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  • #11,081
  • Sep 30, 2022 7:17am Sep 30, 2022 7:17am
Quoting TrAndy1
{quote} Maybe you can setup an offshore company with a bank account and credit card somewhere else out of your country. For setup cost you must look, many competitors.
could u please inbox me any firms name or any video which can help me . i need some stable solution
  • #11,082
  • Sep 30, 2022 8:47am Sep 30, 2022 8:47am
Quoting inversio
{quote} could u please inbox me any firms name or any video which can help me . i need some stable solution
Sorry, I do not have connections or extensive knowledge in that field. You must google search yourself. Or ask other enterpreneurs here or in your near environment.
  • #11,083
  • Sep 30, 2022 11:45am Sep 30, 2022 11:45am
Quoting inversio
{quote} thnx for info , unfortunately we don't have this also. bcz of our govt rules skirll also restricted our country to provide regular + virtual card. very tough to trade from here
Have you tried Wise?

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Once you have got acc. with them, you can get virtual debit card which is standard Visa.

There are few other reputable bank account providers like Wise. E.g. Revolut etc.
  • #11,084
  • Sep 30, 2022 12:16pm Sep 30, 2022 12:16pm
Quoting inversio
{quote} could u please inbox me any firms name or any video which can help me . i need some stable solution

If you can affford it offshorelicense.com is good. But to do these set ups its generally like 6-10k for a basic set up.

My company set up + bank account was about 16k and its 4k a year to maintain properly.
  • #11,085
  • Sep 30, 2022 2:48pm Sep 30, 2022 2:48pm
Quoting inversio
dose anyone know which reliable propfirm takes payment through skrill other than FTMO, I'm from banfladesh cant use my card due to restriction and cant convert my skrills to BTC as well
-It seems that even cryptocurrency cannot be exchanged in your country. If you are so restricted by your government, is leaving the country a possibility?

You could maybe look into establishing a foreign company, or, look into partnering with someone from outside of your country; either an individual or business entity, that will set up accounts in their name and pay you a percentage of what you earn on the accounts. Not ideal, but better than nothing.

It is very unfortunate that some people are not afforded the same opportunities simply because of their country of residence/origin. It is all relative, but for me, if things became too overly restrictive where I currently live, then I have already accepted the idea of dual citizenship or renunciation as a possible solution.

That being said, you could always try asking if the prop would be willing to provide special accommodations due to your limited available options imposed by your government, but I would not expect too much.
  • #11,086
  • Sep 30, 2022 2:55pm Sep 30, 2022 2:55pm
Quoting Takisd
{quote} If you can affford it offshorelicense.com is good. But to do these set ups its generally like 6-10k for a basic set up. My company set up + bank account was about 16k and its 4k a year to maintain properly.

that's a lot, cant afford now, any exchange site where can I exchange currencies or coins

saw few on net but don't have any idea which one is legitimate..

want to join mff 300k slot failed to manage btc, only have perfect money on my acc.
  • #11,087
  • Sep 30, 2022 4:48pm Sep 30, 2022 4:48pm
Quoting inversio
dose anyone know which reliable propfirm takes payment through skrill other than FTMO, I'm from banfladesh cant use my card due to restriction and cant convert my skrills to BTC as well
You can try using a vpn and sigining up with binance to pay with cyrpto. The app is blocked in my country but i use it with a vpn set to the UK to use crypto.
  • #11,088
  • Edited 12:18pm Oct 1, 2022 2:37am | Edited 12:18pm
Quoting inversio
{quote} that's a lot, cant afford now, any exchange site where can I exchange currencies or coins saw few on net but don't have any idea which one is legitimate.. want to join mff 300k slot failed to manage btc, only have perfect money on my acc.
Founding an offshore company for this purpose is utter nonsense. It is not worth it unless you are the billionaire. Offshore companies are mostly used for tax optimization.
What you need is just a regular bank account from a reputable company available for your country.

Quoting Inception12
{quote} You can try using a vpn and sigining up with binance to pay with cyrpto. The app is blocked in my country but i use it with a vpn set to the UK to use crypto.
I'm uncertain if this will work, most of the exchanges performing KYC and AML screenings these days. Maybe not when one creates an account, but for allowing of withdrawals later for sure.
  • #11,089
  • Oct 2, 2022 3:59am Oct 2, 2022 3:59am
Quoting inversio
{quote} that's a lot, cant afford now, any exchange site where can I exchange currencies or coins saw few on net but don't have any idea which one is legitimate.. want to join mff 300k slot failed to manage btc, only have perfect money on my acc.

The Revolut is seemingly also available for Bangladeshis.
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  • #11,090
  • Oct 2, 2022 4:08am Oct 2, 2022 4:08am
Hi Guys, I'd like some advice please.
Between MFF and TFF which is better in terms of spreads, comm and all round trading rules.
I want to buy the 50K challenge. Both have the same pricing for this challenge.
  • #11,091
  • Oct 2, 2022 5:41am Oct 2, 2022 5:41am
Quoting Lrg
Hi Guys, I'd like some advice please. Between MFF and TFF which is better in terms of spreads, comm and all round trading rules. I want to buy the 50K challenge. Both have the same pricing for this challenge.
You get more value on MFF, but it also depends on your trading style and what do you trade. So my question would be do you daytrade only ? What instruments ? How?
  • #11,092
  • Oct 2, 2022 6:18am Oct 2, 2022 6:18am
Quoting TrAndy1
{quote} You get more value on MFF, but it also depends on your trading style and what do you trade. So my question would be do you daytrade only ? What instruments ? How?
Thanks TrAndy.
Day trade forex only at this stage.
  • #11,093
  • Oct 2, 2022 6:20am Oct 2, 2022 6:20am
Quoting Lrg
{quote} Thanks TrAndy. Day trade forex only at this stage.

They are pretty much the same for forex trading. There is no real difference between the two other than length of existence.
  • #11,094
  • Oct 2, 2022 6:27am Oct 2, 2022 6:27am
Quoting Lrg
{quote} Thanks TrAndy. Day trade forex only at this stage.
Then it only depends how confident you are in getting a payout when funded. Because TFF has only a 2 weeks waiting period when funded and MFF has 31 days. Myself I would prefer TFF over MFF because I have the chance to compound much earlier with TFF than MFF with reinvesting profits in new challenges. But MFF has more value.
  • #11,095
  • Oct 2, 2022 6:29am Oct 2, 2022 6:29am
Quoting TrAndy1
{quote} Then it only depends how confident you are in getting a payout when funded. Because TFF has only a 2 weeks waiting period when funded and MFF has 31 days. Myself I would prefer TFF over MFF because I have the chance to compound much earlier with TFF than MFF with reinvesting profits in new challenges. But MFF has more value.
And MFF has 75% payout in first month while TFF is 80% from the beginning.
On the other hand MFF achieved 85% later and also has the bonus of in challenges, which can be nice.
Spreads in TFF are better (close to zero in EURUSD, for example, out of news periods). Commissions are worse, though. 3 USD per lot in MFF and 7 USD in TFF.
  • #11,096
  • Oct 2, 2022 7:07am Oct 2, 2022 7:07am
Thanks TrAndy1 and Capablanca, I really appreciate your input..
  • #11,097
  • Oct 2, 2022 7:18am Oct 2, 2022 7:18am
Can anybody who knows how this prop business really works shed a light on this?

The5ers they offer payout 100/0 from higher levels. What's the business rationale behind that? Do they think that no one will really reach the funding level, and so it works only as bite, or am I missing something here?
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  • #11,098
  • Oct 2, 2022 7:36am Oct 2, 2022 7:36am
Quoting mcquak
Can anybody who knows how this prop business really works shed a light on this? The5ers they offer payout 100/0 from higher levels. What's the business rationale behind that? Do they think that no one will really reach the funding level, and so it works only as bite, or am I missing something here? {image}
There are many answers here to overcome this. But one is they just could overhedge their positions when copy trading the profitable trader, thus making excess profits.
  • #11,099
  • Oct 2, 2022 7:42am Oct 2, 2022 7:42am
There are some serious rumours doing the rounds about a major bank failure
October about to start with a disaster?
Adam Button, Sunday, 02/10/2022 | 02:12 GMT+2

ABC Australia is reporting that a major investment bank is on the brink, citing 'a credible source'.
Most are pointing towards Credit Suisse. It was caught out in the Archegos disaster and since then (Feb 2021) its share price has spiralled to $3.90 from $14.90.

Moreover, the credit default swaps are at distressed levels.

A memo from the CEO to staff circulated late on Friday:
"I know it's not easy to remain focused amid the many stories you read in the media – in particular, given the many factually inaccurate statements being made. That said, I trust that you are not confusing our day-to-day stock price performance with the strong capital base and liquidity position of the bank," he wrote.

Today, Fox Business' Charlie Gasparino reported that:
"CEO Ulrich Koerner has been meeting w major institutional investors worried the firm is on shaky financial footing and assuring them the bank has strong capital, liquidity etc. One large investor tells me "the bank and wealth management platform are very valuable, but the investment bank is a disaster." The CDS's of the bank have been trading as if a Lehman Moment was about to hit."

This could lead to an ugly open tomorrow and something far worse if it proves to be true.
The bank will have to effective refute this in the strongest possible fashion, otherwise they'll have clients pulling money and couter-parties cutting credit lines.

Rumours like these can be self-fulfilling.
We've already got an inflation crisis and an energy crisis. How about a banking crisis too?
  • #11,100
  • Oct 2, 2022 7:50am Oct 2, 2022 7:50am
FYI
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