If it's stupid, why do you offer it?? Because you're looking for gullible, vulnerable wannabe traders.
Trying to Manage these Trading Combines. Anyone else?
- Thread starter legionx
- Start date
CME considers that a wash trade and is not allowed.
A wash trade is a form of market manipulation in which an investor simultaneously sells and buys the same financial instruments to create misleading, artificial activity in the marketplace.
But it's not in the intention to mislead market players.
What if it would be for hedging reason ?
There would be no significant effect on price.
Look. I agree this really only affects larger institutions. The small little retailer would not be on the CME's BCC radar. But like an IRS audit, they could randomly select you and put you through their version of the Inquisition. Would be ready to prove your true intention?
Would a prop firm be willing to take the chance, since it is THEIR money that will pay the fines and possible trading suspension?
APEX has no transparency. There are a number of "rules" that will prevent you from being paid. It's a cash machine looking for vulnerable wannabe traders. That's it.
Anyone who believes anything else is very gullible.
Long time ago since i ever looked at these kind of companies.
What kind of rules are you talking about? Will have to take a look at their website.
In the end all of them are just hamster wheels, feeding on failing traders.
Their "rules" are less than transparent. I've seen reports where a trader would not be paid if they had a single day with a huge win. Apparently, their "consistency" rule kicks in when your trades vary by profit - or something like that. I don't believe there's anything at the website that describes their rules in detail - and that's intentional, of course.
Well, a quick Google search gave me this:
https://support.apextraderfunding.c...stency-Rules-For-PA-and-Funded-Prop-Accounts-
Not the first time i saw these kind of companies with such "consistency" rules.