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  • #30,861
  • Feb 17, 2024 9:13am Feb 17, 2024 9:13am
You need to check with FTMO about the requirements with business entity signup. This would be the right time point as US resident now. If you need an office in Dubai too and another person as CEO of that company too for KYC later. And you are just the owner of that Dubai company etc.. And you would need of course a VPN from Dubai that you are trading from that Dubai office with FTMO. Just ask FTMO as American now I would suggest. My two cents.
  • #30,862
  • Feb 17, 2024 9:15am Feb 17, 2024 9:15am
Voyage Markets [Angelo's upcoming entity] was registered in Colombia as hosting services, IT analysis, Data processing etc. Seems the idea is to have an eval propfirm itself. Not a gaming entity. Need to see when they launch, what exactly it is.
  • #30,863
  • Feb 17, 2024 9:20am Feb 17, 2024 9:20am
Quoting TrAndy1
Also impossible to scale-in on a trailing Drawdown, because if you scale-in on a winning trade you are risking more of your profits (only), but this is not the case with a trailing DD, as it can go against you, all those profits come down will count towards the trailing DD. That is pretty bad. Your chances are much lower to win here.
EOD trailing is not as bad
Intraday trailing is pure evil lol - Breakevens, high R:R, letting runners run & scaling in can all kill you
  • #30,864
  • Feb 17, 2024 9:29am Feb 17, 2024 9:29am
Quoting CableJ
{quote} EOD trailing is not as bad Intraday trailing is pure evil lol - Breakevens, high R:R, letting runners run & scaling in can all kill you
Exactly. I was thinking about Apex they have intraday trailing DD. Do you know any cheap Futures prop with EOD where you can have more than just 1 or 3 accounts ?
  • #30,865
  • Feb 17, 2024 9:34am Feb 17, 2024 9:34am
Quoting TrAndy1
{quote} Exactly. I was thinking about Apex they have intraday trailing DD. Do you know any cheap Futures prop with EOD where you can have more than just 1 or 3 accounts ?
Takeprofit, Topstep & Tradeday on sale are probably the best EOD options.
  • #30,866
  • Feb 17, 2024 10:07am Feb 17, 2024 10:07am
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  • #30,867
  • Feb 17, 2024 10:20am Feb 17, 2024 10:20am
Quoting AaronPriest
{quote} Most people can't just simply change residence.
Impressive how people talk about moving to another country like if we're talking about changing the place where we shop weekly....

Anyway, TrAndy is raising a much better point. Wouldn't be viable for americans to create a company in one of those countries without much bureaucracy and taxes ?
I'm not familiar with this but I think it's not too expensive and may worth a try, not just for props, but also to trade CFDs in a offshore brokers if they accept business companies.

I know this would not be for everyone, definitely not to purchase a 5k challenges, of course, but I wonder if this could be an alternative option. At least much easier than than moving overseas.

I can't help on that, as I know nothing about it, but I can direct you for a very good forum where you will find a lot of useful information in the free area (and they also have a paid area with more info, which I never saw). There are also some gold members there that provide these kind of services.
https://www.offshorecorptalk.com/
  • #30,868
  • Feb 17, 2024 10:34am Feb 17, 2024 10:34am
Quoting Cryptosurf
{quote} If you know how to play the game, then most of these future props are honeypots.
I see lots of traders posting that they've failed 30, 40 or more combines/evals/gauntlets or what have you.

Seems like they are a honey pot for these sim based prop firms.
Life itself is a privilege, but to live life to the fullest is a choice
  • #30,869
  • Feb 17, 2024 10:38am Feb 17, 2024 10:38am
Quoting Capablanca
{quote} my question stands: what exactly do these guys bring differently from the existing ones ? It's always good to learn from whoever did the homework, comparing multiple props, which I guess you did. I didn't know them that's why I'm asking.
Maybe things have changed, and I have not looked into EVERY "prop" futures firm out there.

Do you know which of the ones you mention actually fund live accounts that allow a trader to build equity versus the many, many who merely provide the trader with a "funded sim" account where the trades are bucketed by the prop firm and any profits paid to the trader come from the prop firm's pocket, not the market?
Life itself is a privilege, but to live life to the fullest is a choice
  • #30,870
  • Feb 17, 2024 10:38am Feb 17, 2024 10:38am
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  • #30,871
  • Feb 17, 2024 10:40am Feb 17, 2024 10:40am
Quoting Capablanca
{quote} Impressive how people talk about moving to another country like if we're talking about changing the place where we shop weekly.... Anyway, TrAndy is raising a much better point. Wouldn't be viable for americans to create a company in one of those countries without much bureaucracy and taxes ? I'm not familiar with this but I think it's not too expensive and may worth a try, not just for props, but also to trade CFDs in a offshore brokers if they accept business companies. I know this would not be for everyone, definitely not to purchase...
I know that forum and a regular member. If as a US citizen you would like to incorporate without releasing your identitiy I adivse you to hire a nominee director. But know the pro's and con's.
  • #30,872
  • Feb 17, 2024 10:56am Feb 17, 2024 10:56am
Quoting AaronPriest
{quote} Most people can't just simply change residence.
It's a cost of 5-7000$ and Zero tax. If you are a trader and if you work with prop firm... It's very easy to change your residence.
  • #30,873
  • Feb 17, 2024 11:00am Feb 17, 2024 11:00am
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  • #30,874
  • Feb 17, 2024 11:05am Feb 17, 2024 11:05am
TFF
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  • #30,875
  • Feb 17, 2024 11:40am Feb 17, 2024 11:40am
Quoting vidvad
{quote} Maybe things have changed, and I have not looked into EVERY "prop" futures firm out there. Do you know which of the ones you mention actually fund live accounts that allow a trader to build equity versus the many, many who merely provide the trader with a "funded sim" account where the trades are bucketed by the prop firm and any profits paid to the trader come from the prop firm's pocket, not the market?
I don't know. I assume that all of them have just a trading videogame, even if they say that we will be live funded.

I know at least one that was saying that were providing a live accounts and this was false because the trades were never sent to cme (I made the trailing audit myself to confirm my suspicious).
I'm pretty sure they ara not the only ones lying
  • #30,876
  • Feb 17, 2024 11:41am Feb 17, 2024 11:41am
Quoting Tim_isoara
{quote} It's a cost of 5-7000$ and Zero tax. If you are a trader and if you work with prop firm... It's very easy to change your residence.
For most developed countries you need to live in UAE a certain number of days per year, otherwise you won't be considered a tax resident in UEA. It's not just like ordering online a passport.
  • #30,877
  • Feb 17, 2024 11:58am Feb 17, 2024 11:58am
Quoting Quickly
{quote} This is just wrong. It isn’t true. OMG, this forum is packed with statements which people post as if they’re facts, and such a high proportion of them are just untrue. Does nobody here ever distinguish between fact and opinion?!
a big problem is too that you and Karl often talk about futures are always better then CFD, this beginner mistake you both repeat and repeat.

and because you both talk about this so extrem it make me wonders if you really are in industry long time or experienced. thats a so big beginner mistake and i did tell you both very often why its wrong, you both never learned....

so you blame people for do same like you do.. so be carefull not look blame yourself by this.
at least you should know what you speak about and have arguments why its true. and find arguments why futures are better then CFD all the time will be losing fight. more worse finding arguments for using futures in daytrading currencies is even an idiotic fight. hiding behind your mistakes dont make it better and dont let you look smart or educated. thats why dont blame other so often for what you dont know better.
  • #30,878
  • Feb 17, 2024 12:10pm Feb 17, 2024 12:10pm
As someone that ignores both quickly and karlkraus I'd say this everybody's experience here would be much better if they did the same. Also wouldn't have to read people repeating themselves over and over
  • #30,879
  • Feb 17, 2024 12:19pm Feb 17, 2024 12:19pm
Quoting Tobiazzek
As someone that ignores both quickly and karlkraus I'd say this everybody's experience here would be much better if they did the same. Also wouldn't have to read people repeating themselves over and over
That would be no fun though.
  • #30,880
  • Feb 17, 2024 12:20pm Feb 17, 2024 12:20pm
Bunch of folks I know now have gotten chargebacks for their fundingpips account and bought elsewhere (despite my warnings). Chargeback or not, running off to another firm other than FTMO is a mistake.
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