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  • #15,481
  • Edited 11:04am May 8, 2023 10:48am | Edited 11:04am
Quoting Takisd
{quote} This is easiest the dumbest thing I have seen on the internet right now.
why is that dumb? I think mffx does a pretty good job marketing their service. and try to gain market share...
I just bought 2nd account from them after I had a good experiencce with them on my first account ...
Be honest I wont give them a try if not because of the 'no time limits'..and ' no miminum trading days'..
  • #15,482
  • May 8, 2023 11:15am May 8, 2023 11:15am
Quoting Boulder
{quote} why is that dumb? I think mffx does a pretty good job marketing their service. and try to gain market share... I just bought 2nd account from them after I had a good experiencce with them on my first account ... Be honest I wont give them a try if not because of the 'no time limits'..and ' no miminum trading days'..
Its dumb because one of them has a sample size of millions and the other has a sample size of thousands. Data, especially on trader success, usually gets worse as the number of people sampled gets higher as statistically most people lose.

FTMO vs MFF would be as close to a valid stat as you would get.
  • #15,483
  • May 8, 2023 11:26am May 8, 2023 11:26am
Quoting Takisd
{quote} Its dumb because one of them has a sample size of millions and the other has a sample size of thousands. Data, especially on trader success, usually gets worse as the number of people sampled gets higher as statistically most people lose. FTMO vs MFF would be as close to a valid stat as you would get.
thanks Takisd, ,that makes sense.....
so reality is with time.they will even out like MFF or FTMO with statistics not even 1% , actually around 0.003%, who gets profit splits....
  • #15,484
  • May 8, 2023 11:50am May 8, 2023 11:50am
Quoting Boulder
{quote} thanks Takisd, ,that makes sense..... so reality is with time.they will even out like MFF or FTMO with statistics not even 1% , actually around 0.003%, who gets profit splits....
Neither of them have posted recent stats on who gets profit splits AFAIK. I still see people quoting MFF's stats from over a year ago. They posted some stats recently that were far more promising. I dont know if FTMO ever posted stats? I am unsure. But overtime the fail rate will be significantly higher than MFFX is reporting.

In my eyes the average payout figure from them is alarming.
  • #15,485
  • May 8, 2023 12:02pm May 8, 2023 12:02pm
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Money is made by sitting, not trading
  • #15,486
  • May 8, 2023 12:13pm May 8, 2023 12:13pm
Quoting Boulder
so reality is with time.they will even out like MFF or FTMO with statistics not even 1% , actually around 0.003%, who gets profit splits....
-If their trading conditions are not realistic, then the statistics could be skewed.
  • #15,487
  • May 8, 2023 1:51pm May 8, 2023 1:51pm
Quoting Nsak3y
{quote}-If their trading conditions are not realistic, then the statistics could be skewed.
they use eightcap right?

Either way, their statistics are their own stats its not actually proven. Tomorrow probably thefundedtrader will make a post saying how they have the highest pass rate of all prop firms or something.
  • #15,488
  • May 8, 2023 2:09pm May 8, 2023 2:09pm
Very true.
  • #15,489
  • May 8, 2023 2:43pm May 8, 2023 2:43pm
The prop market is a bit of a joke right now. The model originally in of itself was very generous from a financial perspective. Prop firms outflows were likely 60+% just with the typical 2 phase operation.

If you increase the pay period, remove the maximum days etc, you are a supersized turbo speed ponzi. You have basically taken a model with scraps for profit (size required to make any real profit) and mutated into something that is impossible without manipulation or intervention.

The funny thing is the more sane models are winning the battle. Imagine, you run a b-book model and you say "Deposit only 50% of your money and we will make it 100%". Thats what a 50% discount is on a prop account. If you consider outflows to be 50+% with 50% being a good number, I think some of these firms are running on fumes.
  • #15,490
  • May 9, 2023 1:28am May 9, 2023 1:28am
Quoting RahulARW
Hey guys, I have just started trading and I just purchased a $10k account with The Funded Trader. I only trade XAU/USD. For some reason, I cannot buy or sell more than 0.5 lots on gold. But I can risk more than 5 lots on pairs like GBPUSD, GBPJPY etc. Can anybody explain why this happens and what can I do? Thanks.
I think Margin requirements for Gold (XAU/USD) are higher, if not, it's better to check with customer support for more clarification.
  • #15,491
  • May 9, 2023 4:16am May 9, 2023 4:16am
Quoting Boulder
{quote} why is that dumb? I think mffx does a pretty good job marketing their service. and try to gain market share... I just bought 2nd account from them after I had a good experiencce with them on my first account ... Be honest I wont give them a try if not because of the 'no time limits'..and ' no miminum trading days'..
I personally think that myfundedfx is one of the more horrific props to join as of this moment. The reason being is that their contract is setup in such a way that the company can arbitrarily chose to terminate your account if your trading is "risky" or you are engaging in "high risk trading". That ofcourse can be interpreted in 100 different ways, but that naturally gives the firm an "out" if they dont want you trading for them.

I always read the contract before even engaging with them. Props like TFT for instance will honor your trading/payout as long as you dont violate the rules. Thats the most fair terms to engage in.

Also btw, myfundedfx has a history of grossly violating personal privacy. In the telegram group some months ago "propfirms" the CEO notoriously demanded proof that a trader was not trading in another firm in order to release his payout. Ofcourse after he got fileed by the members he backpeddled as a good boy as he is. Just gives you an idea of who is running the firm.
  • #15,492
  • May 9, 2023 5:05am May 9, 2023 5:05am
Quoting OranJuice
{quote} I personally think that myfundedfx is one of the more horrific props to join as of this moment. The reason being is that their contract is setup in such a way that the company can arbitrarily chose to terminate your account if your trading is "risky" or you are engaging in "high risk trading". That ofcourse can be interpreted in 100 different ways, but that naturally gives the firm an "out" if they dont want you trading for them. I always read the contract before even engaging with them. Props like TFT for instance will honor your trading/payout...
Is that thing about risk in their T&C ? If I remember well someone said that they don't have any trader agreement.

About the other episode I can confirm that. I saw it. The guy was flogged and ended up paying. He may have learned the lesson that if he wants to grow a company he has to behave straight.
  • #15,493
  • May 9, 2023 5:13am May 9, 2023 5:13am
Quoting OranJuice
{quote} I personally think that myfundedfx is one of the more horrific props to join as of this moment. The reason being is that their contract is setup in such a way that the company can arbitrarily chose to terminate your account if your trading is "risky" or you are engaging in "high risk trading". That ofcourse can be interpreted in 100 different ways, but that naturally gives the firm an "out" if they dont want you trading for them. I always read the contract before even engaging with them. Props like TFT for instance will honor your trading/payout...
All you write may be true of course. As for the contract - I also read all contracts before signing and every single one contained a clause to allow the prop firm to terminate it basically anytime and for whatever reason. So I don't care about what they write there anymore as they can do whatever they want.

The only thing I care about is the profits payment experience. So far I received 4 payouts from MFFX and it was always very quick and smooth. My trading style was never questioned, they never refused to pay my profit. I cannot say the same about several others I tried.

According to my personal experience MFFX is the best prop firm I tried so far (others being FTMO, MFF, E8, BFP, TFF, TFT, FN+, EnFoid, maybe some more which I don't remember anymore). My only complain would be about much too small max initial capital (capped to 300K only)
Money is made by sitting, not trading
  • #15,494
  • May 9, 2023 5:13am May 9, 2023 5:13am
In the meantime some news from the prop telegram group:

- Bespoke Funding eliminated the news rule. People can trade any news from this week.
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- For some reason Alpha Capital Group was removed from their trusted list. Either the company is not paying them or something happened. The guys running the channel didn't explain that when asked.
A reminder that this Alpha Capital were the ones buying TCF recently, which was one of the most shady companies around.
  • #15,495
  • May 9, 2023 5:16am May 9, 2023 5:16am
Quoting Vitore
{quote} All you write may be true of course. As for the contract - I also read all contracts before signing and every single one contained a clause to allow the prop firm to terminate it basically anytime and for whatever reason. So I don't care about what they write there anymore as they can do whatever they want. The only think I care about is the profits payment experience. So far I received 4 payouts from MFFX and it was always very quick and smooth. My trading style was never questioned, they never refused to pay my profit. I cannot say the...
surprised to see FT+ there. Didn't they have trailing DD ?
  • #15,496
  • May 9, 2023 5:20am May 9, 2023 5:20am
Quoting Capablanca
{quote} surprised to see FT+ there. Didn't they have trailing DD ?
Yes, it was a mistake, I just tried their instant some time ago before realizing how it actually works :-)
Money is made by sitting, not trading
  • #15,497
  • May 9, 2023 5:20am May 9, 2023 5:20am
Quoting OranJuice
{quote} I personally think that myfundedfx is one of the more horrific props to join as of this moment. The reason being is that their contract is setup in such a way that the company can arbitrarily chose to terminate your account if your trading is "risky" or you are engaging in "high risk trading". That ofcourse can be interpreted in 100 different ways, but that naturally gives the firm an "out" if they dont want you trading for them. I always read the contract before even engaging with them. Props like TFT for instance will honor your trading/payout...
I don’t know anything about their history, my first profit split with them will be on the 14th.
I didn’t sign any contract with them so far, as long as they can pay traders, I am OK with that. .
regarding to high risk trading, I thought they have no restrictions. I basically traded big lots in my accounts and finished challenges in a few hours.
instead of listening to others negative comments, I gave them a try. I like my experience so far.
  • #15,498
  • May 9, 2023 5:25am May 9, 2023 5:25am
Quoting Vitore
{quote} Yes, it was a mistake, I just tried their instant some time ago before realizing how it actually works :-)
OK. I was ready to beat you up severely

Btw, does MFFx allow crypto payouts or you have never tried that ?
  • #15,499
  • May 9, 2023 5:27am May 9, 2023 5:27am
Quoting OranJuice
{quote} I personally think that myfundedfx is one of the more horrific props to join as of this moment. The reason being is that their contract is setup in such a way that the company can arbitrarily chose to terminate your account if your trading is "risky" or you are engaging in "high risk trading". That ofcourse can be interpreted in 100 different ways, but that naturally gives the firm an "out" if they dont want you trading for them.
Not defending any prop but why wouldn't they include this or is it too vague? Due diligence should be done before going live with most props considering the amount of prop discords with people on small accs gambling huge lots and passing in one day, they need to protect themselves too.

I am extremely skeptical about pop-up props in general but I don't see cutting risky traders/gamblers as an issue.
  • #15,500
  • May 9, 2023 5:38am May 9, 2023 5:38am
Quoting Capablanca
{quote} OK. I was ready to beat you up severely Btw, does MFFx allow crypto payouts or you have never tried that ?
I think they allow it only for countries where deel is banned
Money is made by sitting, not trading
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