i am saying that FTMO is a scam, JUST LIKE MYFOREXFUNDS.
now go ahead and lullaby me into believing that aint so.
Why would I want to do that? I know nothing about FTMO. Maybe they are a scam, maybe they are not. I have no idea!!!
But I AM sure that they will have to undergo the same scrutiny that MFF met with - and hopefully all prop firms will have to go through it and it will result in regulatory control (for what that is worth!).
It may well be that any regulatory framework introduced will render the ābusiness modelā unworkable and they will all disappear. But that is still a open question! Either way, it should end the Wild West shambles that we are currently seeing in this industry!
I know. They are a scam. I understand. I was saying a few years ago LOUDLY that Myforexfunds is a scam.
Then it is good that you bring it to peopleās attention. The more aware potential traders become the more likely that they will keep their money saf(er).
Hopefully, you have also passed on your evidence to the appropriate authorities. I may be wrong, but I have understood that the investigations into MFF were initially prompted by outsider evidence?
Yes I know, I see plenty of prison videos.
nah. i dont have time to navigate the red tape of the cftc or the fbi or whatever.
i am just telling you how to tell that ftmo and the other āpay to play a demo challengeā are scams.
ask ftmo the following questions:
-
how do i know that you really have a mountain of cash with which to fund traderās live accounts. (they will change the subject or tell you that you are being nosey and it is none of your business)
-
where are all of these LIVE FTMO TRADERS? i would think that there would be a few prancing around in these forums(such as babypips and forexfactory and forexpeacearmy) talking about their winnings and showing pics of their trading setups, etcā¦ talking about their winnings, etcā¦ but all we see is commercially made testimonials that are complete nonsense on youtube.
it is obvious to me why MYFOREXFUNDS and FTMO operate from countries where they are outside of the reach of the LONG ARM OF THE LAW, it is because they are criminal scammers.
done.
if you disagree with meā¦
- show me that FTMO has a mountain of millions of cash with which to fund their LIVE ACCOUNTS with.
i dont think it existsā¦ they only want your fees, just like MYFOREXFUNDS.
THEY ARE CRIMINAL SCAMS.
It was actually this news that woke me up to this industry. I hadnāt 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 ā¦ 
It was only then that I started to think about the mechanics of how these functionā¦
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:
for some reason, his myfxbook shows NEGATIVE TEN PERCENT GAIN.
just fyi, i have followed his thread since it began and even tho he did pull off some impressive movesā¦
IF YOU ARE THINKING THAT YOU WILL PAY A FEE TO FTMO AND THAT YOU WILL END UP AS A LIVE FTMO TRADER FOR MORE THAN A FEW MINUTES, YOU ARE WRONG.
IT IS A SCAM.
THE other popular scam in the forex community is the offshore brokeragesā¦ that is a criminalās dreamā¦ it is a license to steal.
also a scam.
hey, did you know that i have spent the last twenty years designing the holy grail of forek trading? and i dont care if you believe meā¦ cuz i aint giving you anything anywaysā¦
What on earth is a negative gain? 
I havenāt gone as far as watching his myfxbook. I am not that interested in this subject. I used to follow his threads prior to this and I am interested to see how this attempt works out, thatās all. He is a very likeable character and his threads are entertaining and he works hard at trying to get somewhere in these markets.
I have no personal interest in taking on one of these challenges. I have my own personal account so why share my profits with someone else! In the early days of watching this industry I did consider that it could be a big benefit to traders with significant capital tied up in their accounts because they could transfer their own funds to some other type of business and trade a companyās money instead. Also, that way, they could reduce the risk of problems with their broker. But for such traders, their broker risk is nowadays fairly minimal, but anyway. But now, I think that was all just āin theoryā.
But Iāve said enough here for one evening, so Iāll pass the baton onā¦
not to me, anyway
iāve had this mrharrypooter guy on permanent ignore under 6 different usernames now, all the way onwards from silverf466 - he says the same words in the same order, with the same expressions (and even sometimes the same spelling mistakes) and speaks to the same people on the phone (lol), and confabulates the same bullsh!t āinformationā and has the same prejudices and ignorance and silliness every time around
EVENTUALLY, every single time, the moderators put all the information iāve shown them all together and get rid of him
but meanwhile itās VERY, VERY tiresome - especially this time
i might come back when i hear heās gone
until then have fun as he and one or two others destroy the little thatās left of this forum by driving away the few remaining active participating members 
they may also have FTMOās legal department serving a notice on their hosting company on Monday, i wouldnāt be surprised
one way or another, i think they need to find a secure and permanent way to get rid of this guy, for their business to survive - either that, or change their business model completely (also might not be a bad idea?)
ciao for now ā¦
i should know better than to engage amateurs in a chat about scams, because the amateurs tend to believe in scams.
if you dont care about this topic, as i do, then please refrain from assaulting me with your lengthy responses.
FTMO IS A SCAM.
FTMO HAS NO STASH OF MILLIONS OF CAPITAL WITH WHICH TO AWARD LIVE ACCOUNTS TO TRADRES.
FTMO IS A SCAM.
THAT IS WHY THEY OPERATE IN SOME REMOTE COUNTRY THAT IS A HAVEN FOR SCAMS.
how can you be NEGATIVELY AGAINST SOMETHING?
you see, that is similar to having a NEGATIVE GAIN.
LOLOLOLā¦
Quite obvious if you stopped to think about it. E.g. If someone turns down a good job just because they are scared to make a change, then I would be against their decision in positive sense. On the other hand if they were taking a bad job then I would be against it in a negative sense.
I write long because I always wish to justify my views. Whether you or anyone bothers to read them is purely your choice, I really donāt care!! Unlike you, who seem to think that just leaving your caps lock on somehow makes your unevidenced claims proven. 
With the greatest of pleasure! 
That is interesting @flamingoproxy. I donāt spend enough time here (for obvious reasons!) to have noticed. But I guess it is historically not so uncommon as one might expect. Thanks for the heads up! 
Donāt know why potter is in a tizzy - on line āpropsā are not prop firms they are Scouting Firms.
The business model is simple - main source of income is the evaluation fee, the 10% or so get paid from this income source - the few that are actually consistently profitable - trade with them.
So what about the guys who didnāt make it -were they āscammedā?
Well they joined on a challenge - if they were not fed fake info, maybe they learned a little about discipline maybe they just gambled and lost - then again maybe the market is a scam?
Or again maybe we are all a little potty for being in the circus in the first place
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They say that if you pay a fee to play a demo challenge and if you pass the challenge that they will put you in a live account.
Where are all of the live account traders?
Answer: nope.
There are no live accounts with myforexfunds, ftmo, maverick, etc.
And now myforexfunds.com is soon to be under indictment for fraud.
Ftmo is next on the chopping block and will be indicted for some form of securities fraud, which is a federal charge and is punishable by fine and/or prison time, as is the case for myforexfunds.com
All this back and forth makes me wish that I never created this thread.
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If only it was as simple as that - but it isnāt.
MFF is accused of applying various techniques and manipulations that make it harder for traders to succeed in their challenges. This is wrong, but apparently very profitable and outside current regulation:
The complaint also alleges that Traders Global actively minimizes the likelihood that customers trade profitably by using pretexts to terminate customer accounts, misleadingly assessing commissions that reduce customer account equity, secretly using specialized software to cause customer orders to be executed at worse prices than appeared to the customer at the time an order was sent, and handicapping the extremely small number of successful customers to decrease customer profits and increase customer losses."
If it were just a challenge on a demo account to see if a trader can reach a pre-set target and if all the rules and restrictions are published upfront then I donāt see any problem.
But that was apparently not the case with MFF and, given the speed with which this basically unregulated market is expanding, there is a great need to investigate the operations of this industry as a whole.
If the result would be a regulated workable model then it is a great concept.
This is a trend that has been continuing for some time. The current forum is no comparison with what it was some 6-8 years back. There are few worthwhile conversations (like this one should be) and even fewer competent traders (if you can drive a car you easily spot the learners in the traffic even if they pretend otherwise).
But there are other sides to this site which are good and useful. E.g. I use the calendar here daily. It is very clear and user-friendly. But I only look in on the forum if I see a reply or ālikeā or if I have a dull moment. I am rarely inspired by what I see.
It is a pity, there seems to be a clear drift across social media as a whole towards one-sentence conversations. Everything is only skin-deep and superficial. Forums could/should be a place where topics can be discussed in depth, but no one has the patience for anything beyond two sentences.
Perhaps that is one reason why so many get into dodgy companies in the first place.
But maybe Iāll just stick to the calendar instead! 
Aye a regulated entity has at the very least to comply with regulation - though oft times much can depend on where in the world the regulator is domiciled.
In the case of MFF the question was asked back in June āis MFF regulated?ā
The answer in Forex Academy was " MFF Forex is not regulated by any major regulatory bodies, which may be a concern for some traders"
Being regulated doesnāt automatically safeguard us against malpractice - Iād say reputation is maybe one of the characteristics to look for in broker choice, and maybe see thru the marketeers with flashy come aboard videos.
Edit: I posted on another thread re on line āpropā firms - if guys google āScouting Firms FXā theyā get good insight on the term āprop firmā and what they are - Jack about 3 years agoā¦
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