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  • #34,561
  • Apr 9, 2024 5:55pm Apr 9, 2024 5:55pm
Quoting sampat
{quote} Well it is other way around. Overall traffic is reduced so they can't pay many people therefore finding ways to not pay. There were more reverse trading going on prop firms 1 year back than now as scammers are not fool to get scammed by prop firm. It is easier to make 100K payout when you have monthly signups of 1 million. Now it is reduced to 10K so even 20K payout is not possible.
For some firms, for sure.

I doubt FTMO lack the capital reserves to manage a revenue reductions, and since they were able to off-ramp the US traffic, retain MetaTrader, I imagine it was a smoother transition.
  • #34,562
  • Edited 3:36am Apr 10, 2024 12:48am | Edited 3:36am
Apex will eventually ban problematic profitable traders by banishing them to a live account where the reality of available L2 market depth without being "slipped to hell" will force limit position sizes to 15-20 contracts on YM & 30-35 contracts on NQ ect.

The gravy train will effectively be over for traders that require large total position sizes across 20 accounts in Apex's simulated environment. 4 contracts of NQ x 20 accounts = 80 contracts... good luck with that live.

The traders on YT like Patrick Weiland are paid affiliates and = marketing spend for Apex. The ? is when would Apex push non influencer traders live to get rid of them... +100K, +400K, +1M ?!?!?!?
  • #34,563
  • Apr 10, 2024 12:49am Apr 10, 2024 12:49am
Quoting AaronPriest
{quote} MyFundedFutures can only trade 1 account at a time (for trade copying) once you are funded, according to Discord moderators: Max Funding Allowed Manage Capital up to $600,000 Maximum Accounts = 10 Maximum Sim Funded Accounts tradeable at same time = 3 Maximum Live Funded Accounts tradeable at same time = 1 You can pass more than 3 challenges but any accounts above maximum sim funded limits will be in dormant state until you are no longer at maximum capacity of tradeable accounts. Note: You will not be charged any monthly fees on passed challenges...
On the top of that it's a firm run by Matt...
For those that want to know more about Matt:
https://twitter.com/CeoExposer69621/...15013733568995

I received several payout from MFFx but I don't trust a little bit in this artist.
  • #34,564
  • Apr 10, 2024 1:02am Apr 10, 2024 1:02am
Quoting pipmaster77
{quote} Yes!!!!!Awesome news. For once, folks are actually going to learn from previous mistakes.
I'm not so optimistic.

If the money is pouring like we suspect it is (millions and millions), this will attract all sort of scumbags like FPXF, Angelos and others.
We already had the pioneer Matt coming to this field and I'm afraid that a lot more will be coming.

What is missing is a tech provider that allow scammers to start easily, just like FPXF allowed kids to start props in their mom's basement.

If tech like FPXF comes, which I believe it will because there's a lot of money in the table, we will see futures props opening like mushrooms, then extreme competition to beat apex, more discounts, no feed feeds, unrealistic static DDs, etc., up to the point when most of them won't be viable and start denying payouts based in arbitrary rules like news, gambling, etc. Regulators will come, etc.

I hope not but I think it will be a repetition of what happened in forex.

It will take time, of course, but now is the time to milk this bubble.
  • #34,565
  • Apr 10, 2024 1:06am Apr 10, 2024 1:06am
Quoting CableJ
Apex will eventually ban problematic profitable traders by banishing them to a live account where the reality of available L2 market depth without being "slipped to hell" will force limit position sizes to 15-20 contracts on YM & 30-35 contracts on NQ ect. The gravy train will effectively be over for traders that require large total position sizes across 20 accounts in Apex's simulated environment. 2 contracts of NQ x 20 accounts = 80 contracts... good luck with that live. The traders on YT like Patrick are affiliates and = marketing spend for Apex....
When they put people in live I think they ()and the trader) have to fill in different kind of "paperwork", right ?

You guys that follow influencers and such, can't detect any pattern about when that happens ?
I would expect Apex to put people in live much earlier than that because at that time the liability is/was already a lot.
  • #34,566
  • Apr 10, 2024 1:13am Apr 10, 2024 1:13am
Quoting Capablanca
{quote} I'm not so optimistic. If the money is pouring like we suspect it is (millions and millions), this will attract all sort of scumbags like FPXF, Angelos and others. We already had the pioneer Matt coming to this field and I'm afraid that a lot more will be coming. What is missing is a tech provider that allow scammers to start easily, just like FPXF allowed kids to start props in their mom's basement. If tech like FPXF comes, which I believe it will because there's a lot of money in the table, we will see futures props opening like mushrooms,...
Every futures broker knows they have to deal with the CFTC... If Ninja who owns Tradovate & Rithmic deny new props then how would FX props even enter the space?
  • #34,567
  • Apr 10, 2024 1:23am Apr 10, 2024 1:23am
Quoting CableJ
{quote} Every futures broker knows they have to deal with the CFTC... If Ninja who owns Tradovate & Rithmic deny new props then how would FX props even enter the space?
Where there are millions to be made I would not be surprised to see some new crap videogame coming in, like matchtrader or such.
And some mirror feed and things like that, based in Dubai and so on.
Scammers have a lot of creativity when there is money to be made.
  • #34,568
  • Edited 1:44am Apr 10, 2024 1:24am | Edited 1:44am
Quoting Capablanca
{quote} When they put people in live I think they ()and the trader) have to fill in different kind of "paperwork", right ? You guys that follow influencers and such, can't detect any pattern about when that happens ? I would expect Apex to put people in live much earlier than that because at that time the liability is/was already a lot.
Not sure about required paperwork if it's just your DD capital traded in their account. If it's your account, then I would expect that would require the typical broker account opening docs.

Apex recently (last 2 months) signed contracts with a few of the bigger futures YT influencers that were previously under contract with Topstep. I doubt any of them have reached the "pushed to live" level.
  • #34,569
  • Edited 3:53am Apr 10, 2024 1:34am | Edited 3:53am
Quoting Capablanca
{quote} Where there are millions to be made I would not be surprised to see some new crap videogame coming in, like matchtrader or such. And some mirror feed and things like that, based in Dubai and so on. Scammers have a lot of creativity when there is money to be made.
Don't we already have that?... CFD's are the mirrored markets of the real futures markets. The moment anyone unregulated offers "futures" the CFTC will be on their ass, just like the SEC went nuclear on Binance the moment they tried to introduce single stock futures.
  • #34,570
  • Apr 10, 2024 2:41am Apr 10, 2024 2:41am
Quoting CableJ
{quote} Don't we already have that?... CFD's are the mirrored feed of the real futures markets. The moment anyone unregulated offers "futures" the CFTC will be on their ass, just like the SEC went nuclear on Binance the moment they tried to introduce single stock futures.
That's why I think the next ones will be offering from offshore countries and shady shell companies where may be more difficult for CFTC to force action when they scream "futures".
I hope to be wrong, obviously, but it's a helluva of millions that make any scammer salivate.
  • #34,571
  • Apr 10, 2024 2:44am Apr 10, 2024 2:44am
Just realized that E8 is not refunding challenges any longer.
They only offer a 5% additional in first payout as a bonus, which means that if someone paid 500 for the challenge and has 1000 in first payout the "refund" is only 50.
  • #34,572
  • Apr 10, 2024 2:57am Apr 10, 2024 2:57am
Is FPFX the tech provider for fundedpeaks? If no, I may buy one challenge.
  • #34,573
  • Apr 10, 2024 3:01am Apr 10, 2024 3:01am
Quoting ladder
Is FPFX the tech provider for fundedpeaks? If no, I may buy one challenge.
No it is not. They use a company in UAE for their dashboard. Before that they used some crappy scam whitelabel from US.
  • #34,574
  • Edited 3:57am Apr 10, 2024 3:41am | Edited 3:57am
Quoting Capablanca
Just realized that E8 is not refunding challenges any longer. They only offer a 5% additional in first payout as a bonus, which means that if someone paid 500 for the challenge and has 1000 in first payout the "refund" is only 50.
Without the US (was 1/3 of purchase market) &/or without Meta (80-85% of platform market) plus seeing TFT go down due to insolvency... I would expect more pullback by FX props on trader friendly rules, bonuses, refunds, discounts & payouts in the coming months to survive.
  • #34,575
  • Apr 10, 2024 7:11am Apr 10, 2024 7:11am
Quoting CableJ
{quote} Every futures broker knows they have to deal with the CFTC... If Ninja who owns Tradovate & Rithmic deny new props then how would FX props even enter the space?
If I had to pick just one thing to be sure this space doesn't get destroyed as the forex props did..........it would be this.....close the door, no new players allowed in or some type of barrier of entry to make it way tougher.....capital requirements, background, licensing, certification, etc......
  • #34,576
  • Apr 10, 2024 8:59am Apr 10, 2024 8:59am
Quoting pipmaster77
{quote}If I had to pick just one thing to be sure this space doesn't get destroyed as the forex props did..........it would be this.....close the door, no new players allowed in or some type of barrier of entry to make it way tougher.....capital requirements, background, licensing, certification, etc......
What will be rejection criteria. One cannot randomly reject prop firms. In order to reject new ones they need to come up with criteria like financial statements etc. I doubt anyone except APEX will be ready to give. Also why they will reduce their own income?
  • #34,577
  • Apr 10, 2024 9:06am Apr 10, 2024 9:06am
Licensing / regulation is the only realistic way to raise the barriers of entry.
  • #34,578
  • Apr 10, 2024 9:07am Apr 10, 2024 9:07am
For those that are migrating over to futures, I found a coder that can work with MT4, MT5, NinjaTrader, TradingView and Quantower etc..

I had a couple of TradingView indicators converted over to work with Quantower. Used Upwork, so the money sat in escrow until the job was completed to satisfaction. Not getting anything for sharing this. Also, use at your own risk.

https://www.upwork.com/freelancers/~0140e5119e6751a8d4
  • #34,579
  • Apr 10, 2024 9:14am Apr 10, 2024 9:14am
FE new trading rules regarding news trading

If you place trade 1 hours before news but during news hit your profit doesn't count
I think prop firm is crumble now !
Attached Image (click to enlarge)
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  • #34,580
  • Apr 10, 2024 9:15am Apr 10, 2024 9:15am
Quoting montygoldy
{quote} no one is matching apex offering + reliability. All the big traders are backing apex probably its not going away soon.....so better milk a million out of it..... who is with me
I agree ! You are an excellent trader !
Drawdown is more important than Account Size !
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