DislikedI notice preferred broker is IC. And they state people trading away may only trade FX, is that striktly spot fx, or also CFDs (offered by broker)?Ignored
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I would not recommend ICMarkets if you on MT4, as you executing on a demo account, and the ICMarkets demo servers are horrible, to say the least.
Purple trading is pretty good in terms of pricing and execution.
mt5 and cTrader are of course best with ICMarkets.
most peoples try to go for cheap... which is actually the most expensive route, as you have to invest time in getting it done.
simple 4th-grade math results in fast-track being the best choice as it gets you funded quickly so there is no major time investment, and if you know what you are doing, the security deposit (1%) isn't really an issue.
if you do NOT know what you are doing, better not trade someone else's money at all
Purple trading is pretty good in terms of pricing and execution.
mt5 and cTrader are of course best with ICMarkets.
{quote} Hi mate, how's it going? I've been trading forex for a bit and would like to get funded. Enfoid took my eye and I would like to join with them soon. Do you have a recommended account to start with? Thanks
simple 4th-grade math results in fast-track being the best choice as it gets you funded quickly so there is no major time investment, and if you know what you are doing, the security deposit (1%) isn't really an issue.
if you do NOT know what you are doing, better not trade someone else's money at all
Hey ..
first of all the frontend part of the company is pretty much non-existent due to the current worldwide situation.
but that doesn't mean the company is closed, all support is handled offsite with the exception of Miss Chen.
EnFoid also operates a 100% non-profit community based on Discord called "SwingFish" https://discord.gg/XzuyDT6
support is almost in realtime there, plus actually enrolled traders have a private room where they can freely exchange without having to listen to the average troll
just to get into the "pro thing" real quick,
there are about 40-120 "pro signups" every month .. let me categorize them for you real quick:
90% of them are from peoples that do not even know the basics of trading and just want the "big account"
about half of them try to leverage losses they sustained before by making "one big bet" and not really care about how the Company ends up after they got paid.
the other half just wants to skip the enrollment process and get a free ride.
which is also offered by EnFoid but not via pro enrollment.
so the rest (10%) are usually peoples that "MAY be good traders" but there is no proof, and no reference abut the past either.
so now look at the other side of the coin, there are hundreds of good traders that are already enrolled via the main channel "fast track"
if the company want's to employ a trader, it just picks the best one out of them as there is a actual track record verified by the company itself.
in fact, since 2011 only 2 external traders were employed so far and they do not trade FX. all FX traders that have employment passes came from fast-track.
in short: you have to stand out ALOT in order to skip that barrier,
and if you do, the chances that you will work for EnFoid are very low as large US Prop firms and hedge funds have better deals.
this is simply because in FX the ease of access generates a massive flow of peoples that think they know something.
and there is only one way to verify this claim: giving them money, and that is a matter of risk management and not a matter of being nice to traders.
also, the majority of FX prop traders assume they doing the company a favor, some even refer to it like "EnFoid gets 50% of MY profits"
and this is exactly where things go bad.
about accounts: EnFoid HAS NO INTEREST IN SELLING TRADING EVALUATIONS!!
if you into this, there are firms that are cheaper and have better conditions, since EnFoid returns all past enrollment fees, a failing trader would be a major cost to the company, and not a profit like everyone seems to think.
Accounts smaller than 35k are technically a loss for the company where accounts larger than 400k pose a major risk if the trader is not well known.
just my 5 cents.
first of all the frontend part of the company is pretty much non-existent due to the current worldwide situation.
but that doesn't mean the company is closed, all support is handled offsite with the exception of Miss Chen.
EnFoid also operates a 100% non-profit community based on Discord called "SwingFish" https://discord.gg/XzuyDT6
support is almost in realtime there, plus actually enrolled traders have a private room where they can freely exchange without having to listen to the average troll
just to get into the "pro thing" real quick,
there are about 40-120 "pro signups" every month .. let me categorize them for you real quick:
90% of them are from peoples that do not even know the basics of trading and just want the "big account"
about half of them try to leverage losses they sustained before by making "one big bet" and not really care about how the Company ends up after they got paid.
the other half just wants to skip the enrollment process and get a free ride.
which is also offered by EnFoid but not via pro enrollment.
so the rest (10%) are usually peoples that "MAY be good traders" but there is no proof, and no reference abut the past either.
so now look at the other side of the coin, there are hundreds of good traders that are already enrolled via the main channel "fast track"
if the company want's to employ a trader, it just picks the best one out of them as there is a actual track record verified by the company itself.
in fact, since 2011 only 2 external traders were employed so far and they do not trade FX. all FX traders that have employment passes came from fast-track.
in short: you have to stand out ALOT in order to skip that barrier,
and if you do, the chances that you will work for EnFoid are very low as large US Prop firms and hedge funds have better deals.
this is simply because in FX the ease of access generates a massive flow of peoples that think they know something.
and there is only one way to verify this claim: giving them money, and that is a matter of risk management and not a matter of being nice to traders.
also, the majority of FX prop traders assume they doing the company a favor, some even refer to it like "EnFoid gets 50% of MY profits"
and this is exactly where things go bad.
about accounts: EnFoid HAS NO INTEREST IN SELLING TRADING EVALUATIONS!!
if you into this, there are firms that are cheaper and have better conditions, since EnFoid returns all past enrollment fees, a failing trader would be a major cost to the company, and not a profit like everyone seems to think.
Accounts smaller than 35k are technically a loss for the company where accounts larger than 400k pose a major risk if the trader is not well known.
just my 5 cents.
- | Commercial Member | Joined Aug 2014 | 3,646 Posts
{quote} most traders just try to avoid a time or financial commitment. this is usually made clear by the trader failing basic things like: properly introducing themselves on initiation having a CV having a reference (which is made VERY clear on the website that this is required) being proactive (as this is required in a professional trader to be able to manage themselves) instead almost all inquiries do have the sole aim to bypass the time commitments or skip the scaling process. usually this does comes along with generic queries showing clearly...
that said, your implication of me not doing what supposed to, is uncalled. bcos it happens to be you Mario who your secretary was referring to.
so either she missed to follow up, or you "dont give a shit" (
your words) about finding traders the way you so vehemently stating now! lets just look the facts; better than to talk down on me in an "ego-driven" way what i cant agree or disagree about social media since i dont use...
still think i was not polite, not get a promise from Enfoid support...and promptly Enfoid was missed to follow up on their words?
do you think a trader should beg to be talked to?
i dont know much more about the company but what the website says, and what i have contact with your support.
intead of your harsh and baseless judging here, just look the fact.
then tell what would you think, would you want to push yourself on a company that "dont give a shit" about a potential trader?
the secretary maybe made a mistake, but you sir didnt help the case neither.
when you calmed down, i would be open to meet in Bangkok when it suit you, and maybe buy you the first drink?
cheers
there is always, always another trade!!
well gladly I can search partials from your screenshot, in the backoffice system, so now i know who you are
everything I wrote still stands, i get messages like this literally every day. (most of them are answered by Daniel, Lim or myself)
i'm sorry if you feel misstreated, but the fact is that about 97 out of 100 messages of this type are from peoples that just want to skip fast or free track.
and yes, most of them are ignored.
my apologies for Diana providing you any hope by pointing out that i myself live in your proximity i guess she was jhust trying to be nice to you.
everything I wrote still stands, i get messages like this literally every day. (most of them are answered by Daniel, Lim or myself)
i'm sorry if you feel misstreated, but the fact is that about 97 out of 100 messages of this type are from peoples that just want to skip fast or free track.
and yes, most of them are ignored.
my apologies for Diana providing you any hope by pointing out that i myself live in your proximity i guess she was jhust trying to be nice to you.
- | Commercial Member | Joined Aug 2014 | 3,646 Posts
well gladly I can search partials from your screenshot, in the backoffice system, so now i know who you are
so my apologies for expecting no more or less from others, Diana, or otherwise.
i wasnt looking for hope, since i said in the mail i am pretty sure i can tick most of those requirement boxes, track record length, volume, average equity size...
i was looking for more info about a particular program, to find out if the conditions would fit or not to persue futher.
i wasnt looking to free track or fast track; the enquire was clearly about the "pro" option..
as for the location, i am 160km away from Bkk, so it isnt a walk to the next corner, and it isnt that if the conditions are right i couldnt hop on a plan to Singapore ( well, not with the virus now anyway, though Bkk is still a reasonable drive).
and finally, of course i edit out my full email cos it isnt public.
however, still helps to get some facts straight in the current form.
there is always, always another trade!!
- | Joined Jun 2019 | Status: Member | 151 Posts
As I understand the rules, I think there is only one advantage.
You can get all fees back, even if you fail the evaluation.
Disadvantages:
Minimum 10 trading days per month. That is, they do not want swing traders.
I may be wrong, but I think I read somewhere on their website that there is a rule that you must be positive 50% of the days in the month. Even if you end the month at a profit, you cannot have more days of defeat than of victory. This is so stupid.
You can get all fees back, even if you fail the evaluation.
Disadvantages:
Minimum 10 trading days per month. That is, they do not want swing traders.
I may be wrong, but I think I read somewhere on their website that there is a rule that you must be positive 50% of the days in the month. Even if you end the month at a profit, you cannot have more days of defeat than of victory. This is so stupid.