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  • #1,881
  • Jun 29, 2021 11:14am Jun 29, 2021 11:14am
Quoting Takisd
{quote} succes rate isnt good. I'd bet that its below 2% so you pay like a ponzi.
I understand what you mean by ponzi.

I feel all prop firms do that.

How they generate cash ?

From failed traders, with collected $$$, they pay successful traders.
Intraday only.
  • #1,882
  • Jun 29, 2021 11:42am Jun 29, 2021 11:42am
Done today with challenge trading 2nd day FTMO and 3rd MFF
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Whether you think you can, or you think you can't,you're right. H.F.
  • #1,883
  • Jun 29, 2021 11:56am Jun 29, 2021 11:56am
Quoting navk
{quote} I understand what you mean by ponzi. I feel all prop firms do that. How they generate cash ? From failed traders, with collected $$$, they pay successful traders.
I am 99% confident that FTMO, MFF and the 5%ers also generate profits from copy trading as well. Matter of fact, if you hop on MFF discord channel, I actually have no doubt they are profiting from actual trades. Of course, fees from failed challenges are a revenue stream as well. You simply want to partner with the firms WHOSE SOLE REVENUE STREAM is not failed challenges.
  • #1,884
  • Jun 29, 2021 1:06pm Jun 29, 2021 1:06pm
Quoting pipmaster77
{quote} I am 99% confident that FTMO, MFF and the 5%ers also generate profits from copy trading as well. Matter of fact, if you hop on MFF discord channel, I actually have no doubt they are profiting from actual trades. Of course, fees from failed challenges are a revenue stream as well. You simply want to partner with the firms WHOSE SOLE REVENUE STREAM is not failed challenges.
I dont know enough about 5ers to comment, the model was so unattractive to me that I didnt even explore it. FTMO for sure have some element on dealing in the background so some trades are for sure executed. How many? Who knows. MFF has highlighted they are doing that as well. FT have highlighted that they do not send orders to market, Jessica had a breakdown on instagram explaining that, then she backtracked even though she disclosed in court that she was not executing trades and was operating a pay to play platform. Next she decided to make a server with magic spreads and conditions, which shows that 1) FT isnt a real platform and 2) FT doesn't have a fucking clue how the market works. If you saw forextips101 pre FT, you would know that they have 0 idea what they are talking about anyway.

At least Tomas at FTMO and Josh at MFF show that they know the market so you can have some faith that there is knowledge in the company.

The most knowledge you get from FT is that they regurgitate someones social media post with different writing over and over and over again oh and cringe youtube videos.
  • #1,885
  • Edited 2:02pm Jun 29, 2021 1:51pm | Edited 2:02pm
Hi there,
just created my account on FF because of this excellent thread. I need some advice from connoisseurs ! I'm only trading Dax30 and Nasdaq100 and after some digging I realised there are only 5 legit and non scam prop firm that allows indices trading : Luxtrading, Enfoid Topstep, CTI and FTMO. Would any of you have some kind of preference or warning on these 5 ?
Thanks !
  • #1,886
  • Jun 29, 2021 4:12pm Jun 29, 2021 4:12pm
Quoting obobinde
Hi there, just created my account on FF because of this excellent thread. I need some advice from connoisseurs ! I'm only trading Dax30 and Nasdaq100 and after some digging I realised there are only 5 legit and non scam prop firm that allows indices trading : Luxtrading, Enfoid Topstep, CTI and FTMO. Would any of you have some kind of preference or warning on these 5 ? Thanks !
FTMO - non trailing drawdown, tight spread (NQ, DAX), huge leverage... other firms have either trailing drawdown or too tight max drawdown like 5%. maybe Enfoid too but i haven't traded with them on "real" acc..
  • #1,887
  • Jun 29, 2021 4:46pm Jun 29, 2021 4:46pm
Quoting dr_who
{quote} Naive
Definitely NOT naive, LOL. Why in the world would anyone want to risk 100k of their own money when you can make 85% of the same money with less than 1% of the risk. It's a no brainer!
  • #1,888
  • Jun 29, 2021 4:50pm Jun 29, 2021 4:50pm
Quoting obobinde
Hi there, just created my account on FF because of this excellent thread. I need some advice from connoisseurs ! I'm only trading Dax30 and Nasdaq100 and after some digging I realised there are only 5 legit and non scam prop firm that allows indices trading : Luxtrading, Enfoid Topstep, CTI and FTMO. Would any of you have some kind of preference or warning on these 5 ? Thanks !

Cool list, there is only one of them that I would touch and thats FTMO....the rest leave much to be desired at the very least.

Also the guy who said that 5% is too little drawdown, pick another occupation... 5% in a day is a lot of damn risk.
  • #1,889
  • Jun 29, 2021 5:50pm Jun 29, 2021 5:50pm
Quoting Takisd
{quote} Cool list, there is only one of them that I would touch and thats FTMO....the rest leave much to be desired at the very least. Also the guy who said that 5% is too little drawdown, pick another occupation... 5% in a day is a lot of damn risk.
you meant my comment?
For my trading 5% max drawdown (and trailing) is too little like Lux or CTI . not daily loss limit .. that's why i proposed FTMO (for indices)
  • #1,890
  • Jun 29, 2021 6:47pm Jun 29, 2021 6:47pm
Quoting Takisd
{quote} I dont know enough about 5ers to comment, the model was so unattractive to me that I didnt even explore it. FTMO for sure have some element on dealing in the background so some trades are for sure executed. How many? Who knows. MFF has highlighted they are doing that as well. FT have highlighted that they do not send orders to market, Jessica had a breakdown on instagram explaining that, then she backtracked even though she disclosed in court that she was not executing trades and was operating a pay to play platform. Next she decided to...
On the 5%ers...I despise their standard model as well, but confident they are legit and place orders in market. Matter of fact, I'm confident any firm where fee is greater than DD is placing orders in the market. They have no risk, they have you fund your own account and then take 30-50%. However, I am doing the summer plan eval to run alongside my FTMO and very soon to be funded MFF account. It may take awhile to pass 3 challenges, but in the end , $300 for $4K DD is a pretty good deal.
  • #1,891
  • Jun 29, 2021 7:06pm Jun 29, 2021 7:06pm
Quoting pipmaster77
{quote} On the 5%ers...I despise their standard model as well, but confident they are legit and place orders in market. Matter of fact, I'm confident any firm where fee is greater than DD is placing orders in the market. They have no risk, they have you fund your own account and then take 30-50%. However, I am doing the summer plan eval to run alongside my FTMO and very soon to be funded MFF account. It may take awhile to pass 3 challenges, but in the end , $300 for $4K DD is a pretty good deal.
There is plenty of risk. People can't close out at exactly the dollar.

Also, most people fail these things within a month. So b booking for 3 months is probably the best way to go about any model.
  • #1,892
  • Jun 29, 2021 7:52pm Jun 29, 2021 7:52pm
Quoting navk
which broker FT offers for challenge account. Any one pls
they have their own feed. not broker dependent.
  • #1,893
  • Edited Jun 30, 2021 12:32am Jun 29, 2021 10:14pm | Edited Jun 30, 2021 12:32am
Quoting pipmaster77
{quote} What takisd is saying is the feed isn't real. The conditions are too good for it to be real. That company is a fraud. To each their own, but between what Jessica (CEO) pulled a couple of months ago and what takisd (with his knowledge of brokers and LPs) is saying, I will be taking a hard pass on this one. FTMO, MFF and 5%ers summer plan for me. Should be plenty.
I have taken chance.

Started with FT yesterday.

As usual, I will go aggressive with them and at the same time, will not worry to take losses.

It is just..yah..just 8 % to achieve.... and with excellent spread ( even if feed is fake ).

I feel achieving target should not be an issue. I am giving myself a time of 12 to 15 days with 1000 target per day in mind.

What I am worried is only about prompt payout.
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Intraday only.
  • #1,894
  • Jun 29, 2021 10:44pm Jun 29, 2021 10:44pm
Quoting pipmaster77
{quote} I am 99% confident that FTMO, MFF and the 5%ers also generate profits from copy trading as well. Matter of fact, if you hop on MFF discord channel, I actually have no doubt they are profiting from actual trades. Of course, fees from failed challenges are a revenue stream as well. You simply want to partner with the firms WHOSE SOLE REVENUE STREAM is not failed challenges.
I do not deny any of your statement.

What we need is profit split to be paid promptly, either from failed challenges and / or revenue generated thro copy trading. Every prop firm claim that the challenge fee is levied to cover operational cost.

If the provider faults in payment, profit spilit, then not worth.

This is where FTMO scores over others though thier feed is not so good.

I have seen a slippage of 60 pips in their feed in GBPUSD not long ago.
Intraday only.
  • #1,895
  • Jun 30, 2021 12:36am Jun 30, 2021 12:36am
Guys,any references on "theproptrading.com.au" company?
Whether you think you can, or you think you can't,you're right. H.F.
  • #1,896
  • Jun 30, 2021 2:54am Jun 30, 2021 2:54am
Anyone been looking at BuoyTrade? They've moved away from FTMO and say that they're now the only prop firm that is actually an A-Book - https://www.buoytrade.com/
Seems pretty interesting
  • #1,897
  • Jun 30, 2021 3:12am Jun 30, 2021 3:12am
Quoting Dao-trades
Anyone been looking at BuoyTrade? They've moved away from FTMO and say that they're now the only prop firm that is actually an A-Book - https://www.buoytrade.com/ Seems pretty interesting
I'm just reading rules and trying understand this:
Minimum Trading Days
To meet this objective, you must trade for at least 10 days during the current duration cycle. At least one position must be opened on each of these days. A trading day is defined as a day when at least one trade is executed.

If a trade is held over multiple days, only the day when the trade was executed is considered to be the trading day.

I know there is way around it,but aren't are swing and longer term trading traders more interesting for company to copy their trades then day traders?
Whether you think you can, or you think you can't,you're right. H.F.
  • #1,898
  • Edited 3:25am Jun 30, 2021 3:15am | Edited 3:25am
Quoting Dao-trades
Anyone been looking at BuoyTrade? They've moved away from FTMO and say that they're now the only prop firm that is actually an A-Book - https://www.buoytrade.com/ Seems pretty interesting
Looks very interesting and somewhat legitimate.
I like that they'll be offering bi-weekly payments too.


Takisd, is it possible to fake the information they claim they will be providing to prove that orders actually go to the real market?
I.e
"This will be proven by a Trade Receipt, so you would know which Bank, Darkpool, Exchange, Fund House etc. are taking on your trades"


Can't find where they implied that they've severed ties with FTMO but it seems that's the case as their standard model nowoffers 1;20 lev for forex pairs which was previously 1:100.

They look very legit.
  • #1,899
  • Jun 30, 2021 5:07am Jun 30, 2021 5:07am
second day target done.

Aim is 1 % per day.

Additional profit done as of now, 0.3 %

Whatever I do in NY session, that will be more....additional bonus.


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Intraday only.
  • #1,900
  • Jun 30, 2021 7:06am Jun 30, 2021 7:06am
Quoting Koop
{quote} Looks very interesting and somewhat legitimate. I like that they'll be offering bi-weekly payments too. Takisd, is it possible to fake the information they claim they will be providing to prove that orders actually go to the real market? I.e "This will be proven by a Trade Receipt, so you would know which Bank, Darkpool, Exchange, Fund House etc. are taking on your trades" Can't find where they implied that they've severed ties with FTMO but it seems that's the case as their standard model nowoffers 1;20 lev for forex pairs which was previously...

There is a complaint on forexpeacearmy where a guy found out that his CFD orders at GP were executed by a gleneagle subsidiary, which is the owner of GP. Whilst I don't really care how someone executes so long as they execute, I don't like it when they use that shit for marketing purposes. It doesn't make you more transparent its just a gimmick, you are no more safe with a company dishing out receipts than you are with FXCM who sends all their flow to their dealer in HK.

Yes it is possible to fake those receipts, but it depends on who is your LP and how far they are willing to go. LP relationships at prime level (with the banks) are covered in NDA's and disclosing execution publicly would lead to losing the LP relationship the minute it was known.

The buoytrade guy is a special person. He talks a big game with a lot of "alternative facts" but seems genuine enough to want to at least run a proper business. But is another case of having some knowledge but not knowing what he is talking about. That being said I see no harm in working with him. I also believe he is one of those "educators" in singapore who does the seminars in the humidity with boxes of KFC as snacks.
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