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  • #30,821
  • Feb 16, 2024 4:18pm Feb 16, 2024 4:18pm
This is 100% about keeping $ inside the US and not allowing US citizens to do what they want where they want with their money. The US is constantly being separated off from the rest of the world. This is how things are done when a snake squeezes the life out of its prey.

US citizens, please pm me if you're interested in class action lawsuit information against the US regulators.
  • #30,822
  • Feb 16, 2024 4:40pm Feb 16, 2024 4:40pm
Quoting CashBox
This is 100% about keeping $ inside the US and not allowing US citizens to do what they want where they want with their money. The US is constantly being separated off from the rest of the world. This is how things are done when a snake squeezes the life out of its prey. US citizens, please pm me if you're interested in class action lawsuit information against the US regulators.
Whats the subject of the class action.
  • #30,823
  • Feb 16, 2024 5:55pm Feb 16, 2024 5:55pm
Quoting CashBox
US citizens, please pm me if you're interested in class action lawsuit information against the US regulators.
-Why PM? What do you hope to keep private?

I would be willing to get behind a massive change.org campaign that could be blasted off to hundreds of politicians at once, but it would need to be carefully written by someone that can speak from a position of great understanding, not just from the technical and legal side, but from the trader's perspective as well; perhaps even a joint endeavor would be necessary.

Not ignoring the probability that such petitions likely only reach gatekeepers and are automatically filtered and/or deleted 9 times out of 10 etc., but doing something is better than doing nothing.

I would not be opposed to some class-action suit, depending on what was required of me. Although, I do think that legislative change is what is really needed. I would also be willing to write a physical letter to various, elected officials.

I think that any letter should not give attention to what is happening with remote props, but instead, focus on the general, overall problem that traders currently face as a result of over-reaching regulation.

We are losing out on opportunities and the freedom to invest our own money, where we see fit. Innovation and jobs are being pushed overseas. At the very least, we need to be able to opt-out of these so-called protections that have turned us into the pariahs of the trading world. Enough is enough. There should be no legitimate reason to not consider a formal opt-out waiver.
  • #30,824
  • Feb 16, 2024 5:57pm Feb 16, 2024 5:57pm
Quoting AaronPriest
Not for US citizens it isn't.
-I suspect that Mr. Isoara feeds off of our tears.
  • #30,825
  • Feb 16, 2024 7:04pm Feb 16, 2024 7:04pm
Quoting CashBox
This is 100% about keeping $ inside the US and not allowing US citizens to do what they want where they want with their money. The US is constantly being separated off from the rest of the world. This is how things are done when a snake squeezes the life out of its prey. US citizens, please pm me if you're interested in class action lawsuit information against the US regulators.

Class action is a road to infinity with the government. They have more money and time to make sure it goes nowhere.

Whats needed is congress to do their job for once and unravel the mess that has been made. But I have little time and major doubts that will happen before dirt hits my headstone.
Trade with confidence, trade without fear.
  • #30,826
  • Feb 16, 2024 8:45pm Feb 16, 2024 8:45pm
Quoting Cryptosurf
Class action is a road to infinity with the government. They have more money and time to make sure it goes nowhere. Whats needed is congress to do their job for once and unravel the mess that has been made. But I have little time and major doubts that will happen before dirt hits my headstone.
-While I suspect that you are probably correct, I feel that I would welcome any noise at this point, as subtle as it may be.

After all, if the government is willing to spend money to defend a class-action lawsuit, in lieu of providing a simple opt-out waiver, during a time when we cannot even afford to keep certain sectors of the government operational, then the elected officials that can actually invoke any real change are eventually going to have to answer to why they are allowing such nonsense. That would be my hope, anyway.
  • #30,827
  • Edited 11:41pm Feb 16, 2024 11:11pm | Edited 11:41pm
Quoting Nsak3y
{quote}-I suspect that Mr. Isoara feeds off of our tears.
No. For me it's a very good news. Now 5ers will not have problem with MT5. Now Takisd can send a letter to CFTC to complain about 5ers.
And US traders can change the residence.
  • #30,828
  • Feb 16, 2024 11:46pm Feb 16, 2024 11:46pm
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2024-02-17 054450.png Size: 53 KB

Another very good news.
  • #30,829
  • Feb 17, 2024 1:46am Feb 17, 2024 1:46am
Quoting CableJ
{quote} Yes trailing does completely suck, but at this point beggars can't be choosers lol. I pretty much calculated gamble the heavily discounted phase 1 @ 3 losses to bust risk, I lower the risk to 5 losses to bust upto the payout threshold, from there I significantly lower the risk to 10 losses = 40% of 5% total drawdown & compound from there.
Do you calculate the amount of those 3 losses dynamically ?

I mean, when you start the 50K challenge you may divide the 2.500 DD in 3, so each loss = 833 (if I understood what you said).

Then with the up and down in profit you may end up with 50.500 balance but only with 1500 DD. Now the 3 losses are just 500 each ?
  • #30,830
  • Feb 17, 2024 3:13am Feb 17, 2024 3:13am
Just to let you know that Blue is still paying. And this is my first payout through Rise (Riseworks) so let's see how it goes.

The money was credit in Rise about 36h after I requested the payout to Blue.

Now I made a small withdraw from Rise to a crypto self custody wallet to see if this goes well (I don't want to risk withdrawing all the money without testing so I know I will be wasting withdraw fees just for this test).

The process of withdrawing to crypto is very straight forward in Rise.

We just register the address of the wallet. Tthey allow USDT or USDC in ETH network or USDT/USDC in Arbitrum (I don't know what Arbitrum is). I chose ETH network as I'm used to it, despite it's expensive.

After registering the address we just click in withdraw and select the amount and wallet we just created and that's it (some emails to aprove and so on).

They say it's processed in the next business day so let's see if I get this small withdraw on Monday. If this goes well it's prety simple. Cross fingers.

For withdraw they charged 2.50 for platform fee and 5 for withdraw fee. I think the 5 will depends on the gas fees at the moment. It's pretty expensive knowing that when I did it the gas fees were about 16 gwei.
Anyway, we know that we will always be overcharged yptos (I remember that TFF charged more than 100 for a 3000 withdraw when gas fee was something like 2 or 3 USD).

Rise also allow to withdraw directly to a coinbase account or through bank wire but I have not explored those options. I prefer self custody.

I'll keep you posted on Monday.
  • #30,831
  • Feb 17, 2024 3:40am Feb 17, 2024 3:40am
Quoting Tim_isoara
{quote} No. For me it's a very good news. Now 5ers will not have problem with MT5. Now Takisd can send a letter to CFTC to complain about 5ers. And US traders can change the residence.
what makes you think I didn’t do that long ago child?
  • #30,832
  • Feb 17, 2024 4:08am Feb 17, 2024 4:08am
Quoting Takisd
{quote} what makes you think I didn’t do that long ago child?
I know that you, very very old man, make complain about all prop firm. And...just MFF have problem after your complain.
Again you was more than 90% wrong. I know that you are hater, because you can't trade...so you hate prop firm industry and traders.
Why you don't learn to trade? After you will be happy. Lux trading firm,a very good prop firm, can teach you to trade. Good luck.
  • #30,833
  • Feb 17, 2024 4:31am Feb 17, 2024 4:31am
Does anyone know what is the exact problem between MT and the US? does the US sanction MT due to its Rus background or vice versa? if yes, then why now? not in 2022 when Ukr war happens? and aren't brokers such as Oanda, FCXM or IC affected too? cause it seems that they're all fine. And a final thing, does this trend continue to spread to other nations in the West or even the globe? leading to all probs eventually only having DXtrade or other options besides MT on their platforms?
  • #30,834
  • Edited 5:14am Feb 17, 2024 4:36am | Edited 5:14am
Quoting Tim_isoara
{image} Another very good news.
Very good news indeed. Here is a quote from the website of german attorney Manfred Wehrmann in Hannover:

" I don't hear good things about True Forex Funds (trueforexfunds.com).Due to the experiences of an investor who contacted my law firm, True Forex Funds makes me suspicious and there are signs of serious fraud.

Update from 02.01.2024: Huge success for my law firm and for my client! Through close cooperation with the investigating authorities and through a detailed blockchain analysis, which I offer as part of my legal services, 70,000.00 euros worth of Bitcoins (BTC) were recovered!".

Directly from the TTF website:
"1.1.
This TFF Agreement regulates your rights and obligations related to the use of the Services provided by either TFF International Kft, headquartered at Móricz Zsigmond rakpart 1/B. fszt. 14., 9022 Győr, Hungary (company registration number: 08 09 034894), and/or CEC CyberEvent & Challenge FZCO, located at Dubai Silicon Oasis, IFZA Business Park, DDP, Unit 34111-001 in Dubai, United Arab Emirates (company registration number DSO-FZCO-32098) and/or True Forex Funds Ltd, with company number 2023/C0145, license no: 2023/C0010-0011, offices at 40 Kennedy Avenue, Roseau, Dominica, licensed and regulated by the Financial Services Unit in accordance and Pursuant to Schedule III, Part 7, of the Financial Services Unit Act, No 18 of 2008 and the Companies Act No 221 of 1994."

I would like to think that there is a reason for these sorts of legal acrobatics. But then again, i might be completely wrong of course. In any case, good luck to those who cant wait for this grand reopening.
  • #30,835
  • Edited 5:01am Feb 17, 2024 4:42am | Edited 5:01am
Quoting Capablanca
{quote} Do you calculate the amount of those 3 losses dynamically ? I mean, when you start the 50K challenge you may divide the 2.500 DD in 3, so each loss = 833 (if I understood what you said). Then with the up and down in profit you may end up with 50.500 balance but only with 1500 DD. Now the 3 losses are just 500 each ?
I leave a little buffer in DD. lets say $400-500, So $2100 / 3. I don't use breakevens so every trade is either a guaranteed gain or loss. I will also monitor the trailing DD bal and scale down risk slightly on trade 2+3 as needed to guarantee 2 more losses. You could also go with 2500 / 4 risk per trade with the understanding that realistically you will only be able to get 3 losses in with trailing eating up the 4th.
  • #30,836
  • Feb 17, 2024 4:43am Feb 17, 2024 4:43am
Quoting SirMcPip
{quote} Very good news indeed. Here is a quote from the website of german attorney Manfred Wehrmann in Hannover: " I don't hear good things about True Forex Funds (trueforexfunds.com).Due to the experiences of an investor who contacted my law firm, True Forex Funds makes me suspicious and there are signs os serious fraud. Update from 02.01.2024: Huge success for my law firm and for my client! Through close cooperation with the investigating authorities and through a detailed blockchain analysis, which I offer as part of my legal services, 70,000.00...
For me TFF is a good prop firm. I make profit they pay. Good service client. And put a link abou that case. I didn't find nothing about Manfred Wehrmann vs TFF
  • #30,837
  • Feb 17, 2024 5:04am Feb 17, 2024 5:04am
Quoting CableJ
You could also go with 2500 / 4 risk per trade with the understanding that realistically you will only be able to get 3 losses in with trailing eating up the 4th.
OK, this answers my question. Makes sense.
  • #30,838
  • Edited 5:36am Feb 17, 2024 5:25am | Edited 5:36am
Quoting Tim_isoara
{quote} For me TFF is a good prop firm. I make profit they pay. Good service client. And put a link abou that case. I didn't find nothing about Manfred Wehrmann vs TFF
I have to make one little correction to my post. He posted this on the website anwalt.de, which is a reputable legal portal in Germany, non-governmental though. When searching for his credentials, among other things i checked out his own website as well of course mixed up the 2 websites in the process. In any case, it would be pretty reasonable to state that an attorney of his reputation would not post any bogus claims...in comparison to the deep well of prop firm bucket shops out there. On top of that, he is an attorney specialized in investment fraud, not exclusively though. Seems to be good business. So here is the link:

https://www.anwalt.de/rechtstipps/er...ng-210832.html


P.S. Here is his own website: https://wehrmann.legal/

P.P.S. This is his website exclusively dealing with investment scams: https://anlagebetrug.de/
  • #30,839
  • Feb 17, 2024 5:29am Feb 17, 2024 5:29am
Quoting Tim_isoara
{quote} To pay $275 per month??? for 100k account...
50% discount at the moment, the voucher-code is FEB50.

$50k account is currently $82.50 - not so terrible?
  • #30,840
  • Edited 6:07am Feb 17, 2024 5:31am | Edited 6:07am
If things settle down in FX prop land with most deploying DXTrade, trade coping will go out the window until they add compatibility with the platform. So trading each account 1 at time to a small target locking in the payout then switching to the next account repeating the process across accounts will probably be the only way to trade multiple accounts & various props.
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