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  • #2,121
  • Jul 8, 2021 12:14am Jul 8, 2021 12:14am
Quoting Expo33
Sponsored FTMO ads now popping up on my Facebook feed every day. New "swing" trading thingy, FB ads, seems FTMO is losing market share. Nice try marketing department. Pandora's box is wide open, good luck trying to stay on top.
I see things in the Prop space as really warming up over the next few months.

Masterrmind ........
Master your Mind then Master your Trades
  • #2,122
  • Jul 8, 2021 12:36am Jul 8, 2021 12:36am
Quoting Masterrmind
A great hypothetical exercise is to design a Prop Firm the way most of us would want. That may not be realistic though because most traders would opt for a very low entry fee, higher DD limits and trade however they wish. Would this approach be sustainable for a cash starved retail Prop Firm ? The new Prop Firm needs capital and the more the better, the less they have the more likely they are to start offering totally unsustainable offerings to the general trader. In any case, I think a pricing model and a list of trading objectives/rules would...
Here's my 2 cents worth.


One Step, Two In One Evaluation Program
For a 100K Funded account..............$350 US$ Fee.
A Stop-loss is required on all positions and orders.
Maximum 1.5% accumulated Stop Loss
Leverage for all accounts - 1:30.
PIP Target 400
Maximum Accumulative Stop Loss 1.5%

For completing the challenges, both the $$ target and the PIP target must be met.
This is to encourage consistency.
Holding open trades over the weekend is allowed.
Accounts without activity for more than 21 days will be closed.

NO Daily loss limit rule
NO weekly loss rule
NO trailing loss rule
NO relative DD rule
NO trading time restrictions
NO news trading restrictions
Maximum 1.5% accumulated Stop Loss
90 days to reach 8% profit

70% win rate.
Free reset, If you fail to pass the evaluation, with a +70% win rate.

Performance
Achieve the 8% profit target and 400 pip target. Without violating the rules.
Avoid the 5% draw-down allowance.
In order to become eligible for funding, you must be able to achieve performance targets within given risk parameters on a consistent basis.
Evaluation time (30 days min' 90 days max') where you need to prove your trading prowess.
Upon successful completion of the evaluation, you will become eligible for funding in the amount of $100,000 Dollars.
Once funded, You keep 70% of profit generated.
Scale up from there in $10,000 increments. Every time you increase your balance by a further 5k,
we increase your balance by a further 10k. All the way to $1M

Quite frankly from what I have read on this thread I don't think many if any of you have a shit show in hell of lasting more than 6 months if any of you get as far as a funded account at all. Most appear to have a "cowboy" trader state of mind.
Money Makes Money
  • #2,123
  • Jul 8, 2021 12:46am Jul 8, 2021 12:46am
Quoting Masterrmind
{quote} I see things in the Prop space as really warming up over the next few months. Masterrmind ........

Of course it is if this thread is an example of the 'traders' out there in the wild. The 'firms' must see how many gullible people are out there readily willing to cough up cash time after time hunting for pie in the sky. Muny fer nuthin and they're laughing all the way to the bank.

Some of guys really need to wise up and stop wasting your hard earned. Buy lottery tickets instead. You'll have a much better chance.....
He was looking for the card so high and wild hed never need to deal another
  • #2,124
  • Jul 8, 2021 1:08am Jul 8, 2021 1:08am
Quoting KarenJones
Situation all resolved from FTMO
Still only 30 days to get 10%. Encourages rash trading. NOT resolved.
Look Left Trade Right
  • #2,125
  • Jul 8, 2021 4:00am Jul 8, 2021 4:00am
Quoting Expo33
Sponsored FTMO ads now popping up on my Facebook feed every day. New "swing" trading thingy, FB ads, seems FTMO is losing market share. Nice try marketing department. Pandora's box is wide open, good luck trying to stay on top.

LOl No one's taking FTMO's top spot anytime soon Expo.
Just like i was telling Phenotype, it's going to take a lot more than smaller profit targets, bigger drawdowns or longer time limits to overshadow the large history of payment proofs and proven reliability.
This Swing account thing is only going to make it better.

In order of appearance (site visits and engagement rankings) -

FTMO
Funding Talent (surprised. expected MFF to be no.2)
MyForexFunds
5ers
Theproptrading

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  • #2,126
  • Jul 8, 2021 5:31am Jul 8, 2021 5:31am
Quoting Koop
{quote} LOl No one's taking FTMO's top spot anytime soon Expo. Just like i was telling Phenotype, it's going to take a lot more than smaller profit targets, bigger drawdowns or longer time limits to overshadow the large history of payment proofs and proven reliability. This Swing account thing is only going to make it better. In order of appearance (site visits and engagement rankings) - FTMO Funding Talent (surprised. expected MFF to be no.2) MyForexFunds 5ers Theproptrading {image}
people are logging into FTMO every minute to check whether have they revised the price and profit target downward.
  • #2,127
  • Jul 8, 2021 5:33am Jul 8, 2021 5:33am
Quoting KiwiOz
{quote} Here's my 2 cents worth. One Step, Two In One Evaluation Program For a 100K Funded account..............$350 US$ Fee. A Stop-loss is required on all positions and orders. Maximum 1.5% accumulated Stop Loss Leverage for all accounts - 1:30. PIP Target 400 Maximum Accumulative Stop Loss 1.5% For completing the challenges, both the $$ target and the PIP target must be met. This is to encourage consistency. Holding open trades over the weekend is allowed. Accounts without activity for more than 21 days will be closed. NO Daily loss limit rule...
Thanks for your views KiwiOz.

Most traders fail at FX trading in general so it's no surprise that most that get funded will lose the account however, if they've derived enough profit to cover entry fee and a bit extra to cover their time with the Prop Firm then perhaps they have come out on top.

My view is that traders should use profit gained via personal trading to pay for the fee but it's their risk capital so they can do what they like.

The idea of just one max loss limit is a better approach for the trader, less to think about.

Trading through high impact news events would not be something I would want traders to be involved with if I had a Prop Firm, far too risky in my opinion.

Telling traders that they have basically no chance of making it in the retail Prop Firm space is likely to ignite a fire inside their belly and lining up for the next available challenge

Good trading,

Masterrmind ...........
Master your Mind then Master your Trades
  • #2,128
  • Jul 8, 2021 5:45am Jul 8, 2021 5:45am
Quoting dr_who
{quote} Of course it is if this thread is an example of the 'traders' out there in the wild. The 'firms' must see how many gullible people are out there readily willing to cough up cash time after time hunting for pie in the sky. Muny fer nuthin and they're laughing all the way to the bank. Some of guys really need to wise up and stop wasting your hard earned. Buy lottery tickets instead. You'll have a much better chance.....
It's a business for the Prop Firm so of course they want as many 'traders' to play as possible not dissimilar to a casino chasing gamblers and ultimately high rollers.

The fact remains that some traders get funded accounts, keep them for at least a few months and derive enough profit to cover costs and a chunk of dollars to boot.

I know what the chances are of winning the lottery but it doesn't stop me from buying a ticket every so often, since I know someone wins it.

Your view that traders should wise up and buy a lottery ticket instead is nonsense, better odds to get funded than winning the lottery in my view.

Thanks for your post,

Masterrmind .........
Master your Mind then Master your Trades
  • #2,129
  • Jul 8, 2021 5:51am Jul 8, 2021 5:51am
Quoting Koop
{quote} LOl No one's taking FTMO's top spot anytime soon Expo. Just like i was telling Phenotype, it's going to take a lot more than smaller profit targets, bigger drawdowns or longer time limits to overshadow the large history of payment proofs and proven reliability. This Swing account thing is only going to make it better. In order of appearance (site visits and engagement rankings) - FTMO Funding Talent (surprised. expected MFF to be no.2) MyForexFunds 5ers Theproptrading {image}

Just a little while after I posted that this ''competition'' of new companies is going to make things better for the customers, FTMO announced their new ''swing, no news'' model.

  • #2,130
  • Jul 8, 2021 6:01am Jul 8, 2021 6:01am
Quoting Phenotype
{quote} Just a little while after I posted that this ''competition'' of new companies is going to make things better for the customers, FTMO announced their new ''swing, no news'' model.
Lol Okay, i'll give you that win.
  • #2,131
  • Jul 8, 2021 6:19am Jul 8, 2021 6:19am
First post here after being a silent reader for many years. Finally decided to purchase a MFF Evaluation after reading the many good reviews. However I later discovered they have a 2 pips spread for GBP/USD on top of a $3 commission during London hours! How do any of you scalp with this spread?

I checked with them over email that I can request for a refund if I don't like the spread since I have not started trading yet. To my horror, they stopped responding once I requested for a refund! Had to contact my credit card to dispute this transaction and hopefully get my money back. Keeping fingers crossed!
  • #2,132
  • Jul 8, 2021 6:27am Jul 8, 2021 6:27am
Quoting Masterrmind
{quote}Trading through high impact news events would not be something I would want traders to be involved with if I had a Prop Firm, far too risky in my opinion.
Agreed. Aspiring traders/degen gamblers are convinced the path leading to Lambo’s is paved with successful trades without any restrictions. Ultimately it winds up being an expensive lesson for them. “A fool and their money…” as they say.
Trade with confidence, trade without fear.
  • #2,133
  • Jul 8, 2021 6:35am Jul 8, 2021 6:35am
Quoting marzy
First post here after being a silent reader for many years. Finally decided to purchase a MFF Evaluation after reading the many good reviews. However I later discovered they have a 2 pips spread for GBP/USD on top of a $3 commission during London hours! How do any of you scalp with this spread? I checked with them over email that I can request for a refund if I don't like the spread since I have not started trading yet. To my horror, they stopped responding once I requested for a refund! Had to contact my credit card to dispute this transaction...
Not to worry, MFF is a reputable firm from the looks of it. But I am surprised with your spread comment cause I am trading 4 different
firms at the same time and MFF is definitely up there as one of my favorites.
I am trading the Accelerated emphatic option.
Those who don't believe in magic will never find it
  • #2,134
  • Jul 8, 2021 7:10am Jul 8, 2021 7:10am
Quoting PayTheBid
{quote} Not to worry, MFF is a reputable firm from the looks of it. But I am surprised with your spread comment cause I am trading 4 different firms at the same time and MFF is definitely up there as one of my favorites. I am trading the Accelerated emphatic option.
Can I check if you are on their Traders Global Group MT4? I asked them if the 2 pips spread is normal, and their reply is "Yes, unfortunately this is normal for our broker."

In addition, I noticed that the Bid & Ask prices shown in market watch are different from the Bid & Ask prices shown on the chart. I asked them for an explanation and it was radio silence after that.
  • #2,135
  • Jul 8, 2021 7:15am Jul 8, 2021 7:15am
Quoting marzy
First post here after being a silent reader for many years. Finally decided to purchase a MFF Evaluation after reading the many good reviews. However I later discovered they have a 2 pips spread for GBP/USD on top of a $3 commission during London hours! How do any of you scalp with this spread? I checked with them over email that I can request for a refund if I don't like the spread since I have not started trading yet. To my horror, they stopped responding once I requested for a refund! Had to contact my credit card to dispute this transaction...
There is a GBPUSD on the feed that you cannot trade. Scroll down and you will see GBPUSD is 0.1 right now, 90% of time it is 0.1-0.3 during London.
  • #2,136
  • Jul 8, 2021 7:15am Jul 8, 2021 7:15am
Quoting KiwiOz
{quote} Here's my 2 cents worth. One Step, Two In One Evaluation Program For a 100K Funded account..............
Why would you measure win rate or even pips? Neither has anything to do with profitability or quality of the strategy. Win rate can very easy be managed to a ridiculously high number without reflecting the real performance, pip sizes are very different and you can be negative on pips while reaching huge $ profit and other way round. I personally avoid using those measures (together with lots) as they only make confusion.
Money is made by sitting, not trading
  • #2,137
  • Jul 8, 2021 7:22am Jul 8, 2021 7:22am
Quoting pipmaster77
{quote} There is a GBPUSD on the feed that you cannot trade. Scroll down and you will see GBPUSD is 0.1 right now, 90% of time it is 0.1-0.3 during London.
Oh I see that now. Thank You!

Why didn't they tell me that? I suppose it's too late now since I have already raised the transaction dispute request.

Furthermore, I do not appreciate how they were very prompt in their replies up to the point when I requested for a refund. Then they basically stop all communication, even after I gave them a deadline to reply before I contact my credit card company.
  • #2,138
  • Jul 8, 2021 7:29am Jul 8, 2021 7:29am
Quoting marzy
First post here after being a silent reader for many years. Finally decided to purchase a MFF Evaluation after reading the many good reviews. However I later discovered they have a 2 pips spread for GBP/USD on top of a $3 commission during London hours! How do any of you scalp with this spread? I checked with them over email that I can request for a refund if I don't like the spread since I have not started trading yet. To my horror, they stopped responding once I requested for a refund! Had to contact my credit card to dispute this transaction...
Lol is this post real?

Been with MFF a long whiles now, including profit splits. Spread has never been 2 pips on gbp/usd. Also, they always respond even when you have something nasty to say like when my dashboard went down.

MFF are also known for paying refunds to people who request them, in discord alone I've seen it at least 20-30 times. But yeh, fingers crossed your bank pays you your dispute, god forbid they wouldn't, the horror!
  • #2,139
  • Jul 8, 2021 7:45am Jul 8, 2021 7:45am
Quoting Takisd
{quote} Lol is this post real? Been with MFF a long whiles now, including profit splits. Spread has never been 2 pips on gbp/usd. Also, they always respond even when you have something nasty to say like when my dashboard went down. MFF are also known for paying refunds to people who request them, in discord alone I've seen it at least 20-30 times. But yeh, fingers crossed your bank pays you your dispute, god forbid they wouldn't, the horror!
Unfortunately this is my real experience. I'm sorry if my account come across as fake, probably due to my wrong choice of words.

I'm not on discord but I agree with you they always respond and very fast to my earlier emails. That's why I was confident enough to sign up. I also did my part to seek clarification about the abnormal 2 pips spread on GBP/USD, but their reply was this is normal for their broker. They did not dispute that or told me there is a non-tradable GBP/USD pair on their MT4. To make things worse, they basically stop replying once i requested for a refund and that got me worried. To be honest I'm not sure how to proceed now. Will wait to hear from my bank or from MFF if they still bother.
  • #2,140
  • Jul 8, 2021 7:49am Jul 8, 2021 7:49am
Quoting marzy
{quote} Oh I see that now. Thank You! Why didn't they tell me that? I suppose it's too late now since I have already raised the transaction dispute request. Furthermore, I do not appreciate how they were very prompt in their replies up to the point when I requested for a refund. Then they basically stop all communication, even after I gave them a deadline to reply before I contact my credit card company.
Hey everyone,

Sorry to intrude on the thread.

Hi Marzy,

I am not sure who told you that the 2 pip spread is normal, as you can see from the symbol in metatrader that 2 pip spread gbpusd symbol isn’t tradeable. It is there to allow calculation of the CFD’s for settlement as they don’t trade in USD, in this case UK100.
Our GBP/USD spread is normally around the 0.2 area.
We have no problem refunding you, or anyone for that matter should they not wish to continue with us (but haven’t traded their account), as another user said we do process refunds regularly.
I am unsure why your e-mail hasn’t been responded to, so if you could give me some details in private message I can try to sort it out for you and investigate further.

Sincerely,
Yavuz Karadeniz
Team Support Lead
https://www.myforexfunds.com
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