Prop Firm Hub

Quoting TrAndy1

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{quote} I also think any US or CAD resident is not allowed to participate on any prop firm very soon. Same like with FX brokers some years ago. You might take a few offshore props but they won't payout nevertheless because they operate already very shady. I find this very sad. As European I should have more time until stricter regulation takes place. But sooner or later I also have no hope here, that something will come. I just hope it will not be by far as strict as in the USA. US regulators are the worst.

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Quoting TraderTero

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{quote} The likelihood for MFF losing the case is over 90%. Some accusations are facts and some might not be but that is really insignificant here as the main goal for CFTC is to ban this type of activity in USA the same way as they did with forex brokers 10 years ago. The approach is directly from their play book.

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Quoting Takisd

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{quote} no because even the slippage most give including MFF is better than market. That’s the whole fucking problem. And why this is so dumb

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Quoting pipmaster77

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{quote} There will not be any prop firms operating in the US in a couple of months........save your money. The US just screwed anyone residing in the US making money from fx......AGAIN!!!!!!

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Quoting navk

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{quote} Too many conclusions . Let MFF fiasco to be over. I agree all prop traders got upset and do not know how to proceed. The fact is we should wait for court order. The court order could be only on MFF and will not be on citizens

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Quoting Takisd

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{quote} no because even the slippage most give including MFF is better than market. That’s the whole fucking problem. And why this is so dumb

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Quote

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70. For customers on STP, Traders Global uses its specialized software to impose an additional “spread” on the price feed visible to STP’d customers. This spread results in a customer seeing—and believing himself or herself to be executed at—a worse price than what Traders Global got from the Dealer. It allows Traders Global to give less money to a winning customer and, for a losing customer, terminate the account before the losses reach the drawdown limit. (Though it will appear to the customer that he or she exceeded the drawdown limit.)

Quoting pipmaster77

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{quote} I love your optimism, I really do. You just have no clue how this works in the USA. This will be the third rug pull of my income from the US government in the past 12-13 years. I am just an average guy with a wife and 4 kids, I break no laws. I provide for my family. I pay my taxes. My wife and I work our asses off. I still work a 9-5 for the benefits and 401K and most days, between trading and the 9-5, it is a 14-16 hour day. I developed a skill set which took many YEARS of studying and chart time and they just say "Nope, can't do that...

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Quoting Capablanca

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{quote} Takisd, what do you think specifically of number 70. ? {quote} Nothing in the whole case surprised me, except this one because it seems stp were not given normal real spreads but something with an additonal mark-up to real spreads, which I don't think it's good practice. For all the rest I felt no surprise or indignation, honestly.

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Quoting TraderTero

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{quote} We are not restricted the same way as people in USA. Online casinos are allowed and we can trade with pretty much any broker we wish. The ban on online casinos in USA was based on protecting Las Vegas and local lotteries. Sadly money comes always before freedom in USA.

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Quoting navk

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{quote} It will not affect existing clients with any prop firm. The new sign ups not possible if court decides in that way

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Quoting pipmaster77

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{quote} Not the way it works. I had accounts with several brokers when Dodd Frank passed. Yes, first it was no new US clients. Shortly thereater, it was "here is your money, you have to go now."

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Quoting TrAndy1

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Breaking news regarding payouts on other prop firms. They will postponed for the unseeable future. So bad. I hope this will not be for all major prop firms the case. {image}

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Quoting navk

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{quote}We all need to find a residency somewhere outside of us/canada then. ( If that happens ) And still trade from USA/Canada thro VPN.

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Quoting pipmaster77

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{quote} KYC stops that. There is no workaround. Some of us here have been trying for 10+ years.

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Quoting pipmaster77

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{quote} KYC stops that. There is no workaround. Some of us here have been trying for 10+ years.

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Quoting pipmaster77

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{quote} US firms? If this is true........The CFTC in one freaking day just shut the entire industry down. Anyone see the problem yet?

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