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prop firm new model - my trading journey 871 replies

Anyone trading with a Prop firm 2 replies

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

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Prop Firm Hub

Quoting Nehemah
{quote} Thank you for the correction. TFT have probably the worst forex trading conditions (spread and fees) and they had a lot of slippages issues (widely sanctioned on Truspilot this month) And now they reduce their DD (daily and max) which was however one of their only quality. It is very surprising. Did they really think about what they were doing ?
Recently they decreased commissions for forex from $5 to $3 per lot (don't know about indexes).

This is roughly the same than reducing the spread 0.2 pips but, you're right, spreads are wider.

Right now EURUSD is 0.7 to 0.9 spread which is too much for EURUSD, London session, out of news. On the top of it we need to account slippage, which is also much worse as well, as you mention.

Nevertheless, I think the Trust Pilot reviews may also be inflated by their screw up 2 (?) weeks ago.
Quoting pipmaster77
The irony of it all......been almost 2 years ago I was stating MFF and FTMO, all you need, just max these 2. I was told I had a hidden agenda, that I was a secret shrill for these 2 companies. Now many firms have come and gone, some outright scams are still operating and the other 2 decent ones are becoming not so decent. Alot of time and energy spent in that time by a lot of folks to arrive at the same outcome I presented 2 years ago.
and it is interesting how they still stick with the same model (well except for that rapid abomination from MFF). However, my best strat gets like 6-7 trades per month only and for me, no time limit is the only way to go. I hope we get at least 2 more no time limit players that survive over the next few years.
Quoting Capablanca
{quote} Recently they decreased commissions for forex from $5 to $3 per lot (don't know about indexes). This is roughly the same than reducing the spread 0.2 pips but, you're right, spreads are wider. Right now EURUSD is 0.7 to 0.9 spread which is too much for EURUSD, London session, out of news. On the top of it we need to account slippage, which is also much worse as well, as you mention. Nevertheless, I think the Trust Pilot reviews may also be inflated by their screw up 2 (?) weeks ago.
I was getting 2.7 on GBPJPY yesterday, TFF was 0.6. I only have 100K with TFF, but their spreads are tighter than anyone I use (commission a bit higher), but overall cost is lower.
Quoting pipmaster77
{quote} I was getting 2.7 on GBPJPY yesterday, TFF was 0.6. I only have 100K with TFF, but their spreads are tighter than anyone I use (commission a bit higher), but overall cost is lower.
From the one I know TFF has the tightest spreads an very little or no slippage out of news time. Commission is 7 per lot, the most expensive, but anyway uses to compensate (I know that having zero or little slippage is not a good signal, I'm just stating facts, not thinking if that is safe for them).
Hi, sorry for my English.
Today I got funded account from TFF.
3 hours later they banned me because of third-party.
I use VPS all the time. They didn't give me any evidence about that.
So please dont work with them.
This is email they sent :
"
Unfortunately, your account was flagged and after reviewing your account we've decided that we can't offer our services to you.

We made this decision because your account was flagged by our risk tool. Please refer to section 3.4.1 of our Terms of Use, which says that "You agree that our Services are for Client’s use solely, meaning that only the Client can access their True Forex Funds accounts and perform trades. You do not allow any third-party private persons or professionals to access your account, nor you do not access third-party accounts."

It was a tough decision to make but after manually reviewing the flagged information, we decided to terminate your account(s).
However, we appreciate the time you have taken to participate in our challenge, and for this reason, we will refund your paid fees, please provide us with your USDT TRC20 wallet address.
In conclusion, we expressly ask you to withhold from new registrations since these will be recognized and would not be refunded or further consequences may be taken into action.
Please be reminded the relationship between the two parties is strictly confidential and you may never disclose any information to any person or entity or publicly disclose it.
After everything, we still wish you great success with your future trades and endeavors."
Quoting cmh1995
Hi, sorry for my English. Today I got funded account from TFF. 3 hours later they banned me because of third-party. I use VPS all the time. They didn't give me any evidence about that. So please dont work with them. This is email they sent : " Unfortunately, your account was flagged and after reviewing your account we've decided that we can't offer our services to you. We made this decision because your account was flagged by our risk tool. Please refer to section 3.4.1 of our Terms of Use, which says that "You agree that our Services are for Client’s...
IP flagging alone is a terrible enforcement policy, especially when it comes to VPS and VPN that can share a pool of addresses between thousands of people. I have static IPs for both my home fiber internet and my dedicated server in a datacenter, but I justify the expense because I also own a computer company, not for forex trading alone. They can't expect everyone to have that, it's ridiculous. Particularly if you ever use a mobile device when roaming between cell towers.
This case is even more strange because it's still at the end of phase 2. Usually, to avoid bad publicity, it only happens when someone has a big payout.
Quoting AaronPriest
{quote} IP flagging alone is a terrible enforcement policy, especially when it comes to VPS and VPN that can share a pool of addresses between thousands of people. I have static IPs for both my home fiber internet and my dedicated server in a datacenter, but I justify the expense because I also own a computer company, not for forex trading alone. They can't expect everyone to have that, it's ridiculous. Particularly if you ever use a mobile device when roaming between cell towers.
If a trader indeed uses third party trading, they would share the same IP address. right? If I am so close to be funded, as the guy mentioned already at phase II, I would not place my account in vps to cause any question on my account. esp manual trade, I can understand EA trades use VPS
Quoting Boulder
{quote} If a trader indeed uses third party trading, they would share the same IP address. right? If I am so close to be funded, as the guy mentioned already at phase II, I would not place my account in vpn to cause any question on my account. esp manual trade, I can understand EA trades use VPN
You probably mean VPS. It’s the cheap, shared VPS that have common IP addresses; some have a static or dedicated IP as an option without having to go full dedicated server. I live in a remote area with unreliable internet and power, so I have no choice but to go with either a VPS or dedicated server for any EAs because using my local computer is not a good option. I suspect that even MQL5’s own VPS service would get flagged by this prop firm sadly.
Quoting AaronPriest
{quote} You probably mean VPS. It’s the cheap, shared VPS that have common IP addresses; some have a static or dedicated IP as an option without having to go full dedicated server. I live in a remote area with unreliable internet and power, so I have no choice but to go with either a VPS or dedicated server for any EAs because using my local computer is not a good option. I suspect that even MQL5’s own VPS service would get flagged by this prop firm sadly.
Yes VPS.. thanks , I edit it..I think it would be flag by other firms as well....MFFX mentioned that before
hey there, can anyone please tell me what are the steps in KYC when you get funded with FTMO ? like what documents or proofs of identity they need and can you just upload them via your FTMO account on their site or via their email ? also are you signing any contract with them ?
Spread at mffx with eightcap is about 5 for US30 (evaluation). Shown spread is just 1.40.
Quoting Eren10
Spread at mffx with eightcap is about 5 for US30 (evaluation). Shown spread is just 1.40.
Eightcap prop firms are not meant for indices trading
Quoting sampat
{quote} Eightcap prop firms are not meant for indices trading

Why not? In the first days it looked not bad. But today spread is about 5 and at closing they take also more so maybe more than 5.
Quoting Eren10
{quote} Why not? In the first days it looked not bad. But today spread is about 5 and at closing they take also more so maybe more than 5.
Compared to MyFF and FTMO it is crap. Both in terms execution or cost...You name any parameter.
MFFX : MT4 is live on ThinkMarkets for purchase

Well, if someone tries that, it would be nice to put here a report of the real conditions (I doubt it could be worse than Eightcap)
Quoting AaronPriest
{quote} IP flagging alone is a terrible enforcement policy, especially when it comes to VPS and VPN that can share a pool of addresses between thousands of people. I have static IPs for both my home fiber internet and my dedicated server in a datacenter, but I justify the expense because I also own a computer company, not for forex trading alone. They can't expect everyone to have that, it's ridiculous. Particularly if you ever use a mobile device when roaming between cell towers.
I had spoken with a guy from TFT and he assured me that the criterion was not the IP but simply the device used. Each prop has its criteria on this plan and the latter is very very sensitive.
Quoting Nehemah
{quote} I had spoken with a guy from TFT and he assured me that the criterion was not the IP but simply the device used. Each prop has its criteria on this plan and the latter is very very sensitive.
I would hope it's more than IP alone. But even device ID or MAC address could be used by thousands of accounts on some of these shared VPS plans. It's why a dedicated or static IP is essential for some services like mail servers so you don't get caught up in spam filters due to the abuse of others on the same server; I'd say it's becoming essential for Forex trading too on VPS plans.
Quoting AaronPriest
{quote} I would hope it's more than IP alone. But even device ID or MAC address could be used by thousands of accounts on some of these shared VPS plans. It's why a dedicated or static IP is essential for some services like mail servers so you don't get caught up in spam filters due to the abuse of others on the same server; I'd say it's becoming essential for Forex trading too on VPS plans.
Really ? I thought MAC address was unique for each device.
Quoting Eren10
Spread at mffx with eightcap is about 5 for US30 (evaluation). Shown spread is just 1.40.
5????? MFF is 1.4 with no commish, even my live TFTP (eightcap) is 2.2 with no commish.
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