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Anyone trading with a Prop firm 4 replies

prop firm new model - my trading journey 871 replies

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

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Quoting Artcool
The 5ers Summer Plan is already out of stock…before even the summer starts
Is anyone able to register for this 5ers summer plan. If yes how did they go about it
Quoting ayoayo
{quote} Is anyone able to register for this 5ers summer plan. If yes how did they go about it
quite straight forward, sign up with all required details and they will send you the account info via email. but now out of stock, have to wait for them to open again. Upon completion of the 3 stages we are required to pay US$300 for the funded account which I think is 1 of the best deal now.
Quoting navk
{quote} Thanks, I can understand why you chose the top 3. No. 1 target profit 8 % & 4 %, + 80/20 profit share. Fee paid will be returned on successful completion of 2 weeks as funded trader. + Withdrawals every 2 weeks. No. 2 target profit 8 % & 5 % + 75/25 and 80/20 and 85/15 profit share + Bonus 2 % on evaluation ph. 1 + Bonus 4% on eval phase 2 + 12 % bonus on fee paid will be returned along with fee paid. Bonusses and fee paid will be returned on successful completion of first month as funded trader. Therefater 1 st month, withdrawals every...
Hi there

I'm new here and first like to say thank you all for your very informative posts!

Maybe I can add some helpful informations on your top ranked prop firms:

1. FT: scaling up 25% every 3 month, if you are profitable 2 from 3 month with average a 2% return each month (makes min. 6% in 3 months) - which is good; does not pay out eventually profit, if you violate the daily dd-rule and lose your funded account - which is bad.

2. MFF: scaling up 30% every 4 month, if you are profitable 2 from 4 month with a return of min. 10% - which is good, but not as good as FT imo; does pay out 50% of eventually profit, if you violate the daily dd-rule and lose your funded account but have shown proper risk-management (e. g. always having a stopp-loss, etc.) - which is good.

3. TPT: scaling you up 25% every 3 month, if you are profitable 2 from 3 month with average a 2% return each month (makes min. 6% in 3 months) - which is the same as FT; couldn't find yet what happens with your profit, if you violate the daily dd-rule and lose your funded account. I'm waiting of a response and will add this info later...


If you can make 2% consistently every month, FT and TPT will scale your 50K funded account (FT = 2X25K) up to ca. 465K within 30 months. With MFF you can reach ca. 241K in the same time. With the same parameters, 5%ers and CTI will give you close to 1.3M; 5%ers summer plan will stay at 2M from 25K; Lux = 10M (if you can deal with the relative dd), by the way...

I think MFF is good for higher risk taking and if you need a bit more of a "behavioral buffer" (12% total dd, +30 days if can't hit the evaluations pt, 50% payout if you loose your funded account). FT and TPT are more straightforward imo

From a scaling standpoint the the programs which force you to take lower risk, such as 5%ers, CTI and Lux a clearly predominant - even, if it's harder to reach 2% each month with 0.3-0.4% risk per trade...


Have a nice week!

Greetings from Switzerland
Quoting navk
I am waiting to have my credentials for phase 2 eval since Thursday. Today morning MFF evaluation team sent email to say that my credentials will be sent before market open on Monday. I agree they are slow in account provisioning.
Mine took two days. They are adding staff just about daily. They have said the account provisioning will be 100% automated very soon. You will get your credentials pretty much immediately once that is complete.
Quoting mixedbags
{quote} quite straight forward, sign up with all required details and they will send you the account info via email. but now out of stock, have to wait for them to open again. Upon completion of the 3 stages we are required to pay US$300 for the funded account which I think is 1 of the best deal now.
same here, clicked on summer plan, put in details and hade account in like 10 minutes. From what I understand, they are out of stock right now, though.
5ers summer plan back up for now.

Emailed them asking when I'd get my phase 2 credentials for the summer plan. Ticket created will respond in 24 hours. 30 hours later I get an email saying ticket closed. 10 minutes later I get an emailed saying ticket opened will respond in 24 hours.

Seems they can't keep up with the surge of degenerate gamblers that are signing up for the summer plan. Clearly, support is overwhelmed. A good marketing plan to get traders on their site to sign up for the upfront fee programs. Revenue up, quality of customer service down. Well played 5ers.
Pride always comes before destruction.... -Proverbs 16:18
Quoting mixedbags
{quote} quite straight forward, sign up with all required details and they will send you the account info via email. but now out of stock, have to wait for them to open again. Upon completion of the 3 stages we are required to pay US$300 for the funded account which I think is 1 of the best deal now.

It's definitely better than whatever they had before and the selling point is great, delaying payment fee until you're successful and upping the Leverage to 1:10.

The real/only catch however is not having to pay to play from the start.

But still, 3 challenge stages aren't too much? it's 4% max DD on all stages?

As i said, 10x better than what their original program IMO (applied to try it out/waiting for credentials), but i think it's no. 4 or 5 on the top 5.
Delayed fee payment is not enough to sway me

Quoting Expo33
5ers summer plan back up for now. Emailed them asking when I'd get my phase 2 credentials for the summer plan. Ticket created will respond in 24 hours. 30 hours later I get an email saying ticket closed. 10 minutes later I get an emailed saying ticket opened will respond in 24 hours. Seems they can't keep up with the surge of degenerate gamblers that are signing up for the summer plan. Clearly, support is overwhelmed. A good marketing plan to get traders on their site to sign up for the upfront fee programs. Revenue up, quality of customer service...
Was just about to address that. Registered before it was out of stock and haven't heard back in over 3 days.
They just opened the flood gates for major traffic and "trial and error".
I hope they can keep up. It's a great plan but i don't know how feasible it is in the long run.
Quoting Mtinifx
{quote} I'm only doing FT challenge! Well just on Challenge accounts, taking everything into account I would rate: Funding Talent as Number 1 (because no minimum days to complete challenge and also bi-weekly payout when on funded stage) Myforexfunds as Number 2 FTMO as Number 3 The PropTrading as Number 4 (forget the rest IMHO!) FTMO need to up their profit split, lower the challenge profit target and offer bi-weekly payout then they will be on par with the others
I will consider FTMO over Funding talent, just because their pay out history seems to be good.

I will continue with MFF for one more challenge for 100k, then I shall get into FTMO.

By that time, most probably, they will have revised rules.
Intraday only.
Quoting Koop
{quote} It's definitely better than whatever they had before and the selling point is great, delaying payment fee until you're successful and upping the Leverage to 1:10. The real/only catch however is not having to pay to play from the start. But still, 3 challenge stages aren't too much? it's 4% max DD on all stages? As i said, 10x better than what their original program IMO (applied to try it out/waiting for credentials), but i think it's no. 4 or 5 on the top 5. Delayed fee payment is not enough to sway me {quote} Was just about to...
5% DD for the 3 challenges, if you complete it's 100K account with 4% DD for $300. Scaling every 5% up to 3 million. $300 for 4K DD is as good as any deal out there, 3 challenges is more than anyone else, but you are not paying anything upfront.
Quoting Koop
{quote} It's definitely better than whatever they had before and the selling point is great, delaying payment fee until you're successful and upping the Leverage to 1:10. The real/only catch however is not having to pay to play from the start. But still, 3 challenge stages aren't too much? it's 4% max DD on all stages? As i said, 10x better than what their original program IMO (applied to try it out/waiting for credentials), but i think it's no. 4 or 5 on the top 5. Delayed fee payment is not enough to sway me {quote} Was just about to...
Just a marketing ploy to get people on their website in hopes that they will sign up for the regular upfront fee programs. I'm sure they expect very few if any traders to make 10% 3 phases in a row without violating any of the rules.

A trader might tell themselves they are going to go slow and be super risk management-oriented for the summer plan but human nature says otherwise. If there is no risk to you then it stands to reason a trader will eventually trade with too much risk and blow up long before phase 3 is accomplished.

Recently the 5ers abolished their minimum trading days for their regular fee programs. Interesting, just go for it. Screw 10 days when you can go for it right now and get paid super quick. Uh-huh, sure that will happen.

Imo, they are all still chasing FTMO. Name another prop firm with a payout track record, instant account creation, and 24/7 customer support. Not some useless chatbot or "ticket" system.

Everyone seems to model their payout/drawdown structure to outdo FTMO but it seems most have dropped the ball as far as account creation and support.

CTI is a good example. Oooooo lookout for our new and improved funded programs. They can't even bother to make a trader's dashboard. Pathetic.

MFF, look at how much better we are than FTMO, our payouts and drawdown rules are so awesome. What's that? You just shelled out $600 and haven't gotten your credentials in 2 days? Just check your spam box, I'm sure it's there. No account automation, no chance I'll sign up with a company whose "CEO" couldn't look the camera in the eye during the Blake interview. You know the interview where he said he had an "IT" background and yet the website didn't work properly.

The 5ers dropping min trading days and adding the summer "everybody and their brother can come and gamble" program. But you still have 6 months to pass the regular challenge because we are looking for good traders. And don't worry if you have any questions, our chatbot will not only be happy to not answer your questions but it will automatically cancel your email ticket and create a new one so you can conveniently wait even longer for an answer.

Everyone is in a big rush to get their piece of the pie.

When I go to the store and hand someone my $$$, I want the product in my hands when I leave the store. When I have a question or problem I want it fixed quickly. Most prop firms can't do that right now. A minimal payout record is a good start but to get my money they'll have to do better.

Rant over, well at least for now
Pride always comes before destruction.... -Proverbs 16:18
Quoting Expo33
{quote} Just a marketing ploy to get people on their website in hopes that they will sign up for the regular upfront fee programs. I'm sure they expect very few if any traders to make 10% 3 phases in a row without violating any of the rules. A trader might tell themselves they are going to go slow and be super risk management-oriented for the summer plan but human nature says otherwise. If there is no risk to you then it stands to reason a trader will eventually trade with too much risk and blow up long before phase 3 is accomplished. Recently the...
haha love the rants.

You're right about that. FTMO set the standards that everyone else is currently trying to outdo with new seemingly "mouth watering offers".
It's great for us but like i meant to explain to Phenotype, it's going to take more than a bump in max allowed risk and reduction in profit targets to knock the top guys off their ranks.

I'm really eager to see how many manage to make it through the 3 stages with no money upfront... the gamblers can only gamble for so long and the offer is quite encouraging to gamble. However, it's sort of a breath of fresh air, something (on the surface) different from the regular challenge models.

Quoting pipmaster77
{quote} 5% DD for the 3 challenges, if you complete it's 100K account with 4% DD for $300. Scaling every 5% up to 3 million. $300 for 4K DD is as good as any deal out there, 3 challenges is more than anyone else, but you are not paying anything upfront.
Yes Pip, 4k DD for $300 on the funded account is a good deal. But aren't we looking too far ahead and ignoring the hurdles that come before the funded account?
On the regular challenges which we are used to we only have to make a total of 12-15% (depending on firm) in order to earn a funded account with a wide Max allowed DD of 10% per stage.

5ers summer plan is asking traders to make a total of 30% with a max DD of 5% per stage. It's even more tasking than the original package. making 10% 3 times consecutively.
And cost is not really the issue, 4% max DD is 4% max DD regardless of the cost of the program.

That scale up every 5% growth is sweet though.

I wish you all luck. Will join in once i get my credentials.
Quoting pipmaster77
{quote} Mine took two days. They are adding staff just about daily. They have said the account provisioning will be 100% automated very soon. You will get your credentials pretty much immediately once that is complete.
just received account details.
Intraday only.
Quoting Expo33
{quote} Just a marketing ploy to get people on their website in hopes that they will sign up for the regular upfront fee programs. I'm sure they expect very few if any traders to make 10% 3 phases in a row without violating any of the rules. A trader might tell themselves they are going to go slow and be super risk management-oriented for the summer plan but human nature says otherwise. If there is no risk to you then it stands to reason a trader will eventually trade with too much risk and blow up long before phase 3 is accomplished. Recently the...
Completely agree. FTMO is the gold standard. I do hope some of the others do work out, as the competition is good for all of us.
Quoting navk
{quote} I will consider FTMO over Funding talent, just because their pay out history seems to be good. I will continue with MFF for one more challenge for 100k, then I shall get into FTMO. By that time, most probably, they will have revised rules.
Look on FT Telegram channel as well as the "Forex Prop Firms" page on Facebook. Plenty of proof on there of FT payouts. From Myff too of course. Even from The PropTrading.

Good idea to spread your risk if you're doing well but I suggest that you finish verification and earn some money on the Funded stage from your present effort before thinking that you're king of the world!
Quoting Koop
{quote} haha love the rants. You're right about that. FTMO set the standards that everyone else is currently trying to outdo with new seemingly "mouth watering offers". It's great for us but like i meant to explain to Phenotype, it's going to take more than a bump in max allowed risk and reduction in profit targets to knock the top guys off their ranks. I'm really eager to see how many manage to make it through the 3 stages with no money upfront... the gamblers can only gamble for so long and the offer is quite encouraging to gamble. However, it's...
Yes, I think everyone knows how I stand on the 5%ers standard offerings. But, I figure, the summer program, just trade it small, no time pressure. I have my other accounts, so doesn't matter how long it takes. Hell, if they offered a 100K challenge with 4% DD for $300, I'd probably do that as well, if the time component isn't there. If I make it, can probably squeeze 2% monthly with a 4% DD. At that rate, 3-4 years to get to 3 million, but 2% profit with an 80% split is 48K monthly. Will I have the discipline to trade the tiny positions? Probably not lol.
Quoting navk
{quote} just received account details.
Lucky you mate.
they are still telling me they have resent, i have not received any email from My Forex Funds accounts in regards to my Accelerated account.
I keep getting emails from their support people telling me the accounts have sent the email, but i just done get the email from accounts.

I have copied them into a reply to support and asked that account reply to that email! maybe they have my email address incorrect on their end.

something so easy yet so frustrating.

geoff
Quoting pipmaster77
{quote} Yes, I think everyone knows how I stand on the 5%ers standard offerings. But, I figure, the summer program, just trade it small, no time pressure. I have my other accounts, so doesn't matter how long it takes. Hell, if they offered a 100K challenge with 4% DD for $300, I'd probably do that as well, if the time component isn't there. If I make it, can probably squeeze 2% monthly with a 4% DD. At that rate, 3-4 years to get to 3 million, but 2% profit with an 80% split is 48K monthly. Will I have the discipline to trade the tiny positions?...
Yea, I find the summer program a nice change of pace and very relaxing.

Who knows when or if I'll get my login credentials for phase 2. It's been 2 1/2 days since I finished phase 1. No credentials yet, no response from support either.

Chatbot is useless. It just links people to different areas of the website. So I guess it's good for those that are too lazy or stupid to find the info for themselves.

But then again how can one expect live support. It's not like this is a company offering millions of dollars in trading capital. Oh wait, they are.
Pride always comes before destruction.... -Proverbs 16:18
I'm going to start my own prop firm.

Requirements

1) Build sexy website

2) Interview with Blake from my closet in my 200 square foot apartment.

3) Start collecting fees

4) Accept award for prop firm "CEO" of the year
Pride always comes before destruction.... -Proverbs 16:18
Quoting geoffrod
{quote} Lucky you mate. they are still telling me they have resent, i have not received any email from My Forex Funds accounts in regards to my Accelerated account. I keep getting emails from their support people telling me the accounts have sent the email, but i just done get the email from accounts. I have copied them into a reply to support and asked that account reply to that email! maybe they have my email address incorrect on their end. something so easy yet so frustrating. geoff
Are you on their discord channel? Chat with someone in support there.
Quoting Expo33
I'm going to start my own prop firm. Requirements 1) Build sexy website 2) Interview with Blake from my closet in my 200 square foot apartment. 3) Start collecting fees 4) Accept award for prop firm "CEO" of the year
I would join your prop firm, but only because I've know you a few years.
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