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  • #9,141
  • Jul 7, 2022 10:03pm Jul 7, 2022 10:03pm
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?
Deal breaker for me. Been using Meta4 for 15 years. I'm old and cranky and don't like change.
Pride always comes before destruction.... -Proverbs 16:18
  • #9,142
  • Jul 7, 2022 10:11pm Jul 7, 2022 10:11pm
Quoting sampat
One more record for FTMO 700K profit {image}
$700k on a 40k dd in 3 trading days this month, wow
Plan your trade, trade your plan
  • #9,143
  • Jul 7, 2022 10:23pm Jul 7, 2022 10:23pm
E8 interesting stats, fastest phase 1, phase 2, and overall funding:
Attached Image (click to enlarge)
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Plan your trade, trade your plan
  • #9,144
  • Edited 11:16pm Jul 7, 2022 10:51pm | Edited 11:16pm
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.
-Yes. This is exactly what I think when I look at firms like trutraderfund. There is no way that these guys are pushing all traders to a live market and giving them 5K draw-down for a $250 buy-in. Even IF they are able to get 1000 traders signed up, that is only 250K to work with. And since this firm does not have any daily draw-down limits, then they are at greater risk of getting hit by heavier payouts. I just do not see it.

The 5% profit requirement (actually 50%) for withdrawals and the 60/40 split is likely what they are banking on in terms of survival (and high failure insurance), but it may only take a few, good traders to wreck their entire firm.

Looks like they are only accepting crypto payments now. In the video, they spoke about being in S Africa. Not sure if they are setting up shop there, but that would seem highly questionable, if so.

I would be surprised if anyone reaches the 1M level. Not because traders cannot do it, but because it would leave them too exposed. In other words, I would not be surprised if they find ways to prevent it from happening. At the lower levels, the trader is fronting the additional draw-down protection, but at the 1M level, the firm is covering the bulk of it (roughly 35K vs 65K, if my math is correct). That means that traders will have 100K draw-down at that level, where the firm has 65K exposure. There is just no way.

If we look at this from a different perspective, then this is a 3-challenge model that offers the following:

Quote
100K maximum draw-down (no daily, relative or trailing draw-down)
Minimum trading days - 90
Maximum trading days - N/A
Phase 1 - 10% (100% actual)
Phase 2 - 10% (100% actual)
Phase 3 - 10% (100% actual)
Phase 4 - Funded/No targets, no 5% profit requirement for withdrawals and no subscription fee
Non-refundable fee - $750 minimum

Reset fee - $99
  • #9,145
  • Jul 8, 2022 1:42am Jul 8, 2022 1:42am
anyone tried fundyourfx or trutraderfund ? ? they good and legit ?
or anyone know legit prop firms without challenge ? thanks
  • #9,146
  • Edited 2:35am Jul 8, 2022 2:21am | Edited 2:35am
Quoting sampat
One more record for FTMO 700K profit {image}
I wonder why FTMO single payouts are all of the sudden getting so much bigger than prior year & MFF payouts.
  • #9,147
  • Jul 8, 2022 2:35am Jul 8, 2022 2:35am
Quoting maximusa
anyone tried fundyourfx or trutraderfund ? ?
-I would not try fundyourfx for the reasons previously stated.

Trutraderfund is also not good, in my opinion. For me, the 1M account is the only thing worthwhile, but that requires flipping the account 3 times with only 1:3 leverage. It is doable, but it will be a grind, especially since you will have to wait a full month each time your account is upgraded (so 90 days minimum to reach the 1M account). Even if you are good enough (and patient enough) to do that, you will then have to hope that they pay out your profits when you are rocking a 100K fixed draw-down.

Both companies are banking on high failure rates and are offering models that are designed to give them that.
  • #9,148
  • Jul 8, 2022 2:53am Jul 8, 2022 2:53am
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?
Thinking of jumping into the fray, takisd?

To answer your question, I much prefer MT4.

Btw, what did you learn about 8Cap in the course of your research? I'm curious why they seem to be cornering a big chunk of the market share in the prop-firm space. Is the deal they offer really hard to resist?
Amor Fati--F. Nietzsche
  • #9,149
  • Jul 8, 2022 3:39am Jul 8, 2022 3:39am
Quoting Nsak3y
{quote}-I would not try fundyourfx for the reasons previously stated. Trutraderfund is also not good, in my opinion. For me, the 1M account is the only thing worthwhile, but that requires flipping the account 3 times with only 1:3 leverage. It is doable, but it will be a grind, especially since you will have to wait a full month each time your account is upgraded (so 90 days minimum to reach the 1M account). Even if you are good enough (and patient enough) to do that, you will then have to hope that they pay out your profits when you are rocking...
And the reset is available but not granted. This may prevent you to restart again and banned you if you get, for example, to 200K and they see that you may be a threat.
  • #9,150
  • Jul 8, 2022 3:41am Jul 8, 2022 3:41am
Quoting CableJ
{quote} I wonder why FTMO single payouts are all of the sudden getting so much bigger than prior year & MFF payouts.
It's nice to see these payouts (assuming they are true) but scaring at the same time. Firms need to have a strong financial position when it comes to bigger payouts (which I believe it's the case with all this crazy volatility). It's probably easy to go bust if firms are undercapitalized.
  • #9,151
  • Edited 4:42am Jul 8, 2022 3:43am | Edited 4:42am
Anyone that achieved funded in TFF recently can update me on the process, please ?
How long are they taking now to send email congratulating for passing phase II and how long to have funded credentials ?

In the past this was very slow, had to send doc by email, etc. I remember someone saying that the process now is pretty much automatic.
  • #9,152
  • Jul 8, 2022 4:46am Jul 8, 2022 4:46am
The same old question, how do they profit, it cannot be, it is a scam...boohoo. If they are paying out, all is good. Just do not ask too many questions. For TruTraderFund (TTF) you could also ask BluFX the same question, how reasonable their business model is. And I think, BluFX are one of the oldest prop firms with a long history, so...
  • #9,153
  • Jul 8, 2022 4:48am Jul 8, 2022 4:48am
My only fear is that on the day when I already mastered my strategy and ready to buy Prop Firm Evaluation they're already bankrupt! lol...
Hey... skilled and profitable traders out there, leave some for us peasants...
  • #9,154
  • Jul 8, 2022 5:10am Jul 8, 2022 5:10am
Quoting doji
{quote} Thinking of jumping into the fray, takisd? To answer your question, I much prefer MT4. Btw, what did you learn about 8Cap in the course of your research? I'm curious why they seem to be cornering a big chunk of the market share in the prop-firm space. Is the deal they offer really hard to resist?

I used to work 3 streets from Eightcap long ago, they are awful awful people and an awful company. I dont trust anything from them ever. What they are offering is not hard to resist because its expensive as f. But no one can get a new mt4 and no broker who is legit will let you fill their servers with demo accounts unless you are over paying for the right.

Not thinking to join the fray, just bored. Its how i found this gem.

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Funded next posts fake payout screenshots also all the time in their discord. You can run the images and see the photoshopping. I think that we should be warning people against using them at this point.
  • #9,155
  • Jul 8, 2022 5:16am Jul 8, 2022 5:16am
Quoting TrAndy1
Just a question when you completed 5 trading days and profit goal in Phase 1 of MFF, how do you see in the dashboard where you can move to Phase 2. Do you need to write them or do I need to wait one more day, because I just made my small trade one hour ago and I still cannot see anything to move forward to Phase 2 in MFF...?
Last time I got from phase I to II was in April.
Checking my emails I see that I received the email congratulating for phase 1 on 8:27 am London time and received the credentials for Phase 2 the day after at 6:10 am. I can't remember but I think I did nothing to received new credentials.
  • #9,156
  • Jul 8, 2022 5:23am Jul 8, 2022 5:23am
Quoting Capablanca
{quote} Last time I got from phase I to II was in April. Checking my emails I see that I received the email congratulating for phase 1 on 8:27 am London time and received the credentials for Phase 2 the day after at 6:10 am. I can't remember but I think I did nothing to received new credentials.

You just hit the upgrade button on the dashboard and it sends you phase 2.
  • #9,157
  • Jul 8, 2022 5:53am Jul 8, 2022 5:53am
Quoting Nsak3y
{quote}-I would not try fundyourfx for the reasons previously stated. Trutraderfund is also not good, in my opinion. For me, the 1M account is the only thing worthwhile, but that requires flipping the account 3 times with only 1:3 leverage. It is doable, but it will be a grind, especially since you will have to wait a full month each time your account is upgraded (so 90 days minimum to reach the 1M account). Even if you are good enough (and patient enough) to do that, you will then have to hope that they pay out your profits when you are rocking...
well yeah i see ..
is there any really good prop firm without challenge ? ( without daily limit or target. ) as they shows us .. thanks
  • #9,158
  • Jul 8, 2022 6:46am Jul 8, 2022 6:46am
guys what about citytradersimperium or blufx ? ?
  • #9,159
  • Edited 7:49am Jul 8, 2022 7:16am | Edited 7:49am
Yeah, it just took me 1 splitted trade to pass phase 2 of MFF in about 1 hour. Now it begins to count on a funded account. Just to fill up the 5 min days now, that's it.
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  • #9,160
  • Jul 8, 2022 7:35am Jul 8, 2022 7:35am
Quoting symmtrytradr
E8 interesting stats, fastest phase 1, phase 2, and overall funding: {image}
Maybe I try them. Not trade Gold though!

Anyone know of discount code maybe still offered?
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