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  • #9,341
  • Jul 14, 2022 8:12am Jul 14, 2022 8:12am
Quoting Takisd
So I spoke to the guys who run ICMarkets desk..
I gotta say Takisd, I love you too
  • #9,342
  • Jul 14, 2022 12:28pm Jul 14, 2022 12:28pm
Quoting Nsak3y
{quote}-Oh, okay. I just assumed that MFF, for example, were able to set the slippage amounts based on lot size etc. for their simulated accounts.

yes if you know what your top of the book size is you can do that too. But I dont think the slippage is the same every trade.
  • #9,343
  • Jul 14, 2022 12:29pm Jul 14, 2022 12:29pm
Quoting Thoughts
{quote} I gotta say Takisd, I love you too

ICMarkets use a third party for their dealing desk. Based in the US
  • #9,344
  • Jul 14, 2022 1:57pm Jul 14, 2022 1:57pm
My finotive account is officially dead. Forgot a stop loss whilst being in a meeting and I clearly broke their stoploss rule so I yolod and died. Good to have it off my mind, sad they got my money.
  • #9,345
  • Edited 8:49pm Jul 14, 2022 6:40pm | Edited 8:49pm
Quoting Takisd
sad they got my money.
-Nah, they just helped you reduce your taxable income.
  • #9,346
  • Jul 14, 2022 7:13pm Jul 14, 2022 7:13pm
Quoting Takisd
My finotive account is officially dead. Forgot a stop loss whilst being in a meeting and I clearly broke their stoploss rule so I yolod and died. Good to have it off my mind, sad they got my money.
they seem to have some rules which are not so good.

One can not have more than 3 open positions in same instrument
Intraday only.
  • #9,347
  • Jul 15, 2022 12:30am Jul 15, 2022 12:30am
Quoting navk
{quote} they seem to have some rules which are not so good. One can not have more than 3 open positions in same instrument
Yep, that and some more.
Attached Image (click to enlarge)
Click to Enlarge Name: finotive.PNG Size: 21 KB
  • #9,348
  • Jul 15, 2022 12:33am Jul 15, 2022 12:33am
Quoting Takisd
My finotive account is officially dead. Forgot a stop loss whilst being in a meeting and I clearly broke their stoploss rule so I yolod and died. Good to have it off my mind, sad they got my money.
Were you notified of the breach of are you assuming that they will refuse if you pass.
They told me that we can open a position without stop and enter the stop afterwards in a "reasonable" amount of time.
Not sure what reasonable is.

They sound too discretionary in rule sinterpretations, anyway.
  • #9,349
  • Jul 15, 2022 1:23am Jul 15, 2022 1:23am
Quoting Capablanca
{quote} Were you notified of the breach of are you assuming that they will refuse if you pass. They told me that we can open a position without stop and enter the stop afterwards in a "reasonable" amount of time. Not sure what reasonable is. They sound too discretionary in rule sinterpretations, anyway.

No notification, but fairly sure if i passed i would get just 25% or whatever. Which is of no interest to me. They aren't really world leaders at all.

The topic of slippage is absolutely everywhere right now, every company every user. I feel sad for the prop firms support teams, even the ones i dont like because it looks like people who really dont know what they are doing are spreading bs everywhere on the internet and I feel its unfair despite it being funny. Imagine running a firm, giving legit conditions or better than legit conditions which most of them are and being sprayed because Bob G who bought daniel savages course got slippage 5 pips when news of Draghi being ousted popped EURUSD parity. I mean cmon.
  • #9,350
  • Jul 15, 2022 1:50am Jul 15, 2022 1:50am
Quoting Takisd
The topic of slippage is absolutely everywhere right now, every company every user.
-Hopefully, we do not see any firms concede to pressure, either, else we may end up seeing massive spreads and more restrictions in order to counter the abusers.
  • #9,351
  • Jul 15, 2022 1:54am Jul 15, 2022 1:54am
Quoting Nsak3y
{quote}-Hopefully, we do not see any firms concede to pressure, either, else we may end up seeing massive spreads and more restrictions in order to counter the abusers.

Rules or restrictions is more likely like no trades during news and lot size limits.
  • #9,352
  • Jul 15, 2022 2:10am Jul 15, 2022 2:10am
Quoting Takisd
Rules or restrictions is more likely like no trades during news and lot size limits.
-Exactly. That would be unfortunate.

If firms even consider it, hopefully they would give traders a choice, along with an explanation so that most of the newbies would realize that dealing with the occasional slippage would be the better option.

It is sad that this kind of discussion would even carry with it any serious consideration, really, but the fact remains that most of the traders that choose to be publicly vocal (problematic) about things are usually not the best and brightest, and seemingly make up the majority.
  • #9,353
  • Jul 15, 2022 5:35am Jul 15, 2022 5:35am
Anyone currently trading with fidelcrest? They have some pretty large accounts/targets, so I am curious about their trading conditions/slippage. You may need to trade pretty heavily in order to reach the targets in time, so if the slippage is excessive, then it might rule out scalping. They have 1M normal account challenge and a 500K aggressive account challenge, which appear to be exactly the same thing, except the 500K aggressive offers higher profit split for the same cost for some reason. Not only that, but the 500K aggressive would allow for more funding capital, so I do not see why anyone would choose the 1M normal over the 500K aggressive, unless I am missing something.

Spoke with fidelcrest support and was told that they allow multiple accounts up to 2M per trader for initial balance (prior to scaling). Their targets are quite aggressive though. They do have a bonus offering that allows you to pick one of three offerings. One of the bonus offerings is the option for a free challenge of equal value. So, if you fail, you can basically try again for free. Another bonus option, which is really good in my opinion, gives you a free funded account of equal value upon completion (accounts cannot be merged, if I remember correctly). I think the bonus has to be selected prior to starting the challenge, though.

All-in-all, they appear to be a possible good choice for anyone looking for fun accounts to trade. However, you will need to be able to flip an account 4 times in order to get funded, I think.

I am also liking what I see with theproptrading. Unlimited accounts up to 500K each. They have a 400K challenge. They also have no minimum trading days, allowing you to pass both challenges and get funded in 1 day. They also appear to not have any trading down-time for withdrawal periods. No lot size limits. The only bad thing that stands out is that they do not allow copy trading across multiple (theproptrading) accounts, so you would have to trade multiple accounts individually. Not a big issue if you are looking to trade on the heavy side. Would be curious about their trading conditions, also.

Thanks.
  • #9,354
  • Jul 15, 2022 6:51am Jul 15, 2022 6:51am
Quoting Nsak3y
I am also liking what I see with theproptrading. Unlimited accounts up to 500K each. They have a 400K challenge. They also have no minimum trading days, allowing you to pass both challenges and get funded in 1 day. They also appear to not have any trading down-time for withdrawal periods. No lot size limits. The only bad thing that stands out is that they do not allow copy trading across multiple (theproptrading) accounts, so you would have to trade multiple accounts individually. Not a big issue if you are looking to trade on the heavy side. Would...
That's all true. I made a review which is pretty much updated, except in the lot limitation for the first 3 months.

That's the firm where I had more payouts so far.
Pretty efficient in getting credentials immediately for phase 1 and 2.
Payouts is just clicking in payout request on the day and we immediately receive new credentials. So downtime for payments is zero (not like TFF or, even worse, TFT).
Payouts have been very efficiently, usually 1 or 2 business days after requesting (in my case crypto). Fee refund also automatic, no need to ask.
Although very automatic in everything, I wish they were more efficient in the google form we need to fill in for each payout request, but that's bearable.
Customer service.... well, better you don't need them. It's really bad, like talking to bots.

The copy thing is bad. We need to be careful not to trade same thing in different account, just in case.
No commissions but spreads are wider.
  • #9,355
  • Jul 15, 2022 8:41am Jul 15, 2022 8:41am
Quoting Capablanca
No commissions but spreads are wider.
-Thanks for all of the info. Any experience with slippage?
  • #9,356
  • Jul 15, 2022 9:21am Jul 15, 2022 9:21am
Quoting TrAndy1
So do you get a refund something when live account started at MFF ? I heard you get something at the beginning. Second what about payouts, what do I need to sign on Deel. As contractor, do I really need to pay $49 monthly for that ? Any free payout options ? I do not like or hold any cryptos. So what can I do to recieve them ?

. After phase 2 you should get phase 1 bonus. You dont pay monthly to be a contractor deel is free.
  • #9,357
  • Jul 15, 2022 9:50am Jul 15, 2022 9:50am
Quoting Nsak3y
{quote}-Thanks for all of the info. Any experience with slippage?
Absolutely nothing. Either on TP or SL. It's like a videogame.
And when clicking in the bid / ask it's what I get.
However I don't trade many lots, even on challenges. Rarely more than 5 at a 100K account and less than 7/8 in 200K.
And spreads are wider, as I said. I left them here some days ago:
https://www.forexfactory.com/thread/...0#post14055140
  • #9,358
  • Jul 15, 2022 10:33am Jul 15, 2022 10:33am
Quoting Capablanca
Absolutely nothing. Either on TP or SL. It's like a videogame.
-Oh, geez. Okay. Good to know. Thanks.

Curious how they are dealing with news traders getting perfect fills then.
  • #9,359
  • Jul 15, 2022 11:01am Jul 15, 2022 11:01am
Quoting Nsak3y
{quote}-Oh, geez. Okay. Good to know. Thanks. Curious how they are dealing with news traders getting perfect fills then.
This is my experience. Not sure if that's account driven.
I don't trade news either but occasionally I have TP or SL filled just after the data release and never had slippage. I hope they don't change that
  • #9,360
  • Jul 15, 2022 11:28am Jul 15, 2022 11:28am
Quoting Capablanca
{quote} This is my experience. Not sure if that's account driven. I don't trade news either but occasionally I have TP or SL filled just after the data release and never had slippage. I hope they don't change that

If I was trading there, I would hope they change that. Its really bad for their financial situation. Thanks for the info though, I'm going to go trade with them now knowing that my stops will be guaranteed get a free funded account.
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