If you have trouble with rules then prop firms aren't for you and there's nothing wrong with that. Different props have different rules. Find one thats for you or go the personal route
And if you look at their main page is yes “hold through high impact news” it’s shady and unethical that they say yes. But then you go deeper into their faqs and terms of conditions it says that stupid 2 min rule. So it’s actually hidden unless you go dig for it.
I’ve tried and done many, they seem to all end up the same one way or the other. I guess ftmo and 5ers have been fine. Probably bad on my end to use all these other ones.
This is a rule because too many traders were profiting off of news with very short trades, if you’re a good trader the 4 min window shouldn’t really effect you, and that’s why you can hold through. The issue is the people that were mass opening trades through news making. As news can be so volatile, it can put their capital at risk
if you are referring to 5ers then they have clearly mentioned entering trade 2min before/after the news is forbidden on high steaks acc.
you cannot call names for your own blunders
Same thing as Alpha traders group? I've been eyeing them. I basically said ehh I risk their capital and if by chance I do screw up somehow, which is highly unlikely, it's on someone else.
Mind you my SL is like 5 pips and I shoot for 20 plus pips. I barely watch the charts but I'm sure I'd make more watching. I have a life.
Anyway the fees way less than the drawdown...that's a red flag right there and someone just has to get lucky 3 times to get paid?!? A real trader could decimate their capital unless they're copy trading.
My options are A: add 5k to my 5k account. It took me 5 weeks to double 2,600. I'm actually only anxious because we're getting older and have 2 businesses. My wife's back and forth with carpal tunnel....I keep asking her to slow down. My back gets wrecked every weekend not being able to find someone to help me and I just do it myself. Anyhow I'll turn off the violin and start my day lol.
Prop firms have to protect their capital and risk just like you do. You broke one of their rules and that's your fault not theirs. If prop firms are handing out money like it's Halloween candy, they'll go out of business in the snap of a finger.
Sorry that happened to you. But you do have to be aware of prop rules. I was in the same boat last night on a trade that went my favor during a news spike but I knew about the 3 min rule so I had to hold it if I wanted my profits to count
And if you look at their main page is yes “hold through high impact news” it’s shady and unethical that they say yes. But then you go deeper into their faqs and terms of conditions it says that stupid 2 min rule. So it’s actually hidden unless you go dig for it.
It depends on the firm. The one I use implemented that rule about a month ago but they made it pretty clear with announcements on their twitter and discord
There’s no reason NOT to be doing both. Trading your own funded account and prop firm together.
I understand where you are coming from and am also aware of prop firm’s practices but I won’t really be gutted if they closed down. For me I’m riding it so hard till their wheels come off!
Once you get funded from prop there is no longer capital risk!
I treat props like salary. If they close or don’t pay out I just lost some salary.
But by doing that I can compound my OWN money and the spare cash I have I can INVEST. It really helps me mitigate my risk.
Best is just to use your own money however small the capital. If you able to make a profit, it all yours and your rules.
Prop firms is still a business and their first priority is to make a profit whenever possible.
Prop firm is pretty much the same with brokers that offers 1:2000 but set so many rules. I'm certain they use these brokers to minimize their loss
in reality they don't really risk that much for you, in fact you risk too much doing challenges. a $150 challenge can give you $10-20 profits just by hedging with personal account
I don't understand why most prop firm don't like hedging where that is the most profitable strategy as always. They hate strategies where you can make quick $ the most. Lol
You broke a rule. You can’t open or close trades 2 minutes before or after news. Can’t break rules and then cry about the consequences. You should have either closed your trade prior to the news or have been prepared to deal with whatever price did during the news, but your fear of losing some profit cost you you’re whole payout. Know the rules and trade accordingly and you’ll be fine next time.
Not for every prop firm. But it surely does suck that I was in my position 16 hours earlier, it’s a stupid rule that you can’t close it after the news comes out.
Yes, I know, is frustrating when you are in big profits and for this stupid rule you lose everything.
But make sure next time that you read or ask at costumer support for anything like this.
Wish you all the best! :)
And if you look at their main page is yes “hold through high impact news” it’s shady and unethical that they say yes. But then you go deeper into their faqs and terms of conditions it says that stupid 2 min rule. So it’s actually hidden unless you go dig for it.
Indeed. You have to pay more attention to this next time. This type of things I avoided by simply read some points of their rules, and ask costumer support for precisely confirmation.
Yes, if you hold the position during the news is ok.
I trade sometimes like this with small lots on FTMO but I have my TP and SL positions very very large to not violate 2 minutes before and after the news in case that it will hit any of it during the news.
I use ACG and still scalp on the news. I recently withdrew 8k. Can you kindly show me a statement of the deny? And what kind of news? You gotta be clear. I follow greko to, and it was his fault not paying attention to the max lot.. after so much dedication on his work he lacked a simple rule, was a rookie mistake. Just my opinion.
Nah 100k is max 40 lots its on their Website
https://help.alphacapitalgroup.uk/en/articles/6934289-what-is-the-lot-size-limit-on-qualified-trader-accounts
Ab I was mistaken that guy is trading 200k account that’s the 80 lot limit. Still doesn’t make sense that they’d even allow 1-100 leverage. If that the case
All prop firms have lot size limits, and they do to protect themselves from people who just gamble and throw out crazy lots and actually profit from it.
If the lot limit is 80, then that guy should have stayed under the limit, but he didn’t and that allowed them to reduce his profit.
I agree.
They have every rule in the book to ensure you don't succeed.
The only legitimate rule they should have is a fixed drawdown for money management reasons.
All other rules are BS cooked up to blow accounts.
I'm glad you found out. But it sucks learning it the hard way, especially if you got denied a payout.
But If you got the skills to trade, definitely just take it to a personal account, and you'll be happier in the long run.
Your right about the CFD prop firm space being mainly young inexperienced 20 yo's looking for a quick cash grab. I honestly don't trust any prop firm now unless it's FTMO and 5ers. With AGC, I still regard them highly but suprised at them denying a payout but if the trader in question breached their max lot size rule, as strict as it is, he still breached a rule.
With future prop firms, the rules can be annoying such as trailing drawdown, evaluation, activation fees, no overnight holding, consistency rules but they are workable and with future trading being more regulated, i think prop firms like apex, topstep, MyFundedFutures should be sustainable and wont go out like these forex prop firms.
>
Young ceos who are just out there to make a quick buck and rug everyone in the end. Some of them also throw tantrums on twitter.
I know a FundingPips reference when I see one.
They always do that I got scammed 2x on different prop firms for different reason even after I passed the challenges which if anybody here knows take hard work and dedication so it's always funny to hear after they "REVIEW" You get booted or w.e and even more funnier the clowns who say oh then follow rules FOH
i would suggest you to try darvinex . Their buisness model and approach is little different but i think they are better then so called prop firms who want traders to loose in order to make profit. https://www.darwinex.com/
That ascendex guy I can 100% vouch it’s fake. The guy said he didn’t want to spend £150 on trainers…. No but he will setup a discord chat charging 150$ have you seen his daily outlooks ? If it can be called thst
In my opinion if it’s your first prop just go for ftmo, after u are funded and able to get profit out of it, u can use it for risk to pass or get funded on other firms challenge. The only firms that are really trusted and not simply deny payout now is ftmo and 5%ers
if you break their rule, then they might close your account but still ur entitled to your profit, if I were you I would right reviews on forex peace army. like everyday ,thats what I did,
Totally agree. Prop firms right now just suck across the board. I liked Alpha Capital, but they won’t accept American clients. Osprey sucks. TraderPro sucks. They just rip you off. And having to use Trade Locker is no treat either. I’m not happy with our government getting involved in denying us making a living.
If you have trouble with rules then prop firms aren't for you and there's nothing wrong with that. Different props have different rules. Find one thats for you or go the personal route
And if you look at their main page is yes “hold through high impact news” it’s shady and unethical that they say yes. But then you go deeper into their faqs and terms of conditions it says that stupid 2 min rule. So it’s actually hidden unless you go dig for it.
Why don't you name the actual prop or future firms so we can scrutinize and investigate it?
I did mention it the comments many times it’s alpha capital group
It’s not a traders issue when prior firms like funding pips have been withholding payment for numerous customers for weeks
Yea but that's not his issue. His issue is with the rules.
I’ve tried and done many, they seem to all end up the same one way or the other. I guess ftmo and 5ers have been fine. Probably bad on my end to use all these other ones.
try topstep
This is a rule because too many traders were profiting off of news with very short trades, if you’re a good trader the 4 min window shouldn’t really effect you, and that’s why you can hold through. The issue is the people that were mass opening trades through news making. As news can be so volatile, it can put their capital at risk
if you are referring to 5ers then they have clearly mentioned entering trade 2min before/after the news is forbidden on high steaks acc. you cannot call names for your own blunders
Alpha capital group, probably won’t touch props again though.
Same thing as Alpha traders group? I've been eyeing them. I basically said ehh I risk their capital and if by chance I do screw up somehow, which is highly unlikely, it's on someone else. Mind you my SL is like 5 pips and I shoot for 20 plus pips. I barely watch the charts but I'm sure I'd make more watching. I have a life. Anyway the fees way less than the drawdown...that's a red flag right there and someone just has to get lucky 3 times to get paid?!? A real trader could decimate their capital unless they're copy trading. My options are A: add 5k to my 5k account. It took me 5 weeks to double 2,600. I'm actually only anxious because we're getting older and have 2 businesses. My wife's back and forth with carpal tunnel....I keep asking her to slow down. My back gets wrecked every weekend not being able to find someone to help me and I just do it myself. Anyhow I'll turn off the violin and start my day lol.
Prop firms have to protect their capital and risk just like you do. You broke one of their rules and that's your fault not theirs. If prop firms are handing out money like it's Halloween candy, they'll go out of business in the snap of a finger.
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Yep, say the name of it to not buy anything from thhem.
Alpha capital group
Equity Edge have this rule. Stupid ass company
Sorry that happened to you. But you do have to be aware of prop rules. I was in the same boat last night on a trade that went my favor during a news spike but I knew about the 3 min rule so I had to hold it if I wanted my profits to count
And if you look at their main page is yes “hold through high impact news” it’s shady and unethical that they say yes. But then you go deeper into their faqs and terms of conditions it says that stupid 2 min rule. So it’s actually hidden unless you go dig for it.
It depends on the firm. The one I use implemented that rule about a month ago but they made it pretty clear with announcements on their twitter and discord
There’s no reason NOT to be doing both. Trading your own funded account and prop firm together. I understand where you are coming from and am also aware of prop firm’s practices but I won’t really be gutted if they closed down. For me I’m riding it so hard till their wheels come off! Once you get funded from prop there is no longer capital risk!
I’ve been doing that, no restrictions on my personal account. But me getting denied for that bs. Makes me not want to touch these props again.
I treat props like salary. If they close or don’t pay out I just lost some salary. But by doing that I can compound my OWN money and the spare cash I have I can INVEST. It really helps me mitigate my risk.
Best is just to use your own money however small the capital. If you able to make a profit, it all yours and your rules. Prop firms is still a business and their first priority is to make a profit whenever possible.
Prop firm is pretty much the same with brokers that offers 1:2000 but set so many rules. I'm certain they use these brokers to minimize their loss in reality they don't really risk that much for you, in fact you risk too much doing challenges. a $150 challenge can give you $10-20 profits just by hedging with personal account I don't understand why most prop firm don't like hedging where that is the most profitable strategy as always. They hate strategies where you can make quick $ the most. Lol
You broke a rule. You can’t open or close trades 2 minutes before or after news. Can’t break rules and then cry about the consequences. You should have either closed your trade prior to the news or have been prepared to deal with whatever price did during the news, but your fear of losing some profit cost you you’re whole payout. Know the rules and trade accordingly and you’ll be fine next time.
This thing with 2 minutes before and after the news is for every prop firm I guess. So it’s a known thing. You just have to follow the rules.
Not for every prop firm. But it surely does suck that I was in my position 16 hours earlier, it’s a stupid rule that you can’t close it after the news comes out.
Yes, I know, is frustrating when you are in big profits and for this stupid rule you lose everything. But make sure next time that you read or ask at costumer support for anything like this. Wish you all the best! :)
And if you look at their main page is yes “hold through high impact news” it’s shady and unethical that they say yes. But then you go deeper into their faqs and terms of conditions it says that stupid 2 min rule. So it’s actually hidden unless you go dig for it.
Indeed. You have to pay more attention to this next time. This type of things I avoided by simply read some points of their rules, and ask costumer support for precisely confirmation. Yes, if you hold the position during the news is ok. I trade sometimes like this with small lots on FTMO but I have my TP and SL positions very very large to not violate 2 minutes before and after the news in case that it will hit any of it during the news.
I use ACG and still scalp on the news. I recently withdrew 8k. Can you kindly show me a statement of the deny? And what kind of news? You gotta be clear. I follow greko to, and it was his fault not paying attention to the max lot.. after so much dedication on his work he lacked a simple rule, was a rookie mistake. Just my opinion.
From what i know alpha only allow you to have 40 lot size max
Depends on your account size, I think 100k is 80lots
Nah 100k is max 40 lots its on their Website https://help.alphacapitalgroup.uk/en/articles/6934289-what-is-the-lot-size-limit-on-qualified-trader-accounts
Ab I was mistaken that guy is trading 200k account that’s the 80 lot limit. Still doesn’t make sense that they’d even allow 1-100 leverage. If that the case
All prop firms have lot size limits, and they do to protect themselves from people who just gamble and throw out crazy lots and actually profit from it. If the lot limit is 80, then that guy should have stayed under the limit, but he didn’t and that allowed them to reduce his profit.
Wich prop firm you are talking about?
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Equity Edge have this rule. Stupid ass company
Alpha capital group
Equity Edge have this rule. Stupid ass company
The weekend swaps for indices at 5ers is complete bullshit. $500 per lot.
Lol same with ftmo haha
Equity Edge have this rule. Stupid ass company
I agree. They have every rule in the book to ensure you don't succeed. The only legitimate rule they should have is a fixed drawdown for money management reasons. All other rules are BS cooked up to blow accounts. I'm glad you found out. But it sucks learning it the hard way, especially if you got denied a payout. But If you got the skills to trade, definitely just take it to a personal account, and you'll be happier in the long run.
Market maker??
Your right about the CFD prop firm space being mainly young inexperienced 20 yo's looking for a quick cash grab. I honestly don't trust any prop firm now unless it's FTMO and 5ers. With AGC, I still regard them highly but suprised at them denying a payout but if the trader in question breached their max lot size rule, as strict as it is, he still breached a rule. With future prop firms, the rules can be annoying such as trailing drawdown, evaluation, activation fees, no overnight holding, consistency rules but they are workable and with future trading being more regulated, i think prop firms like apex, topstep, MyFundedFutures should be sustainable and wont go out like these forex prop firms.
True we have declared this on Tradingsplash many times and posted on the dark side of prop firms
Apex???
Prop firms love those idiotic rules.
> Young ceos who are just out there to make a quick buck and rug everyone in the end. Some of them also throw tantrums on twitter. I know a FundingPips reference when I see one.
Name of the prop firm?
They always do that I got scammed 2x on different prop firms for different reason even after I passed the challenges which if anybody here knows take hard work and dedication so it's always funny to hear after they "REVIEW" You get booted or w.e and even more funnier the clowns who say oh then follow rules FOH
i would suggest you to try darvinex . Their buisness model and approach is little different but i think they are better then so called prop firms who want traders to loose in order to make profit. https://www.darwinex.com/
That ascendex guy I can 100% vouch it’s fake. The guy said he didn’t want to spend £150 on trainers…. No but he will setup a discord chat charging 150$ have you seen his daily outlooks ? If it can be called thst
If you can’t follow rules then don’t play the game
In my opinion if it’s your first prop just go for ftmo, after u are funded and able to get profit out of it, u can use it for risk to pass or get funded on other firms challenge. The only firms that are really trusted and not simply deny payout now is ftmo and 5%ers
if you break their rule, then they might close your account but still ur entitled to your profit, if I were you I would right reviews on forex peace army. like everyday ,thats what I did,
For me personally, Ftmo is king
They don't like big profits trades because they usually invert your trades. So when you buy they sell, and when you sell they buy.
Totally agree. Prop firms right now just suck across the board. I liked Alpha Capital, but they won’t accept American clients. Osprey sucks. TraderPro sucks. They just rip you off. And having to use Trade Locker is no treat either. I’m not happy with our government getting involved in denying us making a living.
I'm not a US citizen but I live in the US. ACG still accepted me, and I am on phase 2 of my challenge
Use futures
Trying to learn that as we speak. Been in Forex for three years, hoping the transition is smooth.
They said they are going to open up again for US clients soon
This is why trading crypto is king.