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  • #30,661
  • Feb 15, 2024 6:12am Feb 15, 2024 6:12am
Quoting PropDude1234
{quote}Is he just another 'throw lots of darts and eventually one will hit?' like all the rest of the 'experts' / 'insiders'? Like a trader who makes loads of trade calls and talks about the one which went right.
A pity that his account is private, otherwise you would not ask that.
  • #30,662
  • Feb 15, 2024 7:37am Feb 15, 2024 7:37am
Quoting PropDude1234
{quote}Is he just another 'throw lots of darts and eventually one will hit?' like all the rest of the 'experts' / 'insiders'? Like a trader who makes loads of trade calls and talks about the one which went right.
He has real sources. The end result I think is the same that i am hearing, just not the means of getting there. I don't think MFF Will be back as is. The reason is, US and Canada will not allow it, even if some magical outcome occurred.
  • #30,663
  • Feb 15, 2024 7:47am Feb 15, 2024 7:47am
Quoting Takisd
{quote} He has real sources. The end result I think is the same that i am hearing, just not the means of getting there. I don't think MFF Will be back as is. The reason is, US and Canada will not allow it, even if some magical outcome occurred.
If he gets to keep a small fortune and not continue (non-US revenue?), I suspect he'll snatch their hand off.
  • #30,664
  • Feb 15, 2024 7:50am Feb 15, 2024 7:50am
Quoting PropDude1234
{quote}If he gets to keep a small fortune and not continue (non-US revenue?), I suspect he'll snatch their hand off.
I think you're assumption is incorrect. Its a case of being cornered and having very few options.
  • #30,665
  • Feb 15, 2024 8:19am Feb 15, 2024 8:19am
Bespoke also going under (took too long, they should have sunk long time ago)
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  • #30,666
  • Feb 15, 2024 8:45am Feb 15, 2024 8:45am
Quoting Capablanca
Bespoke also going under (took too long, they should have sunk long time ago) {image}
How you could subscribe to propsafe.io ? My email addresses I put in only make error message when I want to sign up on that service. Any way to subscribe you know?
  • #30,667
  • Feb 15, 2024 8:48am Feb 15, 2024 8:48am
Quoting Takisd
{quote} Give what we are seeing re: US, he is probably right. If I was in MFF's position I wouldn't want to come back anymore providing an amicable settlement could be achieved.
Realistically what would that settlement look like?

Fine payed + funds released + inhouse broker ok w/ RFED registration (20M capital requirement) + CFDs dropped in US + RFED & CFD requirements applied to all other FX props... the capital requirements alone would clear the entire field in US/Can other than MFF & FTMO.
  • #30,668
  • Feb 15, 2024 8:51am Feb 15, 2024 8:51am
If people are still buying bespoke,cashflow and deifunded accounts you do not get sympathy from me. Stop buying scam accounts.
  • #30,669
  • Feb 15, 2024 8:53am Feb 15, 2024 8:53am
Quoting CableJ
{quote} Realistically what would that settlement look like? Fine payed + funds released + inhouse broker ok w/ RFED registration (20M capital requirement) + CFDs dropped in US + RFED & CFD requirements applied to all other FX props... this would clear the entire field in US/Can.
I have no idea, I dont know how much chargebacks were issued etc. If it is 12 million as the court requested frozen + refunds, then my guess is there are more than 12 million in chargebacks so then there would be some discount. I am really not sure and because the prima facie ruling was so copy paste from both sides requests it doesnt really make sense in terms of guidance. It could be 0 it could 100 I have no idea. The only thing that has been made evidently clear from this case is that the CFTC wants nothing to do with the evaluation prop firms.
  • #30,670
  • Feb 15, 2024 9:00am Feb 15, 2024 9:00am
Quoting TrAndy1
{quote} How you could subscribe to propsafe.io ? My email addresses I put in only make error message when I want to sign up on that service. Any way to subscribe you know?
I don't know. That's a twitter print screen which is where I follow most of the stuff
  • #30,671
  • Feb 15, 2024 9:03am Feb 15, 2024 9:03am
Quoting Takisd
{quote} I have no idea, I dont know how much chargebacks were issued etc. If it is 12 million as the court requested frozen + refunds, then my guess is there are more than 12 million in chargebacks so then there would be some discount. I am really not sure and because the prima facie ruling was so copy paste from both sides requests it doesnt really make sense in terms of guidance. It could be 0 it could 100 I have no idea. The only thing that has been made evidently clear from this case is that the CFTC wants nothing to do with the evaluation prop...
I wont believe that until I see CFTC action with US based Futures props playing the exact same game.

I may be wrong but I thought the 12M = current live trader fees payed + payouts owed?
  • #30,672
  • Feb 15, 2024 9:22am Feb 15, 2024 9:22am
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  • #30,673
  • Feb 15, 2024 9:38am Feb 15, 2024 9:38am
Quoting CableJ
{quote} I wont believe that until I see CFTC action with US based Futures props playing the exact same game. I may be wrong but I thought the 12M = current live trader fees payed + payouts owed?
There is 0% chance that MFF will pay the payouts owed. Even if it was on a-book.
  • #30,674
  • Feb 15, 2024 9:44am Feb 15, 2024 9:44am
eightcap gone. Think next.
  • #30,675
  • Feb 15, 2024 9:48am Feb 15, 2024 9:48am
Quoting Takisd
eightcap gone. Think next.
what happen to 8cap now?? they also closed trading
  • #30,676
  • Feb 15, 2024 9:51am Feb 15, 2024 9:51am
Quoting genuine007
{quote} what happen to 8cap now?? they also closed trading
They closed all props today.

Edit: for clarity, they seem to be letting props migrate the accounts.
  • #30,677
  • Feb 15, 2024 9:56am Feb 15, 2024 9:56am
Quoting Takisd
I don't think MFF Will be back as is. The reason is, US and Canada will not allow it, even if some magical outcome occurred.
-Yeah, and even if they could, they would probably have to start over with an entirely new platform unless someone has been working on a solution behind the scenes.

For MFF, with their own servers and established systems etc., that would probably be a lot of work and testing, all without traders to stress-test. Any return to this space under the same brand would likely need to be able to handle a massive influx of traders. The headache of all of that could probably discourage the best of us.

I do not see it happening, though. Maybe we can see a push to some jurisdictional safe-haven, where firms can operate without Meta, but their aren't any pioneers in this space that would probably even consider it.
  • #30,678
  • Feb 15, 2024 10:00am Feb 15, 2024 10:00am
Quoting Nsak3y
{quote}-Yeah, and even if they could, they would probably have to start over with an entirely new platform unless someone has been working on a solution behind the scenes. For MFF, with their own servers and established systems etc., that would probably be a lot of work and testing, all without traders to stress-test. Any return to this space under the same brand would likely need to be able to handle a massive influx of traders. The headache of all of that could probably discourage the best of us. I do not see it happening, though. Maybe we can...
They have access to a lot of technology that others do not (I helped with some of it). But having the permanent spot light on you likely isn't something anyone would want to live through. There are a few discussions of ex- MFF staff talking about some technology now but mostly the discussions are around not wanting to get involved in the prop/eval space until regulators provide clarity.

There are talks of UK and Aus regulators also swinging an Axe shortly.
  • #30,679
  • Feb 15, 2024 10:05am Feb 15, 2024 10:05am
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  • #30,680
  • Feb 15, 2024 10:13am Feb 15, 2024 10:13am
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