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Anyone trading with a Prop firm 6 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

prop firm new model - my trading journey 871 replies

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Prop Firm Hub

Quoting Takisd
{quote} If you check a lot of the seo and marketing activity. gain capital (Forex.com) are clearly on the attack of props. Pick someone else me thinks.
Who else to pick? I've tried most of the US firms and really don't want to go offshore again.
Pride always comes before destruction.... -Proverbs 16:18
Quoting driven18
{quote} Try Oanda, I been with them for 4 years, before switching to futures and never had any issues and "you will trade like you never traded before"(in Trump accent)
As my post stated I traded with them for 10 years. Their website and support are atrocious and they've done nothing to fix the problem so my business goes elsewhere.
Pride always comes before destruction.... -Proverbs 16:18
Quoting Expo33
{quote} As my post stated I traded with them for 10 years. Their website and support are atrocious and they've done nothing to fix the problem so my business goes elsewhere.
Never an issue with Oanda, made allots of money through them, but moved to AMP futures and love trading Futures now.(Still in Trump accent )
Quoting Expo33
{quote} Who else to pick? I've tried most of the US firms and really don't want to go offshore again.
I do like interactive brokers.
Quoting montygoldy
{quote} discord mods said its alright.... still finger crossed ....
you worried about the deep drawdown you let it get to before recovery?

I always kill immediately when against me. Can’t stand triple digit “red”
A snails pace wins the race :-)
Quoting Takisd
{quote} I do like interactive brokers.
I have an account with them. Maybe I'll try them again.
Pride always comes before destruction.... -Proverbs 16:18
Quoting driven18
{quote} Never an issue with Oanda, made allots of money through them, but moved to AMP futures and love trading Futures now.(Still in Trump accent )
Never had an issue moving money in and out with Oanda.
Pride always comes before destruction.... -Proverbs 16:18
Quoting KarlKraus
{quote} It does: it tells people that you’re not trading profitably: Tradersway is absolutely fine as long as you don’t regularly make profits and try to withdraw them. For those (very, very few!) customers, it’s a whole different story. https://www.forexpeacearmy.com/commu...gs/tradersway/ https://www.forexfactory.com/thread/...dersway-broker
Thx for these links.

Now I'm all caught up on complaints from 4-5 years ago. Got anything for this decade?
Pride always comes before destruction.... -Proverbs 16:18
Quoting Expo33
{quote} Thx for these links. Now I'm all caught up on complaints from 4-5 years ago. Got anything for this decade?
Don’t encourage him, he just might come back with an anecdotal story about Jesse Livermore.
Trade with confidence, trade without fear.
Quoting Expo33
{quote} Thx for these links. Now I'm all caught up on complaints from 4-5 years ago. Got anything for this decade?
Sorry, didn’t realise how old they were, just took the first ones I saw here. The company hasn’t changed hands, or anything, though - it’s still the same people and still unregulated. And they’re still complete crooks.


Quoting Expo33
{quote} Never had an issue moving money in and out with Oanda.
No - nobody does. And if they did, it would be fixable: they’re properly regulated. Nothing hard to understand, here.
I think I made a big mistake involving myself with the $250K Apex accounts. They are hard to pass ! I could have passed $50k two times already.

Currently have 10-50K's and 5-250k evals APEX.
5-TopStep Evals
1-100k FXIFY

Only trading Gold (nothing else).

They all should be in funding stages by the end of the month. Looking forward to a good July !
Love Cars & Money !
  • Post #37,972
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  • Edited Jun 19, 2024 7:57am Jun 18, 2024 3:27pm | Edited Jun 19, 2024 7:57am
Quoting Expo33
{quote} Thx for these links. Now I'm all caught up on complaints from 4-5 years ago. Got anything for this decade?
I had accounts with that broker for over 10 years and the payouts were always fast. I would still be there if it wasn't for this meta-trader crap with U.S. citizens. I would go back today if I could, and yes I was profitable. I could have made more money if I did not have a day job at that time. Now retired. Its amazing how people with no experience with offshore brokers themselves are so quick to pull up some negative review like it's the gospel. At the end of the day everyone's experience will be different however, if all you have to contribute is negative about all brokers that are not regulated then this is probably not the thread for you. Just saying.
Quoting procrude
I think I made a big mistake involving myself with the $250K Apex accounts. They are hard to pass ! I could have passed $50k two times already.
-Yes, that additional draw-down allowance comes at a heavy cost. The 25k account is the best value, but most people opt for the 50k since it offers additional DD allowance and more purchasing power etc. while having a fairly reasonable DD-to-target ratio.
Quoting woody70
Its amazing how people with no experience with offshore brokers themselves are so quick to pull up some negative review like its the gospel.
-Yes. And it's usually the bad stories that you hear about, since people that are happy with their broker do not usually feel the need to go out of their way to tell everyone about it.
Quoting procrude
I think I made a big mistake involving myself with the $250K Apex accounts. They are hard to pass ! I could have passed $50k two times already. Currently have 10-50K's and 5-250k evals APEX. 5-TopStep Evals 1-100k FXIFY Only trading Gold (nothing else). They all should be in funding stages by the end of the month. Looking forward to a good July !
Not correct. Passing 250K is like passing 7-10 50K as trailing never stops.
Actually with trailing drawdown bigger account doesn't makes sense (unless End of day drawdown).
Only thing attractive with 250k were 85$ activation fees.
Also with apex enforcing mental stops, windfall shit 50K is better to stay under radar.
Quoting Nsak3y
{quote}-Yes. And it's usually the bad stories that you hear about, since people that are happy with their broker do not usually feel the need to go out of their way to tell everyone about it.
Exactly
Quoting KarlKraus
No - nobody does. And if they did, it would be fixable: they’re properly regulated.
-For most Americans, I suspect that the ability to recoup losses as a result of bad actors has more to do with jurisdiction than it does regulation.

Regulators typically serve as the last line of defense in that regard. Even if regulators can prevail in court and convince a judge to order restitution to victims, there is no guarantee that any/all money can be returned, and it can take a long time for all of that to play out.

On the other hand, a business that is operating on US soil is more exposed and vulnerable, giving consumers more options for recourse.
Quoting woody70
{quote} I had accounts with that broker for over 10 years and the payouts where always fast. I would still be there if it wasn't for this meta-trader crap with U.S. citizens. I would go back today if I could, and yes I was profitable. I could have made more money if I did not have a day job at that time. Now retired. Its amazing how people with no experience with offshore brokers themselves are so quick to pull up some negative review like its the gospel. At the end of the day everyone's experience will be different however, if all you have to contribute...
I did as well and I know atleast 3 others on here, and we were all profitable.
Anyone interested, pull up a spread comparison between Tradersway, Oanda, Forex.com and of course, throw in ICMarkets and Pepperstone. Look at the difference in some of the crosses.......so while regulated, CFTC brokers are absolute crooks, the regulations do not monitor the conditions, the random price spikes, the frozen platforms and all of the other bullshit tricks they LEGALLY get away with because they are "regulated"......what a crock of shit.
I used to watch price come within .01 of a stop on Tradersway and NOT take me out....good luck with that with these shitholes in the USA.
Quoting Capablanca
To me, personally, prop trading was a fantastic opportunity to speed up the funding of my personal accounts, in just a couple of years, much beyond what I would be able to achieve working and trading just personal account. The only thing I regret is not having been more aggressive in the beginning buying more expensive challenges and having spent too much time in shitty props models like Bluefx (monthly subscription) or TopStep (trailing), when there were much better options around at the time. Finding this thread was a turning point. I think most...
Exactly. For me, the best opportunity was MFF. I was able to take advantage of it but if I had known, I would have been, as you say, much more aggressive. It was a blessed time
Regarding Topstep looked into their rules more closely for withdrawals never touched them btw.
You need a $200 winning days minimum for 5 days but not in a row. In end even if their trailing stop ends at around 50k. Due to the risks you must use 2 mnq per order in a decent risk management, and still kinda in risk zone right as if you must trade them as evals to get to the $200 winning trade.
Thus forced to gamble way higher than a traditional forex prop to be eligible for a payout. So that $200 rule forces people to trade when market is in low volatilty with 1mnq or similar to even reach that $200 which means about more 3x more trade time and increases chances of failure too.

100k with 3k allowance gives at least some more breathing than the 50k account but not 50% more thats for sure so one get easily tricked by the numbers there at first glance.

So I dont understand how the pro Topstep people here deal with the $200 per day using 50k accounts. I assume you rotate the accounts very quickly. Get one account into profit then rock it hard then blow it since that withdrawal limit needed is so close and one must take gambling chances using the 50k account.

Topstep with sneaky hidden rules which in fact forces the newbies into become gambling addicts. If they buy anything below 100k accounts at least. Thus why the $49 for the 50k accounts is prolly selling like butter for them as its easy to fail it too once funded.

The fine print is always where the juice is.
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