Forex PROP firms

Well I can tell you what happens once you stop given them money! With that said you wont find their video archive on youtube. And my trading plan is better for it.

Hello liberty.
I joined a prop fund last year albeit amongst many negative comments last year. I did my research about them before joining to try for myself. There are so many of them out there that offer courses or you have to go through a trial period first and I didn’t like that.

Luckily I found Blufx. They on the other hand give you real cash to start trading immediately and the subscription fee is less than 400 USD so I’m wondering how these prop funds you mentioned charge such huge amounts for small accounts.
I have been able to hit the target of 5% twice now and get paid also. And I’ve met alot of people in our community who have been paid too.

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Hi. I will like to know more about this Blufx you are talking about. Do they have country restrictions? Can i trade from my country in Africa?

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Sure you can dear. Coincidentally i am also in Africa. Ghana to be precise.Trading is done remotely. I have had to travel out of the country for about a week and was still able to continue trading.

I am not familiar with any restrictions by the company like you would have with a business like PayPal for example. So they are fine with that.You need to check if your country has any restrictions to prop funds but i doubt though.

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This is great. Thanks. Im from Ethiopia. Do i need to invest some money with them to access their own money?
What is the biggest lot i can trade with please?

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Hey Phiri. Nice. I have visited addis ababa once before. Beautiful place.
You only need to pay for their packages. £99 and £249 to get either $25k or $50k accounts. So if you think you need to invest a large amount of money with them, no. This is a much better deal right?
The lots depend on the pair, you can google search for their margins ad you’d find a blog post with it.

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Ok. But i don’t live there though. I live in a not so popular region.
I like the sound of this. This is much more affordable. I can use the rest of the funds i have saved to fund an account with a broker and copy my trades to one or the other. That can be allowed right?
I have gone through the margin requirements and all. I don’t like that i cant close partially though. Opening several positions looks cumbersome. But its something i would have to get used to as my strategy requires partial closing.

I cant say. you could email them and find out when you are ready.
Yeah. Partial close is something that needs to be worked on. The CEO talked about allowing it quite recently. So it wont be long before you can get to do it the old fashioned way.

OK. I have emailed them to ask. Do you know if they have an efficient customer service? Most Forex companies can be useless in how they treat their customers.

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The customer service is ok. Just be patient and wait for a reply after you email or chat.

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hey @phiri22 have you signed up? are they real?

Yes.I signed up last week for the 25k account to test the waters. when i saw that they did check out, i upgraded to the 50k account. It’s going well. Iwas given a real account and not a demo.

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Ok. I like the sound of this. Does the 50k account allow holding trades over the weekend?

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Ok. Yeah. I have made some money. I hope to hit the 5% target in 1-2 months.
From what I read, is only when you get to stage 4 in account growth or if you trade with the company consistently for 6 months without breaking the rules I think.

I am also very interested in “prop trade”. I guess you’ve done prop trading, right? Do you think “prop trade” has any disadvantages to yourself? Thank you

Everything has its advantages and disadvantages. What matters most is if the advantages far outweigh the disadvantages. And in this case it does. So I went ahead with it.
I spend £249 to access a 50k account with a buying power of 150k and a drawdown of 5k. I normally can’t afford a 3k account on my own!

Thanks. I’m considering the $50,000 account over the $25,000 account. I’m wondering if my swing trades of 2-3 days can work with it as I think I read that I’m to close my trades everyday or so

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Not entirely true. The $25,000 account is better suited for day traders and requires all trades to be closed by the end of the new York session daily. The $50,000 account is well suited for a swing trader like you say you are as you can hold trades Monday to Friday. So you can go for the $50k account. Good luck!

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Thanks a lot. This is so clear now. I will sign up this weekend. I need every luck I can get.

I sent an email the other day and I never got a reply. Is that a good customer service?