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  • #19,901
  • Sep 2, 2023 7:32am Sep 2, 2023 7:32am
Quoting CableJ
hmmmmm... could the current model still work with some small tweaks in the US... 1. Forex + Futures instead of banned CFDs 2. no more lying about being funded, live trading, real markets ect. 3. no fake commissions charged 4. no backend tricks with excessive slippage 5. no drawdown limits, instead of 100K with 10% DD, it's just full 10K account 6. Tax payer reporting to IRS 7. Prop financial reporting to CFTC 8. 3rd phase stated as payed simulated environment where traders get profit split 9. Front page of website monthly disclosure of pass & payout...
It is saturday/sunday.

We all have nothing to do in trading so we talk about MFF, Court order, Ponzi..etc.

Once the market opens on Monday, we go busy with remaining firms. ha..ha..
So much negativity from mainly failed traders. Remember they could not win even with simulated trading conditions. Why to talk about live conditions ? no way.

But mark my words.

There will be more regulator actions. The firms and owners will find new ways to survive.

We shall continue to buy challenges.

Brainy ones will continue to win ..the rest will loose.
Intraday only.
  • #19,902
  • Sep 2, 2023 7:35am Sep 2, 2023 7:35am
Quoting sampat
{quote} Haha you are lucky BC is good look for Alberta even Canadian regulated brokers cannot accept Alberta residents. Some body needs to teach regulators some basic knowledge salary in alberta is 30-80K on average for most of jobs. Only some doctors earn that much and they dont have time to trade {image}
As I said, the prupose of regulation is to keep the wealth with the wealthy. All bought and paid for by the wealthy. Anyone who thinks everything is done legitimately and laws and regualtions are for the average Joe, is just plain naive......brainwashed by the media, which, oh by the way, is bought and paid for by the same folks.
  • #19,903
  • Sep 2, 2023 7:37am Sep 2, 2023 7:37am
Quoting navk
{quote} It is saturday/sunday. We all have nothing to do in trading so we talk about MFF, Court order, Ponzi..etc. Once the market opens on Monday, we go busy with remaining firms. ha..ha.. So much negativity from mainly failed traders. Remember they could not win even with simulated trading conditions. Why to talk about live conditions ? no way. But mark my words. There will be more regulator actions. The firms and owners will find new ways to survive. We shall continue to buy challenges. Brainy ones will continue to win ..the rest will loose.
My attention would now turn to FTMO.

How might they be weathering the storm ?

Mastermind.............
Master your Mind then Master your Trades
  • #19,904
  • Sep 2, 2023 7:43am Sep 2, 2023 7:43am
Quoting Masterrmind
{quote} My attention would now turn to FTMO. How might they be weathering the storm ? Mastermind.............
They also will be regulated sooner or later. The EU comes after US normally. They are slowlier but they will do something. I just hope that it will not affect me in the next 6 months or so. I hoped to make instead of 5-figure payouts monthly to get 6-figure payouts with the help of prop firms. But now everything is unsure. Then of course it starts to get boring if you cannot scale anymore on props and payout percentages, you need to trade on your own personal accounts to continue some growth.
  • #19,905
  • Sep 2, 2023 7:44am Sep 2, 2023 7:44am
Quoting fx11trade
https://theforexfunder.com/ do they payout? They have a 50% discount on all accounts now.
$270 for a 100K account 95% profit split
Pride always comes before destruction.... -Proverbs 16:18
  • #19,906
  • Sep 2, 2023 7:49am Sep 2, 2023 7:49am
Quoting Masterrmind
{quote} My attention would now turn to FTMO. How might they be weathering the storm ? Mastermind.............
The action on them could take sometime.

The real ( I mean real fraudesters ) will wait to see how the act on MFF ends up.

There are two parties to the case.

Both are Frauds. I would say one party is not that much Fraud..because they were paying the winners.

The ones who is interested in 300 million is real fraud.

Sorry, I used word Fraud many times in a single post. ha..ha..

I am upset to see how this has happened and ongoing.

FTMO and all should survive. with some modifications.

And it is my wish.
Intraday only.
  • #19,907
  • Sep 2, 2023 7:51am Sep 2, 2023 7:51am
Quoting Expo33
{quote} $270 for a 100K account 95% profit split
And we all apply for this challenge.

The brainers will get paid three months.

Non brainers keep buying at cheap price.

Intraday only.
  • #19,908
  • Sep 2, 2023 8:02am Sep 2, 2023 8:02am
Quoting TraderTero
{quote} CFTC: Because Traders Global is the counterparty, when a customer’s trading is successful, any “profits” to which the customer may be entitled come out of Traders Global’s pocket. Indeed, substantially all of these so-called profits come from fees that Traders Global collected from other customers, in a manner similar to a Ponzi scheme. When customers win, Traders Global loses.
and when a customer wins, Oanda loses, when a customer wins, Forex.com loses, etc, etc, etc.
The only folks happy about any of this are losing traders. The ones that say "if I can't do it, nobody should be allowed to."
For everyone else, the CFTC just took food of of our tables, just like they did with Dodd-Frank.
They force us to go offshore to protect us from what they regulate onshore.......makes sense.
  • #19,909
  • Edited 8:32am Sep 2, 2023 8:03am | Edited 8:32am
MFF FTMo are all in house liquidity. We need use firms with 3rd party broker
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  • #19,910
  • Sep 2, 2023 8:07am Sep 2, 2023 8:07am
Quoting Capablanca
{quote} Humm... still not convinced. This business could be like slot machines that returns 95% of what is dropped there or the roulette that returns 97.3%. None are ponzis, they just use probabilities. I understand your point. Roulette has fixed odds while in props is more estimated odds of challenges passed and avgs funded payouts (which are manipulated by kicking the guys that are doing arb, having more slippage on the successful ones, charging more or less commissions, etc.). But anyway, still have trouble in considering this a ponzi.
But the consumer has much better odds trading then they do playing slots or roulette. Trading is a skill, slots are 100% a game of chance. Why are they not regulated out of existence?
Simply because the governments hand is in the pot, that is it, the only answer. They don't give two shits if someone loses THEIR LIFE SAVINGS on a roulette wheel, but how dare you develop a skillset they may have tken years to develop and make money from something the government doesn't have it's hands in.
For the naive among you, talking about they are there to 'uphold the law"..........use some coomon sense that you never tap into, look around, and you may see how the world really works.
  • #19,911
  • Sep 2, 2023 8:07am Sep 2, 2023 8:07am
Quoting Boulder
MFF FTMo are all in house liquidity{image}
A list of prop firms that have a Twitter orgy of giveaways from wannabee influencers with CEOs barely potty trained.
Pride always comes before destruction.... -Proverbs 16:18
  • #19,912
  • Sep 2, 2023 8:12am Sep 2, 2023 8:12am
Quoting Expo33
{quote} A list of prop firms that have a Twitter orgy of giveaways from wannabee influencers with CEOs barely potty trained.
his comments kind made sense though, MFF get caught by manipulating price since in house liquidity
  • #19,913
  • Sep 2, 2023 8:13am Sep 2, 2023 8:13am
Quoting Dirac
Casino/contest discussion: https://www.youtube.com/watch?v=yPZSh04yq5g
This guy's thumbnails are so cringe
Pride always comes before destruction.... -Proverbs 16:18
  • #19,914
  • Sep 2, 2023 8:17am Sep 2, 2023 8:17am
Quoting Boulder
{quote} his comments kind made sense though, MFF is caught by manipulating price since in house liquidity
There was a post from MFF, not long ago, may be ten days ago, that they are ok with pricing and do not wish to increase for a " foreseeable future "

And they have 300 millions. The real frauds are interested in that 300 millions.

So, they were not in liquidity crunch, they were having huge cash in banks.
Intraday only.
  • #19,915
  • Edited 8:29am Sep 2, 2023 8:18am | Edited 8:29am
1.Most things CFTC charges against MFF as fraud we already knew before and we didn't think those are fraud before. Now just because CFTC say they are fraud, you quickly change mind? And most here benefit from MFF, so if it is a fraud, you would be hurt not benefit.Just ask yourself,if MFF goes belly up, it is good for you or bad for you?If MFF is a fraud, you would be glad if you see MFF go broke.
2. Most things CFTC charges against MFF as fraud, you can charge against an insurance company, like when customer lose, an insurance company win.The things like drawdown, slipage, sim account, which CFTC charge as the evidences of fraud, are actually not evidences of fraud, just because CFTC misunderstand the mechanism of the business model。
3. After I read CFTC filing, I find only one thing that can be seen as evidence of fraud, is that some employees tried to reduce profit of winning trader by raise slippage or by STP their trades( put their trades into outside real market).
I would defend MFF in this aspect that at least this kind of thing is not MFF' internal policy( otherwise CFTC would list it), so it is matter of individual behavor and you can charge against individual but not the company. Also per CFTC filing,when employees STP profitable trades, the trades are usually became less profitable. That means no matter how high MFF's slippage, the trading environment inside MFF is still better than outside real market.Or we can say traders are not hurt but benefit by MFF's trading condition.
  • #19,916
  • Sep 2, 2023 8:20am Sep 2, 2023 8:20am
Quoting navk
{quote} There was a post from MFF, not long ago, may be ten days ago, that they are ok with pricing and do not wish to increase for a " foreseeable future " And they have 300 millions. The real frauds are interested in that 300 millions. So, they were not in liquidity crunch, they were having huge cash in banks.
you missed point. It’s not about how much money they have, it’s about price quote, since they are in house liquidity provider
  • #19,917
  • Sep 2, 2023 8:21am Sep 2, 2023 8:21am
Quoting wmwmw
1.Most things CFTC charges against MFF as fraud we already knew before and we didn't think those are fraud before. Now just because CFTC say they are fraud, you quickly change mind? And most here benefit from MFF, so if it is a fraud, you would be hurt not benefit. 2. Most things CFTC charges against MFF as fraud, you can charge against an insurance company, like when customer lose, an insurance company win.The things like drawdown, slipage, sim account, which CFTC charge as the evidences of fraud, are actually not evidences of fraud, just because...
Read my previous post.

The loosers call them fraud.
Intraday only.
  • #19,918
  • Sep 2, 2023 8:23am Sep 2, 2023 8:23am
Quoting Boulder
{quote} you missed point. It’s not about how much money they have, it’s about price quote, since they are in house liquidity provider
ok
Intraday only.
  • #19,919
  • Sep 2, 2023 8:28am Sep 2, 2023 8:28am
Quoting navk
{quote} Read my previous post. The loosers call them fraud.
Actually I think losers are not hurt by prop firms. Because otherwise they would lose much more if they did not trade prop forms but trade real market.
I quote what a trader said when he blow up a funded account: "I blow up $120, but I previously blow up $15000, $5000, and $8000 when I trade my live personal account."
  • #19,920
  • Sep 2, 2023 8:28am Sep 2, 2023 8:28am
One thing most prop firms can do is get rid of the closing of accounts if one hits the daily drawdown. Instead what should happen is, then person is banned from trading until the next day. This really could help traders who have yet to learn how to take advantage of the exercise concept of mark douglas.

If for example i am a prop i has the 5 dd and 10% max. If in a day a trader who uses mine loses 5% in a day, he's stopped from trading, account not closed. He can try again tomorrow. Something to that effect.

I know i broke my account a few times because of rhis until i found my way of how to pass and get payout.

Still, it sucks.

Hopefully this be resolved.
Trading is gambling. So gamble responsibly.
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