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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

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I am wondering if any of these guys who complain about their 2 or more accounts being combined for payouts, if they owned a prop firm and the traders that had signed up with the firm lost more in one account than they made in the other account, would they pay these traders?
Long question. Hope it makes sense.
With regard to TPT, it is easy to argue about logic and semantics, but none of it really matters much. The fact is, this firm made a decision to impose an unwritten rule, after the fact. Furthermore, they have refused to address the matter fairly and professionally. Not only was I banned from their discord for simply asking about this rule, but they have yet to make any efforts to clarify this rule on their website.

If there are any traders that still want to partner with this firm after having this information, then I wish them the best of luck. I certainly would not judge anyone for choosing to do so, as we all may be facing different circumstances, however, I personally think that integrity matters. When I see a firm that does not value or respect their traders, then the decision becomes easy for me.

There are many good alternatives available, so no need to give this firm any more attention until they makes things right, in my opinion.
Quoting OutThere
I am wondering if any of these guys who complain about their 2 or more accounts being combined for payouts, if they owned a prop firm and the traders that had signed up with the firm lost more in one account than they made in the other account, would they pay these traders? Long question. Hope it makes sense.
Haha do you think any prop firm out there be it MyFF or FTMO people always blow up live accounts As per MyFF statistics there were hardly any account more than 1 year old. Even good traders blow accounts and pass evaluations again.
Also they have clear rule you can't copy or hedge account so each account should be traded independently. As people mentioned earlier its intent that matters more and clearly TPT indent is grey area. What worries me more is they don't point this out in terms or conditions even after people complained.
Quoting OutThere
I am wondering if any of these guys who complain about their 2 or more accounts being combined for payouts, if they owned a prop firm and the traders that had signed up with the firm lost more in one account than they made in the other account, would they pay these traders? Long question. Hope it makes sense.
It not a matter of principle, or rules implemented by the firm, each firm has as I mentioned before the complete freedom to do so.

Its the fact that firm never mentioned this supposed "Rule" in neither the contract, the FAQ or anywhere on the website.

Thats the core problem here, and thats a reflection of their trustworthyness. In my judgement, thats deceptive and scam behavior. Point blank.
Looking over the various comments about the various prop firms .. I would recommend steering clear of any prop firm that has targets set to a limited number of days. It will inevitably push you to increase your risk and blow their daily drawdown limit (or the max drawdown).

btw some prop firms do allow copy trading ..
Quoting sampat
{quote} Haha do you think any prop firm out there be it MyFF or FTMO people always blow up live accounts As per MyFF statistics there were hardly any account more than 1 year old. Even good traders blow accounts and pass evaluations again. Also they have clear rule you can't copy or hedge account so each account should be traded independently. As people mentioned earlier its intent that matters more and clearly TPT indent is grey area. What worries me more is they don't point this out in terms or conditions even after people complained.
link where I can read of MFF statistics?
in holiday till end of November
Another warning about The Prop Trading.

In this video we can see at minute 9:40 and 17:27 that he replied to a person whose payout was denied due to excessive lot exposure and another person because of trading style.

Lot limitation was removed some time ago. This could be an old account that still has the limitation but he doesn't deny that this can happen.
He even give examples of what he thinks it's excessive exposure.
That's (another) unwritten rule. If there is some threshold that they consider "excessive" they should have that stated in the site, being 20 lots, 30, 50 or whatever they think.

It's shady to have this:
Is there a lot size limit? REMOVED!
There is NO max lot size restriction for any accounts on Evaluation Step 1 and 2 and for all Funded Accounts with Agreement signed from 01.07.2022. Trade your own way.
and then refusing a payment because someone used excessive leverage.


For trading style we would have to know more details about it. The only generic rule close to that is this:

What is Trading according to a real market condition?
Trading activities must be genuine according to real market operation and traders must not use practices that cannot be verified against real market conditions. Trading using strategies that misuse the real market function or that are intended to take advantage of any system vulnerabilities or deceive the live market execution is not allowed and will be considered a violation. The use of the following is not acceptable within our guidelines: copy trading of other persons signals, gap trading, tick scalping, latency arbitrage, long short arbitrage, reverse arbitrage, hedge arbitrage, opposite account trading multiple accounts in opposite directions or any use of emulators.
Quoting Capablanca
Another warning about The Prop Trading. In this video we can see at minute 9:40 and 17:27 that he replied to a person whose payout was denied due to excessive lot exposure and another person because of trading style. Lot limitation was removed some time ago. This could be an old account that still has the limitation but he doesn't deny that this can happen. He even give examples of what he thinks it's excessive exposure. That's (another) unwritten rule. If there is some threshold that they consider...
Exactly, there is just so much ambiguity and room for BS such that the firm can arbitrarily deny payouts on a whim. It would be good if traders can contact their discord etc and express that this is unacceptable and that they are about to be blacklisted.
Purchased several evaluation account with FTMO, MFF and TPT but i always failed. I guess trading prop firms is not ideal for my trading strategy. Their rules is just way to tight that with my strategy, it won't give me a bit of wiggling room.
Quoting OranJuice
{quote} It not a matter of principle, or rules implemented by the firm, each firm has as I mentioned before the complete freedom to do so. Its the fact that firm never mentioned this supposed "Rule" in neither the contract, the FAQ or anywhere on the website. Thats the core problem here, and thats a reflection of their trustworthyness. In my judgement, thats deceptive and scam behavior. Point blank.
If you will never work with them anymore, just sue them. If I remember well, they are in Australia, real office, and if I remember well even with license.

just take a lawyer, and they would not want to go to the court to risk to pay profit and legal fees.

The best way is that, a lawyer will cost few, will send just a letter to them that if they don't pay in xx days, the lawyer will proceed via a court.

That's it, at 90% will work just with first step, second step ask and decide will lawyer.
in holiday till end of November
Quoting Nsak3y
{quote}-1. Yes, they are very new. They are still updating their website/offers it seems, so I would personally hold off on trading with them for a bit until they get all of their ducks in a row and have some payout proofs. They do have a public forum and the founder is pretty active. 2. The stop-loss rule can be removed through customizable options. There are some really good options to choose from. You have to click on the 'purchase MT4/MT5' button to see the options. {image} 3. Yes, EA's exist for automatic placing of SL/TP. I use Ronz SLTP MT5....

ROZN SLTP MT5 advisor is amazing I like it.

This is an advisor. There is something similar but that I can set up in a way than when I buy he continue alone to buy every xx pips the fixed lot I need, or a lite martingale like 0.01 0.02 0.03 max.

I remember yes, which is the best? (MT5)

Something like this would be super, but for MT5
https://www.mql5.com/en/market/produ...er#description
in holiday till end of November
Quoting Capablanca
Another warning about The Prop Trading. In this video we can see at minute 9:40 and 17:27 that he replied to a person whose payout was denied due to excessive lot exposure and another person because of trading style. Lot limitation was removed some time ago. This could be an old account that still has the limitation but he doesn't deny that this can happen. He even give examples of what he thinks it's excessive exposure. That's (another) unwritten rule. If there is some threshold that they consider...
I hate to be the one that keeps defending TPT because there are many far better options, but I distinctly remember that they stated several times that old accounts will have lot size restrictions. Which pissed of much of their old customers. Still this might just be an old account.
The wild wild West goes both ways and often it turns out that those who complain loudest about a prop simply can't read or otherwise try to create social media pressure on these companies to force them into submission. Hence my skepticism when it comes to complaints about established firms.
Quoting muir
{quote} I hate to be the one that keeps defending TPT because there are many far better options, but I distinctly remember that they stated several times that old accounts will have lot size restrictions. Which pissed of much of their old customers. Still this might just be an old account. The wild wild West goes both ways and often it turns out that those who complain loudest about a prop simply can't read or otherwise try to create social media pressure on these companies to force them into submission. Hence my skepticism when it comes to complaints...
I dont think it is older account if it was like that it would have been mentioned by the caller. As he explained it was too much risk for the firm. Again it is relative unless you put them onto paper. This is again grey rule.
Quoting sampat
{quote} I dont think it is older account if it was like that it would have been mentioned by the caller. As he explained it was too much risk for the firm. Again it is relative unless you put them onto paper. This is again grey rule.
That's my point, it would not have been mentioned. I am convinced that the majority of complainers are actually just trying to scam the props rather than the other way around. Note that I'm only talking about the established firms and not the newcomers. Still, best business practice is to hear from both sides before crying wolf.
Quoting muir
{quote} That's my point, it would not have been mentioned. I am convinced that the majority of complainers are actually just trying to scam the props rather than the other way around. Note that I'm only talking about the established firms and not the newcomers. Still, best business practice is to hear from both sides before crying wolf.
Lets give benefit of doubt to TPT but who is stopping them to clearly write rules like MyFF and FTMO? Why to put such conditions after getting profits. Even if trader was gambling dont you think prop firms also tend to advertise as casino no lot limits etc etc.
TPT also know if they put such conditions all gamblers run away and they loose signups thats why they don't put such conditions on paper.

Only work around with such firms is once you get 5-10% stop trading and wait for withdrawal so they don't bother with such rules.
Quoting forexbali
{quote} If you will never work with them anymore, just sue them. If I remember well, they are in Australia, real office, and if I remember well even with license. just take a lawyer, and they would not want to go to the court to risk to pay profit and legal fees. The best way is that, a lawyer will cost few, will send just a letter to them that if they don't pay in xx days, the lawyer will proceed via a court. That's it, at 90% will work just with first step, second step ask and decide will lawyer.

Their address used to be an apartment.
Quoting Takisd
{quote} Their address used to be an apartment.
You can't kill a fly with atom bomb. It is part and parcel of the prop firm game. If it was possible Jessica from Funding talent would be behind jail but she started new scam
Quoting sampat
{quote} You can't kill a fly with atom bomb. It is part and parcel of the prop firm game. If it was possible Jessica from Funding talent would be behind jail but she started new scam

At least her new scam wont be very successful, maybe just enough for the lipo.
Quoting muir
{quote} I hate to be the one that keeps defending TPT because there are many far better options, but I distinctly remember that they stated several times that old accounts will have lot size restrictions. Which pissed of much of their old customers. Still this might just be an old account. The wild wild West goes both ways and often it turns out that those who complain loudest about a prop simply can't read or otherwise try to create social media pressure on these companies to force them into submission. Hence my skepticism when it comes to complaints...

I pointed out in my post that could be an old account BUT the guy gave examples of what he considers excessive (listen at 9:40).

So, he doesn't deny that there is some concept of "excessive leverage", which is unwritten.

This is even worse because they announced, loud and proud, that they were removing the size limitation. Now we know that there's no limit, unless they find excessive.

Why don't they state a cap like 20, 30 or 50 lots limit, if they think that anything above is "excessive" ?

This is shady behavior.
Quoting muir
{quote} I hate to be the one that keeps defending TPT because there are many far better options, but I distinctly remember that they stated several times that old accounts will have lot size restrictions. Which pissed of much of their old customers. Still this might just be an old account. The wild wild West goes both ways and often it turns out that those who complain loudest about a prop simply can't read or otherwise try to create social media pressure on these companies to force them into submission. Hence my skepticism when it comes to complaints...

I find it interesting that you consider the TPT an "established" firm, because they absolutely are not.

They are an illegitimate firm in my opinion, and they egnage in scammy behavior. I have all the evidence on my side that proves that this firm denied me a payout based on rules not existing in the contract whatsoever.

Moreover, any person trying to get their side on this issue gets completely silenced andd blocked. 2 senior people here tried to ask some questions regarding this on Discord - and the reaction? BLOCKED. Did not even answer any questions.

Moreover, TPT has 4.5 stars of 5, out of which the overwhelming majority are "begged" reviews, i.e paid in an indirect ways. So even with all efforts of begged reviews, they still have 4.5.

I dont consider a firm to be "established" or "major" unless it has atleast 2000 review with a strict rating of 4.9 , any other than that there is shady behavior.


Oh and one last thing, there has been many reviews (1 star) on trust pilot calling them out for failing them for no legitimate reason, but they get silenced and their reviews squelched. I will however not be silenced, and I will not remove my reviews until I get paid the $19000 I am owed.
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