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Anyone trading with a Prop firm 2 replies

prop firm new model - my trading journey 869 replies

So I accepted a Prop Trading job in South Beach Miami 43 replies

Attachments: Prop Firm Hub
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Prop Firm Hub

Quoting Vitore
{quote} Sadly most companies lose their customer focus when they grow up. MFF used to have skilled people on their Discord. They're gone and the customer support employs staff who just follows their handbooks without understanding the merit. Possibly I just incorrectly assumed that despite their growth this glorified prop firm would have transparent processes and rules and when in doubts they would at least behave slightly different way to their traders. Seems I was wrong
I do recall early on something similar happening to me as well. I was dancing close to the edge with a hedged position. Even tho I was able to recover in profits the negative positions were closed first, and briefly blew me out. I recall it was with FTMO. There was a time that it lagged in its telemetry and it never recorded the breach.
Trade with confidence, trade without fear.
Quoting Cryptosurf
{quote} I do recall early on something similar happening to me as well. I was dancing close to the edge with a hedged position. Even tho I was able to recover in profits the negative positions were closed first, and briefly blew me out. I recall it was with FTMO. There was a time that it lagged in its telemetry and it never recorded the breach.
You reminded me exactly the same happened to me as well, with TFF, about a year ago I guess. They also did not notice. Well, MFF seems to be far ahead of their competition :-D
Even a broken clock is right twice a day
MFFX Funded All Time Return: 17.9%
Quoting pipmaster77
{quote} Hmmm, got this email from TFTP last week. Spreads appear the same currently and they state no impact. Dear Trader, In light of the recent changes in spreads and conditions, we will be disabling all raw FX pairs, and transitioning to using standard forex symbols. Please note that the raw symbols only affect forex pairs under the .i suffix (Ex. EURUSD.i). These changes will take place on February 10th, at 4 pm EST. All commodities and indices will remain the same and have no changes. Any open positions on the raw forex symbols must be closed...
They say it's only on Feb 10th so until then it should be the same. Next week we will see the changes.
Quoting pipmaster77
{quote} Hmmm, got this email from TFTP last week. Spreads appear the same currently and they state no impact. Dear Trader, In light of the recent changes in spreads and conditions, we will be disabling all raw FX pairs, and transitioning to using standard forex symbols. Please note that the raw symbols only affect forex pairs under the .i suffix (Ex. EURUSD.i). These changes will take place on February 10th, at 4 pm EST. All commodities and indices will remain the same and have no changes. Any open positions on the raw forex symbols must be closed...
It could be that 8cap is making some changes to their configuration. Could even be a different price feed between the symbol sets. Their explanation in the email doesn't make any sense though.
Quoting Vitore
{quote} Is it really so bad? I compared the demo standard account they provide with the 8cup ecn demo and the difference on fx pairs seems as small as the equivalent of the commission, on xau and indices the spread is even exactly the same. Considering others charge commissions on xau and indices while BigPip does not this makes their trading costs on xau and indices much cheaper than of the others using 8cap Am I missing something?
I spent some time comparing the spreads for EURAUD, on the raw they were around 0.7 pips and on the standard feed around 2 pips. If you factor in the 0.7 pips commission to the raw, we are at 1.4 pips, so on the standard the cost would be almost the same as paying double commission. Could be less or more depending on the pair but I would definitively prefer trading on a raw feed.
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Quoting quinotaur
gutstofail
-Thanks for sharing.

Offer looks good but unrealistic. Website looks cheap and the domain name is questionable. Smells fishy to me.
Quoting TraderTero
{quote} I spent some time comparing the spreads for EURAUD, on the raw they were around 0.7 pips and on the standard feed around 2 pips. If you factor in the 0.7 pips commission to the raw, we are at 1.4 pips, so on the standard the cost would be almost the same as paying double commission. Could be less or more depending on the pair but I would definitively prefer trading on a raw feed.
Yes, I always prefer raw plus small commission. We will see if it changes once the raw symbols are removed. I may have to adjust which instruments I trade at which firm.
Quoting quinotaur
{image}
Anything going against the current stifling top 3 cartel is a breath of fresh air.
Quoting Expo33
{quote} Passed my one-step 10K MyFundedFX evaluation in 6 days. The dashboard instantly showed a "submit" button. After clicking submit I got an email right away saying my account was in review. Got an email 15 minutes later saying that the account was verified and that I was a big-time trading stud Submitted ID docs with the signed agreement and will update if/when I get the funded credentials. Just saw in discord they have a new 15% discount on any plan running until Feb.10th. Use code "Loyalty" {image}
Received my funded credentials in 20 hours. So far a very smooth operation.

Now to make some profit so I can see how the withdrawal goes in 2 weeks.
"Pride always comes before destruction...." -Proverbs 16:18
Quoting Nsak3y
{quote}-Thanks for sharing. Offer looks good but unrealistic. Website looks cheap and the domain name is questionable. Smells fishy to me.
Since 90% of your posts are in MyForexFund discussions I do not find any value in your opinion. Sorry new providers are arising up there will be no more just the ones that are offering something no trader would achieve in 10 years
Quoting OutThere
{quote} Anything going against the current stifling top 3 cartel is a breath of fresh air.
Exactly to the point
Quoting Nsak3y
{quote}-Thanks for sharing. Offer looks good but unrealistic. Website looks cheap and the domain name is questionable. Smells fishy to me.
Regarding domain name and this is article from 2018, also .online domain name is more expensive then .com worldwide, use some google research if you post about the specialty you do not know anything about it

1.) .online is versatile
The word ‘online’ is understood in over 24 languages around the world. Just as the word “pizza” has a direct translation in other languages, .online has the same meaning in multiple languages. This makes it a good choice for companies that plan to conduct business internationally.
2.) .online compliments businesses with physical locations
If your business is primarily brick and mortar, .online is perfect to communicate that you have an extension of your business online. Not just for large multinational corporations, .ONLINE works well for businesses that have a physical location or physical store. It is also a smart choice for universities and education institutions that offer distant online learning, online certificate courses and online degree programs.
3.) Popular in Europe
.online is the most well-known new domain extension in Europe. It ranks number one in Germany, France and Poland. From a consumer-awareness standpoint, .online is a good choice.
4.) Strong Usage
Over 1 million .online domain names have been registered across the globe. But going past simply registration, the number of people who actually use their domain and create a website has also been increasing rapidly. There are over 120,000 active websites using .online which further helps with general awareness.
As a name that is understood globally and one that clearly denotes being live on the internet, .ONLINE is a great choice for anyone that wants to secure a prominent place on the internet.
Quoting quinotaur
{image}
Let me get this right… you’ve called your company Guts to Fail?
Quoting quinotaur
Since 90% of your posts are in MyForexFund discussions I do not find any value in your opinion.
-Most of my posts have been made in this thread, actually.

Quoting quinotaur
Sorry new providers are arising up there will be no more just the ones that are offering something no trader would achieve in 10 years
-Look at the offer. $669 for $16,000 worth of draw-down without any challenge phases. That's 24x your buy-in. Would you feel comfortable giving 16k of your money to anyone that was willing to give you $669, without proving themselves?

The logic is failed. As such, we can surmise that there is no real trading going on (no real capital at risk), and therefore, the model is purely funded by the buy-in fees. Meaning, any trader that is successful will quickly become a target AND the numbers do not work in the firm's favor and will likely result in quick failure unless they can find some way to scam traders.

Quoting quinotaur
Regarding domain name and this is article from 2018, also .online domain name is more expensive then .com worldwide, use some google research if you post about the specialty you do not know anything about it
-Just because something costs more, does not make it the better option. But since you are making a fuss about it, I was also referring to the actual name of the company.

Quoting quinotaur
Exactly to the point
-I said thank you for sharing. I am always appreciative of people sharing new firms here. I also always share my thoughts about them, good or bad. No need to take things personally.
I was checking out Big Pip Funding as their account sizes seemed a bit off from what other props at 8Cap offer. So, I contacted 8Cap support and they said they don't have any relationship with them. Seems strange. Maybe they are just making demo accounts like other props did back in the day with IC Markets before they got booted off their servers. Stay vigilant!
Quoting WhoopTrader
I was checking out Big Pip Funding as their account sizes seemed a bit off from what other props at 8Cap offer. So, I contacted 8Cap support and they said they don't have any relationship with them. Seems strange. Maybe they are just making demo accounts like other props did back in the day with IC Markets before they got booted off their servers. Stay vigilant!
As with all of these new prop companies, it's probably better to wait for some payout proofs
[quote=Nsak3y;14318023]{quote}-Most of my posts have been made in this thread, actually. {quote}-Look at the offer. $669 for $16,000 worth of draw-down without any challenge phases. That's 24x your buy-in. Would you feel comfortable giving 16k of your money to anyone that was willing to give you $669, without proving themselves? The logic is failed. As such, we can surmise that there is no real trading going on (no real capital at risk), and therefore, the model is purely funded by the buy-in fees. Meaning, any trader that is successful will quickly become a target

Bro your intention was not to thank me but to discard competition with your loved one MyForexFunds whose CEO is of Pakistani origin and has blocked Pakistanis from registering with My Forex Funds, after they paid him substantial amounts of money, he called them cheaters. There is nothing not logical with this offer and $669 if you read well is a monthly recurring fee...there are also one-time fees Bro.
Also, it is absurd to have any challenge phase, that is something those companies selling demo accounts invented as if traders ever pass the challenge or evaluation and they start trading it is not guaranteed that they will be successful
Quoting Nsak3y
{quote}-Most of my posts have been made in this thread, actually. {quote}-Look at the offer. $669 for $16,000 worth of draw-down without any challenge phases. That's 24x your buy-in. Would you feel comfortable giving 16k of your money to anyone that was willing to give you $669, without proving themselves? The logic is failed. As such, we can surmise that there is no real trading going on (no real capital at risk), and therefore, the model is purely funded by the buy-in fees. Meaning, any trader that is successful will quickly become a target AND...
Remember they are the monthly fees. The other thingt is thew numbers for max loss payouts etc are off as well in my opinion. See image:
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No matter which size account the ask is $3k profit before any payout. The other side is max allowed loss, 5k on 50k (10%) 8k on 100k (8%) 16k on 500k 3.2%. and then there is the fees $100 difference between 50k an 100k and only $200 between 100k and 500k. If you decided to get extra loss room then take 5 x 100k and get 40k in max loss for $2345 a month or get 3 x 500K for 48,000 in max loss for $2007 a month. At thend of the day it is the loss percentage that makes the difference in my mind.

There is very little info about max number of accounts etc etc and a search for Quinotaur SA Inc only produced one hit on Google.. Would have thought with this statement "The trading service was founded in 2014 and served more than 50000 traders worldwide with education and trading analysis. We have found a new way to develop traders and our business by providing funds for trading." there would have been more hits...

Good luck to all.
maahome
Quoting quinotaur
Quoting Nsak3y
{quote}-Most of my posts have been made in this thread, actually. {quote}-Look at the offer. $669 for $16,000 worth of draw-down without any challenge phases. That's 24x your buy-in. Would you feel comfortable giving 16k of your money to anyone that was willing to give you $669, without proving themselves? The logic is failed. As such, we can surmise that there is no real trading going on (no real capital at risk), and therefore, the model is purely funded by the buy-in fees. Meaning, any trader that is successful will quickly
...
Can give me a free funded account without any form of drawdown? We share profit 50/50.
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