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  • #24,241
  • Oct 17, 2023 10:59am Oct 17, 2023 10:59am
Quoting DeltaCapital
{quote} You could try AdvancedMarkets bermuda as they accept crypto and are unregulated in bermuda but regulated in FCA and ASIC
If only it were that easy:

The products and services offered by Advanced Markets (Bermuda) Ltd are not intended for residents of Afghanistan, Albania, Australia, Barbados, Belarus, Bermuda, Burkina Faso, Burundi, Canada, Cayman Islands, Dem. Rep. of Congo, European Union, Gaza Strip, Gibraltar, Haiti, Iran, Jamaica, Japan, Libya, Mali, Myanmar, Mozambique, New Zealand, N. Korea, Panama, Philippines, Palestine (West Bank), Russian Federation, Singapore, Somalia, S. Sudan, Syria, Tanzania, Uganda, Ukraine, United Kingdom, United States, US Virgin Islands, Vanuatu, Venezuela, Western Sahara, Yemen, Zimbabwe, or to any person in any country or jurisdiction where the offer of such products and services would be contrary to local law or regulation. This list is not exhaustive and is subject to change. Please contact us directly for more information.
  • #24,242
  • Oct 17, 2023 11:00am Oct 17, 2023 11:00am
Quoting DeltaCapital
You could try AdvancedMarkets bermuda as they accept crypto and are unregulated in bermuda but regulated in FCA and ASIC
-They are onboarding US citizens?
  • #24,243
  • Oct 17, 2023 11:01am Oct 17, 2023 11:01am
Trying a different strategy. With some €30k I trade on personal account it is like having a $400k funded after 80% profit split but in Euro as $40k max. drawdown on 80% is $32k ~ €30k. So now I have more risk I know. But I have withdrawn my first profit of €4k. I will do this after I have withdrawn the whole amount of €30k, thus leaving another €30k into this personal account. So after I flipped this account once it is then riskfree too. Another flipping then means I have the same exact $800k funded accounts then on my personal account with a balance of €60k then. Then I do not need any prop firm accounts as I have my own funded account built. Also riskfree as I pulled out all deposits I made before. Then again I am free to reinvest my profits after that or make a withdraw every day/week or so. Do you like this idea?
  • #24,244
  • Oct 17, 2023 11:15am Oct 17, 2023 11:15am
Of course prop firms account have less risk for those $800k funded account I would need to invest ca. €4k in fees. But then I need to make gains, which is equivalent to triple it or quadruple it at FTMO for example. So basically those €4k it is needed the middle between €12k and €16 so something at €14k. Then I have a clear tax advantage on prop firms, as here the tax rate is 50%, on personal account trading it is only 25%. So between 50% to 75% net profits in comparison I need to multiply those €14k with 1.5 to make it equivalent to personal account trading. And here it is I have €14k*1.5= €21k versus €30k on personal as risk. But usually I do not risk that much, I do not think that all €30k is needed on personal before I can flip this account once. So probably I would say I would not risk more than €15k to any point. So in the end my risk on personal is lower than on prop firm with all features included. Of course if you see this just naked without all the math it is still €4k risk versus €30k risk. This will last until I have withdrawn all my deposits for €30k. Then the personal account is again also totally risk free for me. So what are your thoughts here?
  • #24,245
  • Oct 17, 2023 11:16am Oct 17, 2023 11:16am
Quoting pipmaster77
{quote} If only it were that easy: The products and services offered by Advanced Markets (Bermuda) Ltd are not intended for residents of Afghanistan, Albania, Australia, Barbados, Belarus, Bermuda, Burkina Faso, Burundi, Canada, Cayman Islands, Dem. Rep. of Congo, European Union, Gaza Strip, Gibraltar, Haiti, Iran, Jamaica, Japan, Libya, Mali, Myanmar, Mozambique, New Zealand, N. Korea, Panama, Philippines, Palestine (West Bank), Russian Federation, Singapore, Somalia, S. Sudan, Syria, Tanzania, Uganda, Ukraine, United Kingdom, United States, US...
Its not intented but they onboard, i am from portugal and it says there not intented to european union but i asked support and they said they onboard portuguese traders, bermuda dont need license to operate forex broker so they are unregulated but they accept portuguese clients, US clients i dont have sure but i think yes
  • #24,246
  • Oct 17, 2023 11:17am Oct 17, 2023 11:17am
Quoting Nsak3y
{quote}-They are onboarding US citizens?
i think yes they unregulated in bermuda
  • #24,247
  • Oct 17, 2023 11:22am Oct 17, 2023 11:22am
Quoting TrAndy1
Of course prop firms account have less risk for those $800k funded account I would need to invest ca. €4k in fees. But then I need to make gains, which is equivalent to triple it or quadruple it at FTMO for example. So basically those €4k it is needed the middle between €12k and €16 so something at €14k. Then I have a clear tax advantage on prop firms, as here the tax rate is 50%, on personal account trading it is only 25%. So between 50% to 75% net profits in comparison I need to multiply those €14k with 1.5 to make it equivalent to personal account...
Bro buy full ftmo account, is only 2160 euros for 400k funding, and you would have same drawdown, even if CFTC blocks props from accepting new US clients, the current will still be able to trade in ftmo or other props outside US like in some forex brokers, maybe this will take weeks, months or years, for now you have money to buy 400k ftmo so take this risk while you can buy ftmo challenges
This is just my advice on what i would do, trading prop firms for me is better than having own personal accounts, i risk only 0.25% or 0.5% per trade in my personal accounts and 30:1 leverage for me is enough, but this dont beat risk free trading prop firms after passing challenges of course
And for what i see you are profitable so why not take this risk in prop firms
  • #24,248
  • Oct 17, 2023 11:29am Oct 17, 2023 11:29am
Quoting DeltaCapital
{quote} i think yes they unregulated in bermuda
no USA, just tried.
  • #24,249
  • Oct 17, 2023 11:34am Oct 17, 2023 11:34am
Quoting DeltaCapital
{quote} Bro buy full ftmo account, is only 2160 euros for 400k funding, and you would have same drawdown, even if CFTC blocks props from accepting new US clients, the current will still be able to trade in ftmo or other props outside US like in some forex brokers, maybe this will take weeks, months or years, for now you have money to buy 400k ftmo so take this risk while you can buy ftmo challenges This is just my advice on what i would do, trading prop firms for me is better than having own personal accounts, i risk only 0.25% or 0.5% per trade...
There is also a risk in prop firms, for example in those payouts and all the rules. Of course FTMO is best here but they are also the most expensive ones. I need to do +15% in profits at a -10% max. DD before I can trade that funded account. That would take me around 2 full months of trading without any income. And then again I need to do profits to get my refund and my profit split. So this will take around 3 months probably, depending on trading conditions and what the market gives. So 2.7^(1.5) is 4, so basically those €2160 for buying a $400k account at FTMO is worth €8640 before I get that funded account. And again there is clear tax advantage here in my country I am living, so this again needs to be multiplied by 1.5 to make it comparable to personal account trading. So then I have the equivalent of ~€13k on the prop firm account from FTMO versus my €30k on my personal account which was meant to get those $800k funded account again. So basically I need to compare €13k (FTMO) with €15k (Personal account at IC Markets). So with all the rules and what can go wrong and better trading conditions on IC Markets, I see no advantage at all trading a $400k FTMO account versus trading my own personal account. The equivalent is the same, so in case of this, I would prefer just trading my personal account here, as I have more freedom and no rules at all. For me, as analytical guy too, I cannot just compare €2.2k (FTMO fees) versus €15k (personal deposit) because this is not true with all the math behind. If one is not doing the math he is comparing Apples with Oranges which is totally misleading. So I am doing the math and I get the result, FTMO is too expensive for fees to make it preferable versus own personal account trading. Everyone needs to do his own calculation especially the taxes too, to make it fully comparable on its own. But it is worth to do so, because you get realistic results. You compare the difficulty too to master a 2-step challenge before you get those funded accounts. Everyone needs to take this into consideration also first before blindly buying challenges for the sake of just buying them. It is not that in reality, just said. Just do not forget I pulled out €4k real money as withdraw on day 2 of my trading on my personal account today. So the new total risk for me is €26k after 2 trading days. Probably I will let you know how this is going and how this works for me.
  • #24,250
  • Oct 17, 2023 11:36am Oct 17, 2023 11:36am
Quoting pipmaster77
{quote} no USA, just tried.
damn even them not taking the risk
  • #24,251
  • Oct 17, 2023 11:48am Oct 17, 2023 11:48am
The problem I have is that I have no real choice anymore. MFF was the best one. After that I thought I have found a similar cheap firm named Bespoke. But the CEO learnt me another lesson, that they are just after the fees and kicking out profitable traders, so they can do all the fine b-booking for them. So I have now 5ers, ACG and maybe FXIFY, all similar score around 4, which is only slightly better than FTMO score of around 3.5. So basically I have done the math above for FTMO, I just do not get that much better offers to start another challenges on other props. If I really compare to trading on my own personal account. And there is always the possibility of issues especially if the prop firm is not FTMO. It is not worth for me in the end to participate anymore. I will do it again if MFF is back, but noone knows if and when.
  • #24,252
  • Oct 17, 2023 11:52am Oct 17, 2023 11:52am
Quoting TrAndy1
The problem I have is that I have no real choice anymore. MFF was the best one. After that I thought I have found a similar cheap firm named Bespoke. But the CEO learnt me another lesson, that they are just after the fees and kicking out profitable traders, so they can do all the fine b-booking for them. So I have now 5ers, ACG and maybe FXIFY, all similar score around 4, which is only slightly better than FTMO score of around 3.5. So basically I have done the math above for FTMO, I just do not get that much better offers to start another challenges...
The propose of props is to much as much as you can to fund your personal account, if you have 30k to invest in personal account than you good and continue to milk the rest of props firms
  • #24,253
  • Oct 17, 2023 11:53am Oct 17, 2023 11:53am
hi i am emily,i would like if someone could help me to choose propfirm.
I have had some experience but it has been bad and with brightfunded,it is a very bad platform and I lost my money.
I would like if someone could give me some advice
  • #24,254
  • Oct 17, 2023 12:12pm Oct 17, 2023 12:12pm
Quoting TrAndy1
{quote} There is also a risk in prop firms, for example in those payouts and all the rules. Of course FTMO is best here but they are also the most expensive ones. I need to do +15% in profits at a -10% max. DD before I can trade that funded account. That would take me around 2 full months of trading without any income. And then again I need to do profits to get my refund and my profit split. So this will take around 3 months probably, depending on trading conditions and what the market gives. So 2.7^(1.5) is 4, so basically those €2160 for buying...
If Prop firm Industry is messed up, people will ultimately goto forex brokers to open a personal account to trade.

In the current situation, very few good prop firms with reasonable terms and conditions available.

Bespoke , funded next . FXIFY all crap now.

Only FTMO, and 5ers seem good.

FTMO is expensive
Intraday only.
  • #24,255
  • Oct 17, 2023 12:22pm Oct 17, 2023 12:22pm
Quoting navk
{quote} If Prop firm Industry is messed up, people will ultimately goto forex brokers to open a personal account to trade. In the current situation, very few good prop firms with reasonable terms and conditions available. Bespoke , funded next . FXIFY all crap now. Only FTMO, and 5ers seem good. FTMO is expensive
in 2.5- 3 years, we have basically come full circle....exactly where we were.
  • #24,256
  • Oct 17, 2023 12:31pm Oct 17, 2023 12:31pm
Quoting Ambrwn
hi i am emily,i would like if someone could help me to choose propfirm. I have had some experience but it has been bad and with brightfunded,it is a very bad platform and I lost my money. I would like if someone could give me some advice
Hi, just seen you are from France, which has the same high taxes on prop firms gains. So basically you have no advantage anymore with prop firms doing the challenges if you compare them how difficult it is to get a payout in the end. FTMO is not worth the cost as you are from France (in France living and having the major residence, right ?). 5ers is not much better. All the other ones are very questionable. The only real good option is or was MFF. If they come back you can try them. But I would not do anything else, than trading just as small as possible on your own personal forex broker account and then withdraw regularly money until you have withdrawn your whole deposit. Then you are fully risk free.
  • #24,257
  • Oct 17, 2023 12:40pm Oct 17, 2023 12:40pm
From what I know on the tax side I can say for sure that you should not buy anymore any challenges if you are from Germany, France, UK, Italy, Netherlands, Belgium and whole Scandinavia. If you already have funded accounts keep trading them of course. But buying new challenges on prop firms does not make any sense anymore than trading your own personal account. You just do the same like me, withdraw regularly until you have withdrawn the whole deposit once. Then everyone is totally free what to do with the left deposit (again withdrawing after new made gains or scaling from profits as example). If anyone is telling me his tax situation from his country I could say you how much you can or cannot still benefit from prop firms. But then you need to tell me your tax rates on certain income levels in comparison between prop firm gains and personal account trading gains. Let me know...
  • #24,258
  • Oct 17, 2023 1:29pm Oct 17, 2023 1:29pm
Quoting TrAndy1
From what I know on the tax side I can say for sure that you should not buy anymore any challenges if you are from Germany, France, UK, Italy, Netherlands, Belgium and whole Scandinavia. If you already have funded accounts keep trading them of course. But buying new challenges on prop firms does not make any sense anymore than trading your own personal account. You just do the same like me, withdraw regularly until you have withdrawn the whole deposit once. Then everyone is totally free what to do with the left deposit (again withdrawing after new...
Where i live, personal capital gains on forex is 19,6%, for contractor like propfirms is like till 1000 eur dont pay tax only social security but has this gets high more tax will apply but then is advisable to create a company if make to much money, and for company is 8,75% first 50k euro taxable profit for companies, how is it in your country Trandy1 are taxes high there?
  • #24,259
  • Oct 17, 2023 1:31pm Oct 17, 2023 1:31pm
And just discovered is cheaper to withdraw in crypto USDT and convert in binance to euros, binance gives me a better rate then revolut or deel was giving
  • #24,260
  • Oct 17, 2023 1:44pm Oct 17, 2023 1:44pm
Quoting pipmaster77
no USA, just tried.
-Almost got my hopes up. But I know better...

Thanks for checking.
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