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  • #1
  • First Post: Edited 3:30pm Jan 3, 2021 3:00pm | Edited 3:30pm
Hey folks just want to make a post about a funding program that I have been on and may be of some interest to some of you. We know there are many online "prop" firms such as blu fx ftmo 5%ers etc etc and lets be honest they are not easy. One will have limited leverage which will make it difficult to reach targets others will make you do challenges. An also don't forget the recurring fees..

I started with https://fotistradingacademy.com/fta-incubation-program/ This was set up by my mentor and his business partner. There is no complex rules or trials etc

The way it works is as follows

they have 2 programs incubation for deposits of $1-5k and acceleration deposits of 20k and upwards

The incubation program (which I am on) the company gives 4x your deposit. SO with my 1K deposit the company gives 4k and i have a 5k account to trade.

The acceleration differs i don't have too much info on this but i think they match your deposit but funding can go up to 200k-500k for talented guys,

PROFIT SPLIT
50/50 First 3 months then 70/30. You get paid quarterly

TRADING RULES
30% Drawdown

LEVERAGE
1:100

You will require a minimum of 3 months LIVE AND VERIFIED TRACK RECORD. I also think a call is set up between yourself and one of the the guys who set this up. Or you take up some coaching from them.

I think this is an excellent program. You are not forced to trade under any time limits, any strict drawdown rules or to reach any target. Trade freely without any pressure (apart from the generous 30% dd) as it should be ..

Any questions don't hesitate to ask. I am due my first profit split tomorrow and my account will be increased to $10k
  • #2
  • Jan 4, 2021 2:59am Jan 4, 2021 2:59am
Hi
I have an EA which works great and I need funds to run it, I have live results but for some reasons I had to withdraw the funds and use it so I need to restart it.

lets team up and fund the account, please message me back and we can discuss.
Allergic to bullshitters, never argue with fools
  • #3
  • Jan 4, 2021 3:06am Jan 4, 2021 3:06am
Quoting Muhammedfx
Hi I have an EA which works great and I need funds to run it, I have live results but for some reasons I had to withdraw the funds and use it so I need to restart it. lets team up and fund the account, please message me back and we can discuss.

you still should have your results ... withdrawing funds don't alter your trading record
  • #4
  • Jan 4, 2021 3:24am Jan 4, 2021 3:24am
Quoting allinazi
{quote} you still should have your results ... withdrawing funds don't alter your trading record
offcourse I have it, verified and complete.

contact me on messenger
Allergic to bullshitters, never argue with fools
  • #5
  • Jan 4, 2021 4:01am Jan 4, 2021 4:01am
As you mentioned..deposit 1k. Total will get $5k.
So 30% drawdown is based on 5k and not 1k.
I hope not the 1k...if 1k. That would be 300.
If got hit by dd...that mean 700 is gone.

Drawdown based on high water mark or fixed amount.
Care to elaborate here
  • #6
  • Edited 4:26am Jan 4, 2021 4:14am | Edited 4:26am
Quoting jinsen
As you mentioned..deposit 1k. Total will get $5k. So 30% drawdown is based on 5k and not 1k. I hope not the 1k...if 1k. That would be 300. If got hit by dd...that mean 700 is gone. Drawdown based on high water mark or fixed amount. Care to elaborate here

Hi yes 30% based of 5k... dd based of high watermark I believe

im looking through the agreement the following is stated

1. Definition For the purpose of this Agreement, the following shall mean; Account – shall mean the Incubation account with MYFX MARKETS in the name of FTA Incubation Account which on the date signed of this Agreement shall be opened with Client deposit of 1000 USD to 5000 USD and FTA´s partner funding of x4 the Client deposit. Account will have a maximum drawdown set at 30% with Client funds acting as first loss amount.

The account will have a maximum drawdown of 30% from start applied, which if reached will result in the closing of any open positions and also the closing of the account. Client funds will act as first loss however Client will not be responsible for any loss over the amount of their initial deposit. .
  • #7
  • Jan 4, 2021 4:52am Jan 4, 2021 4:52am
1. Definition For the purpose of this Agreement, the following shall mean; Account – shall mean the Incubation account with MYFX MARKETS in the name of FTA Incubation Account which on the date signed of this Agreement shall be opened with Client deposit of 1000 USD to 5000 USD and FTA´s partner funding of x4 the Client deposit. Account will have a maximum drawdown set at 30% with Client funds acting as first loss amount.

there, the important part.
they allow 30% of the 5000$ to be lost, but your own 1000$ will be 100% lost in that case.
ie. you put 100% of your own funds at risk of loss.
the firm extend it with 1/3rd ( 500$)...for half your upside.

how is that better vs.
- your own money at 2x risk ( to compensate for the 50% profit share!)
- your max downside would be 2x 30% =-60% ( vs 100% up to 1000$! loss trading with the firm)
- instant access to your profit at will ( not quarterly payout)
- your selected broker with the best conditions to suit your needs, including a chance for a commission rebate
- no hoops and loops to jump whatsoever.


for what @gerardineFX asked:
"Suppose I have a track record but it isn't with the brokers this firm is in partnership with, would that work? I never understood why the track record has to be with the partner brokers."

they more than likely act as an IB, so you qualify or not, they receive commission from whatever # of lots you trade...while you, solely will pay for the higher standard commission out of your pocket BEFORE any profit spit( see above broker selection)

in the end, once summarize, even with some upside thrown in, what would you stand to gain as a "new job" with 5k or even 10k funds, and a quarterly payout, where on top 100% of your money at risk, being the first to dedect the loss from?

but it is a great potential business.
just not really for the trader, that is.
best of luck!
PF
there is always, always another trade!!
  • #8
  • Jan 4, 2021 5:08am Jan 4, 2021 5:08am
Quoting profitfarmer
1. Definition For the purpose of this Agreement, the following shall mean; Account – shall mean the Incubation account with MYFX MARKETS in the name of FTA Incubation Account which on the date signed of this Agreement shall be opened with Client deposit of 1000 USD to 5000 USD and FTA´s partner funding of x4 the Client deposit. Account will have a maximum drawdown set at 30% with Client funds acting as first loss amount. there, the important part. they allow 30% of the 5000$ to be lost, but your own 1000$ will be 100% lost in that case. ie. you...


The track record does not have to be with the broker but can be with anyone. just needs to be live or verified.. talking to the guys who set it up they don't just want any cowboys jumping in (and i guess its a bit of an incentive if people take their training). I understand your point if you have your own capital (obviously that is the best) but in my eyes if i can start with 1k make money re invest and get up to 25k on the incubation program will be done a lot quicker than have to turn over my account (as for every 1k i get 4k from them ). and i will be able to have a 25 k account with 1k investment providing all goes well.



so this is an email i received hopefully will help why someone may chose this



If he decides to continue with the incubation program

The profits are distributed as per the agreement on a quarterly basis.

After this happens, he can add another $1K and he will get another $8K, so he will have $10K to trade. He will be entitled to keep 70% of the profits.

On a quarterly basis, after profits are distributed, he can add an amount between $1K to $5k and he will have more funds to trade.

As he has good statistics, they can give him up to x5 times his funds, for deposits between $1k to $5K.(that is an increase of the x4 )

So he will have max $25K to trade for every quarter, with a 70% profit split in his favour.


If he is going to join the Acceleration

1) He funds his account with $20K and then they give him another $20K.

If he does well, they could give him x5 times allocation within 6 months, so he will have $100K to trade.


2) Let's say he doesn't have $20k. They can consider funding him, so he has the $20K required.(see below)

If he has $10K, they will give him another $10K so he can start. But this will happen for selected cases that are really doing well.
If the trader has return/drawdown>2 after 3 months, they will add 2 more units to allocation and do that again after 3 months. The goal is to reach $100K within 6 months.


More funds

They can fund a trader with even more capital like $200k, or $500K or more however they do not want to formally say they will go that high and they would like to judge the performance and the person when the time comes.
  • #9
  • Jan 4, 2021 5:13am Jan 4, 2021 5:13am
Quoting GeraldineFX
A few questions: 1. I could put up $1,000 in my own account that has 1:500 leverage and achieve the same kind of trading capacity. 2. Suppose I have a track record but it isn't with the brokers this firm is in partnership with, would that work? I never understood why the track record has to be with the partner brokers. 3. It is interesting the partner brokers aren't listed/or did I miss it? If so, come on, more clarity! 4. You claim you are due for your first profit share tomorrow, but this firm has a 3 months payment cycle. {quote} I looked at...

2. yes any live verified record is fine
3. broker myfxus
3. I started mid quarter and pay outs are paid out per calendar quarter and not date of account opening

The advantage this has you have no targets to hit,,
example blu fx u need to hit 5% with 1:3 leverage to withdraw at 50/50 (and recurring fees)
ftmo you need to pass tests before funding
5% ers low drawdwon

I have posted a screen shot of the front page of my agreement which started in august i was the 1st one on the program

APPENDIX A Services a) The Client will open an account with MYFX Markets and deposit funds between 1000 USD and 5000 USD. Any profit share earned will be paid into this account.
b) After instructing MYFX Markets of the wish to join the Incubation Program, MYFX Markets will transfer funds into the “FTA” (FTA Incubation Promoter´s) Incubation Program Omnibus account from which the Client will be given MT4 account credentials for an account with a Balance of x4 the initial deposit.
c) The account will have a maximum drawdown of 30% from start applied, which if reached will result in the closing of any open positions and also the closing of the account. Client funds will act as first loss however Client will not be responsible for any loss over the amount of their initial deposit. .
d) The Client will be entitled to 50% of the profits and Fotis Trading Academy 10% of the profits, for the first full calendar quarter of trading And The Client will be entitled to 70% of the profits and Fotis Trading Academy 10% of the profits (after the end of the first full calendar quarter of trading
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  • #10
  • Jan 4, 2021 5:24am Jan 4, 2021 5:24am
Interest of transparency you can see below $977.04 taken out of my account today 50/50 split will make it $488.52 which u can see form mt4

the next picture shows my myfx intenal hub a balance of 1488.52

$1000 which i have will use to get and extra 4k so the account will go up to to 10k today or tomorrow (so that 1k will leave my "internal hub" and will be left with the 488.52)

$488.52 which is my profit split
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  • #11
  • Edited 6:19am Jan 4, 2021 6:04am | Edited 6:19am
Quoting GeraldineFX
{quote} Wow, now that you put it this way, it is obvious this firm is out to swindle people with their smart wording and projections! Thanks profitfarmer! I understand the part about them being introducing brokers, but to me, why would they reject a trader with a sound track record to be their prop trader if there is no funny business? Moving forth, I would still be trading on their partnered brokerage firm, so they still earn the commissions. I was rejected by another prop trading firm saying that I have to pass their test on their partner broker....


thats a simple calculation which is no real surprise you will lose your money first:

you pay Blu fx 4 months subs where is that money coming from yourself ... say you don’t hit 5% target your down 1k of your own money

What if you fail trials by ftmo or 5% ers where does that money come from
?


now in my case it has cost me little over 1k and I will have 10k ...account next quarter that maybe 15/20/25k account who knows or maybe I hit my 30% DD
BUT IT STILL only cost me 1k

and the reason it still has only cost me 1k is beCause I’m re investing my profits back in to program for more funding

if I didn’t do that this would now cost me nothing

in any instance I will update of progress here and additional funding let’s see where it takes me
  • #12
  • Edited 4:27pm Jan 4, 2021 4:15pm | Edited 4:27pm
JUST to confirm i have received my next 5k funding so account is now over 10k

SO basically i have re invested that initial 1k. Using the profit split and a little top up now i have 10k account.

I will not be putting any more money in to and will like to use my 1k ish deposit to get more funding by re investing profits

and hopefully if I can get to the top of the incubation program which is 25k i can withdraw and have 25k account for no cost to me
  • #13
  • Jan 4, 2021 5:50pm Jan 4, 2021 5:50pm
It looks confusing. Not sure what will be the growth plan. Also why quarterly withdrawal? Why not monthly?
How it is different from https://funded-traders.com/
I get that 30% drawdown but it will be interesting if they give 100K account with such withdrawal.
Drawdown in percentage looks good on small account but its different story for larger accounts.
  • #14
  • Jan 4, 2021 6:39pm Jan 4, 2021 6:39pm
Quoting sampat
It looks confusing. Not sure what will be the growth plan. Also why quarterly withdrawal? Why not monthly? How it is different from https://funded-traders.com/ I get that 30% drawdown but it will be interesting if they give 100K account with such withdrawal. Drawdown in percentage looks good on small account but its different story for larger accounts.

Hi I don’t know why quarterly then work everything like that Q1-Q2-Q3-Q4

im the first person in the program so I don’t know anyone else on the program ... I think if there’s vast number of traders who are adding more funds etc it would be easier to do at once I.e end of Q1 and so one

the growth plan varies if you are on incubation or acceleration phase .

incubation is for people with low deposit 1-5k max deposit and they give you 4x but u could essentially deposit 1k and then deposit 1k next quarter if you wanted bit like what I did and used my profits for last quarter to get another 4k from them so now I have 10k acc that cost me 1k.


I just had a brief look at funded traders so of course you get more draw down here and you don’t have to pass anything

But anyways looking at Funded traders with 1000 deposit so Keep it the same as this

you get 50k acc TRIAL first with only a 4% DD LIMIT and a target 10% DD and you have to generate 3-6 months data !!!
how many people do you think pass when you can only lose 4% how are the odds in a traders favour which such limited drawdown ... and when is target hitting part of trading it should be a case you trade take your time and get paid end of month end of quarter whatever and no stress with targets etc. ALSO once funded you need hit targets to double accounts here no targets make your money either take out add some more get more funding. I know they keep an eye on results especially for the higher funded

With the people I am with they look at your trading record to get in ... they want proven guys not YOLO traders ... hence the filter of the track record .. and if it’s fine you put some money in and they give u more And take your cut every quarter you want to increase AUM add some
more money they will add also

my plan is to keep going and hopefully set up a decent record with them and push them to give me 50-100ketc funding
  • #15
  • Jan 5, 2021 12:37am Jan 5, 2021 12:37am
Quoting sampat
It looks confusing. Not sure what will be the growth plan. Also why quarterly withdrawal? Why not monthly? How it is different from https://funded-traders.com/ I get that 30% drawdown but it will be interesting if they give 100K account with such withdrawal. Drawdown in percentage looks good on small account but its different story for larger accounts.
the quarterly withdrawal serve the firm.
most accts, funded included, tend to make a random larger loss time to time.
statistically, even funded traders rarely get beyond 3 month, based on that the monthly payout wouldnt suit the firm's best interest...ie avoid paying first, then the trader lose.
as for the -30% dd, the reality is, as explained in an earlier post ( based on what clearly stated on their site): the firm actually risk only -10%.
the first -20% of any loss comes out directly from your own funds, exclusively.
any acct, your good looking dd% imply the same: the first 2/3rd of all allowed dd comes from your own pocket.
covering 66% of all downside (drawdown + 100% of the trading cost vs. 50% of the upside (profit)

dont take it wrong, it is great to have options.
the reality however that neither 1k nor 5k equity will make a huge impact, especially if only can access your profit split quarterly.
neither equity base will be a sure way to kick your old job away.
and it is a reality that most accts, even the profitable, dont have a very long 'lifespan', for various reasons. it is an industry fact.

i dont write this to put down or argue about this specific firm, just as an in general post about the less shiny side to be aware of, too.
there is always, always another trade!!
  • #16
  • Jan 5, 2021 1:48am Jan 5, 2021 1:48am
Quoting profitfarmer
{quote} the quarterly withdrawal serve the firm. most accts, funded included, tend to make a random larger loss time to time. statistically, even funded traders rarely get beyond 3 month, based on that the monthly payout wouldnt suit the firm's best interest...ie avoid paying first, then the trader lose. as for the -30% dd, the reality is, as explained in an earlier post ( based on what clearly stated on their site): the firm actually risk only -10%. the first -20% of any loss comes out directly from your own funds, exclusively. any acct, your good...

the points you make are valid..

I Was trying to give an alternative to likes of ftmo blu fx 5%ers .....i believe those firms really have unrealistic trading parameters..

blu fx for example 10% dd , 1:3 leverage and you must make 5% to withdraw plus £250 recurring fees
ftmo just must pass a 2 step challenge ( and 1st part 30 days to complete which i completely disagree with never should be a time limit on trading)
5% ers i think its around 4 % dd

yes in this program the loss is 100% yours first, but i see that as the same as paying maybe blufx for 4 months , failing a couple of challenges with ftmo and 5Eers
but you are correct to dig in to the nitty gritty of the numbers and what you ACTUALLY get
  • #17
  • Jan 17, 2021 7:11am Jan 17, 2021 7:11am
You used to have a TE loaded claiming it is the associated account but it has been removed, I wonder why.
  • #18
  • Jan 17, 2021 7:28am Jan 17, 2021 7:28am
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"Money makes Money"
  • #19
  • Jan 17, 2021 7:42am Jan 17, 2021 7:42am
Quoting kCBHk
You used to have a TE loaded claiming it is the associated account but it has been removed, I wonder why.

ill tell you why

i have a private trade room where i call out my trades.... and i also stream online there was people who knew every position i was in ... so basically people were copying my trades and it was not fair on the people who pay me for that... and on ff there is no way to block it out ... the te is set to private but ill post the picture if you so desire

OR you can go to https://www.fxblue.com/users/am_trading AND SEE ALL RESULTS THERE ALSO
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  • #20
  • Jan 17, 2021 7:42am Jan 17, 2021 7:42am
Quoting syndicat
{image}


interesting you say that and i have shown you more proof than one can need..

deposits/withdrawals/contract information

so what is your "SCAM" POST ALL ABOUT
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