Prop Firm Hub

hi folks
i have question example i pass MyforexFunds phase 1 and 2
and now officially pass,
but what happen i losing month ? example DD - 5% for that month ?

When you have a funded account nothing happens if you are losing 5% that month, provided that you didn't breach the daily max loss rule.

You will only lose your funded account if you achieve the max loss of 12%.

The whole day I was travelling and just got back to my home laptop.

I was doing little in Cell phone.

This is end of day 4 - phase 2

Just curious.

Any update re the ditto.trade "demo account accelerator" option?

Or is this now off the table?

okay example i lose 2 month in the row 5% will i lose my account ?
or the main point is maximum loses no more than 12% from the account ?

regard

If you start with a 100K account and lose 5K in first month, then another 5K in second month, you are -10K in total (10% from the begging).
The account is now 90K.
You will lose the account if it goes below 88K (-12% from the initial 100K)

This is assuming you respected all the other rules (daily loss and not prohibited strategies)

The Funded Trader already had some indices restriction in the past when entering the orders:


Now they halted indices trading to sort out problems.

Dear Trader,

Over the last two weeks we transitioned to Purple Trading in an effort to improve the fills our firm was getting on your trading activity. As part of our partnership with brokerages we look to fill orders from our traders with our capital in the most efficient way possible for the firm and our traders to make money in the market. With our current partnerships with Nash and Purple Trading, they do not give us access to a live server connected to a bridge that is linked to all of the funded trader accounts. You may be thinking what does this mean? When utilizing a bridge it creates live market conditions across all of the funded accounts accounting for slippage, delayed pricing, delayed data etc that occur when trading with a liquidity provider. Since we do not have access to the bridge instead of utilizing this integration we are required to utilize a copy trader from the demo into the live environment. As you all know you are on demo accounts for the Funded Accounts. In collaboration with the broker then traders are chosen to copy the trades into a live account with real money. Since the accounts are on demo there is a rule that we have stated in the FAQ“

All accounts are demo accounts, it is against our rules to take advantage of this: Even when a client becomes a Funded Trader, they will be provided a demo account with virtual funds equal. This account is connected to our Master account that places trades in the live market, according to the trades of our Funded Traders using a copy trading software. This is where the real cash flow is generated. Funded Traders are entitled to 80% of the profits made in this account. This is a common practice in this industry and allows the administration of funded accounts as well as risk management to be much simpler.For this reason, it is against our rules to take advantage of strategies that generate risk-free, consistent profits only on demo accounts. Our Funded Traders are expected to be trading on their accounts as if they are live accounts, and any use of a strategy that takes advantage of demo accounts will result in closure of a Funded Trader’s account, whether in the evaluation phase or while funded.

Some example of these strategies include:

1. Use of the guarantee of compliance with limit orders (including Takeprofit and Stoploss)

2. Use of platform or data freezing due to a Demo Server error

3. Use of a delayed data feed

4. Trading on delayed charts

5. Trading at a time of significant macroeconomic reports, and being filled at an unrealistic price due to the volatility of the event

These are the most common strategies that people use to take advantage of demo accounts, but it is possible that there are more out there. If any account is seen to be using unfair strategies or an unrealistic trading style, they will not be eligible to be "funded.”

When a trader takes a trade over a certain contract size or with a certain volume in a short amount of time, on the live market there is an order book with the liquidity provider that the trade goes through in order to execute create slippage and delayed execution. With the demo it is executed instantaneously without any slippage making it a more favorable environment to trade in especially around illiquid trading hours of the day. We have notices with indices traders are taking advantage of this concept on a large scale, all while leaving us unable to correctly copy the trades given our current setup.

What can we do from here?

What we have decided to do is pause indice trading. It is the best decision for the traders and the business as we are looking to create an experience that is the most professional environment to trade in. The long term goal is to help jump start traders careers or advance them and offering unrealistic trading environments conflicts with that vision.

How are you affected?

The broker purple trading abruptly halted trading indices on Feb 11 at 5 am est. Leaving many of our traders left with open positions that either were in profit or loss. We are honoring those open positions and will revert back accounts to the equity level reported at the exact time trading was disabled. This is the best decision for the traders and the most fair. All of the partners discussed the pros and cons to this happening and made this decision knowing it is the best one we can make.

Where do we go from here?

As most of you know we have been saying the broker will come for a while now and we truly have been working hard on it. Because Voyage Markets will operate out of the EU it needs to be FCA regulated which is the gold standard. We are in final compliance checks and once the approval is granted it is a two week period for setup of our servers. We are planning this will be done March 1st and we can onboard all of our traders to the new broker. At that point we will have the infrastructure we need to resume trading the indices.

Indice trading as of 5 pm est today will be haulted. We know that it is still available on some of your accounts and we are working to remove it. If you trade it against this warning you will be given a warning and the trades will be removed. After two warnings you will be terminated for a violation.

We really appreciate everyone being so understanding about this situation and look forward to providing you solutions in the near future that will leave you excited to be apart of our company.

Thank you again Funded Trader Partners

Should you have any questions,

please feel free to contact our team at:

[email protected]

Isn’t this Blake’s dog group that looks like a gimmicky Nintendo game?

Rank amateur’s

FTMO has a clear address and phone number in contact section, but there is no address and phone number of MFF. That's a caution sign for me...

Does anybody have experience with surgetrader? They offer up to direct 1 million...

Demo and real trading difference

I would suggest you enter their discord space as they are very active there and will answer your questions rather quickly.

Mike is there almost from morning to night (Sydney timezone).

Masterrmind ........

Have not dealt with them myself but an interesting outfit.

Apparently US based in Florida but linked to 8Cap.

Have not read all the fine print but although the drawdown appears low at 4% in comparison with the others I believe there is no time limit as such to complete the 'Audition' as they refer to trading challenges.

Might be worth a deeper look but not sure at this stage.
Due diligence highly recommended !

Masterrmind ..........

you can now enter any prop firm of your choice at half the price of their entry fees.

https://www.mypropchoice.com/?aff=2

https://t.me/mypropchoice

I don't like the look of it at first pass.

They get you to pay half up front and if you pass the challenge within the 30 calendar days they will fund the rest of the fee.

If you don't break any rules but fail to meet profit target, off you go for another attempt.

If you fail, then they suggest you take some time off to re-evaluate your trading etc and then have another go later, so fee to play is lost.

Makes you wonder what is in it for them.

Simple !

I would say they are counting on you losing their challenge with the intent to pocket your fees.

If you pass their challenge then they simply arrange for an account in your name and pay the extra fee for full fee payment.

Again, it appears they are simply counting on you failing the challenge based on an assumed statistical edge that they would certainly have, since we all know the vast majority fail these challenges.

Traders I see no value in this approach from a traders perspective.

If you see it differently please comment.

Masterrmind .........

it has unlimited retries though,build enough buffer and risk that buffer only.

much much better than the Traderseed program though,at Traderseed,accounts will not be in your name and your profits split is a pittance.

and if you are a good trader,you could look at it as play and double your money (coz of refund) plus the evaluation account,though all your investment will come to fruition, once you pass the real challenge of the prop firm you choose.

Agreed.

I would not personally ever consider that program.

Traders interested in participating in challenges should ideally save up the fee to play or simply opt for a lower priced challenge and build from there within a perceived to be better Prop Firm.

I see nothing wrong with those traders who choose to wait for Prop Firm promotional discounts and at least reduce potential loss by say 10% or so should they fail to reach the payout stage.

Masterrmind .........

I'd rather play Russian Roulette

Low drawdown limit, stop loss obligation, small lot size and no time limit mean that they re looking for consistent profitable traders rather than collecting fees from newbies.