This isn't a criminal court of law, it is a firm taking money from people and saying they will get paid if profitable.
The largest FX prop firm named MyForexFunds stopped working now, are they out of business ?
- Thread starter TrAndy2022
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This isn't a criminal court of law, it is a firm taking money from people and saying they will get paid if profitable.
Still doesn't change the fact that the burden of proof is with the ones doing to the accusations, they don't have to prove anything, you have to if you want to accuse them of scamming.
If you can't your accusations are empty, based on nothing and very likely false. An opinion isn't evidence.
Give it a rest. Lot’s of traders use Apex.
Maybe come out of your Mom’s basement once in a while.
Wouldn't be around if not. Doesn't mean it's any good.
It’s common knowledge that trading one’s account is the best way to go. Getting access to leverage if you know what you are doing is simply a path to get there.
Many cry foul that “Prop” means something different in forex and that their business model is built on aspiring traders failing challenges. It’s not the first time that businesses are built around selling a dream with a storefront t of picks and shovels.
Afaik, the general consensus is that a majority of retail educators are in the business of selling education, which is distinct from training proficient and profitable traders.
The mindset component is such a major aspect to success in this profession and many refuse to give up their ego and change.
I would not call Apex a proprietary trading firm, though. It's by definition a bucket shop as your orders never hit the market. Their rules make no sense except from the owners perspective including trailing drawdown on unrealized profits and limitations on drawdowns where your "profits" are locked up.
If one wants to go down that route, at least choose a better firm, i.e., one without withdrawal limitations and one which actually lets you trade a real account.
Simply, really.
I just thought your argument about a lot of traders using Apex was silly seeing how a lot of traders used MyForexFunds, too.
Again, not true, stop repeating the same lies.
Another poster on this forum recently said he got an actual live account at Apex and already got multiple withdrawals from them.
I concur with most of your statements. Trailing Drawdown favors a particular trading style and definitely favors the bucket shop.
Afaik, the industry is moving away from that due to competitive pressure of heavy discounts on their challenges.
It's by definition a bucket shop as your orders never hit the market.! As LF said above
But that isn't true ... another trader on this forum recently got an actual live account after some time on the simulated funded account.