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  • #20,881
  • Sep 6, 2023 11:15am Sep 6, 2023 11:15am
Quoting Takisd
Bespoke eating shit by money laundering in pakistan. What a dramatic place we operate in.
Care to explain ?
  • #20,882
  • Sep 6, 2023 11:28am Sep 6, 2023 11:28am
Lets be honest here. No prop firm is decent or reliable no matter how much we look.The only thing one can do is to inform others if they provide withdrawals and how quick and or cancel accounts and at which account size.

You want to trade live account? Then you must file as professional trader . Higher tax in most countries. More fees in prop firms.

In reality simulated environment is the best then to use that to fund the real account one got as others mentioned here. If the rest of the prop firms act as MFF did behind the scenes we need to get an edge too. This forum is the only place we get that as far as I know.

It appears the regulators allow prop firms to operate even for a year before slamming it. To gather enough evidence I assume. The question is was there any signal about this one year ago in how MFF behaved which could have warned us.

So in theory one should test new prop firms see as collective if they pay out and in what levels. This could also give some edge.
  • #20,883
  • Sep 6, 2023 11:36am Sep 6, 2023 11:36am
Quoting TraderTero
{quote} The demand is so big that no regulator can stop it. Money talks. It would be interesting to know how big part of the MFF clientele were US citizens. My guess is about 30%.
I'd say you are pretty close yeh
  • #20,884
  • Sep 6, 2023 11:37am Sep 6, 2023 11:37am
Quoting Capablanca
{quote} Care to explain ?
They had an "office" in pakistan taking cash payments for accounts. Then they banned a bunch of alleged cheats and the office kept 100k as ransom. Now they are battling it out in public. Both parties not realizing what they were doing is money laundering.
  • #20,885
  • Sep 6, 2023 12:09pm Sep 6, 2023 12:09pm
Quoting labu
The question is was there any signal about this one year ago in how MFF behaved which could have warned us.
Quoting pipmaster77
What's MFF up to?
Attached Image (click to enlarge)
Click to Enlarge Name: MFF.PNG Size: 76 KB
-Maybe the plans were already in the works.
  • #20,886
  • Sep 6, 2023 12:42pm Sep 6, 2023 12:42pm
Quoting Nsak3y
{quote} {quote}-Maybe the plans were already in the works. {image}
We will probably never know what that was going to be.
  • #20,887
  • Sep 6, 2023 12:54pm Sep 6, 2023 12:54pm
Quoting pipmaster77
We will probably never know what that was going to be.
-Josh was always looking to set up physical trading desks, so maybe they had some plan for that. Who knows...
  • #20,888
  • Sep 6, 2023 1:01pm Sep 6, 2023 1:01pm
Quoting Nsak3y
{quote} {quote}-Maybe the plans were already in the works. {image}
I think they solved the order flow matter.
  • #20,889
  • Sep 6, 2023 1:12pm Sep 6, 2023 1:12pm
It's an interesting thought, but I'm not sure how that would allow traders to earn after losing their accounts?

If the CFTC document wasn't cherry-picked excerpts of the worst conversations, then we might have some better idea, but based on the little bit that we do have, it would be easy to surmise that they were not even remotely concerned about order flow.

I expect that all employees have been advised to not speak publicly about anything. It would be nice to ask questions. I still would like to know more about Josh's involvement, as he wasn't even mentioned.
  • #20,890
  • Sep 6, 2023 1:18pm Sep 6, 2023 1:18pm
Some mff trial evidence being shared on x by 2M$.
  • #20,891
  • Sep 6, 2023 1:19pm Sep 6, 2023 1:19pm
Fx2funding stops accepting US and Canadian clients

https://fx2funding.com/important-upd...m_medium=email
  • #20,892
  • Sep 6, 2023 1:26pm Sep 6, 2023 1:26pm
[quote=labu;14565972]Lets be honest here. No prop firm is decent or reliable no matter how much we look.The only thing one can do is to inform others if they provide withdrawals and how quick and or cancel accounts and at which account size. You want to trade live account? Then you must file as professional trader . Higher tax in most countries. More fees in prop firms. In reality simulated environment is the best then to use that to fund the real account one got as others mentioned here. If the rest of the prop firms act as MFF did behind the scenes we need to get an edge too. This forum is the only place we get that as far as I know. It appears the regulators allow prop firms to operate even for a year before slamming it. To gather enough evidence I assume. The question is was there any signal about this one year ago in how MFF behaved which could have warned us. So in theory one should test new prop firms see as collective if they pay out and in what levels. This could also give some edge.[/quote


They found themselved Flagged by Canadian securities administratiors July 2022, not registered, not allowed to solicit investors in Quebec.
  • #20,893
  • Sep 6, 2023 1:32pm Sep 6, 2023 1:32pm
Quoting Nsak3y
It's an interesting thought, but I'm not sure how that would allow traders to earn after losing their accounts? If the CFTC document wasn't cherry-picked excerpts of the worst conversations, then we might have some better idea, but based on the little bit that we do have, it would be easy to surmise that they were not even remotely concerned about order flow. I expect that all employees have been advised to not speak publicly about anything. It would be nice to ask questions. I still would like to know more about Josh's involvement, as he wasn't...
I am only sharing my opinion here but I think that the fraud stuff is all bogus based on an infrastructure set up.

I believe that the code violations are the target but the purpose of the fraud accusation is to burn it all down so that it can't survive.
  • #20,894
  • Sep 6, 2023 1:32pm Sep 6, 2023 1:32pm
Quoting rizla101
Some mff trial evidence being shared on x by 2M$.
Can you share more on this?
  • #20,895
  • Sep 6, 2023 1:36pm Sep 6, 2023 1:36pm
Quoting Takisd
I believe that the code violations are the target but the purpose of the fraud accusation is to burn it all down so that it can't survive.
-That sounds accurate.
  • #20,896
  • Sep 6, 2023 1:37pm Sep 6, 2023 1:37pm
Quoting rizla101
shared on x by 2M$.
-Couldn't find anything by that name.
  • #20,897
  • Sep 6, 2023 1:38pm Sep 6, 2023 1:38pm
Quoting navk
{quote} The notice does not talk about broker. It talks about Prop form, prop firm model and Firm owner for which no regulation needed.
"Traders Global was the counterparty to most customer trades rather than third-party liquidity providers." Trader Global act like a broker...
  • #20,898
  • Sep 6, 2023 1:46pm Sep 6, 2023 1:46pm
Quoting Nsak3y
{quote}-Couldn't find anything by that name.

@TraderNOK easier to look then me relay details.
  • #20,899
  • Sep 6, 2023 1:56pm Sep 6, 2023 1:56pm
Quoting rizla101
@TraderNOK easier to look then me relay details.
-Thanks. I spent about 10 minutes looking before I quit. My social media skills are not impressive.
  • #20,900
  • Sep 6, 2023 1:57pm Sep 6, 2023 1:57pm
Quoting TrAndy1
{quote} Probably the best to wait until the dust settles with prop firms and until then trading on personal account at regular fx broker, I think so too. But I am already involved into prop firms, so I will continue trading them but I won't buy any new challenges at all.
What is your view on Audacity Capital https://www.audacitycapital.co.uk/
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