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  • #19,481
  • Sep 1, 2023 5:14am Sep 1, 2023 5:14am
Quoting Capablanca
{quote} Funded Next is know for denying payments based on IPs stuff. Read their page about that and decide for yourself if you want to be involved with a company with these rules: https://help.fundednext.com/en/artic...-at-fundednext Funded Engineer I don't know. I think LehmanBrotha was working with them.
Correct. I've had an account with Funded Engineer, and its development has been slow - oscillating between 6-8% gain. To add: no any issues on the platform - execution, slippage and rollover swaps seem to be fine.

However, I keep monitoring the situation, and the firm seems to be growing. They're Dubai-based, so they should be fine for now. I believe an experienced trader is behind the firm, but I doubt his experience is on par with, for example Alpha Capital guys.
  • #19,482
  • Sep 1, 2023 5:18am Sep 1, 2023 5:18am
Quoting fx11trade
Is https://myfundedfx.com/ the next best thing and ofcourse FTMO or is there any other legit prop firm?
Their 2 step challenge model looks quite good. However, the 1 step challenge comes with trailing Max DD which I personally am not a big fan of. A trailing max DD literary leaves the account with a very tight breathing space and is designed to fail the traders, IMO.
Success = Practice + Patience + Persistence
  • #19,483
  • Sep 1, 2023 5:31am Sep 1, 2023 5:31am
Quoting navk
{quote} As of now, they have nothing to say. They have a case with Ontario securities and US regulators. Until then nothing will come out. We need to wait for 2 weeks. Like every body, my money too with them. Patience will help.
Its funny how people expect a company with a legal case to come out in public and tell everyone everything immediately. Like regulators like that. The best thing for any company with regulatory cases to do is to stay quiet, inform formally only the necessary and present their case to the regulator.

The funny thing is that if anyone gets through a regulator case, they will be put on the highest pedestal possible and worshipped. People generally do not come out on top with regulators especially US ones. The US regulator generally settles these things before the court cases, so its likely we will see fines or something and everything swept under the rug so that the regulator feels like they did something but didn't get outed for being vicious.

I have no information on whats going on, but it stinks to high hell of what brokers went through some years back in the US. Also if other prop firms think they are safe, they are stupid because once a prop firm answers honestly about the business, they will all get targeted. These marketing campaigns to try to take market share is only going to burn them. Safest thing for any prop firm to do right now is business as usual, tie up any loose ends and wait for their regulatory notices.
  • #19,484
  • Sep 1, 2023 5:31am Sep 1, 2023 5:31am
Quoting fxpider
{quote} Their 2 step challenge model looks quite good. However, the 1 step challenge comes with trailing Max DD which I personally am not a big fan of. A trailing max DD literary leaves the account with a very tight breathing space and is designed to fail the traders, IMO.
I don't think I've seen a 1-step challenge with non-trailing DD yet
  • #19,485
  • Sep 1, 2023 5:32am Sep 1, 2023 5:32am
Quoting CableJ
Is FTMO no longer accepting new signups?
Ouch, where have you read that ?
  • #19,486
  • Sep 1, 2023 5:33am Sep 1, 2023 5:33am
Quoting LehmanBrotha
{quote} I don't think I've seen a 1-step challenge with non-trailing DD yet
Finotive has a static one (Finotive have other problems, thoughe tough rules and not the best reputation).
  • #19,487
  • Sep 1, 2023 5:38am Sep 1, 2023 5:38am
Quoting LehmanBrotha
{quote} Correct. I've had an account with Funded Engineer, and its development has been slow - oscillating between 6-8% gain. To add: no any issues on the platform - execution, slippage and rollover swaps seem to be fine. However, I keep monitoring the situation, and the firm seems to be growing. They're Dubai-based, so they should be fine for now. I believe an experienced trader is behind the firm, but I doubt his experience is on par with, for example Alpha Capital guys.
What is your experience with Alpha Capital, had any problems with execution or pay outs?
  • #19,488
  • Sep 1, 2023 5:40am Sep 1, 2023 5:40am
Quoting Takisd
{quote} Its funny how people expect a company with a legal case to come out in public and tell everyone everything immediately. Like regulators like that. The best thing for any company with regulatory cases to do is to stay quiet, inform formally only the necessary and present their case to the regulator. The funny thing is that if anyone gets through a regulator case, they will be put on the highest pedestal possible and worshipped. People generally do not come out on top with regulators especially US ones. The US regulator generally settles these...
Some central banks have some kind of public notes on a daily basis in their sites informing about entities that had their activities suspended/revoked or warnings about entities X or Y not allowed to operate, etc.
Not sure if market regulators have some sort of thing like those. That's the only think I would expect to see (if they exist), not the entire court petition or anything else, of course.
  • #19,489
  • Sep 1, 2023 5:40am Sep 1, 2023 5:40am
Quoting Capablanca
{quote} Ouch, where have you read that ?
Yep, FTMO disabled new sign-ups. Go to their website and see that they removed the signup links. So MFF, FTMO out of the picture only a fool would put money down for new challenges anywhere.
  • #19,490
  • Sep 1, 2023 5:41am Sep 1, 2023 5:41am
Quoting Takisd
{quote} Its funny how people expect a company with a legal case to come out in public and tell everyone everything immediately. Like regulators like that. The best thing for any company with regulatory cases to do is to stay quiet, inform formally only the necessary and present their case to the regulator. The funny thing is that if anyone gets through a regulator case, they will be put on the highest pedestal possible and worshipped. People generally do not come out on top with regulators especially US ones. The US regulator generally settles these...
yes, until then trade with other firms.

It is just the topic everyone want to input. It is hot at present.

But then there are some ..really concerned. They are new funded account holders and waiting to get paid their first payout after 30 days.
Intraday only.
  • #19,491
  • Sep 1, 2023 5:45am Sep 1, 2023 5:45am
Quoting LehmanBrotha
{quote} I don't think I've seen a 1-step challenge with non-trailing DD yet
if I am not mistaken, I guess MFF had one (Rapid model) and now FundedNext also has one. Still doing the research though.
Success = Practice + Patience + Persistence
  • #19,492
  • Sep 1, 2023 5:46am Sep 1, 2023 5:46am
Quoting noox
{quote} Yep, FTMO disabled new sign-ups. Go to their website and see that they removed the signup links. So MFF, FTMO out of the picture only a fool would put money down for new challenges anywhere.
I don't tink this is true - I can still sign up, should I want too with FTMO
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
  • #19,493
  • Sep 1, 2023 5:48am Sep 1, 2023 5:48am
So what happened to MFF is what we was discussing weeks ago, and just arrived as surprise much before than expected!

Regulation soon...?

At the moment I read that MFF and also FTMO suspended, any other prop suspended?
in holiday till end of November
  • #19,494
  • Sep 1, 2023 5:49am Sep 1, 2023 5:49am
Quoting noox
{quote} Yep, FTMO disabled new sign-ups. Go to their website and see that they removed the signup links. So MFF, FTMO out of the picture only a fool would put money down for new challenges anywhere.
See this
Attached Image (click to enlarge)
Click to Enlarge Name: ftmo chat.png Size: 53 KB
Intraday only.
  • #19,495
  • Sep 1, 2023 5:53am Sep 1, 2023 5:53am
Quoting jezzode
{quote} I don't tink this is true - I can still sign up, should I want too with FTMO
WTF??? I go back to their page and the signup link is now there!

BTW CableJ also noted the same issue.
  • #19,496
  • Sep 1, 2023 5:54am Sep 1, 2023 5:54am
Quoting noox
{quote} WTF??? I go back to their page and the signup link is now there!
I would not be surprised if they are facing traffic issues with periodic problmes in their site.
  • #19,497
  • Sep 1, 2023 5:56am Sep 1, 2023 5:56am
Got a $200k "funded" account with FTMO today - couldn't have asked for a worse time, wonderful - all we can do is laugh it off
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
  • #19,498
  • Sep 1, 2023 5:59am Sep 1, 2023 5:59am
Rumour mills.

Spreading fast on every act.

lol
Intraday only.
  • #19,499
  • Sep 1, 2023 5:59am Sep 1, 2023 5:59am
Quoting jezzode
Got a $200k "funded" account with FTMO today - couldn't have asked for a worse time, wonderful - all we can do is laugh it off
If would be way much worse if you got a funded from MFF yesterday
  • #19,500
  • Sep 1, 2023 6:05am Sep 1, 2023 6:05am
Quoting Capablanca
{quote} If would be way much worse if you got a funded from MFF yesterday
It would have been a classic example of a PUMP and DUMP.
Success = Practice + Patience + Persistence
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