Have a great evening.
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prop firm new model - my trading journey 871 replies
Anyone trading with a Prop firm 2 replies
So I accepted a Prop Trading job in South Beach Miami 43 replies
Disliked{quote} I had a funded there. Pretty normal spreads, commissions and execution. Payout (and refund) had somes bumps to setup but nothing unusual. I didn't like them because to receive the funded credentials we are obliged to fill in a form and produce a short video of our impressions during challenge phase, which can be used in social media (and there is no way to opt out from that in the form, only contacting afterwards customer service). We also have to tell them which other props we use which is none of their business. However, they are in the...Ignored
Disliked{quote} its a civil case, as lord Karl pointed out. No jail time is on the table. Its just monetary. The one thing that people may have skipped over (or not been exposed to) is that the jurisdiction argument is now back on the table.Ignored
Disliked{quote} Only the ones they regulate. They have no jurisdiction to fine businesses like MFF that they don’t regulate! What is wrong with you? Honestly the level of understanding of what’s happening here is about ZERO.Ignored
Disliked{quote} This is how regulatory systems work (in the US, just as in other countries): regulators can only impose fines on businesses they regulate. The CFTC does not regulate MFF and never did. They do not, therefore, have the jurisdiction to fine them, as you and others here keep wrongly saying and "discussing". Only a COURT can fine them (and/or exercise any other sanctions or penalties against them). CFD funding companies don’t at the moment need, by law, to be regulated at all, and that ridiculous anomaly underlies the whole problem, here. Honestly...Ignored
DislikedCFD funding companies don’t at the moment need, by law, to be regulated at all, and that ridiculous anomaly underlies the whole problem, here.Ignored
Dislikedregulators can only impose fines on businesses they regulate. The CFTC does not regulate MFF and never did. They do not, therefore, have the jurisdiction to fine them, as you and others here keep wrongly saying and "discussing". Only a COURT can fine them (and/or exercise any other sanctions or penalties against them).Ignored
Disliked{quote} It sometimes seems to me that about half the people here don’t actually think that’s an anomoly at all, lol. Scary and weird, I know, but some of them actually think (or at least pretend to) that it’s a good thing that businesses of this kind are not legally required to be regulated. {quote} This one they do already know, I think (I mean, surely?!). They just sometimes choose to ignore it because it obviously doesn’t fit in with their prejudices. {quote} You got that part right!Ignored
Disliked{quote} It's not they don't need to be regulated....Europe, the UK, Australia all do a great job. I would trade with any of their regulated entities immediately.....oh, but I can't, I'm from the USA, and in the name of protecting me, I cannot use THOSE regulated brokers, although far superior than USA regulation. Make sense yet? Noone can tell me and actually believe with 100% conviction anything other than the SOLE purpose of the CFTC is to "protect" the US futures market. It is so crystal clear with every move they make and every action they take....Ignored
Disliked{quote} Can't fine them, but somehow have the jurisdiction to freeze their assets and shut them down.Ignored
Disliked{quote} Can't fine them, but somehow have the jurisdiction to freeze their assets and shut them down.Ignored
Disliked{quote} You say that (and I agree with you) but some people here actually believe that they shouldn’t be regulated at all, and they say so openly. And they’re ridiculously misguided in that belief. {quote} The UK and Australia, yes. Most countries in Europe, yes (there are exceptions, for example Bulgaria and Cyprus). Nobody (that I can see) is arguing with you about how bad the CFTC is. You need and deserve much better regulation than you have: you and I have never disagreed about that. {quote} No. Again that’s just wrong. Only a COURT can do that....Ignored
DislikedMost countries in Europe, yes (there are exceptions, for example Bulgaria and Cyprus).Ignored
DislikedThis is how regulatory systems work (in the US, just as in other countries): regulators can only impose fines on businesses they regulate. The CFTC does not regulate MFF and never did. They do not, therefore, have the jurisdiction to fine them, as you and others here keep wrongly saying and "discussing".Ignored
Disliked{quote} You say that (and I agree with you) but some people here actually believe that they shouldn’t be regulated at all, and they say so openly. And they’re ridiculously misguided in that belief. {quote} The UK and Australia, yes. Most countries in Europe, yes (there are exceptions, for example Bulgaria and Cyprus). Nobody (that I can see) is arguing with you about how bad the CFTC is. You need and deserve much better regulation than you have: you and I have never disagreed about that. {quote} No. Again that’s just wrong. Only a COURT can do that....Ignored
Disliked{quote}-You are wrong. Just stop. The CFTC can impose fines, even against a Canadian business (which MFF was), for violations of the Commodity Exchange Act and related regulations, even if the business is not located within the United States. The CFTC has the authority to enforce regulations against foreign entities that engage in activities that have a substantial connection to the US, such as offering commodity trading services to US citizens (which MFF did). Typically, there is an investigation into alleged violations, followed by enforcement...Ignored