Prop Firm Hub | Page 482 | Crypto Craft

Options

Go to
Permalinks
Print Thread

Similar Threads

Anyone trading with a Prop firm 31 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

prop firm new model - my trading journey 871 replies

Attachments: Prop Firm Hub
Exit Attachments

Prop Firm Hub

  • #9,621
  • Jul 30, 2022 12:29pm Jul 30, 2022 12:29pm
Quoting TrAndy1
Confirmed that first time discount is ONLY for TFF and not other prop. So I updated the selective rank table again. This should be final selective rank for the next time. {image}
Here is one of the original posts.
  • #9,622
  • Jul 30, 2022 1:52pm Jul 30, 2022 1:52pm
Quoting Nsak3y
{quote}-There is also the Freestyle model. Although it is unique and has some advantages, it is quite restrictive compared to other offers in the space. They also have a 50-trade requirement for first withdrawal, which is not good.
They don't have it any more because of "excessive abuse" or some such bs. Basically people quickly opened and closed a lot of small trades that were positive to meet the positive trade % ratio and the 5ers decided that they don't like that.
  • #9,623
  • Jul 30, 2022 2:31pm Jul 30, 2022 2:31pm
Quoting muir
They don't have it any more because of "excessive abuse" or some such bs. Basically people quickly opened and closed a lot of small trades that were positive to meet the positive trade % ratio and the 5ers decided that they don't like that.
-Really? That seems... questionable. Surely they could have figured out some reasonable solution for that. Thanks for the info.
  • #9,624
  • Jul 30, 2022 4:53pm Jul 30, 2022 4:53pm
Quoting pipmaster77
{quote} {image}Must consider payouts, server, conditions and reviews as well. Even better, go by the first hand experience(s) from those of us using the firms. You want value, trustworthy, reliable, no hidden rules. There are 5-6 now that are viable options, with 2 being heads and shoulders above the rest. While I completely understand folks researching for new firms, it is NOT going to improve your chances of passing. No need to look past the big ones until you have MAXED THEM to full allocation.

There could be some companies with new ideas for me.

Trend Trading DNA has an interesting option. You start trading for your money when you achieve 3% increase of your balance. I do not know if they are reliable but this looks good, maybe too good to be true compared to the other prop firms.
  • #9,625
  • Jul 30, 2022 7:59pm Jul 30, 2022 7:59pm
Quoting Eren10
Trend Trading DNA has an interesting option.
-When I looked at this a while back, I thought that the offer looks really good, but that the website looks like it was built on a computer in a prison library. They have some iffy T&C's and are clearly set up to operate like a ponzi. Was not able to find anything regarding contract duration. They do offer paypal, so maybe someone will be brave enough to give it a try, but I wouldn't personally hold my breath on that.
  • #9,626
  • Jul 30, 2022 10:20pm Jul 30, 2022 10:20pm
Quoting pipmaster77
{quote} {image}Must consider payouts, server, conditions and reviews as well. Even better, go by the first hand experience(s) from those of us using the firms. You want value, trustworthy, reliable, no hidden rules. There are 5-6 now that are viable options, with 2 being heads and shoulders above the rest. While I completely understand folks researching for new firms, it is NOT going to improve your chances of passing. No need to look past the big ones until you have MAXED THEM to full allocation.
This mention TFT
Is The Funded Trader ?
  • #9,627
  • Jul 31, 2022 2:08am Jul 31, 2022 2:08am
I have updated Post 1 with the scam list initially provided in this thread by Takisd.

The list will be added too as other scam outfits come to light.

Should this list exceed 50 entries I will simply attach a document/spreadsheet that contains the list and update it moving forward.

If traders know or are aware of other scam Props or dodgy pass your challenge firms please let me know so I can add them to the list.

KramerFX has been placed on a 1 month ban from this thread starting today for reasons I hope are obvious.

Good trading,

Masterrmind .............
Master your Mind then Master your Trades
  • #9,628
  • Jul 31, 2022 4:12am Jul 31, 2022 4:12am
Quoting HengkiTjen
{quote} This mention TFT Is The Funded Trader ?
Yes.
  • #9,629
  • Edited 8:58am Jul 31, 2022 8:03am | Edited 8:58am
Quoting Masterrmind
I have updated Post 1 with the scam list initially provided in this thread by Takisd. The list will be added too as other scam outfits come to light. Should this list exceed 50 entries I will simply attach a document/spreadsheet that contains the list and update it moving forward. If traders know or are aware of other scam Props or dodgy pass your challenge firms please let me know so I can add them to the list. KramerFX has been placed on a 1 month ban from this thread starting today for reasons I hope are obvious. Good trading, Masterrmind ................
That list of dodgy pass your challenge service firms is quite long I would say. Within 5 min I found several more firms offering such scams. Here you can add them:

https://wepassprop.com/
https://www.passpropfirm.com/
https://www.peterfxpropfirmschallenge.com/
https://stackmyfunds.com/
https://forexpropfirm.com/challengepassed
https://ipassyouchallenge.com/
https://www.passyourchallenge.com/front1637247073799
https://www.robot4trade.com/pass
https://forexpropcapital.com/
https://t.me/passyourchallengefx
https://www.traderfunded.com/
https://wiseenterprise.teachable.com/p/ftmochallenge
https://www.challengecrushers.org/
https://www.theftmopasser.com/
https://ftmotraders.com/pricing/
https://www.smashtradingright.com/
https://www.primealgo.club/ftmo-trading
https://www.instagram.com/fundedchallengepass/

It is certainly not the end of scam offers. Just imagine that there is some demand because of so many desperated failed traders on tough challenges. But you wanted to have a list on your first page. So here you go. And these are only "pass your challenge scam service firms" and not scam prop firms themselves. Not the end by far... Such offers from firms are scams for sure because everyone who promises to pass challenges with such extraordinary high pass rates or any additional guarantees could do this on his/her own personal accounts and repeat this religiously and then via compounding get easily in the region of being a super rich or billionaire in no time. There is certainly no apparent/logical reason to offer a fortune for a penny to everyone. Such offers should make them always look suspicious if not fraudulent to you.
  • #9,630
  • Jul 31, 2022 9:25am Jul 31, 2022 9:25am
Quoting Nsak3y
{quote}-When I looked at this a while back, I thought that the offer looks really good, but that the website looks like it was built on a computer in a prison library. They have some iffy T&C's and are clearly set up to operate like a ponzi. Was not able to find anything regarding contract duration. They do offer paypal, so maybe someone will be brave enough to give it a try, but I wouldn't personally hold my breath on that.


I found it also strange good. But they offer low leverage. And you have to pass first 3% balance. This means actually if you pass this they have about 4000 dollar from you already.

Also this text is from their website :

Quote
We do not provide Funds for trading, we are not brokers and don’t receive deposits.
Has someone used them from here.

And does paypal payment offer some protection ?
  • #9,631
  • Edited 10:15am Jul 31, 2022 9:36am | Edited 10:15am
Quoting Eren10
{quote} I found it also strange good. But they offer low leverage. And you have to pass first 3% balance. This means actually if you pass this they have about 4000 dollar from you already. Also this text is from their website : {quote} Has someone used them from here. And does paypal payment offer some protection ?
There is still some risk even with paypal in case the firm is fraudulent itself. But Paypal offers by far the best refund policy in case anything goes wrong with that prop. But in some way it is good they offer Paypal as payment, because it means that they had not any or much refunds in the history. Otherwise I would say they would be blacklisted by paypal itself. And then you cannot choose that payment option anymore. Just be sure the paypal payment processor is true and not just picture copy of it. But other than refund there is still another possible outcome, if it is scam. They do the refund but they do not payout your profits when they are due so this is up to you.
  • #9,632
  • Jul 31, 2022 2:31pm Jul 31, 2022 2:31pm
Quoting Masterrmind
If traders know or are aware of other scam Props or dodgy pass your challenge firms please let me know
-I know that this was discussed already, but I am curious about what your thoughts are regarding this. For example, are you wanting people to provide you with any/all pass-your-challenge services that they discover, or, just the dodgy/scammy ones?

Because from my understanding, the general consensus seems to be that they all qualify as dodgy in some way. And if that is the case, I am curious as to what good providing a list would be in lieu of just slapping a big, red warning for traders to stay away from all PYC services... especially since providing a list of services may just be providing free publicity for them and anyone that is insistent on using them will be able to easily find them all from the list that you provide. Maybe better to provide a list of reasons why using these types of services could be a bad idea.

That being said, I definitely think that providing a list of scam firms is a good idea, especially if we can include the reasoning for each (e.g. this firm has been reported for not giving payouts to some traders, or, this firm has been reported for having a review team that fails passed challenges etc.).
  • #9,633
  • Jul 31, 2022 3:02pm Jul 31, 2022 3:02pm
Quoting Eren10
But they offer low leverage. And you have to pass first 3% balance.
-Yes, but you can do some damage with 5X leverage on a 100K account. You could pass 3% on the first day, if you really wanted to. It seems that they offer an upgrade to 50X leverage for something like $450.

They have many 'upgrades' like this, that show that they are likely set up like a ponzi and may not ever have any real trading going on. They have an upgrade for EA usage and other things, also.

However, if you read their terms, it states that if you use an EA and you do not have at least 30% manual trades during your contract period (which does not seem to be defined anywhere, by the way), then they will charge you a fee and deduct money from your profit share each time:

"EA’s usage is allowed with additional payments, you can use utilities and other EA’s, however, if you use TRADING ROBOTS EA’s (EA’s that place trades automatically based on predefined criteria by third party creators) and you don’t have at least 30% of manual trades in your trading history (transaction-based not lot based percent), your each period profit share withdrawal will be charged with additional, $950 for a 50k account, and $1350 for a 100k account"
-Source

They also state that if your available margin drops below 130% at least 5x during your contract period, that they will charge you a $950 fee and deduct it from your profit share each time, even though they advertise that there are no lot size restrictions, and that you can trade as much as your equity and leverage allow. Hidden rules like this are no good:

"Unlimited risk and way above the maximum allowed the loss of 7% or 10% will be also if the trader’s margin is below 130% at least 5 times during the trading observed period and will be the subject of the same penalty of $950 on traders withdrawal for the observed trading period."
-Source

Quoting Eren10
And does paypal payment offer some protection ?
-The Paypal portal does seem to be working. The account listed on the portal is Snekius, which sounds a bit 'sneaky' to me. A quick google search yields a few possibilities.

Overall, I would avoid.
  • #9,634
  • Jul 31, 2022 3:57pm Jul 31, 2022 3:57pm
Quoting TrAndy1
{quote} There is still some risk even with paypal in case the firm is fraudulent itself. But Paypal offers by far the best refund policy in case anything goes wrong with that prop. But in some way it is good they offer Paypal as payment, because it means that they had not any or much refunds in the history. Otherwise I would say they would be blacklisted by paypal itself. And then you cannot choose that payment option anymore. Just be sure the paypal payment processor is true and not just picture copy of it. But other than refund there is still...
Totally agree.

PayPal although their fees suck, they are very good at providing fast refunds from dodgy operations.

So if a trader was tempted to trial as in pay a fee to a dodgy operations then only proceed if they provide PayPal as a payment option.

If not probably best to walk away.

Masterrmind..............
Master your Mind then Master your Trades
  • #9,635
  • Jul 31, 2022 5:13pm Jul 31, 2022 5:13pm
[quote=Masterrmind;14084490]{quote} So if a trader was tempted to trial as in pay a fee to a dodgy operations then only proceed if they provide PayPal as a payment option.

It is still beyond my comprehension with all of the discussion on this thread regarding firms that do pay, have great conditions, offer value to the trader.......why one would be tempted to pay a fee to a dodgy operation. Do you have 2.5 mil at the 5-6 firms that WE KNOW ARE PAYING WITHOUT ISSUE?
  • #9,636
  • Jul 31, 2022 10:32pm Jul 31, 2022 10:32pm
Quoting Eren10
{quote} There could be some companies with new ideas for me. Trend Trading DNA has an interesting option. You start trading for your money when you achieve 3% increase of your balance. I do not know if they are reliable but this looks good, maybe too good to be true compared to the other prop firms.
Trend trading DNA is no better than MFF.

Take 50000 challenge as an example:

TTD fee is $549 while MFF $299. If you consider MFF drawdown is 12% while for TTD it is 10%, then for same drawdown TTD fee is 220% of MFF'.
Although TTD profit target is 50% of MFF, its profit split is 60% vs 80% for MFF.
And TTD is trailing drawdown.TTD has lower leverage. It does not have extension and free retries as MFF.
When you weigh all these factors MFF is obviously better.
  • #9,637
  • Aug 1, 2022 6:05am Aug 1, 2022 6:05am
[quote=pipmaster77;14084520]
Quoting Masterrmind
{quote} So if a trader was tempted to trial as in pay a fee to a dodgy operations then only proceed if they provide PayPal as a payment option. It is still beyond my comprehension with all of the discussion on this thread regarding firms that do pay, have great conditions, offer value to the trader.......why one would be tempted to pay a fee to a dodgy operation. Do you have 2.5 mil at the 5-6 firms that WE KNOW ARE PAYING WITHOUT ISSUE?
Rented lambos and watch pics inside a watch store. Thats why people are tempted for these new firms.
  • #9,638
  • Aug 1, 2022 6:53am Aug 1, 2022 6:53am
[quote=pipmaster77;14084520]
Quoting Masterrmind
{quote} So if a trader was tempted to trial as in pay a fee to a dodgy operations then only proceed if they provide PayPal as a payment option. It is still beyond my comprehension with all of the discussion on this thread regarding firms that do pay, have great conditions, offer value to the trader.......why one would be tempted to pay a fee to a dodgy operation. Do you have 2.5 mil at the 5-6 firms that WE KNOW ARE PAYING WITHOUT ISSUE?
I agree in essence.

In fact I've always argued that maxing out the Top 2 should be a traders first preference and I still stand by that unless ofcourse their rules were to drastically change in which case another assessment might be necessary including the possibility of trading with other Props ranked high on the list.

For traders who simply don't like the top 2 firms then I would argue that traders in this space should always have a choice and if they want to try or persue other firms then they do so at a perceivably greater risk but it's their choice to do so.

The PayPal approach was mentioned because its a valid way to mitigate risk, in terms of the initial fee only, ofcourse the trader could very well be wasting their time attempting the less than preferred challenges with limited payout history.

There may well be other payment methods that protect purchases but PayPal stands out to me because I have used them in the past and therefore have experience in this space.

Perhaps a handy filter might be to reject the lesser known Props if they do not accept PayPal unless another payment method offered allows for protection from loss of fee from a scammy type operation.

In any case, the preferred approach will always be to Max out funding from the top 2 or 3 Prop Firms and as far as I know there is not one trader in this thread that has maxed out the Top 3 firms.

Good trading,

Masterrmind ............
Master your Mind then Master your Trades
  • #9,639
  • Aug 1, 2022 7:01am Aug 1, 2022 7:01am
[quote=Takisd;14085017]
Quoting pipmaster77
{quote} Rented lambos and watch pics inside a watch store. Thats why people are tempted for these new firms.
Lambos still look great!

My preference is one of these:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2022-07-15-22-01-09-64_40deb401b9ffe8e1df2f1cc5ba480b12.jpg Size: 542 KB
Masterrmind .............
Master your Mind then Master your Trades
  • #9,640
  • Aug 1, 2022 7:12am Aug 1, 2022 7:12am
Quoting Nsak3y
{quote}-I know that this was discussed already, but I am curious about what your thoughts are regarding this. For example, are you wanting people to provide you with any/all pass-your-challenge services that they discover, or, just the dodgy/scammy ones? Because from my understanding, the general consensus seems to be that they all qualify as dodgy in some way. And if that is the case, I am curious as to what good providing a list would be in lieu of just slapping a big, red warning for traders to stay away from all PYC services... especially since...
Just the ones that warrant a scam tag !

Obviously this is at the discretion of the trader providing the information.

I may revise the list based on my own research or the feedback received from other traders.

I would hope that other traders chime in especially in the case where they might think that such a firm should not be placed on the list.

This thread rocks because of all you guys input !

Masterrmind..............
Master your Mind then Master your Trades
166 traders viewing now