Prop Firm Hub | Page 1642 | 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

  • #32,821
  • Mar 8, 2024 3:32pm Mar 8, 2024 3:32pm
Quoting Capablanca
{quote} I had a funded there. Pretty normal spreads, commissions and execution. Payout (and refund) had somes bumps to setup but nothing unusual. I didn't like them because to receive the funded credentials we are obliged to fill in a form and produce a short video of our impressions during challenge phase, which can be used in social media (and there is no way to opt out from that in the form, only contacting afterwards customer service). We also have to tell them which other props we use which is none of their business. However, they are in the...
Thanks for taking the time and appreciate the feedback Capablanca. As long as spreads, commissions and execution are “normal”, I’m happy. I gave up the scalping game and broadened my time horizon to swing on the props to avoid the games they can play.
As for the video, that’s ridiculous.
Enjoy your weekend
  • #32,822
  • Mar 8, 2024 4:47pm Mar 8, 2024 4:47pm
Quoting Takisd
{quote} its a civil case, as lord Karl pointed out. No jail time is on the table. Its just monetary. The one thing that people may have skipped over (or not been exposed to) is that the jurisdiction argument is now back on the table.
And that fine or those fines will never be paid by the individual or individuals that actually made the false claims. It will be paid by the regulator agency. Again, n individual accountability. The romper room activities will continue on.
  • #32,823
  • Mar 8, 2024 8:51pm Mar 8, 2024 8:51pm
Quoting KarlKraus
{quote} Only the ones they regulate. They have no jurisdiction to fine businesses like MFF that they don’t regulate! What is wrong with you? Honestly the level of understanding of what’s happening here is about ZERO.
say the man who dont know about differences of futures and cfd and when to use what.

educate yourself better before you start a war you cant win at your education level.

why you need always attack people, so noone will have a discussion with you.

any time you are wrong and wrote wrong facts you run like a chicken and hide, any time someone else write a little wrong fact you play like a king, because you have litte education in this case. how someone will ever believe you and what you write, when you repeat mistakes and never correct your wrong facts? i know you come only from funds (when you did not lie about your history) and not self trading, so you dont know a lot of facts of real trading part, but you can educate about this... nothing stop you from learn from your mistakes.
  • #32,824
  • Mar 9, 2024 6:10am Mar 9, 2024 6:10am
Quoting Nsak3y
{quote}-Um. What?

This is how regulatory systems work (in the US, just as in other countries): regulators can only impose fines on businesses they regulate.

The CFTC does not regulate MFF and never did.

They do not, therefore, have the jurisdiction to fine them, as you and others here keep wrongly saying and "discussing".

Only a COURT can fine them (and/or exercise any other sanctions or penalties against them).

CFD funding companies don’t at the moment need, by law, to be regulated at all, and that ridiculous anomaly underlies the whole problem, here.

Honestly the level of understanding of what’s happening here is about ZERO. In some ways it’s actually worse, because so many people wrongly imagine they understand what’s happening and why! Just bizarre.
  • #32,825
  • Mar 9, 2024 7:09am Mar 9, 2024 7:09am
Karl is screaming again…

Attached Image (click to enlarge)
Click to Enlarge Name: IMG_1176.jpeg Size: 704 KB
Trade with confidence, trade without fear.
  • #32,826
  • Mar 9, 2024 7:35am Mar 9, 2024 7:35am
Quoting KarlKraus
{quote} This is how regulatory systems work (in the US, just as in other countries): regulators can only impose fines on businesses they regulate. The CFTC does not regulate MFF and never did. They do not, therefore, have the jurisdiction to fine them, as you and others here keep wrongly saying and "discussing". Only a COURT can fine them (and/or exercise any other sanctions or penalties against them). CFD funding companies don’t at the moment need, by law, to be regulated at all, and that ridiculous anomaly underlies the whole problem, here. Honestly...
Can't fine them, but somehow have the jurisdiction to freeze their assets and shut them down.
  • #32,827
  • Mar 9, 2024 7:38am Mar 9, 2024 7:38am
Quoting KarlKraus
CFD funding companies don’t at the moment need, by law, to be regulated at all, and that ridiculous anomaly underlies the whole problem, here.
It sometimes seems to me that about half the people here don’t actually think that’s an anomoly at all, lol.

Scary and weird, I know, but some of them actually think (or at least pretend to) that it’s a good thing that businesses of this kind are not legally required to be regulated.

Quoting KarlKraus
regulators can only impose fines on businesses they regulate. The CFTC does not regulate MFF and never did. They do not, therefore, have the jurisdiction to fine them, as you and others here keep wrongly saying and "discussing". Only a COURT can fine them (and/or exercise any other sanctions or penalties against them).
This one they do already know, I think (I mean, surely?!). They just sometimes choose to ignore it because it obviously doesn’t fit in with their prejudices.

Quoting KarlKraus
Just bizarre.
You got that part right!
  • #32,828
  • Mar 9, 2024 7:53am Mar 9, 2024 7:53am
Quoting Quickly
{quote} It sometimes seems to me that about half the people here don’t actually think that’s an anomoly at all, lol. Scary and weird, I know, but some of them actually think (or at least pretend to) that it’s a good thing that businesses of this kind are not legally required to be regulated. {quote} This one they do already know, I think (I mean, surely?!). They just sometimes choose to ignore it because it obviously doesn’t fit in with their prejudices. {quote} You got that part right!
It's not they don't need to be regulated....Europe, the UK, Australia all do a great job. I would trade with any of their regulated entities immediately.....oh, but I can't, I'm from the USA, and in the name of protecting me, I cannot use THOSE regulated brokers, although far superior than USA regulation. Make sense yet?
Noone can tell me and actually believe with 100% conviction anything other than the SOLE purpose of the CFTC is to "protect" the US futures market.
It is so crystal clear with every move they make and every action they take.
They are not regulating, nor are they "protecting" anyone trading in the financial markets.
  • #32,829
  • Mar 9, 2024 7:59am Mar 9, 2024 7:59am
Quoting pipmaster77
{quote} It's not they don't need to be regulated....Europe, the UK, Australia all do a great job. I would trade with any of their regulated entities immediately.....oh, but I can't, I'm from the USA, and in the name of protecting me, I cannot use THOSE regulated brokers, although far superior than USA regulation. Make sense yet? Noone can tell me and actually believe with 100% conviction anything other than the SOLE purpose of the CFTC is to "protect" the US futures market. It is so crystal clear with every move they make and every action they take....
You see, where you clueless ones are missing the point because you are so busy calling everyone else clueless........this is not about whether there is a need for regulation.....this is about wrongful "regulation" being carried out by bad actors at a US regulatory agency (imagine that) all for self-serving benefit
  • #32,830
  • Mar 9, 2024 8:10am Mar 9, 2024 8:10am
Quoting pipmaster77
{quote} Can't fine them, but somehow have the jurisdiction to freeze their assets and shut them down.
Which is even worse than fine.
  • #32,831
  • Mar 9, 2024 8:16am Mar 9, 2024 8:16am
Quoting pipmaster77
It's not they don't need to be regulated....

You say that (and I agree with you) but some people here actually believe that they shouldn’t be regulated at all, and they say so openly.

And they’re ridiculously misguided in that belief.


Quoting pipmaster77
Europe, the UK, Australia all do a great job

The UK and Australia, yes.

Most countries in Europe, yes (there are exceptions, for example Bulgaria and Cyprus).

Nobody (that I can see) is arguing with you about how bad the CFTC is.

You need and deserve much better regulation than you have: you and I have never disagreed about that.


Quoting pipmaster77
{quote} Can't fine them, but somehow have the jurisdiction to freeze their assets and shut them down.

No.

Again that’s just wrong. Only a COURT can do that. Which is what happened.
  • #32,832
  • Mar 9, 2024 8:26am Mar 9, 2024 8:26am
Quoting KarlKraus
{quote} You say that (and I agree with you) but some people here actually believe that they shouldn’t be regulated at all, and they say so openly. And they’re ridiculously misguided in that belief. {quote} The UK and Australia, yes. Most countries in Europe, yes (there are exceptions, for example Bulgaria and Cyprus). Nobody (that I can see) is arguing with you about how bad the CFTC is. You need and deserve much better regulation than you have: you and I have never disagreed about that. {quote} No. Again that’s just wrong. Only a COURT can do that....
I was actually going to state that regarding the court as I knew you'd state that (you alwys do). A court doesn't just blindly freeze assets and shut down a company....so I'll rephrase just to satisfy you....where did the court order come from?
  • #32,833
  • Mar 9, 2024 8:28am Mar 9, 2024 8:28am
Quoting KarlKraus
Most countries in Europe, yes (there are exceptions, for example Bulgaria and Cyprus).
Exactly right. They’re almost as bad as the CFTC, they don’t really protect the customers at all. Especially Bulgaria. Malta is also not well regulated.

Quoting pipmaster77
where did the court order come from?
Don't look now, but your civil and administrative legal system's nothing to be proud of, either.
  • #32,834
  • Mar 9, 2024 8:54am Mar 9, 2024 8:54am
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 9 KB
  • #32,835
  • Mar 9, 2024 9:20am Mar 9, 2024 9:20am
Quoting KarlKraus
This is how regulatory systems work (in the US, just as in other countries): regulators can only impose fines on businesses they regulate. The CFTC does not regulate MFF and never did. They do not, therefore, have the jurisdiction to fine them, as you and others here keep wrongly saying and "discussing".
-You are wrong. Just stop.

The CFTC can impose fines, even against a Canadian business (which MFF was), for violations of the Commodity Exchange Act and related regulations, even if the business is not located within the United States. The CFTC has the authority to enforce regulations against foreign entities that engage in activities that have a substantial connection to the US, such as offering commodity trading services to US citizens (which MFF did).

Typically, there is an investigation into alleged violations, followed by enforcement actions that may include imposing fines or penalties on the business. The CFTC can impose fines directly, but depending on the circumstances (and/or if the alleged violations are contested), then the matter may ultimately be resolved in court, where the court would review the evidence and arguments presented by both parties and make a determination on whether the alleged violations occurred and what penalties, if any, are appropriate.

I am really so tired of you and your buddy Quickly always making negative, condescending statements and putting others down. You guys are trolls that have no business in this thread.
  • #32,836
  • Edited 12:29pm Mar 9, 2024 10:33am | Edited 12:29pm
Quoting KarlKraus
{quote} You say that (and I agree with you) but some people here actually believe that they shouldn’t be regulated at all, and they say so openly. And they’re ridiculously misguided in that belief. {quote} The UK and Australia, yes. Most countries in Europe, yes (there are exceptions, for example Bulgaria and Cyprus). Nobody (that I can see) is arguing with you about how bad the CFTC is. You need and deserve much better regulation than you have: you and I have never disagreed about that. {quote} No. Again that’s just wrong. Only a COURT can do that....
How did the CFTC protect me from a US regulated broker going bust with >30K of my hard earned money, which was required to cover 10-25:1 overnight futures margins? I was also caught up in the MFGlobal & PFGBest disasters. Along with Refco, those were 3 of the largest futures brokers @ the time all regulated by the CFTC and all 3 went bust from crooked behavior.

Since I started trading with multiple unregulated offshore brokers from 2009-2024, NONE have gone bust or rug pull exit scammed. I only had to deposit 10-15% of total trading capital to cover 300-1000:1 margins with the other 85-90% in my bank account. With unregulated CFD props... I actually made >$1000 @ MFF after refunds & bonuses with zero risk to acquire my 1st >36K in losable drawdown (300K in funding).

Do you think it's ok in the United States for a US regulator to blatantly lie multiple times to a court to get an asset freeze & company shut down without that business being able to defend themselves with legal representation against the CFTC's accusations? There are >100 funding companies globally & >20 in the united states with basically the exact same business model & all of them had the same deceptive marketing as MFF and yet all of them are still in operation today.
  • #32,837
  • Mar 9, 2024 10:40am Mar 9, 2024 10:40am
Quoting Nsak3y
{quote}-You are wrong. Just stop. The CFTC can impose fines, even against a Canadian business (which MFF was), for violations of the Commodity Exchange Act and related regulations, even if the business is not located within the United States. The CFTC has the authority to enforce regulations against foreign entities that engage in activities that have a substantial connection to the US, such as offering commodity trading services to US citizens (which MFF did). Typically, there is an investigation into alleged violations, followed by enforcement...
I saw nothing wrong in Karl's quoted post. His problem is he screams.
  • #32,838
  • Mar 9, 2024 10:53am Mar 9, 2024 10:53am
Quoting solarpower
I saw nothing wrong in Karl's quoted post.
-It is not factual. He speaks with partial understanding, and then uses semantics to belittle and condescend others. His posts are almost always negative and provocative in nature. He is a troll and a spammer.
  • #32,839
  • Mar 9, 2024 10:56am Mar 9, 2024 10:56am
Watch out, he might start grading term papers AND TYPING IN RED
  • #32,840
  • Mar 9, 2024 11:00am Mar 9, 2024 11:00am
Quoting Nsak3y
{quote}-It is not factual. He speaks with partial understanding, and then uses semantics to belittle and condescend others. His posts are almost always negative and provocative in nature. He is a troll and a spammer.
What is the exactl line he is wrong, can you share that, just for interest?
He said CFTC cannot fine unless they have (proven) jurisdiction. He is right. In MFF case, jurisdiction argument seems to unclear, not finished yet. Don't you agree?
55 traders viewing now