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Anyone trading with a Prop firm 6 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

prop firm new model - my trading journey 871 replies

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Prop Firm Hub

Quoting pipmaster77
{quote} Alpha futures in green, Darwinex in red.........you folks have lost your minds.
Do not take it too serious. This is just an indicator developed from observations. Usually there is resonance regarding 1 star reviews to all reviews when there are payout issues. Also it is a user based experience and everyone can judge different on different things. But since payout safety is most important, this is for me the one to follow. Of course it can be manipulated by deleting 1 star reviews and forcing customers to give 5 star reviews for discounts or other incentives. But nothing is perfect you know. It is simply an indicator, no more and no less. It also depends over time, sometimes it is more useful and sometimes less. It depends. So (I) watch it over time.
Quoting pipmaster77
{quote} Alpha futures in green, Darwinex in red.........you folks have lost your minds.
On Darwinex there are not many reviews, first. Second, the problem is in the score calulation, it is not transparent how they do it and it has bigger consequences. So people are complaining on that. Third, some do moan about the payouts, as there are so small, and it is also a patience game, where you need to wait long. People seems to be impatient here too. Of course you might complain about the folks, but it is the user experience. And you know in a democracy the majority, the folks, rules.
Quoting RoelsMajor
Some update from broker backed prop firm list this week Add: FXIFY, Funded Prop BX, MV-Funded, and Nordic Funder {image}
which prop firm is this MATCH?
Inserted Video

"I think regulation should bring protection to both parties:
- Give sizing limitation options for traders to reduce gaming
- Require of firms disclosure of pass/fail statistics (like lotto has does)
- Remove trailing drawdown since that only works to benefit a prop firms, not in live trading. Nothing about it makes you better in live trading
- Audit/regulate data feeds like Rithmic, they shouldn't get a pass when they've blown tens of thousands of trader's accounts with no consequences.
How many "path to live" will crappy data connection prevent for the CME?"
(From a comment below Youtube video)
Bought the 5 CFD accounts today. A few others I know were interested in doing similar. There are now 12 systems that can be repeated, some are strictly buy side some are strictly sell side. All of them have some edge but drawdown limits and requirement to pass must be managed adequately.

Lets see how quickly I can push these prop accounts with AI, any profit I will send to a few charities as I do not need it and I am too old to find a way to use it.

When reviewing rules I have noticed that most of the highly rated props have rules that are hidden in "features". For example, e8's payout on demand is not really payout on demand, it is a consistency rule with added benefit (for the 1 phase pro).
Consistency and immeasurable anti-gambling rules are now par for the course.

The CFD prop space may have evolved into something smaller but sustainable. Perhaps it is the future, perhaps it is not.
FYI, do not invest time in any Prop Discord. This is only a waste. You won't get any useful info. No help too if needed. Send emails only, best and only way to deal with.
Quoting navk
{quote} Well, three days done in my Funded SIM account with Tradeify Day 1 : 256 $ Day 2 : 156 $ Day 3 ( Today ) : 132 $. They have consistency rule. 35 % And 10 days trading minimum, then 5 days 100 $ minimum in a 10 day period. Hope this is ok.
As of today, the consistency number is 0.46, which is not ok.

I need to see that the consistency falls below 0.35 in order to claim profit.

So, when there is consistency rule, one needs to make profit/ loss accordingly.

It is not breach of rule if it is above 0.35 but one has to trade longer until it drops below 0.35

I made consistency rule calculator for my own use to plan.
Intraday only.
Just a question has someone experience with IC Funded as prop firm ? Any hidden rules or rules only mentioned in the terms ? I could not find anything suspicious.

Just now I found something that got my attention reading the terms and conditions of IC Funded.

For their 2 phase challenges on their website they do not say anything about consistency rules, but in your terms and conditions they say that consistency rules are required. So which consistency rules do they have ? Could anyone make examples please or explain those consistency rules ?

Update: I found it below RULES pdf on the bottom of the website. It is not mentioned in the terms. But they say:

"Consistency Rule - required - Required  The consistency rule mandates traders maintain consistent behaviour from evaluation to funded phases, ensuring accurate reflection of capabilities, mitigating risks, and trading skills."

Whatever it means I have no idea. It is not clear to me, but they are talking about consistency rules without mentioning them explicitly. On Website itself nothing.
Quoting Stoneyrocks
{quote} most of the 30% 1 star reviews for DarwinexZero are about how “lousy” the model of Darwinex is compared to the others , nothing scammy about Darwinex , off course, this is not the program for the gamblers going for a quick buck About getting paid ,Darwinex should rank number 1 …
What a good salesman
I opened an account already.
If you take the hitlist of number of reviews with the most number of reviews then there is different ranking. More reviews means more meaningful statistical results.
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So Take Profit Trader and TopStep are on par and by far the best one to choose among futures prop firms based on the user experiences. TPT have best rules it seems.

Uprofit with some distance so there might be issues you do not want.

Apex and MyfundedFutures are certainly no more good, they are on the way to be scammy with all the implemented rules in comparison to other props.
Reputation is damaged but it seems they still can survive based on the past and the many payouts they have done so far. But this is the past. Future can be different.

Fasttrack is already on a 100% scam level, I do not see that they can get out of this. The reputation is too much damaged already. I bet that they will disappear soon.
Quoting Novazor
{quote} which prop firm is this MATCH?
So far only dream. We will find out in the future.
“aim small, miss small”
Quoting RoelsMajor
{quote} So far only dream. We will find out in the future.
This is wrong.

Many of here made money in prop trading. in futures as well as fx

The only thing what we lack is consistency
Intraday only.
Updated on the number of reviews, so any firm with too less reviews got sorted out here. Also more exact percentage numbers applied.
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Out of the CFD broker based props FINTOKEI seems to be the best choice right now. As they are CZECH based and the regulator in Czech said there will be no regulation at all on simulation funded business schemes. So also FTMO is the other big one in CZECH who can be considered as the most safe CFD prop in the world !!
Quoting TrAndy1
Updated on the number of reviews, so any firm with too less reviews got sorted out here. Also more exact percentage numbers applied. {image} {image} Out of the CFD broker based props FINTOKEI seems to be the best choice right now. As they are CZECH based and the regulator in Czech said there will be no regulation at all on simulation funded business schemes. So also FTMO is the other big one in CZECH who can be considered as the most safe CFD prop in the world !!
Quant Tekei isnt broker backed. They bought a broker to facilitate metatrader. Broker backed is the inverse, broker first then prop.
Quoting Takisd
{quote} Quant Tekei isnt broker backed. They bought a broker to facilitate metatrader. Broker backed is the inverse, broker first then prop.
Alright.
Quoting Takisd
{quote} Quant Tekei isnt broker backed. They bought a broker to facilitate metatrader. Broker backed is the inverse, broker first then prop.
It seems like FTMO who also created (?) a broker exclusively for the operation ?
Quoting Capablanca
{quote} It seems like FTMO who also created (?) a broker exclusively for the operation ?
Yep same here, it is not really broker based as the broker is not the priority. At FTMO the prop comes first and then the broker, which seems to be a selfmade one or ?.
Do not forget TakeProfitTrader (TPT) does have only 50% consistency rules on the eval, Topstep (TST) is stricter in total here. Also on TPT you have on demand payouts, so faster to get any money out than TST. In the live SIM TPT has no consistency rules anymore. So TPT is easier, yes it cost little bit more, but this is trade off, cause you get more for your money. You also forgot that THERE IS ALWAYS A RUNNING PROMO CODE FOR TPT. So 40% you need to deduct from challenge fee at TPT to make it comparable.

https://takeprofittraderhelp.zendesk...PROMO-FAQS-Old

"How Does The NOFEE40 Promo Work?

During this “NOFEE40” special promo you’ll get a 40% lifetime discount off any account and have your $130 PRO account activation fees waived for life!"

So not only 40% challenge fee off you also get activation fee of $130 waived for life. That is by far the better offer at TPT than what you can get at Topstep. So TPT is the best futures prop right now. And you can have 5 accounts at the same time too like TST.

https://www.elitetrader.com/et/threa...2#post-6036736
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Quoting trandy1
do not forget takeprofittrader (tpt) does have only 50% consistency rules on the eval, topstep (tst) is stricter in total here. Also on tpt you have on demand payouts, so faster to get any money out than tst. In the live sim tpt has no consistency rules anymore. So tpt is easier, yes it cost little bit more, but this is trade off, cause you get more for your money. You also forgot that there is always a running promo code for tpt. So 40% you need to deduct from challenge fee at tpt to make it comparable. https://takeprofittraderhelp.zendesk...promo-faqs-old...
missing the important point - they have INTRA DAY TRAILING DRAWDOWN ON FUNDED ACCOUNTS
Extreme gut feeling trader
Quoting montygoldy
{quote} missing the important point - they have INTRA DAY TRAILING DRAWDOWN ON FUNDED ACCOUNTS
Correct, but therefore you have no consistency rules anymore, that is something worth too.

https://takeprofittraderhelp.zendesk...rules-the-same
"Removal of Consistency Rule
This one is more obvious, but we do not care about consistency in your pro account. We want you to make as much as possible. There is no such thing as a consistency rule in your Pro Account. "

Also the live trailing stops when you made some profits. SO IT STOPS AT THE STARTING BALANCE IN THE END!
This the same like on Apex, but with the better rules that there no consistencies to be met anymore at TakeProfitTrader and you get payouts on demand!

"On the PRO accounts, the Trailing Drawdown is calculated intraday based on your peak balance which includes realized and unrealized gains. The Drawdown will follow your account intraday as you experience gains, but will not exceed the starting balance."
https://takeprofittraderhelp.zendesk...ck-Of-Drawdown
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