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  • #15,521
  • May 10, 2023 7:48am May 10, 2023 7:48am
Quoting Capablanca
{quote} EURUSD most of the time has 0.1 to 0.2 pip spread during London session. Execution is also good, usually I don't experience more than 0.1 or 0.2 (I trade small lots, like 4 or 5). Sometimes zero. I'm talking about challenge but I remember that they didn't have almost any slippage when I had the funded account as well (I know this is not good because it's not real conditions). {image}
What about the commission per lot round trip? Is it below 5$?
  • #15,522
  • May 10, 2023 8:54am May 10, 2023 8:54am
Quoting Takisd
{quote} Regulation is coming.
That's very worrying, what are the chances of this regulation hitting the UK you think?
  • #15,523
  • May 10, 2023 9:06am May 10, 2023 9:06am
Quoting ladder
{quote} What about the commission per lot round trip? Is it below 5$?
Zero commission in forex. I don't know for indexes or other instruments.
  • #15,524
  • May 10, 2023 9:29am May 10, 2023 9:29am
Quoting Takisd
{quote} Regulation is coming.
I wonder why on a state level, though? Why FTMO and not the others? Size? Haven't caught onto the others as of yet? Location? Just glad I'm in one of the other 45 states.
  • #15,525
  • May 10, 2023 9:31am May 10, 2023 9:31am
Quoting Takisd
{quote} Regulation is coming.
In what form regulation will come, what are your expectations?

Thanks.
  • #15,526
  • May 10, 2023 9:31am May 10, 2023 9:31am
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 just made my 2nd MFFX live , I really like their no mini trading days rule.. it took me less than one hour from phase II to live.
I always love MFF, I think now MFFX is equally good , maybe even better for me...
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  • #15,527
  • May 10, 2023 9:32am May 10, 2023 9:32am
Quoting pipmaster77
{quote} I wonder why on a state level, though? Why FTMO and not the others? Size? Haven't caught onto the others as of yet? Location? Just glad I'm in one of the other 45 states.
Do those states have goods and services tax? I am not sure exactly but my suspicion is that its tax related in some way.
  • #15,528
  • May 10, 2023 9:33am May 10, 2023 9:33am
Quoting Dao-trades
{quote} That's very worrying, what are the chances of this regulation hitting the UK you think?
FCA is apparently already reviewing the prop firm market. But since most of the firms aren't in the UK....
  • #15,529
  • May 10, 2023 9:38am May 10, 2023 9:38am
Quoting Takisd
{quote} FCA is apparently already reviewing the prop firm market. But since most of the firms aren't in the UK....
I'm sure they will figure it out, just like the offshore brokers did. Losing business in 5 states is probably not a big issue, if it were the entire US.........I guarantee they set up shop elsewhere and with a new name.
  • #15,530
  • May 10, 2023 9:40am May 10, 2023 9:40am
Quoting Boulder
{quote} I just made my 2nd MFFX live , I really like their no mini trading days rule.. it took me less than one hour from phase II to live. I always love MFF, I think now MFFX is equally good , maybe even better for me... {image}

Very good. You go all- in ?
  • #15,531
  • May 10, 2023 9:41am May 10, 2023 9:41am
Today I have bought 600k TFT and 500k MFF, with a great plan. A kinda sad to hear this regulation thing. I am from 3rd world country, if you know what I mean.

Takisd, say some positive things, I assume you are more closer to backend side of this business.
  • #15,532
  • May 10, 2023 9:43am May 10, 2023 9:43am
Quoting Eren10
{quote} Very good. You go all- in ?
not all in.. just fast scalp
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  • #15,533
  • May 10, 2023 10:04am May 10, 2023 10:04am
Quoting Boulder
{quote} not all in.. just fast scalp {image}
Nice timing !
  • #15,534
  • May 10, 2023 10:32am May 10, 2023 10:32am
Quoting solarpower
Today I have bought 600k TFT and 500k MFF, with a great plan. A kinda sad to hear this regulation thing. I am from 3rd world country, if you know what I mean. Takisd, say some positive things, I assume you are more closer to backend side of this business.
You will be fine Enjoy the accounts and make money.
  • #15,535
  • May 10, 2023 10:35am May 10, 2023 10:35am
Quoting Boulder
Fyi {image}
"Ceases it's activities" isn't the same as how they described "ceasing accepting new clients from India".

Does this mean they had some business activities in those states? It doesn't clearly say they are ceasing accepting new clients from those states.
  • #15,536
  • May 10, 2023 10:55am May 10, 2023 10:55am
Quoting Boulder
Fyi {image}
Maybe there are just no good traders from those states.
You guys know any traders in Louisiana or Arkansas?
  • #15,537
  • May 10, 2023 10:57am May 10, 2023 10:57am
Quoting monad
It doesn't clearly say they are ceasing accepting new clients from those states.
-I would say that it does, unfortunately.

This news is very disconcerting. I wonder if they would be willing to disclose their reasoning. I suppose that if the reasoning involved some sort of fraud attempts or lawsuits, then probably not.

I do hope that props do not give in and will fight to find ways to stay in operation. I do not need to stay where I am currently, so I always keep that option reserved in the back of my mind that if my government tries to stop me from earning an income from trading, then I will consider drastic measures in order to circumvent those restrictions.
  • #15,538
  • May 10, 2023 11:03am May 10, 2023 11:03am
Quoting pipmaster77
{quote} Maybe there are just no good traders from those states. You guys know any traders in Louisiana or Arkansas?
I thought the same way about india,, maybe too many good traders in India so they have to stop their business there. since its not profitable

Regarding to LA and AK states, i think maybe something to do with their state laws. I remember not long ago. Binance US not accept traders from those states either when crypto was in hot market a couple years ago
  • #15,539
  • May 10, 2023 11:10am May 10, 2023 11:10am
Quoting Takisd
{quote} FCA is apparently already reviewing the prop firm market. But since most of the firms aren't in the UK....
I hope it takes time for this to arrive to European Soviet Union. Whatever they touch they destroy it.
  • #15,540
  • Edited 11:36am May 10, 2023 11:24am | Edited 11:36am
Quoting Boulder
I thought the same way about india,, maybe too many good traders in India so they have to stop their business there.
-If I recall, this was actually due to regulation. I cannot remember, honestly.

Quoting Boulder
i think maybe something to do with their state laws.
-I would assume so. It seems likely that this has something to do with state law. I cannot say that it has anything to do with taxes, since it is my understanding that forcing foreign entities to report is very costly and time-consuming, however, if local government (or IRS) decided to spend all of that time and money to go after an offshore entity, especially if there are special tax obligations in those states that they can levy against them, then that could put pressure on firms to cease operations there.

Keeping in mind that this may only be possible if a firm is operating out of a jurisdiction where various treaties and agreements exist with the United States, that could force them to comply. I can only guess about that, though.

It could also be a lot of fraud activity in those states (or issues with credit card services and/or charge-backs), or even lawsuits coming from those states.

Since different states have different laws, not only tax laws but laws pertaining to gambling etc., then it could be a myriad of possibilities.

Anyway, I have asked that question, so hopefully we can get some more insight on this.
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