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Anyone trading with a Prop firm 31 replies

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  • #31,261
  • Feb 20, 2024 7:46am Feb 20, 2024 7:46am
Quoting TrAndy1
{quote} The interview on RFT is not mandatory to be published. The $100k with discount is now $250 only. Spreads are very good and only $2 rtl as commission.
Great. Only problem is the platform issue and the broker issue. Other than that, looks great.
  • #31,262
  • Feb 20, 2024 7:49am Feb 20, 2024 7:49am
Quoting pipmaster77
{quote} and people wonder why US traders use offshore brokers as opposed to the absolute trash in the US.
Yes the spreads on the US brokers is definitely crazy - kinda forces me to focus on US related pairs which have slightly better spreads than the others. Pipmaster do you have any current recommendations on offshore brokers?
  • #31,263
  • Feb 20, 2024 7:56am Feb 20, 2024 7:56am
Quoting pipmaster77
{quote} Great. Only problem is the platform issue and the broker issue. Other than that, looks great.
You as American can still join them with MT5 on Taurex broker (which Zenfinex) a good one. That won't last too long I guess.
  • #31,264
  • Feb 20, 2024 8:03am Feb 20, 2024 8:03am
There are 4 reasons behind MQ actions

1] Compliance with contractual agreements - MQ license agreements have certain clauses around jurisdictional compliances. If an entity / broker is using MT, they are not expected to serve customers where the entity broker have no authorization. If they serve, the entities / brokers are liable for their actions

2] Regulatory - There is a regulatory pressure on vendors [including MQ] who are offering services to eval firms.

3] Risk - MQ is facing a litigation in US by an individual who lost money in FX fraud. This instance was one of the reasons behind Apple's decision to remove MT from app store around 2 years back. Now that person sued MQ and a few other entities. MQ filed a motion requesting the court to dismiss the suit on jurisdictional basis [MQ says it should be done in Cyprus. Not in US]. In a separate motion, judge denied their argument and ordered discovery. On this main motion, judgement is pending. Expected any day. This case will pose major problem, if discovery goes ahead as discovery will show there are US customers on MT through entities which have no authorization to serve US customers.

4] Commercial - MQ is not getting proper income from the eval firms. It is the brokers who are benefitting most. This shake up will help them to rework on the commercial model. Future - MQ will remain in US and will be used by the entities which have authorization in US. MQ will continue to serve eval propfirms in other countries [other than US].
  • #31,265
  • Feb 20, 2024 8:19am Feb 20, 2024 8:19am
Quoting Mitiblotch
{quote} Why do you not trust them, if I may ask? I think I agree with your opinion that firms that don't leave the US are suspicious.
This is something have been saying ever since, you can't introduce all illegal way to take clients from a particular jurisdictions when the authorities
in that jurisdictions are saying you should not, that is is illegal.
And then you will want me to trust you with paying me and financial obligations. it's is a lie, from the pit of hell. Red Flag.
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #31,266
  • Feb 20, 2024 8:22am Feb 20, 2024 8:22am
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  • #31,267
  • Feb 20, 2024 8:33am Feb 20, 2024 8:33am
Quoting Fisher755
{quote} It could be a problem yes. 2% is really 20% on available DD. It is a problem at many props as you can see on this page and many before this. Just read back.
ONE THING this prop firms need to do is that bring all the money they have given to pascal, nouman, palladin, jadcap etc etc back
pascal as per the records have made 2.5 million dollars in profit, jadcap made over 1 million dollars in profits, nouman has made over 750k in profits
they have given so much to these folks
and now this prop firm wants other traders to make just 1% and 2% in every payout otherwise their payout will be denied
this is totally bullshit, discrimination, assasination of traders
  • #31,268
  • Feb 20, 2024 9:01am Feb 20, 2024 9:01am
Quoting genuine007
{quote} ONE THING this prop firms need to do is that bring all the money they have given to pascal, nouman, palladin, jadcap etc etc back pascal as per the records have made 2.5 million dollars in profit, jadcap made over 1 million dollars in profits, nouman has made over 750k in profits they have given so much to these folks and now this prop firm wants other traders to make just 1% and 2% in every payout otherwise their payout will be denied this is totally bullshit, discrimination, assasination of traders
Like everything in life......it's all about timing. Those first in the prop space who figured out how to do it made a killing. There was then a very small window to still do pretty well as I know I and others have. Unfortunately, that window has now been SLAMMED shut.
  • #31,269
  • Feb 20, 2024 9:11am Feb 20, 2024 9:11am
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  • #31,270
  • Feb 20, 2024 9:13am Feb 20, 2024 9:13am
Quoting TrAndy1
{image}
Yes. I hate this.
  • #31,271
  • Feb 20, 2024 9:24am Feb 20, 2024 9:24am
Quoting ianhjulberg
{quote} Yes. I hate this.
I can't recreate my template from MT4. I feel like I can't even trade. This is eff'd.
  • #31,272
  • Feb 20, 2024 9:25am Feb 20, 2024 9:25am
Quoting TrAndy1
{image}
Photo kinda sums up prop firms for US traders, cuz our connection has been lost.

Needless to say I’ve been busy getting acclimated to futures, and to offshore cfd brokers.
A snails pace wins the race :-)
  • #31,273
  • Feb 20, 2024 9:46am Feb 20, 2024 9:46am
Quoting genuine007
{quote} ONE THING this prop firms need to do is that bring all the money they have given to pascal, nouman, palladin, jadcap etc etc back pascal as per the records have made 2.5 million dollars in profit, jadcap made over 1 million dollars in profits, nouman has made over 750k in profits they have given so much to these folks and now this prop firm wants other traders to make just 1% and 2% in every payout otherwise their payout will be denied this is totally bullshit, discrimination, assasination of traders
It's indeed nonsensical. Although I didn't see it written anywhere in their fine print except I missed it. However, if a client can trade with minimal drawdown and can take multiple trades that yield a lot of profit, those prop firms shouldnt be moaning about it. Imagine asking me to make just 2% on a 100k account when I could easily make 10% or more every month. I read that FTMO actually pays irrespective of what you make so long as you don't breach their rules. I have decided to go with FTMO on a 100k account. If I make money they should pay me and not tell me stories. If I wanted to make 1% I would use my personal account, which is doing just fine.
  • #31,274
  • Feb 20, 2024 9:51am Feb 20, 2024 9:51am
Quoting pipmaster77
{quote} Like everything in life......it's all about timing. Those first in the prop space who figured out how to do it made a killing. There was then a very small window to still do pretty well as I know I and others have. Unfortunately, that window has now been SLAMMED shut.
Do top firms like FTMO force you to only make 2%? On a 100k account that's a paltry 2k. Doesn't sound nice.
  • #31,275
  • Feb 20, 2024 10:02am Feb 20, 2024 10:02am
another drama that is going on youtube is ICT concepts
every trader in every interview just telling that he is using ICT concepts
it seems like these interviews are paid and just doing publicity of ICT concepts
and that ICT man has made over 10 million dollars just by paid mentoring ICT concepts to those who are not happy with freely available content
or they are just using the same words and similar explanation what others are using
also every person show tradingview to analyse the charts or for telling their strategy
they can show MT4, MT5 directly but naaaaahhh..
they have to show tradingview charting platform in every interview
and yeah one thing is common among that they say they risk 1% per trade this is another bullshit how the heck you made 100% in 20 days risking 1% per trade
  • #31,276
  • Feb 20, 2024 10:03am Feb 20, 2024 10:03am
Quoting Mitiblotch
{quote} Do top firms like FTMO force you to only make 2%? On a 100k account that's a paltry 2k. Doesn't sound nice.
Not so much FTMO, but may others will ban you if you make too much. It really used to be comical when the firms would ask you to flip the account (10% target with 10% max DD) in 30 days (before unlimited came about) then after you flip the account in 30 days, once live, they'd come back with "Respect our capital, we don't like gamblers" and ban you if you made too much.
Monty from the thread just got banned by MyFlashFunding after making a 30K profit.
  • #31,277
  • Feb 20, 2024 10:07am Feb 20, 2024 10:07am
TrAndy1,

What do you have for us the current status of E8Markets? They seem really silent of late.
  • #31,278
  • Feb 20, 2024 10:09am Feb 20, 2024 10:09am
UPDate time - PRETTY MIXED LAST WEEK

1. BLUEgaurdian 200k 8% dd - LOST
2. E8markets 200k 8%dd -LOST
3. SKilledFundedTrader (PHASE 1)200k - 6-6% with 10% dd - 2% up
4. SKilledFundedTrader (PHASE 1)200k - 8-5% with 10% dd - 3.5% up
5. MYFundedFX (PHase 1) dxtrade 200k - 5% up
6. Alpha Capital FUnded at Breakeven (payout date is 26th so trying to achieve 5%)
7. Myflashfundinding - Cancelled after payout.
Extreme gut feeling trader
  • #31,279
  • Feb 20, 2024 10:12am Feb 20, 2024 10:12am
if every trader out trade use tradingview charting platform to analyse charts and placing trades
then why the heck they crying a lot after MQ drama and when no mt4, mt5 will be available to trade
people are liar, this world is full of liar, nouman in one interview was saying that "let me tell you a secret which i have not tell in any interview" with ANA from TFT
yeah, i take trades on demo first then i wait till my trades hit 3 sl in a row and then I take trade in real funded account "ANA was also laughing loudly"
if you can't tell your strategy, can you please shut the fuck your mouth and not telling nonsense things to people, and after that interview Angelo banned him from TFT
  • #31,280
  • Feb 20, 2024 10:13am Feb 20, 2024 10:13am
Quoting pipmaster77
{quote} Not so much FTMO, but may others will ban you if you make too much. It really used to be comical when the firms would ask you to flip the account (10% target with 10% max DD) in 30 days (before unlimited came about) then after you flip the account in 30 days, once live, they'd come back with "Respect our capital, we don't like gamblers" and ban you if you made too much. Monty from the thread just got banned by MyFlashFunding after making a 30K profit.
Thanks for your response. I decided to go with FTMO yesterday. Hopefuly it goes well. I don't trade aggressively anyway.
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