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  • My Forex Funds Era: "Simulated" and "Virtual" Are The New Safe Words for Prop Trading

    From financemagnates.com

    The prop trading industry has become very cautious after My Forex Funds was slapped with fraud charges in the United States. Behind the scenes, these prop trading companies are taking many steps to bolster their compliance. However, one of the visible ones is the sudden language change on their websites. Several prop trading firms, including the popular ones, are now using carefully picked words and phrases to highlight that their "challenges" are taking place on virtual trading platforms rather than on live markets. One of the prominent examples is The Trading Pit. The platform recently added a Risk Disclosure ... (full story)

Quoting Ferna
Well i was tempted to join, but i had a gut feeling things werent right when i read through 60 pages of legal documentation. But what does being right matter if you earned some money and i didn’t?
Its a ponzi scheme. Everybody should know that. I dont have a problem with people trading funded accounts but I strongly recommend them to take out their money on the go and not let it sit with the propfirm. You never know when it will blow up. Afterall the money you have withdrawn is in your pocket.
Quoting Banditten
{quote} Its a ponzi scheme. Everybody should know that. I dont have a problem with people trading funded accounts but I strongly recommend them to take out their money on the go and not let it sit with the propfirm. You never know when it will blow up. Afterall the money you have withdrawn is in your pocket.
likely , give to few while taking from more ,no generation of money anywhere !give and take and ultimately take all and no give return as gambling situation and damaged good traders as enter in this inevitable situation !
ok as educational purposes challenge money for learning /practicing ,provide incentive for good learning or passing candidates but how can provide real money to 80/20 or ratios while again dealing virtual monies !a born to fraud technology from the very beginning .
ok sort out good trader in training / challenge phases to divert them in real trading field and incentive may only 20 % enough within their hard and rules even . hope they do business legally and all do as per good / logical and real intention . traders also be benefitted as once they learn they eventually success in trading with even 10 dollarS own.capital !!
Not understand?better not follow my analyses!doubt clearer first, risks ++
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  • Posted: Sep 29, 2023 6:30pm
  • Submitted by:
     Newsstand
    Category: Forex Industry News
    Comments: 2  /  Views: 10,144

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