Prop Firm Hub

TCF white label

-That is basically the idea. There are a few more details that might be important. You basically get 100 trades to prove yourself. If at least 30 of the 100 trades are profitable and you end with an overall RR of 1:2 on the account, then you pass. There is no time-limit or max draw-down on the challenge, so you could even lose 20K and dig yourself out of the hole. However, any hail-mary trades will likely not be counted towards your RR, since they will be considered as lucky trades if the lot sizes are outside of the range of what you typically trade on the account (they use 2.5x your typical trade to determine range). Regardless, if you are able to bring the account into profit before the 100 trades, then you are granted one free retake.

Once live, you do not need to worry about the account metrics so much unless you want to scale the account. They use a netted-based account on MT5, which some traders may not like. I personally like the idea. You can scale the account after every 100 trades, so long as you are 1:2 RR. If you are not 1:2 RR at 100 trades, then I think that you can keep trading in order to improve your RR, then you can scale once that happens in lieu of having to trade another 100 trades. Looks like you can scale up to 4M, giving 400K draw-down.

Since the account is netting-based, it will take a lot longer to achieve the 100 trades, though. Even as a scalper, I suspect that it could take me 20 days if I trade casually, without taking on additional risk. However, since there is no phase-2 like most challenges, it kind of balances out. Supposedly, they are working on something to accommodate swing traders. I guess they just had a trader pass within 4 days, according to their youtube.

Another thing to mention is that they do not count trades as winning if they are not at least 10% of your average profit (or something like that). So, if you try to micro-scalp the account, it will not work. However, since there are no profit targets, you could literally trade the smallest position sizes possible in order to complete the challenge, giving you a lot of breathing room for corrections, especially if you ladder into your positions like I do.

They did say that traders must trade 50 trades on their live account first in order to withdraw. But once that is completed, traders can withdraw funds at any time, whenever they want. They also said that they would allow traders to leave profits in the account if they want to maintain or grow additional draw-down protection on the account. Only 1 Freestyle account is allowed per trader, but unlimited attempts are allowed.

From their website:

Overall, some pros and some cons. I like that they are doing something different. I also like that the payout is 100% and that there is no daily draw-down. I do not personally like the fact that they require 50 trades before withdrawing, so hopefully this will change, but I do like that they give traders the freedom to access their money whenever they want after that.

True!

For casino type trader, you can have better conditions using off-shore broker without swap and commission.
So, I'm thinking to have several small accounts and use copy trader. The downside is you risking your own money .
But, hey no risk, no gain!

WarriorFX

So, in essence, once you pass, scaling aside, it is like your own 50K account. Trade how you want, withdrawal when you want, you keep 100%. Only rule at that point is do not lose 5K. That is not relative correct, account just cannot ever hit 45K?

-That is my understanding, yes. However, there is the netting-based account, 1:30 leverage and 28-day dormant account limit.

Leverage and hedging are non issues to me. However, like you, I do scale into positions, which obviously is allowed in one direction. I'm guessing multiple entries constitute one position when determining passing the eval and scaling once live?
Sorry for all of the questions, it just seems you've done a deep dive already. Cannot ask on their thread as the 5%ers and I do not get along at the moment lol.

-Same.

-Yes. This is the netting aspect of it. It seems clear why they are doing it this way. At first, I did not like the idea of it, especially since it will take much longer to achieve 100 trades. However, based on how I trade, it should only take me about 20 days to complete the challenge phase, and when you consider that most firms have two challenges that can last equally as long or more, it kind of balances out. Also, if they did not consolidate open positions like this, then I could complete the challenge in an hour or less.

Actually, I kind of like the idea of consolidating positions, because it will make things a lot easier for me since I usually have many trades open and managing a single trade should make things a lot easier and clean up my chart a lot. It basically averages out the position, so the entry point is moved automatically, from what I understand. Here is a video demonstration of how the netting works:



-It's fine. I think that it is worth mentioning here because it is such a unique model. Most of the information can be found on their website and by watching their youtube video, for anyone interested:

ha probably. i think most of the new pop ups are white labels of TCF and Eightcap

Yes as much as I'd like to see a $1Million challenge, this one is simply over-priced!!

I'm not going to be pressing that "Start Trading" button any time soon.

Hopefully, some Prop Firm will offer something more enticing.

Masterrmind ............

You can do (3) 200K MFF evals for $2643, 60% less cost and actually have almost 50% more DD, 72K vs. 50K. Hell you could do 2 for $1762 and only be 2K shy on the DD.
So, yes for $1762 vs $6500 I get just about the same allowable loss. Just wow.
Some of these companies are just preying on the foolish and seeing how far they can push the envelope.

Yes indeed.

Simple math.

Anyway some will be crazy.

I won't be taking it on though....

Masterrmind ..........

They saw the end goal - $$$$$MILLIONS$$$$ hanging there regardless of what you have to say.

If it means anything at all, the contract is signed by the director of Gleneagle Securities, Lance Rosenberg so it means quite a lot to me.

I'm not suggesting here that traders go in blind !

I always advise traders to conduct their own due diligence.

$1000 is actually the minimum required to play.

Profit shares are relatively meaningless until the very late stages.

This means that I'll keep doing other challenges too.

In any case, I think the Ditto.Trade model offers something of value to traders provided the time element won't kill it for them.

Good trading,

Masterrmind ...........

only set back for ditto is, after maintaining very tight DD and stable return profit % will go down gradually. if a trader can keep DD below 20% and make around 10% per month for 2 years will earn more than ditto by joining popular pamm broker

I saw this review the other day but it is an 8cap white label

Currently the profit share does taper off as funding increases but it's always possible for this to change later in the future if enough traders join forces and complain bitterly about it.

Best approach now ofcourse is to analyze it under current conditions.

There are several scenarios one can run based on various % gain values across the 8 levels.

Better to use values starting at say 3% initially per stage because this is the minimum requirement and see how this pans out over the 8 levels, then do say increments of 1%, so 4%, 5%,so on up to 9% noting that this is over a 3 month trading period.

Returns will oscillate ofcourse but perhaps a return of 25% could be made trading with a 5% daily DD limit and 10% monthly DD limit over 3 full month's.

It's a program designed to gather pro traders who then have their trades copied to interested investors and I would think that traders receive compensation for this activity.

Masterrmind ..........

This is my review of The Prop Trading. It's going to be long.

First of all, the most important: they pay. I’ve already received 4 payments (three of them 4 digits and one 3 digits), from Dec to March.
I had already 7 or 8 challenges. Some were resets.
I have 2 funded accounts presently.

Credentials
They are very good at this. As soon as I paid I received an automatic email with credentials.
The same from phase 1 to phase 2. It’s automatic.

After phase 2.
I received automatic emails as soon as targets are met, together with the link for the trader agreement.
They are very good in this as well. True forex, for example, asks for the trader agreement to be signed in paper (!), scanned and and sent back by email.
Their signing process is all online. However, we need to submit documents for each account. That could be improved (we don’t need to do that in MFF if we already have an account).
Credentials for funded usually come the next business day (much better than The funded Trader, for example, that was taking up to 9 business days to get the credentials; not sure if they improved in the meantime).

Limitations of lots in funded accounts
This is the main point for me. Although there is no restrictions on challenges (besides the limitation of 1:200 leverage), in funded account we can’t trade more than 5 lots per instrument in a 100K account (or 10 lots in 200K account or 2.5 in a 50K account). After 90 days trading that account we may ask this restriction to be relieved.
However, in 100K accounts, you can have 5 lots in EUR, 5 lots in GBP, 5 lots in AUD, 5 lots in SPX, etc.
So, you can have an enormous exposition in total (leverage 1:200), but not more than 5 lots in one single instrument.

I lost 2 funded accounts in the past because of this limitation, by distraction. Something like having 2.7 lots opened and opening another 2.5 in the same instrument, instead of another pair. It’s quite frustrating not being able to limit the total number of max lots exposition, per instrument, in MT5.

And there’s no warning, the account is simply voided with no appeal (we receive immediately an email terminating the account). They could improve this IMO (warning or limiting lots) but I think the lost accounts take part of their business model.

Also a note: this restriction is not per funded account. You can have 5 lots per instrument in a 100K account but if you have 2 x 100K accounts you can’t have 5 lots GBPUSD in one and 5 lots GBPUSD in another. This would be a violation. Ridiculous as it sounds, I have a written confirmation of that.

Free retries and resets in challenges
They have, as usual in these firms, another free retry if you are positive in phase 1 after 30 days but the target was not achieved (and rules not violated, of course). This is pretty standard in prop firms

However, it’s important to note that if we fail the challenge (because of max loss, max daily loss, etc) they offer a discount to purchase another challenge (they call it reset). That discounted challenge (called reset) is not entitled to another free retry.
So, if you ever purchase a challenge via reset either you make it or not. There's no more free chances.
Not everything is bad. At least, the reset is also refunded if you get a profit split.

Payouts
Payouts are 80% after 30 days, provided that we had 10 trading days (note: it’s not exactly 30 days, it’s the “monthly anniversary” after the first trade; if first trade was on 4th then payout day is on 4th next month). Sometimes is more than 30 days, sometimes is less.

On the “monthly anniversary” day we need to go to the dashboard (profit share section) and the payout bottom will be active for only 24 hours. If we miss that we have to wait another 30 days.

If we click in payout bottom we receive immediately new credentials for a new funded account by email. This is very good because we can go on trading immediately.
The next payout date is on the “monthly anniversary” based on the first trade in that new account.

At the same time we receive an automatic email congratulating for the results and with a link to produce the invoice.
The invoice is not a traditional invoice. It’s just a google form with several pages where we fill in the details (name, address, phone, etc.), which have to match the original agreement. We also need to provide the order number when we purchased the challenge (which can be checked in the dashboard), as well as the amount of profit that we should receive and bank account/crypto address.
It's strange that they are so automatic in the account credentials/trader agreement and we need to fill in all this things manually in a google form. They could improve a lot here.

Payout is done the following one or two business days after we submitted this invoice form. It’s very fast.
The payout can be done by bank wire or by crypto (USDT, BTC and ETH). I have received always by crypto and they deduct some amount for gas fees (sometimes was 35 USD and sometimes was only 10 USD). I've never withdrew from them through bank wire so I don’t know.

Fee refund
We don’t need to ask anything. This is processed the day after we receive the payout (I think they check the order number in the form and validate if that is entitled for a refund). Very efficient.

Commissions and spreads
They don’t charge commissions but their spreads are wider when compared with others props (European session):
GBPUSD 0.8
EURUSD 0.6
AUDUSD 0.8

Customer Service
It’s horrible, like in most props. We have to ask over and over again the same thing. And if something is left pending from one day to the other, they come back saying something like “how can I help you ?”, although the history is all in the forwarded or replied emails.

Conclusion
Overall, knowing that no prop is perfect, I’m happy with them, despite the spreads and lot restriction which is their worse thing IMO.
I think they are pretty efficient if we don’t have issues to deal with customer service.
Quick credentials, quick trader agreement, fast payments, fast refunds and we don’t have interruptions in trading during payout period.
I would say that more positives than negatives. I hope they are able to succeed and sustain their business.

If you are interested you can read my other reviews:
The Funded Trader
True Forex
Disclaimer: I have no connection or affiliation with any firm. I try to describe the props as clear as possible, highlighting what is important for me, reporting the good and the bad.

For the ones that already read the previous post, I made a mistake in the beginning. The review is about The Prop Trading and not The Trading Capital.
Already corrected it. Sorry about that !
(I have indeed a challenge running in The Trading Capital but no good vibes about it by now)

Had a good look and read up of the 5ers "Freestyle" program and this is the way I see it:

Those spreads are not bad. The others apply commission and comes to the ~same cost level.