair to share Funded Next’s side here. I personally appreciate when a company or leader accepts accountability and responds - so there were big points gained in my eyes for their doing so.

Hello dear trader
@Markos_mom
, first of all, accept our apologies that you had a bad experience during your payout process. To clear out a few misconceptions, here are a few points : For the Trader : - First and foremost, we would like to re-affirm that the payout has not been DENIED. We have only asked for clarification about the matching trades. Most traders who have honestly taken the trades have more than reliable information regarding their trades in these cases [including your case] and their payouts are made promptly without delay. - We have not been delaying any communication intentionally. Your mails with clarification regarding trades and regarding your Darwinex account were made after our working hours for the Case Resolution team had ended *today*. We are trying to make this department available after hours as well in the near future. - We have since looked at the emails you’ve sent and the clarification you’ve shared which is more than convincing. We are processing your payout at the earliest. Congratulations on your 2nd payout with FundedNext! Thank you so much for your patience, looking forward to giving you a better experience with your payout the next time around. For the Community : - It is not true that in order to get one’s case resolved, one needs to resort to X & other review pages for help. We handle hundreds of payouts daily, if there are cases like this where we seek more clarification, even if there is any confusion whatsoever, we always give the trader the benefit of the doubt. Yes, tweeting about it helped fasten the process in this particular case, however, please be rest assured that this would have been completed tomorrow anyways, even if the trader had no social media accounts. - As part of our ‘Payout Guarantee’ Brand Promise, no payouts are ‘denied’. We honor a trader's payout even if the trader in question is blatantly guilty. - We understand that certain strategies can have more similarity in entry, exit times. For example a lower time frame ICT FVG based strategy during peak market hours can have similar entries and exits among multiple traders. We understand this loud and clear, and we do consider and disregard this in our decision making. With all this being said, we do acknowledge that the situation is unfortunate and we do not want traders on our platform to feel this way. We are actively working on our systems to improve our operations. Thank you all for your continued support. For full transparency, attached is a memo from the Case Resolution team regarding the timeline of events.

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  • #31,184
  • Feb 19, 2024 1:37pm Feb 19, 2024 1:37pm
Quoting acetrader
{quote} Hi TrAndy1, Thank you for sharing your, views & comments. Just had a chat with Alpha Capital Group & one of their reps advise in two-to-four-weeks MT 5 will be replaced with DXTrade. So, no more MT5 there. So, I have three questions for you & anyone else that wants to weight in. 1. Will all FX & Futures Brokers be dropping MT4 & 5 charts or is this only specific to prop firms only? 2. Why would it be best to onboard with E8 Market at this time. Want they be out of reach for USA trader soon? 3. In your view is it best for USA traders to now...
I still didn't understand if non US can go on trading in MT in these props.
  • #31,185
  • Feb 19, 2024 1:39pm Feb 19, 2024 1:39pm
Quoting Capablanca
{quote} I still didn't understand if non US can go on trading in MT in these props.
They can. It is only for US residents restricted.
  • #31,186
  • Feb 19, 2024 1:39pm Feb 19, 2024 1:39pm
Quoting TrAndy1
Swift Funding restricted new purchases by US clients. They will refund the fee for all those who have active accounts with them. {image}
I've not been much online today but this, although expected, seems a carnífice all day long.
  • #31,187
  • Feb 19, 2024 1:40pm Feb 19, 2024 1:40pm
Quoting Nsak3y
{quote}-Yes. But the good thing is, the CFTC has very limited jurisdiction over offshore entities that do not accept US citizens. So, we will likely see what we currently see with offshore brokerages that secretly and anonymously offer services to US traders while establishing operations in jurisdictional safe-havens. Except, this time, it will probably be with some software other than Metatrader. It should be possible, so long as the new software provider positions themselves so that they have ample room to claim ignorance, thus leaving them untouchable...
They have bigger jurisdiction. If you see in past same thing happened with Binary options. US banned it followed by Canada and Europe.
Same thing with Dodd Frank rule, US reduced leverage, Canada Followed and now most of regulated Europe broker have reduced leverage.
CFTC is like corona virus you don't even know from where you will get infected.
Also with Prop firms is they depends on loosing traders or subscriptions. The only thing they need to do is create panic people will fail to trust them and their target achieved.
  • #31,188
  • Feb 19, 2024 1:42pm Feb 19, 2024 1:42pm
Quoting TrAndy1
Alpha Capital Group restricted US clients from purchasing new accounts. {image} Last time I said I have different opinion with them regarding US client purchases. Now this announcement by them aligned with mine. Just to address one point in this statement. I can confirm that they are certainly exploring the options of getting a letter of no action from CFTC. I wont say beyond this. Probabilities are very low. Atleast they are making an effort. That is a good thing. I wish them all the best. None of the US firms tried till now. Still waiting for...
Alpha and 5ers were saying that they were fine, bla bla bla.
It's all bullsh*
  • #31,189
  • Feb 19, 2024 1:43pm Feb 19, 2024 1:43pm
Quoting TrAndy1
Have you ever wondered which country has the best traders? Using 24 months of data, we ranked the traders of the top 20 countries by registration on 5 categories: total payouts, unique payouts, breach rate, account duration and scaling rate. Each country was scored a max of 20 points per category, from the highest ranked to lowest. All of the points were then combined to assign an overall power ranking out of 100. {image} {image}
So this trashes the idea that traders from Vietnam are very good traders.
  • #31,190
  • Feb 19, 2024 1:43pm Feb 19, 2024 1:43pm
Quoting Capablanca
{quote} Alpha and 5ers were saying that they were fine, bla bla bla. It's all bullsh*
Yes those two and CTI are particularly arrogant lately.
  • #31,191
  • Feb 19, 2024 2:03pm Feb 19, 2024 2:03pm
Quoting PropDude1234
{quote}'There's plenty' isn't actual evidence. Whereas MQ have been spoken to brokers and telling them about the App Store risk.
Takisd is 90% wrong. He lives on rumours, conspiracies, gossip.
  • #31,192
  • Feb 19, 2024 2:05pm Feb 19, 2024 2:05pm
Quoting Takisd
{quote} Yes those two and CTI are particularly arrogant lately.
Including FXIFY. I asked them today and they said to me that if they had any issues with US clients they'd have told me, but that it wasn't the case. I trade from the UK. I haven't bought their challenge yet. I was going to do so today but decided to hold on. I think Oanda's Labtrader is a good option but I haven't know yet if they accept UK clients.
  • #31,193
  • Feb 19, 2024 2:05pm Feb 19, 2024 2:05pm
Quoting Takisd
My belief from my various sources is that the CFTC does not want a prop business in the US or servicing US at all. Even if you have an RFED registration its likely the model would be fined to oblivion until it stopped. I would love for that to be incorrect and hope that in the future the CFTC will take steps to not exclude the US market participants from innovative change in the markets.
  • #31,194
  • Feb 19, 2024 2:06pm Feb 19, 2024 2:06pm
While we are temporarily suspending new account purchases for clients based in the United States through MyFlashFunding, existing traders from the USA can continue their trading activities uninterrupted.
We want to reassure our valued traders outside of the US that they remain unaffected by these changes.
Understanding the evolving landscape of our industry, we are committed to adding additional platforms to enhance the trading experience for our loyal traders worldwide.
  • #31,195
  • Feb 19, 2024 2:14pm Feb 19, 2024 2:14pm
Quoting TraderTero
While we are temporarily suspending new account purchases for clients based in the United States through MyFlashFunding, existing traders from the USA can continue their trading activities uninterrupted. We want to reassure our valued traders outside of the US that they remain unaffected by these changes. Understanding the evolving landscape of our industry, we are committed to adding additional platforms to enhance the trading experience for our loyal traders worldwide.
Correct, here is the proof too.
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  • #31,196
  • Feb 19, 2024 2:21pm Feb 19, 2024 2:21pm
Another trader at FN got his $50k payout denied being accused for account management, as they had "detected" similar trades from different accounts. Others also got denied because of that but with smaller payouts or before they got the funded account after Phase 2 already. Strange things go on at Funded Next. Avoid this prop.
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  • #31,197
  • Edited 2:48pm Feb 19, 2024 2:26pm | Edited 2:48pm
New Prop popping up. As warning.
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Interview per video chat is mandatory for payouts above $5k and they are in Estonia located. Taurex is their broker.
  • #31,198
  • Feb 19, 2024 2:31pm Feb 19, 2024 2:31pm
Quoting TrAndy1
New Prop popping up. As warning. {image}
This is a guy i believe who was scammed by rocket21 but i could be wrong. My impression of him is that he has good intentions but lacks the know how.
  • #31,199
  • Feb 19, 2024 2:45pm Feb 19, 2024 2:45pm
Quoting procrude
Its my dream to have so much money that I can trade directly through the Banks. I would trade with WellsFargo WatsFX platform. {image}
I hope you succeed with your goal!
You have an IQ lower than 90 if you interact with this user.
  • #31,200
  • Feb 19, 2024 2:47pm Feb 19, 2024 2:47pm
Quoting TrAndy1
New Prop popping up. As warning. {image}
I am truly amazed and baffled that people are still launching new firms
60 traders viewing now