Prop Firm Hub | Page 456 | Forex Factory

Options

Go to
Permalinks
Print Thread

Featured US Prop Firms

Similar Threads

Anyone trading with a Prop firm 31 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

prop firm new model - my trading journey 871 replies

Attachments: Prop Firm Hub
Exit Attachments

Prop Firm Hub

  • #9,101
  • Jul 7, 2022 2:54am Jul 7, 2022 2:54am
Hi guys, i think y'all are doing a fantastic job with the info you're sharing. I'm looking to attempt one of these challenges - either FTMO or MFF. For anyone who has traded with either of these prop firms, would you please share your experience with slippage? How has it impacted your lot sizes, entries, SLs and TPs? Have you had to modify your strategy/system in order to cope with the prop firms? And if you can would you please share what your typical values are for lot sizes, SLs and TPs.

I'm trying to prepare myself with this info so i can tweak my systems if necessary. I'm hoping to hear from y'all.

Many thanks in advance.
Coz$FX bringing you the good word from RaBiTFX
  • #9,102
  • Jul 7, 2022 3:23am Jul 7, 2022 3:23am
Quoting Cools81
These "funding" firms are scams. FFS they are taking your money for you trading on a demo account which is free. The CONSISTENCY they want you to achieve BEFORE they pay you a cent is hard even for a pro trader let alone vulnerable newbies for which these things are marketed to. Stay away. Please don't fall for them.
-That seems subjective. Just because something may be considered difficult by some, does not make it a scam. If that were true, many professions would not exist.

The money that these firms charge is given back once the objectives are successfully completed. If you invest 100K into a college education to try to become a doctor or a lawyer, assuming that you succeed, you will not be getting your money back.

The opportunity is real and many traders have already seen very good profits that would not otherwise be possible.
  • #9,103
  • Jul 7, 2022 4:10am Jul 7, 2022 4:10am
Quoting oakinogundej
Hi guys, i think y'all are doing a fantastic job with the info you're sharing. I'm looking to attempt one of these challenges - either FTMO or MFF. For anyone who has traded with either of these prop firms, would you please share your experience with slippage? How has it impacted your lot sizes, entries, SLs and TPs? Have you had to modify your strategy/system in order to cope with the prop firms? And if you can would you please share what your typical values are for lot sizes, SLs and TPs. I'm trying to prepare myself with this info so i can tweak...
Both have slippage, MFF has more small slippage, FTMO has large slippage occasionally but less slippage on the regular as their environment feels more demo like. Haven't had to adjust anything because the slippage is negligible.
I trade 40 Eur/usd and 100 US30. US30 is more likely to get noticeable slippage but 100 US30 is priced in the market at 8tick spread so getting a few ticks slippage isnt going to make me cry. I dont use a TP or a hard SL because stop orders are executed last and i prefer to close my trades when they should be closed.

In the evaluation/challenge phases you will get better conditions than on the live but as long as you understand how the market works you wont have a problem with either of them. If 0.1 pip slippage makes you cry scam then its probably not advisable to participate.
  • #9,104
  • Jul 7, 2022 4:18am Jul 7, 2022 4:18am
Quoting Takisd
{quote} Both have slippage, MFF has more small slippage, FTMO has large slippage occasionally but less slippage on the regular as their environment feels more demo like. Haven't had to adjust anything because the slippage is negligible. I trade 40 Eur/usd and 100 US30. US30 is more likely to get noticeable slippage but 100 US30 is priced in the market at 8tick spread so getting a few ticks slippage isnt going to make me cry. I dont use a TP or a hard SL because stop orders are executed last and i prefer to close my trades when they should be closed....
Hi @Taksid, your feedback is much appreciated. I've been out of the forex game for close to a decade, in my time, there weren't prop firms. I see them as an opportunity to grow a verifiable track record and income without waiting to build a sizeable trading account through my sweat . I'm very aware of the reason for slippage in the live markets since there must be a counterpart for all orders, i just wanted to know if FTMO/MFF had considerable slippage, TBH, my system works fine with a few pips of slippage, 2 - 5 pips is acceptable for me.

Once again i do appreciate your feedback, i hope others here will also share.

Happy trading!
Coz$FX bringing you the good word from RaBiTFX
  • #9,105
  • Jul 7, 2022 4:40am Jul 7, 2022 4:40am
HELLO everyone ... please anyone tried https://fundyourfx.com ?? they really legit and good ?
trustpilot and trustindex very good reviews .. i will be happy if anyone tried them and good things about they.
  • #9,106
  • Jul 7, 2022 6:21am Jul 7, 2022 6:21am
Quoting maximusa
HELLO everyone ... please anyone tried https://fundyourfx.com ?? they really legit and good ? trustpilot and trustindex very good reviews .. i will be happy if anyone tried them and good things about they.
Hi Maximusa, they do look interesting, i noticed it'll take 11 funding rounds to 1M. IMO, the crux is passing the interview since they seem not to need to see performance on challenges. I think it may be easier to pass if one has achieved payouts from FTMO etc as proof of trading capability. My 2 cents.
Coz$FX bringing you the good word from RaBiTFX
  • #9,107
  • Jul 7, 2022 6:30am Jul 7, 2022 6:30am
Quoting oakinogundej
{quote} Hi @Taksid, your feedback is much appreciated. I've been out of the forex game for close to a decade, in my time, there weren't prop firms. I see them as an opportunity to grow a verifiable track record and income without waiting to build a sizeable trading account through my sweat . I'm very aware of the reason for slippage in the live markets since there must be a counterpart for all orders, i just wanted to know if FTMO/MFF had considerable slippage, TBH, my system works fine with a few pips of slippage, 2 - 5 pips is acceptable...
If you can handle 2-5 pip slippage, both of them are very good choices as you will rarely experience that kind of slippage.

FTMO's slippage is more sporadic to me and can occur at greater values at mff, MFF's is more consistent based on size.
  • #9,108
  • Jul 7, 2022 6:30am Jul 7, 2022 6:30am
Quoting oakinogundej
{quote} Hi Maximusa, they do look interesting, i noticed it'll take 11 funding rounds to 1M. IMO, the crux is passing the interview since they seem not to need to see performance on challenges. I think it may be easier to pass if one has achieved payouts from FTMO etc as proof of trading capability. My 2 cents.
yes its easier to pass as there no chellenge right .. but only 50%-50% split . ok
but important is we need make sure if they really legit and really good ..
i want make sure about in
they very new and very few reviews in internet
  • #9,109
  • Jul 7, 2022 7:35am Jul 7, 2022 7:35am
Hey guys, can anyone share there experience with taxes when you finally have a live funded account.
Can you for example deduct the fees you spend on the firms as expenses from the profit or is that not possible?
  • #9,110
  • Edited 8:19am Jul 7, 2022 7:46am | Edited 8:19am
An unheard (new ?) prop firm here, just to mention it: https://thefundedswingtrader.com/ 1-step challenge with no max daily DD; score with discount is 3.5, not bad.
The minimum trading days is 30 and maximum 180 days, so much less pressure to meet those profit goal, which is a plus. But you cannot trade 0.01 lots to fill in days.
Inserted Video
  • #9,111
  • Jul 7, 2022 8:13am Jul 7, 2022 8:13am
Quoting uiox2
Hey guys, can anyone share there experience with taxes when you finally have a live funded account. Can you for example deduct the fees you spend on the firms as expenses from the profit or is that not possible?
This depends upon the country you live on. Each country has his own tax rules.
  • #9,112
  • Jul 7, 2022 9:23am Jul 7, 2022 9:23am
Quoting TrAndy1
An unheard (new ?) prop firm here, just to mention it: https://thefundedswingtrader.com/ 1-step challenge with no max daily DD; score with discount is 3.5, not bad. The minimum trading days is 30 and maximum 180 days, so much less pressure to meet those profit goal, which is a plus. But you cannot trade 0.01 lots to fill in days. https://www.youtube.com/watch?v=jqLRIX24X-s
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 68 KB
This is the catch, if you want more capital with a competitive payout you must compound, thus increasing the chance of ruin.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 79 KB
Whilst I understand the attempted logic at saying less leverage = less risk. The traders who trade using these parameters are easier to b-book than traders who are more aggressive as per the traditional prop (but we don't really care about that). The issue is that a period of drawdown with these limits means the probability of recovery is significantly lesser as you are limited by size and the "scale down" element of having % risk requirements.

Its certainly an interesting new concept, but it is very restrictive.

As I am experiencing with finotive, the extra restrictions really mess with your mentality when trading, have to do this have to do that its always part of your thought process when it generally isn't if you have been trading for a certain period of time. If it was just leverage that was the restriction, I'd say its good.
  • #9,113
  • Jul 7, 2022 10:43am Jul 7, 2022 10:43am
I do not like this FundedSwingTrader prop firm too, I just wanted to mention it here, because it was unheard of and to make the list of prop firms more complete.
  • #9,114
  • Jul 7, 2022 10:44am Jul 7, 2022 10:44am
Here is my criteria for a funding company 2 Phase (FTMO, MFF, etc) or 1 Phase (5%ers)

1. No Trailing/Relative Drawdown (ONLY absolute drawdown from initial balance)
2. Your profits DO NOT become part of your drawdown allowance to scale, you are entitled to ALL your profits down to initial balance
3. No Consistency or lot size Rules
4. Minimum days that DO NOT exceed 10 days
5. Allows Expert Advisors without source approval
6. Allows coypytrading from personal account
7. Minimal or NO negative posted reviews here and on Trust Pilot regarding payout disputes and customer support. I would prefer that the company have at least a 6 month track record.
8. No restriction on overnight, weekend, or news trading
9. Leverage at least 1:10

I am not as concerned about the payout %s as much as the above criteria being the starting point.

What would you add?
  • #9,115
  • Jul 7, 2022 10:48am Jul 7, 2022 10:48am
Quoting MoxFulder
Here is my criteria for a funding company 2 Phase (FTMO, MFF, etc) or 1 Phase (5%ers) 1. No Trailing/Relative Drawdown (ONLY absolute drawdown from initial balance) 2. Your profits DO NOT become part of your drawdown allowance to scale, you are entitled to ALL your profits down to initial balance 3. No Consistency or lot size Rules 4. Minimum days that DO NOT exceed 10 days 5. Allows Expert Advisors without source approval 6. Allows coypytrading from personal account 7. Minimal or NO negative posted reviews here and on Trust Pilot regarding payout...
Score must be above FTMO of 3.1 to be attractive. And there should be some significant payout proofs to be a worthwhile prop firm. Otherwise I would not consider.
  • #9,116
  • Jul 7, 2022 10:51am Jul 7, 2022 10:51am
Quoting MoxFulder
Here is my criteria for a funding company 2 Phase (FTMO, MFF, etc) or 1 Phase (5%ers) 1. No Trailing/Relative Drawdown (ONLY absolute drawdown from initial balance) 2. Your profits DO NOT become part of your drawdown allowance to scale, you are entitled to ALL your profits down to initial balance 3. No Consistency or lot size Rules 4. Minimum days that DO NOT exceed 10 days 5. Allows Expert Advisors without source approval 6. Allows coypytrading from personal account 7. Minimal or NO negative posted reviews here and on Trust Pilot regarding payout...
My big one is their own feed. Obviously the fewer parties involved (outside broker), the fewer issues. Broker has an LP go down, bad spike, etc., Prop firm isn't immediately aware, then they must deal with the broker, etc......with their own feed, resolution is much quicker. Example, MFF just had a spike on gold the other day due to an LP pulling prices, MFF immediately notified everyone impacted and resolved it. Jst a much smoother process, IMO.
As TrAndy just posted, 100% agree, I must be getting at least 3 times value vs. trading their fee on my own.
  • #9,117
  • Jul 7, 2022 11:06am Jul 7, 2022 11:06am
Just do not get it that BluFX is doing the white label thing with https://www.trutraderfund.com/ . Exactly the same offer but little bit cheaper. Why are the doing this, maybe the have not enough traders and not enough growth. Everyone in the prop space knows BluFx, so yeah, no reason to do this. If they had better leverage...
  • #9,118
  • Jul 7, 2022 11:11am Jul 7, 2022 11:11am
Quoting maximusa
HELLO everyone ... please anyone tried https://fundyourfx.com ?? they really legit and good ? trustpilot and trustindex very good reviews .. i will be happy if anyone tried them and good things about they.
This is a 1 Phase model. Their leverage is low at 1:5 and their scale up target is 10%, it will take some pips to hit with that leverage.
The question is, "do they let you withdraw your profits before you hit the 10% and count your withdrawn profits toward the 10%?"
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 38 KB
  • #9,119
  • Jul 7, 2022 11:47am Jul 7, 2022 11:47am
Quoting MoxFulder
Here is my criteria for a funding company 2 Phase (FTMO, MFF, etc) or 1 Phase (5%ers) 1. No Trailing/Relative Drawdown (ONLY absolute drawdown from initial balance) 2. Your profits DO NOT become part of your drawdown allowance to scale, you are entitled to ALL your profits down to initial balance 3. No Consistency or lot size Rules 4. Minimum days that DO NOT exceed 10 days 5. Allows Expert Advisors without source approval 6. Allows coypytrading from personal account 7. Minimal or NO negative posted reviews here and on Trust Pilot regarding payout...
I would add a good payout process that doesn't prevent us from trading several days like TFF or TFT.
And an high value for USD spent. For example, AbilityCapital (the challenge model of Audacity) would rank terribly in Trandy table because they have:
15% target phase 1 and 10% DD
10% target phase 2 and 10% DD
Funded 10% DD
Only 75%
  • #9,120
  • Jul 7, 2022 11:51am Jul 7, 2022 11:51am
Quoting TrAndy1
Just do not get it that BluFX is doing the white label thing with https://www.trutraderfund.com/ . Exactly the same offer but little bit cheaper. Why are the doing this, maybe the have not enough traders and not enough growth. Everyone in the prop space knows BluFx, so yeah, no reason to do this. If they had better leverage...
Despite cheaper, they pay 60% profit.
Apparently they only accept crypto as payment.
The offer is abasically a copy. How do you know it's a white label of BluFx ?
108 traders viewing now