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Quoting 1odi
{quote} Now i know ur full of crap...........i pay 500Euro a year to an accounting firm, i have my own accountant which does my taxes, bills, invoices..everything. She knows exactly how i m trading, with what firms, what products etc..She consulted with their lawyer, at that particular firm, since most clients there trade. WTF are u talking about lol.....full of BS..i can t continue this sharade..i trade, i come here from time to time to see what s new in propfirm land..and i see nonsence like that! tell it to whome wants to listen buddy, i ain...
There is no reason to be aggressive like you do in your last post. I wanted to be always polite and shared my view. But let me know (!) once you got a criminal record and you cannot relocate or travel to other countries because you get caught in a live prop investment ponzi like scheme and got fined from government/state lawyers.
Quoting TrAndy1
{quote} There is no reason to be aggressive like you do in your last post. I wanted to be always polite and shared my view. But let me know (!) once you got a criminal record and you cannot relocate to other countries because you get caught in a live prop investment ponzi like scheme and got fined from government/state lawyers. Helpful then.
mate, if u trade with a propfirm and the owner of that prop uses it as a ponzy, u still aren t liable, as ur seen as a clint, u haven t bought into that firm!!!!
U have some fears that shouldn t be there bud, that s all. Even the regulaters know what props are and what the model is, they just haven t found the grounds yet lol to come bearing the hammer. take a look at what MFF did and even threw some accounts to live if i ain t mistaken..and still walked or is gonna walk away (CEO).
Anyways, it s nonsence bud. i m off. have a good1
Quoting 1odi
{quote} mate, if u trade with a propfirm and the owner of that prop uses it as a ponzy, u still and liable, as ur seen as a clint, u haven t bought into that firm!!!! U have some fears that shouldn t be there bud, that s all. Even the regulaters know what props are and what the model is, they just haven t found the grounds yet lol to come bearing the hammer. take a look at what MFF did and even threw some accounts to live if i ain t mistaken..and still walked or is gonna walk away (CEO). Anyways, it s nonsence bud. i m off. have a good1
Everytime we see a rug pull and the CEO is buying and posting a Lambo car on Insta, we wonder why that CEO has not go to jail for 20 years or do not need to pay back all his profits ? Because it is still wild wild west and there is no proper regulation. It will certainly come we all know and sooner than later. So maybe you can expect to hear a lot of jailtime stories in 2025 then, when prop firms get caught on illegal activities and need to pay big fines because of that incoming regulation. Wake up (!).
Quoting 1odi
{quote} mate, if u trade with a propfirm and the owner of that prop uses it as a ponzy, u still aren t liable, as ur seen as a clint, u haven t bought into that firm!!!! U have some fears that shouldn t be there bud, that s all. Even the regulaters know what props are and what the model is, they just haven t found the grounds yet lol to come bearing the hammer. take a look at what MFF did and even threw some accounts to live if i ain t mistaken..and still walked or is gonna walk away (CEO). Anyways, it s nonsence bud. i m off. have a good1
I am not so sure as you but if you can sleep better with it, then it is yours. You are not a retail consumer at a prop firm. You are contracted as independent trader, kind of self employed because I needed to register here as being self employed giving signals to a prop firm where I get provision. As long as it is all a game nobody asks, but when trading real money on live accounts, the situation is changing. And then you do not have the same rights like a retail consumer buying a good and that's it. No.
Quoting TrAndy1
{quote} Everytime we see a rug pull and the CEO is buying and posting a Lambo car on Insta why wonder why that CEO has not go to jail for 20 years or do not need to pay back all his profits ? Because it is still wild wild west and there is no proper regulation. It will certainly come we all know and sooner than later. So maybe you can expect to hear a lot of jailtime stories in 2025 then, when prop firms get caught on illegal activities and need to pay big fines because of that incoming regulation. Wake up (!).
yes ofc, a lot of traders will be jailed... i am wide awake mate! i could sit here and explain to u why regulations won t do sh!t in the long term..and here i m talking about a lot of industries, not just trading..but u got ur dark views, keep them. it s all good.
it s just sad that ur trying to put the fear of God into traders here just based on ur beliefs and no actual tangible facts.
Quoting 1odi
{quote}U have some fears that shouldn t be there bud
He has no fears he's just a narcissist with a god complex.

He was also saying that a trader at Darwinex Zero won't be offered any third party investment capital unless they have a job in the industry and a relevant university degree. In other words, after earning 3-5% for 12 months straight at DZero and reaching the Gold level, DZero will be like sorry mate, no investor capital because you dont work for Goldman Sachs and don't have a degree in Economics from Harvard. Sorry we never mentioned that on our site or in any of our videos. But hey, thanks for your subscription fees.

Just ignore this BOZO. He has no idea what he is talking about
Pride always comes before destruction.... -Proverbs 16:18
Quoting 1odi
{quote} yes ofc, a lot of traders will be jailed... i am wide awake mate! i could sit here and explain to u why regulations won t do sh!t in the long term..and here i m talking about a lot of industries, not just trading..but u got ur dark views, keep them. it s all good. it s just sad that ur trying to put the fear of God into traders here just based on ur beliefs and no actual tangible facts.
It is not so my opinion I know this from facts and experiences I made in the past. Second, you can definitely expect the futures prop will going down a lot in their favor, when you as trader needs to pay professional data fees. You cannot be treated like a retail consumer because you have a contract as indepedent trader at a prop firm, so I would be very surprised in an upcoming regulation from CME or CFTC whatever if the futures prop trader do not need to pay big fees and maybe per account/firm.
Also as long as you ask your lawyer it is an opinion what you get. But if you needed to register in reality with the authorities in your country then this is true knowledge and based on facts. This is what I have based on my working & self employed experiences. So I am not talking about a random lawyer opinion here. Talking about facts.
Quoting TrAndy1
{quote} It is not so my opinion I know this from facts and experiences I made in the past. Second, you can definitely expect the futures prop will going down a lot in their favor, when you as trader needs to pay professional data fees. You cannot be treated like a retail consumer because you have a contract as indepedent trader at a prop firm, so I would be very surprised in an upcoming regulation from CME or CFTC whatever if the futures prop trader do not need to pay big fees and maybe per account/firm.
when it s gonna be voted into LAW, we can talk about it then bud,, till then, there s no reason to speculate and fill ur mind with what might be or might not be..etc.
i m gonna quote Lagarde >poor people need better lobbyests> Cheers
You still did not get it really. But since you in Africa maybe you can make jokes with the police in your country. Here in Germany they are so awaken you can get suspected very easily for nothing. Second. It is much harder when you need to register. You get controlled every year from the authorities (here Bafin) without a date and they come in two persons and they look at your record keeping and etc. They decide within 20 minutes about your whole future. If you get a lifetime ban you cannot work in the financial industry hired or self employed, it does not matter, anymore and probably you cannot relocate or travel anymore too since you have a criminal record shortly after they visited you (unasked). My record keeping was fine at that time but I sweat a lot, because I knew they can decide about your future in minutes!
And the consequences having a criminal record are even harder. You cannot have any job anymore. So when you need money and need your 9to5 job you can forget it with such a serious criminal record. You get immediately fired when you have a job. So if you cannot live lifetime from your savings then and try to trade personally on an offshore broker it will get difficult when the public government aid is not too much. And I think in Africa you do not much money when you have no job and no money at all or ? And the worst is you cannot be self employed in your expertise anymore too. No financial industry anymore. The conseqences are much harder you think.
Quoting montygoldy
Any topstep user can confirm....??? Should i be concerned about my trading style??? {image}
I think none of us here reach your milestone. Be fearless, reap in more not just milk them.
Quoting maltrader
This is amazing. Paid out in 42s. Not just approved, but money transferred to Rise. MFFU. {image}
MFFX and MFFU is currently the best, despite some reports here about the ceo. As long as they are fearful of him scamming them a couple of hundreds they miss the golden opportunity to milk them.
Quoting TrAndy1
You still did not get it really. But since you in Africa maybe you can make jokes with the police in your country. Here in Germany they are so awaken you can get suspected very easily for nothing. Second. It is much harder when you need to register. You get controlled every year from the authorities (here Bafin) without a date and they come in two persons and they look at your record keeping and etc. They decide within 20 minutes about your whole future. If you get a lifetime ban you cannot work in the financial industry hired or self employed,...
first off i ain t in africa, i specifically put that there for people like u..second, i knew that Baffin is german regulator of financial services, insurence firms and banks. what were they doing at ur place lol? first time i hear something like that. u get criminal record only for repeated offences or grave 1s, embezzelment etc..also if u have millions in taxes u didn t pay, which is evasion etc...also what ur talking about it s a white collar crime, maybe u won t be hired at a bank anymore but for sure u can sell bread or work constructions as poor examples...u can also relocate and do whatever the heck u want pretty much except getting a job in the field where u commited the so called crime/// dude, get ur facts straight...and talk about facts, not ur opinions///
u know how i knew u talk out of ur...? almost every good accounting firm accross EU has a lawyer on retainer specialised in taxes and financial gains. Moreover, it s clear that u have no clue about the classes and exams an accountant takes to get the degree, is almost identical to a lawyer to a certain degree!
i won t entertain this BS anymore bud cos it s clear 2 me u r just gonna keep trying to spin things around just to save face, but i m interested in cold harsh facts, not make beliefs. Also, when u go to a lawyer u don t ask what s ur opinion, u ask what is the law and where do i fit in? the way u describe Germany u make it worse then Russia or China...regardless> i wish u good luck in ur future endevours. cheers
Quoting 1odi
{quote} yes ofc, a lot of traders will be jailed... i am wide awake mate! i could sit here and explain to u why regulations won t do sh!t in the long term..and here i m talking about a lot of industries, not just trading..but u got ur dark views, keep them. it s all good. it s just sad that ur trying to put the fear of God into traders here just based on ur beliefs and no actual tangible facts.
Dont listen to him, he has no clue

I have been a futures prop trader in my younger years , we had traders from all over Europe on our desk , never heard that there was 1 trader in my firm or in any other firm that was required to have a license

Here is what a real futures prop firm ( where the money you make comes from the markets you trade and not from fees paid for challenges ) like ApterosTrading in the USA answered me in an email

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and this is what proppers.io , an offshore CFD and Forex prop firm , has on their webaite

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ask any prop firm on this list and they will tell you the same thing

https://www.traderslog.com/proprietarytradingfirms
Quoting sampat
{quote} Nope because you are canadian they can't put you on live. Even if they do you don't have any other option accept it or say good buy to top step..
I have no problem with Live account as i well......
My original investment in Topstep is recovered i.e close 5k + or -. Asked for 12500 payout with 2500$ drawdown on 5 accounts. Now its all house money.
SIM or Live doesnt matter as long as they pay......
Now i can peacefully milk them.... THe pressure of NETT Loser on this firm gone.......
Extreme gut feeling trader
Quoting maltrader
This is amazing. Paid out in 42s. Not just approved, but money transferred to Rise. MFFU. {image}
They are killing it.........

Milk'em......
Extreme gut feeling trader
Quoting Stoneyrocks
ask any prop firm on this list and they will tell you the same thing
-Generally speaking, licensing and registration requirements may vary, depending on country.

For US traders that are acting as investment advisor or managing a fund, other people's money and/or executing trades on behalf of others for a fee or percentage of profits etc., then some requirements may be necessary.

Whether or not you need to register with the state, the SEC, the NFA et al. may depend on the type of trading, the clients' asset classes and/or amount of AUM involved etc..

What may be required and what is actually enforced may be two, different things. I would not rely on what a remote prop firm tells you.
Horrible Day.......

1. Lost Tradefiy and Takeprofittrader evals (Now next payout will fund further evals except this topstep payout)
2. MFFU (Funded) 50kx3 - 3600$ total (Daily Loss limit .. revenge longs on gold killed me)
3. Topstep (Funded) 50kx5 (No trades waiting for payout)
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Extreme gut feeling trader
One of latest 1 star reviews from a German regarding Quant Tekel. Not looking good really. Too bad for me probably. I did not get any email so far.

"This prop firm is the worst i have seen…
This prop firm is the worst i have seen in my 4 years trading.
They started normally, then slowly started to degrade.
I thought at first that they would be a normal prop firm, they had no weird rules, just the usual, so i gave it a try since they had a 50% discount. (they still have a 50% discount constantly since opening, which is very weird but makes all sense now)

These issues came up:

1. The first issue was when they said that a group of malicious traders were abusing their system and they introduce this rule:
you can edit your TP or SL only within 15 sec after you open your trade or after 2 minutes, and if you violated this rule it would've counted as a soft breach and forfeited all profits, like literally all profits, and you had to wait 2 weeks to get your account reset.

2) The second issue started when they had to migrate because metatrader banned their company for weird activity and im not even surprised (even tho they migrated multiple times already before that).
They promised everyone a smooth and quick migration and they couldnt even keep their word, it took way longer and everybody was angry and complaining.
And just like everybody i was also annoyed and complained.
The Co Founder, Alex, is a childish person and very unprofessional, he got mad and started banning people randomly.
He then told to one of his staff members to ban me after i reach payout because of "defamation".

Well he thought i wasn't going to reach payout but i got to the top of the leaderboard and obviously he noticed and came out with some excuse saying that i was gambling since i didnt have no SL even tho that is not against the rules, then he came up with some stupid excuse and just refused to pay me.

They denied me 3 payouts:

1. 7.8k denied i modified my SL 23 seconds after i opened my trade, gotta thank ctrader and their quicktrade function, even tho this rule doesnt make no sense.
2. 11.5k denied because i modified my TP during an all day red folder "jackson hole symposium" which didnt even affect no trading pair at all, then they put emphasis on risk management, how should a trader protect themselves if you put these dumb rules?
3. 20k denied because i did not use any SL, which is NOT against rules, but Alex in front of everybody came up with some stupid excuse (something that is not even inside the rules) saying oh i held over the weekend and i had triple swaps bla bla, the triple swaps were positive swaps for GBPJPY, i was 800 pips in profit and i was monitoring my trades.

Quick summary of things:
1. The Co-Founder Alex is childish he has a group of monkeys who get a couple of smaller payouts here and there but they surely blow more money thats why they are liked in there.
2. They will find any type of excuse just to deny your payout, honest traders get punished, these rules are made to make you fail but you can clearly see even if you respect every rule, you will get denied.

STAY AWAY FROM THIS PROP FIRM

spend a little more money and go to trusted propfirms like FTMO.
Date of experience: October 27, 2024"
19 traders viewing now, 2 are members:
jamboole
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