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  • #20,961
  • Sep 7, 2023 1:22am Sep 7, 2023 1:22am
Quoting navk
{quote} ok. Mine is 100k account. I just made 13 $ ..first day. This is needed for on - demand withdrawal after 24 hrs from placing first trade. The profit share + Fee + 25 %
Nice but I don't understand. You mean you placed a withdrawal after making $13? I thought you have to make 5-10% profits on prop firms before you can place withdrawals?
  • #20,962
  • Sep 7, 2023 1:22am Sep 7, 2023 1:22am
my problem is only one mff account, and now i can't invest one more channel... i'm so bad after 1 week, today is my first payment day total profit 16k, i am very sad i no longer have parents i need this capital..
  • #20,963
  • Sep 7, 2023 1:51am Sep 7, 2023 1:51am
Quoting navk
{quote} Received my FXIFY Deel contract and funded account
Good!
In the meantime I received mine, made a decent 4 figure profit, was paid out incl. the 125% fee refund, money arrived to my bank account, signed up for another 2 accounts and burnt the funded
Crazy times...
Money is made by sitting, not trading
  • #20,964
  • Sep 7, 2023 1:54am Sep 7, 2023 1:54am
Quoting kenny4real
{quote} Nice but I don't understand. You mean you placed a withdrawal after making $13? I thought you have to make 5-10% profits on prop firms before you can place withdrawals?
No, with FXIFY you can request payout immediately even with $1 profit. You secure your 125% fee refund by doing it
Money is made by sitting, not trading
  • #20,965
  • Sep 7, 2023 1:57am Sep 7, 2023 1:57am
Quoting navk
{quote} ok. Mine is 100k account. I just made 13 $ ..first day. This is needed for on - demand withdrawal after 24 hrs from placing first trade. The profit share + Fee + 25 %
So you have to place trade same day of receiving acc to qualify for this withdrawal...
Did you pay extra for the bi-weekly payout and no time limit. I read somewhere that an extra fee is required for these..
Are their spreads acceptable to have the standard account without commission, I think their comm is USD7 for the raw spreads.
  • #20,966
  • Sep 7, 2023 2:01am Sep 7, 2023 2:01am
Quoting OutThere
{quote} Good to see you say such things. If I said it, I'd get attacked.
I was just expressing the perception I got in Telegram about MFF, that's why I have doubts if they can recover.
FF (and special this topic) is not a good representation of whoever is keeping the industry alive, buying challenges one after another and losing it.

Myself, personaly, I still would trust them my money a million times more than to any kid of Funded Next or Bespoke.

I hope we all realized now that everybody is offering trading videogames. And to me MFF was one of the most competent running this videogame industry.
  • #20,967
  • Sep 7, 2023 2:04am Sep 7, 2023 2:04am
Quoting navk
{quote} Received my FXIFY Deel contract and funded account
After all how long did it take ?

I hope you manage to make a quick profit and immediately request profit+refund. Then it's a free ride.
  • #20,968
  • Sep 7, 2023 2:04am Sep 7, 2023 2:04am
Quoting Nsak3y
{quote}-I guess the question is... if given the chance, who here would trade with MFF again? Maybe more data needed?
Hmm, not sure to be fair. It's not just MFF though is it? It's all of them including FTMO.

The premise that they are proprietary trading firms looking for traders will be blown wide open when this is done. It's not really about using tech to trip up traders, real traders can adapt and work around pretty much anything anyway unless its HF front running etc.. (but... CTFC are well known to support the big boys in this).

It's really about will the US Gov support what could be in effect a Ponzi modelled business turning over hundreds of millions globally? Unless MFF can prove the majority of revenue was from traded assets and the profits paid the traders I don't know how far you can argue fees from failed entrees into the programme can justifiably cover operational costs but also cover the costs of commissions earned by successful traders?
If it is proven that without the fees from failures the pay outs from B book couldn't be covered then it would be pretty much an open and closed case of Ponzi?

We'll see how it turns out but if the prop world ends up like Binary Options traded from Cyprus, then no, I'd be out.
  • #20,969
  • Sep 7, 2023 2:06am Sep 7, 2023 2:06am
Quoting Vitore
{quote} No, with FXIFY you can request payout immediately even with $1 profit. You secure your 125% fee refund by doing it
YouDontMeanIt
  • #20,970
  • Sep 7, 2023 2:08am Sep 7, 2023 2:08am
Quoting Vitore
{quote} Good! In the meantime I received mine, made a decent 4 figure profit, was paid out incl. the 125% fee refund, money arrived to my bank account, signed up for another 2 accounts and burnt the funded Crazy times...
  • #20,971
  • Sep 7, 2023 2:09am Sep 7, 2023 2:09am
Quoting PDX
{quote} Fxify is a good prop firm, reputable. Kindly note the slippage & execution delay both terrible especially volatile times. I’ve (personally) used them before for their largest size funded account. Cheers, PDX
Slippage is much less in the raw one.
I have 2 accounts, one still in the old no commission system. That has a bit of slippage, although not much because I trade low lots up to 5, usually.
The one one with raw spreads + commission I almost don't get any slippage. Commission fx are a bit high, though (6$ per lot)
  • #20,972
  • Sep 7, 2023 2:12am Sep 7, 2023 2:12am
Quoting navk
{quote} ok. Mine is 100k account. I just made 13 $ ..first day. This is needed for on - demand withdrawal after 24 hrs from placing first trade. The profit share + Fee + 25 %
You don't need to wait 24h.
In my second account I received credentials after lunch time (london time), I made a trade, was profitable and requested the money immediatly. I had that in Deel (+refund) after a couple of hours.
  • #20,973
  • Sep 7, 2023 2:15am Sep 7, 2023 2:15am
Quoting FX-DON
If we can now move beyond MFF. This guy has $2.7M of challenges running concurrently. The stats are interesting at the 59 minutes 16 seconds mark. https://youtu.be/pZbSpXE8va8?si=0s2M7bJPHR4Qe3AO
that guy is super rich not us, he is a bitcoin millionaire at the time we don't even know what bitcoin is, he has been trading from last 12 years and at the age of 16 he was bitcoin millionaire traded like 575+ bitcoins
  • #20,974
  • Sep 7, 2023 2:15am Sep 7, 2023 2:15am
Quoting Vitore
{quote} Good! In the meantime I received mine, made a decent 4 figure profit, was paid out incl. the 125% fee refund, money arrived to my bank account, signed up for another 2 accounts and burnt the funded Crazy times...
Did you make sure of purchasing different challenge sizes ?
As far as they have written in their site we can't have, for example, 2x200K challenges at the same time. We can only buy the second if the first one gets to funded.

No wonder that the kids of Bespoke and Funded Next don't like you
  • #20,975
  • Sep 7, 2023 2:22am Sep 7, 2023 2:22am
Quoting Fagin
If it is proven that without the fees from failures the pay outs from B book couldn't be covered then it would be pretty much an open and closed case of Ponzi?
If this is proven, which to me seems the case, it just proves that this is a (sustainable) videogame business.

But I understand you point. They sell this as prop but reality is that they on failed challenges. The only thing that may not qualify as a ponzi it's the fact of charging the fee upfront and that is being enough to pay profits + operational costs that will happen, which doesn't happen in a ponzi. Anyway is a thin line.
  • #20,976
  • Sep 7, 2023 2:30am Sep 7, 2023 2:30am
I was about to pay for a challenge on MFF this Monday until I saw the news.
One thing I'm fortunate is I did not get my money trapped inside.

However now I'm unsure which reputable propr firms are available and less pricey with close to no legal/regulatory issues.

I know FTMO is available, any other suggestions?

I heard about Fxify recently as well but have not look in depth into it and recent posts mentions that the slippage is an issue with them?
Exhausted
  • #20,977
  • Sep 7, 2023 2:33am Sep 7, 2023 2:33am
Quoting Capablanca
{quote} After all how long did it take ? I hope you manage to make a quick profit and immediately request profit+refund. Then it's a free ride.
yes. I did kyc last friday after NY close.

it took full 3 days for all to complete
Intraday only.
  • #20,978
  • Sep 7, 2023 2:35am Sep 7, 2023 2:35am
Quoting Capablanca
{quote} If this is proven, which to me seems the case, it just proves that this is a (sustainable) videogame business. But I understand you point. They sell this as prop but reality is that they on failed challenges. The only thing that may not qualify as a ponzi it's the fact of charging the fee upfront and that is being enough to pay profits + operational costs that will happen, which doesn't happen in a ponzi. Anyway is a thin line.
Agree, I'm not a legal person so don't know the technicalities but I think you are right. No longer will they get away with calling themselves prop firms and touting for "traders". If I wanted I could open a can of worms here in the UK with the current firms operating (but I won't), there is clear misrepresentation of the current proposal and I haven't read through my contracts (and won't because I have better things to do) but I'm pretty sure there will be flags a good lawyer could wave around.

I do fear the "reputable" firms will get bogged down with it all and the cowboys will be free to con and rip people off as there is so much money at stake, they will always find a nefarious route and landlord to hide them.

We might be buying trading raffle tickets and run on a leaderboard with cash "prizes".

"So what do you do for a living? Me? I'm a raffle ticket trader! Oh, what joy
  • #20,979
  • Sep 7, 2023 2:39am Sep 7, 2023 2:39am
Quoting Vitore
{quote} Good! In the meantime I received mine, made a decent 4 figure profit, was paid out incl. the 125% fee refund, money arrived to my bank account, signed up for another 2 accounts and burnt the funded Crazy times...
...but you have to pass the challenge first, right?
  • #20,980
  • Sep 7, 2023 2:39am Sep 7, 2023 2:39am
Quoting Capablanca
{quote} You don't need to wait 24h. In my second account I received credentials after lunch time (london time), I made a trade, was profitable and requested the money immediatly. I had that in Deel (+refund) after a couple of hours.
Yes, I seen in the dashboard.

I submitted with drawal request.

Along with profit share they send fee + 25 % ?
Intraday only.
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