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  • #42,541
  • Sep 26, 2024 7:26pm Sep 26, 2024 7:26pm
Quoting Cryptosurf
IMO, the graveyard of sketchy payment denials is going to trigger it. Someone who got burned is going to catch the attention of regulators.
-Likely so. I am kind of torn on this, though. Because there are two types of traders that will likely make a fuss about things...

1. The cheater that deserves to be denied.
2. The honest trader that has accumulated a lot of profit (and should realistically move on), but refuses to move on and is forcefully shut out.

Ideally, honest traders should be paid what they are owed before getting kicked out, but, if a trader has accumulated 100k or more from one of these firms, then it is difficult for me to understand how some traders can throw a fit and scream scam at that point. We all know the game and how most of these props work; no need to ruin the opportunity for everyone else by pretending that it's something else.

Just my opinion.
  • #42,542
  • Edited 9:49pm Sep 26, 2024 7:26pm | Edited 9:49pm
Quoting Takisd
I hold the opinion that if they shut down CFD's for this industry, Futures are likely to have more crimes due to the centralized nature of the product and its regulations. Its just a matter of resources and time.
-I'm not sure. As I understand it, the offerings are different in many ways, including how they are regulated. That being said, regulators will likely slam these firms for operating without the proper registration/licenses etc., regardless of the fact that there is no actual trading going on. So, less likely an issue with the 'what' and more about the 'how'. I could be wrong.
  • #42,543
  • Sep 26, 2024 7:26pm Sep 26, 2024 7:26pm
Quoting pipmaster77
OK. Hurricane prep time. Bands swinging in.
-Stay safe down there.
  • #42,544
  • Sep 27, 2024 1:01am Sep 27, 2024 1:01am
As expected Funded Lions, from Noman artist, went down. The excuse is that their broker (dominion), held by another artist (Rajabank), ceased to provide services to Lions. This was a prop that had a tag of rug pull since the beginning. Can't feel sorry for those losing money there.
https://x.com/Limitless_Noman/status...44430094160099

The suckers can now move from one to another because Rajabank, himself, is launching soon his own prop Dominion Fund. For those not knowing the artist, it's just enough to search for Dominion broker and find about the amount of people claiming about withdraw problems in that broker.
https://x.com/RajaBanks/status/1839002907078963368

And talking about artists, it's impressive that now I can't have a single day in my X feed without getting one or more Alpha claims, either of a KYC "failure" or a payout denial for gambling reasons, without explanation.
  • #42,545
  • Sep 27, 2024 1:56am Sep 27, 2024 1:56am
Quoting maltrader
{quote} Regular. Not sure what cca means but the payout requested was around 4k.
thanks maltrader
  • #42,546
  • Sep 27, 2024 2:07am Sep 27, 2024 2:07am
Quoting Nsak3y
{quote}-I'm not sure. As I understand it, the offerings are different in many ways, including how they are regulated. That being said, regulators will likely slam these firms for operating without the proper registration/licenses etc., regardless of the fact that there is no actual trading going on. So, less likely an issue with the 'what' and more about the 'how'. I could be wrong.
the recent ban on spreading on futures is sufficient for me to know the regulators will take action. Treasury spreads are what people have been doing for years in real prop firms for these "virtual" props to ban it means that action will be taken.
  • #42,547
  • Sep 27, 2024 2:23am Sep 27, 2024 2:23am
Quoting Capablanca
FTT model is unsustainable, we already discussed it here. The futures arena will be just like forex one. This guys seem very shady, to say the least, and still they had the Rythmic. I would not count on Rythmic or Tradovate to police this futures industry.
FTT = Fast track trading ?
Intraday only.
  • #42,548
  • Sep 27, 2024 2:31am Sep 27, 2024 2:31am
Quoting Takisd
{quote} the recent ban on spreading on futures is sufficient for me to know the regulators will take action. Treasury spreads are what people have been doing for years in real prop firms for these "virtual" props to ban it means that action will be taken.
You mean calendar spreads ? I didn't realize that they forbid it (I only do that in options, not in futures).

Why are they forbidding it ?
  • #42,549
  • Sep 27, 2024 2:33am Sep 27, 2024 2:33am
Quoting navk
{quote} FTT = Fast track trading ?
Yes. I don't think their instant model can be viable.
  • #42,550
  • Sep 27, 2024 3:01am Sep 27, 2024 3:01am
Quoting Capablanca
{quote} You mean calendar spreads ? I didn't realize that they forbid it (I only do that in options, not in futures). Why are they forbidding it ?
Because virtual fills are better than real and you can guarantee passing using treasury spreads. Another lesson for the retail trader, fills on the futures firms are far better than on real money just because you can pass a futures firm, doesn't mean you can trade live funds.
  • #42,551
  • Edited 3:16am Sep 27, 2024 3:04am | Edited 3:16am
Unlike forex props which were allowing illegal access to CFD's by US citizens, the futures props that send traders live via real CFTC regulated brokers should be safe. At the end of the day the CME/CBOT/COMEX/NYMEX and their enforcement arm @ the CFTC will get their money (exchange data fees, commissions & spread markups)... when in doubt it's always about the money.
  • #42,552
  • Sep 27, 2024 3:59am Sep 27, 2024 3:59am
Quoting Takisd
{quote} Because virtual fills are better than real and you can guarantee passing using treasury spreads. Another lesson for the retail trader, fills on the futures firms are far better than on real money just because you can pass a futures firm, doesn't mean you can trade live funds.
let us start prop options
  • #42,553
  • Sep 27, 2024 4:04am Sep 27, 2024 4:04am
Quoting CableJ
Unlike forex props which were allowing illegal access to CFD's by US citizens, the futures props that send traders live via real CFTC regulated brokers should be safe. At the end of the day the CME/CBOT/COMEX/NYMEX and their enforcement arm @ the CFTC will get their money (exchange data fees, commissions & spread markups)... when in doubt it's always about the money.
The only problem is that most of traders never get to real. They're just playing the videogame and CME et al are not getting the cut from the videogame.
  • #42,554
  • Sep 27, 2024 4:17am Sep 27, 2024 4:17am
I noticed that the overall Trustpilot average ranking is going down on a lot of prop firms right now. Like Funding Pips, FXIFY and Alpha Capital and others are going down in the ranking. So there must be something going on (!), I assume. It is not normal that they loose so quickly now on their rating with so many new negative reviews.
  • #42,555
  • Edited 5:17am Sep 27, 2024 4:22am | Edited 5:17am
Quoting Capablanca
{quote} Yes. I don't think their instant model can be viable.
Tradeify has a very similar model, the 20% consistency requirement keeps out the YOLO trader and caps on payouts , minimum 10 days traded,etc…

Attached Image (click to enlarge)
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rules for payout

https://help.tradeify.co/article/46-...-payout-policy
  • #42,556
  • Sep 27, 2024 4:27am Sep 27, 2024 4:27am
Quoting TrAndy1
I noticed that the overall Trustpilot average ranking is going down on a lot of prop firms right now. Like Funding Pips, FXIFY and Alpha Capital and others are going down in the ranking. So there must be something going on (!), I assume. It is not normal that they loose so quickly now on their rating with so many new negative reviews.
A good thing is probably to look at 1 stars reviews in the last 30 days.
And also, in the last year, if 1 star is not over 5, 6, 7%, maximum.

You will find the usual ones (5ers, FTMO, E8, City Traders Imperium, Audacity, Lark* and maybe some others I don't remember).

Lark is a good prop IMO but trailing max dd in funded just eliminates it from my list, never tested it.
  • #42,557
  • Sep 27, 2024 4:31am Sep 27, 2024 4:31am
Quoting Stoneyrocks
{quote} Tradeify has a very similar model, the 20% consistency requirement keeps out the YOLO trader {image}
This instant model is too easy to game. I should give a stab on it.

If Top Step offers this (they don't, right ?), then I will believe that this is sustainable (because TST has enough data to analyze it)
  • #42,558
  • Sep 27, 2024 5:42am Sep 27, 2024 5:42am
Quoting TrAndy1
I noticed that the overall Trustpilot average ranking is going down on a lot of prop firms right now. Like Funding Pips, FXIFY and Alpha Capital and others are going down in the ranking. So there must be something going on (!), I assume. It is not normal that they loose so quickly now on their rating with so many new negative reviews.
Hi TrAndy,
What are your views, or experiences if any on TopStepX? Thank you for your response.
  • #42,559
  • Sep 27, 2024 6:02am Sep 27, 2024 6:02am
Quoting acetrader
{quote} Hi TrAndy, What are your views, or experiences if any on TopStepX? Thank you for your response.
They are the most solid Futures prop firm right now. But for me I would not like to invest in such a trailing Drawdown model comparing that offer to a personal account.
  • #42,560
  • Sep 27, 2024 8:08am Sep 27, 2024 8:08am
Quoting acetrader
{quote} Hi TrAndy, What are your views, or experiences if any on TopStepX? Thank you for your response.
I use TopstepX, great platform. Very easy to copy trade. Good Performance Stats which are updated as soon as you close the trade.
Drawdown is more important than Account Size !
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