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  • #20,361
  • Sep 3, 2023 4:25pm Sep 3, 2023 4:25pm
Quoting Ch23
For me am Done with the Prop Firms , and now am rebuilding My Track Record ,, looking towards Private investors and the Banks.
how long / many years does it take to be able to trade with the banks. Also how do you apply for those? Do you mean you are going to be a hedge fund manager?
  • #20,362
  • Sep 3, 2023 4:33pm Sep 3, 2023 4:33pm
You have to have a System in Place and be Profitable only and that's what I am. After that build a track record which will work as your CV ,, but most importantly its Profitability, that's what investors want.
  • #20,363
  • Sep 3, 2023 4:39pm Sep 3, 2023 4:39pm
Quoting Ch23
You have to have a System in Place and be Profitable only and that's what I am. After that build a track record which will work as your CV ,, but most importantly its Profitability, that's what investors want.
where do u send ur application/resume.
  • #20,364
  • Sep 3, 2023 4:46pm Sep 3, 2023 4:46pm
Quoting KoyaAndy18
{quote} where do u send ur application/resume.
There isn't an exact place to send , you just send were you see it's actually fit for yourself .
  • #20,365
  • Sep 3, 2023 4:55pm Sep 3, 2023 4:55pm
Quoting KoyaAndy18
{quote} how long / many years does it take to be able to trade with the banks. Also how do you apply for those? Do you mean you are going to be a hedge fund manager?

Hedgefunds - Do you have a MBA + 2 year track record on a live broker account?
  • #20,366
  • Sep 3, 2023 5:05pm Sep 3, 2023 5:05pm
Quoting CableJ
{quote} Hedgefunds - Do you have a MBA + 2 year track record on a live broker account?
Trust me all these you mentioned isn't necessary really take out MBA Degree and be left with a live Track record and a Track Record it can be it a Demo or Prop firm but Profitable for a certain time 6 months through out going to a year ,, And Remember Banks usually do put you on their trial too and private investor too.
  • #20,367
  • Sep 3, 2023 5:11pm Sep 3, 2023 5:11pm
Quoting Expo33
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 {image}
which broker they offer ? mt 4 ?
Intraday only.
  • #20,368
  • Sep 3, 2023 5:13pm Sep 3, 2023 5:13pm
For any in here talking about Dual citizenships as US citizens...

2nd passports show original place of birth, once it says United States you are persona non grata to banks

Brokers may still deal with you "IF" you are an Eligible Contract Participant (ECP) exempt from Dod Frank Regulations (>10M assets).

The major problem is finding a foreign bank willing to deal with you as a US citizen due to FATCA. After the revealing of the Panama Papers, the US was able to use that as a stick along with the threat that banks will be completely banned from US markets (Fed discount window, USD Swift wires, Treasury market, US Corp bond market) if they don't comply with FATCA. Almost every jurisdiction on the planet outside of Russia, Iran & China agreed to bend the knee to the US and report direct to IRS. Most banks abroad simply refuse to deal with the regulation reporting requirements by banning US clients.

The only escape from the SEC/CFTC/IRS is to renounce your citizenship and pay your exit taxes.
  • #20,369
  • Sep 3, 2023 5:20pm Sep 3, 2023 5:20pm
Quoting CableJ
For any in here talking about Dual citizenships as US citizens... 2nd passports show original place of birth, once it says United States you are persona non grata to banks Brokers may still deal with you "IF" you are an Eligible Contract Participant (ECP) exempt from Dod Frank Regulations (>10M assets). The major problem is finding a foreign bank willing to deal with you as a US citizen due to FATCA. After the revealing of the Panama Papers, the US was able to use that as a stick along with the threat that banks will be completely banned from US...
Exactly correct again. All of these non US citizens telling us how easy it is......just do this or that.......I'm sure your intentions are good, but you have no idea what we are dealing with in this country.
  • #20,370
  • Sep 3, 2023 5:21pm Sep 3, 2023 5:21pm
Quoting Expo33
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 {image}
I signed up and gave them a try.
  • #20,371
  • Sep 3, 2023 5:22pm Sep 3, 2023 5:22pm
Quoting CableJ
The only escape from the SEC/CFTC/IRS is to renounce your citizenship and pay your exit taxes.
-Renunciation is a viable option for some, especially those that can obtain multiple passports.

In terms of brokers, many allow other forms of Identification (such as government/state ID and driver's license etc.), in combination with a secondary form, such as proof of residence. Providing a passport is not always necessary.

Setting up bank accounts is also not very difficult if you have a non-US passport. There are some countries/banks, as you say, however, that will not accept you, even if you have a non-US passport if they can determine that you also hold a US passport (unless you are wealthy).
  • #20,372
  • Sep 3, 2023 5:38pm Sep 3, 2023 5:38pm
Quoting Nsak3y
{quote}-Renunciation is a viable option for some, especially those that can obtain multiple passports. In terms of brokers, many allow other forms of Identification (such as government/state ID and driver's license etc.), in combination with a secondary form, such as proof of residence. Providing a passport is not always necessary. Setting up bank accounts is also not very difficult if you have a non-US passport. There are some countries/banks, as you say, however, that will not accept you, even if you have a non-US passport if they can determine...
A friend of mine did exactly that, renounced and obtained a very good EU-based passport on the grounds of ancestry.
  • #20,373
  • Sep 3, 2023 5:57pm Sep 3, 2023 5:57pm
Bought my first ever 100k challenge and its through 5ers wish me luck guys. I still believe MFF is legit although with all the allegations, and I am still thankful with them. But just in case they lost their battle, 5ers now is my new home and my go to prop firm. Hoping that US and CA regulators will not come after the Israelites.
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  • #20,374
  • Sep 3, 2023 6:02pm Sep 3, 2023 6:02pm
Quoting KoyaAndy18
Bought my first ever 100k challenge and its through 5ers wish me luck guys. I still believe MFF is legit although with all the allegations, and I am still thankful with them. But just in case they lost their battle, 5ers now is my new home and my go to prop firm. Hoping that US and CA regulators will not come after the Israelites. {image}
Good Luck we wish you Success all the Way! !!!
  • #20,375
  • Sep 3, 2023 6:15pm Sep 3, 2023 6:15pm
Quoting Ch23
{quote} Good Luck we wish you Success all the Way! !!!
Wish you best of luck.

You will succeed.
Intraday only.
  • #20,376
  • Sep 3, 2023 6:17pm Sep 3, 2023 6:17pm
Quoting KoyaAndy18
Bought my first ever 100k challenge and its through 5ers wish me luck guys. I still believe MFF is legit although with all the allegations, and I am still thankful with them. But just in case they lost their battle, 5ers now is my new home and my go to prop firm. Hoping that US and CA regulators will not come after the Israelites. {image}
This has been on their site atleast since I first looked into them almost 3 years ago:

Under a 3rd party contract, The 5%ers recruits genuine and speculative traders to work for the company, and to manage the compan’y funds on the company’s platform and using the company’s assets and funds.
The 5%ers provides fully-funded forex trading accounts with monthly profit payout plans and lucrative growth scenarios to traders who qualify for the program’s trading requirements.
The 5%ers is not a broker, not associated with any particular broker, and does not serve financial trading services of any type.
The 5%ers does not invest clients capital in the financial markets. All funding of clients’ accounts is sourced by the owner’s own capital.

The5ers is aware of the regulatory requirements in the US, and it operates by a restrictive legal advisory to fully fulfill the US law and regulatory requirements. The full document will be provided to any official enforcement organization of the US authorities by official and authorized requests to [email protected].

Don't know how much weight it actually holds, but it appears they worked with the regulator(s) BEFORE they began operations.
I just never liked their models, now that they have their new offering, I most likely will give them a shot.
  • #20,377
  • Sep 3, 2023 7:49pm Sep 3, 2023 7:49pm
If your head is still stuck in the sand, don't bother to watch this

Inserted Video


It takes a lot for me to IGNORE you, but you can try.
  • #20,378
  • Sep 3, 2023 7:58pm Sep 3, 2023 7:58pm
Quoting pipmaster77
{quote} This has been on their site atleast since I first looked into them almost 3 years ago: Under a 3rd party contract, The 5%ers recruits genuine and speculative traders to work for the company, and to manage the compan’y funds on the company’s platform and using the company’s assets and funds. The 5%ers provides fully-funded forex trading accounts with monthly profit payout plans and lucrative growth scenarios to traders who qualify for the program’s trading requirements. The 5%ers is not a broker, not associated with any particular broker,...

Which offering? Their new HighTakes challenge?
Trade with confidence, trade without fear.
  • #20,379
  • Sep 3, 2023 8:19pm Sep 3, 2023 8:19pm
Quoting navk
{quote} which broker they offer ? mt 4 ?
MT4, Blueberry and Purple
Pride always comes before destruction.... -Proverbs 16:18
  • #20,380
  • Edited 9:47pm Sep 3, 2023 8:20pm | Edited 9:47pm
Quoting Boulder
{quote} I signed up and gave them a try.
Good Luck.

I'll probably buy another challenge from them as well
Pride always comes before destruction.... -Proverbs 16:18
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