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  • #24,041
  • Oct 11, 2023 9:36am Oct 11, 2023 9:36am
Quoting Takisd
because you have to be able to afford to exist.
-And we are full-circle back to the truth.; you have to pay to play if you want to be able to accept US clients.
  • #24,042
  • Oct 11, 2023 9:38am Oct 11, 2023 9:38am
Quoting Stoneyrocks
{quote} I suppose you have the VIP CFD program.. which broker you chose ? FXFlat or GBEbrokers ? Much difference between the 2 in terms of spread/commissions ?
I started with the Lite - just to test the waters. So far so good. If they pay me (the tiny profit from the Lite) I will probably proceed with the VIP as that's the only one which makes sense after all (trailing the closed balance instead of open equity and 8% targets instead of 10%)

I chose GBE Brokers as it was cheaper on indices which I trade
Money is made by sitting, not trading
  • #24,043
  • Oct 11, 2023 9:43am Oct 11, 2023 9:43am
Hi guys, thank you for all the info and news (good&bad) shared here, really.

I've found myself really funny after realizing how many times I've been adding/removing on my bookmarks the same Prop Firms again and again. Sometimes it smell worst than a sports bookmaker, if we talk about all the not clear T&C and the fact they're basically not looking for traders-money maker (a business model focused on selling and reselling challenges, unclear conditions and KYC done only once you pass the challenge and not before starting).

I understood isn't a good moment to join any prop right now, and if I do, I should look into FTMO and 5ers. Now, I was just reading 5ers T&C and we all know about the questionable "inconsistency" rule - Skipping between various trading systems or methods within the same trading account, but I'm interested to know your point of view regarding the below, especially since what happened to TrAndy (congrats for at least milking the 50k btw):

Interview Video Request

The Fund reserves the right to request an interview session at any time during the term of the program with a designated risk manager from The5ers Fund. The purpose of this interview is to ensure the authenticity of the client’s strategy and behavior in accordance with the terms and conditions.


Upon request, the client agrees to make themselves available for an interview with the risk manager of the Company. The client shall provide all necessary information and cooperate fully during the interview process.


The Fund, based on its understanding and after conducting due diligence, shall have the discretion to determine the authenticity of the client’s strategy and behavior. Any rejection or failure to participate in the interview session as requested by the Fund will be considered a material breach of this T&C and may result in immediate program termination.


The client acknowledges and agrees that participation in the interview session is a fundamental requirement of the program, and failure to comply may lead to a termination of the program.


Thank you!
  • #24,044
  • Edited 9:58am Oct 11, 2023 9:44am | Edited 9:58am
Quoting Capablanca
Glow node in Telegram: {image} I don't understand this logic (I think Alpha has something similar). If I purchase a 200K account I can use system A. If I purchase 2 x 100K accounts I can't use system A in both accounts, same size and risk than 200K He says it's to manage risk. I don't get it.
Alpha has this limit for total capital - you can trade max 300K with one strategy but they allow 400K max capital. Which results in that you have to trade the remaining 100K with another strategy. But beware, by the same strategy they actually mean the same symbol. So you cannot trade same symbol on the 100K account even if you place completely different trades in different times there
Money is made by sitting, not trading
  • #24,045
  • Oct 11, 2023 11:23am Oct 11, 2023 11:23am
Quoting Vitore
{quote} Alpha has this limit for total capital - you can trade max 300K with one strategy but they allow 400K max capital. Which results in that you have to trade the remaining 100K with another strategy. But beware, by the same strategy they actually mean the same symbol. So you cannot trade same symbol on the 100K account even if you place completely different trades in different times there
This is good to know. I never went deep on it because I only have 200K with them. But if I ever purchase another one this is very valuable information because it is not clearly defined. I'm going to bookmark this in my notes. Thanks
  • #24,046
  • Oct 11, 2023 11:30am Oct 11, 2023 11:30am
my new strategy is simply to save up as much money as I can and go with a firm that doesn't force you to work your way up . It is not worth it to work your way up for 3 reasons :
1) you may not level up in even 2 years because of all the stringent rules
2) you have no way of knowing what excuse they'll have for not paying you since your busy just trying to pass levels and haven't reached a significant enough payout for them to come up with an excuse yet
3) in the amount of time you spent working your way up and meticulously trading, you're missing out on real life job experience if you're doing this full time creating resume gaps
  • #24,047
  • Oct 11, 2023 2:18pm Oct 11, 2023 2:18pm
400K FTMO (only 1 trusted to make several >5 figure payouts)
100-200K TFF (keep the payouts <5 figures)
100K 5%ers

With potential future US regulatory risk & large payout denials from smaller firms that don't have the revenue to make such payouts, I don't think anyone else can be trusted with more than 50-100K in funding.
  • #24,048
  • Oct 11, 2023 2:48pm Oct 11, 2023 2:48pm
Quoting CableJ
400K FTMO (only 1 trusted to make several >5 figure payouts) 100-200K TFF (keep the payouts <5 figures) 100K 5%ers With potential future US regulatory risk & large payout denials from smaller firms that don't have the revenue to make such payouts, I don't think anyone else can be trusted with more than 50-100K in funding.
The above with AMP futures and a couple of offshsore brokers........should be diversified enough.
  • #24,049
  • Oct 11, 2023 7:04pm Oct 11, 2023 7:04pm
Quoting TrAndy1
{quote} I think so too, they do not A-book at all. Otherwise it does not make sense to kick out consistent profitable traders. I had no retries on failed challenges too.
Check the terms. some prop firms mention about being b-book or a-book. Sometimes when they move profitable traders from b-book to a-book, they are not profitable. but I mean if you are consistent the trading data you have could be valuable to them. Maybe they just don't care.
  • #24,050
  • Oct 11, 2023 8:35pm Oct 11, 2023 8:35pm
how does the current Hamas/Israel conflict affect 5%ers?
  • #24,051
  • Oct 11, 2023 9:36pm Oct 11, 2023 9:36pm
Quoting doyathink
how does the current Hamas/Israel conflict affect 5%ers?

Gil says it doesn't impact but I would not expect him to say otherwise.
https://twitter.com/Gil_BenHur/statu...76197141860692

Anyway if 5ers ever has financial problems it will be the perfect excuse to delay payouts.
  • #24,052
  • Oct 11, 2023 9:44pm Oct 11, 2023 9:44pm
Quoting Capablanca
{quote} This is good to know. I never went deep on it because I only have 200K with them. But if I ever purchase another one this is very valuable information because it is not clearly defined. I'm going to bookmark this in my notes. Thanks
You may wanna double check with their live chat. Umm their FAQ says each account needs to have a different strategy as Vitore mentioned above, but the biggest account size you can get now, for one account, is 200K. So maybe they used to have 300K as the max size for one account, but now have it reduced to 200K? If that's the case, then you can only use one strategy for 200K at max with them.

Kinda like with E8...They used to have maximum allocation with 300K for their normal account and 100K for their ELEV account in total. But now for whatever reasons, the ELEV account is no longer available (Maybe they wanna reduce their risk as that one had a much faster scale up plan.), so their current max allocation is just 300K, not 300K +100K.
memento mori
  • #24,053
  • Oct 11, 2023 9:54pm Oct 11, 2023 9:54pm
Quoting smoki
Hi guys, thank you for all the info and news (good&bad) shared here, really. I've found myself really funny after realizing how many times I've been adding/removing on my bookmarks the same Prop Firms again and again. Sometimes it smell worst than a sports bookmaker, if we talk about all the not clear T&C and the fact they're basically not looking for traders-money maker (a business model focused on selling and reselling challenges, unclear conditions and KYC done only once you pass the challenge and not before starting). I understood isn't a good...
Hey smoki, I think the current dilemma would be...there just aren't many credible prop firms in the market now, apart from ftmo (and mff which is now frozen...but they were very fair to their traders and had some of the best offers in the market, before CFTC decided to go after them. 'Cause if the giant collapses, it's just easier to make the entire industry collapse as well..my two cents)

So if you are very keen on increasing your buying power with prop firms' funded accounts, with all factors considered (e.g. longer payout history, web traffic flow, any incident of denied payouts, not based in US), ftmo would come out on the very top, then it's 5%ers and True Forex Funds. It's like picking the less evil ones now. I don't think I have heard of anyone got a denied payout with 5%ers yet but I could be wrong.

Regarding the interviews, I personally don't think it's a problem as long as they honour the payout. I don't have any account with them yet but I might get a challenge with them later on. It's prob just a way to spot out people who pay for others to pass their challenge, if they ever find any similarities in trades.
memento mori
  • #24,054
  • Oct 11, 2023 10:35pm Oct 11, 2023 10:35pm
Final update on my challenges took 5 100k. Lost 4 all based on my super agressive trading style. Cleared bespoke( after trandy incident made me feel different about them) 2nd phase …

TAKEAWAYS - props are totally different game so dont trade with the mindset of like your own account.

Next steps
first i planned to buy ftmo 2x 200k accounts but i am dropping it now coz with same amount i can purchase 600k worth of challenges. Better to take more challenges to get comfortable.
so this week plan - buying 200k blue guardian, 200k fundedengineer and 200k (either smartprop or skilled funded trader) after coupons and discounts all levels upto same amount as ftmo challenge.
Extreme gut feeling trader
  • #24,055
  • Oct 11, 2023 10:44pm Oct 11, 2023 10:44pm
Also question for every one who are more experienced with different prop firms.

MY PLAN IS TO BUY 3 MILLION WORTH OF CHALLENGES BY the END OF THIS YEAR.

CAN SOMEONE SHARE SOME PLAN OR STRATEGY ON THE FIRMS TO DIVERSIFY THIS MUCH AMOUNT IN CHALLENGES. IT WILL BE SUPER HELPFUL.


btw i am a bit crazy when taking risks. EITHER MY WAY OR HIGHWAY


Thanks in advance….
Extreme gut feeling trader
  • #24,056
  • Oct 11, 2023 11:19pm Oct 11, 2023 11:19pm
Quoting montygoldy
Also question for every one who are more experienced with different prop firms. MY PLAN IS TO BUY 3 MILLION WORTH OF CHALLENGES BY the END OF THIS YEAR. CAN SOMEONE SHARE SOME PLAN OR STRATEGY ON THE FIRMS TO DIVERSIFY THIS MUCH AMOUNT IN CHALLENGES. IT WILL BE SUPER HELPFUL. btw i am a bit crazy when taking risks. EITHER MY WAY OR HIGHWAY Thanks in advance….
Monty, you live in canada, shouldnt you have a shirt on? Isn't it cold?
  • #24,057
  • Oct 11, 2023 11:36pm Oct 11, 2023 11:36pm
The Trading Pit is a terribly slow firm. I passed their challenge (1-phase), got funded, reached their Level 1 target and now I'm in upgrade process to Level 2

I spent about 6 hours with trading. And another 7 days waiting. And I still haven't received the Level 2 account.

Btw. if you request your payout on Tuesday, it will be processed on the following Friday. That means after 10 calendar days. Just fyi
Money is made by sitting, not trading
  • #24,058
  • Oct 11, 2023 11:53pm Oct 11, 2023 11:53pm
did anyone here not part of the industry get paid out more than their initial investment/deposit?
You have an IQ lower than 90 if you interact with this user.
  • #24,059
  • Oct 11, 2023 11:55pm Oct 11, 2023 11:55pm
I have 2 pending payouts:

E8 requested it on Monday. Surprisingly (because it was public holiday), they approved that (which was good because from that point we can resume trading).
Still on Monday they sent me the contract in Plane for signing (I had done this in the past payout but maybe they send a contract for each payout).
I signed it and Plane sent me an email on Tuesday saying that they paid.
What annoys me is that Plane marks it pending for payment on 16-Oct (Monday), so it's likely that I will only receive that on my bank account on Monday (a week after requesting it). I'm not sure who to blame for this delay, if Plane or E8. Plane doesn't seem as good as Deel was.

5ers let's see if the guy is still feeding his newborn or if they are able to pay fast this time.
  • #24,060
  • Oct 12, 2023 12:14am Oct 12, 2023 12:14am
Quoting Takisd
{quote} Monty, you live in canada, shouldnt you have a shirt on? Isn't it cold?
not always bro .. summertime … beach time
Extreme gut feeling trader
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