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  • #9,521
  • Jul 23, 2022 12:12pm Jul 23, 2022 12:12pm
Quoting Bizziebee
Also if you fail you get another chance. That is good. No other prop firm give you another chance for free if you fail.
-Yeah. You will have to choose that bonus before your challenge. Personally, I like the free account bonus.
  • #9,522
  • Jul 23, 2022 12:21pm Jul 23, 2022 12:21pm
Quoting Bizziebee
{quote} I was looking at their new offer. Looks very good I think. Aggresive option give much larger drawdown limits. Also if you fail you can get another chance if you choose that option. That is good. No other prop firm give you another chance for free if you fail.
Don't know what broker they use or what trading conditions are like of course. Will try to get a list of spreads.

Also I see they offer 50% profit split on verification target. It is 15% so you have to be a good trader!
  • #9,523
  • Jul 23, 2022 12:23pm Jul 23, 2022 12:23pm
Quoting TrAndy1
On one side I think the same. I think how would they handle that ?
-Yes. The risk-exposure becomes very high. That should be a concern for all parties.
  • #9,524
  • Jul 23, 2022 1:12pm Jul 23, 2022 1:12pm
Quoting TrAndy1
{quote} Yes, I would admit that. I am changing my mind again. I would not take this offer right now. If I see they grow and have bigger payouts, maybe. But he was also that pissed off and harsh in his words when I asked some uncomfortable questions for him about the overall max. Drawdown, that I can get only the conclusion that is meant to be a kind of hidden rule as a surprise to let the traders fail, when they come up with a different expected interpretation of that. It does not make sense to me why they cannot just write the overall max. DD is...
Thanks for sharing and for the patience to nail that guy. Clearly not suited to customer service or not willing to clearly reply to questions.

Also shows that they want to have an hidden rule or they lack experience in the area. Those doubts of yours are the ones that anyone with a bit of experience also has. We keep talking about them here, over and over again. It's annoying that noobs come to stablish themselves and don't do the basic work.
  • #9,525
  • Jul 23, 2022 1:17pm Jul 23, 2022 1:17pm
Quoting Nsak3y
Hopefully, any traders that give this firm any serious consideration would be wise to use a payment gateway that has a charge-back option.
I think you touched in a very important topic which I haven't seen discussed since I joined here (I must say I haven't read everything back in the topic).

Would you guys share your experiences on that ?
I was able to charge back in Paypal and in Wise.
Anyone has experience with Revolut ? (which is one that I also use from time to time)
Others ?
  • #9,526
  • Edited 1:47pm Jul 23, 2022 1:29pm | Edited 1:47pm
Quoting Capablanca
{quote} I think you touched in a very important topic which I haven't seen discussed since I joined here (I must say I haven't read everything back in the topic). Would you guys share your experiences on that ? I was able to charge back in Paypal and in Wise. Anyone has experience with Revolut ? (which is one that I also use from time to time) Others ?
From my experience Paypal has the best charge back option. With credit card payments only it can be a nightmare to get your money back. You need to do a lot of paperwork and need to have good arguments etc. But with paypal you only need to complain little bit and then you get easily everything back. It is really that easy here.
  • #9,527
  • Jul 23, 2022 1:31pm Jul 23, 2022 1:31pm
Quoting simjo
Does anyone have experience with this? https://fidelcrest.com/programs/prot...rading-program numbers looks good
They are legit and long time established. However this seems to be trailing drawdown which is bad:

Quote
This rule can also be called “account stop-loss”. Maximum Loss is the difference between your highest recorded balance and your current equity.
https://fidelcrest.com/programs/prot...rading-program
  • #9,528
  • Jul 23, 2022 1:32pm Jul 23, 2022 1:32pm
Quoting TrAndy1
{quote} From my experience Paypal has the beast charge back option. With credit card payments only it can be a nightmare to get your money back. You need to a lot of paperwork and need to have good arguments etc. But with paypal you only need to complain little bit and then you get easily everything back. It is really that easy here.
Yep, Paypal is very easy but as some companies don't have paypal I was wondering if anyone has experiences with international platform like Revolut, Wise, etc.
On Wise I was able to charge back the scam from The Trading Capital
  • #9,529
  • Edited 2:09pm Jul 23, 2022 1:39pm | Edited 2:09pm
Quoting Capablanca
{quote} Yep, Paypal is very easy but as some companies don't have paypal I was wondering if anyone has experiences with international platform like Revolut, Wise, etc. On Wise I was able to charge back the scam from The Trading Capital
Based on my experience you always get your money back from all kind of payments made online. But they differ how much you must complain and do something. If there is any kind of scam/fraud they are legally be binded to charge back your payments, otherwise they could be sued too. So it is only a matter of paperwork amount.
  • #9,530
  • Jul 23, 2022 2:29pm Jul 23, 2022 2:29pm
Quoting Capablanca
Would you guys share your experiences on that ?
-I personally do not have experience (yet... knock on wood). I think that it may be a little double-edged, though, because there are likely many opportunists that would try to take advantage and abuse it, which could force firms to resort to less-desirable and/or limited payment methods (or worse).

Worse-case scenario (with rampant abuse) might be that it creates some kind of spotlight, where various payment gateways and credit card companies start banning those types of purchases, or even worse... we get some kind of protect-us-from-ourselves legislation passed.

It might be similar to what we see with most banks rejecting all-things-crypto, or like Coinbase blacklisting all-things-fx etc., which is all a bit hypocritical, if you ask me, but such actions/legislation could ultimately destroy any sort of protections that we might have when we actually need it, or, even worse, could force certain firms to start blocking various countries from participating. Basically, the same overreaching regulatory measures that we currently see with FX brokerages and crypto etc..

So, my hope would be that any charge-backs would be used wisely... only when warranted and necessary, and not when someone fails a challenge because they do not understand what slippage is or some other nonsensical reasoning.
  • #9,531
  • Edited 3:48pm Jul 23, 2022 3:11pm | Edited 3:48pm
I came to the conclusion GoatFundingFX really lacks of any experience and are not considering foulplay ex ante with any hidden rules. Because they allow really all stocks cfds on IC Markets to be traded. Even the MEME stocks like GME can be traded. Imagine going in all in one MEME stock with holding overnight and will full leverage of the prop firm right before the closing bell in USA and then there comes one huge gap of say +/-20% on the next morning. Such tail risks are not healthy.
Just to say in other words to make it even more clear, when you have a 500k account, then you can build up a stock cfd position of $10 million, because the margin for any stock cfd on IC Markets is just 5% for overnight included too. So when there is large gap overnight of 20% that can result in $2 million profits at once in one day.
It is like buying a cheap lottery ticket or making a huge bet but against the prop firm, because they must payout your profits in case you are on the right side of bet.
They must be that stupid or naive. Does it mean you do not get your payout ? No, I would say. But when their losses grow and grow I think they can get some cold feet in some way. And then they must find some accusations not to payout. So the trick for them is or would be to find even more stupid ones to stay in business. It is just that unbelievable how many fools are in the prop firm business on both sides. Within the prop firm and also their wannabe traders with no solid and proven trading plan.
  • #9,532
  • Jul 23, 2022 5:05pm Jul 23, 2022 5:05pm
Which any prop firm allows you to trade full leverage on red news without banning afterwards and also do payout the profits you made from the price jump in FX ? That is a kind of same insane bet tactics which can easily go against the prop firm. Because you can gain multiple times your account value within seconds when being right.
  • #9,533
  • Jul 23, 2022 5:53pm Jul 23, 2022 5:53pm
Quoting Nsak3y
{quote}-I personally do not have experience (yet... knock on wood). I think that it may be a little double-edged, though, because there are likely many opportunists that would try to take advantage and abuse it, which could force firms to resort to less-desirable and/or limited payment methods (or worse). Worse-case scenario (with rampant abuse) might be that it creates some kind of spotlight, where various payment gateways and credit card companies start banning those types of purchases, or even worse... we get some kind of protect-us-from-ourselves...
Yep, the idea is to request charge back only when necessary, of course. Myself I requested with Funding Talent (busted) and The Trading Capital (it's a scam). Totally justified.

I use always paypal when available but when not available I use either Wise or Revolut. I just asked because maybe there's someone with good experience with other payment methods widely available like Skrill, Neteller or such.

The ideia is not to use charge back but, if we have to, then better to have an easier one (when Paypal not available). Don't go to war but be prepared.
  • #9,534
  • Jul 23, 2022 9:38pm Jul 23, 2022 9:38pm
Anyone using The Funded Trader ?
currently i using eightcap broker , what do you think Purpeltrading broker slippage is same ? for mt4
thank you
  • #9,535
  • Jul 23, 2022 11:47pm Jul 23, 2022 11:47pm
Guys im planning to get an evaluation tomorrow on MFF. It doesn't let me register an account without actually paying. Let's say I'm done paying them the fee, what type of document I needed to send for KYC or verification.
  • #9,536
  • Jul 24, 2022 12:04am Jul 24, 2022 12:04am
Quoting Capablanca
I just asked because maybe there's someone with good experience with other payment methods widely available like Skrill, Neteller or such. The ideia is not to use charge back but, if we have to, then better to have an easier one (when Paypal not available). Don't go to war but be prepared.
-Absolutely. It is a valid question.

Quoting KoyaAndy18
Guys im planning to get an evaluation tomorrow on MFF. ... what type of document I needed to send for KYC or verification.
-In your case, I would be more curious about how you plan on getting paid. Are you currently trading from the Phils? Not sure if the laws regarding trading have changed there, but just make sure that you do not get flagged through your bank or something.
  • #9,537
  • Jul 24, 2022 2:24am Jul 24, 2022 2:24am
i can choose btc or paypal. but i think my bank is fine, i was trading a small account on XM and Infinox a few months ago
  • #9,538
  • Jul 24, 2022 2:40am Jul 24, 2022 2:40am
Quoting HengkiTjen
Anyone using The Funded Trader ? currently i using eightcap broker , what do you think Purpeltrading broker slippage is same ? for mt4 thank you

I use them, of the ones I have its the worst slippage and service.
  • #9,539
  • Jul 24, 2022 2:55am Jul 24, 2022 2:55am
I think Daniel Savage has taught us that anything named GOAT should be auto blacklist.
  • #9,540
  • Jul 24, 2022 5:58am Jul 24, 2022 5:58am
Quoting KoyaAndy18
Guys im planning to get an evaluation tomorrow on MFF. It doesn't let me register an account without actually paying. Let's say I'm done paying them the fee, what type of document I needed to send for KYC or verification.
you have to pay to get registered.
Intraday only.
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