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  • #32,721
  • Mar 7, 2024 9:56am Mar 7, 2024 9:56am
Today I was running an uninstaller in my PC. My desktop seemed a cemetery of MT/5 stuff
  • #32,722
  • Mar 7, 2024 9:56am Mar 7, 2024 9:56am
What do you think about FXBlue Trade copier? Works between or among MT4 and MT5 and it is free.
  • #32,723
  • Mar 7, 2024 10:04am Mar 7, 2024 10:04am
Looks like the CFTC corrected their original lies to the court about the MFF CAD tax transfers presented as transfers to the owner's personal accounts (the urgent need for the asset freeze & shutdown)...

From CFTC vs TFF court docs...

Although the CFTC believes that the record is clear as to the nature of this transfer, it offers this
Corrected Edelstein Declaration as a further measure in that regard and to serve as an
unambiguous document to be used in this litigation on a going forward basis.

The CFTC makes this correction to ensure the documentary record before the Court is
correct and clear. In addition, the CFTC has added a new supervisory attorney and staff attorney
to this matter moving forward.
  • #32,724
  • Mar 7, 2024 10:08am Mar 7, 2024 10:08am
Quoting Takisd
{quote} It was my original thought, but they aren't onboarding props anymore. What is there is there pretty much. Rest have to get a broker license etc. To me it appears that something has happened beyond what we already know.
Hi Takisad,
One of Nova's reps told me if anyone signs up with their firm before 3-11-24 those traders could keep their Mt4 or MT5 platforms. What do you think of them doing that. Nova is being accused of slow to no paying at Trust Pilot, so for me I wouldn't purchase a challenge with them anyway.
  • #32,725
  • Mar 7, 2024 10:10am Mar 7, 2024 10:10am
Quoting Takisd
It was my original thought, but they aren't onboarding props anymore. What is there is there pretty much. Rest have to get a broker license etc. To me it appears that something has happened beyond what we already know.
-Who knows... Maybe they will only allow props that partner with brokers that operate out of jurisdictional safe-havens (or require that props do the same).

It seems likely that their actions up to this point (and going forward) may be dual-purpose. The first being to cover their butts and the second being to give the appearance of good behavior (and deter unwanted attention).

As far as who gets special treatment, maybe it simply comes down to how brokers/firms are positioning themselves. Any unregulated broker/firm that openly admits to accepting US clients while also offering prohibited instruments might be obvious candidates for the chopping block.

Requiring businesses to operate their own server would be an obvious solution to create distance and remove Meta from any rumors or accusations claiming that they are facilitating illegal activity. But perhaps that is not enough for Meta. Perhaps they also needs a blanket of ambiguity in terms of what products and services are actually being offered by these brokers/firms, but just cannot openly admit that.

But as you usually say, not much point in guessing, I suppose. All I know is that there are several offshore, unregulated brokers that are still onboarding US clients and offering OTC products. However, I would venture to guess that most, if not all of them, have some kind of disclaimer on their website that states that they do not offer services to restricted regions (or the more popular verbiage, that their services are not intended for...).
  • #32,726
  • Mar 7, 2024 10:17am Mar 7, 2024 10:17am
Quoting acetrader
{quote} Hi Takisad, One of Nova's reps told me if anyone signs up with their firm before 3-11-24 those traders could keep their Mt4 or MT5 platforms. What do you think of them doing that. Nova is being accused of slow to no paying at Trust Pilot, so for me I wouldn't purchase a challenge with them anyway.
Nova the HFT firm? I could care less, i hope they burn to the ground.
  • #32,727
  • Mar 7, 2024 10:18am Mar 7, 2024 10:18am
However, I would venture to guess that most, if not all of them, have some kind of disclaimer on their website that states that they do not offer services to restricted regions (or the more popular verbiage, that their services are not intended for...).[/quote]

Offshore jurisdictions + existing direct license + "no US" = meta may possibly look the other way
  • #32,728
  • Mar 7, 2024 10:19am Mar 7, 2024 10:19am
Quoting CableJ
Looks like the CFTC corrected their original lies to the court about the MFF CAD tax transfers presented as transfers to the owner's personal accounts (the urgent need for the asset freeze & shutdown)... From CFTC vs TFF court docs... Although the CFTC believes that the record is clear as to the nature of this transfer, it offers this Corrected Edelstein Declaration as a further measure in that regard and to serve as an unambiguous document to be used in this litigation on a going forward basis. The CFTC makes this correction to ensure the documentary...
this is a response to something that had to be notified 21 days ago. Lets see what the next thing to come out is.
  • #32,729
  • Mar 7, 2024 10:31am Mar 7, 2024 10:31am
Quoting Capablanca
Today I was running an uninstaller in my PC. My desktop seemed a cemetery of MT/5 stuff
lol. I did that last week. I think like 10 firms/brokers got uninstalled.
  • #32,730
  • Mar 7, 2024 10:33am Mar 7, 2024 10:33am
Quoting Takisd
{quote} Nova the HFT firm? I could care less, i hope they burn to the ground.
And that seems to be the feeling over at Trust Pilot as no one is getting paid they are saying. If you don't mine what are your current views of E8Markets as I am trying their Match Trader software really more to see what it looks like more so than trying to purchase a challenge with them. Oddly enough their Trust Pilot reviews are @ 4.8 if that believable. Setting aside the fact, they are using Match Trader will them survive?
  • #32,731
  • Mar 7, 2024 10:52am Mar 7, 2024 10:52am
Was on a 5%ers discord call this morning. While we are currently being migrated to Match, the 5%ers is working on their own platofrm which will be desktop, web and mobile app. The goal is complete self-reliance with no third party involvement. They are also filing a no action request with the CFTC. In reading between the lines, they may, as conditions of no action, not offer CFDs, have FIFO and no hedging. The legal team is preseting the argument of CFDs being illegal when you deposit money with a broker, which is not the case here. Once again, that is me reading between the lines of what Saul was stating. Either way, they are on it and looking to provide services to the USA legally and with whatever conditions that may entail.

Quoting pipmaster77
Was on a 5%ers discord call this morning. While we are currently being migrated to Match, the 5%ers is working on their own platofrm which will be desktop, web and mobile app. The goal is complete self-reliance with no third party involvement. They are also filing a no action request with the CFTC. In reading between the lines, they may, as conditions of no action, not offer CFDs, have FIFO and no hedging. The legal team is preseting the argument of CFDs being illegal when you deposit money with a broker, which is not the case here. Once again,...
Obviously, a more impressive approach than running and switching brokers and platforms every 3 days like 99% of the others.
  • #32,732
  • Mar 7, 2024 11:02am Mar 7, 2024 11:02am
Quoting pipmaster77
Was on a 5%ers discord call this morning. While we are currently being migrated to Match, the 5%ers is working on their own platofrm which will be desktop, web and mobile app. The goal is complete self-reliance with no third party involvement. They are also filing a no action request with the CFTC. In reading between the lines, they may, as conditions of no action, not offer CFDs, have FIFO and no hedging. The legal team is preseting the argument of CFDs being illegal when you deposit money with a broker, which is not the case here. Once again,...
Meaning there will be no reason for US citizens to use prop firms anymore, since the whole reason for doing so was to avoid FIFO, no hedging, etc. and have access to good trading conditions that good brokers had before they were driven out of the USA. Nice “protection”.
  • #32,733
  • Mar 7, 2024 11:09am Mar 7, 2024 11:09am
Quoting AaronPriest
{quote} Meaning there will be no reason for US citizens to use prop firms anymore, since the whole reason for doing so was to avoid FIFO, no hedging, etc. and have access to good trading conditions that good brokers had before they were driven out of the USA. Nice “protection”.
I would still use them simply for the conditions.......I pay 0.2 on GBPAUD (my favorite pair) vs. 6.2 on the "regulated" Forex.com.
It may not come to that, they may be able to continue BAU. I just formed the opinion that they will comply, if neccessary, to serve the US market. As I stated, their conditions alone would be my reason to continue and I'll just trade the indices on the futures side.
  • #32,734
  • Mar 7, 2024 11:12am Mar 7, 2024 11:12am
Quoting pipmaster77
{quote} I would still use them simply for the conditions.......I pay 0.2 on GBPAUD (my favorite pair) vs. 6.2 on the "regulated" Forex.com. It may not come to that, they may be able to continue BAU. I just formed the opinion that they will comply, if neccessary, to serve the US market. As I stated, their conditions alone would be my reason to continue and I'll just trade the indices on the futures side.
Not if I can’t use MT5. Hehe
  • #32,735
  • Mar 7, 2024 11:13am Mar 7, 2024 11:13am
Quoting pipmaster77
Was on a 5%ers discord call this morning. While we are currently being migrated to Match, the 5%ers is working on their own platofrm which will be desktop, web and mobile app. The goal is complete self-reliance with no third party involvement. They are also filing a no action request with the CFTC. In reading between the lines, they may, as conditions of no action, not offer CFDs, have FIFO and no hedging. The legal team is preseting the argument of CFDs being illegal when you deposit money with a broker, which is not the case here. Once again,...
If that is their approach it won’t get approved for US. The platform thing is good though
  • #32,736
  • Mar 7, 2024 11:20am Mar 7, 2024 11:20am
Quoting AaronPriest
{quote} Not if I can’t use MT5. Hehe
Fortunately, I just need the platform to have a buy and sell button. All charting and research is done on MT4.
  • #32,737
  • Mar 7, 2024 11:54am Mar 7, 2024 11:54am
Quoting deroty
What do you think about FXBlue Trade copier? Works between or among MT4 and MT5 and it is free.
generally works great...
just keep an eye on it, often.
Especially around rollover and weekends when different platforms open and close at slightly different times.
  • #32,738
  • Mar 7, 2024 12:03pm Mar 7, 2024 12:03pm
Quoting pipmaster77
{quote} Fortunately, I just need the platform to have a buy and sell button. All charting and research is done on MT4.
Managing multiple props is going to be a major pain in the ass without mt4/5... I would have to go to trading 1 account @ a time to a small % target then switch to the next, that's on top of dealing with 2-3 different platforms.
  • #32,739
  • Mar 7, 2024 12:22pm Mar 7, 2024 12:22pm
Quoting CableJ
{quote} Managing multiple props is going to be a major pain in the ass without mt4/5... I would have to go to trading 1 account @ a time to a small % target then switch to the next, that's on top of dealing with 2-3 different platforms.
Well, personally, I am only going to use FTMO and the 5%ers and futures with apex and amp. MFF is dead, TFF is cTrader (no USA) only and TFT is, well, TFT.
I truly use the props due to the superior conditions over CFTC brokers......I mean the value of 20x your investment is great but I only use 1:1 maybe 2:1 leverage on the balance, which, of course, in reality is 10 or 20:1 on max loss. Unlike the offshores, where I would use the high leverage as most of my trading capital was kept in my own bank.
So, to me, I will use the props over the offshores as the substitute for the garbage in the USA for forex and trade futures with amp and apex.
  • #32,740
  • Mar 7, 2024 12:23pm Mar 7, 2024 12:23pm
Quoting doyathink
{quote} generally works great... just keep an eye on it, often. Especially around rollover and weekends when different platforms open and close at slightly different times.
Thank you Doyathink!...
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