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  • #24,021
  • Oct 11, 2023 8:59am Oct 11, 2023 8:59am
Quoting Stoneyrocks
{quote} the smart thing to do is have accounts with different firms and have a trade copier trading all the accounts with the same trades let ‘s say you have the following ranking of firms ranked according to size in terms of web traffic ( best parameter I can come up with) 1. firm A with 5 million visits/month 2. firm B with 3 million visits/month 3. Firm C with 2 million visits/month if you intend to spend $1000 in fees spend 5/10 or $500 with firm A spend 3/10 or $300 with firm B Spend 2/10 or $200 with firm C try to have as much reliable firms...
That time has come and gone. The practical thing to do always, was to use profits gained via prop to fully fund your own private account.
Trade with confidence, trade without fear.
  • #24,022
  • Oct 11, 2023 9:00am Oct 11, 2023 9:00am
Quoting Capablanca
{quote} The big bets in twitter is that TFT is insolvent and will be the next one to go down. You may bookmark this post and then laugh at me in a couple of months of how much wrong was this comment.
nah I won't laugh at you even if that doesn't happen. I am only with FTMO atm. Used to have mff too but who knows if they will ever come back. For me, trading can be stressful at times. The worst thing that can happen with prop firms, is after a stressful week of trading and hard work, they send you an email and deny the payout for whatever bullshit reasons they can come up with.

There aren't many good firms left now that MFF is gone. If the web traffic is a key factor to be looked at, then True Forex Fund still seems to be a good choice but then payout can't be more than 4 figures, or even high 4 figures...5%ers has been in the market for long but they have this inconsistency rule in their T&C, so they can also kick people out whenever they please.

I guess I will just stick with FTMO for now and slowly grow my own account
memento mori
  • #24,023
  • Oct 11, 2023 9:04am Oct 11, 2023 9:04am
For those wondering why Bespoke are starting to kick everyone out? Its because they are bankrupt. The rumor mill is rife but they are done, cooked. Its been coming the last two months and the rumored reason is the guy Kaler doesnt know how to control his spending and didnt leave a reserve.

For others, if you are in MFFX, maven, GFT, treat it like its your last payout. Their reserves are low - however - behave better than Bespoke.

Bespoke will feel the wrath of the regulator/law soon.

TFT as well.
  • #24,024
  • Oct 11, 2023 9:09am Oct 11, 2023 9:09am
Quoting TrAndy1
{quote} Yeah, some prop firms do this. But I lost a lot of trust now in the prop firm space. I will definitely have a look more close on trading my own personal account. I really do not know which prop firm you can trust, if you want to have a 5-digit payout for the longer run with them, regularly speaking. Except FTMO nothing really comes here into my mind. If anyone knows such a kind trustworthy prop I am interested to listen...
Right now I'm trying out The Trading Pit

Yes they have a shitty score. They also appear to be very slow (I'm currently waiting for upgrade from level 1 to 2 and it takes several days). They also use trailing DD. Yes, trailing.

But. Their VIP plan looks reasonable assuming they would pay. And they offer futures-based plans as well so I assume they might be based on slightly different principles than most others. Let's see. So far I'm waiting for the first payout and upgrade.

EDIT:
and besides that, I'm building up my personal IC Markets account recklessly now. As this business seems screwed except for a very few exceptions which I don't know who they might be. So I will focus on my personal account
Money is made by sitting, not trading
  • #24,025
  • Oct 11, 2023 9:12am Oct 11, 2023 9:12am
Quoting Takisd
For those wondering why Bespoke are starting to kick everyone out? Its because they are bankrupt. The rumor mill is rife but they are done, cooked. Its been coming the last two months and the rumored reason is the guy Kaler doesnt know how to control his spending and didnt leave a reserve. For others, if you are in MFFX, maven, GFT, treat it like its your last payout. Their reserves are low - however - behave better than Bespoke. Bespoke will feel the wrath of the regulator/law soon. TFT as well.
Angelo Caramelo dont post anything in twitter for a week, something dont smells good
  • #24,026
  • Oct 11, 2023 9:14am Oct 11, 2023 9:14am
Quoting Tovip
5%ers has been in the market for long but they have this inconsistency rule in their T&C, so they can also kick people out whenever they please.
Let me just add here something. Most of the companies have these generic rules. The point is if they enforce it a lot. For that we need to see the history of that prop in trust pilot, telegram groups, twitter, etc.
If we don't find anything unusual or lots of claims I would say the prop is good, despite having the rule.
This only works, of course, if the prop is old enough to have a decent history.
  • #24,027
  • Oct 11, 2023 9:29am Oct 11, 2023 9:29am
Quoting Capablanca
{quote} Let me just add here something. Most of the companies have these generic rules. The point is if they enforce it a lot. For that we need to see the history of that prop in trust pilot, telegram groups, twitter, etc. If we don't find anything unusual or lots of claims I would say the prop is good, despite having the rule. This only works, of course, if the prop is old enough to have a decent history.
Ya I understand. Say if I somehow am still tempted to grow my account with profit splits from additional prop firms, then I don't really have many options left. True Forex Funds and 5%ers seem to still be the ones on the top of the list, despite the fact that they each have their flaws. It's like picking the less evils ones now when it comes to prop firms.

But ya, I wouldn't recommend anyone to get challenges from prop firms now, other than ftmo, unless they are 100% ready to write off that fee in case any prop firm goes bankrupt.
memento mori
  • #24,028
  • Oct 11, 2023 9:32am Oct 11, 2023 9:32am
Quoting Takisd
For those wondering why Bespoke are starting to kick everyone out? Its because they are bankrupt. The rumor mill is rife but they are done, cooked. Its been coming the last two months and the rumored reason is the guy Kaler doesnt know how to control his spending and didnt leave a reserve. For others, if you are in MFFX, maven, GFT, treat it like its your last payout. Their reserves are low - however - behave better than Bespoke. Bespoke will feel the wrath of the regulator/law soon. TFT as well.
Bespoke is UK based tho, are you saying that soon UK regulatora will start going after firms in their vicinity like fxify acg and bespoke?
  • #24,029
  • Oct 11, 2023 9:37am Oct 11, 2023 9:37am
Quoting TrAndy1
{quote} Yeah, some prop firms do this. But I lost a lot of trust now in the prop firm space. I will definitely have a look more close on trading my own personal account. I really do not know which prop firm you can trust, if you want to have a 5-digit payout for the longer run with them, regularly speaking. Except FTMO nothing really comes here into my mind. If anyone knows such a kind trustworthy prop I am interested to listen...
Find somewhere cheap but good to live and trade your own account? You are EU, so you have many options?
  • #24,030
  • Oct 11, 2023 9:42am Oct 11, 2023 9:42am
Quoting turnip15
{quote} PLatform and Data are free ( But I am in UK and you are in Australia - so check if International account applies to you in Australia) - I use the Tradeview platform and have no probs. The other things you write about - counterparty etc- are over my head. I like the live data and direct trading with no broker taking the other side. Hope this helps https://www.tradestation.com/pricing...-requirements/ Here is the CME Trading chart simulator which might interest you ( ignore my indicators) https://www.cmegroup.com/trading_tools/simulator...
Thanks T, appreciated. Will look into it.
All the best.
  • #24,031
  • Oct 11, 2023 9:47am Oct 11, 2023 9:47am
FTMO and 5ers (fuck Gil). They are most liquid.

The other niche ones mentioned here might not handle the backlash from when TFT gets spanked.
  • #24,032
  • Oct 11, 2023 9:51am Oct 11, 2023 9:51am
Quoting Takisd
FTMO and 5ers (fuck Gil). They are most liquid. The other niche ones mentioned here might not handle the backlash from when TFT gets spanked.
Have to agree. I think FTMO and the 5%ers are the ONLY ones with a chance of survival, albeit without US customers. I'm aleady with FTMO and may join the 5%ers, just so I have an account....who knows, maybe exisiting will be allowed to continue and they will not be able to take on new customers. I have a couple of offshore brokers in that situation....stopped new US customers 3 years ago, but I'm still able to trade.
  • #24,033
  • Oct 11, 2023 9:57am Oct 11, 2023 9:57am
who knows what the future holds. I do believe someone will try to register in the US for this model. But I don't know if it will work, it might need some severe changes to work.
  • #24,034
  • Oct 11, 2023 10:19am Oct 11, 2023 10:19am
Glow node in Telegram:
Attached Image (click to enlarge)
Click to Enlarge Name: glow.PNG Size: 63 KB


I don't understand this logic (I think Alpha has something similar).

If I purchase a 200K account I can use system A.

If I purchase 2 x 100K accounts I can't use system A in both accounts, same size and risk than 200K

He says it's to manage risk. I don't get it.
  • #24,035
  • Oct 11, 2023 10:20am Oct 11, 2023 10:20am
Quoting Tobiazzek
{quote} Bespoke is UK based tho, are you saying that soon UK regulatora will start going after firms in their vicinity like fxify acg and bespoke?
Or maybe when regulators go after him they will already find a closed shop. I think Kaler case is more of a criminal case than just regulator case.
  • #24,036
  • Oct 11, 2023 10:31am Oct 11, 2023 10:31am
Quoting Vitore
{quote} Right now I'm trying out The Trading Pit Yes they have a shitty score. They also appear to be very slow (I'm currently waiting for upgrade from level 1 to 2 and it takes several days). They also use trailing DD. Yes, trailing. But. Their VIP plan looks reasonable assuming they would pay. And they offer futures-based plans as well so I assume they might be based on slightly different principles than most others. Let's see. So far I'm waiting for the first payout and upgrade. EDIT: and besides that, I'm building up my personal IC Markets account...
I suppose you have the VIP CFD program..

which broker you chose ? FXFlat or GBEbrokers ? Much difference between the 2 in terms of spread/commissions ?
  • #24,037
  • Oct 11, 2023 11:24am Oct 11, 2023 11:24am
TrAndy bespoke discussions made it onto twitter.
https://twitter.com/TraderNOK/status...05312768118994
  • #24,038
  • Oct 11, 2023 11:36am Oct 11, 2023 11:36am
Quoting Takisd
Question for all you wise folks. Would it be wise for a prop firm to disclose their social media policy (how they will use social media) and their promotion policy (how promotions are decided etc) ? Is this information of value at all or just wasted web space?
-If the company is publicly-traded, then yes. Otherwise, it depends.

Quoting Takisd
It was more of a "Don't expect our CEO to be on social media waving his dick around" and "we dont respond to social media calls for support" type of disclosure.
-In this case, yes, because it serves a valuable purpose by establishing expectations early on while keeping your customers informed.

At the end of the day, most people will buy your product or service if it is good, regardless, so I think that these questions may lean more towards branding and professionalism, which may not matter much in this space. The quality/price/reliability has always been king with remote props, I think.
  • #24,039
  • Oct 11, 2023 11:36am Oct 11, 2023 11:36am
Quoting pipmaster77
Best case.......this model continues to exist and US customers are prohibited (just like all of the brokers of the world) Worst case.....this model doesn't exist anywhere Either way, this model is done for US traders....that is 100% guarantee.
-There is the slim chance that some firms will be able to operate offshore, as we see with some brokers. I will not be holding my breath, though.
  • #24,040
  • Oct 11, 2023 11:36am Oct 11, 2023 11:36am
Quoting Cryptosurf
The practical thing to do always, was to use profits gained via prop to fully fund your own private account.
-Fully agree. These props should be treated as a tool that could wear out at any time.
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