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  • #29,861
  • Feb 9, 2024 10:44am Feb 9, 2024 10:44am
Prop firm industry will not lose out on the US Clients. Its just a matter of time. They make the most money out of US since we have the most DREAMERS here who want to make a lot of money overnight.

US Basically feed's a good percentage of prop firms !
Drawdown is more important than Account Size !
  • #29,862
  • Feb 9, 2024 10:51am Feb 9, 2024 10:51am
Quoting Takisd
If I am an american (other than my degenerate friend Expo) I would suggest not buying a prop account until things are a bit more clear.
relocate to offshore broker jurisdictions + own servers + dx trade/trade locker platform + crypto payment processors... possible battle plan?
  • #29,863
  • Feb 9, 2024 10:54am Feb 9, 2024 10:54am
Quoting Takisd
If I am an american (other than my degenerate friend Expo) I would suggest not buying a prop account until things are a bit more clear.
Expo won't have a problem in buying. He will start phase 1 at 7 am, completes phase 2 before lunch time will blow the funded account or be millionaire by the end of the day.
---
Now, seriously, I think most of the props are sh*ting their pants in having US people on board. And anyone should be worried about the other ones that welcome americans.

For now US people better to start learning to trade future with trailing stop.
  • #29,864
  • Feb 9, 2024 10:55am Feb 9, 2024 10:55am
Good thing I didn't start my plan to take challenges with 10-15 funding companies similar to Monty... there is lot's of US, FXPX, Purple/Blueberry/Thinkmarkets/8cap exposure in that 10-15 group.
  • #29,865
  • Feb 9, 2024 10:58am Feb 9, 2024 10:58am
Quoting CableJ
{quote} relocate to offshore broker jurisdictions + own servers + dx trade/trade locker platform + crypto payment processors... possible battle plan?
Its not a guarantee. Remember, 1Broker.com wasn't on US soil, but was still seized, shuttered and sued out of existence.
Trade with confidence, trade without fear.
  • #29,866
  • Feb 9, 2024 10:59am Feb 9, 2024 10:59am
Quoting pipmaster77
{quote} properly managed 500:1 simply reduces the unprotected margin you must deposit at a broker. Example, i wish to trade 1 lot of gbpusd with a 30 pip stop.......i am risking $300 in us, i must put up $5,000(unprotected) in margin to execute this trade or i can place $100 each at 5 500:1 brokers and execute .2 lot at each now you tell me, which is better risk mitigation? You pro-regulation folks need to stop with the blanket assumption that nobody knows how to manage leverage and risk and we must all be "protected" from it......it's complete...
good analysis
i still need lot more understanding about leverage
i want to work in more secured enviroment where leverage might by just 1:10 only
but there is full security of funds, without any govt. Issues
  • #29,867
  • Feb 9, 2024 11:01am Feb 9, 2024 11:01am
Quoting CableJ
The US funding companies are pretty much done if they're forced by the brokers to ban US residents regardless of meta/ctrader/dxtrade being offered. They make the investments to act as their own broker with their own servers like ftmo/tff/mff and here comes the CFTC.
-You are probably right.

Although, even if a firm can find a way to hook into a feed using some kind of custom software that can manage accounts/draw-down and integrate into their dashboard etc., then the CFTC should not have anything to do with that, since nothing is real.

You could start a company that handles everything in-house, using paper trading based on trading view charts, and the CFTC can do nothing about it. It just doesn't make sense to me. And although the MFF case could help to bring clarity on the matter, I suspect that it won't, and that the CFTC will get what they want in the form of taking down all of these remote props.
  • #29,868
  • Edited 11:12am Feb 9, 2024 11:01am | Edited 11:12am
Quoting Capablanca
{quote} I think most of the props are sh*ting their pants in having US people on board. And anyone should be worried about the other ones that welcome americans. For now US people better to start learning to trade future with trailing stop.
I'm fully prepared to survive with 5 offshore broker accounts + personal futures accounts @ AMP & TDA + Futures funding accounts @ Apex & Bulenox... but this fallout is still really sad & stings, however we knew this day was eventually coming.
  • #29,869
  • Feb 9, 2024 11:02am Feb 9, 2024 11:02am
Last friday also E8 says that "Mandatory Position Closing"
today again they said "Mandatory Position Closing"

8cap giving no issues with which people had lots of problem in the past
people were against 8cap, they were saying 8CRAP
but nowdays, problem coming from purple side

both e8 and funded engineer use purple as their broker
  • #29,870
  • Feb 9, 2024 11:05am Feb 9, 2024 11:05am
Quoting CableJ
relocate to offshore broker jurisdictions + own servers + dx trade/trade locker platform + crypto payment processors... possible battle plan?
-I believe that this is probably the direction that things need to take.
  • #29,871
  • Feb 9, 2024 11:09am Feb 9, 2024 11:09am
Blueberry is done as well for US, its not just purple. Given the hubbub thats going on, I wouldn't be surprised if there is an influx in regulatory complaints coming from consumers now in many jurisdictions. Its the last thing people want as the action will be worse.
  • #29,872
  • Feb 9, 2024 11:10am Feb 9, 2024 11:10am
FTMO banned not just US, but India as well.
On the other hand most of the prop firms targetting India, Pakistan countries like that because people from these countries don't know that much how to make money in trading and they lose more, but on the other hand US consists of people who are more minded and who are into trading from a very long and US people want to make rich quick, most of the flipping account videos $100 to $100K are from US youtubers and traders.
I am not intended to say anything bad about any country but this is what i have noticed.
  • #29,873
  • Feb 9, 2024 11:13am Feb 9, 2024 11:13am
Quoting genuine007
FTMO banned not just US, but India as well. On the other hand most of the prop firms targetting India, Pakistan countries like that because people from these countries don't know that much how to make money in trading and they lose more, but on the other hand US consists of people who are more minded and who are into trading from a very long and US people want to make rich quick, most of the flipping account videos $100 to $100K are from US youtubers and traders. I am not intended to say anything bad about any country but this is what i have noticed....
nah nah its other way around pakistan, india , vietnam etc they banned them usually because of prohibited activities…
and its not worth their while to invest to take out bad apples so they banned them whole coz no value in return
Extreme gut feeling trader
  • #29,874
  • Feb 9, 2024 11:16am Feb 9, 2024 11:16am
Quoting Takisd
Blueberry is done as well for US, its not just purple. Given the hubbub thats going on, I wouldn't be surprised if there is an influx in regulatory complaints coming from consumers now in many jurisdictions. Its the last thing people want as the action will be worse.
Any word on thinkmarkets & 8cap?
  • #29,875
  • Feb 9, 2024 11:17am Feb 9, 2024 11:17am
Quoting pipmaster77
Now you tell me, which is better risk mitigation?

I’m not disputing that at all.

I was simply stating, factually, that many complaints have been made to regulators over the last couple of years about Black Bull Markets, and that many rather naïve customers imagined that because they were opening an account with a "broker" whose website claims that they’re regulated in New Zealand, that those customers’ own accounts would be regulated there (in spite of having 1:500 leverage!).

Again it’s just factual - there’s really no need to start an argument about it.

This is a "broker" notorious for deceiving new customers about how and where they're regulated. Sorry if it upsets you, old chap, but (unlike most of what you post yourself) it isn't opinion: it's FACTUAL. There is a difference between the two, you know?
  • #29,876
  • Feb 9, 2024 11:17am Feb 9, 2024 11:17am
Quoting CableJ
{quote} I'm fully prepared to survive with 5 offshore broker accounts + personal futures accounts @ AMP & TDA + Futures funding accounts @ Apex & Bulenox... but this fallout is still really sad & stings, however we knew this day was eventually coming.
I am as well. However, are you concerend regarding Metaquotes pulling the licenses of the offshores we use? Or just assuming they will migrate to another platform?
  • #29,877
  • Feb 9, 2024 11:18am Feb 9, 2024 11:18am
Quoting CableJ
Good thing I didn't start my plan to take challenges with 10-15 funding companies similar to Monty... there is lot's of US, FXPX, Purple/Blueberry/Thinkmarkets/8cap exposure in that 10-15 group.
yep dangerous times… but i guess there is some positivity out of this situation is decent prop firms are not folding yet… lets see how it goes… eagerly watching tff and engineer
atleast my beloved myflashfunding is safe .. thats what seann said and i believe him he is my savior coz today is payout date
Extreme gut feeling trader
  • #29,878
  • Feb 9, 2024 11:25am Feb 9, 2024 11:25am
Quoting pipmaster77
{quote} I am as well. However, are you concerend regarding Metaquotes pulling the licenses of the offshores we use? Or just assuming they will migrate to another platform?
100% concerned... it's a discussion some of us here have been having on the offshore thread elsewhere. I'm hoping the established offshore brokers that took the FTMO step with new US customers will keep their licenses.
  • #29,879
  • Feb 9, 2024 11:25am Feb 9, 2024 11:25am
So it looks like MetaQuotes have a general, serious problem with PurpleTrading. PurpleTrading have then decided to say that everyone involved in prop is in trouble, even though other brokers have apparently had no such contact from MetaQuotes, causing lots of rumour, panic and uncertainty.

It seems like it's MetaQuotes's 6 monthly rampage where they destroy some brokers / firms.

The industry is going to no doubt look at diversity in platforms as the US is such a traffic source and the risk MQ may settle on no-US, but everyone else is fine.

Quoting genuine007
FTMO banned not just US, but India as well. On the other hand most of the prop firms targetting India, Pakistan countries like that because people from these countries don't know that much how to make money in trading and they lose more, but on the other hand US consists of people who are more minded and who are into trading from a very long and US people want to make rich quick, most of the flipping account videos $100 to $100K are from US youtubers and traders. I am not intended to say anything bad about any country but this is what i have noticed....
FTMO were placed on the equivalent of the CFTC's 'red list' in India. Although so were IG Index, a FTSE250 company, so that shows what a load of shit that is.

Plus India, Pakistan, Vietnam and others have a lot of fraud traffic and risk (as they do traditional brokerage), so may not be worth the hassle. Getting money in and out of India related to FX is really hard.
  • #29,880
  • Feb 9, 2024 11:34am Feb 9, 2024 11:34am
Quoting montygoldy
{quote} yep dangerous times… but i guess there is some positivity out of this situation is decent prop firms are not folding yet… lets see how it goes… eagerly watching tff and engineer atleast my beloved myflashfunding is safe .. thats what seann said and i believe him he is my savior coz today is payout date
So today is the big day ? Is that still the 28K or something like that ?
Keep us posted mate !
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