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  • #441
  • Apr 18, 2021 6:19pm Apr 18, 2021 6:19pm
Quoting Koop
{quote} Haha this is sickening. A small retail shop? And people on Facebook actually paid these people money. Can't blame them though, I almost did too before I made my findings. I have a feeling these scam firms are gonna rip people off and involuntarily drag in some serious regulation into the remote/online prop trading domain. I don't know if this would be a good or bad thing in the long run, but I don't believe the good offers from the good firms would remain the same with too much limiting regulations
That's why we need to police it ourselves. We need to increase the popularity of this thread. Any firm, new or old, one is thinking of joining, should be posted here, we can share experiences if we've used them or help with the due diligence if nobody has ever used them. Competition is great for all of us, as the offers from the older firms will get better to keep up with the newcomers, but nobody should be blindly joining without due diligence.
  • #442
  • Apr 18, 2021 7:58pm Apr 18, 2021 7:58pm
Quoting pipmaster77
{quote} That's why we need to police it ourselves. We need to increase the popularity of this thread. Any firm, new or old, one is thinking of joining, should be posted here, we can share experiences if we've used them or help with the due diligence if nobody has ever used them. Competition is great for all of us, as the offers from the older firms will get better to keep up with the newcomers, but nobody should be blindly joining without due diligence.
Excellent.

This was precisely the intention of creating such a thread.

Masterrmind ........
Master your Mind then Master your Trades
  • #443
  • Apr 19, 2021 12:53am Apr 19, 2021 12:53am
Instead of finding a better prop firm why don't you talk about best ways to pass evaluation procces on FTMO she is proved that pays and things like that..... these empty search!?
  • #444
  • Edited 5:36am Apr 19, 2021 3:03am | Edited 5:36am
Statement from an executive of Lux trading regarding Jessica Gharney of Funding Talent's "we all do it" play --

Sorry I couldn't copy and paste as it's a comment on YouTube and I'm on mobile..

EDIT = Just got on my computer so i've managed to copy the text -

"Robert J. Teuwissen Fri, Apr 16, 6:02 AM (1 day ago) to me

Hi Blake, After the comments, we read from one of your follower (Ben) that we offer live accounts and we cover the 4% risk of the traders by the liquidity provider, we were surprised that traders did not believe this or that traders all think that the fees cover the liquidity for the winners! After that you show us, the video he referred to THE TRUTH ABOUT FOREX PROP FIRMS: Funding Talent - FTMO - The5ers - The Prop Trading - MyForexFunds we like to clarify a couple of points from our view:

First, we would like to say that we can't speak for other prop trading firms other than ourselves. This Frank states that there is a difference between the real prop trading firms and the online prop trading firms. We think he better says the names of the online prop trading firms he meant because not all the online prop trading firms work or have the same business, earnings, or payout model as what the CEO of Funding Talent states. We can only say that this is not our business, earnings, or payout model and that we basically work like any other traditional prop trading firm, only with an adjustment to the new way of recruiting traders by getting them through the internet.

It is so much easier to find traders this way, especially now when everybody can do it from home instead of them traveling to the office downtown. This automatically raises the problem for a prop trading firm that they can't use the traditional way of trader selection and giving them proper training (like Frank in the video refers to). But after we have seen the recent years what the new way of online prop trading can do for selecting traders and that traders are willing to pay a one-time or monthly fee in order to show their skills on a demo account, and that those fees cover the costs of operation. We have seen this as the perfect new way to find talented traders. So, this does not mean that every online prop trading company is doing the same as the CEO of Funding Talent is saying or as Frank says how the real prop trading firms work as they adjust and changing as well with the new time of online recruiting.

So, we can say that we use the new online prop trading recruiting way to find talented traders to test and train them before we give a large-sized trading account to trade with. As Frank said in his video that in the old prop trading firms you had a long selection before you could even start. We agree with that, this was and still is the way we work now. It takes at least 3 months to get to the fully funded account stages what is similar to what the old prop trading firms did. We give them similar trading rules and risk management as in the old days the only difference now is that we can get much more traders at the same time from all over the world with the same selection criteria and training, which was not possible at that time.

The statement made by the CEO of Funding Talent that no online prop trading firm that accepts US/Canadian or UK clientele are authorized to give direct access to a live account without regulation does not apply to us. Lux Trading Firm (CH) is the proprietary trading division of Quanify GmbH which is registered in Zug, Switzerland under UID: CHE-217.611.963. LEI number: 9845000A7JB2E49BB988. Quanify GmbH is an affiliate of the Association of Financial Service Providers (OFD), recognized by the Federal Department of Finance (FDF). Quanify GmbH is a registered member and subject to the supervision of the Association Romande des Intermediaires Financiers (ARIF) no.: 3285, a self-regulated organization recognized by Swiss regulator FINMA. This means we are allowed to look for talented traders for our prop trading division or our asset management trading division regardless of where they are located.

So, we offer our traders who signed up a small live account (after the demo evaluation stage) the so-called: ‘’first funded stage’’ and after passing this they’ll get a live account in the fully funded stages. We hope that your traders would like to try our program that takes a little bit more patience and long-term thinking with ultra-high account sizes compared to the other prop trading firms out there. You’ve asked us for proof of payments to traders, this is not possible to show to the public as we are tight to very strict GDPR rules in the EU and since we're licensed under Swiss regulation this makes it even harder to show.

At the same time, we also think this is an odd request to ask a regulated asset management company with a prop trading division if our traders receive their share from us. As the new generation prefers to share everything online, then you already would've found out if we did not pay out our traders. You all know that this would be all over social media. We do now understand why this question was asked us by traders after the statement of the CEO of Funding Talent explaining that the signup fees will be used to pay the winning traders. This will still not change our point as a company that we can't show this to the public but if any of our live traders feel free to show this then they are always allowed to share this with you, only we can't ask or force them to do this. O

n behalf of the partners, Kind regards,

Robert J. Teuwissen Head of Trading - Managing Partner "



What y'all think?
  • #445
  • Apr 19, 2021 4:59am Apr 19, 2021 4:59am
Quoting Koop
Statement from an executive of Lux trading regarding Jessica Gharney of Funding Talent's "we all do it" play -- Sorry I couldn't copy and paste as it's a comment on YouTube and I'm on mobile.. {image}{image}{image}{image}{image}{image} What y'all think? {image}
Hi Koop.
Can you please (later when you can) publish the internet address? At least I can translate it.
Thank you
I've seen things you people wouldn't believe
  • #446
  • Apr 19, 2021 5:37am Apr 19, 2021 5:37am
Quoting Trader-IT
{quote} Hi Koop. Can you please (later when you can) publish the internet address? At least I can translate it. Thank you
Hey Man, sorry about that. I just reposted the information in text form.
  • #447
  • Apr 19, 2021 5:38am Apr 19, 2021 5:38am
Anyone got through Enfoid? Any comments.
on a postive roll...
  • #448
  • Apr 19, 2021 5:46am Apr 19, 2021 5:46am
Three things stand out with all these funded trader firms.
1. 4% DD is almost impossible for the average trader, let alone the proficient traders.
2. I would avoid ANY prop' firm with a "Daily" DD rule. It is the killer for almost all. To my mind it is a deliberate ploy to ensure a high failure rate.
3. No holding trades over night and/or weekend. Another ploy to eliminate most traders. The excuses bandied about by the prop' firms to disallow this is laughable.
Look Left Trade Right
  • #449
  • Apr 19, 2021 5:51am Apr 19, 2021 5:51am
Quoting Basill
Three things stand out with all these funded trader firms. 1. 4% DD is almost impossible for the average trader, let alone the proficient traders. 2. I would avoid ANY prop' firm with a "Daily" DD rule. It is the killer for almost all. To my mind it is a deliberate ploy to ensure a high failure rate. 3. No holding trades over night and/or weekend. Another ploy to eliminate most traders. The excuses bandied about by the prop' firms to disallow this is laughable.
Imho, DLL is most cardinal rule of all to let us live another day.
on a postive roll...
  • #450
  • Apr 19, 2021 5:54am Apr 19, 2021 5:54am
Quoting Basill
Three things stand out with all these funded trader firms. 1. 4% DD is almost impossible for the average trader, let alone the proficient traders. 2. I would avoid ANY prop' firm with a "Daily" DD rule. It is the killer for almost all. To my mind it is a deliberate ploy to ensure a high failure rate. 3. No holding trades over night and/or weekend. Another ploy to eliminate most traders. The excuses bandied about by the prop' firms to disallow this is laughable.
I will add a 4th.
Relative DD versus initial acc' balance DD. Another deliberate ploy to ensure a high failure rate. If they were serious about finding top trading talent this rule would not exist.
Look Left Trade Right
  • #451
  • Edited 6:50am Apr 19, 2021 6:25am | Edited 6:50am
@pipmaster77
I was little suspicious about your comment about prop firms with 4%DD and that it is more profitable to use fee and trade it in personal live account. So I decided to do proper calculations to convince myself. Here are the numbers (I hope I haven't made any mistakes). I'm using CTI $70K account as an example.

Result = you were right, 2x growth plan is amazing marketing tool.

I hope this will help others to make it easier to visualize the comparison between choosing this particular prop model and using fee in your own personal live account.

Attached Image (click to enlarge)
Click to Enlarge Name: CTI vs Real.png Size: 45 KB
  • #452
  • Apr 19, 2021 7:02am Apr 19, 2021 7:02am
Quoting Koop
Statement from an executive of Lux trading regarding Jessica Gharney of Funding Talent's "we all do it" play -- Sorry I couldn't copy and paste
Looks like you may have found the best one Koop. Still only 4% DD allowance but less silly rules than most. & better value for money than any other that I can see.
Look Left Trade Right
  • #453
  • Apr 19, 2021 7:09am Apr 19, 2021 7:09am
Quoting Basill
{quote} Looks like you may have found the best one Koop. Still only 4% DD allowance but less silly rules than most. & better value for money than any other that I can see.
If fee is greater than max loss offered, see post above.
  • #454
  • Apr 19, 2021 7:11am Apr 19, 2021 7:11am
Quoting Basill
{quote} Looks like you may have found the best one Koop. Still only 4% DD allowance but less silly rules than most. & better value for money than any other that I can see.
I don't know man, any firm offering 4% DD allowance could never be best in my eyes. It's just too limiting IMO.
But there's something soothing/satisfying about how they present themselves even though much of it is unverifiable.
  • #455
  • Apr 19, 2021 7:26am Apr 19, 2021 7:26am
Quoting Koop
Statement from an executive of Lux trading regarding Jessica Gharney of Funding Talent's "we all do it" play -- Sorry I couldn't copy and paste as it's a comment on YouTube and I'm on mobile.. EDIT = Just got on my computer so i've managed to copy the text - "Robert J. Teuwissen Fri, Apr 16, 6:02 AM (1 day ago) to me Hi Blake, After the comments, we read from one of your follower (Ben) that we offer live accounts and we cover the 4% risk of the traders by the liquidity provider, we were surprised that traders did not believe this or that traders...

Its just another in the long list now of people who have proved Jessica to be a liar. But, this won't stop her from reporting them to the regulatory agency like she has been doing to all her competitors since she released that statement. Someone "anonymously" from her team offered me a kick back if I reported one of her competitors to the regulator.
I think its time we throw that company in the bin. Bye felicia.
  • #456
  • Apr 19, 2021 7:47am Apr 19, 2021 7:47am
Quoting Takisd
{quote} Its just another in the long list now of people who have proved Jessica to be a liar. But, this won't stop her from reporting them to the regulatory agency like she has been doing to all her competitors since she released that statement. Someone "anonymously" from her team offered me a kick back if I reported one of her competitors to the regulator. I think its time we throw that company in the bin. Bye felicia.
That company was shady from the get go. This solidifies it.
  • #457
  • Apr 19, 2021 7:52am Apr 19, 2021 7:52am
Quoting Masterrmind
{quote} Excellent. This was precisely the intention of creating such a thread. Masterrmind ........
Just an idea.

What if you updated #post 1 with the list of prop firms. There would be list for prop firms that are 'community approved', 'under observation' and 'community rejected'.
Example: FTMO would be under 'community approved' but MyFxSeed/MyForexFunds would be 'under observation' waiting for more payout proofs.

The list would not be reflection of quality of prop firm model but more about finding valid stable businesses. It's up to each individual trader to decide, which model is suitable for his/her circumstances.
  • #458
  • Apr 19, 2021 8:38am Apr 19, 2021 8:38am
Quoting endgame99
{quote} Just an idea. What if you updated #post 1 with the list of prop firms. There would be list for prop firms that are 'community approved', 'under observation' and 'community rejected'. Example: FTMO would be under 'community approved' but MyFxSeed/MyForexFunds would be 'under observation' waiting for more payout proofs. The list would not be reflection of quality of prop firm model but more about finding valid stable businesses. It's up to each individual trader to decide, which model is suitable for his/her circumstances.
Ohh yeah that sounds as a good way to collate all the information that we're getting from the thread!
  • #459
  • Apr 19, 2021 9:29am Apr 19, 2021 9:29am
Quoting endgame99
{quote} Just an idea. What if you updated #post 1 with the list of prop firms. There would be list for prop firms that are 'community approved', 'under observation' and 'community rejected'. Example: FTMO would be under 'community approved' but MyFxSeed/MyForexFunds would be 'under observation' waiting for more payout proofs. The list would not be reflection of quality of prop firm model but more about finding valid stable businesses. It's up to each individual trader to decide, which model is suitable for his/her circumstances.
Sounds great.
  • #460
  • Apr 19, 2021 10:04am Apr 19, 2021 10:04am
mess and banter is more fun than organized lists that won't satisfy everyone and cause fighting and other crap. I have found in this prop firm market that if someone is trying to use one company, they will defend them to the death, like people using theproptrading. Its so clearly a junky company at the very best and was from day 1 and still people defend it despite all the multiple claims of malpractice.

Fundingtalent is like a cult. Girl comes out, lies to everyone, throws in the industry under the bus and people still defend her to the death and now create the acceptance that its ok for a company to bucketshop. Man, I wish when I used to have a broker that it was ok to just bucket everyone and publicly state "HAHA GUYS IM JUST BUCKETING YOU".. but here we are today... Also, boobs.

So on so forth.

Lets just keep this shit banter like report when we see something and let people make their own uneducated choices so as to not start having a paulMF scenario here.
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