This method is more or less absolete now
The owls are not what they seem
prop firm new model - my trading journey 871 replies
Anyone trading with a Prop firm 2 replies
So I accepted a Prop Trading job in South Beach Miami 43 replies
DislikedThis aren't my words to be clear, CEO said this is the practise they chase and bann traders do opposite trades. The second one is large amounts trades one direction. I believe everyone should have one important thing in mind. If you got some edge and you know how to trade to make profits long-term it sounds useless but this practises are mostly used by traders who are affected with be rich quick and not having edge on real markets approach, for them I think it might have sense.Ignored
Disliked{quote} Exactly. This only makes sense for scammers who have money (for initial fees as they need 8 larger accounts to start) but are not able to make money by "normal" trading. Such groups already exist and have been profiting (partially) from this practice but are being detected and banned now So the method is not profitable anymoreIgnored
Disliked{quote} Who they? And why? Nobody made me believe this. And what traders believe is irrelevant anyways as the groups who perform these scams are anything but traders and they don't care about anyone else's opinion on this matterIgnored
Disliked{quote} Prop firms can use any excuse for not paying someone, scammer or not. They don't have to provide any evidence for anyone and there is no regulation. If you understand and admit that most of them are part of a ponzi scheme you can be much better prepared for how this will end for most of them. Once challenge fees dry up, so will payments to profitable traders. Some props will likely survive so diversifying your portfolio might be a good idea.Ignored
Disliked{quote} Prop firms can use any excuse for not paying someone, scammer or not. They don't have to provide any evidence for anyone and there is no regulation. If you understand and admit that most of them are part of a ponzi scheme you can be much better prepared for how this will end for most of them. Once challenge fees dry up, so will payments to profitable traders. Some props will likely survive so diversifying your portfolio might be a good idea.Ignored
Disliked{quote} Prop firms can use any excuse for not paying someone, scammer or not. They don't have to provide any evidence for anyone and there is no regulation. If you understand and admit that most of them are part of a ponzi scheme you can be much better prepared for how this will end for most of them. Once challenge fees dry up, so will payments to profitable traders. Some props will likely survive so diversifying your portfolio might be a good idea.Ignored
DislikedFrom another thread - regarding Bigpip funding: 1.Overall Drawdown 12%. Highest in any propfirm 2. Balance based daily drawdown 3.Biweekly payouts from the beginning 4.Quick payout processing (average 4hrs) and great customer service 5. 85% profit split from the beginning 6.Automation 7.No commissions 8.Reasonable spreads,minimum slippage 9.No hidden rules. Freedom in trading strategies 10.Ea's, Copy trading allowed Maybe worth a punt?Ignored
Disliked{quote} Sounds good but only 2 reviews on Trustpilot, no Discord and only 415 members on Telegram.Ignored
1. Per their FAQ, they seem to only accept crypto payments at this time.
(Chat clarified that credit card payments are also accepted and that the FAQ will be updated soon.)
2. Per their FAQ, account merging can only occur on accounts that have not been traded yet.
(Chat clarified that account merging can be done after each payout cycle, since the accounts given will be new.)
4. Per their FAQ, profit split is 85% on all funded accounts. However, the website's main page indicates that the profit split on the 1-phase model is only 70%.
(Chat confirmed that the profit splits vary between accounts - 85% for 2-phase and 70% for 1-phase models.)
5. Per their FAQ, 100% refund of fee is given on first-payout (which requires a minimum of 5-trading days on live). Most firms do not offer a refund on 1-step programs and the distinction is not clear.
(Chat confirmed that 100% refund of fee is offered for both 1-phase and 2-phase accounts.)
6. Information regarding payout options is not provided in the FAQ.
(Chat confirmed that payouts will be provided through crypto and Deel.)
7. Information regarding available trading platforms is not provided in the FAQ.
(Chat confirmed that only MT4 is offered at this time. There are plans to introduce MT5 in the near-future, but no definitive time-line.)
8. Information regarding broker offerings is not provided in the FAQ.
(Chat confirmed that broker offerings will be Eightcap and alpari.)
9. Information regarding trading instruments is not provided in the FAQ.
(Chat stated that demo login credentials for both brokers are available on their telegram group, where instruments and spreads can be viewed directly.)
DislikedFrom another thread - regarding Bigpip funding: 1.Overall Drawdown 12%. Highest in any propfirm 2. Balance based daily drawdown 3.Biweekly payouts from the beginning 4.Quick payout processing (average 4hrs) and great customer service 5. 85% profit split from the beginning 6.Automation 7.No commissions 8.Reasonable spreads,minimum slippage 9.No hidden rules. Freedom in trading strategies 10.Ea's, Copy trading allowed Maybe worth a punt?Ignored
Disliked{quote} I believe the larger ones (FTMO, MFF) have diversified to create other income streams and will survive. MFF is planning on opening their own brokerage. TFTP I believe will survive as well. I use all 3. I also use TFF and they are truly the only one I am concerned about. One would be crazy to NOT BE funneling as much profit into personal accounts to eventually exceed the funding from the props. At that point, of course, continue trading with the props and if/when they go bust, you are OK. A side note, being from the US..........brokers can...Ignored
Disliked{quote} I also use TFF and they are truly the only one I am concerned about.Ignored
Disliked{quote} They are definitely not scam. But not the best option to trade with either. I got several payouts from them but as soon as I earned a bit more (I mean just a little over 10k, nothing crazy) they started investigating me for having same trades as some other traders. But it was just recently when other prop firms banned groups of traders for trading on someone else's behalf so I assume it wasn't intentional, just a bad luck. It was resolved in the end but a disappointment remained. I guess I won't trade with them any longer as I trade indices...Ignored
Disliked{quote} Interesting chart is so popular First Class Forex Funds? anyone of you can comment about them? I see they use eightcap, with which commission rate for forex?Ignored
Disliked{quote} Did they provide any evidence or they just shut down your account ? And how did you convince them that you had nothing to do with those organized groups ?Ignored
Disliked{quote} It's a scam. I think Taskid already alerted about them and it's now widely know in telegram that they have stop paying and are not replying to messages.Ignored