Only reply if you’ve taken a prop firm evaluation, passed, and started trading! Doesn’t matter if you’ve lost or made money! Just wondering how that experience went and how long it took from start (preparation) to finish (when you started trading).
@BBFx27 is funded by MFF and knows stuff about funding companies, as you can see
note that FTMO, in a “big surprise move”, has recently dropped its time-limit, which some people might think makes them first choice(?) …
sorry, not me - but i thought my reply might help/interest you, anyway - apologies if not!
Interesting, I didn’t know they dropped their time limit. Planning to go for it in 2024, didn’t decide on prop firm yet but hard conditions are no time limit and integration/synchronize with Tradingview.
i’m still on their mailing-list from when i did all my research last year, got the email with a link a few days ago - i was very surprised indeed: their time-limit was kind of my only reservation about them (albeit a pretty big reservation) - i suppose there’s still the issue that MFF ask for 8% profit and FTMO want for 10%, but without the time-limit (which MFF still has) i thought that’s maybe no longer a big deal at all?
both these companies are also two-step evaluations, but with only 5% required for stage 2 of each, but again, without the time-limit, who really cares? to profit from a funded account, you’re going to have to be able to do it a whole lot more than twice, anyway (i don’t really follow the logic of people being in a hurry to qualify for these accounts: you have to be able to pass, to do it anyway, and then you have to be able to trade safely and profitably (which is another way of saying “slowly”?) to make it worth having done it - that’s how i look at it, anyway) i shouldn’t really be posting anyway, because Ponponwei did say “only reply if you’ve taken one,” sorry, @ponponwei !
LUX trading offers the same, which I’m currently undertaking, and if and when going live after passing the evaluations stages it is a genuine first stage LIVE $25k account that some other prop firms don’t provide.
I’ve looked into Lux, but decided to pass. Find it hard to trust them, they seem a little dodgy to me. No transparency about the real founders, the registrered owner (chamber of commerce) can’t be traced on the internet, and the representative of Lux just doesn’t feel right. Anyways it’s just my gut feeling, haven’t heard anything bad about them at all and seems they pay out, I just decided not to deal with them.
I am trading at the5ers and rigt now i have a $20.000 funded account, they pay me each 14 days if i withdraw my money.
I never had any problem, only good things to say …
Lol it’s not a hard rule! I only said it in case our bot friends show up!
What’s your timeline looking like? Aka when does the evaluation stage end?
How long have you been with them?
That’s amazing! So in your situation, how much time do you spend trading (maybe per week?) and is it all just with the5ers? Or do you also have another trading account that’s not funded?
I only trade with them for now and i am in trades with Day candles i check up on each day 1 or 2 times and else i see if there is some in/out opportunities on the products i follow each day and for that i use London open as my anchor if can say like that and my TF will mostly be on 1 hour TF and i go into the market on 5 min TF and let my trades run from there, but each day i setup my pairs starting from the Day candle and down to the 1 hour candles and take it from there if i can find trades in the market(s)
So that’s about how many hours per day in terms of setting up and adjusting?
I’ve also tried researching some of these prop companies that are supposedly UK based. But like you I find it hard to trust them. They all claim to be UK based and funding all these traders, but when you check companies house you can rarely find their companies. If you do find them they have either never completed a yearly tax return or they simply have zero money in their tax return. Makes you wonder, how can a company with no money afford to prop so many traders??
it doesn’t take that long since it’s the same thing I do day after day.
If i start on a new pair the setup takes me below 30 min and after that it’s just a matter of adjusting each day
Hello:
I started FOREX in January 2023, reading and completing the BabyPips course, at the same time I opened a demo account at IG broker. I got involved in learning MQL using MT4. I spent a lot of time writing and testing my own EA. On March 13, I started my first FTMO challenge and failed. I then took three FTMO free trials of 15 days each, passed the last two and felt confident about accepting the second challenge, which started on April 10 and ended on May 23. I spent 45 days (30+15) to finish the challenge. And then 21 days to pass the verification. On July 12 I got my FTMO account and started trading. In my opinion, I couldn’t do it without my EA, so it was worth all the time I spent learning MQL and developing the BOT.
I hope it help.
Prominent prop firm shut down and charged with fraud by the CFTC.
Wow so that’s literally about an hour per day max? That’s crazy fast!
I have a question: how can I check a prop firm? Which ones can be trusted and which ones cannot?
Please tell me what risks you have? After all, in essence, you are not using your own capital.
The flamingo has spoken.