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  • #19,381
  • Aug 31, 2023 7:38pm Aug 31, 2023 7:38pm
Quoting pipmaster77
{image} What's MFF up to?

remember posting this?

MFF knew what was coming and screwed everybody

if theeyre smart like the mffx guy they opening up a futures prop firm too
short trump and go long the deepstate
  • #19,382
  • Aug 31, 2023 7:40pm Aug 31, 2023 7:40pm
It's really sad to see that MFF is down ( hopefully temporarily). Please share your thoughts/inputs on the alternatives based on the following MFF features.

  1. One step evaluation
  2. No time limit
  3. Profit sharing from the evaluation phase.
  4. Daily DD 6%
  5. Max DD 12%
  6. No restrictions on News trading, EA, Overnight and weekend holding.
  7. Leverage 1:100
  8. Max profit split (live account)

Success = Practice + Patience + Persistence
  • #19,383
  • Aug 31, 2023 7:43pm Aug 31, 2023 7:43pm
Quoting fxpider
It's really sad to see that MFF is down ( hopefully temporarily). Please share your thoughts/inputs on the alternatives based on the following MFF features. One step evaluation No time limit Profit sharing from the evaluation phase. Daily DD 6% Max DD 12% No restrictions on News trading, EA, Overnight and weekend holding. Leverage 1:100 Max profit split (live account)
Maybe the most important requirement should be:

. Doesn't get shut down by an authority of some kind.
  • #19,384
  • Aug 31, 2023 8:00pm Aug 31, 2023 8:00pm
MFF is unregulated Broker on top of prop firm.

This could be the reason they are in trouble.

https://discord.com/channels/1072594...94870495084569
Intraday only.
  • #19,385
  • Aug 31, 2023 8:01pm Aug 31, 2023 8:01pm
Quoting Zebi
europe will close down ftmo in the next few days theyre called FOREX prop firms for a reason and theyve moved into futures contract territory without paying fees to the exchanges greed just killed the golden goose LOL
It's sad but we've discussed regulation on this thread in detail for the last 1 year or so and this was surely coming sooner rather than later. Only question now is what prop firm survives these regulators. I hope people dont go rushing to ftmo now to buy challenges and then the regulators suspend them too very soon. Would be interesting to get an official comment from ftmo regarding their standing.
  • #19,386
  • Aug 31, 2023 8:04pm Aug 31, 2023 8:04pm
Quoting Inception12
{quote} It's sad but we've discussed regulation on this thread in detail for the last 1 year or so and this was surely coming sooner rather than later. Only question now is what prop firm survives these regulators. I hope people dont go rushing to ftmo now to buy challenges and then the regulators suspend them too very soon. Would be interesting to get an official comment from ftmo regarding their standing.
There is no regulation until now in force for prop firms to my knowledge.

Probably, MFF has their own servers, so as a broker they are not regulated.
Intraday only.
  • #19,387
  • Aug 31, 2023 8:06pm Aug 31, 2023 8:06pm
Quoting Inception12
{quote} It's sad but we've discussed regulation on this thread in detail for the last 1 year or so and this was surely coming sooner rather than later. Only question now is what prop firm survives these regulators. I hope people dont go rushing to ftmo now to buy challenges and then the regulators suspend them too very soon. Would be interesting to get an official comment from ftmo regarding their standing.

something will get ironed out...the props wont offer futures contracts to trade if they dont want to pay the fees but everybody will lose money until the new business model is unveiled

in the meantime FF will be deserted cause most of the new members that joined the past couple years were all prop traders LOL
short trump and go long the deepstate
  • #19,388
  • Aug 31, 2023 8:07pm Aug 31, 2023 8:07pm
Quoting KoyaAndy18
{quote} Amen anh ơi! Hallelujah! Nếu MFF không quay lại và không thể trả lại số tiền tôi đã rút, tôi không còn lựa chọn nào khác ngoài việc quay lại làm việc tại trung tâm cuộc gọi ngay lập tức để nhận các cuộc gọi điện thoại. Hãy để nó như vậy đi.
It's so bad that I'm close to my first payment date, 20% of my profit..
  • #19,389
  • Aug 31, 2023 8:15pm Aug 31, 2023 8:15pm
Quoting Zebi
{quote} something will get ironed out...the props wont offer futures contracts to trade if they dont want to pay the fees but everybody will lose money until the new business model is unveiled in the meantime FF will be deserted cause most of the new members that joined the past couple years were all prop traders LOL
Well technically they are paying fees. CFD doesn't come out of thin air. CFD brokers liquidity provider must be paying fees to exchange to execute orders. Spreads in futures are pretty less as compared to CFD contract. If they are B-Booking exchange have no right to claim fees.
  • #19,390
  • Edited 8:35pm Aug 31, 2023 8:24pm | Edited 8:35pm
Quoting sampat
{quote} Well technically they are paying fees. CFD doesn't come out of thin air. CFD brokers liquidity provider must be paying fees to exchange to execute orders. Spreads in futures are pretty less as compared to CFD contract. If they are B-Booking exchange have no right to claim fees.

your missing the point. CFD's arent legal in america for one
if a spread betting broker in uk lets you buy the nasdaq he sure as hell is paying the CME exchange a fee to do it plus the data fees they charge for realtime futures prices

even the futures prop firms have to pay and they probably the ones that dropped the dime on the forex ones LOL

their model is monthly fees for data, platform and fees of all kinds

sign up to some offshore company that doesnt offer futures to trade and that should be fine otherwise the exchanges will want their money
short trump and go long the deepstate
  • #19,391
  • Aug 31, 2023 8:26pm Aug 31, 2023 8:26pm
Quoting Inception12
I hope people dont go rushing to ftmo now to buy challenges and then the regulators suspend them too very soon.
They're based in Czechia, aren't they? Might not be an issue for most people. If you're a US or a Canadian trader, probably best to avoid any prop until the dust settles.

Quoting navk
There is no regulation until now in force for prop firms to my knowledge.
At best, this type of prop is a legally gray area in the US. We love our licensing regimes here, and copy trading is kind of a cutesy workaround.
  • #19,392
  • Aug 31, 2023 8:30pm Aug 31, 2023 8:30pm
Quoting sampat
{quote} Well technically they are paying fees. CFD doesn't come out of thin air. CFD brokers liquidity provider must be paying fees to exchange to execute orders. Spreads in futures are pretty less as compared to CFD contract. If they are B-Booking exchange have no right to claim fees.

https://www.cmegroup.com/company/mem...les/IVIPQA.pdf
short trump and go long the deepstate
  • #19,393
  • Aug 31, 2023 8:30pm Aug 31, 2023 8:30pm
At the worst scenario, MFF as broker may be suspended.

MFF can tie up with 8 Cap.

ha..ha..
Intraday only.
  • #19,394
  • Aug 31, 2023 8:30pm Aug 31, 2023 8:30pm
Quoting Zebi
{quote} your missing the point. CFD's arent legal in america for one if a spread betting broker in uk lets you buy the nasdaq he sure as hell is paying the CME exchange a fee to do it plus the data fees they charge for realtime futures prices even the futures prop firms have to pay and they probably the ones that dropped the dime on the forex ones LOL there model is monthly fees for data, platform and fees of all kinds sign up to some offshore company that doesnt offer futures to trade and that should be fine otherwise the exchanges will want their...
It amazes me how BIG banks who do billions of dollars of manipulation (in forex) gets away with small fine and continue operations and small fly like prop firm who pays regularly to thousands of traders gets scrutinized.
  • #19,395
  • Aug 31, 2023 8:33pm Aug 31, 2023 8:33pm
If the Canadian regulatory agencies are involved and they have a provable case on their hand, MFF is toast and all the principals involved will get heavy punishment.
They have probably been investigating all activities and know just about all routing of the financial transactions in detail already.
They catch and convict for minor things. I think they have a big fish in the net this time.
And yes, they definitely coordinated the timing. Cda and US are close allies no doubt.

Correct me if wrong...they operated out of Canada?

I didn't know there is now an umbrella organization. https://www.securities-administrators.ca/
  • #19,396
  • Aug 31, 2023 8:44pm Aug 31, 2023 8:44pm
Next step will be a demand to surrender all data including passwords to all emails and modes of communication....even though they may already know a lot of things already but the firm under investigation, doesn't know what they have on them. A really tough place to be. I doubt any survival....unless they can prove they had all the required licenses and permits to do every bit of everything they did. Maybe they do. Right?????????
  • #19,397
  • Aug 31, 2023 8:45pm Aug 31, 2023 8:45pm
I expect that another detail that will concern regulators in the US and Canada is that they want to get a piece of the pie. If the the company controlling the prop firm is located in the US for example, I bet the US wants to make sure all of the income earned is either taxed in the US or covered by a tax treaty.
It's the way that casinos work in the US. Foreigners get taxed on their winnings in the casino.
All of the countries where forex earnings are using after tax income and therefore exempt would be magnets for US and Canadian tax authorities to try to make sure they get a piece of the pie.
  • #19,398
  • Aug 31, 2023 8:45pm Aug 31, 2023 8:45pm
Quoting loom
{quote} They're based in Czechia, aren't they? Might not be an issue for most people. If you're a US or a Canadian trader, probably best to avoid any prop until the dust settles. {quote} At best, this type of prop is a legally gray area in the US. We love our licensing regimes here, and copy trading is kind of a cutesy workaround.
Yeah, but once regulators in the US/Canada start some shit, the ones in Europe and Australia always follow suit. EU regulators are coming for them as well if they run things the same way MFF did internally.
  • #19,399
  • Aug 31, 2023 8:51pm Aug 31, 2023 8:51pm
Quoting dantpm
I expect that another detail that will concern regulators in the US and Canada is that they want to get a piece of the pie. If the the company controlling the prop firm is located in the US for example, I bet the US wants to make sure all of the income earned is either taxed in the US or covered by a tax treaty. It's the way that casinos work in the US. Foreigners get taxed on their winnings in the casino. All of the countries where forex earnings are using after tax income and therefore exempt would be magnets for US and Canadian tax authorities...
Forign exchange Regulators on tax issues ?

strange.
Intraday only.
  • #19,400
  • Aug 31, 2023 8:59pm Aug 31, 2023 8:59pm
Quoting navk
{quote} Forign exchange Regulators on tax issues ? strange.
That is most of what foreign exchange regulators do! They attempt to identify money laundering to ensure that all of the income is taxed.

They can't interfere with illegal weapons trading and so on as that would put the CIA out of business.
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