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  • #33,581
  • Mar 28, 2024 1:57pm Mar 28, 2024 1:57pm
Also let me know who is gonna hire the fired risk managers and payout managers from Angelo...
  • #33,582
  • Mar 28, 2024 1:59pm Mar 28, 2024 1:59pm
Easton Joke...
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  • #33,583
  • Mar 28, 2024 2:04pm Mar 28, 2024 2:04pm
Quoting TrAndy1
Also let me know who is gonna hire the fired risk managers and payout managers from Angelo...
I will miss their Payout Specialist (sounds an important thing).

I remember having to deal with him for more than 10 emails until he realized that I was right and should be scaled. The guy was dumber than an hairdryer.
  • #33,584
  • Mar 28, 2024 2:10pm Mar 28, 2024 2:10pm
Quoting TrAndy1
Easton Joke...{image}
The blurred out name is FPFX JUST SO THAT EVERYONE REMEMBERS THE NAME.
  • #33,585
  • Mar 28, 2024 2:19pm Mar 28, 2024 2:19pm
seeing the dispute NOW it is "tolerable"...at least he had good intentions. But if someone accidentally got "killed" (by not able to feed his family on missed payouts...)...
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Angelo is the really bad guy not communicating all his ongoing shit to anyone, maybe except his escorts, but bad luck, they also had no idea, how it goes..
  • #33,586
  • Mar 28, 2024 2:29pm Mar 28, 2024 2:29pm
That Riz felt guilty at least to give a 40+ minute statement on youtube says a lot. He has a bad mind now and is regretting a lot. It could be also 3 hour video, would be interesting too see rise and fall of TFT and people around. Also he could write a book about it, a bestseller for sure. And another million banked here (for him). I do not feel so sorry for him that he went with the wrong people. When you are in, you cannot say you have ZERO responsibility. It is very difficult for him now.
  • #33,587
  • Mar 28, 2024 2:36pm Mar 28, 2024 2:36pm
Quoting Ferna
If anyone could sum it up with a chart how bad prop firm situation is. Then put overlay with number of denied payments, and number of trusted firms vs untrusted as share of market sector. Is the Maga people negative to CFTC and positive to trading? Any news on that? I saw Powell got some interesting questions during hearing. It’s all tied together. Better see opportunity than to point out faults, the blame game keeps things the same.
Props are fine just go with ones who don't accept US. If you are in US expect noise, changes, problems.

Match trader and DXTrader failing miserably (because they are shit) Ctrader doesn't accept US. The firms remaining which accept US are bad ones.
  • #33,588
  • Mar 28, 2024 2:55pm Mar 28, 2024 2:55pm
Quoting Ferna
{quote} Oh! Thank you. Well what happens in U.S eventually spreads to the rest of the world, so it’s good to keep U.S in good shape. Any hope for political intervention?
Then you need to vote for Republicans in November. Trump has already signalized in the past he will do a lot for more freedom in the financial system. What it means to prop directly I do not know as he is impulsive too. But as a businessman he welcomes any additional business and will ease limitations as much as possible. Maybe you are only allowed to do it with US retail props then, even they are only FX props. So all the money and business stays in the US, that is what he wants with his tariffs to China next year, if he will win. I do not know.
  • #33,589
  • Mar 28, 2024 2:58pm Mar 28, 2024 2:58pm
Quoting Ferna
{quote} Oh! Thank you. Well what happens in U.S eventually spreads to the rest of the world, so it’s good to keep U.S in good shape. Any hope for political intervention?
Do you want a serious answer - given I am not a Maga person but hate gov overreach (CFTC).

EU will regulate.
CMNV wants a ban. Belgium wants a ban.
MIFID II makes the business model impossible under EU licensing unless some miracle traders appeared which we know dont exist.
Asia - nothing to report
UAE - nothing to report
Offshore jurisdictions, some have caught onto it and decide simply not to accept.
Canada - ticking time bomb.
CFTC - possible entry based on MFF result. Easton tech may result in industry wide ban however.
  • #33,590
  • Mar 28, 2024 3:08pm Mar 28, 2024 3:08pm
Quoting Takisd
{quote} Do you want a serious answer - given I am not a Maga person but hate gov overreach (CFTC). EU will regulate. CMNV wants a ban. Belgium wants a ban. MIFID II makes the business model impossible under EU licensing unless some miracle traders appeared which we know dont exist. Asia - nothing to report UAE - nothing to report Offshore jurisdictions, some have caught onto it and decide simply not to accept. Canada - ticking time bomb. CFTC - possible entry based on MFF result. Easton tech may result in industry wide ban however.
If you trade primarily indices, just trade futures.......they move exactly the same. Never thought I'd actually be saying those words, but man, way less stress and headaches.
Every government is going to regulate the retailer out of forex.....might as well adapt now.
  • #33,591
  • Mar 28, 2024 3:18pm Mar 28, 2024 3:18pm
Quoting pipmaster77
{quote} If you trade primarily indices, just trade futures.......they move exactly the same. Never thought I'd actually be saying those words, but man, way less stress and headaches. Every government is going to regulate the retailer out of forex.....might as well adapt now.
It is true they move the same as the price is virtually the same although CFDs calculations can be different. The one big difference is retail depth, but that goes away if you are successful anyway so it ends up being similar.
  • #33,592
  • Mar 28, 2024 3:34pm Mar 28, 2024 3:34pm
Quoting Ferna
{quote} Absolutely. This kind of info i very much appreciate, one can visualize it much better. Politicians are in copy & paste mode, they are just signing whatever comes to their table and ’trust the experts’. I’m not a ’maga hat’ either, but what can one do when there is running out of options.. gov reach too far when they start messing with peoples money. How you mean ’miracle traders’? Like making money on low leverage and less volatility?
Miracle traders are people who can actually make money Y/Y consistently without too much risk.

I do not fit into this category and I am fairly certain no one here does either. Thus an a-book only model is nonsense.
  • #33,593
  • Mar 28, 2024 3:47pm Mar 28, 2024 3:47pm
Quoting Takisd
{quote} The blurred out name is FPFX JUST SO THAT EVERYONE REMEMBERS THE NAME.
Hey don't forget your capital/bold text rule. They never missed any of my breaches.
  • #33,594
  • Mar 28, 2024 4:01pm Mar 28, 2024 4:01pm
Quoting pipmaster77
{quote} If you trade primarily indices, just trade futures.......they move exactly the same. Never thought I'd actually be saying those words, but man, way less stress and headaches. Every government is going to regulate the retailer out of forex.....might as well adapt now.
I've been messing with a couple of apex accounts past couple of weeks, using tradovate. Not bad, actually quite nice, plus indices pretty easy to trade at the moment. Forex prop offers still superior though with the right firm. Need to compile cheat sheet for forex props indices point value. I remember trading ftmo and mff back in the day, $30 down on one $3000 down on the other, haven't traded them since
  • #33,595
  • Mar 28, 2024 4:16pm Mar 28, 2024 4:16pm
Quoting pipmaster77
{quote} If you trade primarily indices, just trade futures.......they move exactly the same. Never thought I'd actually be saying those words, but man, way less stress and headaches. Every government is going to regulate the retailer out of forex.....might as well adapt now.
futures are fantastic. I’m about $500-$600 shy of passing my 20x$50k Apex challenges

edit: I thought I was going to have to re-learn everything with futures. But it’s almost the exact same as trading cfds
A snails pace wins the race :-)
  • #33,596
  • Mar 28, 2024 4:29pm Mar 28, 2024 4:29pm
Just in - MFF: CFTC-MFF case has been transfered to Camden [within New jersey Court district jurisdiction]. Looks like going to be assigned to a new judge.
  • #33,597
  • Mar 28, 2024 5:02pm Mar 28, 2024 5:02pm
Quoting Takisd
{quote} Do you want a serious answer - given I am not a Maga person but hate gov overreach (CFTC). EU will regulate. CMNV wants a ban. Belgium wants a ban. MIFID II makes the business model impossible under EU licensing unless some miracle traders appeared which we know dont exist. Asia - nothing to report UAE - nothing to report Offshore jurisdictions, some have caught onto it and decide simply not to accept. Canada - ticking time bomb. CFTC - possible entry based on MFF result. Easton tech may result in industry wide ban however.
Could you shine a light on what could possibly mean regulating the space when it comes to EU? Cutting leverage?
  • #33,598
  • Mar 28, 2024 5:10pm Mar 28, 2024 5:10pm
Quoting Tobiazzek
{quote} Could you shine a light on what could possibly mean regulating the space when it comes to EU? Cutting leverage?
EU already cut leverage back (IIRC) in 2017 for CFD firms.

MiFID 2 has been around ages, so not sure why it would have any impact now if it hasn't for the past 10 (?) years or so, unless some new part is coming online.

There needs to be new law to regulate props in UK / EU. FTMO have reached out to most regulators and had it confirmed there is no need regulatory requirement.
  • #33,599
  • Mar 28, 2024 5:32pm Mar 28, 2024 5:32pm
I was checking Kimmel artist in youtube to see if he had posted anything and I'm surprised to see that he has already gone to futures.

I believe futures will soon be totally populated with the same scammers influencers and 20 yrs old kids launching props from parents basement, supported by some shady FPFX tech oriented to futures.
  • #33,600
  • Mar 28, 2024 5:38pm Mar 28, 2024 5:38pm
Quoting PropDude1234
{quote}EU already cut leverage back (IIRC) in 2017 for CFD firms. MiFID 2 has been around ages, so not sure why it would have any impact now if it hasn't for the past 10 (?) years or so, unless some new part is coming online. There needs to be new law to regulate props in UK / EU. FTMO have reached out to most regulators and had it confirmed there is no need regulatory requirement.
Read up on the recent MIFID II adjustments - in particular pay attention to whats happening in cyprus.

CMNV has already banned advertising of eval firms. Belgium has started warning lists.

FTMO has a ticking time clock right now to figure out a regulatory environment that would not interrupt its business. Same as the other european firms which likely need not be mentioned.

Its going offshore. Offshore is ok so long as reputation is in tact and US isn't being solicited.
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