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Anyone trading with a Prop firm 2 replies

prop firm new model - my trading journey 869 replies

So I accepted a Prop Trading job in South Beach Miami 43 replies

Attachments: Prop Firm Hub
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Prop Firm Hub

From MFF Discord:

To address some rumors that are false being circulated about our company, a sort of re-clarification if you will.
We had a group of people in Pakistan using other peoples ID's in order to operate trading accounts.
We had no option but to pause our services from the country of Pakistan.
All existing users on live accounts FROM PAKISTAN and ONLY FROM PAKISTAN are doing identity and experience checks on their trading.
This process has enabled us to continue working with the legitimate members from this country and remove some salacious members. Recently we interviewed a person from Pakistan who was asking for answers from another person during the interview. We offered to refund their account as it was obvious they were not the trader on the account. Ultimately that action has lead to this clarification.
I would like to re-assure everyone that the only traders who are a part of this process are from the country of PAKISTAN.


One has to be very dumb to accept being interviewed and not being even the one trading the account.
Quoting symmtrytradr
But they have a trailing drawdown model. If they changed to fixed drawdown I think they would be very competitive.
-Just looked. It seems that this applies to max draw-down? Maybe it is not so bad. I personally believe that most traders are failing due to daily draw-down breach. If we consider the 150K aggressive, you get 15K daily and 30K max. I think, even if you profit 10K on the account, having 30K of max draw-down in lieu of the 40K is not so bad. It would certainly be better for the firm's survivability. I wonder if you would be able to withdraw the 10K profit, though?

Quoting Eren10
What you get is a new challenge account to go through phases 1, 2 again. So not interesting.
-I believe that you have the option to choose between a free retry (in case you fail), or, double your account balance (if you pass), which basically is like getting a free account without having to take another challenge. Are you seeing something different from this?
Quoting Nsak3y
I believe that you have the option to choose between a free retry (in case you fail), or, double your account balance (if you pass), which basically is like getting a free account without having to take another challenge. Are you seeing something different from this?

I have asked this today to them and I got this answer. You get a chance to double the account by doing the test again. So nothing new.
Quoting Capablanca
From MFF Discord: To address some rumors that are false being circulated about our company, a sort of re-clarification if you will. We had a group of people in Pakistan using other peoples ID's in order to operate trading accounts. We had no option but to pause our services from the country of Pakistan. All existing users on live accounts FROM PAKISTAN and ONLY FROM PAKISTAN are doing identity and experience checks on their trading. This process has enabled us to continue working with the legitimate members from this country and remove some salacious...

You have to be an asshole as well to use fund managers/pass douchebags and think you aren't breaking rules as well. He like triple broke the rules and made a fool of himself and then started spamming in discord (I Was there at the time) the email he was sent. It was really stupid.
Just want to report 11 points of positive slippage on US30 with TFTP. They are not out to get us, slippage works both ways.
Quoting Eren10
I have asked this today to them and I got this answer. You get a chance to double the account by doing the test again. So nothing new.
-Thank you for pointing this out. Please see below:

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Hello.

Maybe someone was on the TFF discord server this weekend?
Now ds server is closed and looks like if not forever, then for a long time.
What happened there? Can't say that I like this decision...
Quoting Nihi
Hello. Maybe someone was on the TFF discord server this weekend? Now ds server is closed and looks like if not forever, then for a long time. What happened there? Can't say that I like this decision...
I have noticed it as well, asked the support via online chat but they didn't answer my questions. They only confirmed it's closed (without stating for how long) and that their online chat still works as usual. Strange.
As far as I heard they also had extraordinary long payment processing times for new challenges during the day but issued the accounts eventually.
Even a broken clock is right twice a day
Quoting Vitore
{quote} I have noticed it as well, asked the support via online chat but they didn't answer my questions. They only confirmed it's closed (without stating for how long) and that their online chat still works as usual. Strange. As far as I heard they also had extraordinary long payment processing times for new challenges during the day but issued the accounts eventually.
I passed a phase 2 with them on Thursday. Didn't get my live until today. No biggie, i didn't trade on Friday anyway. However, last time I got my live from them in under 24 hours.
Quoting Nihi
Hello. Maybe someone was on the TFF discord server this weekend? Now ds server is closed and looks like if not forever, then for a long time. What happened there? Can't say that I like this decision...
Hummmm.... seems they closed the general chat in Discord, as well as the support chat. They're saying for people to go to their website chat if they need assistance.
I remember some cockfight between a few traders(if they even funded) there the last few days, but I wasn't there over the weekend.

There were no problems with them except for index quote lags. Always fast support and payouts. My next payout day is coming soon, I hope they are well. They are clearly working on improving the service, I like the new dashboard and payout system, but I'm not a fan of closing discord server.

Also i spoke to support
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Quoting pipmaster77
Just want to report 11 points of positive slippage on US30 with TFTP. They are not out to get us, slippage works both ways.
Slippage is normal and should be expected. A trader should be concerned when abnormal amounts of slippage during quiet trading hours occurs.
Which prop firms actually use Pepperstone or IC Markets?
If you're not architecting, you're building someone else's plan.
Happy giving away US oil reserves to buy votes day everyone.
Quoting Vitore
https://traderswithedge.com/challenges/ My understanding was this applies for funded account as well and all trades, not only for passing the challenge, but maybe I'm wrong
-So, after a lot of back-and-forth, I was finally able to get the to the truth regarding this rule. It seems that the lot consistency rule applies to everything, which is, of course, very disappointing. However, I was told that for funded accounts, this rule will not be so black-and-white, and that they would not be so strict with it, depending on the situation. So, I guess we can just trust them on that (sarcasm).

I strongly suggested that they reconsider this rule. Not only is it unnecessary, but it creates unnecessary, added pressure and distractions for traders. Furthermore, such ambiguous and loosely-defined rules allow for firms to easily drop traders even if they do not violate the draw-down allowances. This is not only discouraging for traders, but it makes it all the more difficult to trust a firm that insists on starting business together on bad footing.

All of that being said, I am hopeful that the founder will reconsider this rule. I have even made a suggestion about how to do that so that everyone can benefit. However, if my past experience with other firms is any indication, then likely, my suggestion will not be considered at all.

I do think that the offerings that are being provided by this firm are still good, so long as you can get past this lot consistency rule. For me, personally, I know that I can work around it easily enough, but whether or not I would want to is the question.
Quoting Eren10
I have asked this today to them and I got this answer. You get a chance to double the account by doing the test again. So nothing new.
-I received final word regarding this matter. Per their support, management has confirmed that the 'double your capital' bonus is, in fact, just a free challenge account. I was told that they would revise their website to reflect this.

It is frustrating. FTMO recently launched a promo that was grossly misleading. I cannot say what motives Traders With Edge has, but the fact remains that their website is misleading, whether they intended for that or not. And now this nonsense with Fidelcrest.

It is whatever, I suppose.
Quoting Takisd
Happy giving away US oil reserves to buy votes day everyone.
Yes, what a fucking disaster this country is. I hope all of the idiots that voted for this are happy. Wide open borders, crime running rampant, shit, Illinois is letting prisoners out of jail on Jan.1...violent criminals. Guy did nothing right in 40 years in politics.....but hey criminals, drug dealers and transgenders are happy.....so we got that going for us!
Quoting Nsak3y
{quote}-So, after a lot of back-and-forth, I was finally able to get the to the truth regarding this rule. It seems that the lot consistency rule applies to everything, which is, of course, very disappointing. However, I was told that for funded accounts, this rule will not be so black-and-white, and that they would not be so strict with it, depending on the situation. So, I guess we can just trust them on that (sarcasm). I strongly suggested that they reconsider this rule. Not only is it unnecessary, but it creates unnecessary, added pressure and...
This is another reason I stick to the models where it is black and white......earn x % within x time, do not lose more than x overall or x daily. Other than that, we don't care how you do it. Same 5-6 firms EVERY TIME.....good value, impeccable payout history, good trading conditions, straight forward rules.
Quoting pipmaster77
{quote} This is another reason I stick to the models where it is black and white......earn x % within x time, do not lose more than x overall or x daily. Other than that, we don't care how you do it. Same 5-6 firms EVERY TIME.....good value, impeccable payout history, good trading conditions, straight forward rules.
Bizarre that new companies show up in the arena with worse or more restrictive conditions than the existing ones and expect to succeed.
Quoting Capablanca
Bizarre that new companies show up in the arena with worse or more restrictive conditions than the existing ones and expect to succeed.
-I suppose that in the case of TWE, they do have some unique offerings, even if as a trade-off. It does not seem overly unreasonable.

As far as other, cookie-cutter-type firms, I guess that they are just trying to capture a small piece of the pie. I agree with you, though, in general terms, that newer firms should try to offer something different and/or better.
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