I hope some of you realized how ridiculous it is that you need a credit check for a used car loan but these prop firms are giving out $100,000 to $400,000 in trading capital with no credit check or collateral. 
And this is where we end up nowā¦
Press Release from the CTFC:
You all stay safe in these markets.
Unfortunately, trading against clients using a B Book market is how the retail Industry operatesā¦
The evidence against them is huge. They had contractors trying to keep traders from getting huge payouts.
CFTC charged themā¦ Apparently they were using software to disadvantage their clients tradesā¦
Where have we seen behavior like this in these markets beforeā¦
Shocking!
Recently, I heard a lot of complaints about MFF. I also plan to open an account with it.
One thing I wonder is that besides there are many other funds with similar forms, are they scams?
Everything that isnāt regulated is technically risky even if itās not a scam.
MFF was legit until it wasnātā¦
Prop firms are just extending the slippage scamā¦ A similar scam that Brokers offering MT4/MT5 used against their clients a few years backā¦
Boston Technologies Virtual Dealer Pluginā¦
My Forex Funds and The Funded Trader are not the only onesā¦ I notice that a lot of the CEOs of the prop firms are very quiet all of a suddenā¦
If this predatory criminal behaviour from this industry continuesā¦ I wouldnāt be surprised to see retail Forex via CFD closed downā¦ Permanentlyā¦
they are all deceptive scams.
they say āpay me to play a demo accountā, and if you manage to follow our impossible trading rules then we will award you a live account.
ALL of them operate using this deceptive modelā¦all of them.
no wonder they are being quiet.
they are scared to go to a prison and star in the prison beauty pageant.
I just watched something horrifying
I am not sure if they are all scams, but I do think they are deceptive in the way they are structured. They create a false image in the mind of the trader of what their account is all about.
Take, for example, a typical $100,000 account with a max DD of $4000 and a target of $5000. From the traderās perspective, it is not relevant if the $100,000 is real or demo, the reality is that they are trading a $4,000 account and not a $100,000. Once the $4000 is blown then the account is dead regardless of whatever nominal amount it is set up as.
But applying a nominal amount of $100,000 means the leverage and risk percentages are often deceptively calculated against that figure and not against the ārealā acc equity size of $4000. This makes the acc far more risky than the trader may realise. It also bypasses the max leverage percentages allowed by regulatory authorities (and the prop firms are not regulated as such anyway).
It also means that the target of $5000, advertised as (5%), is actually, in real terms, over 100% of the real acc size of $4000 (max DD before acc is closed).
So apart from the scam risk, it is important to understand what one is really being asked to achieve. It is a long way in real terms from how it may first appear.
I donāt actually know what prop firms do behind the scenes to sustain this business model. I believe that the prop firm accounts that are awarded are demo accounts, so how do they pay out on a demo account that never had a real money deposit when someone wins and who eats the cost when the trader loses?
I imagine it might be something like this:
So I guess a trader is trading with prop firm money even if they are on demo. I think the scam part comes in when the firm manipulates the spreads or prices on the demo account to force traders into drawdown or loses when the firm may actually win the trade on their side.
Not trying to be a conspiracy theorist, just how my brain interprets what this setup might look like as I look at it as an outsider.
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Just please donāt ask a bunch of stupid snoopy questions like you are some kind of regulator because we donāt play all of that around here
some are; some arenāt
some funding companies state openly that they are
some give successful customers a choice of brokerage at which the funded accounts are held and invite communication directly between the customer and brokerage
some give successful customers a choice between live (genuine, real-money, funded) or ālive-simā (demo) accounts
itās sometimes extremely easy to tell whether or not the account is genuinely funded or demo (for example, by temporarily opening a trade order far from the price to see whether or not it shows up in the exchangeās DOM - thatās objective and reliable and simply factual)
there are crooked/scammy companies (many of them!) and honest/ethical ones (a few)
just as with everything else
in general, of course, the funding companies offering futures accounts are far more honest than the spot forex ones (āsurprise surpriseā 
) as they have to be, since thatās a completely transparent market in which everythingās independently verifiable, the ābrokersā actually are brokers and canāt hold the other sides of customersā trades, and so on
the important, helpful things, when discussing the whole murky subject, are to distinguish between fact and opinion, between reality and prejudice, between objectivity and ignorance
There are legit prop firms, janestreet.com is one of themā¦
I do not think you will or can pay a fee to get into janestreet.com
You gotta have a high level math degree to get into that fun house, omg
ALL of the companies that charge a fee to pass an impossible challenge phase ARE SCAMS.
I see shills promoting these scams, but I donāt see long term traders in here that have been live trading thru FTMO?
ALL SCAMS
So stop it already . The jig is up. Many will go to prison.
Bye bye now, see you in sixty years.
If āpay to play a demo/pass a challengeā is not a scam, why arenāt there a dozen or more FTMO long term live traders in this forum?
tbh, I donāt think this type of forum is the natural hangout for a long term successful trader with a prop firm, and not therefore a good yardstick of their existence.
Yes, they do exist. But I donāt personally know more than a few such traders. They are generally more concerned with active involvement on their companyās private discords working with other prop members: Why would they want to come here and read this kind of thread, knowing that they will only get scorned and verbally abused and accused of being scam and frauds? It is of no interest to them whatsoever what we here might think and there is therefore no purpose in doing so.
However, I have seen personnel from at least one prop firm giving details of their membership success rate and it is not very high at all - and that is only talking about the first level passes. I doubt many get very far into the higher levels at all. I am not aware of any personally - but that proves nothing more than that I donāt know many people per se! 
One thing about scammers/shills is they know how to talk you to sleep .
I guess that would depend on the circumstances. But I would have thought they would be more interested in setting peopleās enthusiasm on fire rather than asleep. Enough so that they wouldnāt even think too hard what they are getting into until the money is already parted with! I guess anything goes as long as the victims keep comingā¦
so the cftc says that MYFOREXFUNDS scammed people out of THREE HUNDRED MILLION DOLLARS? and you cant understand that they would have a small team of clown shillls in this forum that promote them? similar to how you are now doing?
FTMO IS THE SAME SONG AND DANCE AS MYFOREXFUNDS.
EXACTLY THE SAME.
i deleted that video, because babypips does try to remain family friendlyā¦ and so i let you watch it and then i deleted itā¦
if you dont believe that that is what happens in prison, oh my gawd is you ever wrongā¦ prison is like a full blown adult entertainment facility 24x7.
With very few exceptions, when a person goes to prisonā¦ you will do one of the following:
you will host the beauty pageant.
you will star in the beauty pageant.
you will be a judge in the pageant.
some of those guys from MYFOREXFUNDS just might go to prison.
and if the CFTC brings charges on them and they are convicted, and they choose to hideout in a country where there is no extraditionā¦ now they have to live as fugutives and they cant ever fly into a country that is US FRIENDLY AND WILL ARREST THEM.
MYFOREXFUNDS might have just dug their own graves.
How on earth do you get to that conclusion??? If you read my posts you will see that I am negatively warning AGAINST them!
I am aware of how most people end up losing their money with these companyās and I was explaining how it usually happens through excessive risk taking. The failure rate is about the same as amongst retail traders in general.
They nearly all lose money - its just there are different ways they can do it! It is all very sad 
But there are some that successfully make it, at least for a while, and that is just another way that these companies make money. If a trader does succeed, then they gainā¦if they donāt then they gainā¦winner takes all!
