It was actually this news that woke me up to this industry. I hadn’t really heard of prop firms until about the start of this year and initially I thought the concept sounded very innovative : Match those with the money with those with the trading skills and share the profits.
But the more one hears, the more suspect it becomes. When talk started that prop firms are only interested in the fees, I dismissed it because I thought the amount must be insignificant considering the costs of running such a business. Afterall, who would want to scam for such small sums, I thought - but then came the MFF figures and … 
It was only then that I started to think about the mechanics of how these function…
Interestingly, I have been following this FTMO trader thread here on BP. This trader has been around here for a long time and he is not working for FTMO. We will see how it ends up: