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  • #20,561
  • Sep 4, 2023 10:47am Sep 4, 2023 10:47am
What does IC Markets or any larger FX broker did not step in so far ?

Ask this yourself ? Are there any legal burdens or issues ?

Why did 8cap and other broker who does support the prop firm business have not overtaken the whole prop firm business if so many hundred of millions can be made out of it ?

Who knows the answer or has an opinion about those facts ?
  • #20,562
  • Sep 4, 2023 10:50am Sep 4, 2023 10:50am
i cant believe the level of delusion and denial in here
i shouldnt get involved because i dont care who loses what and how much LOL


but since its a holiday in usa im speaking out


every ponzi scheme i ever heard of and i think its part of the definition pays out a little money to keep enticing new suckers to come into it which is exactly what kazmi was doing

the guy was a baby madoff and had his knees cut off before he became a full fledged madoff LOL

what more every prop firm operates this way so looking for a offshore one is worse cause nobody will be there to stop the con artists

i understand why people from poor countries and poor americans that cant afford a real brokerage account with interactive brokers or some other company like that are fuelling this prop scam...but you people are part of the problem

if i got burned by MFF because i listened to idiots in here vouch for the company as one of the safest, most honest than i wouldnt listen to those same dorks continue with their bullshit vouching for other companies LOL

thats all ill ever say about this in here ever again...ill just watch in amusement as more people get fleeced by the companies and the shills that work this room
short trump and go long the deepstate
  • #20,563
  • Sep 4, 2023 10:52am Sep 4, 2023 10:52am
My opinion is, the brokers have outsourced the prop firm business, because there are legal risks involved. (which now comes true with CFTC as first regulator)
  • #20,564
  • Edited 11:12am Sep 4, 2023 10:57am | Edited 11:12am
It feels like playing around the B-Booking business from FX brokers. Which I heard is a $20 billion (!) business per year. So MFF and Co. only had less than 5% of that juicy cake.
  • #20,565
  • Sep 4, 2023 11:10am Sep 4, 2023 11:10am
Quoting KoyaAndy18
{quote} do you trust finovative? do they have any major scandals or known issues?
I thought they were legitim. I had an account with them and it was the fastest payment I had ever (like 2 hours or so) until FXIY beat this.

When I busted that account I have not tried them again because they had the rule that if you busted one account you would have the payout reduced to 25% in a future account until you paid back all the losses.

This, obviously, kept people from coming back to them so, at some point, they eliminated this rule. You could come back and have the normal payout.

And there's where the problems started to happen.

I saw a guy claiming in telegram that after phase 2 they refused him the funded account based in past losses (they refunded him the challenge).
Apparently he had lost 3 account previously or so. This is real because the Finotive rep in the group didn't deny it and even confirmed it and tried to justify the decision. They were very flogged for this.

So, they knew he had bad performance and allowed him to go on purchasing challenges. This is not honest behavior because if he lost, good for them. If he passed they would not provide account and refund him. It's basically a no lose situation for Finotive and a no win for the trader.

In resume, I think they are fine if you never had an account with them before. It's unlikely that you will have problems. If you lose a fund account then it's better to think twice if you want to come back they may refuse the account.

And this is my assessment of last Thursday. Today I know nothing about props with all this mess.

Btw, they have a lot of rules that you need to follow. SL in all orders in 60 seconds (+30 seconds if you enter a mistake) and a max of 50% of the daily DD in a single instrument. Calculation can be a little bit confusing if people trade often. And they only tell you at the end. So you may be working 2 months to pass and then they tell you that you have to repeat because you missed a SL 24 days ago in one of your 134 trades.
  • #20,566
  • Sep 4, 2023 11:11am Sep 4, 2023 11:11am
Quoting Takisd
Some folks in here who hate the US gov probably would say they are not surprised but having been involved in stuff like this when dodd frank came out I can say that its highly unusual behavior and it seems strangely personal.
-Anyone that follows the regulatory movement in this space lately, especially surrounding crypto, can see that there are some very strange things happening. There are definitely agendas at work here.
  • #20,567
  • Edited 11:44am Sep 4, 2023 11:24am | Edited 11:44am
The STP had shown that quoting and execution was worse than MFF his own datafeed. So bad or unfair trading conditions from MFF side is garbage.
BUT the traders all traded on FX prop firms CFDs with over 50:1 leverage, so that is not allowed for all US residents. Here is a point from CFTC side I see.
So they will likely forbid for all US residents trading CFDs. In UK it is different trading with CFDs is allowed but in EU no more than 30:1 leverage, recently also with leverage restriction in Australia, so I expect a change here on FX prop firms, on that point.

(I hope I did not shock too many today with my posts , but I think it must be said (at least once.))
  • #20,568
  • Sep 4, 2023 11:44am Sep 4, 2023 11:44am
Quoting TrAndy1
The STP had shown that quoting and execution was worse than MFF his own datafeed. So bad or unfair trading conditions from MFF side is garbage. BUT the traders all traded on FX prop firms CFDs with over 50:1 leverage, so that is not allowed for all US residents. Here is a point from CFTC side I see. So they will likely forbid for all US residents trading CFDs. In UK it is different trading with CFDs is allowed but in EU no more than 30:1 leverage, recently also with leverage restriction in Australia, so I expect a change here on FX prop firms, on...
BUT all traders did not trade any product so even NO CFDs too because it was all simulated or virtual trading. So maybe there could be also an exception even for US residents. If in fact no CFDs were REALLY traded only VIRTUAL CFDs where is the problem then ? Even for 100:1 leverage I see no problem then if all is virtual. But then STP thing is bad, because a part really hit the CFD market, which is then NOT okay. So in the end MFF would need a kind of gambling license only for taking hundreds of millions of real money. That could be all, in the best case or outcome I think.
  • #20,569
  • Sep 4, 2023 11:49am Sep 4, 2023 11:49am
Another problem I see in the near future on all FX prop firms, that nearly noone is getting a payout like less than 1% of all traders.
BUT there are more than 1% of all loosing traders COMPLAINING about the prop firm...
SO that can have more cases from regulators because of that imbalance between number of complaints in relation to profitable traders.
  • #20,570
  • Sep 4, 2023 12:00pm Sep 4, 2023 12:00pm
Quoting Nsak3y
{quote}-Anyone that follows the regulatory movement in this space lately, especially surrounding crypto, can see that there are some very strange things happening. There are definitely agendas at work here.
Always. That is the way this country (and most others) work. Anyone in here touting regulation is either naive to this fact or has their own agenda.
Once again, "protection" of the consumer is not the agenda, otherwise one could not go plunk their life savings on black in a casino.
How on one hand, they are telling us we are too freaking dumb to manage our own money and we need to be regulated, but many other things consumers can lose a lot of money on are OK? It's so simple, it is common sense....does it benefit the government....if so, it's OK, if not, it's not OK.
  • #20,571
  • Sep 4, 2023 12:02pm Sep 4, 2023 12:02pm
Quoting TrAndy1
Another problem I see in the near future on all FX prop firms, that nearly noone is getting a payout like less than 1% of all traders. BUT there are more than 1% of all loosing traders COMPLAINING about the prop firm... SO that can have more cases from regulators because of that imbalance between number of complaints in relation to profitable traders.

u see the complain but not the cheating. so far day before mffs shutdown this forum parised by many shittyheads that mff is honest. ( yes I'm also live trader from mff. bought multiple challenges) but point is honesty. not only mff all other firm doing this. that's is a problem for me. and ppl complaining bcz they loose bcz of manipulation. who loses due to trading issues or applying prohibited trading methods nothing to say about them. they looses bcz of their dishonesty or trading skill. but the number is huge those are affected infact lost so many bcz of firms macanizm. and on every forum, channel or platform there are large no of spineless fanbase those job is when ever anyone share any scam report if that goes against their favorite firm they try to prove the problem is on the trader . so where those ppl will go certainly to the authority.
  • #20,572
  • Sep 4, 2023 12:02pm Sep 4, 2023 12:02pm
What igorant person from Apex...(of course not all but certain aspects are involved in the latest CFTC claim)
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  • #20,573
  • Sep 4, 2023 12:07pm Sep 4, 2023 12:07pm
Quoting inversio
{quote} u see the complain but not the cheating. so far day before mffs shutdown this forum parised by many shittyheads that mff is honest. ( yes I'm also live trader from mff. bought multiple challenges) but point is honesty. not only mff all other firm doing this. that's is a problem for me. and ppl complaining bcz they loose bcz of manipulation. who loses due to trading issues or applying prohibited trading methods nothing to say about them. they looses bcz of their dishonesty or trading skill. but the number is huge those are affected infact...
Also true to some extent........but you also need to consider some traders were only profitable BECAUSE of the existence of prop firms and their GOOD offers.

Look at their scores, they provided value, so even with a 50/50 random strategy WITHOUT any edge you could make money from those prop firms.
(I think have demonstrated the math earlier in this thread that you could make money without having any alpha on the trader his strategy (but not sure).)

BIG PRO argument for those props!
(Because they, the FX prop firms, also needed to protect themselves (e.g. reverse trading across multiple prop firm accounts).)
(And do not forget Funding Talent which had unrealistic good trading spreads and execution fills and then went bust because of that feed.)
(And do not forget around 8cap their datafeed there are still many prop passing services offering tick scalping strategies to make 100% passing for sure.
So any additional slippage and delaying was only in the survival interest of any such FX prop firm.)
  • #20,574
  • Sep 4, 2023 12:19pm Sep 4, 2023 12:19pm
[quote=TrAndy1;14562718]{quote} Oh no. You are mixing things. If you give money then trader needs to be licensed or you. Point. If any prop is giving you money instead of pure leverage only, they also need to be licensed, so you can take that real money which is foreign money for you and trade with it. Point. Everything else is illegal and crime. Point. Only trading with virtual funds like on most such FX props here is okay with Bafin, German regulator and all kind of EU regulators too. I cannot speak for whole world, but this should be true in all kind of major jurisdictions. In USA I know for example you also need to be licensed to take other peoples or firms their money, if that person or firm is not already licensed and regulated by US laws there. Point. Do not come to me stupid. I am finished here. I am not a lawyer but I know some basic laws in the financial world.[/quot

I quote Keanu Reeves here. ” i am that in that point of my life that even if you say that 1+1=5 I am happy to say that you are right.
  • #20,575
  • Sep 4, 2023 12:22pm Sep 4, 2023 12:22pm
The big question is whether traders are perceived to be investors or gamblers?

For example, in theory, I can offer 10000$ Funded account for 9999$ with some easy challenge, without regulation just to offer CFD trading, no?

Therefore, MFF should go for gambling side.
  • #20,576
  • Sep 4, 2023 12:23pm Sep 4, 2023 12:23pm
Quoting TrAndy1
{quote} Also true to some extent........but you also need to consider some traders were only profitable BECAUSE of the existence of prop firms and their GOOD offers. Look at their scores, they provided value, so even with a 50/50 random strategy WITHOUT any edge you could make money from those prop firms. (I think have demonstrated the math earlier in this thread that you could make money without having any alpha on the trader his strategy (but not sure).) BIG PRO argument for those props! (Because they, the FX prop firms, also needed to protect...

look, how many are earned and how much that doesn't matter. u cant rob other ppl. and now its clear that almost none goes to live. so only the challenge fee covers the winner's trader payment. and which comes from some one's pocket and many of them r just robbed.

i tried almost 15 challenges with mff. 2 ACC busted bcz of their dishonesty. other went for my fault. I've no complain if a trader failed challenges bcz of trading failure. that's common in fx, more that 60% failed here. and also those use prohibited trading strategies should be terminated with no complain. but u cant rob a single person and pay to other from that. that's simple.
  • #20,577
  • Sep 4, 2023 12:27pm Sep 4, 2023 12:27pm
Quoting TrAndy1
Another problem I see in the near future on all FX prop firms, that nearly noone is getting a payout like less than 1% of all traders. BUT there are more than 1% of all loosing traders COMPLAINING about the prop firm... SO that can have more cases from regulators because of that imbalance between number of complaints in relation to profitable traders.
1% of accounts, not traders, + not same accounts.
  • #20,578
  • Edited Mar 31, 2026 9:39am Sep 4, 2023 12:31pm | Edited Mar 31, 2026 9:39am
JFC, three crazy broads vs MFF
{ personal information deleted by staff, per request }
Trade with confidence, trade without fear.
  • #20,579
  • Sep 4, 2023 12:33pm Sep 4, 2023 12:33pm
Quoting inversio
{quote} look, how many are earned and how much that doesn't matter. u cant rob other ppl. and now its clear that almost none goes to live. so only the challenge fee covers the winner's trader payment. and which comes from some one's pocket and many of them r just robbed. i tried almost 15 challenges with mff. 2 ACC busted bcz of their dishonesty. other went for my fault. I've no complain if a trader failed challenges bcz of trading failure. that's common in fx, more that 60% failed here. and also those use prohibited trading strategies should be...
So we can agree that we disagree ? Because I have different opinion. If you failed that it is your own fault and not MFF their fault. Their quoting is good (for me).
  • #20,580
  • Sep 4, 2023 12:34pm Sep 4, 2023 12:34pm
Quoting TrAndy1
{quote} So we can agree that we disagree ? Because I have different opinion. If you failed that it is your own fault and not MFF their fault. Their quoting is good (for me).

yes if u say 1+1 = 1000 I wont mind
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