Hi BP Community
While I was exploring the web, I found an article or report based on the statement of Angelo Ciaramello, CEO and founder of prop firm The Funded Trader (TFT).
You may view the entire report by clicking the following link
What are your views or opinions on the above report?
IMO it’s the sort of wildly unrealistic figure I’d expect to see mentioned on a site that’s so dependent on prop-firm advertising for its income.
I’d be astonished if the true figures are anything like the ones mentioned there.
I’ve seen from at least a couple of online sources I consider reliable, myself, that at FTMO only 1 attempt in 500 gets as far as a payout, and that’s supposed to be the best-paying, most-honest, easiest-to-pass prop firm there is, isn’t it?
(Sorry, I should define my terms accurately, here, as anyone should, when giving figures: the 1 in 500, I think, means “1 in 500 evaluations started”, not actually 1 person in 500. It will be more than 1 person in 500, admittedly, because most people try on multiple occasions.)
He’s disrespectfully but widely known as “Scamgelo” in many online places where prop firms are discussed. (A quick search of Forex Factory for the word “Scamgelo” will quickly show you what I mean!).
A less reliable source would be hard to imagine, I gather.
At Topstep, some years ago, the verified overall pass-rate for their “Combines” was independently audited and found to be about 20%. They claim that it’s increased since then. I believe that, because almost all the changes they’ve made would certainly seem to have made it easier.
This neatly illustrates the difference between the futures prop firms and the CFD ones, of course: as discussed in so many other threads, the futures ones genuinely want people to win, but the CFD ones are counterparties who win only when their customers lose (just like CFD “brokers”).
It will show some of it. Even searching just for “Angelo” will show the rest. What a sorry story. 
I was also surprised to read his statement that’s why I asked for the forum members’ feedback to get better insight about his claim.
However, one of my friends told me that: (who has been engaged with so many CFD prop firms and still trading with a few of them).
Hi @Sufshiken, the figure is actually lower than that.
Perhaps, he was talking about the CFD Prop Firm challenges.
Now that makes sense given the amount of money they make. They just acquired a broker I think.
Pretty crappy stat though.
But what a great business model.
Yes - they bought Oanda.
Yea, that’s big time!
Maybe some integration down the road? Or maybe just trying to get to new markets?
They say not. But who knows?