@Paulscaff1 just would like to know how the FTMO program is going?
I manage to find my way to be consistence and profitable and now i`m looking for a funded account.
Thanks
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If I talk about the current scenario I am not familiar with any broker(regulated) that is providing funded account, even the bonus is restricted by the regulations to protect the investors.
I’ve no experience with a funded account, but the business model looks legitimate. The company is diversifying risk by allocating it’s fund to different people who can successfully trade. There’ll be limit to the max. loss each fund can take. If that limit is reached, the trader loses the fund. This way, they protect from losing all of their money. If one million is allocated to a single person, & he/she is having a bad month, what this means is there is no profit from this one million. But if,this amount is split among, lets say, 10 traders, the possibilities of all of them facing a bad month is very low as they’ll be trading different strategies & hence the same one million could pull a profit… This is the thought behind this Funded Account business. Also, the trader is getting the oppurtunity to trade on a huge fund, risking a small one-time fee, which in most cases, are refunded during the first profit-split. A win-win deal for both the participants, in my view.
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My friends and I formed a forex trading course website whereby we offer begginer visual course for free but the advanced we charge a small fee. We usually risk only 1% aiming for 3% and above in profits. We do offer the signals as well. All i can say is that ftmo is the way to financial freedom. risking 1% and only taking the best of the setups with our strategy or signals. Am about to finalise my 10k challenge, 1 more trade and am in profits at 10823$. I’ll attach some images for you to see. Thanks to our coach and babypips website.
Current status on my mt4.
All trades risking 1% only.
Trading with an open tp and breaking even as the trend moves
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Am so excited. I hope to finalise the challenge this week or next week.
Note that the strategy may give one or two moves weekly or more in a good week.
I wish you all success
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I’ve never met any broker who provides its trders with such option as funded account, however it seems to me interesting to use such ones. Mostly, such accounts would be used as a real training accounts and there would be no need in demo at all I guess. You would be able to get real emotions while learning trading on such accounts, but I don’t think such accounts would be provided for training purposes. I believe such accounts will exist to boost them, like a professional trader boost this account for a particular percentage of earnings. It seems to me a coolk business model, hope we’ll see such model in future.
According to your words, you said that you have been scammed a couple of times, then you ask a question is it good to rely on some brokers who offer funded accounts? I don’t think it’s a good idea. Maybe there are some brokers who offer such option, however in 90% of cases it’s a scam. Where did you see that a broker will give accounts with funds for trading? So, of course you would better trade by your personal funds rather than rely on a shady broker. If you’re too unsure in your trading skills then you must trade on a demo account until you get more confidence. It’s better than you face an oridnary scammer.
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FTMO isn’t a scam as such, it’s just not exactly what it advertises.
You pay to do the challenge, and if you fail, they keep your money. I think about 10% of people make it past this stage. You then have to essentially do the challenge again, so verifying that you weren’t just lucky last time. Not sure what the pass rate here is. Then you get a demo account to trade and you get 70% of the “profits” on this account.
Analysis has shown that the money from people who fail the first two steps is much greater than what they pay out for those that are profitable. So they never actually have to put your trades into a real account for them to make money.
They claim that they use the demo account as a signal to make trades on a real account that matches it. Sounds very sketchy to me. I guess they could evaluate that if you make a profit over a long term, then it is worth it. But still some people will have only got this far through luck and not make money anyway.
But they are known to pay out what they say, which they have to do in order to get new people to join. So whether you’re really trading or not, they do appear to be paying out what they say.
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Hi,
I don’t know where you see funded company take 30% to 50% of your account and copy your trade.
FTMO - MFF or the THEFUNDEDTRADERPROGRAM are perfectly legit and they offer up to 80% if you pass the challenge. Even beginer can get the funded account, it’s not hard. I’m on it.
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FTMO or MYFOREXFUNDS , both great
FTMO and others aren’t a scam but passing the challenges is difficult and their business model is based on the fact that most fail the challenges on the basis that they fail with risk management (many of these companies will give you another free go if you are within the risk management guidelines but fail on profit targets).
Personally I might prefer to grow my own pot. If I do go down the prop firm route it would be to fill my own pot quicker and then trade my own funds.
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Yea, I always find it better to trade with my own funds. Maybe I am greedy to share with other 
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Not sure it’s a greed thing or an autonomy thing. When it’s my own funds I know I am in control of it. Less hoops to jumo through as well.
Well, that is quite true. Plus you get this authority that it is your fund so it is quite your responsibility to maintain them on your fund. I guess you are not wrong about autonomy one.
I believe that funded accounts are good, however you’d better use your own funds because it won’t be so sad to lose your own money, but the funded ones. In my opinion, such a function is for those traders who like taking lots of risks. Guess that rookies should never pay attention to such weird offerings, because it confuses them a lot. When you are trying to trade your own money, but when you are trying to trade someone’s money it can lead to bad consequences, because as a rule there are lots of conditions towards funded accounts. So, I think traders shouldn’t think about such things, because they possibly can bring lots of harm.
Those scams are plenty and very appealing
If you can trade well woth funded accounts you can make a lot of money and bonuses. If you have a big bank then trade yourself
If you trade with a funded account, you get direct access to substantial capital from day one. There is no need to risk your own money.
I think It depends on your preference. If you would like to become a fulltime trader, better get a funded account to scale your capital which is difficult if your trading your own funds, unless ofcourse you have the $$$ capital to trade. We all have the same goal as a trader. To have financial and time freedom. Lots of factors to consider.Emotions, Time, Skill, Discipline, Attitude, ETC. IF you are ready to be a professional trader and handle prop firm capital, there’s a lot out there. I recommend Traders With Edge though based on experience. Have you heard of it?