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Anyone trading with a Prop firm 6 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

prop firm new model - my trading journey 871 replies

Attachments: Prop Firm Hub
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Prop Firm Hub

Quoting AaronPriest
More hidden rules from Funded Next. Their FAQ does not state that EAs need to undergo verification or that you have to send in source code. Yet they stopped payment on someone with the below email (who claims they didn't use an EA, but I have no idea). They solved the issue quickly I guess and the account owner is satisfied, and I wouldn't even mention this if they said no EAs without permission on their website (like Alpha Capital Group), but I hate hidden rules or rules that change at payout. I attached their FAQ for reference. {image} {image}...
There's not a single week going on without multiple cases against Funded Next in the Telegram groups. It's incredible how they are still so popular.
Quoting zamans98
{quote} wait, ALPHA CAPITAL GROUP equates to MOST reliable? Did they paid you for marketing & promotion? Come clean or else you will be tagged as liar
I received 2 payouts from them (+refund). Last one this week, still through Deel (only company so far where I still received with Deel since this MFF mess).

The trading conditions are very good. No commissions, tight spreads and almost no slippage (this may not be a good thing but that's another conversation for those that understand what I mean).

Their funded credentials process is a joke. 4 business days to provide a funded credentials with the excuse that they "need to set up the risk parameter for each trader".

Regarding honesty, although I was paid twice I didn't like what they did to me. They should have refunded me 1XX% of the fee (I used some code when enrolled) and they only returned 100%. I contacted them and they said that I had to wait until next payout and put that in the notes (what if I didn't make the second payout ?).

An honest company would have corrected the mistake and immediately wire the difference (that's what FXIFY did with a similar mistake - in a couple of minutes after contacting live chat I had the difference in Deel).

Now n my absence but I'm going to issue the marketing invoice both to ACG and FXIFY because this is double post promotion and I need to eat (though I will only charge half the fee to ACG as I bad mouth them a bit here - I hope I don't get fired).
Quoting navk
The ban on canadian residents has been lifted by myfundedfx. Earlier they were saying, those who has already signed up...not an issue. Now, new sign ups also welcome.
that's great. may be they find out that FTC is not hunting for this industry player only for those who has serious scam issues,

https://twitter.com/CFTC/status/1704204121761255631

in this twit the message is also something like this. if they want to go for the industry they wont look for the whistleblower, may be they will go after for the industry but at this moment sign is not like this( my observation) .
TFT on the 10K cap
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The good thing is. I get now a 82.5% profit split because I made a review on trustpilot for Bespoke. They reward this. But this is nothing special as they have many and regular very good promo codes. So higher profit splits up 90% are very common for them.
Yeah funded next is kinda a gg case. This is in their discord haha:

Quote
this are the rules with Fundednext for Ea However, using any of the following strategies is strictly forbidden:

High-Frequency Trading (Manually or Using a Bot)
Reverse Arbitrage Trading
Hedge Arbitrage Trading.
Latency Arbitrage Trading.
Tick Scalping
Grid trading
One-sided Betting
Copying trades from other traders.

disappointing. I am opening several positions on the same chart, this can be considered as grid, no sls, but i do have a hard value SL if things go south. Trying to see if we can create a list for the prop firms that are ok with this style of trading. I guess this companies do try to slip traders left and right.
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The Bespoke is funny with those rules of grid.

So I guess I can't:
- buy 10 lots @1.20
- buy 10 lots @1.19
- buy 10 lots @1.18 (this last one makes the trade a grid trading)

However I can:
- sell 20 lots at 1.18 (so I'm out os position)
- buy 30 fresh lots at 1.18

This is not grid anymore

Commissions and slippage apart, what risk are they reducing with that grid rule if I simply do this ?
Quoting Capablanca
The Bespoke is funny with those rules of grid. So I guess I can't: - buy 10 lots @1.20 - buy 10 lots @1.19 - buy 10 lots @1.18 (this last one makes the trade a grid trading) However I can: - sell 20 lots at 1.18 (so I'm out os position) - buy 30 fresh lots at 1.18 This is not grid anymore Commissions and slippage apart, what risk are they reducing with that grid rule if I simply do this ?
Yes, you can just close and reopen higher lot size. That is allowed.
Quoting Capablanca
The Bespoke is funny with those rules of grid. So I guess I can't: - buy 10 lots @1.20 - buy 10 lots @1.19 - buy 10 lots @1.18 (this last one makes the trade a grid trading) However I can: - sell 20 lots at 1.18 (so I'm out os position) - buy 30 fresh lots at 1.18 This is not grid anymore Commissions and slippage apart, what risk are they reducing with that grid rule if I simply do this ?


I don't think grid and DCA rules are fair , prop can banned martingale but should allow these 2, daily dd limit overall dd limit already there trade should have some room to trade freely. if they wnt they can add max lot size rules as well.
Quoting TrAndy1
{quote} Yes, you can just close and reopen higher lot size. That is allowed.
Which makes the existing rule very dumb
Quoting Capablanca
{quote} Which makes the existing rule very dumb
which is good for us traders.
Quoting TrAndy1
{quote} which is good for us traders.
I don't see how such a retarded rule can be good for traders but I'm open for new opinions about how good is it
Blue Guardian CEO discusses MFF:

Inserted Video
Quoting TrAndy1
Good Morning! Had a good start today. Around 8k profit today.
Congrats!! all manual trades? What are you trading?
As the days go on it gets harder to comment on stupid stuff. So instead I will just roll eyes :roll_eyes:
Quoting TrAndy1
{quote} Yes, you can just close and reopen higher lot size. That is allowed.
do they have consistency rules? The new firms I use not allow grid also have consistency rules on profit and trading size 33%,
Quoting Takisd
Here is a list (excluding MFF) where there are some serious red flags going on right now: Myfundedfx - Massive slippage on limit orders, refusing legit payouts by saying there are snitches TFT - Payouts missing, lots and lots of payouts missing Fundedengineer - Refusing legit payouts Bespoke - Refusing legit payouts Leveledupsociety - Refusing all payouts fundingpips - not so much but a few cases of wrongful banning Rocket21 - Refusing legit payouts Any others?
Refusing Payout => same as in any typical CFD brokers, where 90% of the trades are in-house, B-Book

you win, they lose. So as long as all potential CFD Traders buying the VIRTUAL/SIMULATED accounts and lose, they have no money to pay LEGITIMATE profit made by any CFD Trader
Quoting zamans98
{quote} Refusing Payout => same as in any typical CFD brokers, where 90% of the trades are in-house, B-Book you win, they lose. So as long as all potential CFD Traders buying the VIRTUAL/SIMULATED accounts and lose, they have no money to pay LEGITIMATE profit made by any CFD Trader
Only scammy offshore brokers deny payouts, if u use a reputable broker your chances are low of having a refused payout, only if u cheated
Quoting zamans98
{quote} Refusing Payout => same as in any typical CFD brokers, where 90% of the trades are in-house, B-Book you win, they lose. So as long as all potential CFD Traders buying the VIRTUAL/SIMULATED accounts and lose, they have no money to pay LEGITIMATE profit made by any CFD Trader
Seems like a pure nonsense to me. If 90% are internalized then they don't represent any risk to the broker (orders are matched among the traders and result in zero net exposure). The remaining 10% are usually hedged on the market as part of the risk mitigation.

But i'm not an expert, other have much better insight into how cfd brokers work
Money is made by sitting, not trading
Quoting Vitore
{quote} Seems like a pure nonsense to me. If 90% are internalized then they don't represent any risk to the broker (orders are matched among the traders and result in zero net exposure). The remaining 10% are usually hedged on the market as part of the risk mitigation. But i'm not an expert, other have much better insight into how cfd brokers work
You kinda get it but to get enough mass to internally hedge you need to be icmarkets.
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