Prop Firm Hub | Page 841 | Forex Factory

Options

Go to
Permalinks
Print Thread

Featured US Prop Firms

Similar Threads

Anyone trading with a Prop firm 33 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

prop firm new model - my trading journey 871 replies

Attachments: Prop Firm Hub
Exit Attachments

Prop Firm Hub

  • #16,801
  • Jun 20, 2023 5:57am Jun 20, 2023 5:57am
Quoting Capablanca
Looking at FXIFY it's my impression or these guys are basically returning the fee after phase 2 ? I'm saying this because "The first withdrawal can be requested on demand(24 hours after placing your first trade)". So, if someone passes phase 2, my distorted mind tells me that we just need to place a 0.01 (or so) trade that get positive. This would result in a payout + refund fee (I'm not sure if there is minimum to request a payout though), which means fee refund basically after phase 2. Am I missing anything ?

Recently had withdrawal with FXIFY, after you finish challenge you do KYC and agreement with DEEL. I requested first payout on first day even before 24 hours and it was all sorted within hour to be honest. I am really impressed.
  • #16,802
  • Jun 20, 2023 6:16am Jun 20, 2023 6:16am
Quoting youngD
{quote} Recently had withdrawal with FXIFY, after you finish challenge you do KYC and agreement with DEEL. I requested first payout on first day even before 24 hours and it was all sorted within hour to be honest. I am really impressed.
That's really good. Would be nice if these guys survive and keep doing it.

Btw, do they have any downtime period while processing payout ? The best I found so far is MFFx which is immediate. They take the money from the account and we can go on trading. Then the payout is don the day after.
Curiously the dead TPT was like that. They issued new credential the same second that we asked for the payout.

For me is more important not having down time than the time to receive it (provided, of course, it's not a lot).
The worse is TFF and TFT with that 24 to 48h downtime.
  • #16,803
  • Jun 20, 2023 6:17am Jun 20, 2023 6:17am
Quoting Nehemah
Just read in the Prop Firms Telegram group : A guy lost his 250 K with MFFX : " hedging with other prop firm " with no proof The guy had something like a reverse arbitrage with different lots & with a close time difference of 50 min
Did Matt give any explanation/proof ?!

This is the kind of excuse that is easy to provide if there are no proofs. Even proofs can be fabricated....
  • #16,804
  • Jun 20, 2023 6:29am Jun 20, 2023 6:29am
Quoting Capablanca
{quote} Did Matt give any explanation/proof ?! This is the kind of excuse that is easy to provide if there are no proofs. Even proofs can be fabricated....
The guy posted some chats (it was with Dex from MFFX). I was surprised Matt didn't come to talk in the " PTG " about this issue. Nothing actually (not his style)

I am amazed by the number of problems that suddenly emanate from MFFX. I hope they are not in financial difficulty. For me they remain in the top 5 but I feel that something abnormal is happening with them.
  • #16,805
  • Jun 20, 2023 6:33am Jun 20, 2023 6:33am
Quoting Nehemah
{quote} The guy posted some chats (it was with Dex from MFFX). I was surprised Matt didn't come to talk in the " PTG " about this issue. Nothing actually (not his style) I am amazed by the number of problems that suddenly emanate from MFFX. I hope they are not in financial difficulty. For me they remain in the top 5 but I feel that something abnormal is happening with them.
Let's see. They're American and it's still early there. But would not be a surprise to see some new props going under.

I got a payout from them last week, middle 4 figures, as fast as the previous ones.

If you see any developments of the case please share that with us. Thanks
  • #16,806
  • Jun 20, 2023 6:46am Jun 20, 2023 6:46am
Small update with Evertrader:

I was very skeptical about their offer a few months ago. They finally removed their consistency rules and I decided to try a 50K challenge to see if they really refunded the fees after phase 1. I passed the challenge and got the refund exactly 8 hours after passing the phase 1. I admit, I was very surprised (be careful though, this offer is not valid for challenges > 50 K)
We'll see if I manage to get a payout, but I'm quite optimistic. It's a shame that the phase 1 target is at 10% and I don't like their broker (Purple) but the rest is very convincing. Good prop for me (easy Top 10)
  • #16,807
  • Jun 20, 2023 8:10am Jun 20, 2023 8:10am
Quoting ladder
{quote} Be careful about their 2 minutes news rule. They don't even let you know what kinds of news affect which pair. I once saw on a prop website(don't remember which prop) that Crude Inventory is red news for all USD pairs. Can you believe it? Also, speeches of government officials are red news, but sometimes the speech is not planned at a certain time. If you use stop loss/take profit/limit order/stop order, you WILL definitely break their news rule in a year, probably in a few months or weeks.
Thanks. I have yet to go through the rules yet. Is the news rule both for challenges and funded or only for funded ?

Regarding absence of payout proof of conversation here I think this is because the challenge model is pretty new in 5ers, if I'm not wrong.
The instant model was not too appealing for the most of the participants here, I think.
  • #16,808
  • Edited 8:58am Jun 20, 2023 8:37am | Edited 8:58am
Quoting shrezinc
Seriously , is there anyone who has actually made at least 2 months of profit using any prop trading firm?
There are quite a few of us on here that have received at least 2 payouts on an account before going bust. Last 12 months... 1st 6 months every month was a payout month, last 6 months I've been mostly alternating small losing months and payout months. May was a terrible month for me (losing streaks of 2 3 5 & 5 with no winning streaks), so I'm currently digging myself out of a -7% hole.
  • #16,809
  • Edited 11:51am Jun 20, 2023 8:53am | Edited 11:51am
Quoting KingLLL
{quote} Was lamborauls 100k payout 100% fake....or just rumored hearsay??

I don't believe it was fake, but if I recall correctly, he almost violated the daily limit so he definitely traded @ high risk per trade. He also has the bank roll to keep blowing accounts @ high risk until he eventually ran into a great month with >1:3 RR.
  • #16,810
  • Jun 20, 2023 12:06pm Jun 20, 2023 12:06pm
Regarding all the drama in telegram about MFFx not paying a guy, this is what I undestood:

1. He is accused of having reversed trades between firm. The proof provided is this:

Attached Image (click to enlarge)
Click to Enlarge Name: MFFx.jpg Size: 58 KB


2. Trades are a bit apart. One account is funded in MFFx and the other account (in the hidden prop) is a challenge.

3. Matt has been roasted by a lot of people so he added several thigs:
3.1 The guy is blacklisted at 8 firms
3.2 When asked how does MFFx knows that he said "broker blacklist"

I'm not sure if Takisd can enlight us a bit about this ? Are personal data share involved ? This would be bad...

Btw, I had a good impression of Matt but now that he felt the pressure he responded quite unprofessionally. So I have to bend over Takisd about the initial impression I had from Matt.
---------------
In all this mess, there is a funny thing from the kid of Blue. Instead of just keeping quiet in all this, he came with this marvelous message:

I just want to step in a let you know this exact thing is not allowed with any prop firm out there.
It takes advantage of the account being demo and not real money as if it was you would be losing REAL money.
Instead because you are using prop firm accounts it guarantees success at the loss of just demo accounts.
Picture being at a casino table and betting both ways but if you lose its only fake money but if you win on the other bet you get real money. It is clearly cheating.


So, the CEO of Blue Guardian officially assuming that we're basically playing video games. In this topic we already discussed that, of couse, but it's funny to see such a dumb thing said by a prop CEO.
  • #16,811
  • Edited 12:46pm Jun 20, 2023 12:14pm | Edited 12:46pm
In less than 3 days
Attached Image (click to enlarge)
Click to Enlarge Name: book 1.png Size: 47 KB
Intraday only.
  • #16,812
  • Jun 20, 2023 12:20pm Jun 20, 2023 12:20pm
Quoting Capablanca
Regarding all the drama in telegram about MFFx not paying a guy, this is what I undestood: 1. He is accused of having reversed trades between firm. The proof provided is this: {image} 2. Trades are a bit apart. One account is funded in MFFx and the other account (in the hidden prop) is a challenge. 3. Matt has been roasted by a lot of people so he added several thigs: 3.1 The guy is blacklisted at 8 firms 3.2 When asked how does MFFx knows that he said "broker blacklist" I'm not sure if Takisd can...
My assumption is that if the 2 props are using eightcap on the backend then they have the information to shut you down.
  • #16,813
  • Jun 20, 2023 12:25pm Jun 20, 2023 12:25pm
Quoting Capablanca
When asked how does MFFx knows that he said "broker blacklist"...
Quite likely Eightcap, and since most prop firms use them, easy to spot. No personal information would have to be shared if they all use the same broker and they discover it, broker just sends account numbers with similar trades or perfectly opposite trades.
  • #16,814
  • Jun 20, 2023 12:27pm Jun 20, 2023 12:27pm
More FundedNext drama... it will be interesting to read their response (if any).

https://twitter.com/PropJournalist/s...04591940034560

Quote
"I'm going to need a response from @FundedNext about this. A previous giveaway winner passed the challenge, but has been denied access from the funded account after being accused of having multiple people trading on their account. But they have provided convincing proof to me that this is not the case, with trades documented and logged in a journal with recordings of trades & analysis. This is not the first time I have heard of a similar situation happening with FundedNext, however previously I trusted FN that the individual was genuinely breaking the rules. But in this case the evidence I have been presented is not in FundedNext's favour. The affected user has tried to get in contact with FundedNext with their evidence that no wrongdoing was done, but so far has been ignored. If FundedNext wants to try to resolve this with the user, I have sent their twitter details in DM. If anyone else has had similar problems with FundedNext, I would appreciate hearing about them. This is not an accusation at FN, it may simply be a mistake. There is a chance the user may be in the wrong too. But I wanted to highlight the issue because so far FundedNext has not made an effort to resolve the issue with the user."
  • #16,815
  • Jun 20, 2023 12:29pm Jun 20, 2023 12:29pm
Quoting Capablanca
Regarding all the drama in telegram about MFFx not paying a guy, this is what I undestood: 1. He is accused of having reversed trades between firm. The proof provided is this: {image} 2. Trades are a bit apart. One account is funded in MFFx and the other account (in the hidden prop) is a challenge. 3. Matt has been roasted by a lot of people so he added several thigs: 3.1 The guy is blacklisted at 8 firms 3.2 When asked how does MFFx knows that he said "broker blacklist" I'm not sure if Takisd can...
If this dude is an EU citizen, he should file a complaint for breach of GDPR, its evident that MFFX has violated his privacy rights
Under GDPR, companies can face heavy fines for breaches, up to €20 million or 4% of their global turnover, whichever is higher.
  • #16,816
  • Jun 20, 2023 12:31pm Jun 20, 2023 12:31pm
One of the things I DO LOVE about the 5%ers, posted right in their terms:


The5ers is aware of the regulatory requirements in the US, and it operates by a restrictive legal advisory to fully fulfill the US law and regulatory requirements. The full document will be provided to any official enforcement organization of the US authorities by official and authorized requests to [email protected].

Now that they have an offering that actualy has value to the trader, I might give them a go again. My gut tells me not to add any additional challenges/funding with TFTP or TFF.
  • #16,817
  • Jun 20, 2023 12:36pm Jun 20, 2023 12:36pm
Quoting AaronPriest
{quote} Quite likely Eightcap, and since most prop firms use them, easy to spot. No personal information would have to be shared if they all use the same broker and they discover it, broker just sends account numbers with similar trades or perfectly opposite trades.
That was my initial thought but this he is banned in 8 firms. It could be all 8crap, of course, but I remember that MFF and E8, at least, were also involved some time ago in detecting a big operation of reverses, I believe mostly in paquistan.
So I wonder if there's more behind it in sharing personal data than just 8cap...
  • #16,818
  • Jun 20, 2023 12:41pm Jun 20, 2023 12:41pm
Quoting AaronPriest
More FundedNext drama... it will be interesting to read their response (if any). https://twitter.com/PropJournalist/s...04591940034560 {quote}
Man, that Funded Next is completely sunk in sh*. Incredible how we see so many cases regularly, proportionally to their size and other props.

It doesn't surprise me though. My experience with them was terrible. Never had to go though so much nuisance to be paid as in FN.

I like when people say in Telegram that a firm is reliable because they pay. Well, FN pays. And Blue also pays. And TPT also paid. And Funded Talent. And Blufx.

The "science" is to be able to read the signals while they pay. Glad that we have this topic.
  • #16,819
  • Jun 20, 2023 1:02pm Jun 20, 2023 1:02pm
Quoting Capablanca
When asked how does MFFx knows that he said "broker blacklist" I'm not sure if Takisd can enlight us a bit about this ? Are personal data share involved ? This would be bad...
-This will likely depend on their privacy policy. Even if MFFX privacy policy does not allow for sharing of data for this specific reasoning, a 3rd-party firm may not have such a policy, and could easily share your data with MFFX upon request. As an example, here is an excerpt from TFTP privacy policy:

Sharing Information with Third Parties

The Funded Trader may sell, rent, or lease customer information to third parties for the following reasons:
...
The Funded Trader may disclose your personal information, without notice, if required to do so by law or in the good faith belief that such action is necessary to: (a) conform to the edicts of the law or comply with legal process served on The Funded Trader or the Site; (b) protect and defend the rights or property of The Funded Trader; and/or (c) act under exigent circumstances to protect the personal safety of users of The Funded Trader, or the public.
  • #16,820
  • Jun 20, 2023 1:35pm Jun 20, 2023 1:35pm
This may be a touchy subject for some, but I will say that if any trader is trying to cheat, then good riddance to them. Probably, we are all better off if such people are blacklisted. It will likely not do anything to help people to become better traders, certainly, and they are just stealing money from these firms and potentially robbing everyone else of future opportunities.

The problem occurs when such shared data is fabricated or abused in such a way, that it results in legitimate traders losing their accounts and/or getting outright-rejected by other firms before they can even get their foot in the door.

Any firm can exaggerate or bend the truth to their benefit, and if a firm knows that you are a big earner, then that information could get slipped to another firm. Same with casinos... you will be marked and they will know that you are there before you even step foot onto the gaming floor. And if you're too good (e.g. card counter), then they will ban together to blacklist you from all casinos.

Very difficult to trust brokers or prop firms due to the nature of the business. Maybe if B-booking wasn't a thing, then we could think differently. In any case, always best to mitigate risk appropriately via diversification and to fly under the radar as best as possible; this is true for brokers and props alike.
134 traders viewing now