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prop firm new model - my trading journey 871 replies

Anyone trading with a Prop firm 2 replies

So I accepted a Prop Trading job in South Beach Miami 43 replies

Attachments: Prop Firm Hub
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Prop Firm Hub

hopefully there will still exist futures prop firms but I would prefer forex because tradingpit has a time limit for futures and you have to download specialized software, theres no online metatrader 5 which is annoying. According to this article though, it's not necessary for them to do too much but then again looking back on the whole mbtrading, dbfx, fxcm era I'm still pessimistic ; other futures firms have end of week and end of day closing of positions, closing of positions around FOMC and news events etc, this is not good for swing traders.
https://www.financemagnates.com/fore...-prop-trading/
Oh boy there are a lot of TFT not paying out complaints going on right now. And of course, subsequent banning from discord.
Dose any one has any list which mentioned which prop firm use which broker and which use own dara feed .

Planning to buy 2 new acc with 2 different firm. And want to avoid those who use own data feeds.
Quoting inversio
Dose any one has any list which mentioned which prop firm use which broker and which use own dara feed . Planning to buy 2 new acc with 2 different firm. And want to avoid those who use own data feeds.
Some of the most reliable firms (FTMO, The5ers, Alpha Capital Group, etc.) are the ones that use their own servers with their own liquidity providers. Sticking with ones that use white label rebrands of brokers like Eightcap, ThinkMarkets, etc. aren't necessarily more trustworthy just because it's a 3rd party broker.

Here is a list though, it's not up to date and some information is wrong:
https://forexpropreviews.com/which-b...rop-firms-use/
Quoting AaronPriest
{quote} Some of the most reliable firms (FTMO, The5ers, Alpha Capital Group, etc.) are the ones that use their own servers with their own liquidity providers. Sticking with ones that use white label rebrands of brokers like Eightcap, ThinkMarkets, etc. aren't necessarily more trustworthy just because it's a 3rd party broker. Here is a list though, it's not up to date and some information is wrong: https://forexpropreviews.com/which-b...rop-firms-use/

thanks for your information. yes ur right in some extent also. after mff incident I visited different platforms for prop related infos and at this moment prop offers 3rd party brokers are my preffered list. what I found on net prop firms who declining payouts almost all uses 3rd party brokers. and who use own feed ull hardly find any payout declining mails on net. this not bcz they don't do any trick, but they have control that they can kill the ACC before reach payout line. its common in every community if anyone claim that ACC busted due to props cheating bunch of ppl come and oppose that and defend that prop if they like that. but on a payout-declining case not much protest comes out for firms. so less payout declining prop should be more reliable than other in my observation.

bcz here we don't have option to pick a good/honest props here we only can pick a less dishonest prop if we want to trade with this kind of prop.
e8 now seems to start correcting things after MFF issue
e8 always charged me with negative swap charges no matter i buy or sell anything always negative swap, and they also carry big spreads
and swap charges are too high.. and on days like tuesday and thursday it charged me 3 to 4 times than normal swap negative charging
in some trades my swaps crossed over 800$ in total

now they are giving positive swap where it is necessary
but because its positive, we are not getting 3 to 4 times positive swaps, it used to be 3 to 4 times when its negative swap
all these huge negative swaps made me to adjust stop losses the next day as not to hit the daily loss limit, result in getting my sl hit
thank god that they at least bring in the positive swap, this is a good change
Quoting genuine007
e8 now seems to start correcting things after MFF issue e8 always charged me with negative swap charges no matter i buy or sell anything always negative swap, and they also carry big spreads and swap charges are too high.. and on days like tuesday and thursday it charged me 3 to 4 times than normal swap negative charging in some trades my swaps crossed over 800$ in total now they are giving positive swap where it is necessary but because its positive, we are not getting 3 to 4 times positive swaps, it used to be 3 to 4 times when its negative swap...

really good news, I really want regulation take steps in this industry to offer much better trading environment to traders. even if profit slipts get down to 40-50% rage for traders
Quoting Takisd
Oh boy there are a lot of TFT not paying out complaints going on right now. And of course, subsequent banning from discord.
Not sure if this is true (cap of 10K in payouts):

Attached Image (click to enlarge)
Click to Enlarge Name: TFT.jpeg Size: 184 KB


Something that Wise is know if for keeping themselves very far away of everything that can cause them problems. They almost don't touch crypto exchanges transfers, very limited FX brokers, offshores it's something they don't like, etc.

People using Wise for props it will be a question of time until they have an invitation to close their accounts. Clock is ticking until Wise realize what all this Prop thing is about.
That TFT with Angelo does not realize he is harming the whole prop industry with his behavior. I do not get it. That is why the regulators are really stepping in...so bad.
Quoting TrAndy1
That TFT with Angelo does not realize he is harming the whole prop industry with his behavior. I do not get it. That is why the regulators are really stepping in...so bad.
What we saw with MFF is that one can earn a lot of money, really piles of money, having a prop with good trading conditions and paying timely and without excuses. No need to be a crook. I guess the guys of FTMO are also pretty rich.
Quoting Capablanca
{quote} What we saw with MFF is that one can earn a lot of money, really piles of money, having a prop with good trading conditions and paying timely and without excuses. No need to be a crook. I guess the guys of FTMO are also pretty rich.
That is why he needs to be more honest and pay all the payouts unlimited. Only with integrity and honesty you can survive any longer. Otherwise regulators shut down.
MFF will be fined for sure, that question is only how much. But then also TFT will be fined as regulators have even much more ammo on that prop firm to claim about. So as a result TFT could be fined much higher than MFF because of their recent behavior. Without doubts they have much more shady practices to us shown. So bad.
Quoting Capablanca
{quote} What we saw with MFF is that one can earn a lot of money, really piles of money, having a prop with good trading conditions and paying timely and without excuses. No need to be a crook. I guess the guys of FTMO are also pretty rich.
Makes one wonder why theres so many scums in this prop firm area and just two FTMO and MFF handled it well. Im guessing the good prop firms got some major investors in their startup phase to handle the rough payouts to make the model work in beginning stages. Otherwise I don't see why the rest of the 100s prop firms treats the clients as garbage. So the majority of prop firms probably got no investors or just hoping for a good start that no "experienced" traders use them until in later stages to accumulate payout capital.

Then Im also guessing those minor prop firms who do have investors are the ones with the consistency or other extreme rules. The investors in those prop firms arent as willing to spend as they did with MFF and FTMO meaning huge amounts payouts and in start phase. Thus tightens the rules even in early beginnings of a prop firm.

Then it makes one wonder even more. Was MFF a setup from the start "probably not intentional" and thus regulators allowed it to exist for years without shutting it down. Until they got enough data to be able to shut it all down eventually not just MFF of course. I said before the sudden unlimited time in challenges which the so kind prop firms suddenly started to provide to clients was out of total panic since they knew something was up. Maybe to make it appear they arent so bad after all to their clients and regulators. Yea years too late for that change.
Before the unlimited time to pass Phase 1 it was pretty very diffcult to pass. You needed to flip your account within 30 days, maybe some extentions to that but then that was it. You cannot expect even from professional traders to flip their account every time within a month to get their challenges passed. So luck was always involved since the beginning. That is why regulators needed to step in to make more easier and better conditions available to the public. Also nearly 2% of all FX traders worldwide had some kind of prop firm challenges running so this was already huge based on the overall market share.
This is just one side of the story but anyway the Dubai thing instead of England should be easy to investigate (I haven't because I'm not with them).
Attached Image (click to enlarge)
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what's your thoughts on "darwinex"
i just read and watch some video about "darwinex"
do anybody here use "darwinex"
do anybody get access to capital to trade on??

i see that there are two types of accounts.
i. one is darwinex zero (you have to pay 100 $ to open account, and then pay 40 $ per month to stay on darwinex to keep trading and earn score above 75)
ii. second is darwinex classic (its free but in this it is very hard to score above 75)

i see people not able to score above 75 even after 6 months of trading. we will see any benefit of darwinex if we get the above 75 score otherwise it is of no use imo.
there is some formula used by darwinex to calculate your sore, if it is below 75 you cannot get any funds in your life for trade and the profit share is like just 15%, well i will not say much about the profit share, but i think i read correct, its just 15%. further, there are hell lot of rules which i don't able to understand, rules are not as simple as funded prop firms.

so what do you want to say about "darwinex" ??
and i am sure there will be a lot more like "darwinex" same we have different prop firms..
but i just come to know about this only..
Quoting Capablanca
This is just one side of the story but anyway the Dubai thing instead of England should be easy to investigate (I haven't because I'm not with them). {image}
opened account july 18,2023
on july 21, 2023 he made 37,901 $ in live account
[in just 4 days] (offcourse they will deny payouts to gamblers)
{otherwise they will go bankrupt if people like these starts joining them)
on august 4, 2023 he requested withdrawal.. why he showed patience in putting withdrawl request?? why he waited 14 days to place withdrawal request...

the man who passed phase1, phase2, got live, and made 37k in just 4 days, why the same man will wait for 14 days to request payout kind a strange. is not it??
Quoting Capablanca
This is just one side of the story but anyway the Dubai thing instead of England should be easy to investigate (I haven't because I'm not with them). {image}
What I do not get, is, that FE said he was not doing HFT trading style after he claimed not do so. But then again with the same reason they denied the payout again. I mean how this can be ? There is no sound logic behind those behavior from this prop. There might be dispute between Funded Engineer and Scaled Trader company I guess. But here it is, the legal case. Interesting to see if it will be ever able to public to see how it plays out on the court, especially with the recent steps from regulators.
Why does it seem like by taking MFF out of the picture at least temporarily it unraveled everyone else. All I see is like hardcore fighting in public now about stuff MFF never did. Look at mffx slippage holy crap 100 pips on a limit? Lol
Quoting genuine007
{quote} opened account july 18,2023 on july 21, 2023 he made 37,901 $ in live account [in just 4 days] (offcourse they will deny payouts to gamblers) {otherwise they will go bankrupt if people like these starts joining them) on august 4, 2023 he requested withdrawal.. why he showed patience in putting withdrawl request?? why he waited 14 days to place withdrawal request... the man who passed phase1, phase2, got live, and made 37k in just 4 days, why the same man will wait for 14 days to request payout kind a strange. is not it??
because is 14 to request first withdrawal bro
He is also on trustpilot with his negative review. Maybe this review will be deleted soon.

"Disheartening Experience with Funded Engineer Team

I must express my profound disappointment with my experience dealing with the Funded Engineer Team. Placing trust in them has proven to be a grave mistake, as they have consistently let me down.

My case centered around a challenge refund for Mr. Shams ul Hassan, and it has been a turbulent journey filled with confusion and frustration. The team leveled serious allegations against Mr. Hassan, including accusations of high-frequency trading (HFT) and employing a third party for trading activities. However, the evidence they presented to support these claims was far from convincing.

When we provided substantial evidence to refute their allegations, including screenshots and a video chat , their response was either delayed or entirely absent. We even offered to arrange a live interview to expedite the resolution process, but unfortunately, they did not seize the opportunity promptly.

What is particularly disconcerting is that our trading community has been closely monitoring this case. The Funded Engineer Team's lack of transparency and their delayed responses have cast serious doubts on their credibility and integrity.

Regrettably, it appears that my trust in the Funded Engineer Team has been shattered. Their handling of this case has been unprofessional, and I would strongly advise anyone considering their services to exercise caution. It is a profoundly disappointing experience, and I am left with no choice but to contemplate legal action and the public disclosure of their company registration details in pursuit of transparency.

In summary, they have withheld the payout of $37,901 and the $500,000 live account of Mr. Shams ul Hassan based on unfounded allegations."
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