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  • #27,401
  • Dec 19, 2023 12:47pm Dec 19, 2023 12:47pm
There are some rumors that fundingpips has had a large amount of money frozen by stripe. Could affect withdrawals. Its rumor, i don't have proof but lots of people talking about it .
  • #27,402
  • Dec 19, 2023 2:05pm Dec 19, 2023 2:05pm
Quoting Takisd
There are some rumors that fundingpips has had a large amount of money frozen by stripe. Could affect withdrawals. Its rumor, i don't have proof but lots of people talking about it .
A fact and it happened already about a month ago. Funds frozen should be about 1M according to them.
  • #27,403
  • Dec 19, 2023 2:28pm Dec 19, 2023 2:28pm
Quoting TraderTero
{quote} A fact and it happened already about a month ago. Funds frozen should be about 1M according to them.
I heard 4+
  • #27,404
  • Dec 19, 2023 2:49pm Dec 19, 2023 2:49pm
Quoting Takisd
There are some rumors that fundingpips has had a large amount of money frozen by stripe. Could affect withdrawals. Its rumor, i don't have proof but lots of people talking about it .
Any particular reason? Regulation? Scared of the CFTC? Or just randomly freezing their funds? Man this space has become a cesspool since the CFTC screwed MFF and all of us as well.
  • #27,405
  • Dec 19, 2023 3:05pm Dec 19, 2023 3:05pm
Quoting pipmaster77
{quote} Any particular reason? Regulation? Scared of the CFTC? Or just randomly freezing their funds? Man this space has become a cesspool since the CFTC screwed MFF and all of us as well.
Stripe has a stupid sign on policy where they dont review you just let you go use them. Then when they find out what you do they freeze your account.

Stripe after MFF don't like props, no prop should be using them. Everyone knows it, why they were using them I do not know.
  • #27,406
  • Dec 20, 2023 7:04am Dec 20, 2023 7:04am
Businesses who use only online payment processors and/or crypto are people with whom banks and credit-card companies refuse to do business. Obviously.

We each decide for ourselves whether we really want to do business with people with whom banks and credit-card companies refuse to do business.
  • #27,407
  • Dec 20, 2023 7:43am Dec 20, 2023 7:43am
Quoting KarlKraus
Businesses who use only online payment processors and/or crypto are people with whom banks and credit-card companies refuse to do business. Obviously. We each decide for ourselves whether we really want to do business with people with whom banks and credit-card companies refuse to do business.
and once again....this all ties back to OVER-REACHING regulation. My offshore broker CANNOT use bank wire/credit card, because the US says they cannot. Hell, even USA brokers cannot accept credit cards for deposit It is to "protect" us. However, I can use my credit card to buy lottery tickets, bet on any online sportsbook or pull money out in Vegas........hmmmm, protecting me? It all ties back to the same thing.
  • #27,408
  • Dec 20, 2023 7:46am Dec 20, 2023 7:46am
Quoting KarlKraus
Businesses who use only online payment processors and/or crypto are people with whom banks and credit-card companies refuse to do business. Obviously. We each decide for ourselves whether we really want to do business with people with whom banks and credit-card companies refuse to do business.
-Not sure about your country, but this is not the case in the Divided States of America. And for the cases that it is true, it oftentimes is a result of over-regulation. Either the existing regulatory requirements are too burdensome and costly for maintaining compliance that businesses simply opt-out of providing services to certain sectors, or, regulators see that a particular business isn't honoring the pay-to-play system, so they put pressure on various payment processors/gateways/transfer systems etc. (and now, even trading platforms, apparently) to stop doing business with them, or else face the same legal scrutiny etc..

Just using MFF as an example. CFTC opened a case against them. Nothing has been proven yet, but they still were able to put pressure on Deel to stop doing business with all related businesses. Why? Because if they didn't, Deel could be charged with aiding/accessory or a myriad of other things, should MFF be found guilty. Such an investigation could also expose their own business in ways that aren't even related to the case, as well as tarnish their reputation. If that weren't enough, if Deel ever had to go to court as a result of the MFF case, or, some unexpected discovery during the investigative process, Deel could potentially have a mountain of legal expenses to contend with.

To be clear, just because a business refuses to pay-to-play, does not mean that they are not legitimate. The rules/laws set forth by various regulatory groups often create an undue burden on businesses, making it impossible to stay operational. It does not mean that said businesses are doing anything nefarious.
  • #27,409
  • Dec 20, 2023 7:54am Dec 20, 2023 7:54am
Quoting Nsak3y
{quote}-Not sure about your country, but this is not the case in the Divided States of America. And for the cases that it is true, it oftentimes is a result of over-regulation. Either the existing regulatory requirements are too burdensome and costly for maintaining compliance that businesses simply opt-out of providing services to certain sectors, or, regulators see that a particular business isn't honoring the pay-to-play system, so they put pressure on various payment processors/gateways/transfer systems etc. to stop doing business with them,...
Exactly, I have been using offshore brokers since 2014, never an issue getting paid. I also see ZERO of the tricks of the "regulated" brokers in the US....no frozen platforms, hanging prices, random spikes........none of it. I trust them 1000 times more than any USA broker and THEY ARE NOT REGULATED.
Not to mention, 80% of my capital sits in an FDIC insured bank, 10% sits in an FDIC insured crypto exchange (for emergency margin), while only 10% of my actual trading capital is at the broker, simply because I only need 5-10% to trade THE SAME EXACT position as I could with a US broker.........
I must be the moron in the room.
  • #27,410
  • Dec 20, 2023 8:10am Dec 20, 2023 8:10am
Which FX prop beside FTMO allows balance based daily drawdown only and allows stacking or multiple orders in same direction, AND also has a good payout history ?
  • #27,411
  • Dec 20, 2023 8:16am Dec 20, 2023 8:16am
MyFundedFX I heard balance based, but not sure about payouts. ACG makes problems on multiple orders. The5ers is equity based daily DD and also has a SL rule. FXIFY is equity based. Anything with balance based only and allowing multiple orders without making any problems on payouts ? What is about TopTierTrader ?
  • #27,412
  • Dec 20, 2023 9:10am Dec 20, 2023 9:10am
Quoting TrAndy1
MyFundedFX I heard balance based, but not sure about payouts. ACG makes problems on multiple orders. The5ers is equity based daily DD and also has a SL rule. FXIFY is equity based. Anything with balance based only and allowing multiple orders without making any problems on payouts ? What is about TopTierTrader ?
The 5%ers SL rule does not apply to the high stakes program.
  • #27,413
  • Dec 20, 2023 9:33am Dec 20, 2023 9:33am
Quoting pipmaster77
{quote} Exactly, I have been using offshore brokers since 2014, never an issue getting paid. I also see ZERO of the tricks of the "regulated" brokers in the US....no frozen platforms, hanging prices, random spikes........none of it. I trust them 1000 times more than any USA broker and THEY ARE NOT REGULATED. Not to mention, 80% of my capital sits in an FDIC insured bank, 10% sits in an FDIC insured crypto exchange (for emergency margin), while only 10% of my actual trading capital is at the broker, simply because I only need 5-10% to trade THE SAME...
Soviet European Union also limits leverage on EU brokers to 1:30 to "protect me".

It's much better to use offshore brokers where I can use 1:500 instead of 1:30.
With only 6% of the money I can do the same trading. The remaining 94% is kept safe at home.
They say they are protecting me (throwing me to the arms of an offshore broker).

Same for ETF. I can't buy a SPY or TLT ETF but I can buy CFDs of SPY / TLT or even options of them.
  • #27,414
  • Dec 20, 2023 9:35am Dec 20, 2023 9:35am
Quoting TrAndy1
MyFundedFX I heard balance based, but not sure about payouts. ACG makes problems on multiple orders. The5ers is equity based daily DD and also has a SL rule. FXIFY is equity based. Anything with balance based only and allowing multiple orders without making any problems on payouts ? What is about TopTierTrader ?
Careful with Top Tier, Cue Banks is a known artist.
They were the only firm to deny me a funded account so far.
https://www.forexfactory.com/thread/...0#post14590870
  • #27,415
  • Dec 20, 2023 9:47am Dec 20, 2023 9:47am
Quoting Capablanca
{quote} Soviet European Union also limits leverage on EU brokers to 1:30 to "protect me". It's much better to use offshore brokers where I can use 1:500 instead of 1:30. With only 6% of the money I can do the same trading. The remaining 94% is kept safe at home. They say they are protecting me (throwing me to the arms of an offshore broker). Same for ETF. I can't buy a SPY or TLT ETF but I can buy CFDs of SPY / TLT or even options of them.
Exactly. TBH, they are doing us a favor by forcing us offshore. Contrary to the beliefs of those with their heads in the sand, the risk mitigation you and I use is far superior than depositing 20x more with a broker for margin.
I think we can all agree the money is still safer in your possession than WITH ANY broker.
  • #27,416
  • Dec 20, 2023 10:16am Dec 20, 2023 10:16am
Regulation should go as far as:

1) Registration
2) Cap reserves in case of emergency (audited)
3) Audited financials
4) Qualified persons
5) thats it - the rest the consumer can decide what they want to do.
  • #27,417
  • Dec 20, 2023 10:20am Dec 20, 2023 10:20am
Quoting Takisd
Regulation should go as far as: 1) Registration 2) Cap reserves in case of emergency (audited) 3) Audited financials 4) Qualified persons 5) thats it - the rest the consumer can decide what they want to do.
Yes, that should be all that is required, would be ideal IF regulation was actual there to actually benefit us. Sadly, not at all what it is there for.
  • #27,418
  • Dec 20, 2023 10:23am Dec 20, 2023 10:23am
Quoting pipmaster77
{quote} Yes, that should be all that is required, would be ideal IF regulation was actual there to actually benefit us. Sadly, not at all what it is there for.
the funny thing is, pretty much 99% of props fail the above basic regulation.
  • #27,419
  • Dec 20, 2023 10:27am Dec 20, 2023 10:27am
Does anyone have this court document? Interested to see what the “joint discovery plan” actually means

https://www.pacermonitor.com/public/...ROUP_INC_et_al
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  • #27,420
  • Dec 20, 2023 10:37am Dec 20, 2023 10:37am
Quoting Takisd
{quote} the funny thing is, pretty much 99% of props fail the above basic regulation.
Exactly, that's WHY it would be ideal........it would weed out all of the garbage that has popped up in the last 12-18 months.
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