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  • #2,081
  • Edited 1:32pm Jul 5, 2021 1:21pm | Edited 1:32pm
Quoting Koop
{quote} This has always been my problem with the 5ers regular direct funding model, same as CTI and similar firms. They like to sing glorious hymns about the great scale up plans and the 1.8mill - 2mill waiting for you at the end of the journey... but not a single trader has achieved this targets yet.... how easy would it be to scale through all the steps and stages with 1:5 leverage and a 4-5% max DD? how long would it take before one gives up on that large account honeypot target? all while taking home only 50% of your profits for that whole period....
So let say 5% monthly,no withdrawals great trader will take the account to level 10 just in short time 10 months without pay.Great now you have 1 mil funding,but next month something happen and you'll experience 6% DD.What happen to your 1 mil account?

On the other hand,in 10 months you can get 10 accounts 100k each from 3 firms and while you''ll be getting them,you'll make money.
I know trading 10 accounts is not easy,but it is doable. I wouldn't trade them at once thru copier but rather in "baskets",so if I'll make some mistake,I won't loose them all at once.
And then I can play with %%%%% -))
Whether you think you can, or you think you can't,you're right. H.F.
  • #2,082
  • Jul 5, 2021 1:49pm Jul 5, 2021 1:49pm
Quoting Koop
{quote} This has always been my problem with the 5ers regular direct funding model, same as CTI and similar firms. They like to sing glorious hymns about the great scale up plans and the 1.8mill - 2mill waiting for you at the end of the journey... but not a single trader has achieved this targets yet.... how easy would it be to scale through all the steps and stages with 1:5 leverage and a 4-5% max DD? how long would it take before one gives up on that large account honeypot target? all while taking home only 50% of your profits for that whole period....
Evaluation model offered by FTMO, MFF, FT are far more superior to others.

It is just that this thread talks so much about 5ers....like.
Intraday only.
  • #2,083
  • Edited 2:20pm Jul 5, 2021 2:00pm | Edited 2:20pm
Quoting Simply-Me
I'm just wondering how long(and IF) it might take to get to level 10 to actually make some money at 50/50 split?
LONG...
It is super hard to lose 5% with this margin, this model, but super hard to make it also
A top trader that is consistently profitable will hit the 5% a month, should, he/she will be the top 1 %
BUT, the no funny rules and restrictions, is magic!
Those who don't believe in magic will never find it
  • #2,084
  • Jul 5, 2021 7:46pm Jul 5, 2021 7:46pm
Sign of things to come
Sneak preview. Apparently coming next month.??
Attached Image (click to enlarge)
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Attached Image
Look Left Trade Right
  • #2,085
  • Jul 5, 2021 7:57pm Jul 5, 2021 7:57pm
Quoting Basill
Sign of things to come Sneak preview. Apparently coming next month.?? {image}{image}
REEE RORRR ORREEE RROOOR... If you call it "Deposit" you are breaching securities laws in pretty much every jurisdiction if you do not hold a securities license. REEEE RORRR...

This firm will not last as its highly illegal.
  • #2,086
  • Jul 5, 2021 8:15pm Jul 5, 2021 8:15pm
Quoting Takisd
{quote} REEE RORRR ORREEE RROOOR... If you call it "Deposit" you are breaching securities laws in pretty much every jurisdiction if you do not hold a securities license. REEEE RORRR... This firm will not last as its highly illegal.
Not to mention, once again, if YOUR DEPOSIT IS YOUR ALLOWED LOSS, what is the purpose of using them and giving them any % of your profit?
So if I deposit 50K on their 50K account, my DD is 100% lol. So instead of putting it in my own account, let me give it to them so they can take 30%. Who falls for this shit???
  • #2,087
  • Jul 5, 2021 8:17pm Jul 5, 2021 8:17pm
Quoting Takisd
{quote} REEE RORRR ORREEE RROOOR... If you call it "Deposit" you are breaching securities laws in pretty much every jurisdiction if you do not hold a securities license. REEEE RORRR... This firm will not last as its highly illegal.
So right.
I found out from a friend who knows a person who knows a person. Lol.
Still in the making so maybe they will reword it or something
Look Left Trade Right
  • #2,088
  • Jul 5, 2021 10:39pm Jul 5, 2021 10:39pm
Quoting pipmaster77
{quote} Not to mention, once again, if YOUR DEPOSIT IS YOUR ALLOWED LOSS, what is the purpose of using them and giving them any % of your profit? So if I deposit 50K on their 50K account, my DD is 100% lol. So instead of putting it in my own account, let me give it to them so they can take 30%. Who falls for this shit???

I don't think you will ever feel happy about the scaling based programs ... best just let them be. But these guys are "special" because they call it a deposit it shows their intention and their ignorance.
  • #2,089
  • Jul 5, 2021 11:23pm Jul 5, 2021 11:23pm
Quoting Basill
{quote} So right. I found out from a friend who knows a person who knows a person. Lol. Still in the making so maybe they will reword it or something
Yes the least of their worries will be the terminology used.

Deposit is a word to be avoided.

Masterrmind .........
Master your Mind then Master your Trades
  • #2,090
  • Jul 6, 2021 12:54am Jul 6, 2021 12:54am
Quoting Basill
Sign of things to come Sneak preview. Apparently coming next month.?? {image}{image}
Another NO,NO
3. The account must be in profit at the end of each calendar month.

So,I can have drowdown,but not on end of the month?Another rule,the will help you to trade without adding stress ?-)))))
Whether you think you can, or you think you can't,you're right. H.F.
  • #2,091
  • Jul 6, 2021 3:24am Jul 6, 2021 3:24am
Quoting Takisd
{quote} I don't think you will ever feel happy about the scaling based programs ... best just let them be. But these guys are "special" because they call it a deposit it shows their intention and their ignorance.
What else would you call it if not deposit? And what's wrong about that word? Just asking, I don't like their offer...
Money is made by sitting, not trading
  • #2,092
  • Jul 6, 2021 3:38am Jul 6, 2021 3:38am
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$10k Verification Target of $500 Reached

Wooohoo!
All Assets NAS100 GLD BTC AUS JPY GBP All Time Return: 19.7%
  • #2,093
  • Jul 6, 2021 4:00am Jul 6, 2021 4:00am
Quoting Simply-Me
{quote} So let say 5% monthly,no withdrawals great trader will take the account to level 10 just in short time 10 months without pay.Great now you have 1 mil funding,but next month something happen and you'll experience 6% DD.What happen to your 1 mil account? On the other hand,in 10 months you can get 10 accounts 100k each from 3 firms and while you''ll be getting them,you'll make money. I know trading 10 accounts is not easy,but it is doable. I wouldn't trade them at once thru copier but rather in "baskets",so if I'll make some mistake,I won't...
Appears they are heavily involved with chance, the chances of the trader not meeting the end result are realistically very high !

What are the chances (probability) that any trader would progress all the way through to level 10 ?

I think trading on this type of Prop Firm model is better left to traders who are already funded elsewhere and simply want to dabble in something quite difficult.

Masterrmind ..........
Master your Mind then Master your Trades
  • #2,094
  • Jul 6, 2021 4:01am Jul 6, 2021 4:01am
Quoting Phil_GMT
{image} $10k Verification Target of $500 Reached Wooohoo!
Nice work mate.

In the bag.

Masterrmind .........
Master your Mind then Master your Trades
  • #2,095
  • Jul 6, 2021 4:31am Jul 6, 2021 4:31am
Quoting Masterrmind
{quote} Appears they are heavily involved with chance, the chances of the trader not meeting the end result are realistically very high ! What are the chances (probability) that any trader would progress all the way through to level 10 ? I think trading on this type of Prop Firm model is better left to traders who are already funded elsewhere and simply want to dabble in something quite difficult. Masterrmind ..........
I'm thinking about big fat 0 -))), but hey, you never know -))
Whether you think you can, or you think you can't,you're right. H.F.
  • #2,096
  • Jul 6, 2021 4:39am Jul 6, 2021 4:39am
Quoting Phil_GMT
{image} $10k Verification Target of $500 Reached Wooohoo!
Congrats man!!
  • #2,097
  • Jul 6, 2021 7:01am Jul 6, 2021 7:01am
Quoting Vitore
{quote} What else would you call it if not deposit? And what's wrong about that word? Just asking, I don't like their offer...

Fee. Always fee. Deposit suggests you are acting as custodian and holding client funds which changes the category of business to a FSP/securities dealer/broker dealer/whatever each country describes it as. They then enjoy the benefit of being an illegally operating financial business. Which means fines, shut downs, potentially jail time if they rug pull.

But I have disclosed too much, sometimes crooks should be crooks and get caught.
  • #2,098
  • Jul 6, 2021 8:43am Jul 6, 2021 8:43am
Quoting Takisd
{quote} Fee. Always fee. Deposit suggests you are acting as custodian and holding client funds which changes the category of business to a FSP/securities dealer/broker dealer/whatever each country describes it as. They then enjoy the benefit of being an illegally operating financial business. Which means fines, shut downs, potentially jail time if they rug pull. But I have disclosed too much, sometimes crooks should be crooks and get caught.
Is there a firm actually attempting to do that now? Yikes.
Trade with confidence, trade without fear.
  • #2,099
  • Jul 6, 2021 1:11pm Jul 6, 2021 1:11pm
takisd...

re: FT US30 spreads

since mid friday, they're typically at 20-40... last hour of friday up to 350... at rollovers as high as 1100.
  • #2,100
  • Jul 6, 2021 1:47pm Jul 6, 2021 1:47pm
Quoting doyathink
takisd... re: FT US30 spreads since mid friday, they're typically at 20-40... last hour of friday up to 350... at rollovers as high as 1100.

They are ok now. Actually my slippage magically stopped too after I asked for a refund. But its ok, I didn't really expect much from them anyway as their entity as a whole is unprofessional. Could be tempted to send my evidence to the regulator but right now I'm too lazy to bother. I'll keep it on my toupe until someone threatens me maybe.
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