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  • #20,581
  • Sep 4, 2023 12:35pm Sep 4, 2023 12:35pm
Quoting Cryptosurf
JFC, three crazy broads vs MFF {image}
Funny are the names of attorneys: Mrs. "Streit" is german language and means Mrs. DISPUTE in english. Mrs. Burden...all women they need a womanizer.
  • #20,582
  • Sep 4, 2023 12:36pm Sep 4, 2023 12:36pm
The internet really isn't a place to have pragmatic discussions on a case going through due process. I suspect the CFTC bombshell released it this way for this impact. Court of public opinion now seems to be the american way.
  • #20,583
  • Sep 4, 2023 12:36pm Sep 4, 2023 12:36pm
Quoting inversio
{quote} yes if u say 1+1 = 1000 I wont mind
It is not that, but I do not want to extend that, if you could not follow me until now, sorry.
  • #20,584
  • Sep 4, 2023 12:41pm Sep 4, 2023 12:41pm
Quoting Cryptosurf
JFC, three crazy broads vs MFF {image}
Jeez, he didn't even get that pool dug in time.. too bad!

Least I know where to send my invoices now
  • #20,585
  • Sep 4, 2023 12:44pm Sep 4, 2023 12:44pm
Quoting Cryptosurf
JFC, three crazy broads vs MFF {image}

oww, poor Murtuza gonna get Karen'd
  • #20,586
  • Sep 4, 2023 12:46pm Sep 4, 2023 12:46pm
Quoting TrAndy1
What igorant person from Apex...(of course not all but certain aspects are involved in the latest CFTC claim) {image}
Apex Funding doesn't have Discord. TopStep does, here is a comment from their Discord Mod:

DOLBY — 09/01/2023 7:50 PM
Please stop the chatter about MFF. We are not Forex. We are Futures, headquartered in Chicago and we've been in business for 12 years. We are in full compliance with all CFTC & NFA regulations. Forex Firms are the wild west. It is illegal to offer > 50:1 leverage and CFD's to USA citizens. Simple as that. Do your own Due Diligence. At Topstep we trade Forex Futures, which are traded on a regulated exchange (the CME)
  • #20,587
  • Sep 4, 2023 12:51pm Sep 4, 2023 12:51pm
TopStep CEO gives a Trading Influencer a tour of the old CBoT trading pit:
Inserted Video
  • #20,588
  • Sep 4, 2023 12:57pm Sep 4, 2023 12:57pm
Quoting Dirac
{quote} Apex Funding doesn't have Discord. TopStep does, here is a comment from their Discord Mod: DOLBY — 09/01/2023 7:50 PM Please stop the chatter about MFF. We are not Forex. We are Futures, headquartered in Chicago and we've been in business for 12 years. We are in full compliance with all CFTC & NFA regulations. Forex Firms are the wild west. It is illegal to offer > 50:1 leverage and CFD's to USA citizens. Simple as that. Do your own Due Diligence. At Topstep we trade Forex Futures, which are traded on a regulated exchange (the CME)
Beside the fact that >99.99% of trades were on VIRTUAL CFDs so NOT REAL CFDs, so they, CFTC cannot complain about that. Virtual is not real it can be anything XXX.
  • #20,589
  • Sep 4, 2023 12:58pm Sep 4, 2023 12:58pm
Quoting Cryptosurf
JFC, three crazy broads vs MFF {image}
I wonder how much trading experience and/or knowledge of the fx indusrty they have bewteen the 3 of them?
Do they even know the defintion of slippage? What drawdown is? The accusations ACTUALLY say the DD was there to make people fail.....WHAT?????
  • #20,590
  • Sep 4, 2023 1:03pm Sep 4, 2023 1:03pm
Quoting pipmaster77
{quote} I wonder how much trading experience and/or knowledge of the fx indusrty they have bewteen the 3 of them? Do they even know the defintion of slippage? What drawdown is? The accusations ACTUALLY say the DD was there to make people fail.....WHAT?????
If CFDs are banned and they have no FX broker industry ? The attorneys must be very old, maybe the Chief Mrs. Dispute, that they have knowledge from over past 10 years ago. Difficult to say, but they work at CFTC. How was FX broker industry before FXCM default over 10 years ago in USA ? You know more I guess. I never looked on US brokers regarding FX.
  • #20,591
  • Sep 4, 2023 1:08pm Sep 4, 2023 1:08pm
Quoting pipmaster77
{quote} I wonder how much trading experience and/or knowledge of the fx indusrty they have bewteen the 3 of them? Do they even know the defintion of slippage? What drawdown is? The accusations ACTUALLY say the DD was there to make people fail.....WHAT?????
If you use equity based daily DD taken at the time when spreads are 10-20x higher than during normal trading time it can easily make some less experienced traders fail. Its actually quite unfair way to calculate daily DD compared to balanced based. Not sure which one MFF used though.
  • #20,592
  • Sep 4, 2023 1:14pm Sep 4, 2023 1:14pm
Quoting pipmaster77
The accusations ACTUALLY say the DD was there to make people fail.....WHAT?????
-Well, if we are being truly objective and honest about it, the daily draw-down did serve that purpose. If the funds were coming originally from the pockets of the firm, then a different argument could be made, but the truth is, they weren't, and if you violated the daily, then you lost the account, even if the overall balance was net-positive.

Since there was no real capital originating from the firm in order to fund the account, the daily draw-down did not actually serve the purpose of protecting the fund's capital, it served the purpose of protecting the fund's profits that were gained from trader's capital, by making it easier for traders to lose their accounts.

That being said, we knew the terms and we agreed to play by those rules. There was nothing hidden about that. Unfortunately for MFF, they will likely not have the opportunity to place any actual traders on the stand to speak in their defense, as this will probably be settled before then.
  • #20,593
  • Sep 4, 2023 1:14pm Sep 4, 2023 1:14pm
MyForexFunds Ponzi Scheme Explained - YouTube
so his intro says MFF officially closed, so meaning the fight is over?
  • #20,594
  • Sep 4, 2023 1:34pm Sep 4, 2023 1:34pm
Quoting TraderTero
{quote} If you use equity based daily DD taken at the time when spreads are 10-20x higher than during normal trading time it can easily make some less experienced traders fail. Its actually quite unfair way to calculate daily DD compared to balanced based. Not sure which one MFF used though.
and that same "inexperienced" trader blows his entire personal account at rollover as well. It's all relative. If your position is large enough to lose your account at rollover....shouldn't be trading.
  • #20,595
  • Edited 1:49pm Sep 4, 2023 1:39pm | Edited 1:49pm
Quoting pipmaster77
{quote} and that same "inexperienced" trader blows his entire personal account at rollover as well. It's all relative. If your position is large enough to lose your account at rollover....shouldn't be trading.
I believe that you have been happy to receive your share form the inexperienced traders losses

There is also often SL hunting connected to roll over spreads by props and brokers. The whole RO spread widening is a rip off created by the LP's (banks).
  • #20,596
  • Sep 4, 2023 1:40pm Sep 4, 2023 1:40pm
Quoting pipmaster77
{quote} I wonder how much trading experience and/or knowledge of the fx indusrty they have bewteen the 3 of them? Do they even know the defintion of slippage? What drawdown is? The accusations ACTUALLY say the DD was there to make people fail.....WHAT?????
If thats the case then every Futures prop firm is in violation as well.
Trade with confidence, trade without fear.
  • #20,597
  • Sep 4, 2023 1:40pm Sep 4, 2023 1:40pm
Any experiences with MyFlashFunding?

https://www.myflashfunding.com/

Inserted Video


UK based, 4%dd daily, 8%static overall dd, 6% target, unlimited time, 2 step
slightly different for 1 step... trailing dd for that.
  • #20,598
  • Sep 4, 2023 1:44pm Sep 4, 2023 1:44pm
Quoting doyathink
Any experiences with MyFlashFunding? https://www.myflashfunding.com/ https://www.youtube.com/watch?v=P-cDSrsMPho UK based, 4%dd daily, 8%static overall dd, 6% target, unlimited time, 2 step slightly different for 1 step... trailing dd for that.
Score on their 2 step offer is ca. 5.3 not bad but not very good. MFF had over 7.3 score with around 50% profit margin we know now. So that is the benchmark.
  • #20,599
  • Sep 4, 2023 1:46pm Sep 4, 2023 1:46pm
Quoting doyathink
Any experiences with MyFlashFunding? https://www.myflashfunding.com/ https://www.youtube.com/watch?v=P-cDSrsMPho UK based, 4%dd daily, 8%static overall dd, 6% target, unlimited time, 2 step slightly different for 1 step... trailing dd for that.
US based: 401 Pine Street, Saint Louis MO 63102
  • #20,600
  • Sep 4, 2023 1:50pm Sep 4, 2023 1:50pm
Quoting Boulder
{quote} That looks good, Push this ea to all prop firms. "get rich or die trying",,
Just got back from a weekend away and can't believe all the drama with MFF, its so sad. Hope everything works out for them.
Took me a while to save up some money and early last week I purchased their 2 phase eval and took 4 trades...lol and now all this.

I think you mentioned in your previous post that you traded with RYZE.
How was your experience with them, if not good then I'll go with FXIFY.

I'll appreciate input from other traders as well regarding prop firms. I'm looking for a low priced eval at this stage. Thankx guys.
I really hope that MFF finds a way out of this mess.
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