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  • #14,081
  • Feb 22, 2023 10:15am Feb 22, 2023 10:15am
Quoting pipmaster77
{quote} As mentioned above, you start by paying a fee equal to or greater than your allowable loss. You are losing money from the beginning...... But, here is where it gets even better, they double you (100%) every time you make 250% (10% profit with 4% DD) Imagine you had $1,000 in a personal account and you earned 250%, your account would be $3,500, with the 5%ers, not only are they going to take 50% of your $2,500 profit, they are going to leave you with $2,000 to trade with.....so yes I AM CERTAIN THEY COPY YOUR TRADES.....you are funding them,...
Bang on the money as usual.

Imagine if this was a casino in Vegas employing this business model, doubt many would be queuing up for the fake chips and tilted roulette table to play on!..
  • #14,082
  • Feb 22, 2023 10:25am Feb 22, 2023 10:25am
Quoting Capablanca
{quote} That sucks because now they have unlimited time to complete challenges, both phase 1 and 2, and trader may have invested a lot of time in passing, just to end up discovering a violation long time ago.
By the way, they are planning to automate the detection system in real time in the next months.(works only for Max los for the moment)

Finotive will become very interesting when this establishment will be effective
  • #14,083
  • Feb 22, 2023 11:13am Feb 22, 2023 11:13am
Quoting Nehemah
{quote} By the way, they are planning to automate the detection system in real time in the next months.(works only for Max los for the moment) Finotive will become very interesting when this establishment will be effective
Max loss doesn't seem the more problematic area (but obviously it's ridiculous not having a system to detect such a basic thing automatically).

The daily and 50% daily loss is where things can be complicated, specially for those trading a lot. It's easy to make a mistake calculating a stop and then amending it. But meanwhile the mistake is done.

Also the stop loss mandatory is critical. They are very vague on that. They say 1 minute in the group, to me they said 15 minutes when I had an account. In FB they once said that it was Ok to trade once in a while without stop. It's too discretionary, leaving us in their hands.

For the absence of stops I would prefer an automatic warning system. For example first offense nothing happens. Second offence the profit (if any) would be deducted. Third offence the account is revoked.
  • #14,084
  • Feb 22, 2023 1:04pm Feb 22, 2023 1:04pm
Quoting Capablanca
{quote} Max loss doesn't seem the more problematic area (but obviously it's ridiculous not having a system to detect such a basic thing automatically). The daily and 50% daily loss is where things can be complicated, specially for those trading a lot. It's easy to make a mistake calculating a stop and then amending it. But meanwhile the mistake is done. Also the stop loss mandatory is critical. They are very vague on that. They say 1 minute in the group, to me they said 15 minutes when I had an account. In FB they once said that it was Ok to trade...
I agree it would be much more inviting and more easy to invest in these challenges if there was a little more discretion instead of having to tip toe around in fear of violating a random vague rule.
  • #14,085
  • Feb 22, 2023 5:15pm Feb 22, 2023 5:15pm
everybody speak badly of eightcap

in your personal accounts which broker do you use? personally commission of eightcap are not so interesting and I like more spreads of fpmarkets,

the brokers I prefer are fusion as first, fp markets as second, ic markets as third, eightcap as fourth, but recently I'm trying in liquid hours tickmill and don't know why may be for their commission plan, is the one where testing demos I make most of the money in scalping.
in holiday till end of November
  • #14,086
  • Feb 22, 2023 9:45pm Feb 22, 2023 9:45pm
Quoting maflip
{quote} I'm currently trying Finotive right now. So far it's nice, first time I see a prop firm charge no commission on Forex (Raw spread). I was surprised, the spread is also great. And no crazy slippage (So far) unlike MFF (terrible on slippage). No time limit which is also great. At this time, I like this firm. They make you trade on LIVE (Not Demo), but trades are not sent to the markets. I haven't seen any hanky panky yet. I can't say anything about payout. I'm still on phase 1.
Just curious, how does it work to trade live when trades are not sent to the markets?
  • #14,087
  • Feb 22, 2023 9:58pm Feb 22, 2023 9:58pm
Quoting forexbali
everybody speak badly of eightcap in your personal accounts which broker do you use? personally commission of eightcap are not so interesting and I like more spreads of fpmarkets, the brokers I prefer are fusion as first, fp markets as second, ic markets as third, eightcap as fourth, but recently I'm trying in liquid hours tickmill and don't know why may be for their commission plan, is the one where testing demos I make most of the money in scalping.
I use Fusion mostly for FX risk trading ... Low spread mated to low commission ... never had any serious issues whatsoever and I've been with them for several years.

Pepperstone and IC Markets I use now and again but over the last few years conditions changed especially server issues at IC so I sought other brokers.

My favorite to date is Interactive Brokers but that's more of a professional setting rather than retail FX madness.

Masterrmind .........
Master your Mind then Master your Trades
  • #14,088
  • Feb 22, 2023 10:00pm Feb 22, 2023 10:00pm
Quoting OutThere
{quote} Just curious, how does it work to trade live when trades are not sent to the markets?
I don't know. But this is what they said. And it's in their website. You trade on live but orders not sent to market. They are their own brokerage so it might be similar to a demo account just tagged as live.
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  • #14,089
  • Feb 22, 2023 10:23pm Feb 22, 2023 10:23pm
Quoting maflip
{quote} I don't know. But this is what they said. And it's in their website. You trade on live but orders not sent to market. They are their own brokerage so it might be similar to a demo account just tagged as live. {image}
That's funny.
  • #14,090
  • Feb 23, 2023 1:20am Feb 23, 2023 1:20am
Quoting maflip
{quote} I don't know. But this is what they said. And it's in their website. You trade on live but orders not sent to market. They are their own brokerage so it might be similar to a demo account just tagged as live. {image}
I have a theory, maybe wrong, that the server name is whatever they want to write there.
It's written Finotive-Live but could be Finotive-SantaClaus or TradersGlobalGroup-ChocolateCake (on MFF).
Meaning that I don't get impressed if that says Demo or Live. I take the Live as just a word written there, but I assume it's a demo anyway.
Again, I may be completely wrong, it's just my theory.
  • #14,091
  • Feb 23, 2023 1:47am Feb 23, 2023 1:47am
Quoting Capablanca
{quote} I have a theory, maybe wrong, that the server name is whatever they want to write there. It's written Finotive-Live but could be Finotive-SantaClaus or TradersGlobalGroup-ChocolateCake (on MFF). Meaning that I don't get impressed if that says Demo or Live. I take the Live as just a word written there, but I assume it's a demo anyway. Again, I may be completely wrong, it's just my theory.
Yeah, I wonder myself, but they got me trading live on Phase 1. But, if they can do this fake "LIVE" account. Makes me wanna think maybe other broker can do the same thing.
  • #14,092
  • Edited 1:24pm Feb 23, 2023 1:47am | Edited 1:24pm
Quoting Capablanca
{quote} Max loss doesn't seem the more problematic area (but obviously it's ridiculous not having a system to detect such a basic thing automatically). The daily and 50% daily loss is where things can be complicated, specially for those trading a lot. It's easy to make a mistake calculating a stop and then amending it. But meanwhile the mistake is done. Also the stop loss mandatory is critical. They are very vague on that. They say 1 minute in the group, to me they said 15 minutes when I had an account. In FB they once said that it was Ok to trade...
I talked a lot wit them. They were clear : SL after 61 sec is a violation. And not be able to detect that in real time and to keep the trader in the dark is strange. Finally, they are loosing money. The sooner you warn the trader of his mistake, the sooner he will be likely to redeem a challenge
  • #14,093
  • Feb 23, 2023 1:54am Feb 23, 2023 1:54am
Quoting Nehemah
{quote} I talked a lot wit them. They was clear : SL after 61 sec is a violation. And not be able to detect that in real time and to keep the trader in the dark is strange. Finally, they are loosing money. The sooner you warn the trader of his mistake, the sooner he will be likely to redeem a challenge
Maybe you can also ask them how they are allowing trades on "LIVE" and not sending orders to market.

"The sooner you warn the trader of his mistake, the sooner he will be likely to redeem a challenge" Maybe they are not in it for the fees? But actual profitable traders?
  • #14,094
  • Feb 23, 2023 2:57am Feb 23, 2023 2:57am
Quoting maflip
{quote} Yeah, I wonder myself, but they got me trading live on Phase 1. But, if they can do this fake "LIVE" account. Makes me wanna think maybe other broker can do the same thing.
The ones that have their own server can write whatever they want there, I guess, that's why I picked Finotive and MFF as examples.

What's the logic of Finotive having Live in challenges ? Only crazy guys would send trades to a live market from someone who just bought a challenge. This Live stuff seems more a marketing thing than a real thing (btw I also had Live since day one of phase 1 with them).
  • #14,095
  • Feb 23, 2023 3:04am Feb 23, 2023 3:04am
Quoting Nehemah
{quote} I talked a lot wit them. They was clear : SL after 61 sec is a violation. And not be able to detect that in real time and to keep the trader in the dark is strange. Finally, they are loosing money. The sooner you warn the trader of his mistake, the sooner he will be likely to redeem a challenge
This discretionarily is what annoys me.

I got in chat this answer:
"it's ok to do that if it takes a few minutes no problem with that"
Few minutes and not 1 minute

In another chat, which I didn't keep proof, they told me 15 minutes was OK

And in an email on Jul 21th 2022 they wrote this:

Dear Trader,
We have recently updated our Responsible Trading Policy to make it clearer and more refined. Specifically we have re-worked Clauses related to gambling and high-risk trading. Please find below our new wording designed help you understand what we expect of our traders from a risk-perspective.
5.5. To protect our capital and help our traders succeed we must monitor every account for signs of gambling or reckless trading. This could be in the form of but not limited to:
• Risking 100% or more of your drawdown limits in open trades.

For example, open trades totalling 5% risk if the traders max daily loss is 5%.

• Risking 50% or more of your drawdown limits in a single trade or across
multiple trades on the same instrument.

For example, risking 2.5% on a single position if the traders max daily loss is 5%.

• Trading with no stop loss.
Whilst the odd trade with no stop loss is okay, repeated lack of stop loss use and high unprotected trade volume is a massive concern. The reason behind this is that no-one can predict the timing of network or hardware issues, so it is much more beneficial for both parties if the trader aims to use a stop loss at all times.
Best Regards,
The Finotive Team
  • #14,096
  • Feb 23, 2023 3:57am Feb 23, 2023 3:57am
FTMO ... I have a friend that I know that said to me and showed a screenshot that has got a 1.200.000 funded account in FTMO

he said that he merged many challenge... and then traded with 1.200.000 making profit on Tesla and now requested 50K payout.

How is possible that he made a 1.2M account merged? I read the rules and it is possible max 2 account of 200K.... max 400K

how he made so this 1.2M merge?
in holiday till end of November
  • #14,097
  • Feb 23, 2023 4:47am Feb 23, 2023 4:47am
Quoting forexbali
FTMO ... I have a friend that I know that said to me and showed a screenshot that has got a 1.200.000 funded account in FTMO he said that he merged many challenge... and then traded with 1.200.000 making profit on Tesla and now requested 50K payout. How is possible that he made a 1.2M account merged? I read the rules and it is possible max 2 account of 200K.... max 400K how he made so this 1.2M merge?
You can have max 400k of the initial balance but you can scale it up to 2mil
Money is made by sitting, not trading
  • #14,098
  • Feb 23, 2023 5:42am Feb 23, 2023 5:42am
Quoting Vitore
{quote} You can have max 400k of the initial balance but you can scale it up to 2mil
I spoke with my friend correct he had 400K and arrived to 1.2M with luck and good trading thanks to tesla.

One of the top 0.1% then. Happy for him.

Good story.
in holiday till end of November
  • #14,099
  • Feb 23, 2023 6:39am Feb 23, 2023 6:39am
Which are the best prop firm where it is possible to trade Tesla?

FTMO YES
TrueForexFunds I have seen also they offer now stocks

any other?
in holiday till end of November
  • #14,100
  • Feb 23, 2023 12:23pm Feb 23, 2023 12:23pm
Quoting maflip
{quote} I'm currently trying Finotive right now. So far it's nice, first time I see a prop firm charge no commission on Forex (Raw spread). I was surprised, the spread is also great. And no crazy slippage (So far) unlike MFF (terrible on slippage). No time limit which is also great. At this time, I like this firm. They make you trade on LIVE (Not Demo), but trades are not sent to the markets. I haven't seen any hanky panky yet. I can't say anything about payout. I'm still on phase 1.
Thanks
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