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  • #8,801
  • Jun 26, 2022 11:45pm Jun 26, 2022 11:45pm
Quoting TrAndy1
{quote} There is one youtube video, do not ask me which one, where the CEO of FTMO is saying they have or had an own trading floor with their capital traded for some traders in their office. One who was trading futures extremely successfully as prop trader went away (to the USA ? not sure) when they started heavily on offering challenges. The CEO also said, that was the reason to provide more capital for more outside prop traders as a business, because they have experienced themselves the lack of capital. They were only trading futures if I can...
This is true also.

Maybe someone can dig it up and post it here.

In the meantime I'll keep searching.

Masterrmind............
Master your Mind then Master your Trades
  • #8,802
  • Jun 27, 2022 3:47am Jun 27, 2022 3:47am
Quoting Masterrmind
{quote} Exactly right. Unfortunately, I have been unable to find that photo to add credit to my post. I'm sure it will turn up sooner or later and when I find it I shall post it. Masterrmind...........

You will continue searching but having 20 pcs with multiple monitors does not mean you are trading in the markets. I can send you a nice pic of most bucketshops that show the support desk having multiple charts on multiple monitors. We can start with ironfx and work our way down.

Random walk states that at some point every trader will lose their shirt. If you are a firm that is using "prop trading" in the long term to discover alpha, at some point you will lose your shirt. Whereas, bucketing all the orders and taking money from fees is pretty much a sure fire way to make money so long as you do not have to refund everyone for your own mistakes like funding talent had to ultimately killing the profit stream and making them stop make money.

The Alpha generated from just bucketing is far superior than having some nerds at a trading desk executing trades and saying "we prop traders now". Also, given the sheer size of FTMO, MFF and maybe one or two others, there is no way to send enough size to the market to cover your book in any way. You would literally be capped at like 5% book size in execution and if that 5% loses you are just increasing your losses significantly.

FTMO and MFF both have as much volume as the biggest brokers in the world and they appear to achieve it in a much more aggressive way, there is no meat on the bone there even if you believe you have a directional edge, simple fills will be very difficult and if you were to try to execute those types of fills and beat spread you are likely going to get chewed on by the LP's.

The safest, most profitable and smartest way for these firms to operate is to be against their book always with no bells or whistles attached. Anything else is just throwing money into the toilet.

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  • #8,803
  • Jun 27, 2022 4:04am Jun 27, 2022 4:04am
Quoting Takisd
{quote} You will continue searching but having 20 pcs with multiple monitors does not mean you are trading in the markets. I can send you a nice pic of most bucketshops that show the support desk having multiple charts on multiple monitors. We can start with ironfx and work our way down. Random walk states that at some point every trader will lose their shirt. If you are a firm that is using "prop trading" in the long term to discover alpha, at some point you will lose your shirt. Whereas, bucketing all the orders and taking money from fees...
There is more to it than a pic.

What risk they place on traders in the 'trading room' is their own business and this is not about that per se although interesting nonetheless.

I believe Otakar the CEO made some commentary about it in a short video or some type of communication.

In any case, if I can't find the info then please ignore.

Even though I believe strongly that it was mentioned.

Masterrmind ............
Master your Mind then Master your Trades
  • #8,804
  • Jun 27, 2022 4:14am Jun 27, 2022 4:14am
Quoting Masterrmind
{quote} This is true also. Maybe someone can dig it up and post it here. In the meantime I'll keep searching. Masterrmind............
Maybe we can ask in the FTMO thread directly?
You can reach me on Telegram @ KramerFx
  • #8,805
  • Jun 27, 2022 5:00am Jun 27, 2022 5:00am
FTMO CEO Otakar Suffner.
https://funded-trader.com/2019/02/07...takar-suffner/

Here is the meat:
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I rest my case.

Good trading,

Masterrmind.............
Master your Mind then Master your Trades
  • #8,806
  • Jun 27, 2022 5:40am Jun 27, 2022 5:40am
Quoting Masterrmind
FTMO CEO Otakar Suffner. https://funded-trader.com/2019/02/07...takar-suffner/ Here is the meat: {image}I rest my case. Good trading, Masterrmind.............
...

and the final nail in the coffin ...
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Masterrmind ..........
Master your Mind then Master your Trades
  • #8,807
  • Jun 27, 2022 6:57am Jun 27, 2022 6:57am
Quoting Masterrmind
{quote} ... and the final nail in the coffin ... {image}Masterrmind ..........

lol. I am not sure if you are being sarcastic or..... Perhaps you missed the dates of these "plans".
  • #8,808
  • Jun 27, 2022 7:14am Jun 27, 2022 7:14am
That's some years old and we haven't heard anything about it.
I doubt that these firms want/have the capacity to ever go through the hurdles of the financial regulation nightmare.
And in some countries, besides the brutal regulation, traders need to have a license like SIE and Series 57 exams.
  • #8,809
  • Jun 27, 2022 7:59am Jun 27, 2022 7:59am
Quoting Takisd
{quote} lol. I am not sure if you are being sarcastic or..... Perhaps you missed the dates of these "plans".
I think we can leave it at that !

Have a pleasant evening.

Masterrmind........
Master your Mind then Master your Trades
  • #8,810
  • Jun 27, 2022 8:34am Jun 27, 2022 8:34am
Quoting Capablanca
That's some years old and we haven't heard anything about it. I doubt that these firms want/have the capacity to ever go through the hurdles of the financial regulation nightmare. And in some countries, besides the brutal regulation, traders need to have a license like SIE and Series 57 exams.

Hong Kong is like the least likely place a foreign company will be able to set up a brand new prop firm. The EU is the least likely regulation to obtain licensing from a central bank. Regardless, I still love FTMO for the money I have made from them and I don't think they need any of these things. They also remove 4 star reviews on trustpilot which i find is like the most funny thing. Trustpilot in generally is a wasteland of crap but to see someone going out of their way to remove even good reviews to maintain a higher rating is quite funny.
  • #8,811
  • Jun 27, 2022 10:11am Jun 27, 2022 10:11am
Quoting Takisd
They also remove 4 star reviews on trustpilot which i find is like the most funny thing. Trustpilot in generally is a wasteland of crap but to see someone going out of their way to remove even good reviews to maintain a higher rating is quite funny.
How can a company remove classifications from TrustPilot ?
  • #8,812
  • Jun 27, 2022 10:46am Jun 27, 2022 10:46am
Quoting Capablanca
{quote} How can a company remove classifications from TrustPilot ?

First you wait for the review to be old enough that the user wont return. Then you request user information, if the user doesn't respond you can flag it as not a genuine experience and then if they don't provide proof they used your services in a certain time frame, the review is removed.

This process is to prevent people spamming negative reviews without proof. But it also means you can greatly manipulate your review rating by flagging old reviews. Look at toptier.. Its the biggest piece of shit ever, run by a known scammer and has 4.9 rating on trustpilot. But all the bad reviews proved they had an account the good ones are fluff. Most of the bad ones highlight server problems, false violations etc with catty responses.

Thefundedtrader are aggressive on deleting anything negative about them as well, and since that stupid vlog thefundedtrader did now showcased toptier for some reason as well as cue banks circle jerking I start to wonder if they are affiliated.
  • #8,813
  • Jun 27, 2022 12:18pm Jun 27, 2022 12:18pm
Quoting Capablanca
I doubt that these firms want/have the capacity to ever go through the hurdles of the financial regulation nightmare. And in some countries, besides the brutal regulation, traders need to have a license like SIE and Series 57 exams.
-Agreed. No reason to do this unless they are forced to. And if that happens, we would likely see many firms 'relocating'.

These firms likely do not even need to place real trades in most cases. And even if they wanted to, they would not need good traders in order to do that, since all they would need is a lot of trading data, which they already have access to.
  • #8,814
  • Jun 28, 2022 4:15am Jun 28, 2022 4:15am
I am officially dumping my fundedtrader account. The conditions are shit and whilst I like to "rob the bank" its just not worth the effort anymore.

Are there any worthy evaluation type models from companies other than trueforexfunds and e8 (i dont feel they are worthy) ? And please don't say fundednext, I want something legit. Preferably someone who doesnt use eightcap, that would be awesome.
  • #8,815
  • Jun 28, 2022 4:34am Jun 28, 2022 4:34am
Quoting Takisd
I am officially dumping my fundedtrader account. The conditions are shit and whilst I like to "rob the bank" its just not worth the effort anymore. Are there any worthy evaluation type models from companies other than trueforexfunds and e8 (i dont feel they are worthy) ? And please don't say fundednext, I want something legit. Preferably someone who doesnt use eightcap, that would be awesome.

Since December I received 8 payouts (and also some fee refunds) from The Prop Trading.
However customer service is absolutely horrible and their rules are designed to trick you into doing a mistake and lose the account (like 5 lots max in first 3 months of 100K accounts). I just use them as diversification.
They have no commissions but spreads are wider. Enclosed an example taken right now (10:30 am London time).
I made a review here. Pretty much updated, although they changed to biweekly after the first payout.

The thing is that when we go out of FTMO and MFF there's not much where to chose.

Btw, why do you think TFT deteriorated ?
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  • #8,816
  • Jun 28, 2022 7:59am Jun 28, 2022 7:59am
I don't go often to the dashboard but just noticed that True Forex has a new dashboard. Seems pretty nice.
  • #8,817
  • Jun 28, 2022 11:05am Jun 28, 2022 11:05am
I think, this thread can discuss only about FTMO and MFF.

This way, the prop traders who want to try out, can avoid choosing wrong prop firms.

All other firms...different people have different reviews.
Intraday only.
  • #8,818
  • Jun 28, 2022 11:15am Jun 28, 2022 11:15am
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Found this on forexpropreviews.com. Cannot find TFF "official" published stats
  • #8,819
  • Jun 28, 2022 11:22am Jun 28, 2022 11:22am
Quoting pipmaster77
{image}Found this on forexpropreviews.com. Cannot find TFF "official" published stats
Some one will put a bad review about TFF also.

I am with TFF with strong mind.
Intraday only.
  • #8,820
  • Jun 28, 2022 11:32am Jun 28, 2022 11:32am
Quoting navk
I think, this thread can discuss only about FTMO and MFF. This way, the prop traders who want to try out, can avoid choosing wrong prop firms. All other firms...different people have different reviews.
Yes, I still 100% agree max out FTMO and MFF before needing any others. After that, I personally really like TFF. E8 seems like a good possibility, I was considering The Funded Trader but recent feedback has me reconsidering. I believe those that are new to the prop firm space should absolutely uses the resources and feedback in this thread. Nobody here has any type of hidden agenda, thos e that do we pretty much call out immediately....they are easy to spot.
Those new to the space and/or considering prop trading.....

1. Use TrAndy spreadsheet of scoring, choose a firm or firms with higher scores. This score reflects how much more value you are receiving for what you are
paying.....among the trusted firms, FTMO is lowest at 3.1, anything under that should be immediately disregarded, especially those under 1 (aka direct funding), as you are PAYING for more than what you are receiving.

2. IMO, choose a firm with their own server. There is some conflicting info on this. We know for sure, FTMO and MFF have their own. TFF and E8 claim their own, but as I stated, some conflicting info on this.

3. Read reviews on this thread from ACTUAL users of trading conditions and ease of use (credentials being sent, hidden rules, timely withdrawals, etc.)

Obviously, first and foremost, be sure they are paying, all firms mentioned IN THIS POST pay.
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