We'll be able to respond to that question shortly.
Big-3 "Pay2Play" Prop Firms and the COVID-19 crisis?
- Thread starter SelfMadeDude
- Start date
We'll be able to respond to that question shortly.
If they're set up like they say they are, they would have systems to cut trades at daily loss limits so can't see there being any issue
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Peblo
That assumes that Rithmic infrastructure works as it's supposed to, which was not the case during these wild swings, albeit ONLY WITH DEMO ACCOUNTS. As far as I know, live accounts were not affected but still - it is better not to rely just on Rithmic for these firms but also have some other routes to the market to liquidate all if that is needed.
Man, risk managers are probably the most important positions in this business - I like to call myself a risk manager first and foremost, trader in the second place.
@Earn2Trade
That brings me to a question in addition to the choice of FCM between Ironbeam and Dorman - can I also choose to route my orders through CQG rather than Rithmic?
LOL "big 3". Not a single trader I know is aware of these businesses and they most certainly would not be interested in them. Those are not even bottom bucket.
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Peblo
They are not a scam. They do exactly what they promise to. They offer a fantastic opportunity to become a professional trader to those lacking capital.
They PROBABLY do not have big traders on their books as most likely successful traders have left them after reaching a certain PnL level to look elsewhere for lower commissions, better payout, bigger size, etc. They just do not cater to people who already have money to trade with. Simple as that.
Your candor and pro-activity is very much appreciated!
E2T certainly sounds like a great funder
E2T certainly sounds like a great funder
That's not been a problem with Ironbeam, however we'll have to check about Dorman. Regardless, only once the trailing drawdown has been covered you can switch to another data provider. Please keep in mind that you have to cover your own costs for that platform.
LOL minimike .. you will be shot down shortly by all the sundry and you will be labelled as "another test failure who writes negative comments about this perfect business model"
for making such wild claims
you are accusing these so called prop firms to be making more money form selling test...
than trader's trading performance OMG
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Peblo
Of course they are PROBABLY making more money from selling tests. What is wrong with that?
If you decide to join them you have to be ABSOLUTELY CONVINCED that you are a better trader than the majority of other customers whose money will be used to fund your account. Everyone knows the stats, the rules of the game and should be adult enough to bear the consequences.
I will say again - I am grateful to those people that they offer such an opportunity. Let it continue.
If you decide to join them you have to be ABSOLUTELY CONVINCED that you are a better trader than the majority of other customers whose money will be used to fund your account. Everyone knows the stats, the rules of the game and should be adult enough to bear the consequences.
I will say again - I am grateful to those people that they offer such an opportunity. Let it continue.
LOL minimike .. you will be shot down shortly by all the sundry and you will be labelled as "another test failure who writes negative comments about this perfect business model"
for making such wild claims
@minmike All of the revenue from Earn2Trade is from examinations, educational packages and the Bootcamp. Earn2Trade does not have any other source of revenue. Helios makes money from its traders and payments from Earn2Trade. As we answered already above, the company is certainly not doing better with "thin markets blowing people out". You might be surprised but the swings go in both directions.
@traderjo You are just here to add another negative post? Maybe @minmike doesn't know the answer to the question, but you certainly do. We've addressed it enough times to you. So let's take another trip on the merry go round.
Helios is not a "so called prop firm", it is a prop firm. Earn2Trade makes money from examinations and pays Helios to take successful candidates from Earn2Trade. Both of the companies make money.
And what if Earn2Trade makes more money from examinations than Helios makes from traders? They are not in a competition with each other for revenue. What if a bakery makes more money from it's customers than the farmer makes for selling the wheat to the bakery? What is the principle you are standing for? If examinations help pay for others to be funded why is that a problem? You are not uncovering any conspiracy. We do not deny our business model. The vast majority of people don't consider this to be an issue. You and some others do, we respect that but after so many times what are you still trying to prove? You asked me last time not to "bully" you, as if responding to your accusations and nasty statements is some kind of provocation, yet at every opportunity you are here to provoke. What was the point of your post? People ask legitimate questions and you provide some solidarity for the one accusation that you know has already been addressed multiple times?
You don't like this business model. You think it is morally bad or questionable for whatever reason. You've questioned the ethics, legality and rationale of our business many times, and very often in an uncouth manner. Everyone knows your opinion about this. You've been spreading it on the forum for years, and almost everywhere there is a thread with our name on it. You've established your point. We are not hiding anything from people who want to take our exam. Please just cut it out already, it's getting to be plain obnoxious.