here is another prop trading company
This is a point I learned on the NNFX YouTube channel - you can have different brokers for different trading instruments because why not?
For instance, Iāve been playing around with HankoTrade this weekend, and Iām really not seeing anything I like as far as indices or forex trading, but their spreads with BTCUSD are ridiculously tight compared to every other broker I have an account with, so Iām thinking of just using them to trade crypto and nothing else, because why not?
2 Likes
[side topic] Just curious if you agree with everything he teaches? Isnāt he 100% indicators? I saw a video where he taught support resistance, candlestick patterns, and other price action methods are bad which I completely disagree with. He also says you can only trade on the daily timeframe; I disagree with that as well, so I stopped following him. I did like some of his videos, but just so much info out there Iām just focusing on the Proās that are more aligned with my trading style. Also how the heck would you pass the FTMO challenge trading only the daily? Donāt they want you closing out your trades at the end of the day? I like the idea of different brokers for different instruments, and I think itās cool you are pioneering this idea on this thread.
I think generally NNFX is pretty good info. Yes, heās indicators only and the Daily timeframe. He can be a bit militant in āmy way or nothingā, but he is successful and has produced a lot of successful students. Iāve sort of gone my own route now, but his info on the Big Banks and certain indicators like the ATR I use every single trade. But at the end of the day, heās just one trader teaching his own method - there are many paths you can climb to the top of a mountain, you just have to figure out the best way for you.
Also how the heck would you pass the FTMO challenge trading only the daily? Donāt they want you closing out your trades at the end of the day?
for the FTMO challenge you can keep positions open, but for their main account you canāt.
There are swing traders who pass the challenge, so you would need to adjust things to keep your trades open during the week then closed on Friday
1 Like
His insights on the ATR and Big Banks are top notch! He and and another guy I follow swear by the ATR; Iām also adjusting my methods to include it, at least for helping place my stop loss, so I donāt get wicked out. Thanks for further insight into FTMO rules!
On a previous comment you had about signing up for a broker just in case; too late for me on FXChoice 
. However, I did get in time for Tradersway.
2 Likes
i just open account with https://www.fairforexfx.com/ i have account with all offshore brokers that take us traders. 
1 Like
Prop trading is the new hot product in the market and this market is expanding rapidly.
FTMO seems a good option on looking around. I saw on Youtube lots of videos where people are claiming to have earned money, showing invoices etc.
But on digging further, I found some strange facts:
-
They provide a āDemoā account with āDemoā money in it. This is what they give us for prop trading. They claim that they ācopyā the trades from our demo accounts into their real accounts with Regulated brokers. Now we all know demo trades do not go to the LPs while live market trades do. You get slippage, dried up volume etc., so I donāt know how they manage transparency to trader around that. Further, I checked with some of the regulated brokers they claim to have accounts with and all of them denied having any association with FTMO. This makes me wonder if they are really earning through just the traderās participation fees and only giving us demo money to play with? And yes, probably some good marketing through lots of influencers?
-
Also their MT4 login detail does not work on MT4 downloaded from any website, including MQL. They say we must download MT4 only directly from their website. Why do you think this could be and if this is normal?
Any thoughts/opinions are most welcome. Who knows we might need another thread for trustworthy prop trading companies, with the speed this segment has been growing? lol
1 Like
Sweet! They are a MT5 broker!
1 Like
The option for another thread for prop firms came up a couple of months ago, but itās my understanding the majority of the community here (correct me if Iām wrong guys/gals) think prop firms still apply, as they help us āescape the CFTC.ā I have seen enough evidence that FTMO is the real deal from traders here and elsewhere to at least give them a try. However itās up to each of us to decide if prop firms would help us achieve our long-term goals or not. I know there are some folks here that donāt believe they would, and thatās cool 
1 Like
You guys have voted ā without even being asked to vote!
Kudos to you. ā Thatās how this thread is supposed to work!
At this time, the consensus is clearly to remove FX Choice from Group 1.
In case anyone else wants to weigh in on this issue, I will wait until mid-week before taking any action.
If the consensus doesnāt change by Wednesday, I will remove FX Choice from our List.
3 Likes
If you havenāt visited the Group 1 List recently, you might not know that most of the 13 brokers listed there have been reviewed, and their listings have been updated, as needed.
FX Brew is next on my list to review and update, later this week.
2 Likes
How are the live spreads with them? What kind of account did you open? RAW or Pro?
Raw Spread Account, look like pro and raw offer the same spreads
1 Like
If you scroll through this thread youāll see a couple withdrawal proofs and Iām sure there are plenty on YouTube, Google etc.
And the Demo account is great from what I can tell because that means US clients donāt have a live account with those brokers, so the CFTC can bugger off.
But I would welcome with open arms any proof that FTMO isnāt what they say they are, would save lots of people some effort getting involved if they arenāt real.
2 Likes
Both their accounts seem to have the same spreads, no difference on any pair seen yet
1 Like
I wouldnāt argue with your 20% US clients composition for offshore brokers
There isnāt any data to look at for this
But I definitely agree that offshore brokers even if compelled to shut doors to US clients by CFTC will not default on paying US clients, simply because their business would not close completely even if US clients are not an option for them any longer
And Yes social media platforms are quite successful in spreading the word about any brand whether good or bad
3 Likes
Yes this is definitely better news on the offshore broker front.
Iām quite impressed with the spreads and execution they offer at TurnkeyForex on the MT4.
I would definitely try the Act Trader platform if they offer it
I personally prefer Act Trader over MT4
I agree, its a great way to save your ass from CFTC. My questions are still unanswered though, Why all the brokers listed on their website say we dont have any relation with FTMO. And why only their exclusive MT4?
Anyway prop trading is not my cup of tea. Iād rather trade directly with my own money even if its small, instead of paying off fees again and again in a bid to win a competition I cant totally trust. But each to its own!
Have you tried a live chat with FTMO to see if they will answer your questions? Iām not a member yet, so I canāt give any answers. But seems like maybe FTMO is the prop firm, and the accounts with the brokers are simply held under other names or entities? And since MT4 is arguably the most well-known and most-used trading platform in the world, thatās probably why they prefer it.
1 Like
I am new to Coinexx but I am bit afraid as I have heard that they take too long for withdrawals?