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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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65% off on straight to funded accounts lol.. The desperate moves of an insolvent prop firm.
Quoting TrAndy1
{quote} There is no advantage on any other prop from my math view. I calculated everything including tax disadvantages. I can only trade at Quant Tekel or Personal account. And I would already stopped trading at Quant Tekel and any other prop firm, but I did not got my refund request from QT. So I had no choice than continuing with them.
Prop firm CEO
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TRANdy: Where do I sign up? The math looks good
Pride always comes before destruction.... -Proverbs 16:18
With FTT almost gone you expect similar business models with similar rules on other props will face same fate very probably. So I would stay away from Tradeify too.
Quoting CableJ
{image} 65% off on straight to funded accounts lol.. The desperate moves of an insolvent prop firm.
He and Matt from MFFU have been exchanging love message in X
https://x.com/strieste_ftt/status/1850449454865764719
Quoting zippo22
{quote} They had a server migration. open your trading platform -> go to "open account" - when the window opens -> select server there is a field where there is written "add new company like...." -> paste in this field the following ACG Markets Limited it will pop up in the main widow. Select it and enter the previous account info (# and password) -> done
Thank yu, appreciate it..
@ Andy1

Did you had any contact with someone who has a FundYourFX evolution account and reached beyond level 3 (like level 4 or 5)?
Because if someone reached level 4, he must have got already payouts 18x the purchase fee and by level 5 he must have received 36x the initial fee.
Quoting zippo22
@ Andy1 Did you had any contact with someone who has a FundYourFX evolution account and reached beyond level 3 (like level 4 or 5)? Because if someone reached level 4, he must have got already payouts 18x the purchase fee and by level 5 he must have received 36x the initial fee.
No contact. And I think there is no value to join this firm than trading on personal account.
Any topstep user can confirm....???

Should i be concerned about my trading style???
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Extreme gut feeling trader
Quoting montygoldy
Any topstep user can confirm....??? Should i be concerned about my trading style??? {image}
You should at least check taxation consequences trading a live account at a prop firm. Second, you should have a letter from authorities that you are allowed to trade live accounts on such a prop firm, otherwise if you need to register first as advisor or I do not know what kind is needed in Canada, then you make sure not be illegal.
This is amazing. Paid out in 42s. Not just approved, but money transferred to Rise. MFFU.

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Quoting TrAndy1
{quote} You should at least check taxation consequences trading a live account at a prop firm. Second, you should have a letter from authorities that you are allowed to trade live accounts on such a prop firm, otherwise if you need to register first as advisor or I do not know what kind is needed in Canada, then you make sure not be illegal.
dude, what are u talking about? it s not illegal in almost whole EU to trade with propfirms, be it forex or futures....and yes, i have and i also talked with accountants who have also lawyers at their firm..from where u get all this nonsence..To be a financial advizor u need to be taking money from fisical persons and portray urself as such explicitaly, not trading with entities...not sure about Germany but i kknow people who trade from there and never heard of such nonsence! or they should all be jailed by now?
Quoting 1odi
{quote} dude, what are u talking about? it s not illegal in almost whole EU to trade with propfirms, be it forex or futures....and yes, i have and i also talked with accountants who have also lawyers at their firm..from where u get all this nonsence..To be a financial advizor u need to be taking money from fisical persons and portray urself as such explicitaly, not trading with entities...not sure about Germany but i kknow people who trade from there and never heard of such nonsence! or they should all be jailed by now?
I can only speak for Germany since I am here. For trading live accounts you need to register first, cause the prop firm itself is not registered. So you are not allowed to trade live accounts without permission from Bafin. That is not 100% sure and actual law but the tendency is clear here, that this is the way to go trading LIVE accounts.
Quoting 1odi
{quote} dude, what are u talking about? it s not illegal in almost whole EU to trade with propfirms, be it forex or futures....and yes, i have and i also talked with accountants who have also lawyers at their firm..from where u get all this nonsence..To be a financial advizor u need to be taking money from fisical persons and portray urself as such explicitaly, not trading with entities...not sure about Germany but i kknow people who trade from there and never heard of such nonsence! or they should all be jailed by now?
Also you are wrong with your opinion, that it is all free and it does not matter whether trading live or not on a prop firm. But this is not true, it is only the way actually because there is no regulation. But this will come soon early 2025. And I can tell you from my view and experience that everytime third party real money is involved, this is like part of a banking activity, that this always requires some license. So the prop firm usually needs to be licensed to offer live trading accounts as a prop firm. If this is not the case then you as trader needs to be licensed. Without any registration and license there is no third party money trading on live accounts nowhere allowed.
Quoting TrAndy1
{quote} I can only speak for Germany since I am here. For trading live accounts you need to register first, cause the prop firm itself is not registered. So you are not allowed to trade live accounts without permission from Bafin. That is not 100% sure and actual law but the tendency is clear here, that this is the way to go trading LIVE accounts.
we re not talking bout tendencies here or how u interpret the law...i m talking about the actual law..and last time i checked, yes, Germany is a bit heavier on taxes, but that s it. Moreover, what live accounts with props? and regardless what they do, u trade with them as a consultant, not financial advisor...u ve been ill advised bud///
Also, in whole EU u must declare if u have a live personal account, but that s not a jail offence lol, and also doesn t mean u can t trade whatever the fudge u want...
Anyways, just thought i clear this up cos i keep seeing this everyday, and it s just not true..
Also almost any mediocre accountant should know these things, what s legal and what s not..police doesn t have a fudging clue...
Quoting 1odi
{quote} dude, what are u talking about? it s not illegal in almost whole EU to trade with propfirms, be it forex or futures....and yes, i have and i also talked with accountants who have also lawyers at their firm..from where u get all this nonsence..To be a financial advizor u need to be taking money from fisical persons and portray urself as such explicitaly, not trading with entities...not sure about Germany but i kknow people who trade from there and never heard of such nonsence! or they should all be jailed by now?
I see your profile is from Africa. I do not know the laws about in Zimbabwe, but I was talking about only for the first world countries in EU, USA, UK, CAN, AUS etc.
Quoting TrAndy1
{quote} Also you are wrong with your opinion, that it is all free and it does not matter whether trading live or not on a prop firm. But this is not true, it is only the way actually because there is no regulation. But this will come soon early 2025. And I can tell you from my view and experience that everytime third party real money is involved, this is like part of a banking activity, that this always requires some license. So the prop firm usually needs to be licensed to offer live trading accounts as a prop firm. If this is not the case then...
mate, there u go again with ur assumptions...what u think or how u view things is equal to 0 to me......................
regulations are comin since i started trading props and here we are years later.....i care about the LAW...en of story.
and even if regulationc come, i can almost assure u that won t mean end of propfirms.....heck. maybe it will even e better since it might weed out the 1s that don t pay or have poor conditions etc...
i couldn t read ur whole post cos i realise again that u r talking about what u THINK...u should put a disclaimer cos u are misleading folks with ur scude view of things.
my advise would be to take atleast a call with an accountant firm, ask for some advices and share real facts, not what u think it s gonna or it might happen....Cheers
Quoting 1odi
{quote} we re not talking bout tendencies here or how u interpret the law...i m talking about the actual law..and last time i checked, yes, Germany is a bit heavier on taxes, but that s it. Moreover, what live accounts with props? and regardless what they do, u trade with them as a consultant, not financial advisor...u ve been ill advised bud/// Also, in whole EU u must declare if u have a live personal account, but that s not a jail offence lol, and also doesn t mean u can t trade whatever the fudge u want... Anyways, just thought i clear this...
You cannot ask your accountant. That is about laws you need to ask a specialised lawyer, because even not the average lawyer knows about this. First.
Second. I was a hired financial advisor in the bank. And I was also an independent financial advisor registered with Bafin. So I know exactly the laws in Germany and I can confirm it is almost the same in the whole European Union. And I also looked to USA when I was young and even there you need to register. I am not talking about personal live accounts. I am talking being a professional independent trader on a prop firm or bank etc. Here the entity needs to have a license from the country where they are based on. If the prop firm has nowhere a license and you trade their live accounts with real money, this is a problem. Because it is not allowed for sure. I know.
Quoting 1odi
{quote} mate, there u go again with ur assumptions...what u think or how u view things is equal to 0 to me...................... regulations are comin since i started trading props and here we are years later.....i care about the LAW...en of story. and even if regulationc come, i can almost assure u that won t mean end of propfirms.....heck. maybe it will even e better since it might weed out the 1s that don t pay or have poor conditions etc... i couldn t read ur whole post cos i realise again that u r talking about what u THINK...u should put a...
I am not your or any lawyer, and you should ask your specialised lawyer with that matters. If you do not know what you do with a LIVE at a prop, it is on your own risk.
Quoting TrAndy1
{quote} You cannot ask your accountant. That is about laws you need to ask a specialised lawyer, because even not the average lawyer knows about this. First. Second. I was a hired financial advisor in the bank. And I was also an independent financial advisor registered with Bafin. So I know exactly the laws in Germany and I can confirm it is almost the same in the whole European Union. And I also looked to USA when I was young and even there you need to register. I am not talking about personal live accounts. I am talking being a professional independent...
Now i know ur full of crap...........i pay 500Euro a year to an accounting firm, i have my own accountant which does my taxes, bills, invoices..everything. She knows exactly how i m trading, with what firms, what products etc..She consulted with their lawyer, at that particular firm, since most clients there trade. WTF are u talking about lol.....full of BS..i can t continue this sharade..i trade, i come here from time to time to see what s new in propfirm land..and i see nonsence like that!
tell it to whome wants to listen buddy, i ain t interested. have a good1
Quoting montygoldy
Any topstep user can confirm....??? Should i be concerned about my trading style??? {image}
Nope because you are canadian they can't put you on live. Even if they do you don't have any other option accept it or say good buy to top step..
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