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  • #8,641
  • Edited 12:19pm Jun 21, 2022 7:32am | Edited 12:19pm
Quoting Capablanca
{quote} Thanks for keeping us posted. An alert for the case you haven't seen it. You need to achieve 4% before the first withdraw. After the first one there's no minimum. {quote}
Thank you. Well, if I can get that far I will be happy.
  • #8,642
  • Jun 21, 2022 8:45am Jun 21, 2022 8:45am
Hello!
https://theproptrading.com.au/

This company was recommended to me. Does anyone have experience with them and can you give me some advice? Thank you!
  • #8,643
  • Jun 21, 2022 8:55am Jun 21, 2022 8:55am
Quoting Capablanca
You need to achieve 4% before the first withdraw. After the first one there's no minimum.
-I would want to make sure that the 4% requirement is only a one-time thing. Per their FAQ, it is not clearly defined enough in my opinion.

Since that 4% profit requirement is likely based on account size and not draw-down allowance, then it is really more like 40%. You would also have to consider that the challenge phases of 6% and 6% or actually 6% and 10% requirements (or 60% and 100%, respectively, I believe).
  • #8,644
  • Jun 21, 2022 9:03am Jun 21, 2022 9:03am
Quoting Nsak3y
{quote}-I would want to make sure that the 4% requirement is only a one-time thing. Per their FAQ, it is not clearly defined enough in my opinion. Since that 4% profit requirement is likely based on account size and not draw-down allowance, then it is really more like 40%. You would also have to consider that the challenge phases of 6% and 6% or actually 6% and 10% requirements.
Agree it is sugar coating things in different way. The probability of passing doesn't change with target. If target is traders real concern than MyFF and TFF is the best as MyFF has 12% allowed drawdown and TFF has 4% in second phase.
  • #8,645
  • Jun 21, 2022 9:33am Jun 21, 2022 9:33am
Quoting Nsak3y
{quote}-I would want to make sure that the 4% requirement is only a one-time thing. Per their FAQ, it is not clearly defined enough in my opinion. Since that 4% profit requirement is likely based on account size and not draw-down allowance, then it is really more like 40%. You would also have to consider that the challenge phases of 6% and 6% or actually 6% and 10% requirements (or 60% and 100%, respectively, I believe).
Good point, in fact is unclear. I think I had read that here but I can't swear.
  • #8,646
  • Jun 21, 2022 11:26am Jun 21, 2022 11:26am
Well I am not off to a good start with this BGC company. I went through their challenge purchasing procedure and when the bank verification page was supposed to appear the page crashed. It said "widget failed to load". So I tried again and a page came up saying the payment is accepted.
So I check my email and to my horror I see that I have been charged twice.
I send email to BCG support and received an unsigned reply " we will look into it". No name on the email which I think is very bad customer service.
Well that was 3 hours ago and I have heard nothing since.
  • #8,647
  • Jun 21, 2022 11:35am Jun 21, 2022 11:35am
Quoting Capablanca
{quote} Why don't you like them Doji ? I use to go to Discord once in a while but just to the announcements sections to scan if there's anything new regarding the props.
Send link to discord please thanks
  • #8,648
  • Jun 21, 2022 11:59am Jun 21, 2022 11:59am
Quoting Nsak3y
-I would want to make sure that the 4% requirement is only a one-time thing. Per their FAQ, it is not clearly defined enough in my opinion.
-Not really interested in this firm, but I checked with support on this for those that may be. Per their support:

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  • #8,649
  • Jun 21, 2022 12:18pm Jun 21, 2022 12:18pm
Quoting Bizziebee
Well I am not off to a good start with this BGC company. I went through their challenge purchasing procedure and when the bank verification page was supposed to appear the page crashed. It said "widget failed to load". So I tried again and a page came up saying the payment is accepted. So I check my email and to my horror I see that I have been charged twice. I send email to BCG support and received an unsigned reply " we will look into it". No name on the email which I think is very bad customer service. Well that was 3 hours ago and I have heard...
UPDATE
Well they did not want to pay me any money back. Afterwards I see that they do not give refund even if you have made no trade on the account. LESSON: read terms and conditions of these small players BEFORE you pay them anything.

When I complained that it wasn't my fault, they offered refund less $25 for "set-up fees". When I declined and got very upset, they offered full refund. I have received an email saying the refund has been processed.

I phoned my bank and they said that this should not have occured because verification page has to load and transction has to be approved by pin number in Bank online app. So really I have a claim against my bank. Maybe I will end up the winner after all this.
  • #8,650
  • Jun 21, 2022 7:38pm Jun 21, 2022 7:38pm
Quoting Capablanca
{quote} Why don't you like them Doji ? I use to go to Discord once in a while but just to the announcements sections to scan if there's anything new regarding the props.
Just a personal preference as I'm hardly a social butterfly.

The FF community is good enough for me.
Amor Fati--F. Nietzsche
  • #8,651
  • Jun 22, 2022 12:43am Jun 22, 2022 12:43am
Quoting doji
{quote} Just a personal preference as I'm hardly a social butterfly. The FF community is good enough for me.
I was asking about FundedNext

You mentioned that you'll be leaving unless their conditions improve.
  • #8,652
  • Jun 22, 2022 12:48am Jun 22, 2022 12:48am
The Funded trader finally updated their web site with the announced new challenges and options.
https://thefundedtraderprogram.com/
  • #8,653
  • Jun 22, 2022 12:50am Jun 22, 2022 12:50am
Quoting Sniper-FX
Hello! https://theproptrading.com.au/ This company was recommended to me. Does anyone have experience with them and can you give me some advice? Thank you!
I wrote a review a couple of months ago. I think most of it is still updated.
https://www.forexfactory.com/thread/...8#post13951368
  • #8,654
  • Jun 22, 2022 1:52am Jun 22, 2022 1:52am
Quoting Capablanca
The Funded trader finally updated their web site with the announced new challenges and options. https://thefundedtraderprogram.com/
Thank you, yes I see only difference with other model is that EA is allowed. But you still have to wait for 30 days before can receive first payout. Drawdown rules also very long winded
  • #8,655
  • Jun 22, 2022 8:56am Jun 22, 2022 8:56am
Quoting Bizziebee
{quote} Thank you, yes I see only difference with other model is that EA is allowed. But you still have to wait for 30 days before can receive first payout. Drawdown rules also very long winded

EA, DD calculation, a few hidden rules missing. If you think of what MFF evaluation is, its basically that entirely.
  • #8,656
  • Jun 22, 2022 3:27pm Jun 22, 2022 3:27pm
There is an interesting conversation going on in a circle I am in in regards to prop trading vs retail fx brokerage.

My argument is that the statistics for win/lose are the same however, the cost of entry and potential reward is significantly larger for a retail trader by using an evaluation/challenge prop firm.

Even from a gambling perspective, if you manage to get to live, you find on set up and go heavy on it. If you win, you coast till the payout and likely make 20-80x your original "deposit". To get 80x on a deposit at a retail broker it will take months/years if you can make it. We all know the statistical facts on who can make money trading/how many people but if you have a chance, it seems that its more power to the trader to have larger capital. Especially if they are one of the traders that last between 3-6 months (the first tier of anomaly after the 95% that lose).
  • #8,657
  • Jun 22, 2022 3:47pm Jun 22, 2022 3:47pm
Quoting Takisd
There is an interesting conversation going on in a circle I am in in regards to prop trading vs retail fx brokerage. My argument is that the statistics for win/lose are the same however, the cost of entry and potential reward is significantly larger for a retail trader by using an evaluation/challenge prop firm. Even from a gambling perspective, if you manage to get to live, you find on set up and go heavy on it. If you win, you coast till the payout and likely make 20-80x your original "deposit". To get 80x on a deposit at a retail broker it will...
Absolutely 100% correct. Just the sheer fact that you get 20-24 times your money to trade (fee vs DD). On top, fee is refunded, you are freerolling, cannot even put a math equation on that. Not to mention, in order to get the personal account to a level where you can pull profits, you need to compound and keep it in there. On top of that, you are NEVER in danger of losing your entire account do to black swan event, broker belly up, etc. In the prop world, you simply take another eval. Using MFF as an example, $1300 for 36K DD......compounding phase 1 and 2 , 12% DD to make 8% and then 12% to make 5%, you would turn that $1300 into $3,061, instead you have $36K, call it $28,800 with split, so 9.4 times what you paid. Here are the numbers, all credit to TrAndy. There is absolutely no comparison between this and trading a personal account. take a note at all the scores below 1, most of those are the direct funding models.
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  • #8,658
  • Jun 22, 2022 4:37pm Jun 22, 2022 4:37pm
Quoting Bizziebee
Thank you, yes I see only difference with other model is that EA is allowed. But you still have to wait for 30 days before can receive first payout. Drawdown rules also very long winded
-Royal challenge:

 

  1. No lot size limits
  2. EA's are enabled
  3. Lower profit target of 8%
  4. Holding over the weekend is allowed
  5. Daily draw-down is calculated with equity and balance


200K challenge costs $939 USD. I asked support about maximum funding allocation for royal accounts with regard to merging, and was told that it is 600K. Not sure about the trading conditions, but if they are decent, then this could be a nice addition.

  • #8,659
  • Jun 22, 2022 4:49pm Jun 22, 2022 4:49pm
If anyone is interested in an untouched E8 funding account for any amount at 10% the payment price feel free to send me a private message. Can get you setup at a lower entry cost. All the best.
  • #8,660
  • Jun 23, 2022 6:11am Jun 23, 2022 6:11am
Quoting Capablanca
{quote} I was asking about FundedNext You mentioned that you'll be leaving unless their conditions improve.
This just about sums it up.

https://www.forexfactory.com/thread/...3#post14035993
Amor Fati--F. Nietzsche
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