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  • #28,841
  • Jan 31, 2024 8:50am Jan 31, 2024 8:50am
Quoting pipmaster77
{quote} Must have missed this wonderful gem.....where is this coming from?
I spoke to them myself - they are. They have also notified the brokers with props that soon they will have a US IP ban. Brokers are adding dxtrade to cover.

Dont know reasoning, just know its coming.
  • #28,842
  • Jan 31, 2024 9:00am Jan 31, 2024 9:00am
Quoting pipmaster77
{quote} So with that logic , ANY broker using metaquotes who scams ANY client from ANY country....metaquotes should ban THAT country.......How would this be isolated to US? That is the only country brokers scam customers? Appears more like let's find any reason to accomplish what they are trying to accomplish.
From what I gather it has to do with this case mentioned here:
https://x.com/dezzifinance/status/17...220073940?s=20

Apparently its the same case that caused MetaQuotes to pull the mobile app for a few months.
Trade with confidence, trade without fear.
  • #28,843
  • Jan 31, 2024 9:00am Jan 31, 2024 9:00am
Hey everyone!
I'm pretty new to Forex/CFD prop firms and I'd like to ask some help from you guys. Can you please recommend some prop firms who offer exotic commodities to trade like sugar, wheat, cotton, cocoa, coffee, orange juice, copper? I've found crypto fund traders and the trading pit, but would welcome other recommendations if you have one.
  • #28,844
  • Jan 31, 2024 9:04am Jan 31, 2024 9:04am
Just so tired of it, really...
  • #28,845
  • Jan 31, 2024 9:18am Jan 31, 2024 9:18am
Quoting oliverupnext
Hey everyone! I'm pretty new to Forex/CFD prop firms and I'd like to ask some help from you guys. Can you please recommend some prop firms who offer exotic commodities to trade like sugar, wheat, cotton, cocoa, coffee, orange juice, copper? I've found crypto fund traders and the trading pit, but would welcome other recommendations if you have one.
Futures props like Apex funding or Top Step Trader have that. It's not CFDs, though, it's futures. And they have trailing stop.
  • #28,846
  • Jan 31, 2024 9:22am Jan 31, 2024 9:22am
Quoting Cryptosurf
{quote} From what I gather it has to do with this case mentioned here: https://x.com/dezzifinance/status/17...220073940?s=20 Apparently its the same case that caused MetaQuotes to pull the mobile app for a few months.
It has become beyond absurd at this point.. Now, if Oanda, Forex.com and amp can continue using metaquotes.....how will they explain the reasoning?
  • #28,847
  • Jan 31, 2024 9:25am Jan 31, 2024 9:25am
Quoting Nsak3y
Just so tired of it, really...
Yes, it's exhausting. You develop a skill to earn money in ONE OF THE HARDEST industries possible. Takes years in many cases, and I must wake up every morning wondering what rug (income) will be pulled form my family and myself. Seriously, anyone who cannot clearly see this is all about power and OneWorld control is completely blind. Something needs to be done while it still can.....the longer we sit and do nothing.......
  • #28,848
  • Jan 31, 2024 9:26am Jan 31, 2024 9:26am
Quoting Capablanca
{quote} Futures props like Apex funding or Top Step Trader have that. It's not CFDs, though, it's futures. And they have trailing stop.
Yeah, I'm daytrading actively with Apex, but my problem is that they don't allow swing trading, that's why I'm looking to try a CFD prop because swinging is pretty common there and I'd mostly be swing trading these commodities. Also unfortunately most of the futures prop firms doesn't have the ICE products like sugar, cocoa, coffee, orange juice.
  • #28,849
  • Jan 31, 2024 9:36am Jan 31, 2024 9:36am
Quoting pipmaster77
{quote} Yes, it's exhausting. You develop a skill to earn money in ONE OF THE HARDEST industries possible. Takes years in many cases, and I must wake up every morning wondering what rug (income) will be pulled form my family and myself. Seriously, anyone who cannot clearly see this is all about power and OneWorld control is completely blind. Something needs to be done while it still can.....the longer we sit and do nothing.......
I think the potential reason for metaquotes mentioned on twitter is of their own doing. They needed to be more vigilant on who they gave servers to as well as paying more attention to what they are doing. Daniel savage ran a scam brokerage for how long? Rajabanks dodged US regulations for how long? How many MAMM/PAMM scams are there using meta servers. Its their own laziness that is coming back to bite them. Originally they pass on regulatory liability to others and sit in their ivory tower saying ha ha but now a court has basically said they have liability for facilitating it.

If ctrader wasn't so shit and dxtrade wasnt so shit and tradingview was smarter it would be great because there would be options. But we live in a monopoly for retail trading.

The one thing people do not realize is the actual cost to support the tech of metatrader. The API's etc. And metaquotes servers were/are cheap. CTrader is extremely expensive for the crap you get from them in comparison but priced more reasonably to the cost to maintain the business. However, retail traders are also spoiled because higher cost = higher cost. If Ctrader charges in accordance to their risk/cost then retail traders will have to pay and they would never accept that which means more dodgy behavior is going to happen to make up the difference.
  • #28,850
  • Jan 31, 2024 9:41am Jan 31, 2024 9:41am
Quoting Takisd
{quote} I think the potential reason for metaquotes mentioned on twitter is of their own doing. They needed to be more vigilant on who they gave servers to as well as paying more attention to what they are doing. Daniel savage ran a scam brokerage for how long? Rajabanks dodged US regulations for how long? How many MAMM/PAMM scams are there using meta servers. Its their own laziness that is coming back to bite them. Originally they pass on regulatory liability to others and sit in their ivory tower saying ha ha but now a court has basically said...
Wouldn't matter in the US, we were cut off from cTrader 10 years ago. FTMO offered it for awhile but then they pulled it from US as well.
  • #28,851
  • Jan 31, 2024 9:52am Jan 31, 2024 9:52am
Quoting pipmaster77
{quote} It has become beyond absurd at this point.. Now, if Oanda, Forex.com and amp can continue using metaquotes.....how will they explain the reasoning?
I’m thinking it comes down to what’s being traded on whatever platform. Futures are fine since it’s pulling from a regulated feed. CFD’s? No bueno since they are banned.
Trade with confidence, trade without fear.
  • #28,852
  • Edited 1:50pm Jan 31, 2024 9:55am | Edited 1:50pm
And to top it off... the Canadian regulator & court recently put MFF back in jail.... Assets frozen on Can side, new receiver appointed and shutdown order issued... SMH
  • #28,853
  • Jan 31, 2024 9:59am Jan 31, 2024 9:59am
Quoting Cryptosurf
{quote} I’m thinking it comes down to what’s being traded on whatever platform. Futures are fine since it’s pulling from a regulated feed. CFD’s? No bueno since they are banned.
I think the business model is misdirection by the CFTC... like you said, it's CFD's being traded by US citizens and who is providing the feed (non regulated brokers). None of the futures props with the same virtual/simulated business model seem to have any concern about the CFTC.
  • #28,854
  • Jan 31, 2024 10:02am Jan 31, 2024 10:02am
Quoting CableJ
And to top it off the Canadian regulator & court recently put MFF back in jail.... Assets frozen on Can side, new receiver appointed and shutdown order issued... SMH
The previous one had expired so they had to renew it. Its nothing to think of, the fight is with the CFTC whatever the result there will translate.
  • #28,855
  • Jan 31, 2024 10:07am Jan 31, 2024 10:07am
There been so many risk factors which might affect props in future that i am guessing what is the safest way for non us (UK) trader?? Choosing not accepting us traders prop which not using common brokers (Think markets, blueberry etc) ??. Ftmo?? Any other props?? What other EU, UK traders think??. Feel sorry for Us traders but I am sure whatever happen in US will arrive sooner or later or affect UK eu traders as well.
  • #28,856
  • Jan 31, 2024 10:09am Jan 31, 2024 10:09am
Quoting Takisd
{quote} The previous one had expired so they had to renew it. Its nothing to think of, the fight is with the CFTC whatever the result there will translate.
You think the Can regulator will fall in line & remove their newly appointed receiver if MFF settles/wins in the US?
  • #28,857
  • Jan 31, 2024 10:21am Jan 31, 2024 10:21am
Quoting CableJ
{quote} You think Can regulator will fall in line & remove their newly appointed receiver if MFF settles/wins in the US?
I dont think there is any "Win" opportunity. If it goes to trial and mff win they still lose cos damage is done and the marketplace is now super skeptical of everything. Only regulatory oversight will resolve that and the number of false complaints that will come in will be massive. Trader slips during news, complaint filed. Trader doesnt accept their broke the rules, complaint filed. A regulation would be great in some ways but I can't see it being a positive experience given that the shoot now and ask questions later approach has already occurred.

It all depends what the settlement is and how it looks. For example, if there is a settlement with a registration or some regulatory oversight, it is likely that canada will follow. If its like payment and ban. Then in canada it will also be payment and ban.

If you read some of the limited text from Canada its just the repeat message of the CFTC says and banking on the low bar prima facie ruling as the "point".

That being said, no one knows the outcome or what it will look like. No one other than the parties involved know the conversations that are off record. No one knows if there is other purpose for this case or more urgency on a case coming behind it. What will be will be and we have to deal with it. I haven't had a prop account in quite some time now, i think the only thing that would have me buy a new one is either a regulated entity I am satisfied with or something completely new. But I do not expect innovation from 20 year old kids currently in the market place. Changing a % or adding a phase isn't innovation.
  • #28,858
  • Jan 31, 2024 11:22am Jan 31, 2024 11:22am
Quoting Cryptosurf
{quote} I’m thinking it comes down to what’s being traded on whatever platform. Futures are fine since it’s pulling from a regulated feed. CFD’s? No bueno since they are banned.
True. So it's really the indices and metals. Which means the regulated brokers in the US using MT4/MT5 will be allowed to continue, as they offer forex only and no "illegal" instruments.....and of course all of the other regulated brokers in the world, which the CFTC "protects" me from, will be allowed to continue as well.......thoughts?
  • #28,859
  • Jan 31, 2024 11:33am Jan 31, 2024 11:33am
I agree (for once) with every word of Takisd’s post just above.

Yet again, surprise surprise, all of this shows why you’re safer and better off with companies like Topstep, Tradeday, Earn2Trade and the rest, than these fraud-ridden CFD outfits most of which aren’t really "funding" any accounts at all.

That approach is obviously not going to be viable, long-term (apart from possibly in Nigeria or the Seychelles or the Marshall Islands or other countries where nobody with a brain cell would try to trade anyway).
  • #28,860
  • Jan 31, 2024 11:44am Jan 31, 2024 11:44am
Seems that Finotive saw their sales to dry up with those stupid rules that they had and new competition coming every week.
Some time ago they eliminated the risk rule of 50% of daily DD in a single instrument and now they eliminated the SL rule for challenges.
It's funny to remember when they had those, defending that it was super important to get good traders.
Apparently now everybody knows already how to manage risk and those rules are not necessary any more.

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