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  • #31,321
  • Feb 21, 2024 7:46am Feb 21, 2024 7:46am
Quoting Nsak3y
{quote}-It is equivalent to Real Estate Commissions investigating alleged violations of licensing laws for a monopoly game where players are playing with real money. It's nonsensical, and yet, the CFTC will probably win.
Why don't they ban Casinos . CFTC has already won the battle. If you leave US clients their 50% revenue is gone. This will create issues in withdrawal and reduces signups.
  • #31,322
  • Feb 21, 2024 7:54am Feb 21, 2024 7:54am
Quoting sampat
{quote} Why don't they ban Casinos . CFTC has already won the battle. If you leave US clients their 50% revenue is gone. This will create issues in withdrawal and reduces signups.
This is only true if US traders have different stats and composition. If they fail more than everyone else then it's a more profitable segment, but I'm not sure if that's the case though, why would it be? If anything, US traders have access to much more resources to help them become profitable. If the revenue drops 50% but people still fail as many accounts in percentage terms as before, then the business will go on just fine. It's now only a 50% smaller business than before, but still profitable.
  • #31,323
  • Feb 21, 2024 7:58am Feb 21, 2024 7:58am
Quoting Artcool
You seem to forget that money from challenges will stop flowing in since US customers are banned. I guess you will see a difference face of those prop firm owners, including the ones on top of your list. Let's be honest. It's a dirty business for those who start those prop firms. You bet on your customers to lose money so you can make some cash. I will never forget all their lies about live accounts and "we win when you win" or "we are looking for profitable traders". I mean, you can't engage in such business if you are a normal person with a minimum...

https://twitter.com/GreenStealth7/st...ffrvj4ziQ&s=19
  • #31,324
  • Feb 21, 2024 8:00am Feb 21, 2024 8:00am
Quoting sampat
{quote} Why don't they ban Casinos . CFTC has already won the battle. If you leave US clients their 50% revenue is gone. This will create issues in withdrawal and reduces signups.
Their hand is in the cookie jar in casinos. Same with lotteries and sports betting. If they're in on it, it's OK. Lose your life savings, they do not care. However, when it comes to forex and CFDs, they need to "protect" us.
  • #31,325
  • Feb 21, 2024 8:07am Feb 21, 2024 8:07am
Hi guys

I would like to ask for recommendation for prop firms that are real and not scam and does payout.

Any seniors members here with experience with a reliable prop firm that does payout?

I'm currently on FundedNext challenge phase and about to hit the target soon.

Thank you for your sincere reply.
  • #31,326
  • Feb 21, 2024 8:08am Feb 21, 2024 8:08am
Quoting pipmaster77
{quote} Their hand is in the cookie jar in casinos. Same with lotteries and sports betting. If they're in on it, it's OK. Lose your life savings, they do not care. However, when it comes to forex and CFDs, they need to "protect" us.
I wished my government cared as much about me as yours..
  • #31,327
  • Feb 21, 2024 8:11am Feb 21, 2024 8:11am
Quoting sampat
{quote} Why don't they ban Casinos . CFTC has already won the battle. If you leave US clients their 50% revenue is gone. This will create issues in withdrawal and reduces signups.
assuming failure rate is roughly the same across the globe (unless you assume poor people are more disciplined with their mind, in turn, succesfull with markets), with that 30-40-50% revenue, that respective amount of expenses/payout is also gone. good business run by decent people does not try to keep their profit static like before by payout denials. i hope so. fx markets outside of us is flourishing.
  • #31,328
  • Feb 21, 2024 8:11am Feb 21, 2024 8:11am
Quoting noox
{quote} This is only true if US traders have different stats and composition. If they fail more than everyone else then it's a more profitable segment, but I'm not sure if that's the case though, why would it be? If anything, US traders have access to much more resources to help them become profitable. If the revenue drops 50% but people still fail as many accounts in percentage terms as before, then the business will go on just fine. It's now only a 50% smaller business than before, but still profitable.
Well this business runs on new signups. Do you think CFTC will stop only with US? Canada and Austraila is already on the queue and once they do Europe will follow. Only one left is UK, one all above is gone why anyone in UK will risk on prop firm when they already have good leverage and spread betting firms available.
Prop firms are more relevant to North America (US and Canada) as there is no good brokers like rest of world.
  • #31,329
  • Feb 21, 2024 8:17am Feb 21, 2024 8:17am
Quoting sampat
{quote} Well this business runs on new signups. Do you think CFTC will stop only with US? Canada and Austraila is already on the queue and once they do Europe will follow. Only one left is UK, one all above is gone why anyone in UK will risk on prop firm when they already have good leverage and spread betting firms available. Prop firms are more relevant to North America (US and Canada) as there is no good brokers like rest of world.
my wish is esma/asic/fca will greenlight this business. if i were ftmo, i would make solve potential regulation issues first. they can cut leverage to 30, but if they do not like model.
  • #31,330
  • Feb 21, 2024 8:30am Feb 21, 2024 8:30am
Quoting Zuke
{quote} Yeah, I wouldn't pay too much attention to what FXIFY support says...just a few days ago, 5ers were saying there was no issue and then banned us traders a day later. FTMO and 5ers are definitely the way I would be going right now.
Absolutely correct. One hr. after I had conversation with one of their reps, they announced no more USA traders.
  • #31,331
  • Feb 21, 2024 10:04am Feb 21, 2024 10:04am
okay, so now darwinex zero signup fees is just 10 euros instead of 100 euros (discount because to attract prop firm customers after this US & MQ drama)
and after that its 40 euros per month

what we have to do in it, we have to simply trades like we do on our normal brokerage account or prop firm challenge accounts
we have to just target a SCORE which helps later in getting fund allocations

but the problem I see in this that if you are doing prop firm challenge and funding accounts
and along with that you are also doing same trading on darwinex
and that trades are visible to public
then there is risk of your trades being copied by other traders especially on their challenge and funding accounts
which offcourse will create problem for us because then these prop firms will apply their hidden rules to breach your account or others account
if this was not the problem then I would have also gone with darwinex

and there is also feature called "ticker" in darwinex which we can hide, that will basically hide our trades and not show to public
but I don't know if we do this, will still funds allocate to us or not, no idea
also to get SCORE you need at least 6 months of data meaning you have to work atleast 6 months to make a record in darwinex
or you can simply may be add your previous account history from mt4 if you are in hurry,, i don't know if it works or not

& the risk per trade you need to keep very small, and maximum drawdown also very small and forget about account flipping in darwinex
that's not how their risk engine will work to generate your SCORE

If someone is doing work on drawinex here, please share so that traders can better understand it
I am just writing in brief and its not complete knowledge, darwinex is very big tool and to understand their formulas, their dashboard its not easy
and how to do trading in darwinex.. how to connect trading account with darwinex, there is lot of misunderstanding on internet
also I have not seen any person on youtube doing trading on darwinex, they just showing their dashboard and thing, they don't even show mt4, mt5 or any paltform where they are doing trading or from where the darwinex is picking trading history from to generate a score for the trader
  • #31,332
  • Feb 21, 2024 10:12am Feb 21, 2024 10:12am
Once again, just to demonstrate the garbage in the US, I am at 0.2 on GBPAUD right now with my prop, Forex.com is at 6.1.
This isn't just about prop firms or CFDs being banned, this is about the absolute criminal pricing and conditions the "regulated" offerings in the US provide.
  • #31,333
  • Feb 21, 2024 10:32am Feb 21, 2024 10:32am
Quoting genuine007
okay, so now darwinex zero signup fees is just 10 euros instead of 100 euros (discount because to attract prop firm customers after this US & MQ drama) and after that its 40 euros per month what we have to do in it, we have to simply trades like we do on our normal brokerage account or prop firm challenge accounts we have to just target a SCORE which helps later in getting fund allocations but the problem I see in this that if you are doing prop firm challenge and funding accounts and along with that you are also doing same trading on darwinex and...
Have you passed a prop firm eval yet?
Darwinex zero is a lot tougher to get funding than a prop challenge.
  • #31,334
  • Feb 21, 2024 10:43am Feb 21, 2024 10:43am
Quoting pipmaster77
Once again, just to demonstrate the garbage in the US, I am at 0.2 on GBPAUD right now with my prop, Forex.com is at 6.1. This isn't just about prop firms or CFDs being banned, this is about the absolute criminal pricing and conditions the "regulated" offerings in the US provide.
Exness has an account with 0 spreads only commission but dont accept europeans
  • #31,335
  • Feb 21, 2024 10:49am Feb 21, 2024 10:49am
Nobody wants to address the most difficult question but someone has to do it:

- When will we ban US people from this thread ? I don't want FF to face CFTC at court.

  • #31,336
  • Feb 21, 2024 11:00am Feb 21, 2024 11:00am
Quoting pipmaster77
{quote} Have you passed a prop firm eval yet? Darwinex zero is a lot tougher to get funding than a prop challenge.
Yes, I have passed 4 evaluation challenges and got 4 funded accounts but later lost them all within just 2 months.
Got 5 payouts in total. Covered all challenge fees. I am at breakeven if I see my prop firm challenges fees & payout trading history.
I have failed 6 challenges in phase1.

Yes, I can see darwinex formulas are very difficult to understand how they giving score & how their risk ingine creating its own index for account.
If at first we are not abe to understand it, then how can we do trading to get a better score, atleast we need to know at first how their engine or formula works.
I will try to find content on youtube regarding their risk engine and drawdown mechanism before starting darwinex trading account and build track record there.
  • #31,337
  • Feb 21, 2024 11:08am Feb 21, 2024 11:08am
Quoting Capablanca
Nobody wants to address the most difficult question but someone has to do it: - When will we ban US people from this thread ? I don't want FF to face CFTC at court.
Oh shit......never thought about that. I'm sure that will be next. I am surprised they haven't shut down the offhsore thread over at babypips yet.
  • #31,338
  • Feb 21, 2024 11:14am Feb 21, 2024 11:14am
Shhhh! Stop giving them more ideas!
  • #31,339
  • Feb 21, 2024 11:18am Feb 21, 2024 11:18am
This thread slipped me to hell. I am going to make youtube videos about it then become a whistleblower and make up lies to make the cftc close down this thread.
  • #31,340
  • Feb 21, 2024 11:26am Feb 21, 2024 11:26am
Quoting Takisd
This thread slipped me to hell. I am going to make youtube videos about it then become a whistleblower and make up lies to make the cftc close down this thread.
You don't need to act like MFF
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