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  • #43,401
  • Oct 20, 2024 4:35am Oct 20, 2024 4:35am
Just wondering if anyone managed to get a payout from tradeify yet? I still need 2 trading days but my profit hasn't been as consistent as I thought I would be. Still need 700 to qualify for the first payout in those 2 days.
  • #43,402
  • Oct 20, 2024 6:06am Oct 20, 2024 6:06am
...
Inserted Video
  • #43,403
  • Oct 20, 2024 6:39am Oct 20, 2024 6:39am
Quoting TrAndy1
...https://www.youtube.com/watch?v=MnTdE1PzPIU
Who the hell is this clown
Investment Trading
  • #43,404
  • Oct 20, 2024 7:01am Oct 20, 2024 7:01am
Quoting Doubla
{quote} Who the hell is this clown
The latest prop CEO if he makes his dream come true. He is looking for partners right now. He wants a new type of prop firms. See all his videos regarding this topic.
He said he has 3 decades market experience and also traded for a hedge fund but got kicked out when Oil price crashed and went negative. Similar to me, but it is not me. He wants to implement something different. He wants to offer cheap prices and direct funding model. He wants to create money managers trading all products, like options and equities too through Interactive Brokers he said. He got some big investor behind and is now looking for more money and partners. Let' see what it will be.
  • #43,405
  • Oct 20, 2024 9:43am Oct 20, 2024 9:43am
Quoting Capablanca
{quote} I didn't understand those - 6th withdrawal, 100% available -> What does it mean ? - Safety net required—only profits above buffer can be requested. -> wasn't this already the case since the beginning ? Let's see what comes up from this: - Program to track MAE (Maximum Adverse Excursion) vs. realized profits. It can be bad if wrongly implemented.
The 30% profit rule is especially at the beginning stupid. If you have no profits you are not allowed to make any profit. Second after your first day of profit, you are only allowed to make 30% of those profits on the next day ? Did not understand how this is gonna implemented at Apex now. But there are some contradictions involved.
  • #43,406
  • Oct 20, 2024 9:59am Oct 20, 2024 9:59am
Quoting fx_rookie
Summary in details from BrianStonk in X https://x.com/thebrianstonk/status/1847844126072463467
Are you forced to Live trading at Apex now ? Because then it does not make sense for a lot of traders. Usually going live means being registered as advisor in your home country otherwise no financial regulator will allow this except you sit in Bahamas or Cayman Islands of course. Going live on funded accounts is (must be) a dealbreaker! The regulators will prohibit any prop firm when they go on live funds with independent contractors. It is only allowed when they are registered themselves and hire traders. If traders are independent they need to be registered aswell when going live, there is no other choice in 99% of all countries in the world. When there is real money involved it is all regulated. You cannot say anymore it is just a videogame or simulated only. Then the whole advantage trading on such prop firms is gone!
  • #43,407
  • Oct 20, 2024 10:22am Oct 20, 2024 10:22am
That those stupid prop firms do not get it. They cannot take traders as independent contractors and say later you are gonna be live with third party money. And not saying anything, that this is not allowed in nearly all countries in the world, without being registered as financial advisor. Everytime when they set you on live account and all trades are being copied in the real market, 100% on your account, you are subject to the regulators. That will take regulators on the plan, prohibiting them !!!
  • #43,408
  • Edited 11:31am Oct 20, 2024 11:02am | Edited 11:31am
Quoting TrAndy1
That those stupid prop firms do not get it. They cannot take traders as independent contractors and say later you are gonna be live with third party money. And not saying anything, that this is not allowed in nearly all countries in the world, without being registered as financial advisor. Everytime when they set you on live account and all trades are being copied in the real market, 100% on your account, you are subject to the regulators. That will take regulators on the plan, prohibiting them !!!
you are completely wrong , what you say relates to the case where you are looking for money to trade from people in the street and hold yourself out as a financial advisor without having any registration.

Those prop firms are offering you money to trade , the other way around and that is why you do not need any license in most cases



for example , here is what proppers.io says about this

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proppers.io/faq
  • #43,409
  • Edited 11:33am Oct 20, 2024 11:08am | Edited 11:33am
And this is what Apterostrading says ;

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Even Interactive brokers offers a friends& family account that allows you to trade in a limited way for family members without asking money for the service

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For example , if you want to be a prop trader if securities in the USA , you need to obtain a license


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https://medium.com/@Forexinsights/wh...m-2af1500695ed


I have traded in a futures prop firm in my younger years in Europe ,and I have never heard of any that required you to have a license

here is 1 of the biggest in the USA ,Smbcap.com , ask them what license you need to trade with them …
  • #43,410
  • Edited 11:25am Oct 20, 2024 11:12am | Edited 11:25am
Quoting Stoneyrocks
{quote} you are completely wrong , what you say relates to the case where you are looking for money to trade from people in the street and hold yourself out as a financial advisor without having any registration. Those prop firms are offering you money to trade , the other way around and that is why you do not need any license in most cases for example , here is what proppers.io says about this {image} {image} https://www.proppers.io/faq
This is wrong. I know the laws better because I worked in that industry and had to deal with the national laws all the time for years. If the prop firm is not registered itself as financial advisor or real prop firm, they are not allowed to take traders trading their own money. Fact. They need to hire traders and not take them as being independent, because this means, that you as trader take the responsibility and needs to be registered. It can be questionable who needs to be registered, the prop firm or the trader, but it is 100% sure that trading a live account always require some registration as it is part of the banking business (see wealth management, prop trading on the bank) which is regulated. I do not care about your source. It is completely wrong. If you face jail time because of your internet research, I would be more cautious. You definitely can go to jail when doing that and pay a big fine to regulators, and also being banned for a long time in that industry itself (also the prop firm).
  • #43,411
  • Edited 11:48am Oct 20, 2024 11:15am | Edited 11:48am
Quoting Stoneyrocks
And this is what Apterostrading says ; {image} Even Interactive brokers offers a friends& family account that allows you to trade in a limited way for family members without asking money for the service {image}
The family&friends account is allowed in USA because you stay under radar. You can have 15 friends with up to a sum of $150k max., and this depends on each country. Here in Germany you can have like 3 friends with up to 500k. But anything beyond those limits you are subject to regulation. And here you see why it is regulated, because such under the radar rules do exist. The regulators do not go for bargain, so staying under radar is the only way. And this varies from country to country!

https://www.sec.gov/news/press/2011/2011-134.htm
https://www.sec.gov/about/offices/oi...aze-042012.pdf
https://www.sidley.com/en/insights/n...-trading-firms
https://www.thetradenews.com/majorit...nded-sec-rule/
https://whichfunded.io/blog/navigati...friendly-guide
https://www.risk.net/regulation/7948...tens-liquidity

"Key Takeaways:

  1. Prop trading refers to the practice of using a firm’s own capital to trade in financial markets for profit.
  2. In the US, prop trading is legal and regulated, but there are certain restrictions and requirements imposed by regulatory bodies like the SEC.
  3. To engage in prop trading, firms generally need to register as broker-dealers and comply with regulations such as the Volcker Rule.
  4. Firms involved in prop trading may face limitations on certain types of trades and may be required to implement risk management measures.
  5. Prop traders are subject to oversight and scrutiny by regulatory agencies to ensure compliance with applicable laws and regulations."

If challenge prop firms choose to go live then they are subject to the real prop firm which is required to be registered and regulated.

  • #43,412
  • Edited 12:39pm Oct 20, 2024 12:15pm | Edited 12:39pm
Quoting TrAndy1
{quote} I do not care about your source. It is completely wrong. .
my source are real prop firms who have consulted lawyers and have been many years in business

More credible than some kid on a forum, no ?

You will be an independent contractor with Apteros, Lux, Axi, ,etc..





ask Apteros

ask genevatrading

ask the gelbergroup

ask Axi

ask Lux

let me know what you find out..
  • #43,413
  • Oct 20, 2024 12:36pm Oct 20, 2024 12:36pm
Quoting Stoneyrocks
{quote} my source are real prop firms who have consulted lawyers and have been many years in business You will be an independent contractor with Apteros, Lux, Axi, Earn2trade,etc.. More credible than some kid on a forum, no ? ask Apteros ask genevatrading ask the gelbergroup ask Axi ask Lux let me know what you find out..
You should go the university again to find out what are the current laws. Study some basic laws and you will find out how strict the USA and other countries are.
Those props do not care if you win or can make profits, they also do not care if you get legal problems or go to jail. They do not care about you at all. Do not ask them.
It seems you have no basic knowledge about laws at all especially also in the financial industry. You will likely never have worked in the banking business too. Now you stay in your internet bubble and believe everything what you already believed before. That is why stay in your bubble. This is quite common because of the search algorithm. It presents you what you already believed to know. In your age you should be more awaken, but it seems you behave like a child believing criminals, who have only your money in the mind and nothing else. They have no interest you make a dime or one US Dollar. Those prop firms are not on your side, you already forgot.
  • #43,414
  • Oct 20, 2024 12:53pm Oct 20, 2024 12:53pm
The only thing what is likely to happen is, that when you ask too many uncomfortable questions such prop firms, you get banned from using them. That is all.
Because they have no legal department, most of them. And you are definitely not talking with any lawyer from them, you are talking at best with marketing guy who has no clue at all. Probably never worked really in the financial industry before. And from those marketing tricks you believe anything what those props are telling you ?
  • #43,415
  • Oct 20, 2024 1:15pm Oct 20, 2024 1:15pm
Quoting Doubla
{quote} Who the hell is this clown
Just another failed trader begging for money in hopes of collecting fees from other failed traders.
Pride always comes before destruction.... -Proverbs 16:18
  • #43,416
  • Edited 1:38pm Oct 20, 2024 1:17pm | Edited 1:38pm
Quoting TrAndy1
{quote} You should go the university again to find out what are the current laws. Study some basic laws and you will find out how strict the USA and other countries are. Those props do not care if you win or can make profits, they also do not care if you get legal problems or go to jail. They do not care about you at all. Do not ask them. It seems you have no basic knowledge about laws at all especially also in the financial industry. You will likely never have worked in the banking business too. Now you stay in your internet bubble and believe...
I am talking about the real props where you will get an actual live account where every trade you make is going live ,not about the fake props , like most we talk about here are , who maybe execute some trades in the live market and pay out most of the profits from the fees

if you cant see the difference , well, then I can only pray for you..

here is a list of real prop firms , and look , Topstep made it to that list

https://www.traderslog.com/proprietarytradingfirms
  • #43,417
  • Oct 20, 2024 1:36pm Oct 20, 2024 1:36pm
Quoting Expo33
{quote} Just another failed trader begging for money in hopes of collecting fees from other failed traders.
True. For a consistent profitable trader there is no need begging for money through a prop firm. But actually it seems like free money as everyone can get away even he is rug pulling and take all traders money home. They just can take the money from the accounts and buy Lambos and everything. And nobody cares or sue them legally.
  • #43,418
  • Oct 20, 2024 1:38pm Oct 20, 2024 1:38pm
Quoting Stoneyrocks
{quote} I am talking about the real props where you will get an actual live account where every trade you make is going live ,not about the fake props , like most we talk about here are , who maybe execute some trades in the live market and pay out most of the profits from the fees if you cant see the difference , well, then I can only pray for you..
I get you now. So you are talking about real prop firms who are not registered and they do not require you to have a license ? I mean there are offshore real prop firms, but it depends on the country of course. I was referring to the USA in my examples. They are very strict and you cannot have a non registered real prop firm there.
  • #43,419
  • Oct 20, 2024 3:12pm Oct 20, 2024 3:12pm
Blue Guardian / Aqua coming to futures soon:
https://x.com/BaintzCEO/status/1848074478573801773
  • #43,420
  • Edited 5:55pm Oct 20, 2024 4:58pm | Edited 5:55pm
So anyone who is trading with Apex, are the new rules better or make it worse for you ? What is your opinion on that ? They should be effective since today now.
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