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  • #24,681
  • Oct 26, 2023 1:18am Oct 26, 2023 1:18am
Quoting JustPipMe
{quote} Am I dumb for thinking FTMO is a safe bet near term? Worth the risk/reward anyway?
FTMO is safe. There is no near regulation coming for FTMO. Actually the safest option to join any prop right now.
  • #24,682
  • Oct 26, 2023 1:29am Oct 26, 2023 1:29am
Quoting TrAndy1
{quote} FTMO is safe. There is no near regulation coming for FTMO. Actually the safest option to join any prop right now.
Sorry Andy but you have no credibility to advise who is safe or not after pumping Bespoke shamelessly.
  • #24,683
  • Oct 26, 2023 1:31am Oct 26, 2023 1:31am
Quoting JustPipMe
{quote} Am I dumb for thinking FTMO is a safe bet near term? Worth the risk/reward anyway?
If you want to hit and run, maybe. Long term future, no.
  • #24,684
  • Oct 26, 2023 1:39am Oct 26, 2023 1:39am
Quoting Fagin
{quote} Sorry Andy but you have no credibility to advise who is safe or not after pumping Bespoke shamelessly.
If you do not admit errors in trading too you are at the wrong place and you should not trade at all. There is no 100% winning strategy. Same is bets on props. I was wrong with my initial impression at Bespoke. But it is not that big error because I got 50k from them. So all in all not a bad business for me. But of course it could be better when I could keep my funded accounts and make 150k in payouts. I hope you were just joking what you said to me.
  • #24,685
  • Oct 26, 2023 1:41am Oct 26, 2023 1:41am
Quoting Fagin
{quote} If you want to hit and run, maybe. Long term future, no.
You are dead wrong. Such prop firms existed since 1998 at least. This industry is over 25 years old. First there were Future props with additional capital especially because for the high margins the exchange demanded. So there was a need. Nowadays on FX prop since 2012 it is only for the additional capital or max. DD you get for the fee. This industry will survive longer than you think for sure. Just think on FX broker industry. In US it is nearly dead but still very alive across the globe. That's it.
  • #24,686
  • Oct 26, 2023 1:53am Oct 26, 2023 1:53am
Quoting TrAndy1
{quote} You are dead wrong. Such prop firms existed since 1998 at least. This industry is over 25 years old. First there were Future props with additional capital especially because for the high margins the exchange demanded. So there was a need. Nowadays on FX prop since 2012 it is only for the additional capital or max. DD you get for the fee. This industry will survive longer than you think for sure. Just think on FX broker industry. In US it is nearly dead but still very alive across the globe. That's it.
To say you are a professional hedge fund trader you come across as either naïve or delusional, I'm yet to decide. FTMO isn't a legitimate proprietary trading company, show me the market liquidity....
  • #24,687
  • Oct 26, 2023 1:53am Oct 26, 2023 1:53am
Quoting cuchuflito
After a year of having an account with a prop. I still cannot understand their business model. Everywhere you see the usual complaint, that when payments get big, people are either kicked out, delayed, or hassled. If you look at the negative comments in Trustpilot, of the big props, they are scary. We all thought in the beginning, that the "prop idea" was genius, give people money to trade, copy the trades of the best traders, and charge a fee to cover your risk from the losers. I figured: this was a win-win situation. Now I...
It seems it’s not only the prop firms, but that essentially everyone want a piece in the pyramide scheme of finance.

They cannot go on the real market cause it’s mostly run by the U.S, the regulatory authorities want 20 million to even sign up as a broker. Someone earning commission on clients, have 1/2 of that commission eaten by liquidity provider.
They got metatrader license, server costs, office costs and also the financial risk with every of your trade.

I don’t think they have an A-book or connectivity to interbank market their trade size is too small? Even if they have a liquidity provider or a pool of brokers, it doesn’t make them neutral. Most likely they just got pile of money on a table, much like a carddealer they take money from all playing, then distribute the money to those who win and pocket a few dollar for every time they deal.
If someone at the table is a bit too good at playing cards and take too much of the pile, it might discourage other players as the dealer cannot hand out as much winnings to those who occasionally win and play for fun. The big winner has to be eliminated, and for good reason.
To keep the game going everyone has to feel like they have a chance of becoming a winner and a professional.
So they have to have a few people ’who made it’ to keep up the illusion, they are the idols of everyone else. They keep posting big payout numbers, pictures of cars and women. But it could be like in some Lottery, where the lottery winner is actually a winner of the lottery company. All big lottery winners usually keep anonymous.

But hey it could be good too, or else the regulatory authorities wouldn’t be concerned. It takes away some of the money flow from their own casino. The bigger market is no better, just more sophisticated. It involves all the promises and idols found in the prop firm.
You get the blame here to by politicians and news readers blaming you for consuming too much and driving inflation, and therefore they have to raise prices(which brings in more tax and revenue) so you will have less chances of ever making it here too, unless your salary goes up by the same rate as inflation, plus the fallout from the latest 2 decades.
Separate financial system can actually be good considering the alternative of working off 33 trillion of U.S debt.

So either way you look you have a scammer of some sort, who are offering an illusion made to keep you in the game.
You have an IQ lower than 90 if you interact with this user.
  • #24,688
  • Oct 26, 2023 2:25am Oct 26, 2023 2:25am
We all know more at Monday next week at 6th of November when the MFF vs. CFTC hearing is. It depends much if MFF can continue in a way or is completely off table.
  • #24,689
  • Edited 2:58am Oct 26, 2023 2:28am | Edited 2:58am
Quoting rizla101
{quote} Think $1000 is minimum withdraw. And you only get fee refund on the 5th withdraw i believe. Not ideal conditions but still, the dropping of all those other rules makes them bit more attractive.
Could not find anything about that (the refund) in the FAQs site. It seems a bit hidden rule (knowing that the standard of the industry is refund with 1st payout).
Searched for refund word in T&C and there is nothing as well. A bit shady, it seems.

My bad. It's well stated in FAQs!
  • #24,690
  • Oct 26, 2023 2:42am Oct 26, 2023 2:42am
Quoting Capablanca
{quote} Could not find anything about that (the refund) in the FAQs site. It seems a bit hidden rule (knowing that the standard of the industry is refund with 1st payout). Searched for refund word in T&C and there is nothing as well. A bit shady, it seems.
It is strait away mentioned on their website on FAQ. See below. Can confirm the refund is with the 4th payout.
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  • #24,691
  • Oct 26, 2023 2:43am Oct 26, 2023 2:43am
Quoting Ferna
{quote} It seems it’s not only the prop firms, but that essentially everyone want a piece in the pyramide scheme of finance. They cannot go on the real market cause it’s mostly run by the U.S, the regulatory authorities want 20 million to even sign up as a broker. Someone earning commission on clients, have 1/2 of that commission eaten by liquidity provider. They got metatrader license, server costs, office costs and also the financial risk with every of your trade. I don’t think they have an A-book or connectivity to interbank market their trade...
Yes, if they use A book , most probably they only use it for risk mitigation
  • #24,692
  • Oct 26, 2023 2:57am Oct 26, 2023 2:57am
Quoting TrAndy1
We all know more at Monday next week at 6th of November when the MFF vs. CFTC hearing is. It depends much if MFF can continue in a way or is completely off table.
Tim isoara posted on the prior page that Kazmi & his legal team requested for the upcoming MFF court date to be delayed AGAIN! So it's been moved all the way to Jan 26th SMH.
  • #24,693
  • Oct 26, 2023 3:01am Oct 26, 2023 3:01am
Quoting TrAndy1
{quote} It is strait away mentioned on their website on FAQ. See below. Can confirm the refund is with the 4th payout. {image}
Thanks Andy. I didn't see that one ! Already edited my post.

For the IP thing that resembles Funded Next with proof of travel and all that stuff.

Btw, you asked if 5ers had bank wire but they only have Wise and crypto, at least in payout request screen. Not sure if they can organize anything different if requested.
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  • #24,694
  • Oct 26, 2023 3:01am Oct 26, 2023 3:01am
Quoting CableJ
{quote} Tim isoara posted on the prior page that Kazmi & his legal team requested for the upcoming MFF court date to be delayed AGAIN! So it's been moved all the way to Jan 26th SMH.
But that's Canada. The US one stands for tomorrow, I think. Anyway, not sure if anything will happen tomorrow.
  • #24,695
  • Oct 26, 2023 3:07am Oct 26, 2023 3:07am
Quoting Capablanca
{quote} But that's Canada. The US one stands for tomorrow, I think. Anyway, not sure if anything will happen tomorrow.
ahh ok... if the CFTC freeze on their assets & website are not extended by the court, it will be interesting to see what happens next.
  • #24,696
  • Oct 26, 2023 3:11am Oct 26, 2023 3:11am
Quoting Capablanca
{quote} Thanks Andy. I didn't see that one ! Already edited my post. For the IP thing that resembles Funded Next with proof of travel and all that stuff. Btw, you asked if 5ers had bank wire but they only have Wise and crypto, at least in payout request screen. Not sure if they can organize anything different if requested. {image}
So you need to have your own WISE account , your normal bank account to receive is not good enough ?
  • #24,697
  • Oct 26, 2023 3:49am Oct 26, 2023 3:49am
Quoting Stoneyrocks
{quote} Yes, if they use A book , most probably they only use it for risk mitigation
But what is A-book? It seems to be a floating definition.
Is it a pool of markets makers? Is it 1-2 banks? Or is it the actual interbank market?
You have an IQ lower than 90 if you interact with this user.
  • #24,698
  • Oct 26, 2023 3:51am Oct 26, 2023 3:51am
Quoting Ferna
{quote} But what is A-book? It seems to be a floating definition. Is it a pool of markets makers? Is it 1-2 banks? Or is it the actual interbank market?
On FX A-booking of retail brokers or props it is just mitigating of bigger b-booking book, that is all. It is still b-booking just at greater scale (more parties are involved).
  • #24,699
  • Oct 26, 2023 3:56am Oct 26, 2023 3:56am
Quoting Stoneyrocks
{quote} So you need to have your own WISE account , your normal bank account to receive is not good enough ?
I don't know, I've been always receiving in crypto
  • #24,700
  • Oct 26, 2023 3:58am Oct 26, 2023 3:58am
Quoting Fagin
{quote} To say you are a professional hedge fund trader you come across as either naïve or delusional, I'm yet to decide. FTMO isn't a legitimate proprietary trading company, show me the market liquidity....
You seem to be totally confused about what we discuss here and what makes a retail prop firm legitimate
Money is made by sitting, not trading
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