FTMO vs 5ers vs Monevis Brokers - Your thoughts?
Thank you guys.
5%ers open actual funded accounts with an actual broker for people who pass.
No way of telling whether FTMO do, but thereâs certainly no evidence that they do, and they donât even claim to, and thatâs exactly what got MFF into such trouble.
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Okay and what do you think, who should regulate prop trading firms? They operate based on their own license, yes or not? (and Monevis has their own MT5 license, right?) Correct me if I am wrong, thank you.
What do you really mean by âlicenseâ?
All that means is that MetaQuotes has given them permission to use their proprietary trading platform, MetaTrader, because they pay a fee to do so.
Itâs nothing âofficialâ or âregulatoryâ or âauthoritativeâ or denoting âapprovalâ by any authorized institution or government or anything like that at all. Itâs completely meaningless.
Monevis is also certainly one to keep well away from, for many other reasons, but above all donât imagine that them being âlicensedâ (by MetaQuotes, lol!!) means anything at all.
Of the three youâre asking about, Iâve heard nothing bad about the 5ers, by the way.
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Thank you for your replyâŚbutâŚ
Could you tell me which kind of license (from the government) the 5ers have, please?
Btw: I have never heard that the government regulates prop trading and you? 
I think heâs just trying to make this Monevis thing sound somehow legitimate, which it obviously isnât. (Might even be trying to spam it - I see he was just banned from ForexFactory recently, and they all know itâs way easier to spam, here ⌠)
As we all can see, your knowledge has ended⌠Sure. I got that⌠Thank you, for your âvery valuableâ answer⌠It is really funny that somebody with no photo (having a fake & anonymous profile) called somebody a spammer⌠sad but okay⌠hehe
Guys, if you are not prop traders or if you have ZERO practical experiences with the companies, I have mentioned above, please do not spam here with absolutely useless âreviewsâ. You are teoretics. You are googlers only⌠You shoud not comment anything you really do not know at allâŚ
Your advices have ZERO value to me & other folks on this phorum so far⌠Get better guys!
Itâs hard to choose between 5ers and FTMO, have accounts with both of them, I would say FTMO is harder to pass for novice traders due to some strict rules, both companies have long history, so I would say itâs safe bet with both.
Never heard anything about Monevis Brokers, but since testing prop firms is my side hobby and after checking website they have own MT5, I might give it a shot on a smallest account and update you later on the process.
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I donât know about 5%ers, they claim to fund real accounts, as do Lux so that is safer if true.
FTMO donât create real accounts, theyâve been outed several times. They make money out of people failing the challenges. They then stop your account for any number of reasons if they think youâre going to be consistently profitable.
Iâve heard of them stopping accounts for trading too aggressively, which is ironic because the only way to pass the challenges was to trade aggressively. Thereâs a whole myriad of ridiculous reasons for kicking out profitable accounts, and anything you made is taken too.
They need some people winning to keep the suckers coming back. Thereâs a documentary on the BBC called Instatraders, I suggest you watch this before considering a prop firm
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They donât just claim to: they actually do it: a real account with a real, regulated broker whose customer support you can use.
(FTMO donât, and donât claim to. That would worry me.)
Well, I donât want to take your illussions, but 5%ers are not using a real regulated broker, they just using own licensed MT5 servers same as FTMO, and actually same as Monevis Brokers mentioned here. There is no difference between those 3 in this regardâŚ
They use FivePercentOnline which is not a real broker but their License registered in israel. You canât open account with that broker without 5%ers. Donât know from where you get the information that you can use a customer support fo FivePercentOnline broker, since itâs the same firm that own 5%ers prop firm
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Ok, thatâs changed, then.
When I asked them, they told me exactly what I said above, and that was also what it said on their website at the time, and what someone then funded by them confirmed to me.
This was a while back - things change.
No, that wasnât what they told me. They were using other broker(s) then.
FTMO used to be the same (they even used to give their customers a choice of which broker they wanted their account held at, both for the challenge and the funded account later, if they passed it), but I know thatâs not still the case now, with FTMO.
This would completely put me off either company, because it seems to be a big part of what got MFF into such trouble: they were their own customersâ âbrokerâ (I.e. counterparty) and that obviously doesnât set up a situation which incentivizes them for their customers to win (which is what they dishonestly claimed).
It turns out that Axi Select and Alpha Capital Group are the same.
Axi Select claim to be FCA-regulated, but theyâre lying. Their sister brokerage, Axi, is - but Axi Select is regulated only in St. Vincent and the Grenadines, which as we all know means unregulated.
They both tell the same âwe win when you winâ story that got MFF closed down. Both are actually counterparties of their own customers.
Lux Trading, it seems, do open real, funded accounts for their successful challenge-takers, and with a proper, well-regulated broker, too.
Apart from them, maybe, with everything else thatâs going on right now, nobody should be trying for CFD funding, when the futures prop firms (with the obvious exception of Apex!) are so much better, easier, safer and more reliable in every way.
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I wouldnât call Apex a âfutures prop firmâ really. Theyâre latecomers jumping on a bandwagon as an addition to CFDs.
There are more and more âpayout problemsâ there, now, too.
(Nobody who does any due diligence at all about them and their owner would touch them, anyway.)
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