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  • #581
  • Edited 2:17am Apr 25, 2021 1:51am | Edited 2:17am
Quoting Masterrmind
Post 1 has been updated. Regular updates are to be expected as a result of traders feedback. The information contained in Post 1 will be modified and expanded upon in due course. Good trading, Masterrmind .........
.

May be worth adding the URL for prop funds if you have them handy.
Trading is SIMPLE not EASY.
  • #582
  • Apr 25, 2021 5:19am Apr 25, 2021 5:19am
Quoting Miksiu
this darwin shit isn't as beatiful as paulmf aka darwinexpayme (for a side hustle) described. they don't accept trading on my own account. they just want me to trade their accounts until the score is right and then i will qualify for some funding.. no thanks i would rather trade my account with commissions or spread rebates and additionally for example 5ers and i will do better. why? because i will receive real money from my IB and my profits and i heard that 5ers pays on monthly basis no matter how much you've earned.. darwinex pays 15% QUARTERLY...
Do you mean that Traders only have access to their profit splits quarterly?

And I read on the site that you can link your personal trading account to get a rating...so I'm a bit confused.

Anyways, here's another one -

https://www.habbyforex.com/funding/

In my country (lol). I'd be surprised if they're getting many sign ups with that weird pricing.

This online prop thing seems like a pretty easy business to start up
  • #583
  • Apr 25, 2021 5:30am Apr 25, 2021 5:30am
Quoting garfield75
{quote} . May be worth adding the URL for prop funds if you have them handy.
Yes certainly on my ‘to do’ list.

Masterrmind ........
Master your Mind then Master your Trades
  • #584
  • Apr 25, 2021 5:49am Apr 25, 2021 5:49am
Quoting Masterrmind
{quote} Participation fee should be for those traders willing to take on the risk and who can afford to lose it. Be very careful when comparing drawdown percentage values. True DD should reference the minimum account equity at any given point in time. It makes sense then to have a drawdown definition so apples can be compared with apples and not oranges. Bottom line is that you need to know exactly how each DD definition is defined and what it means in the context under which it is being used. I’m wondering if the Darwinex dd calculation considers...
Maximum granurality.

So, yes. In the worst equity scenario.
Always ready to help
  • #585
  • Apr 25, 2021 5:58am Apr 25, 2021 5:58am
Quoting Koop
{quote} Do you mean that Traders only have access to their profit splits quarterly? And I read on the site that you can link your personal trading account to get a rating...so I'm a bit confused. Anyways, here's another one - https://www.habbyforex.com/funding/ In my country (lol). I'd be surprised if they're getting many sign ups with that weird pricing. This online prop thing seems like a pretty easy business to start up
Had a quick look over the site.

Appears that very similar wording has been used from other similar sites but with only a few minor differences.

USD$300 for a 1k challenge and based on performance they’ll offer you a 1k or 3k or 5k or 10k account.

60% profit split to the trader is not ideal.

DD limit of 15% and a target of 11%.

Max funding up to $10K !

Definitely not of interest to me and certainly would not part with $300 based on first pass of the site.

Masterrmind ........
Master your Mind then Master your Trades
  • #586
  • Apr 25, 2021 6:34am Apr 25, 2021 6:34am
Quoting Miksiu
this darwin shit isn't as beatiful as paulmf aka darwinexpayme (for a side hustle) described. they don't accept trading on my own account. they just want me to trade their accounts until the score is right and then i will qualify for some funding.. no thanks i would rather trade my account with commissions or spread rebates and additionally for example 5ers and i will do better. why? because i will receive real money from my IB and my profits and i heard that 5ers pays on monthly basis no matter how much you've earned.. darwinex pays 15% QUARTERLY...
I didn't say that it is beautiful. Neither interested on them. I just exposed that what they offer makes more sense than what "prop-firms" offer.


very kind!
Always ready to help
  • #587
  • Apr 25, 2021 7:25am Apr 25, 2021 7:25am
This one has appeared very recently. Very competitive to say the least. But no track record I'm afraid. There are some videos on Youtube plus an interview with the owner (if that means anything!).

https://tradersprop.com/funding-model
  • #588
  • Apr 25, 2021 7:28am Apr 25, 2021 7:28am
Quoting Mtinifx
This one has appeared very recently. Very competitive to say the least. But no track record I'm afraid. There are some videos on Youtube plus an interview with the owner (if that means anything!). https://tradersprop.com/funding-model
Sorry forgot to mention that at the moment they have only one broker and it's a standard account. They are promising to add more brokers like ICmarkets - time will tell with this one I suppose but their offers do look very attractive
  • #589
  • Apr 25, 2021 8:03am Apr 25, 2021 8:03am
Quoting Mtinifx
{quote} Sorry forgot to mention that at the moment they have only one broker and it's a standard account. They are promising to add more brokers like ICmarkets - time will tell with this one I suppose but their offers do look very attractive
Lol Damn these guys are getting more competitive everyday. This firm's offer looks great of first glance... Enough DD room for the more aggressive Traders.

Based in UAE so I assume they have a lot of oil backed money too lol.

https://tradersprop.com/product/earning-model/

They even have a 1 step challenge option (earning model). Still trying to understand it
  • #590
  • Apr 25, 2021 8:24am Apr 25, 2021 8:24am
Quoting Koop
{quote} Lol Damn these guys are getting more competitive everyday. This firm's offer looks great of first glance... Enough DD room for the more aggressive Traders. Based in UAE so I assume they have a lot of oil backed money too lol. https://tradersprop.com/product/earning-model/ They even have a 1 step challenge option (earning model). Still trying to understand it
Crazy man, real funded account at the end. This will blown ftmo out of the water if all were true.
on a postive roll...
  • #591
  • Apr 25, 2021 8:33am Apr 25, 2021 8:33am
Quoting Koop
{quote} Lol Damn these guys are getting more competitive everyday. This firm's offer looks great of first glance... Enough DD room for the more aggressive Traders. Based in UAE so I assume they have a lot of oil backed money too lol. https://tradersprop.com/product/earning-model/ They even have a 1 step challenge option (earning model). Still trying to understand it
Yes, Traders Prop UAE really has excellent conditions, maybe too good to be true.
It's not clear how Earning Mode works.
  • #592
  • Apr 25, 2021 8:34am Apr 25, 2021 8:34am
Quoting Koop
{quote} Do you mean that Traders only have access to their profit splits quarterly? And I read on the site that you can link your personal trading account to get a rating...so I'm a bit confused. Anyways, here's another one - https://www.habbyforex.com/funding/ In my country (lol). I'd be surprised if they're getting many sign ups with that weird pricing. This online prop thing seems like a pretty easy business to start up
yes it seems that i missed that part with linking an account ..
  • #593
  • Edited 9:10am Apr 25, 2021 8:56am | Edited 9:10am
Holy cow! Just looked at Traders Prop.

They tick all the boxes as appearing to be as good or better than FTMO.

Only one concern. The smell test. They are NEW.

If they are around a year from now and have good reviews with regular payouts and no problems, I may look into them.

Until then, we'll see if this firm inspires FTMO to make any positive changes. Perhaps FTMO is so far ahead with a solid payment
history and good reviews that they won't see a need to do so.

Edit: Looked closer at the website. They use Exness as the broker. Never heard of them. From the tiny print at the bottom of the 'About Us' page:
Nymstar Limited is a Securities Dealer registered in Seychelles with registration number 8423606-1 and authorised by the Financial Services Authority (FSA) with licence number SD025. The registered office of Nymstar Limited is at F20, 1st floor, Eden Plaza, Eden Island, Seychelles. Nymstar Limited is duly authorised to operate under the Exness brand and trademarks.
  • #594
  • Apr 25, 2021 10:10am Apr 25, 2021 10:10am
Quoting ForexGalVA
Holy cow! Just looked at Traders Prop. They tick all the boxes as appearing to be as good or better than FTMO. Only one concern. The smell test. They are NEW. If they are around a year from now and have good reviews with regular payouts and no problems, I may look into them. Until then, we'll see if this firm inspires FTMO to make any positive changes. Perhaps FTMO is so far ahead with a solid payment history and good reviews that they won't see a need to do so. Edit: Looked closer at the website. They use Exness...

Most firms conditions are better than FTMO nowadays. But FTMO has the track record.

Edit: Also plenty of reasons not to want to use exness... They rarely pay out hugely profitable traders. A slue of complaints about that russian shop.
  • #595
  • Apr 25, 2021 11:22am Apr 25, 2021 11:22am
Quoting Basill
{quote} Yes you can & I have also linked my Darwinex account to Psyquation for the same reason.
Can I link my current trading account (Pepperstone) and act as a signal provider?

I'm a little confused as to what exactly Darwinex is, could you please help me out?

I want to be able to use my Pepperstone account and act as a signal provider, what are my options? Zulutrader and eToro both do not allow Pepperstone, I have no idea why.

Thanks.
  • #596
  • Apr 25, 2021 1:28pm Apr 25, 2021 1:28pm
Quoting Koop
{quote}They even have a 1 step challenge option (earning model). Still trying to understand it
Quoting Matteorossi
{quote} Yes, Traders Prop UAE really has excellent conditions, maybe too good to be true. It's not clear how Earning Mode works.
It's not that hard to understand.
- Invest amount you like (50 - 10.000)
- in 30 days reach 9% profit target
- while not breaking the DD rules.
- minimum 10 trading days
get instant 135% of your investment returned.

The funding model is better i.m.o. because you invest once and get payouts as long as you keep trading within the rules, and also get a fee refund.
Only difference is the verification (an extra round to reach a 5% profit target in 60 days)
Persistence will get it. Consistency will keep it.
  • #597
  • Apr 25, 2021 2:07pm Apr 25, 2021 2:07pm
Quoting ForexGalVA
Holy cow! Just looked at Traders Prop. They tick all the boxes as appearing to be as good or better than FTMO. Only one concern. The smell test. They are NEW. If they are around a year from now and have good reviews with regular payouts and no problems, I may look into them. Until then, we'll see if this firm inspires FTMO to make any positive changes. Perhaps FTMO is so far ahead with a solid payment history and good reviews that they won't see a need to do so. Edit: Looked closer at the website. They use Exness...
Yes the famous smell test ! Does not pass mine either not by a long shot. No rules really, no risk management in regards to news or whatever. They are perhaps not planning to last very long ! But who knows, maybe they have deeper pockets, like Koop mentioned, then on can imagine, and have insurance against all the black swans that will be coming their way.. Ive seen weirder things !

But If I was looking for a prop firm, and just with the tiny possibility that they are the real deal(Seychelles !), Id put one toe in to check the waters.
I'd at least get into one of their cheapest accounts and copy my usual trades... 119$ for such an aggressive model ???(Man, thats my daily wine budget folks !!)


When its too good to be true... but then again, they even give your money back after the 2 verifications stages so .. not much risk at that price, and not much time wasted, if just copying trades...

Even the scaling plan is just crazy doubling of account ?! "Accounts are reviewed for extra capital allocation every 3 months. If an account has made at least 10% profit in the period of 3 months, that account is eligible for 100% extra capital allocation. An account can be scaled to a maximum of $500K."

start with the minimum 10000 just to see for real if THEY are for REAL, trade as usual with a copier, be consistent enough to hit the 10% every 3 months, and you have got a 500000$ account before the summer of 2022

Oh wait, I made myself forget the smell test!!!

If someone gets the contract, please post it here, I am curious, to see how much more laughable the fine print could be !

I new these deals would get crazier and crazier. Very interested to see the evolution of it all.
Attached Images
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #598
  • Apr 25, 2021 2:43pm Apr 25, 2021 2:43pm
At this point we are just encouraging scams because they offer amazement. Listen guys, its time for us to do our part when it comes to legitimacy in prop firms.

We are encouraging scams by giving a shit about things like "Weekend trading" and "99.9% profit split and capital increase by 100% every 3 months". There is no sustainable business model that will keep any of this crap up. We should look for firms who are looking at trader development, who have conditions that are good for business such as no trading on weekend (or over night for that matter), max lot sizes, max number of open trades. Things that say not only our risk management has to be good but also the companies.

To assume that someone will truly give you capital and let you be a cowboy is ridiculous.
Also if you are using someone elses EA, or trade copying someone else for a prop firm, not only are you abusing that prop firm but you're an idiot. (You know who you are).
  • #599
  • Apr 25, 2021 3:14pm Apr 25, 2021 3:14pm
Quoting Takisd
At this point we are just encouraging scams because they offer amazement. Listen guys, its time for us to do our part when it comes to legitimacy in prop firms. We are encouraging scams by giving a shit about things like "Weekend trading" and "99.9% profit split and capital increase by 100% every 3 months". There is no sustainable business model that will keep any of this crap up. We should look for firms who are looking at trader development, who have conditions that are good for business such as no trading on weekend (or over night for that matter),...

Lol obviously 95% of these forms are scams. It's like the Forex broker frenzy all over again. They see something very profitable and jump all in with these crazy promises that clearly signal desperation.
This is the number one reason I'm worried about theproptrading and MFF... Promising 110% refund on your challenge fees.

Lol wtf, why the extra 10%? Why so nice? Profit splits of over 85%...
I can understand reducing profit targets..but a max DD of 15% for such a new firm makes them look unserious.

Fact is nothing these new guys offer would be able to outdo the experience and long payment history of the more popular firms.

STILLLLL,

anyone who wants to go for it should feel free. If I'm being honest, once I get my first profit split with a more trusted firm, I would spare a few hundreds to test out two less trusted firms (not absolute nobodies of course).
  • #600
  • Apr 25, 2021 6:03pm Apr 25, 2021 6:03pm
Quoting Koop
{quote} Lol obviously 95% of these forms are scams. It's like the Forex broker frenzy all over again. They see something very profitable and jump all in with these crazy promises that clearly signal desperation. This is the number one reason I'm worried about theproptrading and MFF... Promising 110% refund on your challenge fees. Lol wtf, why the extra 10%? Why so nice? Profit splits of over 85%... I can understand reducing profit targets..but a max DD of 15% for such a new firm makes them look unserious. Fact is nothing these new guys offer would...

I just passed at MFF, I am "comfortable" with them. But I dug really deep on that one and I skipped on FT because they erked me. Theproptrading is a scam for sure what the crap is that.
I think the question is more about how a company evolves from here than anything. We don't need new prop firms, there are already enough. But how are those prop firms adjusting? I think the next 2 ish months, if the firms don't adjust and the new money teeters out then we will start seeing the scamshops run for the hills. I was looking at all the firms marketing to me on facebook and they all have no idea what they are doing. Their targeting is rubbish, its literally "make ad saying you can be a millionaire and target everyone". Including some of the FF "preferred firms".

I will be impressed when a firm shows they actively want to develop traders more than actively wanting traders to take evaluations or pay for their own drawdown. But hey, if a firm paid 70% split had a cap on lot size/number of trades and no weekend/overnight trades would you trade with them given scammyfirm would give you 90% let you trade how big and how hard you want? Of course every one is going to think they can turn their 10k account into 30 k every month just by opening giant trades so they go and fail at these buckethouses.

edit: I sit in the chats of a few companies on fb and I can tell that most of the traders are losers because of how they talk. "MY MAGIC EA NEEDS WEEKEND TRADING AND ONLY DD ON BALANCE NOT EQUITY. HELP ME FIND A FIRM" or "THIS FIRM NEEDS BETTER BROKERS COS THE ONE WITH 0.2 pip SPREAD ON EUR IS BAD FOR ME COS I HAVE A SCALPING STRATEGY AND TIGHT STOP LOSS"... anyone who says that shit is a loser and will continue being a loser. So perhaps they deserve to lose their money.
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