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  • #12,881
  • Dec 10, 2022 1:08am Dec 10, 2022 1:08am
Quoting sampat
{quote} It is just an excuse. ASIC wont put gun on head and tell you to stop immediately. Usually there is a notice period.
No C&D notices listed on the ASIC website....

maahome
  • #12,882
  • Dec 10, 2022 1:16am Dec 10, 2022 1:16am
yesterday's message on discord **NOTICE**
Hi guys!
Due to the exceptionally **high volume of withdrawal requests this week**, the team was unable to complete some account reviews. We are aiming to finalize all reviews and respond to all requests early next week.
We apologize for the delay and appreciate both your support and understanding.
The Prop Trading Team

And today they got notice
  • #12,883
  • Dec 10, 2022 1:31am Dec 10, 2022 1:31am
Quoting sampat
yesterday's message on discord **NOTICE** Hi guys! Due to the exceptionally **high volume of withdrawal requests this week**, the team was unable to complete some account reviews. We are aiming to finalize all reviews and respond to all requests early next week. We apologize for the delay and appreciate both your support and understanding. The Prop Trading Team And today they got notice
allegedly got notice
  • #12,884
  • Dec 10, 2022 4:58am Dec 10, 2022 4:58am
Nothing but punks. Good riddance TPT.
  • #12,885
  • Dec 10, 2022 6:59am Dec 10, 2022 6:59am
Quoting sampat
yesterday's message on discord **NOTICE** Hi guys! Due to the exceptionally **high volume of withdrawal requests this week**, the team was unable to complete some account reviews. We are aiming to finalize all reviews and respond to all requests early next week. We apologize for the delay and appreciate both your support and understanding. The Prop Trading Team And today they got notice
And Discord disabled for new messages (last one posted in the general chat is from yesterday). RIP TPT

No surprise. We started to see more claims in the last couple of weeks, both here and in Trust Pilot, base in generic rules that can be used for anything.
  • #12,886
  • Dec 10, 2022 7:00am Dec 10, 2022 7:00am
TPT is a warning sign I think. Their model was no different to TFF, TFTP, e8, FCFF, and so on so forth. Marketing without knowledge.
  • #12,887
  • Dec 10, 2022 7:06am Dec 10, 2022 7:06am
Quoting Takisd
TPT is a warning sign I think. Their model was no different to TFF, TFTP, e8, FCFF, and so on so forth. Marketing without knowledge.
With some companies probably the best strategy is not to look for a long term relation but, instead, to hit them as quickly and big as we can, while they don't go down.
  • #12,888
  • Dec 10, 2022 7:09am Dec 10, 2022 7:09am
Quoting Nsak3y
I am just asking whether or not the error/correction caused the account to violate. If it did, then they should obviously make things right. I
Yep, you can see there a print screen of their dashboard showing that there was no violation. Trader even stop trading a couple of days before payout.
After LP corrected swaps that cause a PAST violation.
  • #12,889
  • Dec 10, 2022 7:47am Dec 10, 2022 7:47am
I see a lot of crying about fundyourfx as well in some places.
  • #12,890
  • Dec 10, 2022 8:08am Dec 10, 2022 8:08am
Quoting profitfarmer
{quote} 12 a dozen reason to change to commercial? at 11 now... why the big love for a firm, but not posting a remote hint to even actually trade with them, just promotion? maybe not everyone noticed, but it is getting old. {image} save the BS, i dont care your love! Z

I care less about your love or that of your acolytes. And I shall continue to flag up the site since I think they are a great UK based firm. People in the UK might be interested in such a firm in their own country. You and your acolytes repetitively promote your favourites, so I shall do likewise. It's called "Free Speech" here in the West. Therefore, I shall ignore your witch hunt and continue to occasionally promote the firm.
To the the non "mob" followers here, I will simply say," try the firm and see what you think.
https://www.fundedtradingplus.com/
https://www.fundedtradingplus.com/blog/
https://discord.com/channels/9094637...63758550757388

Enjoy.
every Saint has a past. Every Sinner has a Future
  • #12,891
  • Dec 10, 2022 8:15am Dec 10, 2022 8:15am
Hey guys
TPT has problem.
Does not mean other firms have no problem
Does not mean MFF and FTMO has no problem.
FTMO had recently payout issues.
So let us conclude, TPT has problem today on paper.
Others on paper have no issues. Let us go with that and make money as much as possible.
Let us not conclude others also too bad or will become bad except MFF and FTMO.
The idea of this thread is to discuss current good and bad aspects so that everybody is aware what is happening around.
Not future problems.
Intraday only.
  • #12,892
  • Dec 10, 2022 8:27am Dec 10, 2022 8:27am
Quoting turnip15
{quote} I care less about your love or that of your acolytes. And I shall continue to flag up the site since I think they are a great UK based firm. People in the UK might be interested in such a firm in their own country. You and your acolytes repetitively promote your favourites, so I shall do likewise. It's called "Free Speech" here in the West. Therefore, I shall ignore your witch hunt and continue to occasionally promote the firm. To the the non "mob" followers here, I will simply say," try the firm and see what you think. https://www.fundedtradingplus.com/...

3 links? excessive.
  • #12,893
  • Dec 10, 2022 9:05am Dec 10, 2022 9:05am
No one knows how the funding companies operate and what reasons make them go fault.
They survive purely by collecting fees?
Or
Do they copy trade with fx brokers and make money for first and Or second Income?
No one has calculations but the failure of prop firms could be due to :
1. Mismanaging income and expenses
2. Offering too much to attract new clients.

This is my opinion only bit could be much more.
Intraday only.
  • #12,894
  • Dec 10, 2022 9:05am Dec 10, 2022 9:05am
Quoting navk
The idea of this thread is to discuss current good and bad aspects so that everybody is aware what is happening around. Not future problems.
-I agree, but it is also important to consider and discuss future possibilities because it can help in determining what to look out for so that we can prepare and plan accordingly.

Just like any business or investment, you must consider future (and external) potentials, not only as a way to gauge value, but also risk.

That being said, when looking at the future of remote props, perhaps we may see a decline over time. This will likely come in the form of less-desirable offerings (more rules, longer terms etc.), thus resulting in fewer participants. The only way that I see firms avoiding this are those that are successfully able to generate sufficient profit through other, various and clever means.

I could very well be wrong about this (and hopefully so), since I can only speculate about the real numbers. We should make the best of the current opportunities, in any case. This is not doom-and-gloom prophesy, just trying to view things pragmatically.
  • #12,895
  • Dec 10, 2022 9:07am Dec 10, 2022 9:07am
Quoting navk
This is my opinion only bit could be much more.
- I think that in the case of TPT, part of the problem was likely due to the fact that their trading conditions were not realistic, at least, assuming that I am remembering correctly. I believe that someone stated that they did not experience any slippage whatsoever with them.
  • #12,896
  • Dec 10, 2022 9:08am Dec 10, 2022 9:08am
Quoting Takisd
TPT is a warning sign I think. Their model was no different to TFF, TFTP, e8, FCFF, and so on so forth. Marketing without knowledge.
So in the pat month or so, TPT, FTMO and recently TFF have ether had payout issues or pulled some shady shit. ONLY MFF, TFTP and E8 have not had any issues whatsoever posted here. FTMO is a surprise to me, the other two not so much. As stated above, nothing on ASIC. That is complete bullshit. It was a poorly run, questionable (at best) company from the beginning. If you recall, they were trying to tax payouts in the beginning. They have changed and modified rules as they went along. Poorly run companies always fail eventually. The firms in this space, unfortunately know they have the out of "it was the regulators". Total crock of shit I do not believe for one second.
Two of the companies NOT having issues are HQ in the US. Trust me, if it was a regulator issue, they would be first to go.
  • #12,897
  • Dec 10, 2022 9:13am Dec 10, 2022 9:13am
This year has been awful for risk book entities. Brokers, MM's etc. Its not surprise that propfirms are having some trouble. Its a prolonged period of lowered revenues. Not because of less traders, quite the contrary, but because its been far easier to make money this year and if you are operating a b-book model or dont have correct risk experience, you are on a tight thread.

It is my hope that like during FT, this is it, no others. But I believe blufx? has gotten a letter from the US regulator (I might be misquoting which company it is) but I do think the regulators are coming and the UK has already mentioned they are investigating gamification of financial markets. Regulators are slow, but they come.

However it is, where-ever they are, lets hope they have the legal element of their business secure so that there are less impacts should a regulatory overhaul occur.
  • #12,898
  • Dec 10, 2022 9:22am Dec 10, 2022 9:22am
Quoting Nsak3y
{quote}- I think that in the case of TPT, part of the problem was likely due to the fact that their trading conditions were not realistic, at least, assuming that I am remembering correctly. I believe that someone stated that they did not experience any slippage whatsoever with them.
Exactly. Some of the props are doing it right and some aren't. The firms that target the traders who do not have a clue are the ones doing it wrong with unrealistic trading conditions. Obviously, no orders are going to market.
With that being said, just like they can use "regulation" as an out, a firm can also use slippage, spreads, i.e. "market conditions", when, in reality they could possibly be operating just like the shady ones offering unrealistic conditions. They use "market conditions" for additional profit and/or to trigger violations. We have no clue and that is the problem. We are at the complete mercy of whatever these firms choose to do.
Best advice, once again, trade with the ones that appear LESS shady. MFF is very transparent, TFTP is actually growing on me as a company, although I still despise the constant marketing and social media. FTMO is still solid until PROVEN otherwise. Have a backup plan ALWAYS.
As Takisd has stated several times, there is probably simply not enough room for ALL FIRMS to survive. MFF, FTMO and TFTP are currently the 3 largest by leaps and bounds (correct me if wrong takisd). Not that big is immune to failure, but let's stack the odds in our favor at least.
  • #12,899
  • Dec 10, 2022 9:26am Dec 10, 2022 9:26am
Quoting Takisd
This year has been awful for risk book entities. Brokers, MM's etc. Its not surprise that propfirms are having some trouble. Its a prolonged period of lowered revenues. Not because of less traders, quite the contrary, but because its been far easier to make money this year and if you are operating a b-book model or dont have correct risk experience, you are on a tight thread. It is my hope that like during FT, this is it, no others. But I believe blufx? has gotten a letter from the US regulator (I might be misquoting which company it is) but I do...
Yes, I agree. I think the MFFs and FTMOs of the world have this in place. Just as we, as traders, have a backup plan, I am sure these big firms do. It is not a matter of if, but when the regulation steps in. Hopefully, with the bigger firms, it is already a predetermined next move.
  • #12,900
  • Dec 10, 2022 9:32am Dec 10, 2022 9:32am
[quote=Takisd;14251201]{quote} 3 links? excessive.[/quo

Not really
every Saint has a past. Every Sinner has a Future
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