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  • #42,961
  • Oct 7, 2024 2:48am Oct 7, 2024 2:48am
Another FX/CFD Broker Launches Its Own Prop Firm amid Growing Popularity
Monday, 07/10/2024 | 09:43 GMT+2 by Damian Chmiel

  1. MarketsVox just announced the launch of MVFunded at the end of this month.
  2. This is another retail trading firm that has decided to take this step in 2024.

https://www.financemagnates.com/fore...ng-popularity/

  • #42,962
  • Oct 7, 2024 4:49am Oct 7, 2024 4:49am
Quoting TrAndy1
Another FX/CFD Broker Launches Its Own Prop Firm amid Growing Popularity Monday, 07/10/2024 | 09:43 GMT+2 by Damian Chmiel MarketsVox just announced the launch of MVFunded at the end of this month. This is another retail trading firm that has decided to take this step in 2024. https://www.financemagnates.com/fore...ng-popularity/
I gave it a personal rating of 3/7 (43%). Nothing new.
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #42,963
  • Oct 7, 2024 5:53am Oct 7, 2024 5:53am
Morning guys.
Can you pass Apex eval account in 1 day or is it 7 days now ?
Thank you
  • #42,964
  • Oct 7, 2024 6:34am Oct 7, 2024 6:34am
Quoting MoHoSK
Morning guys. Can you pass Apex eval account in 1 day or is it 7 days now ? Thank you
https://www.facebook.com/ApexTraderFundingInfo/
  • #42,965
  • Oct 7, 2024 6:36am Oct 7, 2024 6:36am
Quoting TrAndy1
Another FX/CFD Broker Launches Its Own Prop Firm amid Growing Popularity Monday, 07/10/2024 | 09:43 GMT+2 by Damian Chmiel MarketsVox just announced the launch of MVFunded at the end of this month. This is another retail trading firm that has decided to take this step in 2024. https://www.financemagnates.com/fore...ng-popularity/
Attached Image (click to enlarge)
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  • #42,966
  • Oct 7, 2024 6:38am Oct 7, 2024 6:38am
Quoting Takisd
My prop list for my personal project is as follows: 5ers e8 MFFX (as painful as that is) Maven (equally as painful) ICFunded I do not include FTMO . . ..
MFFX is actually the best in your list
  • #42,967
  • Oct 7, 2024 6:40am Oct 7, 2024 6:40am
I thought those who cannot trade will conduct courses. But it looks like those who cannot trade will continue their search for the besttest than best prop firm.
  • #42,968
  • Oct 7, 2024 6:53am Oct 7, 2024 6:53am
Quoting failinforex
{quote} MFFX is actually the best in your list
it is painful to give money to such a person and company. That is my point.
  • #42,969
  • Oct 7, 2024 7:01am Oct 7, 2024 7:01am
Quoting Takisd
{quote} it is painful to give money to such a person and company. That is my point.
oic, but it's a joy to milk them. their payout is much faster than Apex
  • #42,970
  • Oct 7, 2024 7:11am Oct 7, 2024 7:11am
Quoting failinforex
{quote} MFFX is actually the best in your list
their Trustpilot suggests otherwise , myfundedfutures is certainly OK

why you consider them the best of that list ?

https://www.trustpilot.com/review/my...ecency&stars=1
  • #42,971
  • Oct 7, 2024 7:19am Oct 7, 2024 7:19am
Quoting Stoneyrocks
{quote} their Trustpilot suggests otherwise , myfundedfutures is certainly OK why you consider them the best of that list ? https://www.trustpilot.com/review/my...ecency&stars=1
cos that's the only one i have. blown my ftmo; am still waiting for MFF to be reinstated in heaven;
I have never looked at trustpilot.
  • #42,972
  • Edited 4:04pm Oct 7, 2024 7:31am | Edited 4:04pm
Quoting navk
{quote} Tradeify account update : End of day equity on day 2 ( end of friday ) was 51220. Day 3 ( today ) profit : 600 $ Day 3 equity : 51820. Done for sunday / Monday. Now, I have to deal with FXIFY account only for the rest of the day.
A small update.

Yeah, I have done most of it in Asia itself, but then when I found price was attractive, i took long in MESZ and made little more.

Profit made today 1060

Equity as of now : 52280

End of day 3 for me.
Intraday only.
  • #42,973
  • Oct 7, 2024 8:41am Oct 7, 2024 8:41am
Hello,
Could someone do me a favor, summarizing this? I'm unable to get it completely.

Inserted Video
  • #42,974
  • Oct 7, 2024 8:55am Oct 7, 2024 8:55am
Quoting mcquak
Hello, Could someone do me a favor, summarizing this? I'm unable to get it completely. https://youtu.be/Gh6QAJgAqxA?si=OsXHfQ-hTgcHIHQE
I have downloaded a copy of this whole video.
Watch later when got time in full detail & make summarized notes.

Well let me tell you apex like trailing drawdown model based on highest equity reached unrealized is now being followed in forex prop firms as well.
There are new firms popping up in forex prop firms that follows the same. The only difference is they are still forex prop firms and not futures & free from those activation fees and monthly fees and data fees once you become funded.

Trailing Drawdown is bad until you make it lock. Once it gets locked, it will become same like absolute drawdown but you have to treat once its get locked like its a fresh account now and you have not traded before. But yeah Trailing Drawdown puts us in extra pressure and put lot of limitation that we can't yolo our trades and sit back relax. Absolute Drawdown is easy when compared to Trailing Drawdown. But I have seen people failing both. The reason is they are so much in hurry. Even in apex, futures, people wanna pass like in 1 days or 2 days. Trailing Drawdown requires lot of trade management and note down things and equity and other stuff.

When people were trading forex prop firms, they were in hurry saying that they wanna make as much as money possible before the forex prop firms goes out of the business. Forget about going, there are more coming everyday. Forex props don't want to give payout to those hurry traders who trade here and there taking like 50 trades in a row just want to see net profit at the day in trade terminal. Those traders are useless for the firm because they create mess in trades history and give no value to prop firm so as to help them in copy trading and data analysis. And then people create a fuss out of it that they deny their payout. Look at yourself, you give no value, no data, nothing to prop firm.

And even when people are trading FUTURES prop firms now like apex, they are still in hurry, why??
People are asking how to pass apex in like 1 day or within 7 days. OMG. When You have to make almost 2x the amount of trailing drawdown. LOL
People are in hurry no matter what, they just want some excuse to offset their FOMO & FEAR & GREED.
  • #42,975
  • Oct 7, 2024 9:10am Oct 7, 2024 9:10am
Quoting mcquak
Hello, Could someone do me a favor, summarizing this? I'm unable to get it completely. https://youtu.be/Gh6QAJgAqxA?si=OsXHfQ-hTgcHIHQE
=
This is a lengthy interview with John Skelton, COO and co-founder of Apex Trader Funding, discussing the company's tumultuous summer. The core issue was explosive, unexpected growth (doubling in size in 60-90 days) combined with a surge in fraudulent activity and schemes exploiting Apex's relatively lax rules, particularly regarding dollar-cost averaging (DCA). This overwhelmed Apex's staff and systems, leading to payout delays and widespread dissatisfaction.

John admits Apex made mistakes: they weren't prepared for the rapid growth, underestimated the prevalence of fraudulent activity, and their communication was poor. However, he emphasizes that Apex has taken significant steps to rectify the situation: doubling staff, implementing new monitoring systems to proactively identify fraudulent activity, improving communication, and refining their payout process. Payouts are now much faster, often within 24 hours.

A significant portion of the conversation centers on the tension between creating a widely accessible, affordable funding program and preventing its exploitation by fraudulent traders. John defends Apex's model of providing multiple accounts, arguing that it’s intended to foster better risk management and allow for scaling trades appropriately rather than encouraging excessive risk-taking. He believes the rapid growth revealed vulnerabilities, leading to unintended consequences and making it necessary to impose stricter rules regarding DCA.

Looking ahead, John expects increased regulation within the prop trading industry and envisions Apex as the leader in a changed market. Apex is focused on clarifying rules and improving transparency to prevent future misunderstandings and reduce instances of unwarranted denial. He anticipates stricter regulations in the industry.
  • #42,976
  • Oct 7, 2024 9:35am Oct 7, 2024 9:35am
Quoting mcquak
Hello, Could someone do me a favor, summarizing this? I'm unable to get it completely. https://youtu.be/Gh6QAJgAqxA?si=OsXHfQ-hTgcHIHQE
I have attached a full autotranscript from the mentioned youtube video, it is in Czech and English language as file attached. So you do not miss out any info. Cheers.

Attached File(s)
File Type: txt YT_Apex.txt   201 KB | 134 downloads


Sorry, it did not format the text with this tool. I just found a better website. But I cannot save it as file so you need to browse yourself. Here is you do the following:
Go to: https://notegpt.io/youtube-transcript-generator
Then type into generate summary field: "www.youtube.com/watch?v=Gh6QAJgAqxA"
Then click on Generate Summary and then you can read formatted transcript in English.
Attached File(s)
File Type: txt Yt_Apex_format.txt   100 KB | 146 downloads

Other file but formatted text
  • #42,977
  • Edited 11:56am Oct 7, 2024 11:12am | Edited 11:56am
Some updates on broker-backed prop firms, none have matched my personal criteria yet. The closest candidate is still Blueberry Funded if they are willing to adjust their pricing, even if profit sharing is reduced and the profit target is lowered, with a period 30-day challenge. I think there’s a middle ground to be found. Before that, just practice. Ideal 50k price I think $200, 1-Step Eval, Static Drawdown -6% and Profit Target 6%, 67% profit share would be about 10x gain ($2000). Target Profit 10% in a month with all blueberry rules? I dont think I could, in this time.

*$200 USD here about Rp3.15 Mio IDR (The average minimum wage of regular employees per month).
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Click to Enlarge Name: USD_IDR.jpg Size: 51 KB
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #42,978
  • Oct 7, 2024 12:47pm Oct 7, 2024 12:47pm
Quoting RoelsMajor
Some updates on broker-backed prop firms, none have matched my personal criteria yet. The closest candidate is still Blueberry Funded if they are willing to adjust their pricing, even if profit sharing is reduced and the profit target is lowered, with a period 30-day challenge. I think there’s a middle ground to be found. Before that, just practice. Ideal 50k price I think $200, 1-Step Eval, Static Drawdown -6% and Profit Target 6%, 67% profit share would be about 10x gain ($2000). Target Profit 10% in a month with all blueberry rules? I dont think...
Hantec only has a static DD in challenge phase. In Funded it's trailing.
Oanda is trailing.

If this is to be an exhaustive broker backed you may consider in adding Sway and Nordic Funder (both also trailing) and FXIFY (static)
  • #42,979
  • Oct 7, 2024 12:59pm Oct 7, 2024 12:59pm
It seems like trailing DD is making a comeback.
  • #42,980
  • Oct 7, 2024 1:05pm Oct 7, 2024 1:05pm
Quoting Takisd
It seems like trailing DD is making a comeback.
Doesn't allow hedging (or at least not in an easy way) and hedging is probably the main problem right now.
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