Prop Firm Hub | Page 1391 | Forex Factory

Options

Go to
Permalinks
Print Thread

Featured US Prop Firms

Similar Threads

Anyone trading with a Prop firm 31 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
Exit Attachments

Prop Firm Hub

  • #27,801
  • Jan 5, 2024 9:35am Jan 5, 2024 9:35am
https://blog.e8funding.com/blog/nathan-interview

I have not read this BS but something that caught my attention was the 100 lot size.
Funny that companies say they don't want gamblers and them praise results of people trading 100 lots (I don't know the size but even if this is the 250K one it's 10M over a DD of 25K).
  • #27,802
  • Edited 11:14am Jan 5, 2024 10:46am | Edited 11:14am
Quoting Capablanca
https://blog.e8funding.com/blog/nathan-interview I have not read this BS but something that caught my attention was the 100 lot size. Funny that companies say they don't want gamblers and them praise results of people trading 100 lots (I don't know the size but even if this is the 250K one it's 10M over a DD of 25K).
WOW... I use a variable SL from 5-25 pips in FX majors. With my risk on a live account @ tightest sl of 5 pips (system's historical max DD/loss streak = 50% of total DD), I would need a 600K account for that kind of size.

The props need the high risk gamblers with their lucky 5+ figure payouts for social media FOMO marketing... but if the gamblers don't blow up and continue to win, the payout shenanigans begin @ the smaller props like e8.
  • #27,803
  • Jan 5, 2024 11:01am Jan 5, 2024 11:01am
For any degenerates out there: (not me of course)

Finally going live, FXIFY is now revolutionizing the industry 3 phases and one promo code at a time.

15K account with promo code SOCIAL15K costs $47.50
Pride always comes before destruction.... -Proverbs 16:18
  • #27,804
  • Jan 5, 2024 11:55am Jan 5, 2024 11:55am
Quoting Expo33
For any degenerates out there: (not me of course) Finally going live, FXIFY is now revolutionizing the industry 3 phases and one promo code at a time. 15K account with promo code SOCIAL15K costs $47.50
SocialistK for a socialist account.
  • #27,805
  • Jan 5, 2024 12:40pm Jan 5, 2024 12:40pm
Quoting Takisd
SocialistK for a socialist account.
-I don't know, 3-phase sounds like slavery to me.
  • #27,806
  • Jan 5, 2024 5:12pm Jan 5, 2024 5:12pm
Quoting Nsak3y
{quote}-I don't know, 3-phase sounds like slavery to me.
Slavery also starts with an S and probably means the same thing in the end.
  • #27,807
  • Jan 5, 2024 7:47pm Jan 5, 2024 7:47pm
Does anyone know if you can open and close a trade on Tradovate with any cryptos over the weekend?

I passed a 100K account with APEX with basically one trade this week and am now just opening and closing a trade per day to satisfy the 7 days.

The faster I get the funded account the faster I can blow it up.
Pride always comes before destruction.... -Proverbs 16:18
  • #27,808
  • Jan 5, 2024 9:20pm Jan 5, 2024 9:20pm
Quoting Capablanca
https://blog.e8funding.com/blog/nathan-interview I have not read this BS but something that caught my attention was the 100 lot size. Funny that companies say they don't want gamblers and them praise results of people trading 100 lots (I don't know the size but even if this is the 250K one it's 10M over a DD of 25K).
I got this email as well
How to hell this guy's keep spamming? I'm already unsubscribed
  • #27,809
  • Jan 5, 2024 11:21pm Jan 5, 2024 11:21pm
Quoting Nsak3y
{quote}-I don't know, 3-phase sounds like slavery to me.
Is that the new norm now with these challenge marketers?

I see bootcamp it now 3 as well. When did they change?
I'll draw the line at 2 phase! No more.
  • #27,810
  • Jan 6, 2024 1:56am Jan 6, 2024 1:56am
Quoting FocusWinReal
I see bootcamp it now 3 as well. When did they change?
-I could be mistaken, but I believe that bootcamp was always 3-phase.

I was not the only one that thought that the bootcamp program would fail hard because the offering was kind of garbage, comparatively speaking. Maybe that is subjective. It seems to be a popular choice among some traders. I suspect that it is because of the price-point.

One might say that it lowers the barrier-to-entry for low-income traders, providing them with opportunities that they would not otherwise have. Others might say that it preys on weak-minded and poverty-stricken traders, providing the firm with a different kind of opportunity.

For the 3 challenge phases, draw-down allowance is 5%. Profit target is 6%. That equates to flipping an account almost 4 times (3 term x 120% growth). Total cost for 100k account is $300. If you were to take that $300 and trade a personal account, and you flipped it in the same way as you would the challenges, you would end up with $3,194.

If, instead, you decided to take the challenges, assuming that you passed each phase, you would start out with a 'daily pause' at 3% draw-down, which is 3K. Overall draw-down is 4K; not much better than trading your own money, while also following somebody else's rules and having to wait for withdrawals etc..

I'm not sure about the other specifics, as there also seems to be a profit target once funded. Either way, it does not look good to me.
  • #27,811
  • Jan 6, 2024 2:25am Jan 6, 2024 2:25am
@ anybody familiar with Funding Pips... what are their EA trade copier rules? Are funded account to evaluation & external prop/broker to evaluation/funded account allowed?
  • #27,812
  • Jan 6, 2024 3:52am Jan 6, 2024 3:52am
What a world!
I have 4 accounts on a prop and I know, after a few payments they will kick me out with some excuse. So far I could identify only one prop that has no negative payment comments in Trustpilot: "The trading pit", German owners, based in Lichtenstein and full German Bafin regulated. Not that I believe they pay millions to winners. In my book, 2 payment failure comments in Trust Pilot, and the company is scratched. Then I have a broker account with ICM, I withdrew only once but in T Pilot there are plenty of people claiming not getting their money paid. Germany has this unconstitutional law, where you are only allowed to deduce 20K a year, the rest is "all taxable profit". The law is being contested in court and will probably be scrapped, but it could take years. And this is "The German Government" doing crooked stuff!!! What a world!

Solution: I will open a GMBH to trade with to avoid the restriction legally, with a huge amount of work and expenses. But I still need a broker I can trust. There is a "German" study of "serious brokers" with a list, almost all of them have negative payment records in T Pilot.
It took me decades (literally I am an old dog), to find a solid edge in trading, only to find that even after earning your hard work money, these thugs will mostly refuse to give it to you, and if they, do the Finanzamt will even take your underwear and your house if you are not extremely careful.
What a world!
  • #27,813
  • Jan 6, 2024 4:15am Jan 6, 2024 4:15am
Quoting cuchuflito
What a world! I have 4 accounts on a prop and I know, after a few payments they will kick me out with some excuse. So far I could identify only one prop that has no negative payment comments in Trustpilot: "The trading pit", German owners, based in Lichtenstein and full German Bafin regulated. Not that I believe they pay millions to winners. In my book, 2 payment failure comments in Trust Pilot, and the company is scratched. Then I have a broker account with ICM, I withdrew only once but in T Pilot there are plenty of people claiming...
I am 67 years old and was a futures prop trader in my young days , if you want to be 100% sure you are not trading with a bucketshop then these are your options

interactivebrokers , darwinex, lmax, tier1fx
  • #27,814
  • Jan 6, 2024 4:39am Jan 6, 2024 4:39am
Quoting Stoneyrocks
{quote} I am 67 years old and was a futures prop trader in my young days , if you want to be 100% sure you are not trading with a bucketshop then these are your options interactive brokers , darwinex, lmax, tier1fx
Thanks, Stoney, (I am 68), Interactive Brokers were first on my list, but have you seen the number of negative comments in T Pilot? I was looking at IBrokers Ireland, cause they are Bafin conform, and that would make it easier to open an account through my GMBH. Have u been with them for a long time?

https://www.trustpilot.com/review/in...rs.com?stars=1
  • #27,815
  • Jan 6, 2024 4:52am Jan 6, 2024 4:52am
Quoting cuchuflito
{quote} Thanks, Stoney, (I am 68), Interactive Brokers were first on my list, but have you seen the number of negative comments in T Pilot? I was looking at IBrokers Ireland, cause they are Bafin conform, and that would make it easier to open an account through my GMBH. Have u been with them for a long time? https://www.trustpilot.com/review/in...rs.com?stars=1
I think you will find bad reviews in TP of, essentially, any broker.
With that assumption, I thin you need to select the where the 1 and 2 stars are less concerning. Things that you can assume the problem was more misunderstanding from user like spreads wide during news or slippage horrible in rollouts. This is not something concerning, it's market conditions.
Something concerning would be too many denials of withdraws.

Surprised to see ICM with claims. I thought they were one of the best around.
For retail I doubt you find better than IB.
  • #27,816
  • Jan 6, 2024 5:10am Jan 6, 2024 5:10am
Quoting cuchuflito
even after earning your hard work money, these thugs will mostly refuse to give it to you

That’s why you need to trade futures and not CFD’s, so your broker actually IS a broker, not a counterparty, and is on your side. Doing so is effectively all advantages and no disadvantages. It’s a simple and helpful way of leaving all these problems behind you. Ask yourself why nobody who switches from CFDs to futures ever switches back!
  • #27,817
  • Edited 5:22am Jan 6, 2024 5:11am | Edited 5:22am
Quoting cuchuflito
{quote} Thanks, Stoney, (I am 68), Interactive Brokers were first on my list, but have you seen the number of negative comments in T Pilot? I was looking at IBrokers Ireland, cause they are Bafin conform, and that would make it easier to open an account through my GMBH. Have u been with them for a long time? https://www.trustpilot.com/review/in...rs.com?stars=1
I have been with IB for more than 35 years , customer service can s.ck , yes , but execution wise 0 problems , you will always have people complaining and TP is not really a good reference

never heard of someone who got his profits denied with IB
  • #27,818
  • Jan 6, 2024 5:19am Jan 6, 2024 5:19am
Quoting Stoneyrocks
{quote} I have been with IB for more than 25 years , customer service can s.ck , yes , but execution wise 0 problems , you will always have people complaining and TP is not really a good reference never heard of someone who got his profits denied with IB
Neither did I. Not 25 years but close to 20.
The worst I heard about IB is asking about pof (proof of funds) of someone customer for a lot of years. The guy said that he didn't have any longer the pof of when he funded the account(because that was like 20 years ago) and the remaining pof was the growth of the IB account itself. Nevertheless he had a lot of trouble to make them accept that.
I think pof is really the only threat of IB.
  • #27,819
  • Jan 6, 2024 5:32am Jan 6, 2024 5:32am
Thanks a million, Capa and Stoney, that was very useful!
  • #27,820
  • Edited 8:29am Jan 6, 2024 7:11am | Edited 8:29am
Quoting cuchuflito
Thanks a million, Capa and Stoney, that was very useful!
You are welcome, old man ..

tier1fx is also registered under BaFin
101 traders viewing now