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  • #10,201
  • Aug 15, 2022 9:46am Aug 15, 2022 9:46am
Quoting Capablanca
{quote} The Funded Trader made a poll in Discord and the result is not surprising. One doesn't need to have a PhD realize how bad is their payout process. {image}

I personally would like an easter egg hunt so long as chocolate is given.
  • #10,202
  • Aug 15, 2022 10:07am Aug 15, 2022 10:07am
Quoting Expo33
{quote} After getting my first funded account with TFF, I've never had to provide documents again. Just got another funded account today and didn't even have to sign or agree to anything.
Same here, several funded accounts with TFF, documents required only for the first one
Money is made by sitting, not trading
  • #10,203
  • Aug 15, 2022 10:36am Aug 15, 2022 10:36am
When the payout at MFF is requested and the balance is again at initial level on funding account, can you then continue to trade or need to wait until you got payout ?
  • #10,204
  • Aug 15, 2022 10:39am Aug 15, 2022 10:39am
Quoting TrAndy1
When the payout at MFF is requested and the balance is again at initial level on funding account, can you then continue to trade or need to wait until you got payout ?

yes
  • #10,205
  • Aug 15, 2022 10:46am Aug 15, 2022 10:46am
Quoting Expo33
{quote} After getting my first funded account with TFF, I've never had to provide documents again. Just got another funded account today and didn't even have to sign or agree to anything.
That's good, it's an improvement. Last time I achieved a funded was early July and still had to do that, despite I had another one.
  • #10,206
  • Aug 15, 2022 10:48am Aug 15, 2022 10:48am
Quoting Takisd
{quote} I personally would like an easter egg hunt so long as chocolate is given.
Then go out campaigning with the other 23 persons that voted for it
  • #10,207
  • Aug 15, 2022 11:01am Aug 15, 2022 11:01am
Quoting Capablanca
{quote} Then go out campaigning with the other 23 persons that voted for it

the fact it is in there along with the payout matter shows what a joke they are. So give me chocolate.
  • #10,208
  • Aug 15, 2022 11:20am Aug 15, 2022 11:20am
I don't know if Paypal is run by a bunch of idiots but this is coming from someone that can't process a simple payout in less than 4 days....
Attached Image (click to enlarge)
Click to Enlarge Name: Paypal.PNG Size: 16 KB
  • #10,209
  • Aug 15, 2022 11:36am Aug 15, 2022 11:36am
Quoting Capablanca
I don't know if Paypal is run by a bunch of idiots but this is coming from someone that can't process a simple payout in less than 4 days.... {image}

Pretty stupid thing to leak. But accurate sort of if you are a forex company. Paypal has a policy of no forex and they take down anyone big for forex products.. by big its a few hundred k a month.
  • #10,210
  • Aug 15, 2022 11:47am Aug 15, 2022 11:47am
Quoting Takisd
{quote} Pretty stupid thing to leak. But accurate sort of if you are a forex company. Paypal has a policy of no forex and they take down anyone big for forex products.. by big its a few hundred k a month.
But on IC Markets you have no problems to use Paypal at all. And they are a forex company or not ? I also would guess they are big enough over few 100k a month or ?
So I guess it is the TFTP problems why they cannot use Paypal as payment. They seem to be shady for them or had complaints here. Otherwise it does not make sense.
  • #10,211
  • Aug 15, 2022 11:56am Aug 15, 2022 11:56am
The prop trading, E8 and TCF use Paypal.
TFF used in the beginning but don't use any longer.
  • #10,212
  • Aug 15, 2022 11:58am Aug 15, 2022 11:58am
Quoting Capablanca
The prop trading, E8 and TCF use Paypal. TFF used in the beginning but don't use any longer.
Ha, they had complaints to Paypal for sure. Then they got kicked out, and they say Paypal are full of fools. It is not the case. Just for the customer first, in third place with some distance for the business. But, there are so many seeking for competitions lately. Here is one where you can show it: https://www.tradingcup.com/en
  • #10,213
  • Aug 15, 2022 12:02pm Aug 15, 2022 12:02pm
Quoting TrAndy1
{quote} But on IC Markets you have no problems to use Paypal at all. And they are a forex company or not ? I also would guess they are big enough over few 100k a month or ? So I guess it is the TFTP problems why they cannot use Paypal as payment. They seem to be shady for them or had complaints here. Otherwise it does not make sense.

ICMarkets, the largest retail fx broker in the world, with multiple regulations has the resources and compliance department to perhaps comply with paypal if paypal chose to give them that permission.

I have tried multiple times with FCA and ASIC regulated brokers to work with paypal and every time paypal has said "No forex companies". Alternatively, ICMarkets could be using a provider who has paypal as an option and isnt the customer of paypal themselves. Which would be the smartest route i think.
  • #10,214
  • Aug 15, 2022 12:08pm Aug 15, 2022 12:08pm
Quoting Capablanca
The prop trading, E8 and TCF use Paypal. TFF used in the beginning but don't use any longer.
Are you sure about E8 using Paypal? I haven't made it to the first split yet so cannot say for sure but they seem to offer only Deel or Coinbase.
They used to offer Paypal in the past but dropped it afaik. More prop firms seem to be dropping their various payout methods lately for using only Deel or crypto
Money is made by sitting, not trading
  • #10,215
  • Edited 12:41pm Aug 15, 2022 12:10pm | Edited 12:41pm
Quoting TrAndy1
{quote} But on IC Markets you have no problems to use Paypal at all. And they are a forex company or not ? I also would guess they are big enough over few 100k a month or ? So I guess it is the TFTP problems why they cannot use Paypal as payment. They seem to be shady for them or had complaints here. Otherwise it does not make sense.
Paypal will cease working with companies that get high rates of complaints. Regardless if the complaints are justified or not. Most of the time they are not justified and toddlers want to be refunded for their piss poor gambling addiction.

ApplePay (GS Card) had recently cut off MFF as well. Much like with PayPal, too many complaints (chargebacks, etc), they’ll get dropped.
Trade with confidence, trade without fear.
  • #10,216
  • Aug 15, 2022 12:41pm Aug 15, 2022 12:41pm
It seems MFF has no Asia desk at all. Because I got over 8 hours later a confirmation of my Payout request. Anyone knows the customer service times of MFF ? Because I think they will stop working any request in a few hours from now. So if I do not hear from them in the next hours, it really takes ca.36 hours to process payouts, or ?
  • #10,217
  • Aug 15, 2022 12:48pm Aug 15, 2022 12:48pm
Quoting TrAndy1
It seems MFF has no Asia desk at all. Because I got over 8 hours later a confirmation of my Payout request. Anyone knows the customer service times of MFF ? Because I think they will stop working any request in a few hours from now. So if I do not hear from them in the next hours, it really takes ca.36 hours to process payouts, or ?

They process payouts within 24 hours generally. If its your first it takes slightly longer. They have customer service 24/7
  • #10,218
  • Aug 15, 2022 12:55pm Aug 15, 2022 12:55pm
Quoting TrAndy1
So I guess it is the TFTP problems why they cannot use Paypal as payment.
-It is possible that some companies may be able to find workarounds or operate under the radar. I suspect that some companies may also fudge the truth a bit in order to get approved. Actually, I have a business account with Paypal (unrelated to trading), but I do not remember what was asked or required. I actually had someone else set it up, so, I couldn't say.

But as suggested, it is likely that Paypal received many complaints which caused them to look more closely at TFTP, then they just terminated the account. Either that, or they just terminated it outright due to the high volume of complaints. Paypal is not the only company that turns away certain businesses that are involved in activities like trading and gambling etc.. Cryptocurrency is a big one, too. Even many banks will turn you away for that.
  • #10,219
  • Aug 15, 2022 1:52pm Aug 15, 2022 1:52pm
Quoting Vitore
{quote} Are you sure about E8 using Paypal? I haven't made it to the first split yet so cannot say for sure but they seem to offer only Deel or Coinbase. They used to offer Paypal in the past but dropped it afaik. More prop firms seem to be dropping their various payout methods lately for using only Deel or crypto
Sorry, maybe it was not clear. I was solely speaking about paying for the challenges (which is good if the company ends up being a scam).
I'm not interested, personally, in receiving through PayPal. I prefer cyptos and Deel if crypto is not available.
  • #10,220
  • Aug 15, 2022 1:54pm Aug 15, 2022 1:54pm
Do not know which Prop Firm has already automated Payout payments too ? MFF certainly not. If they analyze every trade by hand it can take quite a long time. If they already automated it then it would be a matter of minutes or even seconds. Do not know what MFF is all looking for when they "we analyze your account", it takes time.
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