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  • #10,221
  • Aug 15, 2022 1:55pm Aug 15, 2022 1:55pm
Quoting TrAndy1
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.

No one. Why would they, thats insanity. Automated payments? There are so many laws being broken just from the idea.
  • #10,222
  • Aug 15, 2022 2:05pm Aug 15, 2022 2:05pm
Quoting Takisd
{quote} No one. Why would they, thats insanity. Automated payments? There are so many laws being broken just from the idea.
Which laws ? And when you had to look for certain type of trades or EAs or anything that could be automated, not the payment itself. It would increase the speed too.
  • #10,223
  • Aug 15, 2022 2:07pm Aug 15, 2022 2:07pm
Quoting TrAndy1
{quote} Which laws ? And when you had to look for certain type of trades or EAs or anything that could automated too, not the payment itself. It would increase the speed too.

AML/CTF to start with. You absolutely shouldn't automate payments for any financial service even if its in the grey area. I could launder so much much money via prop firms if I wanted to (FBI I am not laundering money via prop firms, just trying to make a point).
  • #10,224
  • Aug 15, 2022 2:10pm Aug 15, 2022 2:10pm
TFF is by far much faster when processing payouts. You can trade until late evening to NY fixing and then on the next morning within 8 hours the payout is already sent.
  • #10,225
  • Aug 15, 2022 2:11pm Aug 15, 2022 2:11pm
Quoting TrAndy1
TFF is by far much faster when processing payouts. You can trade until late evening to NY fixing and then on the next morning within 8 hours the payout is already sent.

TFF also pay out about 1/15 of MFF maybe even less. There was a time that MFF was same day as well when I first started with them. If you can't wait 24 hours for payout then I don't really know what to say to you. Something in your psych maybe. Even my FTMO payouts are 24 hours or so.
  • #10,226
  • Aug 15, 2022 2:15pm Aug 15, 2022 2:15pm
I am only comparing payout processing times between props. Of course I can wait one more week. That is not a problem for me as I do not depend on that money.
  • #10,227
  • Aug 15, 2022 2:25pm Aug 15, 2022 2:25pm
Quoting TrAndy1
I am only comparing payout processing times between props. Of course I can wait one more week. That is not a problem for me as I do not depend on that money.

My opinion and its just my opinion, I will kick and scream when its reaching the 48+ hour mark from any company, including my brokers. Thats enough time for them to do their due diligence, AML checks and make sure the capital is there to transfer. For brokers I might even give them another day as they might have to pull from liquidity which itself is 24 hours.
  • #10,228
  • Aug 15, 2022 2:31pm Aug 15, 2022 2:31pm
Quoting Takisd
{quote} My opinion and its just my opinion, I will kick and scream when its reaching the 48+ hour mark from any company, including my brokers. Thats enough time for them to do their due diligence, AML checks and make sure the capital is there to transfer. For brokers I might even give them another day as they might have to pull from liquidity which itself is 24 hours.
Maybe I am totally spoiled with TFF here. MFF also has the financial power to buy the ressources processing payouts as fast as possible. If I compare payouts or withdrawals from my broker IC Markets it takes less than 12 hours to get a withdraw to my Paypal account. So maybe I am spoiled here but that is my experience.
  • #10,229
  • Aug 15, 2022 2:37pm Aug 15, 2022 2:37pm
Quoting TrAndy1
TFF is by far much faster when processing payouts. You can trade until late evening to NY fixing and then on the next morning within 8 hours the payout is already sent.
In payouts there are two components to consider: down time (not being able to trade) and receiving the money

On downtime the best is TPT and Finotive.
In Finotive we can continue trading (they deduct the amount as soon as we request) and in TPT we receive new credential the same second we request the payout. No downtime in any of them, except having to close positions.
TFT is the worse, miles from the others, and TFF is not good either.

To receive money Finotive was the fastest I expericnced, as I said here, followed by TFF and TPT.

So, all in all Finotive beats everybody in this department (I'm just referring to payouts).

Myself, personally, I give much more importance to downtime.
I don't bother to wait a day or two more to receive but having the account blocked for 2 days in TFF or 3/4 days in TFT is very annoying.
  • #10,230
  • Aug 15, 2022 2:46pm Aug 15, 2022 2:46pm
For that reason I likely will not join TFTP challenges. Such long downtimes when processing payouts and you cannot trade meanwhile are certainly a no-go, as I do not before hand when I get a good setup to enter a trade. When I do a wire from Paypal, which is also a big company like ICM, than it takes about 4 hours to get the money to my bank account. So the wire from Paypal to the bank takes even less than any payouts processing times or any withdrawals from broker. I just do not get it, when they are so slow here. It is only in their best interest to serve their successful customers. But maybe they, the prop firms, are only after the fees, everything else come much more behind. That behavior of TFTP really looks like they want to put negative emotions to their successful traders, so they feel bad when they try to achieve a payout for the next time. And in case you already feel bad or think on the next delayed payout process that can take effect on ones trading success too, at least a bit.
  • #10,231
  • Aug 15, 2022 2:56pm Aug 15, 2022 2:56pm
Ok, so far it took them 23 hours to process the payout from my funded 50k account at MFF. Now I need to wait in Deel, let's see how long it takes here.
Just by the way to mention it, I took a discount for the challenge fee and got 100% back so more than the discounted fee +12% in addition to that. Same should be for any reset fees you also should get the full refund for the full fee on website + the bonus. So that is a good thing from MFF. Therefore I can wait little bit longer.
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  • #10,232
  • Aug 15, 2022 3:11pm Aug 15, 2022 3:11pm
Quoting Capablanca
In payouts there are two components to consider: down time (not being able to trade) and receiving the money
-Yes. And that's exactly the thing. It does not even have to be an automated process. Manual reviews are necessary. I get that. The issue I have is the down time. If you issue a request for withdrawal, then there should be an automated, instant process that gets you up and running so that you can continue trading while the withdrawal/review process is happening behind the scenes.
  • #10,233
  • Aug 15, 2022 3:56pm Aug 15, 2022 3:56pm
Quoting Nsak3y
{quote}-Yes. And that's exactly the thing. It does not even have to be an automated process. Manual reviews are necessary. I get that. The issue I have is the down time. If you issue a request for withdrawal, then there should be an automated, instant process that gets you up and running so that you can continue trading while the withdrawal/review process is happening behind the scenes.
Actually the score does not reflect downtimes and payout processing times. But it certainly plays a kind of role when comparing own compounding on own personal accounts. The assumption actually is, it is zero for both. But when you have to wait 2 or 3 days every bi-weekly cycle, then this is behaving like profit split cut, because in that time you do not have access to that money or you cannot trade in that time. Maybe somehow it should be reflected in a kind of additional modified score, but if anyone has suggestions how to implement it, I will take those ideas and look if it could be done easily and implemented in an objective manner. Let me know here...
  • #10,234
  • Aug 15, 2022 4:01pm Aug 15, 2022 4:01pm
Quoting TrAndy1
{quote} Maybe I am totally spoiled with TFF here. MFF also has the financial power to buy the ressources processing payouts as fast as possible. If I compare payouts or withdrawals from my broker IC Markets it takes less than 12 hours to get a withdraw to my Paypal account. So maybe I am spoiled here but that is my experience.

My ICMarkets wire is never under 24 hours. Ever..and thats to finalize the processing not the receipt. Paypal might be different, the size is probably also playing a part. I would never use paypal because the fees on the amount i withdraw is obnoxious.

MFF could buy the resources sure, but they also have so much more risk that they should take their time and make it right and correct and not rush it. If they were like they were in december, I would say MFF has a problem, but under 24 hours is good for any company.

Deel is quick, you hit withdraw and usually its processed. Depending on your payment method will depend on how long it takes but wires to me are same day from Deel.

The good thing at MFF since they put in the automation, is when the withdrawal is processing you can continue trading, so there is no downtime.
  • #10,235
  • Aug 15, 2022 4:08pm Aug 15, 2022 4:08pm
Quoting Takisd
{quote} My ICMarkets wire is never under 24 hours. Ever..and thats to finalize the processing not the receipt. Paypal might be different, the size is probably also playing a part. I would never use paypal because the fees on the amount i withdraw is obnoxious.
You really pay fees when making withdrawal from ICM to Paypal ? I pay zero fees because both accounts have the same currency. Then you pay nothing I would say.
  • #10,236
  • Aug 15, 2022 4:12pm Aug 15, 2022 4:12pm
Quoting Nsak3y
{quote}-Yes. And that's exactly the thing. It does not even have to be an automated process. Manual reviews are necessary. I get that. The issue I have is the down time. If you issue a request for withdrawal, then there should be an automated, instant process that gets you up and running so that you can continue trading while the withdrawal/review process is happening behind the scenes.
Agree 100%. I know the money is coming. 24 hours is no biggie. Even if it pushed up against 48, no issue. However, I do need to be working on my next payout immediately. This is one of the benefits of multiple firms, while waiting on one, can be trading in another. Still, no reason, the "reset" cannot be automated and immediate.
  • #10,237
  • Aug 15, 2022 4:26pm Aug 15, 2022 4:26pm
It is not that easy from a math point. Because payout processing time can matter a lot. When you have a large payout which is substantial, say in the region of the max. Drawdown you can trade with on your funded account, then it does matter if you get it within 1 day or 3 days. Because in that time you cannot 'use' that money for own compounding on an own personal account, as the score is measured here. Of course when thay payout is usually not that big, it does not matter much. Then only the downtime would be real killer, as you do not have access to your valued capital in terms of your max. Drawdown to increase your profits for the next payout cycle.
  • #10,238
  • Aug 15, 2022 4:36pm Aug 15, 2022 4:36pm
Quoting Takisd
{quote} My ICMarkets wire is never under 24 hours. Ever..and thats to finalize the processing not the receipt. Paypal might be different, the size is probably also playing a part. I would never use paypal because the fees on the amount i withdraw is obnoxious. MFF could buy the resources sure, but they also have so much more risk that they should take their time and make it right and correct and not rush it. If they were like they were in december, I would say MFF has a problem, but under 24 hours is good for any company. Deel is quick, you hit...
From Deel to Revolut or Wise is pretty much instantaneous (almost)
  • #10,239
  • Aug 15, 2022 4:41pm Aug 15, 2022 4:41pm
Finally payout received after 1 h 45 min after initiating Deel from MFF to arrived. Only FX+Gold I have traded. There is an exchange fee from USD to EUR in Deel too.
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  • #10,240
  • Aug 15, 2022 4:52pm Aug 15, 2022 4:52pm
Quoting TrAndy1
{quote} You really pay fees when making withdrawal from ICM to Paypal ? I pay zero fees because both accounts have the same currency. Then you pay nothing I would say.

Paypal to my bank account is like 3%.

PS I bought another TFF account due to this conversation.
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