Stop making false statement.
What is the best prop firm trading in your opinion?
- Thread starter trader221
- Start date
Stop making false statement.
The thing is smarty pants, they don't say they fund a real account ...
Someone who sings up should know what they are signing up for. If they don't like it they shouldn't sign up ...
First of all I have not signed up for any such schmuck deal and not complaining The ethics is from overall point of view
Where do you think my profit in the futures market comes from? From someone else who lost it ... Yes from loosing traders but they go in and knowingly take market risk ! exchanges dont play this test fee game ... that is different you are comparing perishable apples with rotten bananas any way since you are saying that youe dont care where your winning money comes from that from misery of false and misleading "Funding promises" then you are champion free market thinker ..
At the end of the line it's no different at all ... Both take risks, knowingly, for speculating on the futures prices. The only difference is that these funding companies design their tests to be very hard with all kind of rules to make it near impossible for noobies, who are the ones who sign up, to pass these kind of tests.
But then again, those noobies should know what they sign up for, they should know all the rules in advance, if they don't like them they shouldn't sign up.
As long as they deliver what they promise, which is X amount of draw down for a certain amount of $ and they pay you the withdrawal when you request one it isn't a scam at all, because they deliver exactly what one signed up for.
You might think it is unethical and you have every right to think so, but that doesn't mean it's a scam ... Your opinion doesn't make something a fact.
Neither your opinion make sit legit
One more time I am not complaining about the rules .. it is where the winning traders gets paid . the very fact that the advertised aim of the company is based on a lie should raise red flags
And why would anybody in sane mind deal with a model where if all of sudden majority of traders have a windfall win in market and real trades were not taken what chance of getting paid..
One more time I am not complaining about the rules .. it is where the winning traders gets paid . the very fact that the advertised aim of the company is based on a lie should raise red flags
And why would anybody in sane mind deal with a model where if all of sudden majority of traders have a windfall win in market and real trades were not taken what chance of getting paid..
As long as they pay it is legit ...
Again, you have the right to think it's a scam, but that doesn't make it a fact.
You might think it's unethical, that doesn't mean it's a scam, you might not understand probability, that doesn't mean it's a scam, you might not understand or like how this business model works, that doens't mean it's a scam.
Now you said their advertisement is based on a lie, but that in itself is a lie ... All these companies have extensive FAQ's, some more easy to read than others, but they all explain how they work, what the rules are and what exactly you can expect to get, or not get.
So, instead of shouting your opinion, maybe it's time for some hard evidence?
- They don't disclose it is notional amount? 50K account is not really like 50K in account and then use it for trading
I can fund you for 200K easy 1 ES say 4000x $50 all I have to put up is 13,000 or so as margin
Would it be fair to say I fund you for a 200 K account? no it isa 13 K account
That sis deceptive marketing if not illegal
- You yourself said that some of these companies don't carry the trade in real market and pay from failed test fee clients
But hey you believe in As long as they pay it is legit.. ok you win boss perfect role model fora honest business
and one more time I am not saying they don't disclose trading rules did I ever say that !
I can fund you for 200K easy 1 ES say 4000x $50 all I have to put up is 13,000 or so as margin
Would it be fair to say I fund you for a 200 K account? no it isa 13 K account
That sis deceptive marketing if not illegal
- You yourself said that some of these companies don't carry the trade in real market and pay from failed test fee clients
But hey you believe in As long as they pay it is legit.. ok you win boss perfect role model fora honest business
and one more time I am not saying they don't disclose trading rules did I ever say that !
ok then answer this if you can.. if trades are not sent to real market ( some of these companies)then where do winners get paid? specially if one fine day majority of funded traders get lucky and have huge win ! Ho can you pay somebody on a sim account?
Well, you clearly figured it out so how is it a lie? Everyone with half a brain would realise that ...
I didn't say these companies don't carry the trades in the real market, i said these companies make their majority of their income from failing traders, which is obvious if you know how many traders fail.
And yes, as long as they pay out it is legit, even if they don't send your trades to the exchange ... If you get what you deserve, it is legit.
Well i can keep repeating myself but you clearly either don't get it, or don't want to get it.
They make a shit ton of money from failing traders, much more than what they have to pay out every now and then, it's not rocket science is it ... And as far as i know all these companies say that they "at their discretion" can copy trades in a real account, even Apex, so what's so hard to understand?
I am going to leave it here since this is going nowhere.
It is a basic question that almost every trader who take challenge knows.
The payment comes from challenge fee.
In the case a lot of traders get lucky , prop firms should prepare enough capital to deal with such circumstances, or they will go broke. There were such instances before ,like funding talent, who did not make necessary risk management and went belly up after a huge withdrawals from challenge takers.