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  • #20,341
  • Sep 3, 2023 12:45pm Sep 3, 2023 12:45pm
Quoting sampat
{quote} Their conditions are 10 times more difficult and 10 times more expensive plus u have to be day trader closing everything at 5 pm est. Plus u can't trade cross pair.
yup, no thanks to top step & co
  • #20,342
  • Sep 3, 2023 12:47pm Sep 3, 2023 12:47pm
TFF, FTMO, FXIFY so far on my list as additions to duplicate MFF 1 X 200.
Intraday only.
  • #20,343
  • Sep 3, 2023 12:48pm Sep 3, 2023 12:48pm
Quoting navk
{quote} Dual residents will have all.
Dual RESIDENCY is difficult to maintain. Plus is the matter of DOMICILE. You have to find out the requirements for each country for which you have citizenship, and then figure out if it is even possible for you to arrange your lifestyle to pull it off.
To free Gazans of Hamas, use whatever it takes.
  • #20,344
  • Sep 3, 2023 12:48pm Sep 3, 2023 12:48pm
Inserted Video
  • #20,345
  • Sep 3, 2023 12:52pm Sep 3, 2023 12:52pm
Quoting DrDave
{quote} Dual RESIDENCY is difficult to maintain. Plus is the matter of DOMICILE. You have to find out the requirements for each country for which you have citizenship, and then figure out if it is even possible for you to arrange your lifestyle to pull it off.
Dual resident people will have home in both countries with address.

Trade thro vpn.

Get the withdrwal thro deel and bring the money to bank where you reside.

Pay taxes as worldwide income.

All are legal I suppose.

This is the worst case
Intraday only.
  • #20,346
  • Sep 3, 2023 12:52pm Sep 3, 2023 12:52pm
Quoting Capablanca
{quote} I understand your point but I'm not sure about the repeat and repeat. Let's see if we still have time for that or if this great conditions will simply vanish. One thing that I definitely regret right now if not having hit very strong and big some props, the more I could, very fast.
By repeat I mean that trading heavily smaller accounts you often lost them but overall is only important whole monthly income vs invested money. The other difference is that this way you do things faster, you either go funded with small account within 2-3 days in average or you go for another one. Once funded you trade it exact same way like challenge, one trade , profit around 5% you go to another account and the one with profit waiting for payout.
  • #20,347
  • Sep 3, 2023 12:56pm Sep 3, 2023 12:56pm
Quoting TraderTero
Only the poor are being protected.
-Yes, protected is a good word for it. We are really good about using language here. We also have substitutions for words like bribery, which is supposed to be illegal, but is perfectly fine when it is being called lobbying.
  • #20,348
  • Sep 3, 2023 1:12pm Sep 3, 2023 1:12pm
There you go:

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  • #20,349
  • Sep 3, 2023 1:13pm Sep 3, 2023 1:13pm
This is from Aug 7, 2021 19:05
Quoting mcquak
{quote} IMO some regulation will be introduced sooner or later on this kind of business across EU/US. Luckily enough, regulators are often lazy, so who knows how long it takes. Enjoy your profit splits until then.
And here we go.

CFTC Charges “My Forex Funds” with Fraudulently Taking Over $300 Million From Customers Hoping to Become Professional Traders | CFTC
  • #20,350
  • Sep 3, 2023 1:15pm Sep 3, 2023 1:15pm
Quoting DrDave
{quote} Dual RESIDENCY is difficult to maintain. Plus is the matter of DOMICILE. You have to find out the requirements for each country for which you have citizenship, and then figure out if it is even possible for you to arrange your lifestyle to pull it off.
Actually you do not have to be a citizen to be a resident of many countries.
Domicile or habitat is usually required to determine tax status and prove residency.
There are several issues at play.
What does the government of the country want to determine residency is one issue.
What does the Forex broker and prop firm want to determine residency.
May or may not be the same.
  • #20,351
  • Sep 3, 2023 1:21pm Sep 3, 2023 1:21pm
Quoting navk
dual citizenship.
-Dual citizenship is an excellent option, especially for those that reside in overly-oppressive regulatory jurisdictions and are able to pull it off.

If you are not able to obtain dual citizenship through derivation or some other natural method, you can obtain it through a handful of countries that offer citizenship-by-investment programs and/or through residency schemes that are often less costly but more time-consuming. If you have money, you can basically buy your citizenship in some countries for as little as 100k. In most cases, you do not even need to live there.

Renunciation may be a consideration for some, especially after obtaining 2 or more additional passports. This may allow people to significantly minimize or even eliminate their taxable income from trading. Some passports may offer equally-beneficial or better visa benefits over what some people currently have. By being able to freely move around and set up bank accounts in various locations etc., people can further-protect their assets and mitigate potential issues midst the ongoing, global-political instability et al., while also gaining access to currently-unreachable opportunities as more doors become open to them.

Unsurprisingly, many governments are starting to push back on these passport programs and golden visa schemes, often citing the usual, national security nonsense. This is because most governments are self-serving and working agendas that do not correlate with the interests of the people or fostering well-being etc.. They want to be able to keep money in-country, where it can be repeatedly taxed and monitored.
  • #20,352
  • Sep 3, 2023 1:30pm Sep 3, 2023 1:30pm
Quoting Boulder
{quote} That is exactly how I felt all along for years, I left communist China and came to US for the freedom of the country, but I get controlled by the new government. I had to use my brother's ID in China to trade in ICMarkets for years now. Now I probably have to use his ID to trade prop firms in the near future.
wait, so you can trade a foreign CFD broker in China? I thought China had its own CFD broker in the country?? It surprises me that a "strict" country like CN still allow their citizen to trade CFD from overseas brokers, seems like they can't do anything with this type of business huh
  • #20,353
  • Sep 3, 2023 1:59pm Sep 3, 2023 1:59pm
300 million dollars wow! and that is probably a gross underestimate
  • #20,354
  • Sep 3, 2023 2:08pm Sep 3, 2023 2:08pm
Quoting dantpm
{quote} Actually you do not have to be a citizen to be a resident of many countries. Domicile or habitat is usually required to determine tax status and prove residency. There are several issues at play. What does the government of the country want to determine residency is one issue. What does the Forex broker and prop firm want to determine residency. May or may not besses the same.
That's my point: It is not just a simple matter of having dual citizenship or even dual residency. There are many many points that must be addressed to be able to trade an account registered in one country while living in another country.
To free Gazans of Hamas, use whatever it takes.
  • #20,355
  • Sep 3, 2023 2:48pm Sep 3, 2023 2:48pm
Do you guys think its safe to start a challenge with FTMO right now?
  • #20,356
  • Edited Sep 4, 2023 12:15am Sep 3, 2023 2:51pm | Edited Sep 4, 2023 12:15am
Quoting ianhjulberg
Do you guys think its safe to start a challenge with FTMO right now?
Nothing is safe. But I pay yestarday for 100k to TFF.
  • #20,357
  • Sep 3, 2023 3:30pm Sep 3, 2023 3:30pm
Quoting ianhjulberg
Do you guys think its safe to start a challenge with FTMO right now?
FTMO is in Europe, so not concerned for the moment. But... who knows...
  • #20,358
  • Sep 3, 2023 3:46pm Sep 3, 2023 3:46pm
Quoting Nsak3y
{quote}-This is why I strongly advocate for an opt-out clause. If government allowed its citizens the ability to opt-out of various regulatory protections, then it would open so many doors from a trading and investment standpoint. But why that will likely never happen? Because it does not benefit certain groups here.
Which goes back to the point of it having absolutely NOTHING to do with protection US citizens.
  • #20,359
  • Sep 3, 2023 4:11pm Sep 3, 2023 4:11pm
Email from The Funded Engineer. All is well in Dubai.

Not a recommendation but I did try them last month. Blew up a 10K account. Credentials came instantly. Trading conditions were fine for me but as I always say, I only trade major FOREX pairs during decent times of liquidity and don't trade Indices so I don't pay attention or worry about slippage, etc.

Let the coupon orgies begin
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Pride always comes before destruction.... -Proverbs 16:18
  • #20,360
  • Sep 3, 2023 4:19pm Sep 3, 2023 4:19pm
For me am Done with the Prop Firms , and now am rebuilding My Track Record ,, looking towards Private investors and the Banks.
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