Going offshore to escape the CFTC

Now that would be perfect :+1:

EDIT; Suppose you receive an email saying you received bitcoins, but because of the low fee it could take days to receive your bitcoin, or if you want it instantly, here’s the fee.

The biggest roadblock to mass adoption (at the consumer level) is the ability for the user to have control over funds. Regardless if there is a mistake for whatever reasons, there needs to seamless control.

Right now the process has to many unintentional boobytraps that can vaporize your funds.

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Yes, or denominations you can choose from. Ideally any and all should be under a 24hr period.

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Moving funds in today’s world should not take over 24hrs or the most 72hrs, Preferably within 30mins

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Exactly, it’s freaking 2023, not 1993 trying to connect to AOL on a dial up FFS.

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lmao, It seems this is the only way to avoid using the banking system to send and receive crypto. but an upgrade is needed

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Fees will fluctuate as time goes on. This should not be a complicated thing. If the broker is not applying enough for fees, then it should be a high priority for them to remedy that.

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Anyone tried ProsperityFX funded challenge? 365 days challenge and then 365 days verification. Sounds too good to be true.

Interesting. It looks like a way to find money managers. I remember back in the day Tallinex had a whole money manager platform where clients could invest. It was sort of like MQL5 Signals, except it was more like a PAMM account. I wonder if PFX is going to be doing something similar.

They are chasing the funded trading scheme and its utter dog :poop:

They have lame “consistency” rules that are garbage. There are better options via FTMO, MFF, etc

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Yes. This has been discussed here before. The broker funding options are just toilet.

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These type accounts are not meant to be invested in by outsiders, but to trade the broker’s funds

This is pretty much what prop firms do

Yeah for sure this program is just for those funds. I would even go so far as to state they will be accepting fees to trade and then provide them a B-Booked account, honestly. Since the program is for 365 days of trading, I was positing that perhaps those who perform well may be part of a “money manager” PAMM-like program later on. Complete speculation on my part but it reminded me of what Tallinex used to do.

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There is a PAAM account program offered by LQDFX where you can invest and let a money manager trade your funds on your behalf

Thanks for all the feedback. The consistency rules themselves don’t look unreasonable (weed out the people that just got lucky). However, it would suck to pass the challenge only to be voted to lose by a committee. Don’t like that at all.
Do they refund your fee at least?

Still, for me personally I can’t consistently make 9% profit in two months to win the MFF challenge. It might or might not happen. If I could make 9% profit in two months consistently, I would have retired already.
On the other hand, I can make 9% in a year much more consistently. It makes PFX challenge tempting, even with the consistency rules.

There are prop firms that offer 1-year and even unlimited time limits for challenge phases. Most of them are relatively new to the scene, though.

There seems to be little feedback, (good or bad) from anyone who has attempted with PFX. Give it a shot!

This one statement in their rules would be my concern, leaves the door open to rule against you for any reason they see fit.

*** After reviewing your accounts, our team will determine if your trading strategy suits our risk appetite. If so, we will grant you a Funded Account. ***

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Yes. Any broker/prop that is offering funding, but has a review process in place where the metrics or criteria are not clearly defined and/or not even written at all, can seriously kick rocks.

What a massive waste of time for traders to have to find out, after the fact, that their trading is not suitable.

Can you imagine spending a month or more of your time, enduring all of that stress in order to pass the challenge phases, only to be told that you are rejected at the end of it for no specific reasoning? Meanwhile, your money was held up that entire time, by the way.

Imagine if you failed the challenge a few times before all of that? Seriously stupid.

This is one reason why most broker offerings are puke.

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The sad thing about forex brokers is that when they first started offering retail forex, they were shady. This started with FXCM and forex com and continued over time with many others. Now that they are getting into the funded challenge arena, they are starting shady with that. They can never start something honest.

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