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  • #10,241
  • Aug 15, 2022 6:35pm Aug 15, 2022 6:35pm
Got my 4th payout from TFF today. No laughing it's only a 10K account. Not bad for two weeks though.

Sent to DEEL about 4 hours after the trading cutoff. Requested a wire transfer from DEEL this morning and it arrived in my bank account in 5 hours. Pretty fast and super smooth.

Still no credentials from TFF for the new account but I don't really care as I have other accounts to manage anyways.
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DISCLAIMER: Certificate has been photoshopped
Pride always comes before destruction.... -Proverbs 16:18
  • #10,242
  • Aug 15, 2022 10:22pm Aug 15, 2022 10:22pm
Hi I am curious, why isn't MFF more popular than FTMO?

MFF only has a target of 8% and allows a drawdown of 12%. This is more flexible than FTMO, isn't it?

Thanks, appreciated.
  • #10,243
  • Aug 15, 2022 11:18pm Aug 15, 2022 11:18pm
The eff-bee-aye post cracked me up

MFF could take a while to process payouts on occasion, I did 5 figures last month and had to wait a week after the request to receive payout confirmation, (I guess the billing dept was super swamped)..the up side is you can keep trading while waiting..and they will get things sorted, which at the end of the day is the most important thing.

Best working conditions are multiple accounts across multiple firms like PipMaster suggests..
  • #10,244
  • Aug 15, 2022 11:18pm Aug 15, 2022 11:18pm
Quoting RaptorTrader
Hi I am curious, why isn't MFF more popular than FTMO? MFF only has a target of 8% and allows a drawdown of 12%. This is more flexible than FTMO, isn't it? Thanks, appreciated.
Whoever loses 10% ,will certainly lose 12%. Whoever achieves 8% can also achieve 10%.
  • #10,245
  • Aug 15, 2022 11:42pm Aug 15, 2022 11:42pm
Quoting RaptorTrader
Hi I am curious, why isn't MFF more popular than FTMO? MFF only has a target of 8% and allows a drawdown of 12%. This is more flexible than FTMO, isn't it? Thanks, appreciated.
FTMO is a fantastic firm, but MFF in my opinion is way better than FTMO, though not everyone might have that perspective. I don't know if the claim that MFF is less popular is accurate, but if it were I'd put it down to marketing..
  • #10,246
  • Aug 16, 2022 1:27am Aug 16, 2022 1:27am
Quoting Takisd
{quote} Paypal to my bank account is like 3%. PS I bought another TFF account due to this conversation.
You are again wrong. Maybe you learn something now. Paypal to my bank acount is ZERO fees, because both have same currency. If you always convert your money into different currencies yon only pay lots of fees. Same with ICM to Paypal it is zero fees in case they are both same currency. I use Euro for all accounts. So you really pay international wire fees when doing withdrawals from ICM to your bank account, and in addition you wait also longer to get your money ? Here you got shortcut now.
  • #10,247
  • Aug 16, 2022 1:54am Aug 16, 2022 1:54am
Quoting TrAndy1
{quote} You are again wrong. Maybe you learn something now. Paypal to my bank acount is ZERO fees, because both have same currency. If you always convert your money into different currencies yon only pay lots of fees. Same with ICM to Paypal it is zero fees in case they are both same currency. I use Euro for all accounts. So you really pay international wire fees when doing withdrawals from ICM to your bank account, and in addition you wait also longer to get your money ? Here you got shortcut now.
I withdrew from Paypal to my bank account only a few times but the fact is I'm not aware of paying any fee for that. But another fact is I never thought of withdrawing in any other currency then the Paypal balance because the exchange rate offered by Paypal was always way worse then of my bank.
Money is made by sitting, not trading
  • #10,248
  • Aug 16, 2022 2:44am Aug 16, 2022 2:44am
Quoting TrAndy1
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. {image}
The setup I have to avoid paying that is:
1. Receive USD payouts in Deel
2. Transfer Deel -> Revolut in USD (free)
3. Convert USD->EUR in Revolut. The exchange rate is the spot (market) one, really good.
In Revolut you pay no commissions for convert up to 1000 GBP per month, except during weekends.
I have subscribed Premium at Revolut so I don't even have the 1000 GBP limit in the free exchange.

An alternative is to use Deel virtual card to pay for new challenges in USD. This way it's all USD so no commissions.
  • #10,249
  • Aug 16, 2022 3:43am Aug 16, 2022 3:43am
Quoting Capablanca
{quote} The setup I have to avoid paying that is: 1. Receive USD payouts in Deel 2. Transfer Deel -> Revolut in USD (free) 3. Convert USD->EUR in Revolut. The exchange rate is the spot (market) one, really good. In Revolut you pay no commissions for convert up to 1000 GBP per month, except during weekends. I have subscribed Premium at Revolut so I don't even have the 1000 GBP limit in the free exchange. An alternative is to use Deel virtual card to pay for new challenges in USD. This way it's all USD so no commissions.
So with Revolut Premium there is no limit at all for currency conversion without having fees ? Second, Revolut is UK I think. So can you SEPA wire cost free to EU bank?
  • #10,250
  • Aug 16, 2022 3:50am Aug 16, 2022 3:50am
Does TFF has recently credit card payment processing problems ? Because my order is processing for several hours now, getting no credentials, have not seen before.
  • #10,251
  • Aug 16, 2022 3:53am Aug 16, 2022 3:53am
Quoting TrAndy1
{quote} You are again wrong. Maybe you learn something now. Paypal to my bank acount is ZERO fees, because both have same currency. If you always convert your money into different currencies yon only pay lots of fees. Same with ICM to Paypal it is zero fees in case they are both same currency. I use Euro for all accounts. So you really pay international wire fees when doing withdrawals from ICM to your bank account, and in addition you wait also longer to get your money ? Here you got shortcut now.

Paypal doesn't have fee free bank wires in my country. They only have it in specific countries like US and Germany, but thanks for being a douchebag about it.
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  • #10,252
  • Aug 16, 2022 4:03am Aug 16, 2022 4:03am
Quoting Takisd
{quote} Paypal doesn't have fee free bank wires in my country. They only have it in specific countries like US and Germany, but thanks.
What prevents you then from opening a simple bank account in Germany. Then you pay ZERO fees and you still get your money faster instead of doing an international wire from ICM to you bank account in Greece. And SEPA wires from Germany to Greece are free of any cost regardless of the amount. But of course you can pay more.
  • #10,253
  • Aug 16, 2022 4:03am Aug 16, 2022 4:03am
Quoting Takisd
{quote} Paypal doesn't have fee free bank wires in my country. They only have it in specific countries like US and Germany, but thanks for being a douchebag about it. {image}
That's daylight robbery FFS! 3% for a wire?!
Did you try Wise or Revolut? Even with currency conversion you'd pay a fraction of that.
  • #10,254
  • Aug 16, 2022 4:09am Aug 16, 2022 4:09am
Quoting TrAndy1
{quote} What prevents you then from opening a simple bank account in Germany. Then you pay ZERO fees and you still get your money faster instead of doing an international wire from ICM to you bank account in Greece. And SEPA wires from Germany to Greece are free of any cost regardless of the amount. But of course you can pay more.
1) I'm a corporation
2) I have no interest in being inside the German system.

You have basically suggested in order to not spend 30$ on a 6 figure withdrawal I should fly to germany, open a bank account, comply with said bank account just to use an american corporation known for freezing large dollar value accounts.

Theres a 100x better solution and thats wise.com
  • #10,255
  • Aug 16, 2022 4:23am Aug 16, 2022 4:23am
Quoting Takisd
{quote} 1) I'm a corporation
...and what are the reasons you are a corporation when you only trade for yourself with offering no services to customers or being non-commercial ? Missing something here. Because if you do consulting for prop firms then trading for your own is something totally different and would have nothing to do with that kind of consulting. Also I think you should pay more taxes when you trade for your corporation instead of doing it only in private manner. Taxes are EU wide about 25% for trading but PRIVATE.
  • #10,256
  • Aug 16, 2022 4:28am Aug 16, 2022 4:28am
Quoting TrAndy1
{quote} ...and what are the reasons you are a corporation when you only trade for yourself with offering no services to customers or being non-commercial ? Missing something.

There are low dividend taxes in my country. Actually most people who earn lots of money operate as a corporation as there are numerous benefits. Contact your accountant for more information.
  • #10,257
  • Aug 16, 2022 4:39am Aug 16, 2022 4:39am
Quoting Takisd
{quote} There are low dividend taxes in my country. Actually most people who earn lots of money operate as a corporation as there are numerous benefits. Contact your accountant for more information.
Already done. Cannot do it here in Germany. I pay here 42% on taxes with corporation or having a firm. Trading privately is only 25% tax. I had to give up my residency and in addition I had to live at least 183 days of a year outside of my country to that other residency in a different country to could obtain lower taxes than the 25% tax.
  • #10,258
  • Aug 16, 2022 4:51am Aug 16, 2022 4:51am
Quoting TrAndy1
{quote} Already done. Cannot do it here in Germany. I pay here 42% on taxes with corporation or having a firm. Trading privately is only 25% tax. I had to give up my residency and in addition I had to live at least 183 days of a year outside of my country to that other residency in a different country to could obtain lower taxes than the 25% tax.
Then i definitely don't want to have accounts or anything financial in Germany.
  • #10,259
  • Edited 7:49am Aug 16, 2022 5:10am | Edited 7:49am
Quoting TrAndy1
{quote} ...and what are the reasons you are a corporation when you only trade for yourself with offering no services to customers or being non-commercial ? Missing something here. Because if you do consulting for prop firms then trading for your own is something totally different and would have nothing to do with that kind of consulting. Also I think you should pay more taxes when you trade for your corporation instead of doing it only in private manner. Taxes are EU wide about 25% for trading but PRIVATE.
I think the jurisdiction would most likely be different in different countries. In some countries you can pay as low as 15% only for trading your own private account
Money is made by sitting, not trading
  • #10,260
  • Aug 16, 2022 5:30am Aug 16, 2022 5:30am
Quoting TrAndy1
{quote} So with Revolut Premium there is no limit at all for currency conversion without having fees ? Second, Revolut is UK I think. So can you SEPA wire cost free to EU bank?
Yes with Premium (except weekends). Yes free wire to my (european) country (free SEPA)
Premium has an annual plan which is lower than the monthly fee.

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