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(binned per thread starter’s request) Proprietary Trading firms

  • #1
  • First Post: Edited Aug 29, 2020 3:26pm Aug 28, 2020 11:29pm | Edited Aug 29, 2020 3:26pm
I will share my experience with prop firms.
Determination + Persistence = Success
  • #2
  • Sep 1, 2020 2:15am Sep 1, 2020 2:15am
Do Tell us, I'm interested.

Regards,

Philip
All Assets NAS100 GLD BTC AUS JPY GBP All Time Return: 19.6%
  • #3
  • Sep 3, 2020 3:26pm Sep 3, 2020 3:26pm
There are many many prop firms, you have to do your own due diligence on whom to work with based on your trading attitude.

My choices are

  1. FTMO
  2. 5%ers
  3. MyForexFunds
  4. ForexTips101 aka FundingTalent
  5. BluFx

I invested my money and time in them and quite a few which are not listed here.

I concluded that these are prop firms for my trading attitude. your choice might be different, that is fine.

the ultimate goal should be to have at least one 100K account with the prop firm of your choice.

In the next post, I will share about my experience with one of the broker.

Determination + Persistence = Success
  • #4
  • Sep 8, 2020 12:20pm Sep 8, 2020 12:20pm
It seems to me that today there are many companies that can be trusted and that can provide quality services for your business. But unfortunately today there are many times more companies with bad reputation, which perform fraudulent actions. Therefore, before you entrust your money and time to any company, you need to gather as much information as possible and prepare for this cooperation. I would definitely start by checking the documentation to make sure that the company deserves attention, plus it must have all the permits to carry out financial activities. You must fully understand and understand the rights and obligations of the parties - this is a guarantee that you will be focused on business and not on problems.
  • #5
  • Sep 12, 2020 2:52pm Sep 12, 2020 2:52pm
MyForexFunds aka MFF refused to pay my Bonus $4,319.44 for the trading week ending 9/11

The file has the complete story
Attached File(s)
File Type: pdf MFF - A Shady Prop Firm.pdf   1.2 MB | 1,791 downloads
Determination + Persistence = Success
  • #6
  • Sep 13, 2020 3:42pm Sep 13, 2020 3:42pm
Quoting SKLearn
MyForexFunds aka MFF refused to pay my Bonus $4,319.44 for the trading week ending 9/11 The file has the complete story {image}
Real sorry to hear about this. Hope it gets fully resolved.

But you mentioned you went straight in for a 500k ... at $495 fee for each $100k you paid approx $2,500 in fees assuming the latest offer they are promoting (unless you got an extra special deal?). The fees they have paid back to you plus you say they were offering a 5% too (not sure what that was?). So 4300 - 2500 they are quibbling over around $1,800? Just doesn't make commercial sense to me to make such a decision.
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #7
  • Sep 14, 2020 1:03am Sep 14, 2020 1:03am
Quoting Freefox
{quote} Real sorry to hear about this. Hope it gets fully resolved. But you mentioned you went straight in for a 500k ... at $495 fee for each $100k you paid approx $2,500 in fees assuming the latest offer they are promoting (unless you got an extra special deal?). The fees they have paid back to you plus you say they were offering a 5% too (not sure what that was?). So 4300 - 2500 they are quibbling over around $1,800? Just doesn't make commercial sense to me to make such a decision.
Thank you and I dont think they will pay any money.

No, the price for 250k account is different. I used MFF2020 to get 5% discount.

I only took the refund of what I paid. I declined the 5% inconvenience fee.
Determination + Persistence = Success
  • #8
  • Oct 2, 2020 11:19am Oct 2, 2020 11:19am
hopefully some get inspired.
Attached Image (click to enlarge)
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Determination + Persistence = Success
  • #9
  • Oct 3, 2020 10:34am Oct 3, 2020 10:34am
Quoting SKLearn
hopefully some get inspired. {image}
This an example of what 'having patience' can do in trading.

a trader should know, this will not happen every day; waiting for trade setup is part of the game. When that happens, BE READY and ACT.
I shared that just to show if one waits, the challenge can be cleared in few days.
patience is the key.

it is easy to laugh/mock/comment on others...people have no idea about the work behind the scenes.
successful traders never belittle the success of other traders; because they know what it takes.

it is stacked trades(at key levels) on couple of instruments in the direction of trend once in profit is what cleared this challenge.
I guess, that is trading at it's finest.

on gambling, anything that has risk is gambling...the key is whether it is mad gambling or smart gambling. it is to the individual.
Determination + Persistence = Success
  • #10
  • Oct 13, 2020 8:42am Oct 13, 2020 8:42am
Quoting SKLearn
hopefully some get inspired. {image}
hopefully some more get inspired.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 57 KB
Determination + Persistence = Success
  • #11
  • Oct 23, 2020 8:25am Oct 23, 2020 8:25am
Quoting SKLearn
{quote} hopefully some more get inspired. {image}
Hello my friend, I can make five percent profit per month, but I am worried about different accounts and companies. Do you suggest a place?
  • #12
  • Oct 27, 2020 12:06am Oct 27, 2020 12:06am
Quoting amir101
{quote} Hello my friend, I can make five percent profit per month, but I am worried about different accounts and companies. Do you suggest a place?
If you are asking about prop trading firm recommendation, I suggest FTMO, 5%ers and BluFx

All others are crap; especially the Canada based firms are a BIG NO.
Determination + Persistence = Success
  • #13
  • Oct 29, 2020 2:25am Oct 29, 2020 2:25am
Quoting SKLearn
{quote} If you are asking about prop trading firm recommendation, I suggest FTMO, 5%ers and BluFx All others are crap; especially the Canada based firms are a BIG NO.
FundingTalent aka ForexTips101 is an Exception
Determination + Persistence = Success
  • #14
  • Oct 29, 2020 3:12am Oct 29, 2020 3:12am
Attached Image
Determination + Persistence = Success
  • #15
  • Nov 29, 2020 2:09am Nov 29, 2020 2:09am
Have you looked at these guys?, im not sure about them
100,00 account, max loss is $500
to pass their evaluation you need to make $900
cost is $140 AUD per month until you pass.
80% profit share

Home - The Prop Trading (https://theproptrading.com.au/)
  • #16
  • Nov 29, 2020 3:02am Nov 29, 2020 3:02am
Quoting geoffrod
Have you looked at these guys?, im not sure about them 100,00 account, max loss is $500 to pass their evaluation you need to make $900 cost is $140 AUD per month until you pass. 80% profit share Home - The Prop Trading (https://theproptrading.com.au/)
with a weekly loss of 250!!! so either u risk 100 per trade only on high probability stuff and even then market could get u cos nothing is fool proff, or u go about this with proper risk management risking about 25 bucks per trade which is about 10% of ur weekly max loss. either way the possibilities of having to renew or to extend to a second month by paying another 100 bucks are higher then expected. nontheless, thing is the leverage is low, so u d need the 500k account imo to make a dent per month, correct me if i m wrong.
  • #17
  • Feb 21, 2021 7:46pm Feb 21, 2021 7:46pm
Quoting 1odi
{quote} with a weekly loss of 250!!! so either u risk 100 per trade only on high probability stuff and even then market could get u cos nothing is fool proff, or u go about this with proper risk management risking about 25 bucks per trade which is about 10% of ur weekly max loss. either way the possibilities of having to renew or to extend to a second month by paying another 100 bucks are higher then expected. nontheless, thing is the leverage is low, so u d need the 500k account imo to make a dent per month, correct me if i m wrong.
So they have changed their plan to be in line with FTMO now

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Biggest difference is you only require 8% profit on phase1, and 4% profit on Phase2. also you get 3 goes at it as long as you havent violated any rules.seems not a bad deal now.
  • #18
  • Mar 21, 2021 8:52pm Mar 21, 2021 8:52pm
Based on my experience, I suggest these firms:

  1. FTMO
  2. the5%ers
  3. BluFx

They have different approaches in offering prop firm trading opportunity;
I find them very reliable.

Determination + Persistence = Success
  • #19
  • Mar 21, 2021 9:00pm Mar 21, 2021 9:00pm
Quoting geoffrod
{quote} So they have changed their plan to be in line with FTMO now {image} Biggest difference is you only require 8% profit on phase1, and 4% profit on Phase2. also you get 3 goes at it as long as you havent violated any rules.seems not a bad deal now.
This prop firm had been red flag before. Now they redress again and throw out some generous baits to get us hooked.
If we can move in fast now and grab our gold (this provided you are a pretty good trader) and run before they shift back to their scamming mode.
  • #20
  • Last Post: Apr 22, 2021 9:29pm Apr 22, 2021 9:29pm
Hi,

How can we know the account of prop trading firm provide us is real or demo (real money) and they can adjust the data in MT4/M5 or not?

Thanks,
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