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Anyone trading with a Prop firm 31 replies

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  • #9,121
  • Edited 12:33pm Jul 7, 2022 11:57am | Edited 12:33pm
Quoting Capablanca
{quote} Despite cheaper, they pay 60% profit. Apparently they only accept crypto as payment. The offer is abasically a copy. How do you know it's a white label of BluFx ?
My guts tells me this, because they copied them too much. I do not know it for sure. Do not even know if you can see that for 100% sure without asking them explicitly.
Score is fantastic with being at 12, because you get $3000 max DD after 60% split with no challenge to be made, just instant funding. But you have only 3:1 leverage. It is the best direct funding model I have seen. They must be new to the prop firm market. Have not seen much marketing, found them rather randomly on a search.
The bad thing is, that it is monthly subscription model like BluFX ones. So with the low leverage, it is not that easy to catch that initial score of 12. Difficult to value it.
Scaling is without withdraws. So it is basically 1:1, you make 10% with 10%DD. Only the last scaling step from 200k to 1000k is looking generous, that looks not bad.
In sum you need to make 30% with 3:1 leverage to get a 100k DD. Then you can trade ca. 30 lots. Easiest based on vola would be trading Gold to catch those profits.
  • #9,122
  • Jul 7, 2022 12:49pm Jul 7, 2022 12:49pm
So I decided to inquire with metaquotes about getting metatrader 4, just for curiosities sake. Impossible. And despite talking to a close friend who works there in senior levels, aggressively impossible.

So my question for you all. If a prop firm only has mt5, is it a dealbreaker?
  • #9,123
  • Jul 7, 2022 12:54pm Jul 7, 2022 12:54pm
Quoting Takisd
So I decided to inquire with metaquotes about getting metatrader 4, just for curiosities sake. Impossible. And despite talking to a close friend who works there in senior levels, aggressively impossible. So my question for you all. If a prop firm only has mt5, is it a dealbreaker?
Do not like MT4 for various reasons. MT5 is better, but a dealbreaker for me would be if they have cTrader as platform. The best trading platform to trade with I would say. TruTraderFund is offering cTrader together with LMAX as broker. That is a good combination. But you cannot use any EA and they do not allow any copy trading too.
  • #9,124
  • Jul 7, 2022 12:57pm Jul 7, 2022 12:57pm
Quoting Takisd
So I decided to inquire with metaquotes about getting metatrader 4, just for curiosities sake. Impossible. And despite talking to a close friend who works there in senior levels, aggressively impossible. So my question for you all. If a prop firm only has mt5, is it a dealbreaker?
If need be, what ever i use on mt4 can be converted to mt5 thats how 5%r is but for previous reasons stated about drawdown max vs fee to play, i wont be using them anyways
  • #9,125
  • Jul 7, 2022 1:02pm Jul 7, 2022 1:02pm
Quoting Takisd
So I decided to inquire with metaquotes about getting metatrader 4, just for curiosities sake. Impossible. And despite talking to a close friend who works there in senior levels, aggressively impossible. So my question for you all. If a prop firm only has mt5, is it a dealbreaker?
I don't bother MT4 or MT5.
I have ctrader in ICMarkets and I like it, although the reports are better and cleaner, IMO, in MT
  • #9,126
  • Jul 7, 2022 2:05pm Jul 7, 2022 2:05pm
Quoting Takisd
So I decided to inquire with metaquotes about getting metatrader 4, just for curiosities sake. Impossible. And despite talking to a close friend who works there in senior levels, aggressively impossible. So my question for you all. If a prop firm only has mt5, is it a dealbreaker?
For me, unfortunately yes. I'd have way too much to re-code. I have tools that allow me to do complicated things with just a click. Not too keen on changing things up.
  • #9,127
  • Jul 7, 2022 2:24pm Jul 7, 2022 2:24pm
FYI
Inserted Video
  • #9,128
  • Edited 2:43pm Jul 7, 2022 2:29pm | Edited 2:43pm
Quoting maximusa
HELLO everyone ... please anyone tried https://fundyourfx.com ?? they really legit and good ? trustpilot and trustindex very good reviews .. i will be happy if anyone tried them and good things about they.
Quoting maximusa
yes its easier to pass as there no chellenge right .. but only 50%-50% split . ok but important is we need make sure if they really legit and really good .. i want make sure about in they very new and very few reviews in internet
-They have some rules that may be designed with ill-intent. For example, the maximum lot size rules relative to account balance. A violation of this rule will result in account termination. They also require a stop-loss attached to every order with no mention of adding a stop-loss within a given amount of time as being acceptable.

If you consider these points, and also look at the draw-down allowance vs. cost of fee, as well as the fact that they do not require any sort of challenge and all traders are supposedly placed on live accounts from the start, it seems very questionable to me.
  • #9,129
  • Jul 7, 2022 2:33pm Jul 7, 2022 2:33pm
Quoting Takisd
So I decided to inquire with metaquotes about getting metatrader 4, just for curiosities sake. Impossible. And despite talking to a close friend who works there in senior levels, aggressively impossible. So my question for you all. If a prop firm only has mt5, is it a dealbreaker?
-Trade copiers can sometimes be used. But for me, I trade in a way that allows me to use either/or. I forced myself to not rely too heavily on something that I cannot continue to use indefinitely.
  • #9,130
  • Jul 7, 2022 2:58pm Jul 7, 2022 2:58pm
One more record for FTMO 700K profit
Attached Image (click to enlarge)
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  • #9,131
  • Jul 7, 2022 3:09pm Jul 7, 2022 3:09pm
Quoting sampat
One more record for FTMO 700K profit {image}
Wow, someone is going to be an overnight millionaire one day soon. Yet, we still have people coming into this thread and saying "yeah, but....it's a scam....boohoo."
  • #9,132
  • Jul 7, 2022 3:39pm Jul 7, 2022 3:39pm
Quoting TrAndy1
FYI https://www.youtube.com/watch?v=WC86fMm7rbo

Wouldn't trust these guys with a bag of dicks let alone a 250/month subscription.
  • #9,133
  • Jul 7, 2022 4:17pm Jul 7, 2022 4:17pm
To be honest I am tempted to try TruTraderfund, but not very soon. They say: "You Can Also Pay Your Subscription With Your Profits !" and ONLY $99 reset fee if failed.
  • #9,134
  • Jul 7, 2022 4:25pm Jul 7, 2022 4:25pm
Quoting TrAndy1
To be honest I am tempted to try TruTraderfund, but not very soon. They say: "You Can Also Pay Your Subscription With Your Profits !" and ONLY $99 reset fee if failed.
Maybe you'll get invited to the next party! https://www.tiktok.com/@rydallficks/...32926225730822
  • #9,135
  • Jul 7, 2022 4:42pm Jul 7, 2022 4:42pm
Quoting MoxFulder
{quote} Maybe you'll get invited to the next party! https://www.tiktok.com/@rydallficks/...32926225730822
Oh yeah, they definitely look like they are qualified to run a prop firm. I am sending them my $$$$$$$ immediately.
  • #9,136
  • Jul 7, 2022 4:42pm Jul 7, 2022 4:42pm
Quoting MoxFulder
{quote} Maybe you'll get invited to the next party! https://www.tiktok.com/@rydallficks/...32926225730822
They just started two weeks ago. Therefore that party. And I would not fly to South Africa for that.
  • #9,137
  • Jul 7, 2022 4:56pm Jul 7, 2022 4:56pm
Quoting pipmaster77
{quote} Oh yeah, they definitely look like they are qualified to run a prop firm. I am sending them my $$$$$$$ immediately.

frowny face.
  • #9,138
  • Jul 7, 2022 4:56pm Jul 7, 2022 4:56pm
So in addition to good value for us (the trader), when I evaluate a company it must make sense to me how they generate profit as well. It has to be a balance of the two. You obviously want the company you are getting paid from to be profitable so they can keep paying you. If a company is giving me great value but I cannot see how they possible make a profit, well that is just as bad as the company not giving me good value. 2 reasons:
1. It is probably a scam
2. If not #1, they have no idea what they are doing and will lose money, therefore not sustainable.
This is the reason "direct funding" is not a good value to the trader. If it were and they were giving more allowable loss than the fee they collect, how would they make money? If there are no failed challenge fees and they are allowing losses greater than what you have paid them.......how do they possibly make money?
  • #9,139
  • Jul 7, 2022 5:04pm Jul 7, 2022 5:04pm
Quoting pipmaster77
So in addition to good value for us (the trader), when I evaluate a company it must make sense to me how they generate profit as well. It has to be a balance of the two. You obviously want the company you are getting paid from to be profitable so they can keep paying you. If a company is giving me great value but I cannot see how they possible make a profit, well that is just as bad as the company not giving me good value. 2 reasons: 1. It is probably a scam 2. If not #1, they have no idea what they are doing and will lose money, therefore not sustainable....

Waiting for the day someone makes a direct funding withdraw any time (with a reasonable minimum of course like 100$) and you just like make money hit withdraw take your share on to the next one

Its potentially something that could work with an STP model as its built around getting the money out faster but you would have to ban grid/martingale and that kind of behavior. If you took the Finotive model with the open trade number and dd calcs and applied it to a direct funding at a 50/50 i think it could work as a prop firm and those who are more gamble centric could be a positive to a firm.
  • #9,140
  • Jul 7, 2022 6:34pm Jul 7, 2022 6:34pm
Quoting sampat
One more record for FTMO 700K profit {image}
Nice! Hope to be there someday myself.
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