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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 Capablanca
{quote} Regulation will force them to provide live accounts to all, as soon as challenge is passed. This would be the end of the online industry as we know it because no prop would survive. Not to speak about direct funding models. This would be dead even before the law was approved.
Direct funding is already illegal in major jurisdictions as its just leverage. All it takes is for an interpretation that the money is a deposit and thats it.
Quoting Takisd
Direct funding is already illegal in major jurisdictions as its just leverage. All it takes is for an interpretation that the money is a deposit and thats it.
-From what I have seen, the draw-down offered is typically much greater than the buy-in, so I'm not sure if it can be interpreted as simply a deposit.
Quoting Nsak3y
{quote}-From what I have seen, the draw-down offered is typically much greater than the buy-in, so I'm not sure if it can be interpreted as simply a deposit.
Doesn't matter, so long as its a payment for an account thats considered "funded" its a deposit. MIFIDII will kick in on these accounts once the regulators figure out what they want to do exactly / how to do it. If we think of the high risk props, anyone with instant funding would be on my red list. These are the easiest legally to pursue.
any one heard of

https://thelegendstrading.com/

they got 80% off, tradovate, eod drawdown. payout policy same as what apex had before. they have 10 accounts max.
Love Cars & Money !
Quoting procrude
any one heard of https://thelegendstrading.com/ they got 80% off, tradovate, eod drawdown. payout policy same as what apex had before. they have 10 accounts max.
Nope

Based out of Commiefornia.

Ironically, they are located right next to a real finance broker.

AND, if it doesn't work out everyone can head over to "Inner Power Yoga" to let all that pain out
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Pride always comes before destruction.... -Proverbs 16:18
Remember when finance firms all wanted fancy names like stratton oakmont and goldman sachs. Now we are GOATFunding, Tradify, Legends, Aqua, Barbie and spice girls all together.
Quoting Expo33
{quote} Nope Based out of Commiefornia. Ironically, they are located right next to a real finance broker. AND, if it doesn't work out everyone can head over to "Inner Power Yoga" to let all that pain out {image}
I wont trust them.
Love Cars & Money !
Quoting procrude
{quote} I wont trust them.
Well I don't know anything about them but I think their website is sexy
Pride always comes before destruction.... -Proverbs 16:18
What a lovely crash on gold..... i was on the wrong side last time had huge DLL's all over the board last week.....

Learnt from lesson took shorts and ate my breadcrumbs......

Could have been done for the day if i held but happy with the result... as i am always nervous seller and confident buyer......

50% target done sniffing for a retracement
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Extreme gut feeling trader
Quoting montygoldy
What a lovely crash on gold..... i was on the wrong side last time had huge DLL's all over the board last week..... Learnt from lesson took shorts and ate my breadcrumbs...... Could have been done for the day if i held but happy with the result... as i am always nervous seller and confident buyer...... 50% target done sniffing for a retracement {image} {image} {image}
My Kind of Trades
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Trapex raising eyebrows again. In their new 'promo' activation jumps from 85 to 125 ?!?
Quoting fx_rookie
Trapex raising eyebrows again. In their new 'promo' activation jumps from 85 to 125 ?!?
At one sec i was about to purchase 20 evals with 90% off then i saw that activation fees BUMP and immediately destroyed the apex browser tab as well from the browser history..... Now they are on a BS mode.....
Extreme gut feeling trader
Quoting Takisd
{quote} ... If someone start to drag feet i just ditch the account and send note to authorities without any conversation with the firm.
Nice. A commercial lien as well?
Quoting FocusWinReal
{quote} Nice. A commercial lien as well?
no, my goal would be just for regulator to have a complaint on record. So instead of stupid case like CFTC v MFF where there is no complaint, at least this time there is complaint.
Quoting Takisd
{quote} no, my goal would be just for regulator to have a complaint on record. So instead of stupid case like CFTC v MFF where there is no complaint, at least this time there is complaint.
Right. Fair point. I guess contractors who need the money could go after their money though.
Did a little more research on The Legends Trading. Turns out that the CEO of GFE Brokers also owns The Legends Trading. Here is the link on forbes:

https://councils.forbes.com/profile/...b-b25e5229376c

GFE Brokers is registered with National Futures Association (NFA) and US Commodity Futures Trading Commission (CFTC).

I will keep these guys on Radar for now.
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Love Cars & Money !
Quoting procrude
Did a little more research on The Legends Trading. Turns out that the CEO of GFE Brokers also owns The Legends Trading. Here is the link on forbes: https://councils.forbes.com/profile/...b-b25e5229376c GFE Brokers is registered with National Futures Association (NFA) and US Commodity Futures Trading Commission (CFTC). I will keep these guys on Radar for now. {image}
Yes, they go on the way, way, way back burner.

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Quoting FocusWinReal
{quote} Right. Fair point. I guess contractors who need the money could go after their money though.
It is too expensive to go after it properly. Only way to try to get it back is make the complaint directly to the company, if they reply poorly, go to social media and hope.
Quoting procrude
Did a little more research on The Legends Trading. Turns out that the CEO of GFE Brokers also owns The Legends Trading. Here is the link on forbes: https://councils.forbes.com/profile/...b-b25e5229376c GFE Brokers is registered with National Futures Association (NFA) and US Commodity Futures Trading Commission (CFTC). I will keep these guys on Radar for now. {image}
I had a looooong time ago a futures account with Globalfutures , I have been in contact with Greg in that time , never had any issues, top notch customer service


“May 26, 2017

A Letter from Greg Khojikian, founder and CEO of Global Futures & Forex (GFF Brokers)
You may have heard the news: Global Futures has been acquired by GFF Brokers.
As a former principal of Global Futures, I’ve spent the past 17 years ensuring excellence in brokerage solutions backed by exceptional customer service for traders. So, when the opportunity to acquire Global Futures presented itself, I could not pass up the opportunity.
I embraced the company under a new name, keeping the majority of the seasoned and dedicated team from Global Futures that has served you over the years. The GFF Brokers team members will continue in their roles providing strong continuity of service and support for futures traders like you.”

can’t copy/paste the address link , strange……..it is on the website of GFFbrokers
For those looking at trading with e8 accounts, if you are only planning to trade indicies use commission free. The cost is cheaper than the raw + comm account.
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