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  • #5,161
  • Jun 5, 3:46pm (46 hr ago) Jun 5, 3:46pm (46 hr ago)
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  • #5,162
  • Jun 5, 3:52pm (46 hr ago) Jun 5, 3:52pm (46 hr ago)
Quoting Wakuiz
I have been trading for 18 years and first time trying out prop firm.... I passed phase 1 and 2 in 5 days, but until now they haven't get back to me about me successfully completed phase 2 and reading all the negative reviews kinda make me take a pinch of salt with this prop firm. So here I am trying to search for my positive reviews then I realize that trust pilot and many other positive comments appears to be internal job. well, I will see and update my honest review here.
Which firm are you talking about?
  • #5,163
  • Jun 6, 2:33am (35 hr ago) Jun 6, 2:33am (35 hr ago)
Quoting AK.47
{quote} I've been in their discord server since the last 3 days aswell and there's been a LOT of disputes. With people complaining about profits being deducted from their accounts due to "gambling" and the 50$ price disparity that happened on gold a few days ago as someone mentioned above. I do think about 75% of the people who're screaming about the "gambling" issue, when asked for their PnL and looking at it, I would 100% classify it as gambling. But I also understand that some people have a VERY high RR strategy (sniper entries) that makes them...
I agree with you. If they want to be transparent, they should state the exact RR or lot size rules upfront. Deducting profits automatically without warning only creates disputes like the ones you saw in Discord.

Appreciate you being the live example. Keep us updated.
  • #5,164
  • Jun 6, 4:52am (33 hr ago) Jun 6, 4:52am (33 hr ago)
Quoting Bushramujhta
{quote} I agree with you. If they want to be transparent, they should state the exact RR or lot size rules upfront. Deducting profits automatically without warning only creates disputes like the ones you saw in Discord. Appreciate you being the live example. Keep us updated.
YUP! There are however people since day before posting about the payouts and how quick they are ( it's not a scam or a ploy but hola, I know 2 of the people who posted ).

Absolutely, don't even mention it. It's the least I can do after everything everyone on this thread has done for the community
  • #5,165
  • Jun 6, 4:55pm (21 hr ago) Jun 6, 4:55pm (21 hr ago)
Quoting AK.47
{quote} If you haven't done your KYC interview, then you cannot. So usually the first timers payout, they DO block your account. And it was SO FRUSTRATING for me. For 7 trading days ( also because the earliest interview was scheduled 5 days from the mail, and the mail take over a day to be sent ) They had me on lock down. But after you're done with the KYC interview, they let you trade ( Which is the state where I'm at currently, just for clarity purpose ). And the good thing ( if you want to consider it that way depending on the system ) is that...
So sorry. I have just now confirmed that a very small % of people have to do a KYC interview, on ANY propfirm. Not just 5ers. However, 5ers recently has had a substantial influx of customers, which is why the delay is marginalized and so is the KYC interview %

And also My dumbass didn't properly answer your question.

Yes. You CAN trade during those 5-8 business days. But if you need to have a KYC interview, then they put your payout AND account on "hold" which results in you not being able to open positions. That's what happened to me, and I by no means represent the dozens of other way people trade and 100s if not thousands of traders.

I was too eager to tell you my experience, and it has now come to my knowledge that what I had to go through is very rare. It's more common now than before, but still very rare. Which is why you were right to question me if they do beyond just the documents but I was short-sighted like a horse, my bad.

Next up will be Hola prime's payout journey and review, if these stupid fucks open the airspace in the middle east so I can get my documents
  • #5,166
  • Jun 7, 4:33am (9 hr ago) Jun 7, 4:33am (9 hr ago)
Hola Prime requires a mandatory KYC verification interview before processing our first payout.
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  • #5,167
  • Jun 7, 5:51am (8 hr ago) Jun 7, 5:51am (8 hr ago)
Quoting AK.47
Hola Prime requires a mandatory KYC verification interview

That alone should be enough to warn people off. KYC regulations (however well regulated they are - and Hola isn’t regulated at all) do NOT require “interviews”. This is just nonsense.
Victoria Chenevix (philosophy student, mathematical logician, MES trader)
  • #5,168
  • Jun 7, 6:05am (8 hr ago) Jun 7, 6:05am (8 hr ago)
Quoting Victoria.C
{quote} That alone should be enough to warn people off. KYC regulations (however well regulated they are - and Hola isn’t regulated at all) do NOT require “interviews”. This is just nonsense.
Hmm, I see. I understand where you're coming from and saying, but wouldn't one as as a company want to know the criminal record of an employee, that's the kinda way how I see it with these interviews. If you have nothing to hide, then you have nothing to fear.

Anyways, as I said, I've already "wasted" my time and hard earned money on getting funded. So might aswell be a live example and be useful to the people who view this thread.
  • #5,169
  • Jun 7, 6:43am (7 hr ago) Jun 7, 6:43am (7 hr ago)
Quoting AK.47
wouldn't one as as a company want to know the criminal record of an employee

The traders Hola "funds" (or pretends to) are not employees.


Quoting AK.47
that's the kinda way how I see it with these interviews

Your point addresses the issue of whether KYC is a good thing or a bad thing. Obviously it’s a good thing. Nobody’s disputing that.

But that’s not what we’re discussing. The point here is that it’s possible for companies (regulated or not) to comply fully with any/all the world’s KYC regulations without requiring interviews.

The only purpose or benefit of interviews is directly or indirectly to aid the firm’s marketing. In my opinion, Hola requiring KYC interviews fits in well with their other marketing "techniques" such as approaching people and offering them payments for favorable reviews in forums and on other websites which potential customers are likely to read.

We can all fairly easily decide for ourselves whether this is the sort of company with which we’d choose to do business, if we know the facts.
Victoria Chenevix (philosophy student, mathematical logician, MES trader)
  • #5,170
  • Jun 7, 7:25am (7 hr ago) Jun 7, 7:25am (7 hr ago)
Quoting Victoria.C
{quote} The traders Hola "funds" (or pretends to) are not employees. {quote} Your point addresses the issue of whether KYC is a good thing or a bad thing. Obviously it’s a good thing. Nobody’s disputing that. But that’s not what we’re discussing. The point here is that it’s possible for companies (regulated or not) to comply fully with any/all the world’s KYC regulations without requiring interviews. The only purpose or benefit of interviews is directly or indirectly to aid the firm’s marketing. In my opinion, Hola requiring KYC interviews fits...
You're right. The employee example wasn't stated properly. I see. Aren't KYC interviews not to be published without consent?

Again, I'm still new to the whole prop space, as you can tell by my account creation for FF. I don't know how much you or the others in the thread will trust me, but I by no means am paid and will give a completely non-biased review of what's happening in their space, discord server, payouts, gambling issues, slippage issues, all of that.

You can absolutely do that and decide for yourselves. That's the purpose of this thread I'm sure, and I just want to be a little more useful with the time on my hands now that it's summer. My review would either solidify as to why one wouldn't want to trade with hola, or give them a little glimmer of hope if they so wish to see it that way by the time I hopefully get a payout.

Just to be clear, I'm not here to do them good, nor am I here to do them bad. Just doing what's right.
  • #5,171
  • Jun 7, 8:09am (6 hr ago) Jun 7, 8:09am (6 hr ago)
Quoting AK.47
{quote} You're right. The employee example wasn't stated properly. I see. Aren't KYC interviews not to be published without consent? Again, I'm still new to the whole prop space, as you can tell by my account creation for FF. I don't know how much you or the others in the thread will trust me, but I by no means am paid and will give a completely non-biased review of what's happening in their space, discord server, payouts, gambling issues, slippage issues, all of that. You can absolutely do that and decide for yourselves. That's the purpose of this...
Debating with anti-prop folks in a PROP FIRM THREAD is a waste of your energy....best not to engage.
  • #5,172
  • Jun 7, 8:44am (5 hr ago) Jun 7, 8:44am (5 hr ago)
Quoting pipmaster77
{quote} Debating with anti-prop folks in a PROP FIRM THREAD is a waste of your energy....best not to engage.
Oh shi mb I didn't realize she wasn't in it for the greater good. I don't know the history of most people on this thread apart from you, expo and stoneyrocks.

I just thought that you had the question about KYC, so figured it was a genuine concern.

And honestly she meant no harm, she's right to question the interviews since it's not an industry standard I reckon?
  • #5,173
  • Jun 7, 10:26am (4 hr ago) Jun 7, 10:26am (4 hr ago)
Quoting Victoria.C
{quote} The traders Hola "funds" (or pretends to) are not employees. {quote} Your point addresses the issue of whether KYC is a good thing or a bad thing. Obviously it’s a good thing. Nobody’s disputing that. But that’s not what we’re discussing. The point here is that it’s possible for companies (regulated or not) to comply fully with any/all the world’s KYC regulations without requiring interviews. The only purpose or benefit of interviews is directly or indirectly to aid the firm’s marketing. In my opinion, Hola requiring KYC interviews fits...
I refuse to use any prop that requires an interview for any thing.
Pride always comes before destruction.... -Proverbs 16:18
  • #5,174
  • Jun 7, 10:31am (4 hr ago) Jun 7, 10:31am (4 hr ago)
Quoting Expo33
{quote} I refuse to use any prop that requires an interview for any thing.
Completely understandable. May I ask your reasoning why tho gang? Do you believe it's because directly or indirectly it's one of their marketing stunts, or if that's just a big NO for you regardless
  • #5,175
  • Jun 7, 10:39am (3 hr ago) Jun 7, 10:39am (3 hr ago)
Quoting Expo33
{quote} I refuse to use any prop that requires an interview for any thing.

Same here. It's just backdoor marketing and totally unnecessary.


Quoting AK.47
{quote} I just thought that you had the question about KYC, so figured it was a genuine concern.

It is.

Don’t worry, AK: Pipmaster has evidently mistaken me for someone else (not for the first time, actually!).

I’m not anti-prop-firm in the slightest. On, the contrary - I’m an enthusiast, currently funded by two of them and haven’t traded my own funds at all since last year.

I’m sometimes outspokenly anti-scammers, anti-fraudsters and anti-misinformation, though (and there’s no shortage of that in this forum, I think we can all agree?).
Victoria Chenevix (philosophy student, mathematical logician, MES trader)
  • #5,176
  • Edited 11:05am Jun 7, 10:39am (3 hr ago) | Edited 11:05am
Also could anyone who's prominently been on discord servers of various props, or just your prop, tell me about fake payouts?

Specially with the ones like Hola that have a verified payout channel where you can scan the QR code in the payout's screenshot and it shows you the trader's name it was awarded to.

I'm asking because recently, there's been 2 people who've impersonated someone else's payout ( one of them being a guy I know ) and 1 other guy whose QR code is not scannable ( Guess it's according to the person's consent, will update once I reach the payout stage ).

My issue being that even with repeated attention brought to the mods/supervisors, they've rather deleted MY OWN TEXTS ( granted it's for keeping the payout channel only for the payouts, but still delete my texts AFTER you've deleted the fake payouts maybe? ) rather than the blatantly false payouts.
It's crazy but I do think it's just people impersonating for others to DM them for signals or such and then scam the innocent.

HOWEVER, not doing anything about it and thinking that deleting the person's message who has brought this to attention is the right thing rather than just deleting the payout, not even banning the guy, just deleting the payout? That's pathetic and suspicious to me.

Keep in mind the false payouts have been posted for days. Not just hours.
  • #5,177
  • Last Post: Jun 7, 10:46am (3 hr ago) Jun 7, 10:46am (3 hr ago)
Quoting Victoria.C
{quote} Same here. It's just backdoor marketing and totally unnecessary. {quote} It is. Don’t worry, AK: Pipmaster has evidently mistaken me for someone else (not for the first time, actually!). I’m not anti-prop-firm in the slightest. On, the contrary - I’m an enthusiast, currently funded by two of them and haven’t traded my own funds at all since last year. I’m sometimes outspokenly anti-scammers, anti-fraudsters and anti-misinformation, though (and there’s no shortage of that in this forum, I think we can all agree?).
Victoria I have no idea how you individually quote and reply, but I see your point about it being unnecessary. I don't know about totally. Lemme speak from experience yea, I bought my first ever funded, and passed it and then even got a payout. I requested the payout all in about a month's time. Granted the payout took well over the 5-8 business days due to scheduling an interview and then waiting for the risk management team to go through it aswell. My point being that, not trying to suck my own dick but, Most people don't even get funded, and then if they do, most can't get a payout ( I requested 5% ). Considering I was new, I think a KYC interview is just what it is to me at that stage.

Then again you can bring up the case of that This could've been my 100th prop firm challenge, but the first ever 5ers one. They definitely don't know that so it just calls for precaution maybe? I was also trading Asia and London, with a few trades in NY so I guess you can easily mistaken me for an automated system.

Glad to have you

yess, that's what I thought too Cause I researched your account, and then edited my texts knowing you're legit! We do need more of anti-scammers and anti-misinformation, which is where I hope all of you can consider me
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