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What kind of news can we expect on 9/11 and after ?

I can't like this comment enough. Well said, and it mirrors my viewpoint as well.

Hello guys, Can you guys help me with this question. I was at the verification phase on FTMO but didn't meet the target, so a new free account was just given to me.

The problem is, the set me back to the first challenge phase and not the verification phase that I was in.

Wanted to confirm, is that the norm? Thanks

Yes, it's the norm.

Just rehashing some of the points in the charges against MFF here.
We know that this is just tip of the iceberg and we know all props more or less do the same thing.
This is mostly for those who love props so much.

Gotta love this line that now applies to them: “and the account is now dead [.]”


90. On April 29, 2022, Traders Global Employee A asked the Advisor to put a particular customer on an “aggressive” profile; Traders Global Employee A wrote, “these accounts [sic] who go up so high so fast please alert us if you see them. This guy has done it twice and last time we paid him 120k . . . . this guy if he lives, he will take out total over 250k from us he has very few losse[s.]”
91. On May 4, 2022, Traders Global Employee A asked the Advisor to put another customer on the “aggressive” profile. The Advisor advised Traders Global Employee A “this has been done;” Traders Global Employee A replied, “and the account is now dead [.]”
92. On June 3, 2022, the Advisor identified, at Traders Global Employee A’s request, certain accounts trading pursuant to short-term, high-frequency trading strategy. “[A]s you can see,” the Advisor wrote, “their running PnL is quite jagged but consistent upwards[.]” The Advisor suggested assigning these accounts to a profile with “a slightly less ‘aggressive’ slippage setting but would still impede performance.” Traders Global Employee A responded, “[G]o ahead with that.”
[IMG]file:///C:/Users/andre/AppData/Local/Temp/msohtmlclip1/01/clip_image053.gif[/IMG]
93. Communications between Traders Global Employee A and the Advisor reflect that Traders Global expects customer to lose money on STP.
94. On February 21, 2022, Traders Global Employee A asked the Advisor for advice on whether to STP a particular account. “Generally speaking when these types of strategies get STP’d their performance declines as they get the market experience,” wrote the Advisor. “We’d recommend keeping the account on the books for now. The new risk profile implemented should alleviate some PnL concerns.” “[O]k,” Traders Global Employee A responded. “[T]he downside of that, to me, is that he has been trading large sizes all this time, and getting paid for it.”
95. On May 12, 2022, Traders Global Employee A complained about a “suspicious” customer with “0 losses.” The Advisor explained that the customer’s trading was “valid,” and that “after taking a review of some of their other trades it looks more like they’re timing the market very well . . . .” “[O]k,” replied Traders Global Employee A, “i will get their scaled account (it will be 100k) and we can stp it or start on aggressive and go from there but i dont know if that will stop them from being profitable[.]”
96. In a June 22, 2022, email with the subject line, “STP discussion,” the Advisor told Traders Global Employee A: “I think we need to all subscribe to the concept that your clients will almost never have alpha. None of them will make money on real market conditions because they are good. Some will because they are lucky.”
D. KAZMI ACTED WITH SCIENTER
97. Kazmi knew during the Relevant Period that Traders Global was the counterparty to substantially all customer trades. Kazmi executed an agreement dated September 13, 2021, with the Advisor to lease servers for trading by Traders Global customers. The agreement specified that: “Customer [defined as Traders Global] shall be the counterparty to all trades with Client Accounts [defined to mean accounts belonging to Trades Global’s customers].”
98. Kazmi knew during the Relevant Period that “profits” paid to customers were comprised almost exclusively of fees paid by other customers, and not from the proceeds of successful trading against a third party. Kazmi was the sole signatory on Traders Global’s financial accounts during the Relevant Period. Statements from those accounts do not reflect the receipt of funds that were—or could conceivably have been—profits from successful trading against a third-party “liquidity provider.” Instead, the statements reflect the receipt of fees paid by customers via credit card or digital asset commodity transactions. The statements reflect that Traders Global distributes these funds to a smaller set of customers as purported trading profits.
99. Kazmi knew that customers were assigned to “profiles” designed to reduce the likelihood or amount of profitable trading. In a March 8, 2022, chat
Traders Global Employee A wrote (to the Advisor): “after talking to Murtusa [sp]
[Kazmi], perhaps we should just move anyone who goes above 5% profit to the scalping group we made for more real conditions instead of STPing someone?” “I like that,” replied the Advisor.

I thought they have been removed the time limitation. What do you mean by didn't meet the target?

You do realize you are THE ONLY ONE In here pro CFTC and anti MFF, right?

None of those factors exist until the rugulations come in and "protect" me from making money.

And proud of it.
We need less crooks. Agreed?
And if CFTC doesn't catch crooks, who will.

I am not against an honest business take over the helm and guide the rest of them to at least try.

Do you know that there is probably no honest prop around?

Props like MFF are the reason CFTC and the like exist.
MFF brought on CFTC, not because CFTC smelt something foul but because the stench was putting people's lives in danger.

If you like crooked and dishonest people, well I think 19 of them are on trial right now.
Are you saying the prop business is impossible without crooks like MFF? This is the best we got?

This is just too much. I am sure there are plenty of dishonest ppl around. Maybe join the mafia or something. No CFTC there.

You just found an umbrella organization under which you were happily receiving fees from the traders who got burnt.
I know it's all about me me me with your type. You're like I don't give a sht what goes on in the world as long as I am making it and making it bigggggggg.
Maybe a little structure would go a long way. Your buddy Kazmi's structure doesn't work for everyone you know.

If anyone is looking for MFF ENABLERS, there are a few here. And why? MFF's existence filled their pockets with ill gotten cash.
Same old thing...different names/actors.
What else is new in this world?

Amazing how the CFTC missed Sam Bankman-Fried.

Guess all those payoffs made them blind. So much for protecting the public.

There is time limitation to meet the profit target.

The latest ftmo challenge does not have a timeline duration.

Meanwhile, it'll better to learn how to grow a personal account by using prop firm's drawdown as personal trading base capital.

A small effort goes a long way to build up, there's no need to rush.

Cheers,
PDX

All right, this helps me when I am in a situation that calls for it. I do not mean to offend anyone by posting it.
It helps me to center myself in a way because it reminds me where I am in relation to the situation at hand.

There is no harm in sorta triangulating where you are and how you are dealing with an issue.
This does it.

While you may not experience them all (or may experience them in a different order) these include:

1. shock and disbelief.
2. denial.
3. guilt.
4. anger and bargaining.
5. depression, loneliness and reflection.
6. reconstruction (or 'working through')
7. acceptance.

Once again, I don't mean anything bad.

We experienced the shock and disbelief and arguably still are.

Denial...well, just not accepting that it could happen and listing reasons why it shouldn't have happened and it was someone else's fault...an external force...a mean one..with no feelings...3 broads pms'ing ...they should just let it go on...I was happy..just ask me..I tell'm how happy I was. bla bla bal...all denial.

guilt...OK, I am feeling guilty for participating BUT, the premisses have changed. I thought real money was involved and the glory of trading right and beating the market was the honor...ehem...the cash that was the reward of hard work...the American dream...nah..everybody's dream.
Ok, maybe not but I wasn't really sure how deep they had their hands in the control and manipulation of the traders. Of course allegedly...but what do you think?

I'm not sure...am I angry? Yes, my dream has been kinda not shattered by flailing in the wind...yes, I am and have been in challenges, so I have a stake.
bargaining? Yes, on a forum trying to promote a bit more 'order' I know it is cringe word but lack some better structure is also cringe.

Therefore DISCUSSION. IDEAS. on this forum.

Where are you peeps in the progress?

They come and they go for whatever reason. You just have to acknowledge that that's a fact regardless of it being a prop, broker, bank, or whatever before you put any money into it. I have two 200k, a 100k accounts and an on going 100k challenge with MFF. They are gone but it is alright cos I am a gambler who is able to handle lost.
Taking another challenge with another firm and life go on.

Yes, this guy literally ACTUALLY believes these agencies benefit him. Nobody is paid off, everything is on the up and up. It truly amazes me how folks are still this naive when common sense slaps you in the face every day.
The winners are getting screwed and the losers are simply going to lose where the regulators will now steer them to lose.
Nobody wins here, other than the regulators and those in their pockets.

What's the choices? does EU based firms considered safer right now?

True confessions:
I was seriously going to buy an MFF account. It was their 3rd anniversary and they were giving a sizable discount. I think 25%?
I procrastinated till the very end cause I was really not feeling too good about doing it but wanted to see what all the hype was about.
Yup, I was diving in.

Most props when they have a special, they run it till midnight of whenever it expires.
I was planning to get home and get comfy and turn on the TV that I don't have and have something to eat and then get the credit card out.
As planned, I got the page on and came to the bottom where it says enter coupon. I did and it didn't register. The field went blank.
Tried several times and same thing.
I read the details on the coupon and said it expires at 5 PM that day....lol

Oh I missed out...damn it...they give a discount and I missed it by a short time....Gerrr


I don't mean to hurt anyone's feelings but just in a little way I feel like that airplane passenger whose taxi got stuck in traffic or whatever delay caused him to miss the flight......that crashed shortly after.
I tried to be on that plane with the rest of you but I couldn't make it. I shoulda read the small print about the expiry first.....

Fundedengineer, discount code: September1, for 100k account usual price $550 after discount is $467.50.

They give discount till end September, you can sit on it till 2359 31 September to miss it.