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Anyone trading with a Prop firm 31 replies

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

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  • #2,941
  • Aug 17, 2021 5:52am Aug 17, 2021 5:52am
it is back.

the outage is roughly 20 min
Intraday only.
  • #2,942
  • Aug 17, 2021 6:00am Aug 17, 2021 6:00am
On a side note, Fidelcrest has a $400k Profx normal challenge for €1499.

Conditions are somewhat similar to the others but they apparently provide a 40% profit split during verification phase.

Anyone taken the plunge with this firm ?

Feedback appreciated.

Masterrmind ........
Master your Mind then Master your Trades
  • #2,943
  • Aug 17, 2021 6:01am Aug 17, 2021 6:01am
Quoting navk
it is back. the outage is roughly 20 min
Nice to know it was only temporary.

Masterrmind ............
Master your Mind then Master your Trades
  • #2,944
  • Aug 17, 2021 6:35am Aug 17, 2021 6:35am
Quoting thetrendride
It seems that in all these firms you have to make some kind of payment to "test" your skills. That creates a conflict of interest, plus I don't see any point in having to pay to work. Does anyone know of a normal firm that does not require any payment?
Yes you have to pay to play.

As for a conflict of interest ... depends how you view it.

The rewards are there if you're good enough.

Always consider the entry fee as risk capital, potentially gone !

Now having accepted the above you can settle down and really approach your trading in the Prop Firm space in the right frame of mind.

Have you checked out all the links in Post 1 ?

Good trading,

Masterrmind ...........
Master your Mind then Master your Trades
  • #2,945
  • Aug 17, 2021 7:06am Aug 17, 2021 7:06am
Lots of fees must be taken off from the table by prop funds
Allergic to bullshitters, never argue with fools
  • #2,946
  • Aug 17, 2021 7:12am Aug 17, 2021 7:12am
Rules seem to made up as they go along.

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Trade with confidence, trade without fear.
  • #2,947
  • Aug 17, 2021 8:13am Aug 17, 2021 8:13am
Quoting Masterrmind
On a side note, Fidelcrest has a $400k Profx normal challenge for €1499. Conditions are somewhat similar to the others but they apparently provide a 40% profit split during verification phase. Anyone taken the plunge with this firm ? Feedback appreciated. Masterrmind ........
HI MM - been a while - I did a test with them (I failed BTW). I passed the first phase trading mainly indices and some small FX trades. When you get to the next phase they didn't allow indices and averaged the FX trades so I was trying to pass trading .01 lots (was never going to make it on that).

Read the TOU carefully is my advice.

cheers
maahome
  • #2,948
  • Aug 17, 2021 8:34am Aug 17, 2021 8:34am
Quoting maahome
{quote} HI MM - been a while - I did a test with them (I failed BTW). I passed the first phase trading mainly indices and some small FX trades. When you get to the next phase they didn't allow indices and averaged the FX trades so I was trying to pass trading .01 lots (was never going to make it on that). Read the TOU carefully is my advice. cheers maahome
If I recall well they also got a 10 seconds rule on all trades.
  • #2,949
  • Aug 17, 2021 10:22am Aug 17, 2021 10:22am
Quoting thetrendride
It seems that in all these firms you have to make some kind of payment to "test" your skills. That creates a conflict of interest, plus I don't see any point in having to pay to work. Does anyone know of a normal firm that does not require any payment?
Interesting first post questioning the prop firm payment model. PaulMF is also from Spain. The plot thickens.

Professional poker players pay an entry fee to work as tournament professionals. Then the prize money is paid from the entry fees. Is that a conflict of interest?

But then again with each successive "me" generation, it stands to reason that I should be able to risk someone else's money with no risk to my own capital. In fact, I think I should be able to buy 1000 shares of Amazon stock for a total of ZERO DOLLARS. Then, if it goes up I get all the profits but if it goes down I lose nothing. Seems reasonable right?
Pride always comes before destruction.... -Proverbs 16:18
  • #2,950
  • Aug 17, 2021 10:54am Aug 17, 2021 10:54am
Quoting Expo33
{quote} Interesting first post questioning the prop firm payment model. PaulMF is also from Spain. The plot thickens. Professional poker players pay an entry fee to work as tournament professionals. Then the prize money is paid from the entry fees. Is that a conflict of interest? But then again with each successive "me" generation, it stands to reason that I should be able to risk someone else's money with no risk to my own capital. In fact, I think I should be able to buy 1000 shares of Amazon stock for a total of ZERO DOLLARS. Then, if it goes...

I miss paul, my daily dose of mental gymnastics is lacking these days.
  • #2,951
  • Aug 17, 2021 11:01am Aug 17, 2021 11:01am
Quoting EnoFX
FT CEO in action: https://mobile.twitter.com/its__Kia/...48280472702978
Lol Wait a friggin second.

Did Jessica actually just try to stunt on critics with a blurred picture of her Bumbum? haha
what kind of company is this? What has her cuckold of a husband got to say about this?

Rock On Jess!!!!!! Rock On!!!!!
I don't think the haters get the message yet..... Get in there Josie!!!
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  • #2,952
  • Aug 17, 2021 11:44am Aug 17, 2021 11:44am
Quoting Koop
{quote} Lol Wait a friggin second. Did Jessica actually just try to stunt on critics with a blurred picture of her Bumbum? haha what kind of company is this? What has her cuckold of a husband got to say about this? Rock On Jess!!!!!! Rock On!!!!! I don't think the haters get the message yet..... Get in there Josie!!! {image}

I don't shame womens image, but there is a time and a place............ seriously that one irked me the most, more than the threats and the flexing. The nude one says girlfriend has some serious mental issues. Never is that a thing to do as the CEO of a company.
  • #2,953
  • Aug 17, 2021 11:58am Aug 17, 2021 11:58am
Quoting Takisd
{quote} I don't shame womens image, but there is a time and a place............ seriously that one irked me the most, more than the threats and the flexing. The nude one says girlfriend has some serious mental issues. Never is that a thing to do as the CEO of a company.
Lol I swear it's beyond unprofessional and shameful. Serious insecurity issues.
Definitely not fit to make financial decisions, let alone run a company.
Still can't believe she did that lmao
  • #2,954
  • Aug 17, 2021 12:18pm Aug 17, 2021 12:18pm
Quoting Koop
{quote} Lol I swear it's beyond unprofessional and shameful. Serious insecurity issues. Definitely not fit to make financial decisions, let alone run a company. Still can't believe she did that lmao
I think Funding Talent needs to hire a director of Spiritual Enlightenment.

Here's the leading candidate so far.
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PS. Sorry to Mastermind for helping this thread go off the rails temporarily.
Pride always comes before destruction.... -Proverbs 16:18
  • #2,955
  • Aug 17, 2021 12:20pm Aug 17, 2021 12:20pm
Quoting Expo33
{quote} I think Funding Talent needs to hire a director of Spiritual Enlightenment. Here's the leading candidate so far. {image} PS. Sorry to Mastermind for helping this thread go off the rails temporarily.
please dont share my selfies on social media.
  • #2,956
  • Aug 17, 2021 3:28pm Aug 17, 2021 3:28pm
Quoting Koop
{quote} Lol Wait a friggin second. Did Jessica actually just try to stunt on critics with a blurred picture of her Bumbum? haha what kind of company is this? What has her cuckold of a husband got to say about this? Rock On Jess!!!!!! Rock On!!!!! I don't think the haters get the message yet..... Get in there Josie!!! {image}

Was reading the affiliates trying to fight off the negative reviews of FT on trustpilot... (pretty obvious) and it reminded me of the above popcorn post you did .... Ravenously chomping at the popcorn is exactly how i feel right now lol .
  • #2,957
  • Aug 17, 2021 3:40pm Aug 17, 2021 3:40pm
The latest email from Funding Talent with all of the glorious updates/changes/news etc.


To Our Loyal Members,

Two years ago, I was a trader just like you. I chased the highs and battled the lows that come with participating in this thrilling space. And just like you, I shared the same frustrations with finding a trustworthy and reliable firm that would allow me to learn and succeed.

I set out with the mission of creating a prop firm that was truly built for traders. And while I’m incredibly proud that our early success has crowned us as the fastest-growing prop firm in the world, I also understand that lately, we have been falling short.

At Funding Talent, we are keenly aware that our industry position solely relies on our ability to provide a fantastic product and exceptional service to traders like you. As we continue to grow at a rapid pace, we have received feedback from many of you. We want you to know that we see you, we hear you, and we are listening.

Our fast growth has led us to making fast decisions, and these fast decisions have led us to making mistakes. We are deeply sorry. Our promise to you is to always do everything we can to give you the best experience possible.

We apologize sincerely for the inconveniences we caused over the last few weeks. This has been a critical period of learning for us, and we have taken your feedback extremely seriously.

Below are some very important updates regarding our program, and how we are seeking to address the issues you have brought to our attention.


CUSTOMER SERVICE

We understand that our customer service has not been what you deserve. Delayed response times and the inability to have your inquiries addressed is not acceptable.


We have recently added 25 agents to our support team, and are working to fill 15 more support roles in the immediate term.


We have also recently hired senior support staff to ensure we are carefully forecasting how the size of our support team will need to scale in accordance with welcoming new traders to Funding Talent, ensuring the number of support agents appropriately matches our number of members.


Our next phase of hires will include expanding our social media team, ensuring that we are able to communicate with and support you through your preferred mediums at a much more timely rate.


At present, the fastest way to have your queries addressed is to email our support team at [email protected].


We humbly ask for your continued patience as our new staff are onboarded and trained, and hope you will continue to be vocal about your customer service experience so we can continuously assess if we are meeting your expectations, and quickly pivot if we are not.



IMPROVED COMMUNICATION


We recognize that our recent and rapid growth has resulted in us making many program adjustments, and that these adjustments can be incredibly frustrating for our members.

We have carefully analyzed your feedback, and starting today, we are committed to keeping future program adjustments at an absolute minimum, unless they undoubtedly positively impact the member experience.

Moving forward, we will more carefully time our product updates and announcements, ensuring you can rely on us to deliver a program that you know and trust.


INDICES AND CRYPTO

As of August 15, indices are once again available and can be found in your MT4 terminal.


Our announcement on the return of our crypto offering will be made on August 30.



SPREADS AND COMMISSIONS


You have likely noticed there have been recent changes in our spreads and commissions.

The spreads and commissions on our server are designed to provide a realistic look at the market and mirror a live trading experience.

We recognize many of you joined us because our position on spreads and commissions is attractive, and therefore our goal is to keep them as low as possible while also rewarding trades that could be executed in a real environment.

Spreads and commissions may continue to be slightly adjusted throughout the next few weeks as we seek to find the right balance for our members for the long-term. This will include commissions being added on Forex pairs, which will begin later this week.


PAYOUTS

We have listened carefully to your feedback regarding payouts, and want to create a better system for you that allows for faster payouts, less confusion and less stress.


Effective immediately, the 50% payout requirement and 14-day rule are removed for all members.


As our company has grown, the existing bi-weekly payout system has left us incredibly understaffed due to the number of Elite members we now have active. This was a great system when we were a smaller company, but now it leaves us with longer response times and added confusion for our community.


For this reason, we will begin offering payouts 30 days after the first trade is placed on the Elite account. While we understand that some of our members may prefer our previous bi-weekly payout system, this was a necessary change due to the incredible number of members we have welcomed in the recent months.


We are confident that pivoting from a 14 to 30 day system will ensure a much smoother process and will allow you to begin trading the account when you are ready.



THE FUTURE AT FUNDING TALENT


We are pleased to conclude this letter with some exciting news for our members.

As we’ve been listening to your feedback, we have been working hard behind the scenes to ensure we continue to grow and innovate to offer you the types of programs and services you desire.

After a careful analysis of our business, not only have we addressed the items highlighted above, we have also begun hiring new roles to scale our business and operations team. This will result in stronger offerings, better service, and an increasingly professional and trusted experience for you.

In addition to our growing team, we are excited to announce growth in our member offerings :


FAST PASS OPTION


On August 15th, Funding Talent Elite and Challenge members are now eligible for a one-time Fast Pass fee, should a drawdown violation occur on their account.

The Fast Pass provides traders the ability to reset their account at a 25% discounted rate, without having to completely retake their challenge.

The Fast Pass can be used with any Elite account or Challenge account, regardless of the creation date, as long as the account has not incurred a max loss violation prior to August 15th.

Members can use their Fast Pass by contacting support at [email protected].


90% PROFIT SPLIT


In addition to the Fast Past option, we have now made the 90% profit split available to all Elite members for their first $10,000 earned. This is a program improvement that will automatically be applied to all member accounts.


PROHIBITED STRATEGY CLARITY


We are working hard on a prohibited trading strategies document to share later this week. This will clearly outline which trading strategies are prohibited in our program including a better explanation of recommended hold times.


FUNDING TALENT BLITZ


Within the next month, we will be launching a new program, unlike anything else on the market. It’s a completely unique approach where there are no drawdown or trading rules, same day payouts, no evaluations, and unlimited opportunities. This program will suit all traders and trading styles.

As a thank you to our members, we will be giving away 100 free accounts when this program launches. If you're interested, tag us on social media and tell us why you trade and why you'd like to try out our new program using the hashtag #FundingTalentBlitz.


In closing, I would personally like to thank you again for your support, and for your incredible patience with us as we rapidly grow our business to keep up with the strong demand.

While we certainly have not been perfect, we are learning, and we are committed to continuing to keep you, our members, at the heart of our business and in the forefront of all our decision-making.

We look forward to continuing to navigate this exciting space with you, and to earning your trust as the industry’s leading firm.

Sincerely,
Jessica "Twitter Cheeks" Ghaney
Pride always comes before destruction.... -Proverbs 16:18
  • #2,958
  • Aug 17, 2021 4:01pm Aug 17, 2021 4:01pm
Quoting Expo33
The latest email from Funding Talent with all of the glorious updates/changes/news etc. To Our Loyal Members, Two years ago, I was a trader just like you. I chased the highs and battled the lows that come with participating in this thrilling space. And just like you, I shared the same frustrations with finding a trustworthy and reliable firm that would allow me to learn and succeed. I set out with the mission of creating a prop firm that was truly built for traders. And while I’m incredibly proud that our early success has crowned us as the fastest-growing...

SMH.

These clowns are removing all the features that made people sign up in the first place.
No more Bi-weekly payments? I already predicted this but still......

SMH.
  • #2,959
  • Aug 17, 2021 5:38pm Aug 17, 2021 5:38pm
How the living f... are you going to keep up with things if you do same day payouts.. .seriously... WHOS brain dead idea was that...

If someone can actually pull that off, without going broke, great. But something tells me one hit wonders are going to have an absolute field day with such a program unless it is riddled with rules such as lot size and stuff.

"you can get paid only if you trade 0.01 lots per trade on that day"... Beggars can't be choosers.
  • #2,960
  • Aug 17, 2021 5:56pm Aug 17, 2021 5:56pm
Quoting Takisd
How the living f... are you going to keep up with things if you do same day payouts.. .seriously... WHOS brain dead idea was that... If someone can actually pull that off, without going broke, great. But something tells me one hit wonders are going to have an absolute field day with such a program unless it is riddled with rules such as lot size and stuff. "you can get paid only if you trade 0.01 lots per trade on that day"... Beggars can't be choosers.
They think it's all about introducing new flashy things only to get confused and overwhelmed later on and start announcing new changes every day.
It sounds like their own version of the Direct funding offer. Won't hold my breath.
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