Prop Firm Hub | Page 1669 | 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

  • #33,361
  • Mar 22, 2024 10:36am Mar 22, 2024 10:36am
Quoting RiskFighter
So I got 1,5 days with MT5 at FTUK. Sudently stopped. And I received this message: Due to an unforeseen issue with our recently partnered broker, we are unable to continue operations with them immediately. Without prior warning, our broker has cut access to all accounts due to a legal threat from MetaQuotes. As a result, we have swiftly integrated our new platform, MatchTrade, and will be migrating all our traders over to it this weekend. Additionally, we are in the final stages of integrating DXTrade, which will also be available soon. We sincerely...

Happened to several props:
We have important news to share. Our current broker has unexpectedly lost their MetaQuotes license and discontinued all MetaQuotes services without prior notice. We understand the inconvenience this may cause.
Fortunately, at FundedElite, we're always prepared. We're committed to ensuring a seamless trading experience for our customers. Therefore, we will be migrating all existing accounts to a new broker on MT5 this weekend.
  • #33,362
  • Mar 22, 2024 10:38am Mar 22, 2024 10:38am
Quoting AaronPriest
{quote} You can't change the payout account if you switch banks? That seems absurd.
I'm sure you may switch banks. If I'm understanding correctly, I think they are stating personal accounts must transfer money to personal bank accounts and business to business.
  • #33,363
  • Mar 22, 2024 10:57am Mar 22, 2024 10:57am
Quoting CableJ
hmmmmmmm e8 reintroducing mt5 after losing mt4 ..... I'm starting to wonder if CFTC pressure was a complete smoke screen and the real reason for the crackdown was that Meta was pissed that props were paying brokers via grey labeling while meta got nothing.
It was never anything to do with CFTC pressure (directly).

MT4/5 were removed from the Apple Store due to them being used to scam (as people always have), primarily due to being involved in so called 'pig butchering' scams.

MetaQuotes obviously got put back in the store, and I think it's clear they're worried about MFF being found to be a scam and how involved they are with it and them being removed again.

In terms of outside the US it's not really worth their business to onboard more props or lose quality control via grey labelling they were happy with for so long.

Quoting RiskFighter
So I got 1,5 days with MT5 at FTUK. Sudently stopped. And I received this message: Due to an unforeseen issue with our recently partnered broker, we are unable to continue operations with them immediately. Without prior warning, our broker has cut access to all accounts due to a legal threat from MetaQuotes. As a result, we have swiftly integrated our new platform, MatchTrade, and will be migrating all our traders over to it this weekend. Additionally, we are in the final stages of integrating DXTrade, which will also be available soon. We sincerely...
These moron props who have tried to cling on to MT4/5 through grey labelling as long as possible deserve no business.

The brokers are also moronic for not pre-empting it happening to them.
  • #33,364
  • Mar 22, 2024 11:01am Mar 22, 2024 11:01am
Quoting PropDude1234
{quote}It was never anything to do with CFTC pressure (directly). MT4/5 were removed from the Apple Store due to them being used to scam (as people always have), primarily due to being involved in so called 'pig butchering' scams. MetaQuotes obviously got put back in the store, and I think it's clear they're worried about MFF being found to be a scam and how involved they are with it and them being removed again. In terms of outside the US it's not really worth their business to onboard more props or lose quality control via grey labelling they...
Those brokers that still offering metatrader to props when metaquotes catch they should lose their metaquotes license
  • #33,365
  • Mar 22, 2024 11:36am Mar 22, 2024 11:36am
Quoting Novazor
{quote} Those brokers that still offering metatrader to props when metaquotes catch they should lose their metaquotes license
Agreed.
  • #33,366
  • Mar 22, 2024 11:48am Mar 22, 2024 11:48am
There is an issue with huge spreads overnight on Fundedengineer, as you can see on this attached screenshot for Nzdusd trade. Because of 40 pips spread it hit sl.
I also had this trade running on other broker FP markets, where no such issues happened. I have a feeling that FE is going to be the next MFF 2.0, so becareful everyone!
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 17 KB
How you exit from trades, is all that matters..
  • #33,367
  • Mar 22, 2024 11:52am Mar 22, 2024 11:52am
With the help of a good friend/s I have been researching the state of the prop market.

Most of the major keywords used to search and find prop firms are down over 50% world wide.

The bubble is burst. From here, we will see the rugs get pulled and more filth filter to the top. Hell, people are even saying FTMO's quality has turned to crap lately.

My days are spent fixing my body and enjoying the outside. Don't care much about the outcome for now.

I believe MT5 will remain for any props not accepting US (at all). Everyone else, its a ticking time bomb.
  • #33,368
  • Mar 22, 2024 11:53am Mar 22, 2024 11:53am
Quoting Bibin221
There is an issue with huge spreads overnight on Fundedengineer, as you can see on this attached screenshot for Nzdusd trade. Because of 40 pips spread it hit sl. I also had this trade running on other broker FP markets, where no such issues happened. I have a feeling that FE is going to be the next MFF 2.0, so becareful everyone! {image}
Its called rollover, you should talk to them before coming into a forum and showing your inexperience. NZD rollover is always violate and awful, its why almost all brokers and props filter it with a max spread cap.
  • #33,369
  • Mar 22, 2024 11:58am Mar 22, 2024 11:58am
Quoting Takisd
{quote} Its called rollover, you should talk to them before coming into a forum and showing your inexperience. NZD rollover is always violate and awful, its why almost all brokers and props filter it with a max spread cap.
Looks like triple swap Wednesday too.
  • #33,370
  • Mar 22, 2024 12:00pm Mar 22, 2024 12:00pm
I already know about rollover which is why i mentioned "overnight", speaking of inexperience, you should know 40-50 pips spread on usd major pair is pretty bad, and common only with bucket shop fx brokers.
Not going to argue anymore with someone trading for many yeas without any live trade explorer to prove their "experience" or "worth" blocked you.
How you exit from trades, is all that matters..
  • #33,371
  • Mar 22, 2024 12:05pm Mar 22, 2024 12:05pm
Quoting Bibin221
I already know about rollover which is why i mentioned "overnight", speaking of inexperience, you should know 40-50 pips spread on usd major pair is pretty bad, and common only with bucket shop fx brokers. Not going to argue anymore with someone trading for many yeas without any live trade explorer to prove their "experience" or "worth" blocked you.
I literally just told you that all brokers filter it. I have run multiple brokers and we filtered all of the rollover to avoid people like you bombing support channels. We just kept the trades open until the market returned to normal (ignored all stops/tp).

Also, check when I joined forexfactory numbnuts.
  • #33,372
  • Mar 22, 2024 1:20pm Mar 22, 2024 1:20pm
Quoting Bibin221
I already know about rollover which is why i mentioned "overnight", speaking of inexperience, you should know 40-50 pips spread on usd major pair is pretty bad, and common only with bucket shop fx brokers. Not going to argue anymore with someone trading for many yeas without any live trade explorer to prove their "experience" or "worth" blocked you.
Bro nzd is the worst pair to hold overnight because of wide spreads at rollover, and FPmarkets is a bucket shop
  • #33,373
  • Mar 22, 2024 1:51pm Mar 22, 2024 1:51pm
Quoting Bibin221
There is an issue with huge spreads overnight on Fundedengineer, as you can see on this attached screenshot for Nzdusd trade. Because of 40 pips spread it hit sl. I also had this trade running on other broker FP markets, where no such issues happened. I have a feeling that FE is going to be the next MFF 2.0, so becareful everyone! {image}
What a mess. Rollover yes, but just gets me thinking about a zillion platforms, half of them failing, payouts not guaranteed.

Complete meltdown of prop firm industry
A snails pace wins the race :-)
  • #33,374
  • Mar 22, 2024 2:24pm Mar 22, 2024 2:24pm
Quoting Bibin221
There is an issue with huge spreads overnight on Fundedengineer, as you can see on this attached screenshot for Nzdusd trade. Because of 40 pips spread it hit sl. I also had this trade running on other broker FP markets, where no such issues happened. I have a feeling that FE is going to be the next MFF 2.0, so becareful everyone! {image}
Still amaze me everyday that people still believe MFF was the worst prop firm ahah, when TFT comes down MFF will be a angel compared to them
  • #33,375
  • Edited 3:03pm Mar 22, 2024 2:36pm | Edited 3:03pm
Quoting Novazor
{quote} Still amaze me everyday that people still believe MFF was the worst prop firm ahah, when TFT comes down MFF will be a angel compared to them
It's only people that have never used ANY of the prop firms. Anyone with real user experience across multiple firms.....it is crystal clear MFF,FTMO and the 5%ers are heads and shoulders above the rest of this absolute garbage.
What a coincidence, the 3 that existed 2.5-3yrs ago when I warned EVERYONE what would happen once they started using the business in a box with 20 yr old CEOs at the helm. We will never know, but I can state with 99% confidence, we wouldn't be in any of this mess, MFF would still exist, FTMO would serve the US,etc, etc, etc, if we still had just the 4-5 original firms.
There wouldn't be any MT4/5 issues as there would be no Eightcap, Think, Blueberry and whoever else gray labeling, there would be no Easton Tech, FX whatever the fuck tech company.....none of it. It was never needed and now it completely destroyed what was once an extremely lucrative opportunity.
Oh well, back to the Quantower.......
  • #33,376
  • Mar 22, 2024 2:43pm Mar 22, 2024 2:43pm
Quoting Novazor
{quote} Still amaze me everyday that people still believe MFF was the worst prop firm ahah, when TFT comes down MFF will be a angel compared to them
I din't mean to say that MFF is the worst prop firm, what i meant was CFTC heard the complaints of people who had issues with MFF. And from there it all gone down, some had issues with slippage etc.
Same thing the likelihood of something similar happening with FE is also high, because of this slippage issues , spreads etc. Maybe regulators in dubai might get at them for this? So in this context i meant to say FE might be MFF 2.0.
I myself had my account at MFF, and i must admit trading conditions was decent there, much much better than here at FE.
How you exit from trades, is all that matters..
  • #33,377
  • Mar 22, 2024 2:52pm Mar 22, 2024 2:52pm
Quoting Bibin221
{quote} I din't mean to say that MFF is the worst prop firm, what i meant was CFTC heard the complaints of people who had issues with MFF. And from there it all gone down, some had issues with slippage etc. Same thing the likelihood of something similar happening with FE is also high, because of this slippage issues , spreads etc. Maybe regulators in dubai might get at them for this? So in this context i meant to say FE might be MFF 2.0. I myself had my account at MFF, and i must admit trading conditions was decent there, much much better than here...
For the people that know the forex and prop industry those plugins are needed to prevent cheaters ect, CFTC just targetted the most honest and biggest firm but is letting those others like TFT still running till this day
  • #33,378
  • Mar 22, 2024 3:01pm Mar 22, 2024 3:01pm
Quoting Bibin221
{quote} I din't mean to say that MFF is the worst prop firm, what i meant was CFTC heard the complaints of people who had issues with MFF. And from there it all gone down, some had issues with slippage etc. Same thing the likelihood of something similar happening with FE is also high, because of this slippage issues , spreads etc. Maybe regulators in dubai might get at them for this? So in this context i meant to say FE might be MFF 2.0. I myself had my account at MFF, and i must admit trading conditions was decent there, much much better than here...
No they didn't. Its been brought up 100 times that there were 0 complaints filed against MFF, not a single person had contacted the CFTC and said "HEY THESE GUYS HAVE SLIPPAGE". 0. Its on public record as such so you open with a sentence thats just a straight out lie.

I told you to contact them because they have been refunding some of the rollover stuff. Instead you are here just lying to everyone for no reason. When you contact them, try doing so without being a jerk, maybe you will get a positive outcome.

Stop trading NZD during roll even if its at FPMarkets. One of the reason a lot of NZD strategies exist today and are pimped out in various venues is because of the spread filters the brokers are putting around rollover. NZD has very few makers and the liquidity on a good day is amongst the worst in the market. If there are not many makers and those makers pull limits to settle what happens?
  • #33,379
  • Mar 22, 2024 9:51pm Mar 22, 2024 9:51pm
Quoting Takisd
{quote} No they didn't. Its been brought up 100 times that there were 0 complaints filed against MFF, not a single person had contacted the CFTC and said "HEY THESE GUYS HAVE SLIPPAGE". 0. Its on public record as such so you open with a sentence thats just a straight out lie. I told you to contact them because they have been refunding some of the rollover stuff. Instead you are here just lying to everyone for no reason. When you contact them, try doing so without being a jerk, maybe you will get a positive outcome. Stop trading NZD during roll even...
Good post!
  • #33,380
  • Mar 23, 2024 12:26am Mar 23, 2024 12:26am
Just passed MFFu static account yesterday. Still in review for the "live" account. Seems like last Tuesday was the last day it was for sale.

After thinking a bit, I'll probably get a few more Apex and try their copy trading.
1500 target for the 25k account isn't too bad with 1.5k drawdown. It's similar to the 2x target for phase 1 on some firms like FTMO. With no daily drawdown, think it will be easy to remain profitable if I can build a big enough buffer.
50 traders viewing now