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  • #30,261
  • Feb 13, 2024 8:18am Feb 13, 2024 8:18am
This guy mentions a few interesting points about this US clients saga.

He is a CEO of his own prop firm which says he still accepts US clients so some of it is a little bias, but still good to watch.

Inserted Video
Truth is like poetry. And most people f*cking hate poetry.
  • #30,262
  • Feb 13, 2024 8:19am Feb 13, 2024 8:19am
Quoting Matteorossi
{image} https://trueforexfunds.com
Good News !
Drawdown is more important than Account Size !
  • #30,263
  • Feb 13, 2024 8:21am Feb 13, 2024 8:21am
Quoting mrdfx
This guy mentions a few interesting points about this US clients saga. He is a CEO of his own prop firm which says he still accepts US clients so some of it is a little bias, but still good to watch. https://youtu.be/OPdfdLKW-TY?si=JHQzyC9obCsvdaEt
He also has a drug and prostitute problem.
  • #30,264
  • Feb 13, 2024 8:30am Feb 13, 2024 8:30am
Quoting mrdfx
This guy mentions a few interesting points about this US clients saga. He is a CEO of his own prop firm which says he still accepts US clients so some of it is a little bias, but still good to watch. https://youtu.be/OPdfdLKW-TY?si=JHQzyC9obCsvdaEt
I started watching his videos around Thanksgiving and everything he said about the coming debacle has been pretty much dead on.
  • #30,265
  • Feb 13, 2024 8:36am Feb 13, 2024 8:36am
Quoting woody70
{quote} I understand what you are saying however, I don't think you can find any broker in the forex business that you could not find some dissatisfied customer. I will not be the first to sign up when they do return but, after a couple of months and things are back to the way they were with them paying out; I might. I think everyone in this game is shady; period. You have some brokers that have not even mentioned this publicly and still have Americans on mt5 and mt4 and I'm with some of them. So if that's the case and you are an American you can't...
Well, i agree with you too, if they pay and keep paying, then who am i to say another, after all, all we want is to be paid.
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #30,266
  • Feb 13, 2024 8:52am Feb 13, 2024 8:52am
Funded Engineer delays relaunch, switches to broker Blueberry Markets

FNG Exclusive… FNG has learned that Dubai based prop trading firm Funded Engineer is delaying the relaunch of its services, after its software licenses were terminated by its tech provider FPFX Technologies last week.

FNG has also learned that Funded Engineer – in addition to reportedly switching to its own in-house tech and platform – is switching the broker that it uses for all client trades, from Purple Trading Seychelles to Australia based broker Blueberry Markets.

We had reported earlier this week that Funded Engineer was aiming for a mid week (i.e. Tuesday / Wednesday) restart, amid a switch to its own in house technology which was supposedly months away from a planned implementation. We also reported that beyond its issues with FPFX (which alleges that Funded Engineer ran a scheme to defraud it), Funded Engineer was being dropped by its broker, Purple Trading Seychelles (i.e. the offshore arm of Cyprus based, CySEC licensed broker Purple Trading), and was in need of a new brokerage arrangement for its clients.

In an updated tweet on X (formerly Twitter), Funded Engineer is reporting that it has experienced “slight delays” in migrating accounts as part of the switch to Blueberry Markets, and that service will resume “very soon”. Funded Engineer also reported that it has a backlog of pending payouts (from clients which have already requested a payout) from the 7th of February until today, and that a “large chunk” of payouts will be going out today, along with refunds.
The tweet issued earlier today by Funded Engineer reads as follows:

Funded Engineer @fundedengineer Feb 13 3:40pm Dubai time. Hello everyone. With the ongoing issues regarding Purple not issuing new accounts to the prop space, we have experienced some slight delays in migration. Moving forward, we will be issuing all new accounts on Blueberry markets. Refunds will be provided to everyone who requests one and is eligible. The requirements for refunds are as follows: Your account must have no greater than a 4% drawdown. If your account has less than a 4% drawdown and you wish for a refund, it will be issued. Please note that by doing so, you will lose access to the account. For those who prefer to wait, their challenge account in DD will be reset to the original starting balance at the time of purchase upon launch. We have a backlog of pending payouts from the 7th until today, which will start being processed today. Additionally, a large chunk of payouts will be going out today, along with refunds. Thank you, everyone, for your patience. Service will resume very soon.
  • #30,267
  • Feb 13, 2024 9:03am Feb 13, 2024 9:03am
Funded Next also dropping the cursed people

Dear Traders,

We are writing to share some important updates and the steps our company is taking in light of recent developments. After careful consideration of service, compliance and trading platform policies, we are pausing new sign-ups from the United States on FundedNext until further notice.

We are exploring options to assess how we can adapt to the current situation and continue to serve you in the near future. We will get back to the community regarding this in the coming month possibly. However, at this time, we are pausing all new sign ups from the United States on FundedNext.

At FundedNext, we prioritize being proactive over reactive. Initially, we partnered with third-party brokerages but quickly moved to owning our servers to avoid grey labeling issues and comply with trading platform policies. We also made sure to obtain the correct 'trading' licenses, knowing how crucial platform 4 and platform 5 are to our traders and committing to their protection.

Our focus has always been on long-term success, leading us to develop our own in-house technology from the very beginning, ensure ownership trading platform licenses and build a strong, self-sufficient team of 300 brilliant team members. We're always prepared for growth, with every step taken to ensure our sustainability and scalability.

We are confident in our decision. Our dedication to the best interests of our clients and the industry remains steadfast. Rest assured, we are setting the stage to emerge stronger and more equipped than ever to serve you.

We wish to emphasize that all existing clients from the U.S. can continue to trade normally on our platform. Please note, however, that no account reset or new sign-up will be possible during this period.

Should you have any questions or require further information, our support team is here to assist you.

Thank you for your understanding and continued trust in our company.
  • #30,268
  • Edited 9:19am Feb 13, 2024 9:04am | Edited 9:19am
Smashed the 2 day free trial on FTMO yesterday and today 8000 usd profit with 2 trades in 2 days same trades as on my live account, result is not confirmed until tomorrow, will post a photo then
Follow The Markets Structure - Patience and Discipline
  • #30,269
  • Feb 13, 2024 9:16am Feb 13, 2024 9:16am
Quoting Takisd
{quote} He also has a drug and prostitute problem.
Oh damn, please do tell more...

I will say I'm not familiar with all the prop internals, I'm only looking for viable alternatives, and his firm looked like a possible option.
Truth is like poetry. And most people f*cking hate poetry.
  • #30,270
  • Feb 13, 2024 9:24am Feb 13, 2024 9:24am
Quoting pipfarm
Smashed the 2 day free trial on FTMO yesterday and today 8000 usd profit with 2 trades in 2 days same trades as on my live account, result is not confirmed until tomorrow, will post a photo then
will have to wait for the close of CET to confirm but here is the preliminary photo

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2024-02-13 152055.png Size: 54 KB
Follow The Markets Structure - Patience and Discipline
  • #30,271
  • Feb 13, 2024 9:46am Feb 13, 2024 9:46am
Quoting Takisd
{quote} He also has a drug and prostitute problem.
Oh So, me and him do have things in common
Drawdown is more important than Account Size !
  • #30,272
  • Feb 13, 2024 9:47am Feb 13, 2024 9:47am
Prop industry has so much shit going on rite now... i think i will go back to trading futures with Apex for now
Drawdown is more important than Account Size !
  • #30,273
  • Feb 13, 2024 10:04am Feb 13, 2024 10:04am
Quoting procrude
Prop industry has so much shit going on rite now... i think i will go back to trading futures with Apex for now
You never know they will start attacking APEX as well. it is just matter of time.
  • #30,274
  • Feb 13, 2024 10:16am Feb 13, 2024 10:16am
Quoting Capablanca
Funded Next also dropping the cursed people Dear Traders, We are writing to share some important updates and the steps our company is taking in light of recent developments. After careful consideration of service, compliance and trading platform policies, we are pausing new sign-ups from the United States on FundedNext until further notice. We are exploring options to assess how we can adapt to the current situation and continue to serve you in the near future. We will get back to the community regarding this in the coming month possibly. However,...
It is Déjà vu of binary options years back. I remember it all start like this. First America banned them than canada. Afterwards Europe.
Not a good sign for people even outside US and Canada.
  • #30,275
  • Feb 13, 2024 10:30am Feb 13, 2024 10:30am
Quoting sampat
{quote} It is Déjà vu of binary options years back. I remember it all start like this. First America banned them than canada. Afterwards Europe. Not a good sign for people even outside US and Canada.
Im guessing the only option to trade with prop firms apart from futures would be crypto prop firms . But then again that would probably be even worse climate than current scam prop firms. Again as I mentioned before I dont hope it will come true but its heading in that direction. Until of course all crypto will be regulated as well and controlled. But that would take another few years once all current forex prop firms are gone if so. Just a guess.
  • #30,276
  • Feb 13, 2024 10:33am Feb 13, 2024 10:33am
Quoting sampat
{quote} It is Déjà vu of binary options years back. I remember it all start like this. First America banned them than canada. Afterwards Europe. Not a good sign for people even outside US and Canada.
In europe i hear they are considering a regulation for it. Canada will go for sure, the rest we will see. Its hard to say to people "You cant have something that is what you see is what you get". It pushes the boundaries of political control.
  • #30,277
  • Feb 13, 2024 10:36am Feb 13, 2024 10:36am
Quoting martinez1
a powerful entity is saying you should not do biz with their citizen and you find a very illegal way just to take those clients, use VPN and all that nonsense, that alone makes me believe you have a criminal mindset.
-While I agree that no broker or prop firm should be fully-trusted, I can also understand the reluctance to bend a knee to over-reaching regulatory bodies that behave like the mafia and bully businesses for profit.

I believe that people should have the right to choose where they invest their own, hard-earned money, and I do not believe that US regulators truly have our best interests at heart. They are regulating by enforcement, pushing their pay-to-play game, with no real intention on helping certain groups into compliance at all.

Why will the government not allow for an opt-out clause? Let me opt-out of their so-called protections, and allow me to trade wherever I want. I think we know why. Who are the real criminals here?
  • #30,278
  • Feb 13, 2024 10:36am Feb 13, 2024 10:36am
Quoting labu
{quote} Im guessing the only option to trade with prop firms apart from futures would be crypto prop firms . But then again that would probably be even worse climate than current scam prop firms. Again as I mentioned before I dont hope it wont come true but heading in that direction. Until of course all crypto will be regulated as well and controlled. But that would take another few years once all current forex prop firms are gone if so. Just a guess.
They will dry each and every medium, Like they forced MT4, Now they will screw Crypto brokers, credit card companies. Rest will be taken care automagically.
  • #30,279
  • Feb 13, 2024 10:39am Feb 13, 2024 10:39am
E8 has been very unlucky for me.
250k lost earlier phase1
100k lost today phase1

very consistent with "drawdown"
bought account "went direct into drawdown"
then stick to plan "come out of drawdown"
then forget the plan and try to hurry up "went again into drawdown"
then stick to plan "come out of drawdown"
seeing others passing challenges, taking payouts, then forget the plan "failed the challenge"
Attached Image (click to enlarge)
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  • #30,280
  • Feb 13, 2024 10:40am Feb 13, 2024 10:40am
Been doing some digging lately in particular around FPFX.

Its no secret that the golden boy of FPFX is Matt Leech.

Funnily enough, Matt Leech has been caught faking payouts multiple times. Issued the payout certificate in social media but banned the trader at the same time. Nice.
If you dig hard enough, you will find discord messages where Matt also tries to persuade an EA seller to change the set file for all the users to make them lose in exchange for a rev split.

Still working with FPFX though.
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