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  • #27,821
  • Jan 6, 2024 8:12am Jan 6, 2024 8:12am
Quoting Nsak3y
{quote}-I could be mistaken, but I believe that bootcamp was always 3-phase. I was not the only one that thought that the bootcamp program would fail hard because the offering was kind of garbage, comparatively speaking. Maybe that is subjective. It seems to be a popular choice among some traders. I suspect that it is because of the price-point. One might say that it lowers the barrier-to-entry for low-income traders, providing them with opportunities that they would not otherwise have. Others might say that it preys on weak-minded and poverty-stricken...
Thanks Nsak3y. You are right they were 3 phase. I get mixed up with their offerings.
Trading one's own account might be better off with the rules to win instead of lose. 3 phase just seems so slavelike, keep going one day I'll get there type of thing. Highstakes seems better, slightly better rules and one phase less but more expensive.
  • #27,822
  • Jan 6, 2024 8:24am Jan 6, 2024 8:24am
Quoting Capablanca
{quote} I think you will find bad reviews in TP of, essentially, any broker. With that assumption, I thin you need to select the where the 1 and 2 stars are less concerning. Things that you can assume the problem was more misunderstanding from user like spreads wide during news or slippage horrible in rollouts. This is not something concerning, it's market conditions. Something concerning would be too many denials of withdraws. Surprised to see ICM with claims. I thought they were one of the best around. For retail I doubt you find better than IB....
IC Markets having withdrawal denied claims?
  • #27,823
  • Jan 6, 2024 8:24am Jan 6, 2024 8:24am
Guys is Myfundedfx still worth buying a challenge or not? i dont keep up with this theard for some time
  • #27,824
  • Jan 6, 2024 9:16am Jan 6, 2024 9:16am
I was about to open an account with Kraken to receive payouts and buy challenges in crypto, but came across an article about SEC charges against Kraken on Nov 20, 2023. Unlike CFTC-MFF case, Kraken is operating normally after the charges. Looks like CFTC is more evil than SEC.

https://www.sec.gov/news/press-relea...ts%20customers.

SEC Charges Kraken for Operating as an Unregistered Securities Exchange, Broker, Dealer, and Clearing Agency

The SEC’s complaint also alleges that Kraken’s business practices, deficient internal controls, and poor recordkeeping practices present a range of risks for its customers. As alleged in the complaint, Kraken commingles its customers’ money with its own, including paying operational expenses directly from accounts that hold customer cash. Kraken also allegedly commingles its customers’ crypto assets with its own, creating what its own auditor had identified as “a significant risk of loss” to its customers.

“We allege that Kraken made a business decision to reap hundreds of millions of dollars from investors rather than coming into compliance with the securities laws. That decision resulted in a business model rife with conflicts of interest that placed investors’ funds at risk,” said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement. “Kraken’s choice of unlawful profits over investor protection is one we see far too often in this space, and today we’re both holding Kraken accountable for its misconduct and sending a message to others to come into compliance.”

The SEC’s complaint, filed in federal district court in San Francisco, alleges that Kraken violated the registration provisions of the Securities Exchange Act of 1934 and seeks injunctive relief, conduct-based injunctions, disgorgement of ill-gotten gains plus interest, and penalties.
  • #27,825
  • Jan 6, 2024 9:31am Jan 6, 2024 9:31am
Quoting ladder
I was about to open an account with Kraken to receive payouts and buy challenges in crypto, but came across an article about SEC charges against Kraken on Nov 20, 2023. Unlike CFTC-MFF case, Kraken is operating normally after the charges. Looks like CFTC is more evil than SEC. https://www.sec.gov/news/press-relea...ts%20customers. SEC Charges Kraken for Operating as an Unregistered Securities Exchange, Broker, Dealer, and Clearing Agency The SEC’s complaint...
Make no mistake, SEC/US regulators has, or will be shaking down any and all crypto exchanges on US soil (and some not on US soil). Coinbase has had an ongoing war with them, Bittrex decided to exit US market along with all the others.
Trade with confidence, trade without fear.
  • #27,826
  • Jan 6, 2024 9:40am Jan 6, 2024 9:40am
Quoting Cryptosurf
{quote} Make no mistake, SEC/US regulators has, or will be shaking down any and all crypto exchanges on US soil (and some not on US soil). Coinbase has had an ongoing war with them, Bittrex decided to exit US market along with all the others.
Essentially, if you can’t ban the guns, ban the ammo. They won’t ban crypto, they’ll just drive out all the exchanges so you can’t use it.
  • #27,827
  • Jan 6, 2024 9:44am Jan 6, 2024 9:44am
Quoting AaronPriest
{quote} Essentially, if you can’t ban the guns, ban the ammo. They won’t ban crypto, they’ll just drive out all the exchanges so you can’t use it.
That being said, if Kraken really does “commingles its customers’ money with its own, including paying operational expenses directly from accounts that hold customer cash” then they are untrustworthy. Have they ever had an independent audit, self-initiated?
  • #27,828
  • Jan 6, 2024 9:50am Jan 6, 2024 9:50am
Here are 10 Prop Firms who I will be doing challenges with this Year. I am already in 5 Challenges and have 3 funded accounts. Upon my research these Prop firms are very reasonable and have decent reviews. I dropped Bespoke funding after they had payout issues (as seen in there discord). I dropped MyFlashFunding due to there massive Slippage which I experienced myself (20 pip Slippage during CPI). These are just based on my personal research.
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Drawdown is more important than Account Size !
  • #27,829
  • Jan 6, 2024 9:59am Jan 6, 2024 9:59am
Quoting AaronPriest
{quote} That being said, if Kraken really does “commingles its customers’ money with its own, including paying operational expenses directly from accounts that hold customer cash” then they are untrustworthy. Have they ever had an independent audit, self-initiated?
SEC demands certain protocols be followed regardless of existing business models. If not they insist fraud is taking place. Kraken had always had a spotless reputation. They also demand regular (intrusive) reporting take place which is why most have decided not to play on US soil.
Trade with confidence, trade without fear.
  • #27,830
  • Jan 6, 2024 10:02am Jan 6, 2024 10:02am
Quoting FocusWinReal
{quote} Thanks Nsak3y. You are right they were 3 phase. I get mixed up with their offerings. Trading one's own account might be better off with the rules to win instead of lose. 3 phase just seems so slavelike, keep going one day I'll get there type of thing. Highstakes seems better, slightly better rules and one phase less but more expensive.
The high stakes is just like MFF/FTMO or any of the classic 2 phase. It is 8%/5% targets so better than FTMO in that regard. They scale at 10% regardless of time, where the classics were 3-4 months tp scale. Spread on majors is 0 all day and razor thin on crosses as well.
Only disadvanatage, which I have recently posted is turning out to be a good thing, is only 100K initiial max funding. If you missed that post, I was stating it appears the firms who have survived a long time are not offering ridiculous 600K + INITIAL funding and the ones that are are just money grabbing as quickly as they can and then finding reasons to ban traders and/or deny payouts. They also have a 3 day rule where you have to make at least 0.5% for 3 days, so can't pass on 1 or 2 windfall trades (also a good thing IMO).
For professionals (non-gamblers), FTMO and the 5%ers are THE ONLY plays right now. I am vetting Funding Pips, but not onboard yet.
Keep in mind, this is coming from someone who has been very outspoken regarding the 5%ers previous models offering no value at all to a trader. Once they introduced a model like the others, providing 15-20X your investment as max loss, I might even go out on a limb and claim they are THE BEST around now.
  • #27,831
  • Jan 6, 2024 10:39am Jan 6, 2024 10:39am
Quoting DeltaCapital
Guys is Myfundedfx still worth buying a challenge or not? i dont keep up with this theard for some time
The risk is your failure and losing the fee.
The potential reward is questionable, (in my opinnion).

I personally dont think its worth it, becouse its not the most efficiant move to maximize your trading, but besides that the risk depends on your trading results (passing or not passing the challenges).
1k to 100k Copy Trading All Time Return: 367.9%
  • #27,832
  • Jan 6, 2024 10:48am Jan 6, 2024 10:48am
Quoting Capablanca
{quote} I think you will find bad reviews in TP of, essentially, any broker. With that assumption, I thin you need to select the where the 1 and 2 stars are less concerning. Things that you can assume the problem was more misunderstanding from user like spreads wide during news or slippage horrible in rollouts. This is not something concerning, it's market conditions. Something concerning would be too many denials of withdraws. Surprised to see ICM with claims. I thought they were one of the best around. For retail I doubt you find better than IB....
interactive brokers is hated for their missing support and bad platform, rest should be ok at middle level (in old days was good for pricing conditions, now other have near same or better), and very good for options. and protection of money is better, depends how someone protects own money by themself with their trading style and objects.
  • #27,833
  • Jan 6, 2024 10:53am Jan 6, 2024 10:53am
Quoting KarlKraus
{quote} That’s why you need to trade futures and not CFD’s, so your broker actually IS a broker, not a counterparty, and is on your side. Doing so is effectively all advantages and no disadvantages. It’s a simple and helpful way of leaving all these problems behind you. Ask yourself why nobody who switches from CFDs to futures ever switches back!
for currencies not possible in daytrading, only for beginners maybe and small trading amounts, to small the future market.

no cfd broker will trade against you, when you do a lot of wins, not even A-book you. they will step up and get trade first from LP and then give you and so only earn some 100k or million on commission over years, thats enough for them.
  • #27,834
  • Jan 6, 2024 11:24am Jan 6, 2024 11:24am
Quoting Cryptosurf
{quote} Make no mistake, SEC/US regulators has, or will be shaking down any and all crypto exchanges on US soil (and some not on US soil). Coinbase has had an ongoing war with them, Bittrex decided to exit US market along with all the others.
I think that Coinbase is really leading the case to court and not settle, to force the court to rule out. Hats off to them if they do this.
  • #27,835
  • Jan 6, 2024 11:31am Jan 6, 2024 11:31am
Quoting procrude
Here are 10 Prop Firms who I will be doing challenges with this Year. I am already in 5 Challenges and have 3 funded accounts. Upon my research these Prop firms are very reasonable and have decent reviews. I dropped Bespoke funding after they had payout issues (as seen in there discord). I dropped MyFlashFunding due to there massive Slippage which I experienced myself (20 pip Slippage during CPI). These are just based on my personal research. {image} {image} {image} {image} {image} {image} {image} {image} {image} {image}
The Funded trader is owned by Angelo, a very shady guy and US based, Top Tier is owned by cue bank artist and was the only one that refused me a funded account and never explained me which rule they thing I violated (despite my multiple emails asking for it), Funded Next has terrible rules about IP and very known for finding a lot of reasons for not paying. My Flash is owned by the same guy than Blue Guardian. If you will be happy by Blue you may probably use Flash (maybe it was just bad luck).
Good luck anyway. I'm saying all this but I received payouts from all of them, except tier, FT+ (I think they only had trailing stop in the past) and Funded Pips (I have a funded account but didn't get yet to a payout).
  • #27,836
  • Jan 6, 2024 11:35am Jan 6, 2024 11:35am
Quoting Trader191
{quote} interactive brokers is hated for their missing support and bad platform, rest should be ok at middle level (in old days was good for pricing conditions, now other have near same or better), and very good for options. and protection of money is better, depends how someone protects own money by themself with their trading style and objects.
Which ones have good conditions these days (futures) for retail ? AMP futures ?
  • #27,837
  • Jan 6, 2024 11:57am Jan 6, 2024 11:57am
Quoting AaronPriest
Essentially, if you can’t ban the guns, ban the ammo. They won’t ban crypto, they’ll just drive out all the exchanges so you can’t use it.
-They are like the mob; they will go after your entire family... brokers, props, exchanges, payment processors, payment gateway/transfer methods, banks, and now even software developers.

The overreaching regulation is causing more harm than good. It has become a serious problem.
  • #27,838
  • Edited 1:07pm Jan 6, 2024 12:15pm | Edited 1:07pm
Quoting pipmaster77
{quote} The high stakes is just like MFF/FTMO or any of the classic 2 phase. It is 8%/5% targets so better than FTMO in that regard. They scale at 10% regardless of time, where the classics were 3-4 months tp scale. Spread on majors is 0 all day and razor thin on crosses as well. Only disadvanatage, which I have recently posted is turning out to be a good thing, is only 100K initiial max funding. If you missed that post, I was stating it appears the firms who have survived a long time are not offering ridiculous 600K + INITIAL funding and the ones...
if you take commissions into account , are the5ers a better deal than FTMO for the forex majors costwise ?
  • #27,839
  • Jan 6, 2024 12:48pm Jan 6, 2024 12:48pm
Quoting Stoneyrocks
{quote} if you take commissions into account , are the5ers a better deal than FTMO for the forex majors ?

Which program of the5ers allocate the maximum amount?
  • #27,840
  • Jan 6, 2024 1:35pm Jan 6, 2024 1:35pm
Quoting cuchuflito
What a world! I have 4 accounts on a prop and I know, after a few payments they will kick me out with some excuse. So far I could identify only one prop that has no negative payment comments in Trustpilot: "The trading pit", German owners, based in Lichtenstein and full German Bafin regulated. Not that I believe they pay millions to winners. In my book, 2 payment failure comments in Trust Pilot, and the company is scratched. Then I have a broker account with ICM, I withdrew only once but in T Pilot there are plenty of people claiming...
I'm not saying you're a prop firm pimp but come on now. Your profile says Germany, a prop firm owned by Germans, regulated in Germany and they have 7% one-star reviews. Probably just a coincidence.

Disclaimer: All expo33 posts are for entertainment purposes only.
Pride always comes before destruction.... -Proverbs 16:18
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