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Anyone trading with a Prop firm 31 replies

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  • #13,861
  • Feb 8, 2023 2:35pm Feb 8, 2023 2:35pm
Quoting quinotaur
{quote} Regarding domain name and this is article from 2018, also .online domain name is more expensive then .com worldwide, use some google research if you post about the specialty you do not know anything about it 1.) .online is versatile The word ‘online’ is understood in over 24 languages around the world. Just as the word “pizza” has a direct translation in other languages, .online has the same meaning in multiple languages. This makes it a good choice for companies that plan to conduct business internationally. 2.) .online compliments businesses...
Just a quick question for you before I try your challenge. I open a 500k account place one perfect trade and make 100k in a week. How would you ever pay me that money where would you get that money from?

Regards
  • #13,862
  • Feb 8, 2023 3:35pm Feb 8, 2023 3:35pm
Quoting WhoopTrader
I was checking out Big Pip Funding as their account sizes seemed a bit off from what other props at 8Cap offer. So, I contacted 8Cap support and they said they don't have any relationship with them. Seems strange. Maybe they are just making demo accounts like other props did back in the day with IC Markets before they got booted off their servers. Stay vigilant!
I contacted 8cap support today as well and they confirmed they provide their trading environment and platform to BigPip Funding under an official agreement

If anyone needs a proof 8cap suggested sending an email to [email protected] and they will confirm it in written
Money is made by sitting, not trading
  • #13,863
  • Feb 8, 2023 3:43pm Feb 8, 2023 3:43pm
[quote=fxValue;14318997]{quote} Looks great but eightcap sucks wind the worse platform out there.[/quot]

Bro its not Eightcap its Gomarkets
  • #13,864
  • Feb 8, 2023 4:05pm Feb 8, 2023 4:05pm
Quoting Bizziebee
Well I just took a trial account and the spreads are actually very good. Gold- 10 pips Dow - 1.2 points and no commission
-Thanks for sharing.

Quoting Bizziebee
With the option to pay extra to ged rid of the DLL, they are most definitely an option IMHO.
-I think so. Time will tell.

Quoting Bizziebee
Downside: 1/ Trailing max drawdown 2/ If you make the target in one day, you can't trade microlots for the remaining days
-The max DD can be set to static, though. For me, the downsides are as follows:

1. The are very new, so lacking in large payout proofs.

2. They have changed their offerings quite a few times and still have not seemed to settle in yet.


One interesting thing about this firm is that they claim to have access to large investor funds and are looking to pair consistent traders with very large capital (30M-100M, supposedly). Whether or not that is true is unknown, but you would likely have to keep your account for a minimum of one year in order to qualify, I believe they said. They have a video on youtube about it. They have certainly made efforts to seem as if they genuinely want their traders to succeed.

I will also note that they didn't always have the option to remove max risk per trade/max total risk until I asked for it. It took some back-and-forth explaining, but they eventually agreed with my reasoning, which is nice.

To be clear, though, I do not vouch for this firm; it is just a firm that I am excited about. I know that some members like to think that some here are conspiring as secret affiliates for these firms or some nonsense.
  • #13,865
  • Feb 8, 2023 5:14pm Feb 8, 2023 5:14pm
Quoting Nsak3y
{quote}-Looks like they have a similar scheme as Ment Funding, where your profits essentially serve as your draw-down once you reach a certain point, and if you withdraw all of your profits, you can literally violate the draw-down and face account closure. It should be noted that the challenge fee is not refundable. Not uncommon for this kind of model, but something that traders should be aware of. Thanks for sharing.
like FTP also
in holiday till end of November
  • #13,866
  • Feb 8, 2023 5:52pm Feb 8, 2023 5:52pm
Quoting Bizziebee
{quote} TWE look OK but I'm not sure about the broker Go markets? Spreads and commissions? Also on the website it says leverage offered on Hare account is 1:30 and further down the page it says 1:50 ! One thing I do like is that one can pay an extra fee (around $70) to remove the daily loss limit. That is worth taking if one does go for them
Had trading accounts with GO Markets since 2005/6. They are OK with good support. Different Jurisdictions (Australia/Mauritius), have accounts with both. They had a bad patch for customer service many years ago but sorted it out and now are reasonably good. Never had any payment issues.

Cheers
maahome
  • #13,867
  • Feb 9, 2023 12:04am Feb 9, 2023 12:04am
Quoting Capablanca
Beware about your trading style / pattern in MyFundedFx. Just saw Telegram print screens of a guy whose payout was put on hold and was asked (by the CEO) if he was trading in other prop firms. They wanted his authorization to check the history in other firms We put the print screens in the group and they made a fuss in the group, MFFx CEO was brutally flogged and they immediately paid him (what a coincidence - being on hold for 2 days and just after all the fuss he was paid). Their CEO finds this natural. "Basic questions" like asking permission...
I don't understand.

What was the issue?
Pride always comes before destruction.... -Proverbs 16:18
  • #13,868
  • Feb 9, 2023 12:47am Feb 9, 2023 12:47am
Quoting Expo33
{quote} I don't understand. What was the issue?
Payout was put on hold for investigation. The suspicion was his trading history and they asked him authorization to check his trade history in other prop firms where he is trading.
  • #13,869
  • Feb 9, 2023 1:23am Feb 9, 2023 1:23am
Quoting fxValue
{quote} Just a quick question for you before I try your challenge. I open a 500k account place one perfect trade and make 100k in a week. How would you ever pay me that money where would you get that money from? Regards
They have chat, and email, very responsive support as it has been noticed already by many...so that is where the right address for the question is
  • #13,870
  • Feb 9, 2023 2:01am Feb 9, 2023 2:01am
Quoting forexbali
{quote} like FTP also
I'm with them also, doing an advanced programme. Still on the 1st phase but just chilling... pulling in 0.2% to 0.5% everyday I like what I see so far.. zero bollocks.
  • #13,871
  • Feb 9, 2023 4:15am Feb 9, 2023 4:15am
Quoting Capablanca
{quote} Payout was put on hold for investigation. The suspicion was his trading history and they asked him authorization to check his trade history in other prop firms where he is trading.
It was a big payout ?

Do they have the right to make such requests ?

I increasingly feel that winning traders are not welcome
  • #13,872
  • Feb 9, 2023 4:51am Feb 9, 2023 4:51am
Quoting Nehemah
{quote} It was a big payout ? Do they have the right to make such requests ? I increasingly feel that winning traders are not welcome
$7.350

They have the right of asking us to dress of Santa Claus while trading. The point is what do they do if we refuse.

I'm joking but they have clausules of compliance which can open the door for any request like this. I wonder what would have happened if this guy was not so vocal and hadn't made a fuss in the group.
  • #13,873
  • Feb 9, 2023 5:19am Feb 9, 2023 5:19am
Quoting Capablanca
{quote} $7.350 They have the right of asking us to dress of Santa Claus while trading. The point is what do they do if we refuse. I'm joking but they have clausules of compliance which can open the door for any request like this. I wonder what would have happened if this guy was not so vocal and hadn't made a fuss in the group.
In fact, I find that Finotive, after reflection, has found an excellent model to counter all these problems. And I think that all the props firms who spend their time investigating each payout should perhaps take inspiration from it.
  • #13,874
  • Feb 9, 2023 6:07am Feb 9, 2023 6:07am
Quoting quinotaur
{quote} They have chat, and email, very responsive support as it has been noticed already by many...so that is where the right address for the question is
Your response has nothing to do with the question you were asked. Are you a poorly coded bot?
  • #13,875
  • Feb 9, 2023 6:29am Feb 9, 2023 6:29am
Quoting bluepanido
{quote} Your response has nothing to do with the question you were asked. Are you a poorly coded bot?
So acording to you, as you will notice by my reply to you that I am a human not bot, what should my answer be
  • #13,876
  • Feb 9, 2023 7:04am Feb 9, 2023 7:04am
Quoting Nsak3y
{quote}-Thanks for sharing. {quote}-I think so. Time will tell. {quote}-The max DD can be set to static, though. For me, the downsides are as follows: 1. The are very new, so lacking in large payout proofs. 2. They have changed their offerings quite a few times and still have not seemed to settle in yet. One interesting thing about this firm is that they claim to have access to large investor funds and are looking to pair consistent traders with very large capital (30M-100M, supposedly). Whether or not that is true is unknown, but you would likely...
Yes I see they are recommended on the propfirms Telegram group which has 77000 members. Proof of payouts is available but as you say they are not very big.

I don't really think that the trailing max loss is a huge downer because if you're minus 10% on any trading day, you're in trouble. And I suppose if it is a problem for some then you can pay the extra fee.

I think the feature of being able to pay a bit extra to remove the daily loss limit cannot be underestimated. If one looks at the statistics, it's by far the main reason why traders are failing challenges. Especially when the leverage offered allows one to trade like 10 lots at a time. Very easy to rack up $1000 losing trade in a very short period of time. I have failed a couple of challenges by just exceeding the limit by a hundred or so bucks and I'm sure many others have had the same experience
  • #13,877
  • Feb 9, 2023 8:09am Feb 9, 2023 8:09am
Quoting Capablanca
{quote} Payout was put on hold for investigation. The suspicion was his trading history and they asked him authorization to check his trade history in other prop firms where he is trading.
That's crazy. What in the world does his history at other prop firms have to do with his MFFX trading?
Pride always comes before destruction.... -Proverbs 16:18
  • #13,878
  • Feb 9, 2023 9:06am Feb 9, 2023 9:06am
Quoting Expo33
{quote} That's crazy. What in the world does his history at other prop firms have to do with his MFFX trading?
Its part of this whole E8 TFT thing where they are sharing details with each other to find people who are long on one prop and short on other to make big profit. Its one of the reasons im stepping away from trading anywhere but FTMO and MFF rn. I haven't done that but i also do not want to get caught up in the fuss.
  • #13,879
  • Feb 9, 2023 9:27am Feb 9, 2023 9:27am
Quoting Takisd
{quote} Its part of this whole E8 TFT thing where they are sharing details with each other to find people who are long on one prop and short on other to make big profit. Its one of the reasons im stepping away from trading anywhere but FTMO and MFF rn. I haven't done that but i also do not want to get caught up in the fuss.
Ah, now I see. Thx
Pride always comes before destruction.... -Proverbs 16:18
  • #13,880
  • Feb 9, 2023 9:46am Feb 9, 2023 9:46am
Quoting Bizziebee
I think the feature of being able to pay a bit extra to remove the daily loss limit cannot be underestimated. If one looks at the statistics, it's by far the main reason why traders are failing challenges.
-Exactly right. And if you elect to also go with the static max option, you can create some serious padding on your account.
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