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  • #24,141
  • Oct 13, 2023 5:57am Oct 13, 2023 5:57am
Quoting Capablanca
I saw already many dumb things but if this is true it's really stupid. MFFx posted TODAY a payout praising trader's performance. Only problem is that this traders was already banned from MFFx. Are they idiots ? https://twitter.com/MNBForex/status/1712750077901525502
Yeah, I guess they're idiots and that's why they removed the post.
  • #24,142
  • Oct 13, 2023 6:20am Oct 13, 2023 6:20am
Quoting Capablanca
I saw already many dumb things but if this is true it's really stupid. MFFx posted TODAY a payout praising trader's performance. Only problem is that this traders was already banned from MFFx. Are they idiots ? https://twitter.com/MNBForex/status/1712750077901525502 Edit: this was not true. Too bad if it was.
are you sure its not true? It seems that a few people are making this noise now .
  • #24,143
  • Oct 13, 2023 6:42am Oct 13, 2023 6:42am
Quoting Takisd
{quote} are you sure its not true? It seems that a few people are making this noise now .
The guy that said he was the banned trader deleted the post. Some people asked Matt and he denied. And MFFx still has the original post there.

Do you think Matt could have paid the guy to delete and shut up ?
  • #24,144
  • Oct 13, 2023 6:46am Oct 13, 2023 6:46am
And we thought brokers and banks were shady. Prop firms have, by far, become the most disgusting, corrupt space in the markets.
Man, it was so much better 2 years ago.......MFF, FTMO and a couple of others. This is absurd......I warned everyone, but everyone wanted "competition"....Here ya go, a bunch of corrupt mother f****ers scamming people.......how do y'all like the competition?
  • #24,145
  • Oct 13, 2023 7:10am Oct 13, 2023 7:10am
Quoting Capablanca
{quote} The guy that said he was the banned trader deleted the post. Some people asked Matt and he denied. And MFFx still has the original post there. Do you think Matt could have paid the guy to delete and shut up ?
Him and a few others do NDA's to stop people from speaking publicly in return for payment. So I would be surprised.
  • #24,146
  • Oct 13, 2023 7:27am Oct 13, 2023 7:27am
Quoting Takisd
{quote} Him and a few others do NDA's to stop people from speaking publicly in return for payment. So I would be surprised.
I wouldn't either. Who knows the truth now....
If true is very dumb
  • #24,147
  • Oct 13, 2023 8:46am Oct 13, 2023 8:46am
Quoting Capablanca
{quote} I wouldn't either. Who knows the truth now.... If true is very dumb
I usually try not to engage in topics about what backstreet kids prop firm CEOs are doing behind scenes. But I cannot help but to notice that this MFFX ceo guy does all he can, with all his might. To appear as the good guy of the forex prop firms the one and only. Due to the constant posts about how hes doing the right and others wrong. So at the time being, I do think whatever rumor would be correct to pay someone to remove posts or similar of that nature fits the bill , you keep the brand alive which the investors of MFFX fight hard for.

It is interesting tho MFFX. Since the only way as I understand to fix issues properly from past posts about them, is to contact the CEO directly as in a msg on twitter. The support structure cannot be that strong if thats needed. Im surprised it holds itself together so far. Just makes me wonder when will the investors pull the plug on MFFX . If they dont even hire competent people in its structure it screams its a hit and run scheme. I highly doubt its just one backstreet kid alone who created MFFX. They might even stick around a year or so until regulators force close them like MFF to build up the brand then let the brand work on itself then just pull the rug. But im not so sure it will last that long tbh. Even without regulators chasing atm.
  • #24,148
  • Oct 13, 2023 9:04am Oct 13, 2023 9:04am
Quoting labu
{quote} I usually try not to engage in topics about what backstreet kids prop firm CEOs are doing behind scenes. But I cannot help but to notice that this MFFX ceo guy does all he can, with all his might. To appear as the good guy of the forex prop firms the one and only. Due to the constant posts about how hes doing the right and others wrong. So at the time being, I do think whatever rumor would be correct to pay someone to remove posts or similar of that nature fits the bill , you keep the brand alive which the investors of MFFX fight hard for....
Technically, the support structure is strong in that they push to deny as many payouts as possible. The ones that seep into the social channels are the ones the ceo deals with. And its more of a "OK OK ILL PAY YOU TO GO AWAY BUT SIGN THIS". That being said, FTMO does the same as well as a few others.
  • #24,149
  • Oct 13, 2023 9:05am Oct 13, 2023 9:05am
Quoting Capablanca
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...
Update 1:
- This time 5ers paid in a bit more than 48 hours, which is not bad knowing that today is not business day in Israel
- E8 still waiting for Plane to send me the money (or to E8 to send the money to Plane, I don't know)
- I also requested a payout from Alpha. I have not used Wise so let's see how does that work this time.
  • #24,150
  • Oct 13, 2023 9:13am Oct 13, 2023 9:13am
Quoting Capablanca
{quote} Update 1: - This time 5ers paid in a bit more than 48 hours, which is not bad knowing that today is not business day in Israel - E8 still waiting for Plane to send me the money (or to E8 to send the money to Plane, I don't know) - I also requested a payout from Alpha. I have not used Wise so let's see how does that work this time.
Whats your experience with plane, is it any good? I have been looking at offramps (payout vendors) lately to see what there is that can cater to harder to bank countries and there are very few and even less that will accept an fx business.
  • #24,151
  • Oct 13, 2023 9:31am Oct 13, 2023 9:31am
Quoting Takisd
{quote} Whats your experience with plane, is it any good? I have been looking at offramps (payout vendors) lately to see what there is that can cater to harder to bank countries and there are very few and even less that will accept an fx business.
Difficult to say as I don't have all the information on the payments.

Opening account was very easy with the invitation from E8. Just fill in personal details and that's done.

KYC was not necessary which is not a good thing (I'm not expecting that E8 shares my personal documents with them so Plane doesn't have any evidence of myself in terms of documents and/or selfie - this is a red flag IMO).

For the payments it's very strange because E8 approves things in Plane but then in Plane shows pending with a future date.
When E8 started using Plane they were also learning and I remember of Dylan having proven in Telegram that E8 had sent the funds to Plane.
Nevertheless people still had that pending for a couple of days after. So, I can't be sure of who to blame for this delay between approval and receiving funds.
For example, my payout was approved on Monday and is pending for next Monday.

Another 2 things that I don't like (when compared with Deel):
1. We are the ones that have to request the payout and then E8 approves
2. We select a default bank account and the money doesn't stop in Plane. It goes straight to that bank account. I liked the feature of Deel of being abe to chose what withdraw method I wanted at any time.
  • #24,152
  • Oct 13, 2023 9:49am Oct 13, 2023 9:49am
Quoting pipmaster77
{quote} that's what Taki is stating....rumor is they are about to.
This appear strange. I think Metatrader is a Russian company with headquarters in Cyprus.
  • #24,153
  • Oct 13, 2023 10:14am Oct 13, 2023 10:14am
Quoting pipmaster77
This is absurd......I warned everyone, but everyone wanted "competition"....Here ya go, a bunch of corrupt mother f****ers scamming people.......how do y'all like the competition?
-It is unfortunate how things have turned out. But it is not surprising. We knew that this could happen. Competition is a good thing. Bad actors, and over-regulation, are not. Anyone that is currently purchasing new challenges should understand the additional risk that may be involved with that.
  • #24,154
  • Oct 13, 2023 10:26am Oct 13, 2023 10:26am
Quoting readme
{quote} This appear strange. I think Metatrader is a Russian company with headquarters in Cyprus.
Spotware (also in cyprus) refuses to have US residents on their platform ever. And will cancel any business that is found to be onboarding US residents.
  • #24,155
  • Oct 13, 2023 10:36am Oct 13, 2023 10:36am
Quoting Nsak3y
{quote}-It is unfortunate how things have turned out. But it is not surprising. We knew that this could happen. Competition is a good thing. Bad actors, and over-regulation, are not. Anyone that is currently purchasing new challenges should understand the additional risk that may be involved with that.
We knew the bad actors would come when it became so easy and inexpensive to start a prop firm. We have under capitalized people who have no idea how to manage money and even less knowledge regarding the market they are in.
This is where regulation COULD help, but the issue is, the regulators don't have a clue about the market they are in either.
So once again, it only hurts us, the traders.
  • #24,156
  • Edited 7:45pm Oct 13, 2023 10:53am | Edited 7:45pm
Quoting Takisd
{quote} The funniest thing about all this is the sensible question is : why don't these companies just get a license? The truth: It takes too long, is too expensive and none of them qualify under the professional knowledge standards. They would have to find people who know better than them to run their company.
A few years ago Darwinex was planning on accepting US clients but they ultimately scrapped that plan. I eventually talked to a gentleman in management on the phone and he said honestly, we decided it was just too much time, money, and trouble to jump through all of the hoops to do business in the US.
Pride always comes before destruction.... -Proverbs 16:18
  • #24,157
  • Oct 13, 2023 11:42am Oct 13, 2023 11:42am
Quoting Expo33
{quote} A few years ago Darwinex was planning on accepting US clients but they ultimately scrapped that plan. I eventually talked to a gentleman in management on the phone and he said honestly, we decided it was just too much time, money, and trouble to just through all of the hoops to do business in the US.
Sometimes the easy life is better than passing out in a bathtub full of 50's
  • #24,158
  • Oct 13, 2023 12:32pm Oct 13, 2023 12:32pm
We might see some big payout certificates or alot of noise about non payment after todays gold move. Yolo dream trade. I wasn't on board sadly
  • #24,159
  • Oct 13, 2023 4:04pm Oct 13, 2023 4:04pm
Quoting Capablanca
{quote} Update 1: - This time 5ers paid in a bit more than 48 hours, which is not bad knowing that today is not business day in Israel - E8 still waiting for Plane to send me the money (or to E8 to send the money to Plane, I don't know) - I also requested a payout from Alpha. I have not used Wise so let's see how does that work this time.
Update 2:
- Just received the Alpha wire requested this morning. This confirms what I suspected when I had troubles with Wise: Alpha is indeed paying fast and was able to adapt quite fast to Deel kick out.

So, right now I'm only waiting for E8/Plane, wherever the money is.
  • #24,160
  • Oct 13, 2023 4:38pm Oct 13, 2023 4:38pm
Brace for impact folks.

If you are at a prop firm other than ftmo, please ask who their dashboard provider is. If it is not inhouse, say an extra prayer. If it is, make a list here for folks to not get tangled up in whats coming.

For clarity - self made dashboard good - outsourced bad.
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