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  • #17,741
  • Jul 13, 2023 6:47am Jul 13, 2023 6:47am
Quoting Capablanca
{quote} No minimum time Bi-weekly payouts (most of them already have it) or even weekly or any time we want. 85% payout Aggressive promos like 200% refund Better scaling Etc.
From a data analytics perspective, even 30 days before a payout is too short to effectively manage order flow. Probably the faster payout ones will die the quickest if the marketplace shifts entirely to the big 2.
  • #17,742
  • Jul 13, 2023 6:57am Jul 13, 2023 6:57am
Quoting Capablanca
{quote} No minimum time Bi-weekly payouts (most of them already have it) or even weekly or any time we want. 85% payout Aggressive promos like 200% refund Better scaling Etc.
do they allow the same ip address to have more than 600k account.
  • #17,743
  • Jul 13, 2023 7:03am Jul 13, 2023 7:03am
Quoting failinforex
{quote} do they allow the same ip address to have more than 600k account.
Who ?
  • #17,744
  • Jul 13, 2023 7:08am Jul 13, 2023 7:08am
Quoting Capablanca
{quote} Who ?
sorry I tot we are just mentioning about MFF's coming announcement
  • #17,745
  • Jul 13, 2023 7:10am Jul 13, 2023 7:10am
Quoting Takisd
{quote} From a data analytics perspective, even 30 days before a payout is too short to effectively manage order flow. Probably the faster payout ones will die the quickest if the marketplace shifts entirely to the big 2.
FTMO already has 14 days default for first payment. MFF is behind's see for how long.
I believe sooner or later 14 days payout will be the industry standard and companies with 30 days, like FXIFY who is charging addons for biweekly will have to incorporate that in the pricing.
  • #17,746
  • Jul 13, 2023 7:12am Jul 13, 2023 7:12am
Quoting failinforex
{quote} sorry I tot we are just mentioning about MFF's coming announcement
I was just speculating for Nsak3y what I think we will see from the smaller firms to try to be ahead of FTMO and MFF.
  • #17,747
  • Jul 13, 2023 7:27am Jul 13, 2023 7:27am
Quoting Capablanca
{quote} I was just speculating for Nsak3y what I think we will see from the smaller firms to try to be ahead of FTMO and MFF.
your honest thoughts on 5ers?
  • #17,748
  • Jul 13, 2023 8:00am Jul 13, 2023 8:00am
Quoting KoyaAndy18
{quote} your honest thoughts on 5ers?
One of the oldest in the market, good reputation, we don't find much claims about them with refusals of payouts, strange rules, IPs and so on.
So, on what concerns to trust, I believe they are at the same level than FTMO or MFF.

About the challenge 2 phases (that's the only thing that matter to me), they have 3 major things:

1. You can't trade during news time +/- 2 minutes. You can't initiate trades during those periods. They say that if you have a trade running for hours or days and it hit TP or SL during news time that is fine, no violation. This is informal information, it's not in their site but I believe they are telling the truth. They probably don't want people that trade news.

2. To pass you need to have 3 positive days with +0.5% at least (so not possible to do 0.01 lots to complete if you pass in 1 or 2 days). This is not a problem for be

3. Unfortunately they only have 100K max allocation. Very little for me.

I'm doing a challenge with them. Credentials were automatic after payment. Credential for phase 2 took 5 minutes after I passed phase 1.

That's all I can say so far.
  • #17,749
  • Jul 13, 2023 8:34am Jul 13, 2023 8:34am
Quoting Capablanca
{quote} One of the oldest in the market, good reputation, we don't find much claims about them with refusals of payouts, strange rules, IPs and so on. So, on what concerns to trust, I believe they are at the same level than FTMO or MFF. About the challenge 2 phases (that's the only thing that matter to me), they have 3 major things: 1. You can't trade during news time +/- 2 minutes. You can't initiate trades during those periods. They say that if you have a trade running for hours or days and it hit TP or SL during news time that is fine, no violation....
I agree, 5ers are good. Not liking their recent social media presence, but track record is solid.
  • #17,750
  • Jul 13, 2023 10:04am Jul 13, 2023 10:04am
Quoting Takisd
{quote} MFF by monday i think as well. Hopefully this crushes a bunch of the nonsense firms.
They were forced to take this step because of the competition from the new props so they are actually quite beneficial to us. Let's see now how the new props respond. I think we will soon even better terms from them.
  • #17,751
  • Jul 13, 2023 10:04am Jul 13, 2023 10:04am
Quoting TraderTero
{quote} They were forced to take this step because of the competition from the new props so they are actually quite beneficial to us. Let's see now how the new props respond. I think we will soon even better terms from them.
I think death is coming. Can't you smell it?
  • #17,752
  • Jul 13, 2023 10:28am Jul 13, 2023 10:28am
Quoting Takisd
{quote} I think death is coming. Can't you smell it?
Sure. Approaching faster than I expected.
  • #17,753
  • Jul 13, 2023 10:34am Jul 13, 2023 10:34am
Quoting TraderTero
{quote} They were forced to take this step because of the competition from the new props so they are actually quite beneficial to us. Let's see now how the new props respond. I think we will soon even better terms from them.
It is not good change. Prices will increase (although they say slightly). Indices leverage will be reduced (50:1)
I am not sure why there is so much haha huhhu about unlimited trading days traders and prop firms advertising when there is already extension and retakes etc in place.
  • #17,754
  • Jul 13, 2023 10:42am Jul 13, 2023 10:42am
Quoting sampat
{quote} It is not good change. Prices will increase (although they say slightly). Indices leverage will be reduced (50:1) I am not sure why there is so much haha huhhu about unlimited trading days traders and prop firms advertising when there is already extension and retakes etc in place.
Which firm said prices would increase?
I agree with you on it not being a good thing. If they want/need to capture the "unlimited days" market, simply add it as another option, perhaps at a higher price point. I am hoping existing funded accounts are not impacted by the leverage reduction (not that I use it), but it's the principle for those of us that paased the model with the time limit(s).
  • #17,755
  • Jul 13, 2023 10:44am Jul 13, 2023 10:44am
Quoting sampat
{quote} It is not good change. Prices will increase (although they say slightly). Indices leverage will be reduced (50:1) I am not sure why there is so much haha huhhu about unlimited trading days traders and prop firms advertising when there is already extension and retakes etc in place.
Competition will likely respond with 40-50% discounts so they might have a hard time increasing pricing in the long run. Many traders prefer unlimited so it will be good for them.

Terms will be changing, I have already seen one prop offering a free retake after any type of breach with unlimited challenge.
  • #17,756
  • Jul 13, 2023 10:44am Jul 13, 2023 10:44am
Quoting pipmaster77
{quote} Which firm said prices would increase? I agree with you on it not being a good thing. If they want/need to capture the "unlimited days" market, simply add it as another option, perhaps at a higher price point. I am hoping existing funded accounts are not impacted by the leverage reduction (not that I use it), but it's the principle for those of us that paased the model with the time limit(s).
MFF announcement with more details:
Attached Image (click to enlarge)
Click to Enlarge Name: MMF announcement.PNG Size: 50 KB
  • #17,757
  • Jul 13, 2023 10:52am Jul 13, 2023 10:52am
Quoting TraderTero
{quote} Competition will likely respond with 40-50% discounts so they might have a hard time increasing pricing in the long run. Many traders prefer unlimited so it will be good for them. Terms will be changing, I have already seen one prop offering a free retake after any type of breach with unlimited challenge.
MyFF.
I think firms are using unlimited days as excuse to increase infrastructure cost. Look MyFF is already suggesting reason to increase price. TFT already increased prices of standard challenge (indirectly by adding 12% as add ons instead of default).
In theory it makes sense but less than 1 percent will use unlimited trading days.
99% will pay increase in price win for prop firms.
  • #17,758
  • Jul 13, 2023 11:06am Jul 13, 2023 11:06am
Although everyone wants cheaper prices/better deals, I believe what most are missing is the company needs to make money as well in order to payout.
At what point does it simply not become profitable enough for it to be worth the company to continue operating?
If we, as traders, wish to continue making money with these firms, this is a HUGE factor to consider, if you are looking for a longer term relationship.
  • #17,759
  • Jul 13, 2023 11:13am Jul 13, 2023 11:13am
FTMO has also gone for unlimited time.
I am trying to figure out the type of traders that may take advantage of this change.
Traders that risk a lot per trade and either pass the challenge in a few days or blow it up will not feel any difference.
Traders that almost never pass a challenge, will likely continue on the same note.
Traders that usually pass after one or more retakes have apparently some advantage here (at least I believe so). What are your views?
  • #17,760
  • Jul 13, 2023 11:16am Jul 13, 2023 11:16am
Quoting sampat
{quote} MyFF. I think firms are using unlimited days as excuse to increase infrastructure cost. Look MyFF is already suggesting reason to increase price. TFT already increased prices of standard challenge (indirectly by adding 12% as add ons instead of default). In theory it makes sense but less than 1 percent will use unlimited trading days. 99% will pay increase in price win for prop firms.
FTMO Update:
From now on, all new FTMO Challenges and Verifications have an unlimited Trading Period, the 30-day and 60-day periods are gone. This has been a heavily requested change and therefore, we are sure that your clients will be eager to hear about it.
Moreover, the release of this exciting news is accompanied by a one-off 10% discount on all FTMO Challenges, which is only valid for 36 hours from the release - until 22:30 CEST - Friday, 14 July.
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