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  • #13,101
  • Dec 21, 2022 9:21am Dec 21, 2022 9:21am
Quoting ladder
{quote} Talk is cheap. You don't know if they really copy funded traders.
Very true. But given the Firm has scrapped Trading Rules recently, and those that remain are very fair, it does project a certain level of confidence in its Model? To be honest I am only concerned about payouts, slippage, and potential under hand practices. For example, I couldn't care less how long the Support Desk takes to respond to my query/provide my credentials, or if I am paid a day late etc.
  • #13,102
  • Dec 21, 2022 11:36am Dec 21, 2022 11:36am
Hi,
anyone tried the Xmas tickets at ftmo? Today are tickets to get the challenge without time restriction. This ist interesting but if i did read the text correct, there is no guaranty.

Best
Chriss
  • #13,103
  • Dec 21, 2022 1:06pm Dec 21, 2022 1:06pm
Quoting amandajc
{quote} What are the complaints, is there a theme? Hopefully not a refusal to pay out profits? I was encouraged by the CEO's recent video explaining the Firm's Copy Trading Model. Therefore theoretically the Firm should not have an issue fulfilling large payout requests?
The complaints were things like "not paid out because of XYZ which isn't true" and "the server disconnected randomly and I wasn't able to close my trade and they didnt rectify it" the general things with poorly run firms.
  • #13,104
  • Dec 21, 2022 1:27pm Dec 21, 2022 1:27pm
Quoting Takisd
{quote} The complaints were things like "not paid out because of XYZ which isn't true" and "the server disconnected randomly and I wasn't able to close my trade and they didnt rectify it" the general things with poorly run firms.
Thanks Takisd. I assume you are a consistently profitable trader. Have you ever been denied a payout from a Prop Firm? If so, how was it resolved, e.g. Admin team intervened and rectified a simple error?

Given 95%+ of Retail Traders do not possess the requisite skills to trade I am not surprised that complaints are commonplace. Very often a neophyte trader will blame others for their failings.

However if you personally have experienced issues in the past that would be a red flag for me.
  • #13,105
  • Dec 21, 2022 7:16pm Dec 21, 2022 7:16pm
Quoting forexbali
How is possible in 1 month from 200K to 800K ????
Risk for trader was 1000$. So...
  • #13,106
  • Dec 22, 2022 1:52am Dec 22, 2022 1:52am
Quoting chrissfx
Hi, anyone tried the Xmas tickets at ftmo? Today are tickets to get the challenge without time restriction. This ist interesting but if i did read the text correct, there is no guaranty. Best Chriss
Just FOMO marketing..
  • #13,107
  • Dec 22, 2022 6:33am Dec 22, 2022 6:33am
Quoting Fagin
{quote} Just FOMO marketing..
FTMO wants to collect as much money as possible in December. Probably they are giving every employee a big cash prize to celebrate Christmas and New Year.
  • #13,108
  • Dec 22, 2022 6:39am Dec 22, 2022 6:39am
I was thinking of doing a challenge with Ospreyfx

Would definitely not normally be my first choice, probably my last choice as there seems to be many complaints but I see they are giving a $2000 bonus on sucessful challenge completion.

I am trying to find out is this 2k bonus applies to all account sizes as it says nothing on the website but even if they do deny me a funded account for some convoluted reason, $2000 is not a bad pay off
  • #13,109
  • Dec 22, 2022 6:51am Dec 22, 2022 6:51am
Quoting Bizziebee
I was thinking of doing a challenge with Ospreyfx Would definitely not normally be my first choice, probably my last choice as there seems to be many complaints but I see they are giving a $2000 bonus on sucessful challenge completion. I am trying to find out is this 2k bonus applies to all account sizes as it says nothing on the website but even if they do deny me a funded account for some convoluted reason, $2000 is not a bad pay off

This is weird - I tried Ospreyfx trial account and I notice that the spread on Dow is 2 points. Not too bad. But 1 lot = 100points! Also they charge $7 commission - nasty. But weirdly it works in your favour on Indices because if you open a full lot trade the commission is still only $7 not $70
  • #13,110
  • Dec 22, 2022 9:39am Dec 22, 2022 9:39am
Quoting Bizziebee
I was thinking of doing a challenge with Ospreyfx Would definitely not normally be my first choice, probably my last choice as there seems to be many complaints but I see they are giving a $2000 bonus on sucessful challenge completion. I am trying to find out is this 2k bonus applies to all account sizes as it says nothing on the website but even if they do deny me a funded account for some convoluted reason, $2000 is not a bad pay off
Inserted Video
  • #13,111
  • Dec 22, 2022 9:42am Dec 22, 2022 9:42am
Quoting Bizziebee
{quote} This is weird - I tried Ospreyfx trial account and I notice that the spread on Dow is 2 points. Not too bad. But 1 lot = 100points! Also they charge $7 commission - nasty. But weirdly it works in your favour on Indices because if you open a full lot trade the commission is still only $7 not $70
In general avoid any firms where rules are not clearly defined. I came across couple of videos where people are not getting funded accounts on OspreyFX. It may be legit broker but shady funded account rules.
  • #13,112
  • Dec 22, 2022 12:28pm Dec 22, 2022 12:28pm
Quoting sampat
{quote} In general avoid any firms where rules are not clearly defined. I came across couple of videos where people are not getting funded accounts on OspreyFX. It may be legit broker but shady funded account rules.
Oh yes I agree. I did ask them about it and got this reply:

We do allow any trading style and EAs however, clients still need to keep up with the requirements. Also, our trades team calculates the trader's consistency when trading.

If you're allowed to use any trading style I'm not sure these "requirements" are. But in my view, if they are going through your trades with a fine tooth comb, they are looking for any excuse to deny people a funded account
  • #13,113
  • Dec 22, 2022 12:31pm Dec 22, 2022 12:31pm
Quoting Bizziebee
{quote} Oh yes I agree. I did ask them about it and got this reply: We do allow any trading style and EAs however, clients still need to keep up with the requirements. Also, our trades team calculates the trader's consistency when trading. If you're allowed to use any trading style I'm not sure these "requirements" are. But in my view, if they are going through your trades with a fine tooth comb, they are looking for any excuse to deny people a funded account
On the other hand, I might just do the smallest challenge and hopefully pass in order to get the $2000 bonus!,
  • #13,114
  • Dec 22, 2022 12:52pm Dec 22, 2022 12:52pm
Quoting Bizziebee
{quote} Oh yes I agree. I did ask them about it and got this reply: We do allow any trading style and EAs however, clients still need to keep up with the requirements. Also, our trades team calculates the trader's consistency when trading. If you're allowed to use any trading style I'm not sure these "requirements" are. But in my view, if they are going through your trades with a fine tooth comb, they are looking for any excuse to deny people a funded account
"our trades team calculates the trader's consistency when trading" having this without detailing how do they measure "consistency" is immediately a red flag
  • #13,115
  • Dec 22, 2022 1:01pm Dec 22, 2022 1:01pm
Quoting Bizziebee
{quote} On the other hand, I might just do the smallest challenge and hopefully pass in order to get the $2000 bonus!,
What concerns me is the vague use of the term consistency. It is like an open-ended "out" for the firm.
One of the reasons I prefer the firms with simple rules........make x% within x amount of time, do not lose x% per day or x % overall. Simple, should not matter how I get there.... I may have 10 1 lot trades and then 1 100 lot trade. The firms with consistency, mandatory s/l, can't risk more than a certain % per instrument, etc.....to me, they are just extra stumbling blocks which they are hoping you stumble over.
I'm probably 95% within a certain lot size per x amount of capital, BUT, there are occasions where I have a set up with an opportunity to use a very tight stop, I may have a trade 5,6,10x what I normally trade....risk is the same, but I would violate a lot size restriction OR let's say I'm in a trade that has gone against me but now I see a clear reversal in my favor, I may wish to add to that trade, perhaps that added trade now violates a max risk per instrument.
Once again, the companies with these rules are looking for you to fail, in addition, some who never had these rules are now adjusting to avoid large payouts.
I still believe the companies we consistently talk about are the ones to go with and I also believe in order to not be a "target" and stay under the radar, you need to trade the accounts with reasonable risk management. These two things should avoid any issues with payouts.
  • #13,116
  • Dec 22, 2022 1:03pm Dec 22, 2022 1:03pm
Quoting Capablanca
{quote} "our trades team calculates the trader's consistency when trading" having this without detailing how do they measure "consistency" is immediately a red flag
Looks like we were posting at the same time.
  • #13,117
  • Dec 22, 2022 1:14pm Dec 22, 2022 1:14pm
Quoting pipmaster77
{quote} What concerns me is the vague use of the term consistency. It is like an open-ended "out" for the firm. One of the reasons I prefer the firms with simple rules........make x% within x amount of time, do not lose x% per day or x % overall. Simple, should not matter how I get there.... I may have 10 1 lot trades and then 1 100 lot trade. The firms with consistency, mandatory s/l, can't risk more than a certain % per instrument, etc.....to me, they are just extra stumbling blocks which they are hoping you stumble over. I'm probably 95% within...
Sure with these guys it's a minefield. I presume they want to weed out any trader that could make huge profits so that they are only having to pay this bonus from failed challenges

But one can buy a 25k account for $154 at the moment and IF you pass, you're guaranteed $2154 even if you don't get funded. So until Sunday it's probably a good deal IMHO
  • #13,118
  • Dec 22, 2022 3:05pm Dec 22, 2022 3:05pm
Quoting ladder
{quote} FTMO wants to collect as much money as possible in December. Probably they are giving every employee a big cash prize to celebrate Christmas and New Year.
A big cash prize of $50 and and a pat on the back.
  • #13,119
  • Dec 23, 2022 6:03am Dec 23, 2022 6:03am
Quoting Bizziebee
{quote} Sure with these guys it's a minefield. I presume they want to weed out any trader that could make huge profits so that they are only having to pay this bonus from failed challenges But one can buy a 25k account for $154 at the moment and IF you pass, you're guaranteed $2154 even if you don't get funded. So until Sunday it's probably a good deal IMHO
Not sure if you read the whole website or if you are aware of the following:

Consistency rule relates to " The profits earned on your Best Trading Day must not exceed 30% of the overall profit earned".

This only applies to the verification stage so they say !

If a trader shows such an outlier in profit gained then the trader must continue to trade until your best days profit gained is less than 30%.

If you were aware of this my apologies.

Masterrmind ............
Master your Mind then Master your Trades
  • #13,120
  • Dec 23, 2022 6:38am Dec 23, 2022 6:38am
Quoting Masterrmind
{quote} Not sure if you read the whole website or if you are aware of the following: Consistency rule relates to " The profits earned on your Best Trading Day must not exceed 30% of the overall profit earned". This only applies to the verification stage so they say ! If a trader shows such an outlier in profit gained then the trader must continue to trade until your best days profit gained is less than 30%. If you were aware of this my apologies. Masterrmind ............
Thank you. Yes I noticed but it is unlikely to be a problem seeing that I'm trying to get away from that kind of all or nothing trading

I am in the process of purchasing a 25k account on this special promotion and I will put up a TE and hopefully we'll all see how I am treated. They only accept crypto payment which is a real pain in the neck.
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