Prop Firm Hub | Page 1451 | Crypto Craft

Options

Go to
Permalinks
Print Thread

Similar Threads

Anyone trading with a Prop firm 31 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

prop firm new model - my trading journey 871 replies

Attachments: Prop Firm Hub
Exit Attachments

Prop Firm Hub

  • #29,001
  • Feb 2, 2024 5:52am Feb 2, 2024 5:52am
Mods in ACG saying that all white labels knew this was gonna happen as they were informed a year ago. Probably bs to not make people panick but I'd be hopeful that the better props make the adjustments needed so that they could still operate for a couple more years.
  • #29,002
  • Feb 2, 2024 5:55am Feb 2, 2024 5:55am
Quoting noox
{quote} {quote} I asked the question 3 days ago in line with what Takisd was warning about, only to be ridiculed in this thread. Well...
TFF promotion was run before Meta's letter (dated 22nd). For the others I have no idea if they got any communication.
  • #29,003
  • Feb 2, 2024 6:08am Feb 2, 2024 6:08am
Quoting Capablanca
{quote} TFF promotion was run before Meta's letter (dated 22nd). For the others I have no idea if they got any communication.
The better scenario is that this is an isolated incident targeting TFF because they are on the infamous red list and Meta is trying to comply to US regulations. The worse case is that this is the starting of many props and vendors to fold. It's not exactly like we can fully believe what TFF or anyone else is saying. We don't know if that was the first letter, I suspect it wasn't which means the domino effect follows.
For the time being I'd stay away from firms giving suspiciously large discounts. But if there is an indication of the domino effect, then it's really a game of musical chairs of who's going to be here by summer.
  • #29,004
  • Feb 2, 2024 6:22am Feb 2, 2024 6:22am
I think prop firms will get together and come up with there own Platform. Afterall these are only demo accounts anyway. Also, that will eliminate EA's and trade copier use. ((More money for these Ponzi Prop Firms).
Drawdown is more important than Account Size !
  • #29,005
  • Feb 2, 2024 6:23am Feb 2, 2024 6:23am
Quoting noox
{quote} The better scenario is that this is an isolated incident targeting TFF because they are on the infamous red list and Meta is trying to comply to US regulations. The worse case is that this is the starting of many props and vendors to fold. It's not exactly like we can fully believe what TFF or anyone else is saying. We don't know if that was the first letter, I suspect it wasn't which means the domino effect follows. For the time being I'd stay away from firms giving suspiciously large discounts. But if there is an indication of the domino...
That's the biggest question right now: Whoever also received a similar letter ? (and this included brokers)
  • #29,006
  • Feb 2, 2024 6:27am Feb 2, 2024 6:27am
Quoting Nsak3y
{quote}-Not surprising at this point. Traders should expect more to come, probably. I do not know what kind of license agreement that Meta has with its clients, but you would think that all of the businesses that get killed over Meta's succumbing to regulatory pressure would have some liability claim against Meta. Maybe they protected themselves well enough. I can only thank regulators from the bottom of my heart for further-protecting me from my own free will.
Welp... that's another 200K @ TFF up in smoke on top of 600K @ MFF... SMH
  • #29,007
  • Feb 2, 2024 6:32am Feb 2, 2024 6:32am
Quoting Capablanca
{quote} https://twitter.com/epfregnews/statu...70351390908741 https://twitter.com/epfregnews/statu...73419729834107 It's now clear that they lied to everyone during 2 weeks to cash in some more challenges, while not paying anyone. Anyway, this will repeat in more props IMO and not just props. Also in brokers offshore. Meta is being squeezed by regulators which is the easiest way to shut down prop industry and offshore brokers. How didn't they think about that before, evil as they are ? So simple.
This now has me looking side eyed @ Alpha capital groups recent 40% discount
  • #29,008
  • Feb 2, 2024 6:33am Feb 2, 2024 6:33am
Quoting Capablanca
{quote} I agree. Maybe it's a small operation with low profile, without the monthly competition fever and the bunch of affiliates that would sell their mother for a dozen of payments. In favor of them is the fact of being around for several years. No news, here or in twitter, at least that I heard, of denied payouts or banned traders for fabricated reasons. I have not checked fakepilot.
Yup, quiet and no drama.
  • #29,009
  • Feb 2, 2024 6:46am Feb 2, 2024 6:46am
Just so you know the third party brokers have notice but more time to change policy. If you are a US resident familiarize your selves with dxtrade for now
  • #29,010
  • Feb 2, 2024 6:56am Feb 2, 2024 6:56am
Quoting CableJ
{quote} Welp... that's another 200K @ TFF up in smoke on top of 600K @ MFF... SMH
Another one here.
200K and I was waiting for a payout of around 500 USD (I stopped trading in late January because with those 500 USD I achieved the 8% scaling level). Perfect timing.

In TPT I also burned 800K.

Good that it was just simulated accounts generating simulated payouts.
  • #29,011
  • Feb 2, 2024 6:56am Feb 2, 2024 6:56am
Quoting Takisd
Just so you know the third party brokers have notice but more time to change policy. If you are a US resident familiarize your selves with dxtrade for now
TFF had private servers like FTMO & MFF. Do you think thinkmarkets, 8cap, blueberry & purple will be forced by metaquotes to shut down access to metatrader basically affecting all the remaining non private server props?

Now I wonder what 5%ers are going to do, they also have their own servers... they likely got the same letter from metaquotes as well as FTMO before they dropped US citizens.
  • #29,012
  • Feb 2, 2024 6:58am Feb 2, 2024 6:58am
Quoting Takisd
Just so you know the third party brokers have notice but more time to change policy. If you are a US resident familiarize your selves with dxtrade for now
From 5ers:

Announcement Regarding TFF and The5ers
Clarifying Information for Our Community:
We've received numerous inquiries regarding TFF's recent cessation by Metaquotes. We want to assure our community that The5ers is not affected by this situation.
Understanding the TFF Situation:
Our best understanding is that Metaquotes terminated TFF due to alleged misuse of their agreement and policy guidelines. Specifically, concerns were raised about onboarding traders through a third-party license owner not regulated as a broker.
The5ers: Distinct Operation with Direct Metaquotes License:
Unlike TFF, The5ers operates with a fundamentally different structure. We hold a direct license from Metaquotes, the first prop firm to do so. Additionally, we maintain consistent and open communication with Metaquotes personnel.
Transparency and Collaboration:
The5ers is committed to complete transparency with our community and valued partners at Metaquotes. We strive to foster a trusting and collaborative relationship for the benefit of all involved.
Conclusion:
We trust this statement clarifies the situation and alleviates any concerns. Keep up the good trading spirit!
High 5,
The5ers Team
  • #29,013
  • Feb 2, 2024 6:59am Feb 2, 2024 6:59am
Quoting CableJ
{quote} TFF had private servers like FTMO & MFF. Do you think thinkmarkets, 8cap, blueberry & purple will be forced by metaquotes to shut down access to metatrader basically affecting all the remaining non private server props? Now i wonder what 5%ers are going to do, they also have their own server.
I know for a fact they got notice that US residents are going to get geo banned
  • #29,014
  • Feb 2, 2024 7:02am Feb 2, 2024 7:02am
Quoting CableJ
{quote} TFF had private servers like FTMO & MFF. Do you think thinkmarkets, 8cap, blueberry & purple will be forced by metaquotes to shut down access to metatrader basically affecting all the remaining non private server props? Now I wonder what 5%ers are going to do, they also have their own servers... they likely got the same letter from metaquotes as well as FTMO before they dropped US citizens.
The5ers had this to say this morning (they love colons, so I'll use one too!):


Announcement Regarding TFF and The5ers
Clarifying Information for Our Community:
We've received numerous inquiries regarding TFF's recent cessation by Metaquotes. We want to assure our community that The5ers is not affected by this situation.
Understanding the TFF Situation:
Our best understanding is that Metaquotes terminated TFF due to alleged misuse of their agreement and policy guidelines. Specifically, concerns were raised about onboarding traders through a third-party license owner not regulated as a broker.
The5ers: Distinct Operation with Direct Metaquotes License:
Unlike TFF, The5ers operates with a fundamentally different structure. We hold a direct license from Metaquotes, the first prop firm to do so. Additionally, we maintain consistent and open communication with Metaquotes personnel.
Transparency and Collaboration:
The5ers is committed to complete transparency with our community and valued partners at Metaquotes. We strive to foster a trusting and collaborative relationship for the benefit of all involved.
Conclusion:
We trust this statement clarifies the situation and alleviates any concerns. Keep up the good trading spirit!
High 5,
The5ers Team
  • #29,015
  • Feb 2, 2024 7:04am Feb 2, 2024 7:04am
Quoting Takisd
If you are a US resident familiarize your selves with dxtrade for now
-I saw some good reviews about tradelocker. Looks like it is built on Trading View. I do not know anything about dxtrade, but I did look at ACT trader and quickly felt like killing myself would be better than having to use it for trading.
  • #29,016
  • Feb 2, 2024 7:04am Feb 2, 2024 7:04am
Quoting birdland
{quote} haha, as far as regulated brokers are safer...sorry my laughing that's really bad luck. the only thing that helps is to keep siphoning off money. i've learnt that you should never have too much money in your account.
and that is the advantadge of the high leverage, un regulated brokers the clueless tell us NOT TO USE.
You can put 100K in a regulated broker because they only offer 20 or 30 to 1. The entire 100K is at risk despite what you may believe.
OR
You can keep 85K in an FDIC insured bank account, put 3k each in 5 high leverage brokers and copy trade.

In both scenarios, you can execute the same EXACT same trades and therefore make the same EXACT profit.
Yet, here we are, the clueless with 85% of our capital sitting safely in our own banks.
  • #29,017
  • Feb 2, 2024 7:07am Feb 2, 2024 7:07am
Quoting CableJ
Do you think thinkmarkets, 8cap, blueberry & purple will be forced by metaquotes to shut down access to metatrader basically affecting all the remaining non private server props?
-If Meta is intent on blocking access by banning US IP addresses, then I suspect that everyone that operates outside of US regulatory compliance (or Meta requirements) could be a potential target. We have seen already, many brokers lose their licenses. More prop firms will be looking for alternatives, I suspect.
  • #29,018
  • Feb 2, 2024 7:07am Feb 2, 2024 7:07am
Quoting Capablanca
{quote} From 5ers: Announcement Regarding TFF and The5ers Clarifying Information for Our Community: We've received numerous inquiries regarding TFF's recent cessation by Metaquotes. We want to assure our community that The5ers is not affected by this situation. Understanding the TFF Situation: Our best understanding is that Metaquotes terminated TFF due to alleged misuse of their agreement and policy guidelines. Specifically, concerns were raised about onboarding traders through a third-party license owner not regulated as a broker. The5ers: Distinct...
Yea ok... you have your own direct license rather than going through a white label 3rd party, but you're also currently accepting US citizens just like several offshore brokers that have recently either lost their meta licenses or banned US traders to keep their license.
  • #29,019
  • Feb 2, 2024 7:09am Feb 2, 2024 7:09am
Quoting CableJ
{quote} Yea ok... you have your own direct license rather than going through a white label 3rd party, but you are also currently accepting US citizens just like several offshore brokers that have recently lost their meta licenses or banned US traders to keep their license.
Yup, and I hope they can continue to do so, because they are the last good firm OR broker I can use. I'm pretty much down to one. They did say that Metaquotes has not contacted them over this topic, and they have regular communications with Metaquotes, for what it's worth.
  • #29,020
  • Feb 2, 2024 7:10am Feb 2, 2024 7:10am
Quoting Takisd
{quote} I know for a fact they got notice that US residents are going to get geo banned
Just to clarify, you mean Meta notified props that they (Meta) are going to ban US residents ?
71 traders viewing now