I thought people might be interested to know that among the ever-increasing reasons for CFD prop firms to refuse to pay out the winners, are allegations of “arbitrage between accounts.”
This probably does sometimes happen, but overall (as always, for retail traders trying “arbitrage”) very few will ever be successful with it anyway.
The salutary lesson, here, is doubtless to stick to futures prop firms (probably “apart from Apex”!!) and avoid the CFD ones by whom it’s increasingly difficult to receive payments.
More here -
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I will start this way, after I am ready, after I practice on the simulated accounts.
Do you wish to recommend one prop firm (futures), please?
Sorry, I’ve never used one.
I understand that Tradeday and Topstep are both long-standing, reliable, honest and respected firms with very good reputations. Both open genuinely funded CME accounts for their successful traders, and that’s very easily verifiable, of course.
Topstep does that after people have got started and shown some profit, because they want to be a partner, not a counterparty. Tradeday gives its traders the choice but reserves the right to move people to a genuinely funded CME account if they look profitable, for the same reason.
So they’re both firms that are incentivized for their traders to win, not to lose like the CFD prop firms (and the CFD “brokers”).
Topstep has even won a US-government-sponsored industry award, in the past.
For myself, I’d look no further than those two firms.
But I think - as others here have often said before - that even those two probably make most of their income from the repeated fees of people trying and failing over and over again, so don’t start paying them until you know you can pass, under their rules. And read all the fine print carefully!
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