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  • #14,261
  • Mar 4, 2023 2:50am Mar 4, 2023 2:50am
Heads up for anyone trading or planning to open account with Bigpips.

I signed up for their challenge about a month ago. After three weeks my account suddenly stopped working and became invalid. I contacted their support immediately several times in different ways. After 4 days they finally responded and claimed that I had changed my password and it's a breach. I obviously had not changed my password. They finally gave me a new account but I had to restart my challenge and lost all my profits so far. The same thing has also happened to some other traders. If they had proper MT4 manager connection to 8cap, they could have just reset my password and let me continue trading as they could easily have been able to see from logs that my password had not been changed. My feeling is that they don't have a partnership agreement with 8cap but instead just open demo accounts which 8cap every now and then delete for various reasons.
  • #14,262
  • Mar 4, 2023 4:22am Mar 4, 2023 4:22am
Quoting TraderTero
Heads up for anyone trading or planning to open account with Bigpips. I signed up for their challenge about a month ago. After three weeks my account suddenly stopped working and became invalid. I contacted their support immediately several times in different ways. After 4 days they finally responded and claimed that I had changed my password and it's a breach. I obviously had not changed my password. They finally gave me a new account but I had to restart my challenge and lost all my profits so far. The same thing has also happened to some other...
Interesting. A few weeks ago 8cap support confirmed to me they have an agreement with Bigpip
https://www.forexfactory.com/thread/...6#post14319076
Money is made by sitting, not trading
  • #14,263
  • Mar 4, 2023 5:21am Mar 4, 2023 5:21am
"We are proudly presenting a new $800k challenge account.
You can now merge accounts up to $2.5M and scale up to $5M.
Use the Code " BPF800K" to avail 15% OFF + 125% REFUND"

Their ambitions are apparently through the roof...
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Money is made by sitting, not trading
  • #14,264
  • Mar 4, 2023 5:55am Mar 4, 2023 5:55am
Quoting Vitore
{quote} Interesting. A few weeks ago 8cap support confirmed to me they have an agreement with Bigpip https://www.forexfactory.com/thread/...6#post14319076
Not sure what's happening with them but if you check their Telegram you can also see a lot of complaints about CC deposits not going through.
  • #14,265
  • Mar 4, 2023 5:57am Mar 4, 2023 5:57am
Quoting Vitore
"We are proudly presenting a new $800k challenge account. You can now merge accounts up to $2.5M and scale up to $5M. Use the Code " BPF800K" to avail 15% OFF + 125% REFUND" Their ambitions are apparently through the roof... {image}
Maybe they should fix their technical issues first.
  • #14,266
  • Mar 4, 2023 6:04am Mar 4, 2023 6:04am
Anyone of you, on a MAC, is using both MT5 and MT4 and generally speaking MT4 is slower or soffer some lag in sending orders, cancel etc showing even the hourglass symbol sometime?

Because I prefer to keep MT5 for my training, I always used FTMO/E8 trials on MT4 so I could keep on a laptop 2 platforms. But tired of MT4 with issues.

For example fpmarkets demo freeze ever couple of minutes on MT4 while on MT5 never got issues. So I guess that is something about MT4/MAC that doesn't work well.

I don't use even heavy EA or indicators, just an EMA, Bollinger and RONZ SLTP EA for the stop loss take profit. All light.

Do you have the same issues of me? Next time I will try FTMO trials only on MT5, while E8 offers trials only on MT4 so I won't be able to test them anymore because it's very annoying MT4 right now.
in holiday till end of November
  • #14,267
  • Mar 4, 2023 6:14am Mar 4, 2023 6:14am
Quoting TraderTero
{quote} Not sure what's happening with them but if you check their Telegram you can also see a lot of complaints about CC deposits not going through.
True. Better to wait a few more months to see if they survive
Money is made by sitting, not trading
  • #14,268
  • Mar 4, 2023 6:26am Mar 4, 2023 6:26am
Quoting TraderTero
Heads up for anyone trading or planning to open account with Bigpips. I signed up for their challenge about a month ago. After three weeks my account suddenly stopped working and became invalid. I contacted their support immediately several times in different ways. After 4 days they finally responded and claimed that I had changed my password and it's a breach. I obviously had not changed my password. They finally gave me a new account but I had to restart my challenge and lost all my profits so far. The same thing has also happened to some other...
Did you try to talk with the guy (admin) of the " Propfirms Telegram " ? He always do a lot of noise with Bigpip there....

I checked their discord and it is not very active with only 3-4 proofs of payment. A lot of noise in the silence.
  • #14,269
  • Mar 4, 2023 6:42am Mar 4, 2023 6:42am
Quoting Nehemah
{quote} Did you try to talk with the guy (admin) of the " Propfirms Telegram " ? He always do a lot of noise with Bigpip there.... I checked their discord and it is not very active with only 3-4 proofs of payment. A lot of noise in the silence.
No, just tried to get support via Telegram, Discord, backend support and website online support. The last one then started to do something after 4 days of constant contacts from me. They have been having some issues with their Discord.
  • #14,270
  • Mar 4, 2023 8:02am Mar 4, 2023 8:02am
Quoting Vitore
{quote} E8 has good spreads on paper but the slippage (or markup?) makes it much more expensive. I only trade US500 with them and 0.7 looks ok but in reality whenever I place a trade it's about 1 point off the actual market price.
Yes correct all depend how many lots they have on the first level.

That's why I don't know FTMO or MFF with higher spread how many lots have on the first level or if they slippage you already with 1 lot or 2.5

I checked all the levels of icmarkets, fusion, fpmarkets etc... the most liquid broker is fpmarkets then fusion. IcMarkets show just 1 lot on the first level then you have usually 2 mini points slippage. For forex. The same to verify for indices.
in holiday till end of November
  • #14,271
  • Mar 4, 2023 8:14am Mar 4, 2023 8:14am
Quoting qtrader.co
{quote} Just as good old B-book brokers. Prop firms are smarter because they found a way to make the traders loose even more rapidly, with the requirement to double your account in 22 days.
Yes, but for good traders, they are awesome....pay $950-$1000, get 20-24K allowable loss, take the fee refund and do it again.
It's all the same, traders losing on their personal accounts lose in this space, but for winning traders, this is ,well, as I stated, a 20X better option.
Just repeating the above process 3 times (600K) gives you the equivalent of a 60-72K personal account for a $500 investment which is still refunded.
For losing traders, it's a horrible deal while at the same time best thing ever invented if you know what you are doing.
  • #14,272
  • Edited 8:34am Mar 4, 2023 8:17am | Edited 8:34am
Quoting Vitore
"We are proudly presenting a new $800k challenge account. You can now merge accounts up to $2.5M and scale up to $5M. Use the Code " BPF800K" to avail 15% OFF + 125% REFUND" Their ambitions are apparently through the roof... {image}
Yes, the big(ger) money grab before they take off with everyone's $$$$$ . Crypto only for bigger refund. Another red flag. Looks pretty obvious to me.
Here is my weekly broken record.........Why, oh why, oh why, do we not all just stick to the proven, reliable firms.......there are 4-5 to choose from......Are you maxed at the 2 million with them?
Expo33, not applicable to you, as you have disclosed, you simply throw "blackjack" money at the smallest challenge, if you lose it....no biggie.
For those trying to earn a full time income ++++ (everyone else)....trading is difficult enough, give yourself one less thing (the legitimacy of the prop firm) to worry about and heed my advice.
There is actually a list TOP FIRMS CURRENTLY PAYING TRADERS on page 1 of this thread. It's like, people come here and say,"Yep, I see those, but, yeah, I'd rather give my money to a firm not on the list"
  • #14,273
  • Mar 4, 2023 8:47am Mar 4, 2023 8:47am
added some logos
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in holiday till end of November
  • #14,274
  • Mar 4, 2023 10:32am Mar 4, 2023 10:32am
Quoting pipmaster77
{quote} Yes, the big(ger) money grab before they take off with everyone's $$$$$ . Crypto only for bigger refund. Another red flag. Looks pretty obvious to me. Here is my weekly broken record.........Why, oh why, oh why, do we not all just stick to the proven, reliable firms.......there are 4-5 to choose from......Are you maxed at the 2 million with them? Expo33, not applicable to you, as you have disclosed, you simply throw "blackjack" money at the smallest challenge, if you lose it....no biggie. For those trying to earn a full time income ++++...
My strategy is long term and it doesn't support flipping an account within 30 days with normal risk settings. That's why I need to use 1-phase or instant funding and FTMO for example doesn't have 1-phase challenge.
  • #14,275
  • Mar 4, 2023 11:46am Mar 4, 2023 11:46am
Quoting TraderTero
{quote} My strategy is long term and it doesn't support flipping an account within 30 days with normal risk settings. That's why I need to use 1-phase or instant funding and FTMO for example doesn't have 1-phase challenge.
Instant funding is simply funding your own account and giving up 50%, actually gets worse as you scale......completely pointless.
Develop a separate strat to pass challenges, then once funded trade low risk as you normally would.
If one cannot pass challenges, you are simply better off sticking to a personal account. Not saying there is anything wrong with that as not everyone can pass them, but don't GIVE MONEY AWAY doing instant funding, it just makes no sense.
  • #14,276
  • Mar 4, 2023 12:23pm Mar 4, 2023 12:23pm
Quoting pipmaster77
{quote} Instant funding is simply funding your own account and giving up 50%, actually gets worse as you scale......completely pointless. Develop a separate strat to pass challenges, then once funded trade low risk as you normally would. If one cannot pass challenges, you are simply better off sticking to a personal account. Not saying there is anything wrong with that as not everyone can pass them, but don't GIVE MONEY AWAY doing instant funding, it just makes no sense.
Unfortunately I disagree with you about the Instant funded accounts. Right now I have one 50k instant funded account from Finotive for which I paid $850 with coupon. Once my profit hits 4% or 2k, I will withdraw and get around 1k which I will use to buy a second instant funded account from them. After trading another month or so, I will collect another 2k and buy two more instant funded accounts from them. After that I will have 200k in instant funded accounts. This process will take around 3 months or so.

So on the 4th month I will be trading 200k or 16k in reality. However, I would never have been able to flip my initial investment of $850 to 16k in 4 months. I'm expecting to make about 2.5% per month in profit less approximately 40% which goes to Finotive as profit share. My net from the 200k would be around 3k per month. There is no way I could be making the same 3k profit per month with any reasonable risk using my strategy on a $850 personal account after 4 months of trading. I can also let a couple of the accounts scale up and collect even bigger profits later on. It's all about the strategy you use. If you can easily pass the challenges fast, then of course that's the best way to go.
  • #14,277
  • Mar 4, 2023 12:37pm Mar 4, 2023 12:37pm
Quoting pipmaster77
{quote} Instant funding is simply funding your own account and giving up 50%, actually gets worse as you scale......completely pointless. Develop a separate strat to pass challenges, then once funded trade low risk as you normally would. If one cannot pass challenges, you are simply better off sticking to a personal account. Not saying there is anything wrong with that as not everyone can pass them, but don't GIVE MONEY AWAY doing instant funding, it just makes no sense.
Some just have to learn the hard way. He's made "calculations" and under the impression long term success is attained by passing challenges quickly.

A fool and his money...
Trade with confidence, trade without fear.
  • #14,278
  • Mar 4, 2023 1:14pm Mar 4, 2023 1:14pm
I did a recent study as part of my consulting gig for a prime regarding CFD's. Almost all retail offerings are 6x market volumes and on all trades over 20 lots on us30 there is 4 ticks less slippage than there should be. One of the datasets was a broker that caters to prop firms that I dislike.

People complain about slippage, but if they truly knew what it was like on the real market, they would probably stop.

The study itself concluded that retail traders are more likely to lose money trading CFD's than FX and the speed in which they lose money is significantly faster. It also basically stated that other than b-booking, if you have high leverage on index CFD's you have no choice but to b-book as there are no alternatives that are as profitable.

Take from that what you will.

Regarding the passing I think that the problem with prop firms is not passing, adjusting your risk if you actually have a strategy can solve that. The problem is when you are live. Spending my spare time in discords of various prop firms you can tell that people when they are on live accounts are trying to supercharge their bank account, it doesn't work like that. Every trade that you take the probability of you losing your account increases based on random walk. Each time you open a trade the probability of loss doesn't reset, it increases. If you increase your size, the probability increases even more along with the typical increase that exists. It appears very common that people are passing phase 1 and 2 in a day and then on live losing it in a day.

For those who make money, bank it, invest it wisely and make it last. For those who think they can but are saying things like "I'm a scalper", best wishes to you but if you think you can out trade the quants on metatrader I would like a large dose of whatever you're smoking.
  • #14,279
  • Mar 4, 2023 2:07pm Mar 4, 2023 2:07pm
Quoting Takisd
I did a recent study as part of my consulting gig for a prime regarding CFD's. Almost all retail offerings are 6x market volumes and on all trades over 20 lots on us30 there is 4 ticks less slippage than there should be. One of the datasets was a broker that caters to prop firms that I dislike. People complain about slippage, but if they truly knew what it was like on the real market, they would probably stop. The study itself concluded that retail traders are more likely to lose money trading CFD's than FX and the speed in which they lose money...
Exactly why I swing trade the fx pairs. I cast a net over a price range to enter....Let's say I'm buying USDJPY, I may enter at one price with FTMO, another price at MFF and yet another at TFF or TFTP, building one larger position across all 4 firms, still risking a total of 2.5% of ALLOWABLE LOSS. However, I never lose the 2.5%, because if my first two positions need to close negative, more often than not, the other 2 are positive.
On the indices, I day trade $25/point, once again spread across 4 firms
I don't even notice negative slippage, if there even is any, on my positions. I have received positive slippage several times when price flies through my TP.
All risk and profit is based on max loss, which is 24K per 200K with MFF and 20K per $200K with the other 3.
You are so correct, if folks weren't shooting for 6 figure payouts in 14 days, they'd be a lot better off.
  • #14,280
  • Mar 4, 2023 2:20pm Mar 4, 2023 2:20pm
Am I the scalper?
in holiday till end of November
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