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  • #21,021
  • Sep 7, 2023 6:09am Sep 7, 2023 6:09am
Quoting Takisd
{quote} Most elements are public record, but some things this nok guy is saying is not. He also is selectively leaking to build a narrative it appears after watching his time line.
Apparently any person can buy them for 15 bucks. I don't know how does this pacer is or how does that work. 15 USD is nothing. I would buy an access to know more.

"Complaint is on CFTC website [I posted a very detailed thread when it was released]. Evidence is available on PACER [You need to pay. For that you need an account. Account takes time]."

"It wont cost much. Around 15 USD for all documents. But account may take a few days to a week or so. Depends on where you are. But dont buy. I may post remaining over the next few days [posted a few already]"
  • #21,022
  • Sep 7, 2023 6:40am Sep 7, 2023 6:40am
Hello everyone, does anyone know if Maven prop firm allow hedging practices.
Data + Stat + Risk/Emotions Management
  • #21,023
  • Sep 7, 2023 6:46am Sep 7, 2023 6:46am
Quoting Capablanca
{quote} Apparently any person can buy them for 15 bucks. I don't know how does this pacer is or how does that work. 15 USD is nothing. I would buy an access to know more. "Complaint is on CFTC website [I posted a very detailed thread when it was released]. Evidence is available on PACER [You need to pay. For that you need an account. Account takes time]." "It wont cost much. Around 15 USD for all documents. But account may take a few days to a week or so. Depends on where you are. But dont buy. I may post remaining over the next few days [posted...
Yes, im not referring to his documents, i am referring to what he is saying. I have the documents also now from a lawyer friend who has pacer. There isn't much else to look at, a few things that dont make sense and a few things that further prove that this is a mess and not as clear as some people want it to be.

I can see he is referring to things about deel that aren't public knowledge, I can see him referring to discussions with prop owners and various other things that suggest more to his involvement. He also is selective releasing, there is more in there that basically makes this more silly than scary. But I will let him release and lets see how he paints the picture.
  • #21,024
  • Sep 7, 2023 6:58am Sep 7, 2023 6:58am
Quoting Georginson
Hello everyone, does anyone know if Maven prop firm allow hedging practices.

checkout 5ers bro
MY OPINION NOT FINANCIAL ADVISE
  • #21,025
  • Sep 7, 2023 7:53am Sep 7, 2023 7:53am
I saw this in telegram. I could not find the original source but it seems coming from Dylan (e8)

Quote
We have decided to stop offering basic E8 Accounts to certain countries in general because this product was used in malicious manners that weren't used in accordance with E8 Values. The majority of customers from these countries traded in an account-rolling way, hedging between accounts and finding ways to gamify the system. E8 Track is built to be the product that proves the consistency of the trader and is less likely to be abused in the manner that E8 Account used to be.
We also believe that this is a more reasonable solution than banning all...

It seems they stopped the challenge model for some countries.
  • #21,026
  • Sep 7, 2023 8:00am Sep 7, 2023 8:00am
Quoting 1odi
{quote} i should ve wrote unless people WOKE up
really, though they need to un-WOKE up.
  • #21,027
  • Sep 7, 2023 8:20am Sep 7, 2023 8:20am
Quoting 1odi
{quote} Cos they know they can t come out and tell people outright to not sign up or use some services just cos they say so, so they go after the payment providers i guess. But if u think things thro, Deel is just another contracter, so unless they did something shady, the regulators have no ground . Moreover, who is spreading this info? it seems to me that the CFTC is more interested to win in the court of public opinion rather then the courthouse/
Same shit they did with offshore brokers. Couldn't stop the brokers. So, first they hit visa/mc, then paypal, then netteller, then skrill, etc.....until you are only left with crypto in/out. Anyone with any amount of intelligence sees exactly why it is being done, just like Dodd Frank, I'll repost for anyone who missed it, as this hits it right on the head:

the fact of the matter is the US does not want CFD trading because they don’t want to provide the opportunity for people to make money with product that if utilized professionally can cause exponential growth of wealth. you have an amazing institutional broker like IC markets and you’re telling me the US won’t allow you to use it? i’m sure there’s a work around with having dual citizenship and being in seychelles, turks, cayman, etc. but now you’re incentivized to go with an unregulated broker to get good spreads, leverage, and even be able to trade gold and indices, when IC markets provides all that and is regulated with over 30,000 5 star reviews

In other words, if this were all about "protecting" us from our OWN money, why is IC Markets off the table in the US? Anyone who can provide a good rebuttal to this, I am open minded to listen.
  • #21,028
  • Edited 8:52am Sep 7, 2023 8:42am | Edited 8:52am
Quoting pipmaster77
{quote} Same shit they did with offshore brokers. Couldn't stop the brokers. So, first they hit visa/mc, then paypal, then netteller, then skrill, etc.....until you are only left with crypto in/out. Anyone with any amount of intelligence sees exactly why it is being done, just like Dodd Frank, I'll repost for anyone who missed it, as this hits it right on the head: the fact of the matter is the US does not want CFD trading because they don’t want to provide the opportunity for people to make money with product that if utilized professionally can...
i think us government has good intentions but failing at producing desired outcome. they simply want combo of 1) everything to be safe from fraud, so they want brokers dealers with solid capital requirements, 2) they want everything be traded on public exchanges. their intention is not 'not providing you opportunity to make money'. it is what it is. consenquces of bureaucracy.
  • #21,029
  • Sep 7, 2023 8:44am Sep 7, 2023 8:44am
Quoting pipmaster77
{quote} Same shit they did with offshore brokers. Couldn't stop the brokers. So, first they hit visa/mc, then paypal, then netteller, then skrill, etc.....until you are only left with crypto in/out.
Exactly, death by a thousand cuts.
Trade with confidence, trade without fear.
  • #21,030
  • Sep 7, 2023 8:55am Sep 7, 2023 8:55am
So much conspiracy to assume here. I don't mean it in the sense that people are being conspiratorial, but peoples behavior in the public sphere (not this forum) seem to indicate that this might have been self immolation by another prop firm trying to get one prop firm gone and as a result, set itself on fire.

Conspiracies are fun, did you know the earth is flat?

Wouldn't that be interesting if it came out a prop firm started this and as a result got exposed. He who screams the loudest has the most to hide.
  • #21,031
  • Edited 10:25am Sep 7, 2023 8:56am | Edited 10:25am
Quoting solarpower
{quote} i think us government has good intentions but failing at producing desired outcome. they simply want combo of 1) everything to be safe from fraud, so they want brokers dealers with solid capital requirements, 2) they want everything be traded on public exchanges. their intention is not 'not providing you opportunity to make money'. it is what it is. consenquces of bureaucracy. opinion of young man from central asia.
57 years living in the USA has seen a lot of evidence to the contrary. The saying "The road to hell is paved with good intentions" is applicable here. Good intentions, followed by "mission creep" and powers expanded far beyond original intentions. Patriot Act is perfect example.
Trade with confidence, trade without fear.
  • #21,032
  • Sep 7, 2023 8:57am Sep 7, 2023 8:57am
Those of us that have participated for years on another site's offshore broker thread know exactly where this is likely headed with the CFTC. Business located outside the US does not mean a damn thing to the US gov... just ask Bitmex, Bitfinex & Binance. If they can't get you to comply, they will just attack your ability to transact in USD.
  • #21,033
  • Sep 7, 2023 9:13am Sep 7, 2023 9:13am
The guy from the tweets is reposting part of that Angelo's interview where he stated, in other words, that they work basically the same thing (that this is mostly a videogame with parameters than need to be "adjusted"):
https://twitter.com/TraderNOK/status...87389993332998
  • #21,034
  • Sep 7, 2023 9:18am Sep 7, 2023 9:18am
Quoting Capablanca
The guy from the tweets is reposting part of that Angelo's interview where he stated, in other words, that they work basically the same thing (that this is mostly a videogame with parameters than need to be "adjusted"): https://twitter.com/TraderNOK/status...87389993332998
Literally everyone is because metatrader doesnt work that way. You can just get robbed if you dont do it. lol
  • #21,035
  • Sep 7, 2023 9:25am Sep 7, 2023 9:25am
Here is a question that i have. People send in hundreds of thousands of copies of valid IDs along with proof of address to these prop shops as they claim to need to abide by KYC rules. By law, the following businesses need to comply.

  1. Financial institutions.
  2. Banks.
  3. Fintech companies.
  4. Credit unions.
  5. Gambling entities and casinos.
  6. Wallet providers and cryptocurrency exchanges.
  7. Wealth management firms and broker-dealers.
  8. Private lenders and lending platforms.

Lets take FTMO for example. In the Czech trade registry their purpose of business is filed as: production, trade and services not listed in annexes 1 of 3 of the commercial law. So in which one of the above categories would these prop shops fall in? Which of these shops out there have a company registered with an explicit business purpose that requires KYC? Can anyone help me out on this, i must be missing something.

  • #21,036
  • Sep 7, 2023 9:30am Sep 7, 2023 9:30am
Quoting SirMcPip
Here is a question that i have. People send in hundreds of thousands of copies of valid IDs along with proof of address to these prop shops as they claim to need to abide by KYC rules. By law, the following businesses need to comply. Financial institutions. Banks. Fintech companies. Credit unions. Gambling entities and casinos. Wallet providers and cryptocurrency exchanges. Wealth management firms and broker-dealers. Private lenders and lending platforms. Lets take FTMO for example. In the Czech trade registry their purpose of business is filed...
All of them. They send out going monies without valid invoices. You can't just randomly start firing out money to people without knowing who you are firing it to incase there is legal liability.
  • #21,037
  • Sep 7, 2023 10:01am Sep 7, 2023 10:01am
Quoting Takisd
{quote} All of them. They send out going monies without valid invoices. You can't just randomly start firing out money to people without knowing who you are firing it to incase there is legal liability.
1. From the information i have, people have to write invoices. I mean i dont know exactly, but from a business perspective alone, it would make more than sense.
2. Which law are you referring to exactly? From your reasoning, every business would fall under KYC.
3. Does Deel maybe require it?

Its really a little troubling when putting it in context with CFTC charges against MFF. If there is no real requirement for KYC, then this could be a multi million dollar business all by itself.
  • #21,038
  • Sep 7, 2023 10:02am Sep 7, 2023 10:02am
I do find it funny peoples shock and aw at the size MFF Was.
  • #21,039
  • Sep 7, 2023 10:51am Sep 7, 2023 10:51am
Quoting Takisd
Wouldn't that be interesting if it came out a prop firm started this and as a result got exposed. He who screams the loudest has the most to hide.
Could very well be the case.
Trade with confidence, trade without fear.
  • #21,040
  • Sep 7, 2023 11:30am Sep 7, 2023 11:30am
Anyone in a jurisdiction who can open a corporate account with ICMarkets, Tickmill, Pepperstone...........I'll fund it and trade it, you keep 20%. I'll begin interviews this coming week.
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