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  • #29,081
  • Feb 2, 2024 11:11am Feb 2, 2024 11:11am
Quoting woody70
{quote} Funny Ive had 1000:1 for almost a decade and have taken thousands of dollars out and not one problem. All high leverage brokers are not bad.
what you mean by this? you only have increased costs with such brokers often, so less wins. but of course you can take out the money out of the broker, when its no scam broker.
and thousands in 10 years sounds like a low number, so looks like your deposits there are also very low (maybe less then 10.000?), so they offer this high leverage in some brokers for lower amount accounts. its to risky for brokers to allow very high leverages , so they only do for low equities or small broker companies.

because you put out money often you dont get a to high amount inside, so you still get this leverage. on the other hand you lose the compounding effect.
  • #29,082
  • Feb 2, 2024 11:21am Feb 2, 2024 11:21am
Quoting Trader191
{quote} what you mean by this? you only have increased costs with such brokers often, so less wins. but of course you can take out the money out of the broker, when its no scam broker. and thousands in 10 years sounds like a low number, so looks like your deposits there are also very low (maybe less then 10.000?), so they offer this high leverage in some brokers for lower amount accounts.
My costs with my unregulated brokers are significantly LOWER. I have much lower spreads than with any regulated CFTC broker. You actually pay for regulation, which in the US, is pointless, as they do not protect or insure forex accounts. Therefore, my money is much safer in my bank than being used as margin that is not really neccessary at a broker.
Example, I want to trade 1 standard lot of GBPUSD with a 30 pip stop, I am risking $300.....In the US, I need $5000 for margin (once again, not insured). Instead I can take $500 spead across 5 brokers at $100 each and $4,500 stays in my bank (protected).
I'm just using basic, small numbers here for ease of explanation.
You tell me, which is riskier?
  • #29,083
  • Feb 2, 2024 11:24am Feb 2, 2024 11:24am
Quoting Capablanca
More from TFF CEO. Probably damage control to avoid a torrent of charge backs {image}
funny how a company who uses a third party vendor for technology can say such things
  • #29,084
  • Feb 2, 2024 11:27am Feb 2, 2024 11:27am
Quoting Trader191
{quote} what you mean by this? you only have increased costs with such brokers often, so less wins. but of course you can take out the money out of the broker, when its no scam broker. and thousands in 10 years sounds like a low number, so looks like your deposits there are also very low (maybe less then 10.000?), so they offer this high leverage in some brokers for lower amount accounts. its to risky for brokers to allow very high leverages , so they only do for low equities or small broker companies. because you put out money often you dont get...
You said no good broker will 500 leverage. I don't know what additional cost your talking about spreads and commissions? All brokers have those in some way. You're right my deposit were below 10k. One account had one deposit of 750 dollars and in 2 years time I withdrew over 9k in that account.
  • #29,085
  • Feb 2, 2024 11:27am Feb 2, 2024 11:27am
Quoting Stoneyrocks
{quote} I did not see that on the website of FTMO that targets are less on the swing account..
You won't see it on the website. The trial account is what defines what you will see during real evaluation challenge. For example when I was going through the FTMO academy, one of the questions talked about profit target. If you accidentally choose 10%, you will fail the question. Just follow what you see on the trial account and save yourself from stress. When I chat up their support, it is the same as trial account. The only drawback being that Trial Account do not have phase 2 challenge
https://trader.ftmo.com/metrix/1040315039
  • #29,086
  • Feb 2, 2024 11:28am Feb 2, 2024 11:28am
Quoting Trader191
{quote} what you mean by this? you only have increased costs with such brokers often, so less wins. but of course you can take out the money out of the broker, when its no scam broker. and thousands in 10 years sounds like a low number, so looks like your deposits there are also very low (maybe less then 10.000?), so they offer this high leverage in some brokers for lower amount accounts. its to risky for brokers to allow very high leverages , so they only do for low equities or small broker companies. because you put out money often you dont get...
But you do not lose the compounding effect.......let's take it up to 1,000,000 in capital, 850K in my bank, well 4 banks as FDIC only insures up to 250K....150K spread across 5 brokers, it is still only 30K(3%) at each broker. I am still executing trades on a 1,000,000 capital.
You can spin this however you'd like to fit your agenda, there is no scenario where this is not a superior risk mitigation strategy.
Not to mention, your conditions will severly deteriorate when executing beyond a certain size all at one broker.
  • #29,087
  • Feb 2, 2024 11:30am Feb 2, 2024 11:30am
Quoting Capablanca
More from TFF CEO. Probably damage control to avoid a torrent of charge backs {image}
Love how saying they're not some 'cheap white label' bla bla whilst being too incompetent to keep their own MQ licences.

I suspect they've been using some very questionable third party broker / LPs (which is saying a lot given the total shit that MetaQuotes will work with).
  • #29,088
  • Feb 2, 2024 11:35am Feb 2, 2024 11:35am
Quoting Takisd
{quote} funny how a company who uses a third party vendor for technology can say such things

lol, if you didn't have your own private server with a direct meta license what the hell were you doing other than 3rd party white label?
  • #29,089
  • Feb 2, 2024 11:39am Feb 2, 2024 11:39am
Quoting Takisd
{quote} funny how a company who uses a third party vendor for technology can say such things
This is nothing more then the “everything’s fine” meme.
Trade with confidence, trade without fear.
  • #29,090
  • Feb 2, 2024 11:39am Feb 2, 2024 11:39am
FTMO, 5%ers and until their shutdown MFF all ran their own licences.

It obviously can be done, but if you piss MQ off then bye bye.
  • #29,091
  • Feb 2, 2024 11:41am Feb 2, 2024 11:41am
Quoting pipmaster77
{quote} But you do not lose the compounding effect.......let's take it up to 1,000,000 in capital, 850K in my bank, well 4 banks as FDIC only insures up to 250K....150K spread across 5 brokers, it is still only 30K(3%) at each broker. I am still executing trades on a 1,000,000 capital. You can spin this however you'd like to fit your agenda, there is no scenario where this is not a superior risk mitigation strategy. Not to mention, your conditions will severly deteriorate when executing beyond a certain size all at one broker.
i dont see why its superior? ok, i am not amercian, dont know the regulations and rules there so can change all hat i say.

when i execute 100 or 200 lot trade with many brokers, its goes to same LP and get exactly same problems with liquidity. of course you can use a lot of market making brokers and trade against them for the liquidity, but they kick ut when you are successful over the time or only have small wins (what is not the plan).
so sounds smart to go over many brokers, but dont change in reality, because near all good brokers go to same liquidity pools. this can work only with small order sizes and then again same problem. so on beginning all is easy and such problems dont care, difficult gets from medium level and up or bigger account sizes (what is automatic when you trade a longer time).

but i respect your points.
  • #29,092
  • Feb 2, 2024 11:46am Feb 2, 2024 11:46am
Quoting woody70
{quote} You said no good broker will 500 leverage. I don't know what additional cost your talking about spreads and commissions? All brokers have those in some way. You're right my deposit were below 10k. One account had one deposit of 750 dollars and in 2 years time I withdrew over 9k in that account.
you are right, i dont know about american law and restrictions.

and good result. but this "small" (9k) numbers a broker dont care so much , most have 10.000, 50.000 or 100.000 as borders to take a look to kick someone out.
of course only when its marketmaking broker, when your broker is not, then you did perfect best job and never have to care about how much you win.

respect to your results.
  • #29,093
  • Feb 2, 2024 11:46am Feb 2, 2024 11:46am
Quoting CableJ
{quote} lol, if you didn't have your own private server with a direct meta license what the hell were you doing other than 3rd party white label?
It seems they picked the wrong partner because all the other cheap white labels are still working
  • #29,094
  • Feb 2, 2024 11:52am Feb 2, 2024 11:52am
Quoting Capablanca
{quote} It seems they picked the wrong partner because all the other cheap white labels are still working
Exactly
  • #29,095
  • Feb 2, 2024 11:52am Feb 2, 2024 11:52am
Quoting PropDude1234
FTMO, 5%ers and until their shutdown MFF all ran their own licences. It obviously can be done, but if you piss MQ off then bye bye.

private server props = ban us traders to keep meta license
regulated broker props = drop meta for another platform to keep US client base
  • #29,096
  • Feb 2, 2024 11:56am Feb 2, 2024 11:56am
Quoting CableJ
{quote} private server props = ban us traders to keep meta license regulated broker props = drop meta for another platform to keep US client base
Quite possibly.

Private server ones can onboard other platforms too.
  • #29,097
  • Feb 2, 2024 11:58am Feb 2, 2024 11:58am
Alright people update time as its a friday .. comes to be FRYDAY FOR MY CHALLENGES…
200k myflashfunding and 2x200k blueguardian phase 1 challenges all are in drawdown close to 4%.:. Everytrade executed literally went in my direction but reversed before my tp and hit positive sl and then i got greedy took a bigger size position on us30 buy limit which triggered and hit my sl which was huge due to news before hitting the take profit… these are some non friendly days when your winners take your positive sl and then hit your tp target 4-5 times in a row after… nevermind will trade with .5% risk until breakeven.

all the sells on cable hit my stoploss which was literally the high of the day .. the us30 buy literally went beyond my sl and reversed
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Extreme gut feeling trader
  • #29,098
  • Feb 2, 2024 11:58am Feb 2, 2024 11:58am
Quoting Capablanca
{quote} It seems they picked the wrong partner because all the other cheap white labels are still working
I believe they were the only prop on the CFTC red list... which never really made any sense to me.
  • #29,099
  • Feb 2, 2024 12:27pm Feb 2, 2024 12:27pm
The second props start using DXTrade for US that redlist is going to start filling up.
  • #29,100
  • Feb 2, 2024 12:52pm Feb 2, 2024 12:52pm
Quoting Advice777
{quote} You won't see it on the website. The trial account is what defines what you will see during real evaluation challenge. For example when I was going through the FTMO academy, one of the questions talked about profit target. If you accidentally choose 10%, you will fail the question. Just follow what you see on the trial account and save yourself from stress. When I chat up their support, it is the same as trial account. The only drawback being that Trial Account do not have phase 2 challenge
The free trial account only runs for 2 weeks. The FTMO challenge used to run for 30 days (but is now unlimited). Thus the targets for the trial are half the target of the challenge. I don't know what their academy has for questions or answers, but that has been the case for years.
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