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  • #14,801
  • Apr 9, 2023 8:35pm Apr 9, 2023 8:35pm
Quoting Takisd
{quote} When I was but a wee desk broker for a retail shop I absolutely HATED calling customers. The reason I hated it is 99.9% of them didnt want to be called. The answer I got was almost always "send me an email". Some of the old school folk like the comfort of being able to call a number if shit hits the fan. Its something but just like a live chat system, you can always not answer.
I agree I would not like to deal with customers on a daily basis.
  • #14,802
  • Apr 9, 2023 8:38pm Apr 9, 2023 8:38pm
Quoting AaronPriest
I was evaluating e8funding for my next prop firm and started a demo account tonight because the terms look good. The spreads are INSANE, higher than any other broker I've ever seen, even for a Sunday night. I think it's a glitch. First it was EURGBP, and then it was GBPUSD an hour or two later. I opened some sample trades of 1.2 to 1.6 lots with a stop loss about 2.5 ATR away, and within two minutes blew half the account and got suspended with a whopping -$132,176 trade. I think I'll pass on this prop firm. But I might contact them tomorrow and...
Hi AaronPriest,
Just when I was considering giving them a go to get back in the FX game you share this. Thank you for sharing. Got to wonder about all those high five positive customer comments I've read. Something is truly wrong with what you shared. Keep us update.
  • #14,803
  • Apr 9, 2023 8:54pm Apr 9, 2023 8:54pm
Quoting acetrader
{quote} Hi AaronPriest, Just when I was considering giving them a go to get back in the FX game you share this. Thank you for sharing. Got to wonder about all those high five positive customer comments I've read. Something is truly wrong with what you shared. Keep us update.
To be fair, the spreads he posted were 53 minutes after open on a Sunday, spreads never normalize until 1-2 hours after open, which you can clearly see in the second screenshot after market was open 2 hours. To boot, it is Easter weekend, spread started widening very early on Friday.
I am more concerned about the trader losing $2,500 when trading $4/pip on EURUSD.....must be way more to that story.
  • #14,804
  • Apr 9, 2023 9:12pm Apr 9, 2023 9:12pm
Quoting pipmaster77
{quote} To be fair, the spreads he posted were 53 minutes after open on a Sunday, spreads never normalize until 1-2 hours after open, which you can clearly see in the second screenshot after market was open 2 hours. To boot, it is Easter weekend, spread started widening very early on Friday. I am more concerned about the trader losing $2,500 when trading $4/pip on EURUSD.....must be way more to that story.
Have you ever seen spreads that were 14,331,639 points? I never have on any broker, even on holidays and Sunday night. Especially 61,733 points 2hrs after weekend open on one of the 28 pairs. The USDCHF demo trade two hours after open (which only had an 11 point spread in my screenshot 4 minutes later) opened at 0.90452 and closed two minutes later at 66.4533. I was copying this same trade to 5 other brokers and none of them did this, LOL! It should have been a $320 risk and it slipped to $132,176!!!
  • #14,805
  • Apr 9, 2023 9:44pm Apr 9, 2023 9:44pm
Quoting Cryptosurf
{quote} These prop firms bear some responsibility for the doorknobs they attract. Slick marketing and the enticement of getting rich by accessing their funded programs, is a carrot many a fool falls for. The barrier to enter is open to anyone with little money and experience. Just because you can, doesn’t mean you should. You don’t see these type of morons in futures trading. The barrier to enter is set high. Only in FX and especially in FX prop firms.
Futures prop firms are 100 times more difficult to pass as most of them have trailing unrealized drawdown plus one needs to make 100% of allowed drawdown to even qualify for withdrawal, You can't make 40-50% of total profits in one day plus you can't hold overnight positions. On the top of everything they have monthly fees.
MT4 is way better than ninja trader with rithmic.
  • #14,806
  • Apr 9, 2023 10:45pm Apr 9, 2023 10:45pm
Quoting Takisd
Speaking of entitled doorknobs. The owner of TFT has finally ran out of things to spam us with. So he decided to try to compare his penis with other firms, funny thing about web traffic is that you can "accidently" bot your traffic by advertising in strange places. What no more 99% payouts and 150% bonuses? Just an easter egg hunt and a look at me look at me? Shame I am off chocolate at the moment. {image}
Besides being the most arrogant CEO in the prop Telegram group, Angelo is only good to organize chess and poker tournaments for the community (and now egg hunting competitions).

He posted this traffic s*t in the telegram group for a couple of times. Nobody can take this traffic thing serious when we see Funded Next, one of the worse props around, immediately after TFT in that ranking (yep, Funded Next was 4th, after FTMO, MFF, TFT)

For a lot of time TFT also had The Trading Capital in their benchmarks page as a comparison firm, long after The Trading Capital be known as a scam.

Coming with these dumb things he shows very little managing skills when we all see that their payout process is the worse around, together with TFF.
I don't know if they still have that stupidity of activating funded accounts only on Sunday evenings. That was also another retarded thing from TFT.
  • #14,807
  • Apr 9, 2023 11:12pm Apr 9, 2023 11:12pm
Quoting pipmaster77
{quote} I am funded with MFF,FTMO,TFF and TFTP. If I were starting over today and only going to use one firm it would be MFF. However, when you say you are not wwasting your time with evaluation, I say don't waste your time with instant funding or accelerated (as MFF calls it). Not going to get into detail, search my posts. I have been doing this nearly 3 years, evals/challenges offer the only value to a trader....up to 20x more value than "instant funding"
Thanks PIP, you obviously know what you are talking about.
What I don´t like about the MFF eval, is the scaling, 30% of the "original account", takes ages to grow.
Also hate the 30 day time stress to pass.Feel like it will hamper with my trading decisions.
Accelerated, starting with 10 K, gives me the chance of reaching 540K, reasonably.
5% drawdown is no problem for my Risk Management.
And closing everything on Fridays, is not bad at all, a Black Swan over the weekend, and everybody is breached on Sunday nicht opening.
Btw. did anybody check Stocknet? I have 2 accounts with them, so far, impeccable.
  • #14,808
  • Apr 9, 2023 11:13pm Apr 9, 2023 11:13pm
Quoting pipmaster77
{quote} To be fair, the spreads he posted were 53 minutes after open on a Sunday, spreads never normalize until 1-2 hours after open, which you can clearly see in the second screenshot after market was open 2 hours. To boot, it is Easter weekend, spread started widening very early on Friday. I am more concerned about the trader losing $2,500 when trading $4/pip on EURUSD.....must be way more to that story.
The first answer from e8 is in, I am glad they admit some strange activity and responded quickly:

"Hello.
We wanted to reach out and let you know that we've noticed some strange activity on our charts last night. We understand that this must have been pretty frustrating for you all, and we want you to know that we're on top of it.
While we're investigating, we want to assure you that we'll make sure everything is put right with your accounts. Any trades affected by these glitches will be fairly adjusted.
We apologize for any trouble this may have caused, and we're working hard to get to the bottom of it. Your trust means a lot to us, and we're committed to making this right. If you have any questions or concerns, please feel free to get in touch with our customer support team. They're here to help.
Thanks for sticking with us, and we're looking forward to continuing to serve you.
Best regards,
E8Funding"

So I hope they will restore my account asap.
  • #14,809
  • Apr 10, 2023 12:19am Apr 10, 2023 12:19am
Change of rules in Finotive (I think the aim is to prevent traders from being penalized when they make a mistake and enter the wrong SL but correct it immediately after).

For every trade, the trader must add a stop loss within 60 seconds of the position open time. Any modifications within this initial 60 seconds are immune from the Risk Management Rules, i.e. You have unlimited opportunities within this initial 60 seconds to make sure your stop loss is set to a level which does breach the Responsible Trading Policy.
After this initial 60 seconds, traders have no limit on how many times they may modify a position, but we will only permit one stop loss modification error which breaches the RTP as long as it is rectified within 30 seconds of the error being made. For example, if the trader moves their stop loss to a price which breaches the RTP, they have 30 seconds to amend the mistake and must not make any more mistakes for the remaining duration of this trade.
  • #14,810
  • Apr 10, 2023 2:55am Apr 10, 2023 2:55am
e8 drama. Its not even from bad ticks it looks like someone touched the meta admin and messed up.

This is why kids shouldn't play with matches.
  • #14,811
  • Apr 10, 2023 3:54am Apr 10, 2023 3:54am
Nsak3y if I remember well Traders with Edge you had some issued with them regarding a consistency rule. Was that sorted out ? Is that yet in place ?
  • #14,812
  • Apr 10, 2023 4:50am Apr 10, 2023 4:50am
Quoting cuchuflito
{quote} Thanks PIP, you obviously know what you are talking about. What I don´t like about the MFF eval, is the scaling, 30% of the "original account", takes ages to grow. Also hate the 30 day time stress to pass.Feel like it will hamper with my trading decisions. Accelerated, starting with 10 K, gives me the chance of reaching 540K, reasonably. 5% drawdown is no problem for my Risk Management. And closing everything on Fridays, is not bad at all, a Black Swan over the weekend, and everybody is breached on Sunday nicht opening....
The gauge to use is fee vs. available loss. For $979, you have $24K max loss. On accelerated, for $970, you have $1,000 max loss. It is literally 24x for the same cost.........you'll have to scale beyond your lifetime to catch up. Even when you get to the $540 K, your max loss is $27K, you are just about there after passsing just one 200K eval. You scale by reinvesting your refunded fee at the end of the challenge to secure more funding, just repeat twice and you have 72K max loss.
You must keep in mind, your risk is going to be based on your max loss, not the equity. If you risk 2% per trade, for example, that 2% MUST be on your max loss, if you base it off equity, 2.5 consecutive losses and you have blown the account.
  • #14,813
  • Apr 10, 2023 7:00am Apr 10, 2023 7:00am
Quoting Alesamo
{quote} I am furious right now with E8... Just woke up and saw that I obviously violated the daily drawdown of 2.5k on a 50k account... Before the weekend I had a floating p&l of only about $50 on a 50k account (I am/was at stage 2 of the evaluation), with only about 0.4 lots open. I am trading only EURUSD, and this currency pair did not open with any unusual gap, also, I cannot see any unusual spikes in any direction anywhere (I am using several brokers, none of these show unusual behaviour). I immediately wrote to e8 and demanded an investigation....
They're going to fix it for all affected accounts.
Money is made by sitting, not trading
  • #14,814
  • Apr 10, 2023 8:07am Apr 10, 2023 8:07am
Quoting Capablanca
Nsak3y if I remember well Traders with Edge you had some issued with them regarding a consistency rule. Was that sorted out ? Is that yet in place ?
-They basically said that it wouldn't be a problem, and that they are only concerned with people that are trying to game the system.

I believe that the challenge phases will have consistency requirements so that people do not complete the challenge using one, big trade (then micro lots to finish out the challenge). But I was never concerned about that anyway.

However, if you are funded and you start using lot sizes that are more than 5x the usual amount, then they are fine with that so long as the trading can be copied over (realistic fills that account for slippage).

Here are some excerpts from our email correspondence:

-----------

"In response to your query, I would like to add some clarity regarding our lot exposure restrictions.

For funded accounts, we can remove lot exposure restrictions as long as the trades are proper and there is no malicious intent behind them. We have the rule in place to prevent traders from manipulating the system. However, if your trades are legitimate and in line with our policies, then you do not have to worry about violating this rule."

-----------

"If you use a large lot size and all of your leverage on one trade, then close it with only a small number of pips, we cannot copy that trade effectively under live market conditions. Consequently, it's unreasonable to expect us to pay you for such trades. That being said, we do appreciate trading strategies that involve large lot sizes, short targets, and good R-to-R ratios, as long as they can be easily replicated. However, if you're trading with a $50K account and placing 100 lot trades during news events, it's highly unlikely that we'll be able to copy your trades.

However, even if the lot size exceeds five times the usual amount, we can still permit it if it's not deemed significant enough. We acknowledge that certain traders have demonstrated their proficiency and are aiming to optimize their profits. As long as the fills are realistic and account for slippage, then it is acceptable."
  • #14,815
  • Apr 10, 2023 8:35am Apr 10, 2023 8:35am
Quoting Alesamo
{quote} I am furious right now with E8... Just woke up and saw that I obviously violated the daily drawdown of 2.5k on a 50k account... Before the weekend I had a floating p&l of only about $50 on a 50k account (I am/was at stage 2 of the evaluation), with only about 0.4 lots open. I am trading only EURUSD, and this currency pair did not open with any unusual gap, also, I cannot see any unusual spikes in any direction anywhere (I am using several brokers, none of these show unusual behaviour). I immediately wrote to e8 and demanded an investigation....
TFF had a major server issue as well on the Sunday open. Server was offline for the first hour or so and then when it came back online was frozen. Was frozen for a good 5-6 hours. Weekend holders got raped as a result.

Attached Image (click to enlarge)
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Trade with confidence, trade without fear.
  • #14,816
  • Apr 10, 2023 12:57pm Apr 10, 2023 12:57pm
Latest MFFX poll:
-------------------------------------------------------------------------------------------------------------------------------------------------------------
A lot of you have been requesting indices leverage to increase but do not overlook the fact that indices contracts are 10 and not 1.
Please vote below for your preference

1. Leave as is. 10 contract size 1:20 leverage
2. Change contract size to 1. Increase leverage to 1:50
3. Change contract size to 1. Increase leverage to 1:100
-------------------------------------------------------------------------------------------------------------------------------------------------------------

Note: MFFX currently limits open positions to 40 lots in total for each instrument

It seems the majority votes for option 3 which means MFFX becomes useless for most index traders soon...
Money is made by sitting, not trading
  • #14,817
  • Apr 10, 2023 4:05pm Apr 10, 2023 4:05pm
Attached Image (click to enlarge)
Click to Enlarge Name: aviso Factory.png Size: 50 KB
Be happy, friendly, humble and winner!!
  • #14,818
  • Apr 10, 2023 4:48pm Apr 10, 2023 4:48pm
Quoting Ak386
{image}
So.....MFF, FTMO, TFF. Minus the demo account on MFF and TFF. I think regulation will hinder you more than help you.
  • #14,819
  • Apr 10, 2023 6:39pm Apr 10, 2023 6:39pm
Quoting pipmaster77
{quote} So.....MFF, FTMO, TFF. Minus the demo account on MFF and TFF. I think regulation will hinder you more than help you.
Im thinking he doesn’t know what entails being “registered and regulated” even means either.
Trade with confidence, trade without fear.
  • #14,820
  • Apr 10, 2023 7:21pm Apr 10, 2023 7:21pm
Quoting Ak386
{ideal prop firm}
-I will add my thoughts... I've nothing else to do right now.

1. Good broker That does not cheat, good spread, good liquidity, minimum slippage

-Every firm will believe that they are already offering this. 'Good' and 'minimum' are subjective.


2. Maximum daily drawdown 5%X

-Why have daily draw-down at all? Why not just overall, max and static draw-down?


3. Overall Drawdown 10% to 12%

-Percentages do not really matter here. They could offer 50% overall draw-down, but drop max account size to 20k. It's the same thing.


4. Profit target challenge 7% to 8% 50 days to Unlimited

5. Verification profit target 5% 60 days to Unlimited

-Challenge and Verification targets are a joke. How often do you see real traders/investors doubling their money? Over 5 years, maybe. Certainly not 20-30 days.


6. Profit split 80% to 90%

-If it makes sense from a business perspective, then sure, why not.


7. Minimum trading days 1 to 5

-Same as above. But I think that if they can get away with 1-day, then they can probably make it zero.


8. Leverage 1:100

-You do not need much leverage if your account size is decent, honestly. Just keep in mind that any firm may offer 1:100, but if they impose restrictions on lot sizes/totals or have some kind of consistency rules, then the amount of leverage that is offered may be pure fiction.


9. Free retakes

-Sure. But this would not be necessary if there were no time limits in place. So this is not really a gift as some traders might think.


10. Refundable Registration Fee

-Sure. If it makes sense to do so. Some models may not work well this way.


11. Scaling at every 10% minimum 30 days

-I think scaling can and should be improved on at most firms, so I can agree with this.


12. Pay the profit max every 15 days

-How about automatic, anytime-payouts with no restrictions other than a small minimum to cover transfer fees? Don't forget to remove any potential down-time for setting up new accounts.


13. Office location

-Why?


14. Company registered in a regulated country, USA, UK, Canada and otrers

-Again, why? Regulation is usually not a good thing, and there really is no need for it, since most of these models offer a refundable fee, allowing risk-free trading.

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