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  • #27,621
  • Dec 31, 2023 4:50am Dec 31, 2023 4:50am
Quoting Nsak3y
{quote}-This statement seems very ambiguous and specific at the same time.
BROS BEEN COOKING..... SOON TM.. WHO WILL BE KING OF PROPLANDIA. certainly not a 2ft high midget who abuses women.
  • #27,622
  • Dec 31, 2023 7:11am Dec 31, 2023 7:11am
You can now lowkey purchase a 20k bootcamp from the 5ers if you log in.
  • #27,623
  • Dec 31, 2023 7:24am Dec 31, 2023 7:24am
Happy New Year to all fellow traders in this thread. Hoping for you good health, bonding with family and friends, and of course many many payouts
Don't give up on your dreams. Keep sleeping.
  • #27,624
  • Dec 31, 2023 8:00am Dec 31, 2023 8:00am
Quoting Takisd
BROS BEEN COOKING..... SOON TM.. WHO WILL BE KING OF PROPLANDIA. certainly not a 2ft high midget who abuses women.
-I have not idea what this means.
  • #27,625
  • Dec 31, 2023 10:13am Dec 31, 2023 10:13am
Quoting Nsak3y
{quote}-I have not idea what this means.
was just pretending to the angelo, the midget woman abuser.
  • #27,626
  • Edited 10:33am Dec 31, 2023 10:22am | Edited 10:33am
Quoting Takisd
{quote} was just pretending to the angelo, the midget woman abuser.
Since it was the CFTC's move to pursue settlement talks, MFF & CFTC are currently negotiating and the Ontario case date is in Jan.... do you anticipate this will be wrapped up by Feb?

The one thing I do wish the CFTC would get out of this is min capital requirements to operate in the US... there are way too many undercapitalized doggy firms run by inexperienced young CEOs in the current market.
  • #27,627
  • Dec 31, 2023 11:14am Dec 31, 2023 11:14am
Quoting CableJ
{quote} Since it was the CFTC's move to pursue settlement talks, MFF & CFTC are currently negotiating and the Ontario case date is in Jan.... do you anticipate this will be wrapped up by Feb? The one thing I do wish the CFTC would get out of this is min capital requirements to operate in the US... there are way too many undercapitalized doggy firms run by inexperienced young CEOs in the current market.
I have no idea. The messages in the public and what is going on in private is not the same. There is a lot of posturing and "agents" speaking out to make the narrative. Whether it be me or 500 others, the truth is no one knows what the outcome will be.

For Canada, my understanding is they are running interference for the CFTC but on Jan 16 that should be resolved. In canada the jurisdiction question is easier, I also expect for canada MFF would be more inclined to say "its fine, we will get out of canada". The CFTC themselves have also changed from "oh it was fraud" to "oh they need to be registered. Tomorrow it could be "oh they should be neutered" no one knows. I think the jurisdiction argument is going to pop up again but with what? how? In what context? With what motion?

This is why posting stuff in public is nefarious, be it by me or by others. Because the answer is - I dont know, no one knows, to claim to know is ignorant.

What I would like to happen, which is completely unrelated to how the case is going, is that some sort of soft regulation appears that isnt the same as broker regulation because that would be absolutely stupid. Ultimately registering as an RFED would make 0 sense for prop firms because 99.9% of the regulation does not apply but you would still have to be in compliance with it. So some meet in the middle type of regulation would be great. It would allow the industry to live and keep the 18 yr olds out. Unfortunately, that might require congress and its an election year so its going to be an RFED or nothing result which ever way it pans out. For europe there is possibility of regulation but from what I am hearing there are regulators who want an outright ban but thats heresy and nothing to latch onto. My local regulator has stated that without the resolution of the MFF case, any prop firm should be considered illegal as the actual "violation" is not clear. So we wait into the new year and see what the forex gods have for us, i continue to not trade retail props until everything is also clear and I just finishing making homemade foccacia with mostly home grown ingredients. Life is good, don't let prop firms get you down.
  • #27,628
  • Dec 31, 2023 12:53pm Dec 31, 2023 12:53pm
Quoting Takisd
{quote} I haven't heard much about ftmo lately, but the nda's were always there. The discounts are concerning because ftmo has never done discounts even when MFF ripped their market share to pieces. I think feb/march somethings will appear that basically kill the ponzi props.
who are the non-ponzis?

ftmo, 5%ers... and?
  • #27,629
  • Dec 31, 2023 1:07pm Dec 31, 2023 1:07pm
Quoting doyathink
{quote} who are the non-ponzis? ftmo, 5%ers... and?
No one yet. At least thats my belief, willing to accept i am wrong if someone proves it.
  • #27,630
  • Dec 31, 2023 1:08pm Dec 31, 2023 1:08pm
Quoting doyathink
{quote} especially now... christmas deal... 5% for each stage I'm tempted. Except 1. US based...though they seem to be positioning to move if MFF fallout spreads. 2. some complaints of brutal spread and slipping at various times that killed accounts 3. They're on Takisd's list of financially vulnerable companies... thoughts?
atleast they are older than rest of the new firms and people getting paid here….thats good in my books
Extreme gut feeling trader
  • #27,631
  • Dec 31, 2023 1:47pm Dec 31, 2023 1:47pm
Quoting Takisd
{quote} No one yet. At least thats my belief, willing to accept i am wrong if someone proves it.
We all thought MFF & FTMO had to be doing something else for income, but the MFF income revelations have shown that very likely 100% with FTMO until their recent scrambling moves (buying an actual real prop firm) and 99% with MFF was from customer fees.
  • #27,632
  • Dec 31, 2023 2:29pm Dec 31, 2023 2:29pm
Quoting doyathink
{quote} who are the non-ponzis? ftmo, 5%ers... and?
Topstep started the space. They payout and they place qualified traders into live accounts. There's only one rule during the combine that can lead to failure: hitting the max drawdown.
And it's only futures trading, so none of the Spot FX bs..
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #27,633
  • Dec 31, 2023 2:56pm Dec 31, 2023 2:56pm
Quoting Zuke
I think the basic challenge for these firms is that their product was basically to pretend that they were bona fide prop firms. They pretended to be on the side of the trader ("when you win, we win" BS) and give the false impression that they were copying all/vast majority of trades and placing them into the real market. They pretended they weren't counter parties to trades placed by the trader and also pretended to payout from "market winnings" as opposed to paying from the fees of losing traders. I genuinely think that if these firms positioned...
I never thought for a second that any prop firms were A booking all of their traders.

It would be like going to a casino and plopping $500 down on red or black at roulette. If you guess correctly then the casino gives you 10K of their own money to go and play as you see fit.
Pride always comes before destruction.... -Proverbs 16:18
  • #27,634
  • Dec 31, 2023 4:05pm Dec 31, 2023 4:05pm
People talk about FTMO being the best, yet you look at the negative Trustpilot comments, and it paints a different picture. At the end of the day, there are simply no “Saintly Props” out there. I discovered this lady from Argentina, who is very profitable, buys challenges all over. She has 13K followers on her YouTube channel. She tests Props and shows results and reviews, blows accounts, buys new challenges, gets paid very often, and she only day trades GBPUSD. She sounds very credible, and she had an interview with a prop trader from Mexico, both are obviously pros. I can see that. The Mexican trader (among other things in the long interview), told his 2-year long story with FTMO (he also seems to have multiple prop firm accounts). He mentioned FTMO paid him substantial amounts, but once the sums grew, they started creating all sorts of problems.
Gladys, the lady from Argentina, (and this is the interesting part), got a 10K payment denied “illegally” by another prop firm. She complained and went through the typical saga of exchanging e-mails with the firm to prove her case. She made the case public on her YouTube channel, and her followers stormed the prop firm on different social media platforms, until they paid her everything.
My point here is that if we manage to create a strong forum, where people can support each other and props can be held accountable, this might put a brake on some of their practices.
Happy New Year.
  • #27,635
  • Dec 31, 2023 4:30pm Dec 31, 2023 4:30pm
Quoting cuchuflito
People talk about FTMO being the best, yet you look at the negative Trustpilot comments, and it paints a different picture. At the end of the day, there are simply no “Saintly Props” out there. I discovered this lady from Argentina, who is very profitable, buys challenges all over. She has 13K followers on her YouTube channel. She tests Props and shows results and reviews, blows accounts, buys new challenges, gets paid very often, and she only day trades GBPUSD. She sounds very credible, and she had an interview with a prop trader from Mexico, both...
Their reviews on TP are the best in the industry.
Pride always comes before destruction.... -Proverbs 16:18
  • #27,636
  • Dec 31, 2023 5:30pm Dec 31, 2023 5:30pm
Quoting Expo33
{quote} Their reviews on TP are the best in the industry.
Do u work for them? Have you seen the negative reviews? The positive ones, well....all of them have those....
  • #27,637
  • Dec 31, 2023 5:37pm Dec 31, 2023 5:37pm
Quoting cuchuflito
{quote} Do u work for them? Have you seen the negative reviews? The positive ones, well....all of them have those....
Yeah I saw the miniscule number of negative reviews from failed traders
Pride always comes before destruction.... -Proverbs 16:18
  • #27,638
  • Dec 31, 2023 7:11pm Dec 31, 2023 7:11pm
Quoting cuchuflito
{quote} Do u work for them? Have you seen the negative reviews? The positive ones, well....all of them have those....
i totally agree with @expo33 answer. And its not just ftmo its same for any business in the world i.e there will always be grievances who blame it all on the company. So better focus on 99% positive rather than 1% negative.
Extreme gut feeling trader
  • #27,639
  • Dec 31, 2023 7:48pm Dec 31, 2023 7:48pm
Quoting cuchuflito
I discovered this lady from Argentina, who is very profitable, buys challenges all over. She has 13K followers on her YouTube channel..
I must have missed this part of your post.

My apologies, FTMO is the worst prop in the industry. After all, a lady in Argentina has 13K followers
Pride always comes before destruction.... -Proverbs 16:18
  • #27,640
  • Dec 31, 2023 7:48pm Dec 31, 2023 7:48pm
Quoting montygoldy
{quote} i totally agree with @expo33 answer. And its not just ftmo its same for any business in the world i.e there will always be grievances who blame it all on the company. So better focus on 99% positive rather than 1% negative.
is it not ftmo and other props, who say in their conditions that you cant speak bad about them or you get all your accounts lost until you stop it? so most negative reviews will never be done because of this condition, so you can multiplicate the bad reviews by many many times to get real numbers?
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