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  • #29,181
  • Feb 4, 2024 6:15am Feb 4, 2024 6:15am
Quoting Takisd
Apparently FCFF after scamming everyone for a year, has started to send some payouts out. Some people reporting their 11 months old payout requests got paid the last few days.
FCFF ?
  • #29,182
  • Feb 4, 2024 6:35am Feb 4, 2024 6:35am
Quoting Stoneyrocks
{quote} FCFF ?
first class forex frauds
  • #29,183
  • Feb 4, 2024 6:59am Feb 4, 2024 6:59am
Quoting Desbinary
{quote} 2. They are allegedly soon to introduce copy trading, on You may be aware, now that Transak joined the party with allowing direct & seamless One-Click Crypto to FIAT to VISA/Mastercard, they've officially set the cat amongst the pigeons. When the news broke on Tuesday I signed up with Transak & tested the off-ramp. Suffice to say, it's nothing short of mind-blowing with how seamless it's execution is. Trusting the information may help to shed some light had you missed User Capablanca's intial post related thereto.
Hi Desbinary, regarding withdrawals from prop that only offer crypto>>>
So by using Transak we can make crypto withdrawals directly from the prop firm to Transak to our local bank account in fiat currency..
What about the fees, are they low for small withdrawals from prop firms...thanks in advance.
  • #29,184
  • Feb 4, 2024 7:01am Feb 4, 2024 7:01am
Quoting Capablanca
The positive of that (recorded in blockchain) is that props can't fabricate big payouts because that has to be there. No fake things allowed.
-Technically, they could still fake things by sending funds to their own wallets. It would actually probably make it easier to fake payouts.
  • #29,185
  • Feb 4, 2024 7:02am Feb 4, 2024 7:02am
Quoting sampat
Yea but my concern is calculating actual P&L. For example if a trader have 12 different accounts. If 3 of them makes money and 4 of them are blown and 5 of them under water. How do you do book keeping like actual P&L.
-As Capablanca mentioned, all of this can be done easily with excel. Just set your initial P&L at negative (the amount of the challenges), and log daily profit for each account. Then use a basic formula to calculate a total P&L across all accounts.
  • #29,186
  • Feb 4, 2024 7:04am Feb 4, 2024 7:04am
Quoting Lrg
So by using Transak we can make crypto withdrawals directly from the prop firm to Transak to our local bank account in fiat currency.. What about the fees, are they low for small withdrawals from prop firms...thanks in advance.
-You can check their fee (and limits) schedule here:

https://support.transak.com/en/artic...ees-and-limits
  • #29,187
  • Feb 4, 2024 7:18am Feb 4, 2024 7:18am
Quoting Capablanca
{quote} Excel will do that. I have a column for each prop and enter lines for each purchased challenge (value paid) and payout/refund received. At the end of each column I have the P&L for each prop I have a second spreadsheet where I track the blown challenges per prop and date (if that was in phase1, phase 2 or funded)
Hello Capablanca;

I trust you are well.

Your Excel workbook reference is indeed a worthwhile suggestion for individuals who don't wish to purchase Out The Box Software such as some Traders have suggested.

If I may enquire, does your Excel Workbook require manually updating the data into the respective worksheets or have you created hyperlinked and macro driven, Boolean logic-based formulas in order to ensure automated updating?

Should you have deployed the latter it is great & if you find it within yourself perhaps sharing the File with all concerned on the thread may assist everyone track their accounts real time. This is since they will only then need to export the data from their respective trading accounts into CSV format into a generic Excel workbook which acts as a proxy for raw data destination.

From there, a series of V-Lookup & VBA Boolean rules will ensure the raw data is hyperlinked into the destination cells and all the accounts are updated either at intervals when the download of the data from the Metaquotes Bridge is scheduled or the user can "force" the download & update manually at intervals they wish to refresh their data.

The process would have required a little more complexity on the older versions of Excel but the more recent releases render compilation of workbooks such as these fairly straight-forward. All the same, for individuals who are not entirely au fait with functionality of Excel, they could use your Workbook as a robust substitute for paid software.

Naturally, if you wish to protect the Workbook, formula columns or any other aspect related thereto Excel offers a multiplexity of solutions to ensure these are kept non-volatile.

This is not to suggest you wish to act as a gatekeeper for the logic driving the file but more for newer users of Excel who could mistakenly key in data into one or more of the formulae driven columns which would then render the document returning Division by Zero results across the array which you had dimensioned on the VBA Back-End.

I trust you find my suggestion & feedback in order & May The Markets Go With You.
Des
My success is due to The Great Napoleon Hill. May His Name Live Forever
  • #29,188
  • Feb 4, 2024 7:40am Feb 4, 2024 7:40am
Something cooking with E8 funding... there website shows :
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 6 KB
Drawdown is more important than Account Size !
  • #29,189
  • Feb 4, 2024 8:11am Feb 4, 2024 8:11am
Quoting montygoldy
{quote} fundednext is a bit on expensive side… like my planning is different i am going for average firms with cheapest challenges as it gives me more room to practise those challenges and gain experience and fix the mistakes i make… i am no prop firm champion but with more challenges i am fixing the mistakes in past … this is the statistics of 2023 last quarter when i started my prop firm journey i did 15 challenges and able to get 2 funded (eventually lost them without payout) and 6 reached phase 2…. this year i took 9 challenges so far got 4...
so all together you did make loss until now!
because you did win less against what you need for pay your fix costs each month over last months?
and same time lost time to invest in prop and could not work in this time , so lost this opportunity costs of many month work payment maybe of many thousands?

so you hope in future you will not lose anymore and get the lost money back and get a winner on the end?
  • #29,190
  • Feb 4, 2024 8:24am Feb 4, 2024 8:24am
Quoting Trader191
{quote} so all together you did make loss until now! because you did win less against what you need for pay your fix costs each month over last months? and same time lost time to invest in prop and could not work in this time , so lost this opportunity costs of many month work payment maybe of many thousands? so you hope in future you will not lose anymore and get the lost money back and get a winner on the end?
thats alot of calculation
1. Trading is a hobby and i trade from my phone and the important part is prop firm is not the only trading i do. I have a couple accounts as well… So the time never wasted instead gained experience and improved technique
2. I invested money which i can most importantly AFFORD TO LOSE.
3. Now i am at point of breakeven and next week will be up few thousands.
4. Everybody has a goal or milestone in mind what they want to achieve. My goal is not few thousands withdrawal instead 3-4 million funding to build a personal 200k account this year. So i am progressing based on that.
5. Yes there are efforts and energy spent and yeah i accept it. Took it is a learning phase to gain the skill to win this prop firm game
Extreme gut feeling trader
  • #29,191
  • Feb 4, 2024 8:40am Feb 4, 2024 8:40am
Quoting Takisd
Apparently FCFF after scamming everyone for a year, has started to send some payouts out. Some people reporting their 11 months old payout requests got paid the last few days.
WTF ?! Why could be that ? To avoid jail ?
  • #29,192
  • Feb 4, 2024 8:42am Feb 4, 2024 8:42am
Quoting Capablanca
BTW, good news and bad news. The good news is that FXIFY is still paying. I got the payout last week, took 24 hours and no need to cry over their support. It seems they are now tracking the google form when there is a resubmission (resubmission is when people received previous payouts and reused the same google form because the link is always the same). The bad news is that they don't pay attention when we enter a different crypto address. This is a recurrent problem in FXIFY. I tend to use a different (self) crypto address for each payout to avoid...
Hello again Capablanca;

Thanks for your update wrt FXIFY and their payment protocols.

Whilst your suppositions are not at all illogical there is another spin to the scenario concerning them using the "existing/old" address. That is, a little while ago Regulatory oversight bodies were supposedly beginning to roll out requirements that payments such as these be made to single/authenticated addresses only to avoid individuals using Whirpool type tumblers and in effect masking their crypto transactions.

During the run-up to the BTC ETF Approval there was some news doing the rounds via bush telegraph similar to the ETF leak that companies aiding individuals to tumble their BTC/Crypto holding would face extreme penalties.

This is bolstered the use case for Monero as the privacy coin which has usurped Bitcoin's claim in that respect. This is why many individuals use Decentralised Exchanges which facilitate anonymous swapping from BTC to Monero. The cost is generally "high" whatever that means to an individual since one has to weigh the lost opportunity cost of privacy vs cost of acquisition in order to make an informed decision.

Whether or not they're complying and doing as might be required in the background whilst pretending aloof to your requirements that they send to your dynamic Segwit addresses OR they're actually simply incompetent is conjecture until further facts are established & further dataset to interrogate.

I will also withdraw via Crypto from them but my processes so far as trading & accumulating profits are an extremely slow boat to China so waiting for my withdrawals & data would be counterintuitive to this exercise. My first withdrawal will likely be soonest by around October or November.

Thank You.
My success is due to The Great Napoleon Hill. May His Name Live Forever
  • #29,193
  • Feb 4, 2024 8:43am Feb 4, 2024 8:43am
Quoting Nsak3y
{quote}-Technically, they could still fake things by sending funds to their own wallets. It would actually probably make it easier to fake payouts.
True but not easier. IMO Now it's easy because they just need to produce a certificate.
Rize probably charges some commission (yes, that could be considered marketing cost) but there may be tax stuff involved, depending if the jurisdiction is more or less benefic.
Furthermore the influencers that receive big payouts will need to show all those big payouts, which makes it more difficult to fabricate things.
  • #29,194
  • Feb 4, 2024 8:47am Feb 4, 2024 8:47am
Quoting Desbinary
{quote} Hello Capablanca; I trust you are well. Your Excel workbook reference is indeed a worthwhile suggestion for individuals who don't wish to purchase Out The Box Software such as some Traders have suggested. If I may enquire, does your Excel Workbook require manually updating the data into the respective worksheets or have you created hyperlinked and macro driven, Boolean logic-based formulas in order to ensure automated updating? Should you have deployed the latter it is great & if you find it within yourself perhaps sharing the File with...
I just enter things manually in a simple excel file. It's not that much work / entries and doesn't justify neither any complicated things, formulas or marcos, nor automatic integration with anything. It's the most rudimentar thing one can imagine. Enough for myself to know how many challenges and payouts I had and how much money I paid and received, per prop.
  • #29,195
  • Feb 4, 2024 8:53am Feb 4, 2024 8:53am
Quoting Desbinary
{quote} Hello again Capablanca; Thanks for your update wrt FXIFY and their payment protocols. Whilst your suppositions are not at all illogical there is another spin to the scenario concerning them using the "existing/old" address. That is, a little while ago Regulatory oversight bodies were supposedly beginning to roll out requirements that payments such as these be made to single/authenticated addresses only to avoid individuals using Whirpool type tumblers and in effect masking their crypto transactions. During the run-up to the BTC ETF Approval...

I would accept if they told me this was a regulatory thing. But in one of the payouts they noticed the new address and sent it there. In all the others they just sent to the initial address, ignoring that I had provided a new address.

I'm tempted to say that this is careless of back office and not anything regulatory.
  • #29,196
  • Feb 4, 2024 8:53am Feb 4, 2024 8:53am
Quoting Capablanca
{quote} WTF ?! Why could be that ? To avoid jail ?
I don’t know. I know there are multiple people with 6 figure payments pending. I doubt they will get paid
  • #29,197
  • Feb 4, 2024 8:55am Feb 4, 2024 8:55am
Quoting Capablanca
{quote} I just enter things manually in a simple excel file. It's not that much work / entries and doesn't justify neither any complicated things, formulas or marcos, nor automatic integration with anything. It's the most rudimentar thing one can imagine. Enough for myself to know how many challenges and payouts I had and how much money I paid and received, per prop.
Thank You for your feedback Capablanca. I agree with you however I am certain you're aware I enquired for the benefit of likely helping those who don't have that rudimentary understanding of Excel functionality.

For them, if an open source template is available which extracts & plugs in the raw data into their workbook it would help them with a plug & play solution which serves the purpose of crunching the data for them whilst eliminating typos causing formula errors.

Thanks again all the same for replying, much appreciated.
Des
My success is due to The Great Napoleon Hill. May His Name Live Forever
  • #29,198
  • Feb 4, 2024 9:04am Feb 4, 2024 9:04am
Quoting Capablanca
{quote} I would accept if they told me this was a regulatory thing. But in one of the payouts they noticed the new address and sent it there. In all the others they just sent to the initial address, ignoring that I had provided a new address. I'm tempted to say that this is careless of back office and not anything regulatory.
Sure Capablanca;

I tend to agree with you since I am also optimistic it's simply incompetence on their part. We should bear in mind whilst your & my jurisdictions render us comfortable with them disclosing they're doing it to "comply" it will certainly spook others who are in within jurisdictions which are taking a hard line & even threatening the service provider with censure for aiding BTC tumbler & Whirpool transactions.

The rumours were that even if a service provider pays to known Whirlpool addresses eg. Samourai etc. which run within TOR Environment, they would be hauled over the coals for facilitating such transactions. We know where most of the Crypto is headed after processed through TOR.

Appreciate your insight all the same, always helpful and offers numerous layers for consideration.
My success is due to The Great Napoleon Hill. May His Name Live Forever
  • #29,199
  • Feb 4, 2024 9:18am Feb 4, 2024 9:18am
Quoting Desbinary
{quote} Thank You for your feedback Capablanca. I agree with you however I am certain you're aware I enquired for the benefit of likely helping those who don't have that rudimentary understanding of Excel functionality. For them, if an open source template is available which extracts & plugs in the raw data into their workbook it would help them with a plug & play solution which serves the purpose of crunching the data for them whilst eliminating typos causing formula errors. Thanks again all the same for replying, much appreciated. Des
My file is not much more sophisticated than something like this:
Attached Image (click to enlarge)
Click to Enlarge Name: Table.PNG Size: 5 KB
  • #29,200
  • Feb 4, 2024 9:27am Feb 4, 2024 9:27am
Quoting Trader191
{quote} so all together you did make loss until now! because you did win less against what you need for pay your fix costs each month over last months? and same time lost time to invest in prop and could not work in this time , so lost this opportunity costs of many month work payment maybe of many thousands? so you hope in future you will not lose anymore and get the lost money back and get a winner on the end?
I do not know why people getting into loss/profit situation of Individuals.

I fail to understand. What is your gain or what you are going to learn in knowing Monty's profit/loss calculations.
Intraday only.
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