Prop Firm Hub | Page 2179 | 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

  • #43,561
  • Oct 23, 2024 8:55am Oct 23, 2024 8:55am
Quoting pipmaster77
{quote} I'm sure the US CFTC regulated brokers will find another avenue to rip off their customers. However, if there are some transparent offerings from some reputable providers......for sure, this is a good thing.
A new US Forex broker called TastyFX https://www.financemagnates.com/fore...forex-traders/
  • #43,562
  • Oct 23, 2024 8:57am Oct 23, 2024 8:57am
Quoting Takisd
CME isn't a regulator.
Lol.

Your "information" is as accurate and reliable as ever, i.e. it’s complete BS.

Why do you think they have a "Market Regulation Department", then, if they’re not a regulator?!

Maybe one day you’ll post something here and actually know WTF you’re talking about.

MAYBE …
  • #43,563
  • Oct 23, 2024 9:32am Oct 23, 2024 9:32am
Quoting TrAndy1
{quote} A new US Forex broker called TastyFX https://www.financemagnates.com/fore...forex-traders/
the old IG.....no thanks
  • #43,564
  • Oct 23, 2024 9:37am Oct 23, 2024 9:37am
Quoting Quickly
{quote} Lol. Your "information" is as accurate and reliable as ever, i.e. it’s complete BS. Why do you think they have a "Market Regulation Department", then, if they’re not a regulator?! Maybe one day you’ll post something here and actually know WTF you’re talking about. MAYBE …
you spend a lot of time writing your posts, but you always fail with context. Your entire post history is attempted "gotchas". You fail far more often than I do.

The CFTC will enforce the regulatory environment of prop firms, not the CME. The CME's function is not to regulate retail participants business behavior but the exchange itself in which they own. They can control who has access to the CME and its members such as some of the trading platforms and brokers. They cannot, however, regulate the rule of law around prop firms.

"
The Chicago Mercantile Exchange (CME), was founded in 1898 as a nonprofit corporation. In 1919, it established its clearing house. In 2000, CME demutualized (became a joint stock company). In 2002, CME Group, the parent company of CME, became a public company via an initial public offering."

The day that a public company rather than a government body regulates individual business is the day the US constitution is dead. Now don't you have a goat to blow?
  • #43,565
  • Oct 23, 2024 10:09am Oct 23, 2024 10:09am
Quoting Takisd
They cannot, however, regulate the rule of law around prop firms.
-I suspect that they won't have to. Any internal policies that are established, although maybe not law, can be used to restrict access to non-compliant parties, essentially forcing props to fall in line. Regulation or not, this won't work if exchanges and props cannot reach amicable agreement.
  • #43,566
  • Oct 23, 2024 10:28am Oct 23, 2024 10:28am
Quoting Nsak3y
{quote}-I suspect that they won't have to. Any internal policies that are established, although maybe not law, can be used to restrict access to non-compliant parties, essentially forcing props to fall in line. Regulation or not, this won't work if exchanges and props cannot reach amicable agreement.
The CME can decide for sure who is gonna to pay for their feed. If props pay that small CME can rule that they need to pay much more data fees to CME. For sure.
What the CME does not like, that a lot of people do not pay for realtime feed on their personal broker now, but using the feed from prop firms to trade and spent a lot of money there. They can easily decide that all live accounts at props needs to have professional data fees to be paid. So they get a share of this market too. Otherwise...
  • #43,567
  • Oct 23, 2024 10:52am Oct 23, 2024 10:52am
Quoting Nsak3y
{quote}-I suspect that they won't have to. Any internal policies that are established, although maybe not law, can be used to restrict access to non-compliant parties, essentially forcing props to fall in line. Regulation or not, this won't work if exchanges and props cannot reach amicable agreement.
Yes they can pressure members from offering services to non compliant people. They can set standards for memberships/working together much like a bank. But when i comes down to it, the CFTC will be the one who regulates.

There are ways to get a CME sim feed indirectly from POP's if you relabel the symbols and do other dodgy things then you could get away with it but it would be easier to just do CFD's if that is the case.
  • #43,568
  • Oct 23, 2024 11:16am Oct 23, 2024 11:16am
The problem is that CFDs are not allowed in the USA. I would be surprised if CME would tolerate a CFD kind of feed of their own, which is 100% the same realtime.
  • #43,569
  • Oct 23, 2024 11:23am Oct 23, 2024 11:23am
Quoting TrAndy1
The problem is that CFDs are not allowed in the USA. I would be surprised if CME would tolerate a CFD kind of feed of their own, which is 100% the same realtime.
There are many futures CFD products already.
  • #43,570
  • Oct 23, 2024 11:26am Oct 23, 2024 11:26am
Quoting Takisd
{quote} There are many futures CFD products already.
Not from futures props. This is one of their USP. Many of them have residence in USA. I do not think that will be the way to go. CME will charge whatever fees they want.
  • #43,571
  • Oct 23, 2024 11:27am Oct 23, 2024 11:27am
Quoting pipmaster77
{quote} This breaking news that CME will regulate futures props comes from the clown at FTT? Now that's funny......he is such a reliable, trusted source. If the CME delivers on their promises as quickly as he does, we can expect regs in maybe 2034???
TRANdy's just trying to be relevant. Scours the web looking for any random nobody and then posts their nonsense without any research or context. Just whoring for that coveted red diamond. Pathetic and annoying
Pride always comes before destruction.... -Proverbs 16:18
  • #43,572
  • Edited 11:53am Oct 23, 2024 11:41am | Edited 11:53am
I am still interested to the prop arena. And I have stake in their too. So I watch out everyday. And what something interesting pops up I do not hesitate to post that here. Why should I not ? But if I do not get payouts anymore from my last prop which is interesting from a math view, I am almost done. Then I will watch passively.

But it seems some members only have fun here when they can post something negative about others. They like to shit on over 95% of all their posts, like Expo33!!!

Also his name is out of stupidity created. There is no market where you can do 10^33, even 2^33 is 10 billion, and you cannot trade from 1 penny on. So why say to himself then Exponent higher 33 ?? So his name shows he has no knowledge about the market as you cannot scale that much in no market especially when you trade.

My name is chosen wisely. Since I am trend follower, I follow the major one trend. Trendy moves are my money. Trendy=TrAndy and one major trend I am looking for to enter as overlay makes TrAndy1, for one trend to follow. I am not looking for 10 different trends across many timeframes. That is why. So my name is my strategy.
  • #43,573
  • Oct 23, 2024 11:56am Oct 23, 2024 11:56am
Quoting TrAndy1
{quote} Not from futures props. This is one of their USP. Many of them have residence in USA. I do not think that will be the way to go. CME will charge whatever fees they want.
I don't know who are the feed providers for every futures prop. But given the types who are flooding in now to open them, I wouldn't be surprised if some of the less known ones are using CFD products labelled as futures in order to maintain a low overhead.
  • #43,574
  • Oct 23, 2024 11:57am Oct 23, 2024 11:57am
Some updates..... Average day

1. Lost 50kx7 (EVALS) tradeify evals (tried YOLO homerun went up to 2800$ proft before losing it all. So no more evals for now NEXT PAYOUT WILL FUND EVALS)
2. MFFU (FUNDED)- 50kx3 - 1050$ total (3 days in 2 more to go)
3. Topstep (FUNDED) - 50kx5 - 3500$ total (2 days in aiming for 3000-3200$ target to pull 1500$x5)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 38 KB
Click to Enlarge Name: screenshot.png Size: 88 KB
Click to Enlarge Name: screenshot.png Size: 114 KB
Extreme gut feeling trader
  • #43,575
  • Oct 23, 2024 12:09pm Oct 23, 2024 12:09pm
Quoting Expo33
TRANdy's just trying to be relevant. Scours the web looking for any random nobody and then posts their nonsense without any research or context.

Exactly.

It’s just ridiculous.

The problem isn’t the fact that so many people know nothing and understand even less (helping such people is one of the potentially beneficial functions of forums, after all): it’s the fact that they want to try to sound like “experts” even though they actually understand less than the people they’re trying to “help”.
  • #43,576
  • Edited 1:23pm Oct 23, 2024 12:28pm | Edited 1:23pm
Quoting montygoldy
Some updates..... Average day 1. Lost 50kx7 (EVALS) tradeify evals (tried YOLO homerun went up to 2800$ proft before losing it all. So no more evals for now NEXT PAYOUT WILL FUND EVALS) 2. MFFU (FUNDED)- 50kx3 - 1050$ total (3 days in 2 more to go) 3. Topstep (FUNDED) - 50kx5 - 3500$ total (2 days in aiming for 3000-3200$ target to pull 1500$x5) {image} {image} {image}
How does it come you have big loss at one prop firm and big gains on the others ? Are you reverse trading each other or do you hedge trades on them in some way ?
On FTT discord the CEO was complaining that some traders reverse hedged between Apex and FTT. That is why I am asking, since futures prop do not act together ??
  • #43,577
  • Oct 23, 2024 1:16pm Oct 23, 2024 1:16pm
Quoting Takisd
{quote} I don't know who are the feed providers for every futures prop. But given the types who are flooding in now to open them, I wouldn't be surprised if some of the less known ones are using CFD products labelled as futures in order to maintain a low overhead.
It would have to be the ones without the known platforms like Rythmic, tradovate, right ?
  • #43,578
  • Oct 23, 2024 1:31pm Oct 23, 2024 1:31pm
Quoting Takisd
I wouldn't be surprised if some of the less known ones are using CFD products labelled as futures in order to maintain a low overhead.
FFS - either your trades show up in the CME’s DOM or they don’t.

It’s not falsifiable. It’s objective and verifiable (in seconds) and FACTUAL.

As Karl and I have explained here about 30 times.

But nobody here wants factual information.

Everyone wants their own BS opinions, prejudices and garbage.
  • #43,579
  • Oct 23, 2024 1:39pm Oct 23, 2024 1:39pm
Quoting Capablanca
{quote} It would have to be the ones without the known platforms like Rythmic, tradovate, right ?
I do no think so at all. They will rule whenever they can. And Futures datafeed as CFD fees relabelled the CME won't accept. They are for profit now and so they want their share from the datafeed and exchange commission for live accounts. So the number will be higher than 10% I think. And easily they can ask for professional datafees aswell because it is a prop firm. And usually you are considered professional when you trade a prop firm, that was the case in old days (with real prop firms).

You can have cash derived CFDs on Indices you like have it now on FTMO for example. Outside the USA the CME cannot do anything on that I think. But CFD feed in the USA, that is even not allowed for their own US Forex brokers. They write in their own terms that those brokers have real cash spot FX data, what you trade there. You cannot trade CFDs from the USA. This exception with prop firms can be only a temporary thing (what a surprise). And why it is so surprising there will be regulation incoming in Q1 2025 ? Did some folks not said it will come second half of 2024 already some months earlier ? And then also the ESMA and other jurisdictions will come later in 2025 for sure, once the CME has expressed their rules. And last but not least who cares if the CME or CFTC or the next president will say what rules there will be on prop firms ? Only what matters is, if there will be regulation and then when and what kind. Who is gonna regulating or ruling in the USA is least important for prop firms. Every body is strict in the USA. You can only differ between US ruling and EU ruling. Uk might be much less strict, and now outside of the European Union so no ESMA can rule them, and the arabian UAE I do not know when and how they will introduce rules for regulations. But we all knew here for months that something will come for sure. And now some members here are so surprised that I posted today US regulation will come likely in Q1 2025, they do not believe it all now. It cannot be CME or whatever. Come on. Be realistic. Regulation for prop firms is not surprising at all, since the CFTC court case against MFF. They act all hands in hands in the USA.
  • #43,580
  • Oct 23, 2024 1:40pm Oct 23, 2024 1:40pm
Quoting Quickly
{quote} FFS - either your trades show up in the CME’s DOM or they don’t. It’s not falsifiable. It’s objective and verifiable (in seconds) and FACTUAL. As Karl and I have explained here about 30 times. But nobody here wants factual information. Everyone wants their own BS opinions, prejudices and garbage.
And for the 30th time you didn't understand anything of what was said.
80 traders viewing now