If he was using the same EA but losing and continuously buying more challenges, FTMO would have absolutely no problem letting him continue. But when it's time to pay out, suddenly the rules are applied. Does that sound like honest business?
I CANNOT THANK YOU ENOUGH for going through all these trials for us all in this community. Thank you 🙏 brother. Thank you for proving these company prop firms to be nothing but a scam who prey on customers. I never understood them neither, until this video. I’ll be more than happy to join Darwinex zero! We can use ANY EA!!
@@shawnvwyk Think of a 3rd Party EA as an EA you can buy, but other people can also buy it as well, meaning all you guys are entering the same trades with the same risk. FTMO does not want that. If you want to trade with an EA, only you can use that specific EA and nobody else.
Same thing happened to me. Once you request a payout from ftmo on a 200k account they want to make up a reason not to pay you. They're no longer the gold standard for the industry. Just sad. I know how much that hurts.
@@harrylloyd200 I passed two 200k evals in the minimum days. I'm not an amazing trader. I've just taken enough evals that it was bound to happen eventually. When the second one passed, FTMO sent me an email saying I can't go over 1% risk per trade. They did end up paying me out, but between the 1% risk rule and having to use dx trade I feel like I have 400k in funding that I'm not really using.
@@calm694 Sorry I thought I replied. I passed two 200k FTMO accounts in the minimum trading days. I'm not an amazing trader, but I buy a lot of evals so it was bound to happen eventually. As soon as the second account passed I got an email from FTMO that I was now restricted to a 1% drawdown per trade because I was too aggressive during the eval (I risked 2% per trade). They wouldn't issue my funded accounts for a few weeks because I emailed them back and forth and told them it wasn't fair or listed anywhere on the website. Eventually I agreed that to their new special rule and they reminded me if I lost 1% on EURUSD that I couldn't open another trade on a correlated instrument until the next trading day. I got my first payout and my refund, but it was hard and now I have 400k in funding I won't be using because 1% per instrument is too restrictive for my trading style.
Because people thought (some are still thinking) they give you real money to trade...LOL Finally, it's now widely known that everything is a hot balloon DEMO, even so-called "funded" accounts are always a demo! Plus they will heavily manipulate your trades just to make you fail. Why? Every dollar they pay to you is one less for them!
Petko please take them to court. We all will sign your petition as well, as your subscribers and as your students. Please take them to court so that they do not dupe people into doing this and paying their fees. Plus if you were doing something that is not permitted, then why were you allowed to trade for 10 consecutive months
Take them to court and end the prop industry once and for all? Congratulations. Let’s get all prop firms banned so that we have no capital to trade with
Take them to court for what? although I did not read the specific terms and conditions, he apparently did something against the rules. The fact that he was able to do it for 10 months shouldn't weigh in on the matter. That's like being a drug dealer for 10 months, but when you get caught by the authorities you tell them 'but officer I've been doing this for 10 months and noone has stopped me until now?!"
unfortunately the prop firms and brkerages are being mafia style forced to do theis by the cftc - a self regulating quasi government entity wanting to control everyone and who discriminate with thier regulations against our true american freedom to trade cfd's and over the counter products as the banks and hedge funds do every day with high leverage and high frequency@@ANiML.1
This isn't new to me, it's in their rules not to use EA. if they find out you using EA they will have the rights to terminate your account and is exactly what they did. You should've ask them first before you use EA.
Hi Petko. It was very unfortunate to hear your denials of payouts. We can't trust Prop firms now. I'm also facing the same issues with other prop firms. They're making profits from the our fees and don't even want us to succeed in trading.
@@kamilnakonieczny9242 Rules BS! For what? For playing on demo accounts? They are never ever giving you any real money to trade with, it's all one big scam. Why did he fail? Because they wanted him to! Why? Because the only money they get is from failed traders. Every dollar they have to pay is one less for them.
I mean I totally understand your frustration, but FTMO clearly mentions that you are not allowed to have the same entry point (SL and TP also) as other traders and by using a public ea you will encounter that problem.
Do you know that FTMO is facing regulatory challenges. These issues primarily stem from the Commodities Futures Trading Commission (CFTC) rules and National Futures Association (NFA) oversight. To operate legally in the United States, FTMO must comply with these organizations’ rigorous standards, which can be both costly and complex1. Due to operational concerns, FTMO decided in May 2023 to stop taking on new customers in several US states, including Delaware, Louisiana, South Carolina, Montana, and Arkansas2. However, existing customers can continue using their services normally. FTMO is actively exploring measures to restore accessibility for traders interested in transacting within the United States2. If you’re looking for alternatives, consider prop firms based in reputable countries like Dubai or the Emirates to avoid future regulatory problems.
I usually don't read Ts and Cs, but I ALWAYS read them for prop firms, because their business model is to rip you off. I also speak to their support to ask specific questions. Many of the give vague answers when you ask about their gambling policy, and how much you're allowed to risk.
He clearly did something he is NOT gonna admit in the video. Its his own fault, just because he got banned x months later.. you ever heard of banhammer in online games? Yeah same reason.
FTMO potentianally just lost 48000 customers for doing this to you. Sorry to hear that they did this to you Petko. I will definitely never buy a FTMO challenge again. Incredibly bad business from their side as they probably did not even realize they were scamming a content provider with 48000 subs. 🙂
Hi Petko. Think of prop firms like sports betting websites. When you win they lose, when they win you lose. The funded accounts are simulated and they only use brokers for price action. There is no 'profit split' Your 'profit' is paid out of their profits which come from challenge fees.
@@Mishairl It doesn't make sense. He broke the rules that makes the prop firm money (if they actually use the money to trade the market). It doesn't cheat anybody, and it doesn't go against trading laws. so it's not a critical rule. The only reason to even have a rule like that, is if they only make money off failed challenges. Even though this guy broke the rules, and we ignore that, why do they even have this rule to begin with? It is not an unfair advantage to anybody, as we aren't competing against each other, it doesn't take anything away from other traders at all. The reason being an "unfair advantage" really make no sense, as it is a great advantage to a legitimate prop firm.
@Petko if this was a 10k account there would be no issues whatsoever. That’s what they allow traders…10k by luring them in with the promise and certificates and payouts of 200k/100k accounts.. but when and if traders make it on higher payouts these are usually denied with various excuses since there is no control or regulation so they are free to change or interpret the rules how they see fit. Losing is the big winner for them, better save and fund your personal live account.
Petko, I believe all anyone wants is honesty and transparency and I really appreciate that you have provided that and am confident you will continue to do so.
I was about to enter with them but after seeing your video I won't do it anymore. It's clear their business model is fraudulent, they win when we lose... Thank you very much for the video and for your transparency 🙏🙏
All prop firms that left the US market led me to believe they were not legit and had some scandal going on and that's why they left because they would get caught
Petko, thanks to you I finally became a profitable trader. Your experiments, your tests, changed my life. Prop firms are unreliable, we will continue to trade on brokers. Don't give up, you are our hero. And now you are also the big-hearted hero for many children. Thank you!
Petko, I am not surprised! First they ban all US traders to trade on their platforms and now this and this is happening with other prop firms. Perhaps now it's time to look at training on futures options they have prop firms and have bots.
They did it not to have problems with futures and globally it is 100% correct decission, they are not against US clients perosnally as it is one of the biggest and most profitable area for any prop firm, it is US regulatory who is against trading cfd-s
if other users use the same ea, and same settings, then there are same trades on different accounts and that violating there rules to trade as a group. i think they are meaning this and not that he is using an ea that manipulating
You are amazing guy petko you dont need these prop firm you do trading on your own broker account you are master bro i hope you do much better in future and i always follow you as my teacher thnx for your all videos good luck❤❤❤
When traders loose money mostly due to them Prop Firms manipulating trading conditions on the so called funded accounts which are nothing but demo accounts there is no consequence to them. Many People continue to loose money, a fraction of this money is paid to selected few while many are loosing this so called funded accounts daily due to unfair practices. If this waka waka works, why not fund with own capital and trade, that will better than spending time trading and be denied withdrawal when it’s due.
I suspect you hit the nail on the head. These companies are playing the "odds" just like traders and leaning on the fact most traders lose money. I would ask up front if the funded accounts are real money and get it in writing so you are likely to get paid than deal with what you just experienced. To me, a company that trades" real money" funded accounts shouldn't bother with how you trade since you would both be profiting from the market.
Funded accounts are never real money. Most prop firms lied to everyone that they were offering real money - until one of the firms (MFF) got outed badly, and since then, they have had to own up and state that its virtual money (i.e demo accounts), so in effect this is a casino. The trades aren't taking to the live markets - and if they are, its not certainly a large account equivalent i.e. a $100,000 could be connected to a $100 live account (just to meet compliance rules that yes - they are taking trades to the live market). They are definitely playing the odds and its always going to be in their favour - due to the 10's of rules that everyone is expected to remember (which they call discipline + risk management - when it has nothing to do with it). The reality is that if you have done a prop trade account, you've improved yourself to go and get a live account (whether you passed the challenges or not as you would not be abiding to such drastic and devilish management rules
The point is, why would they care if many users use the same EA, and generate profits. If the trader is profitable, the firm is profitable. And they had no problem on a small account, for almost a year. Suddenly, when it came time to making a large payment, they simply terminated the accounts. This leads me to think it's all a scam
I just sent them a detailed email discussing what happened to you, i mentioned no names, and asked them simply is i opened an account and had a successful trading balance of 3k are you going to pull this shit on me?? i don't expect them to answer but thought would be funny to point out, they are being talked about in reddit.
Petko and team. it is sad we too trust our time and money in this type of platforms. soon and FTMO it will close.the truth is they win when we lose. The people make FTMO what platform is, and the people it will put it down. thank you for your hard work. many bravo to all of you. ❤❤❤
LOL all the people acting like the issue is he did not read the Terms&Conditions.... wake up!! The issue is that the prop firms only profit if the traders lose. That is the whole point of this video: a warning!
I wonder, what's the benefit of having a codependent relationship with a Prop Firm, having to play by their crazy and arbitrary rules, versus just signing up with a 500:1 forex boker? $500 x 500:1 = $250k, but FTMO charges $500 for a challenge and then $5,000 to buy into a $200k account, right? Is there a reason why we shouldn't just trade $500 x 500:1 on a serious broker, and keep $5,000 as a drawdown buffer?
@@Zaryan_xUnfortunately for me, I'm an American citizen, so I can't trade with a better broker until I form an offshore company. My current Plan A is to choose IG Markets, but I am also interested in IC Markets, eightcap, fpmarkets, BlackBull, and FBS. All of those listed offer 500:1, except FBS, which offers a staggering _3,000:1._
The problem is your gain will be small compared to 200k capital, Lets say you have 5500$ capital and you trade 1:2 RR risking 1%=55$ to make 2%=110$ per trade but with 200k prop firm account you are risking 1% =2000$ to make 2%=4000$
@@KS__traderThank you for your response. So, thinking out loud to understand this better: If you trade 500$ with 500:1 leverage, the 500 becomes 250,000. Risking 1% of that requires a buffer of 2,500 of your own money, to win 2%, which would be 5,000. So what I see, then, is that FTMO will grant a 5% daily loss limit, 10% total loss limit, meaning you are paying 5,500 up-front to access their 200,000 account, and can then lose up to 20,000 of their money before closure, which would then lose your 5,500 deposit. If my understanding is correct, that might still make it worth working with a prop firm, just to give me a larger drawdown buffer.
@@Zaryan_xIG Markets for me, but I have not used them long enough to guarantee that they are great. Some others offering 500:1 are IC Markets, FP Markets, BlackBull, and EightCap.
Let’s do a group that had problems with FTMO and make a Class Action. When i got my funded account they spoil my trading plan even I respected all their rules. Let’s do it.
the ToS clearly say that 3rd Party software isn't allowed and might result in account termination. So its his fault for using the waka 3rd party software i recieved my payout on my 100k account today from them
I will show you an trik with wich they never will be in able to terminate you put the ea on demo account and execute trades manually put your mt4 mobil id on vps mt4 and you will be notified whenever the account is doing
FTMO don't send orders to the liquidity providers..meaning they take the other side of your trade,B booking clients/traders. They lose when you win and they win when you lose.
Thank you Petko for the information, If this is what the theoretically best prop firm does to profitable traders, is it not very clear how the prop industry functions? It isn`t really looking for profitable traders but only for people you just lose... Is that called a scam when they say that they are looking for profitable traders and treating them like this ?
@@PetkoAleksandrovSame with FTMO unless you exceed the max. capital allocation. If you’re using a commercial EA probably used by dozens of other users you shouldn’t be surprised.
You literally sign a contract before you get your funded account saying you can't use EA's and you signed and agreed to it. You've gone against there rules. Not only that, you've broken your contract agreement and basically posted it on RUclips multiple times. You've only got yourself to blame . . .
That's a strong statement Petko that no actual trading is going on in prop firms at all. Worth investigating, but would that really be sustainable? A business model based solely on challenge fees? What are they going to do with very successful manual traders for instance?
It's not a statement, it's a question. With several prop firms going out of business and being accused of impropriety, and regulated brokers distancing themselves from prop firms en mass, one wonders if challenge fees of failing traders finances the small percentage of successful, funded traders.
its not sustainable if most people pass challenges, It’s dependent on getting challenge fees. The vast majority of people fail challenges, or lose funded accounts eventually. But always remember your account is only your daily drawdown, it’s never a 200k account or a 10k. If you had 10k with a broker you could easily live off it. But with a prop firm it’s more likely 500 dollars in daily drawdown so you would make pennies or fail your account.
@@thischannelwillselfdestruc4977Your understanding of leveraged forex accounts is completely lacking. You cannot trade the same way on a 10k account compared to a 100k account.
@@PetkoAleksandrov Obviously challenge fees are their main source of income, but If I had a prop firm I would select the best traders and use their trades to generate additional revenue (with some real trading, of course).
nearly all prop firms don't have LIVE PHASES, they have funded phases, whee they claim they port your best trades over to their live server. Hmm, how do they know what will be the best trade!
Goes to show why one shouldn't have been there in the first place. Imagine leaving a bad review for poor service with your bank - and they decide to ban you for life. Oh banks can't do that - cos they are regulated. Why stay with unregulated prop. firms and be at their mercy.
FTMO never puts you on live accounts, they specifically state that in their terms and conditions, i think the model itself is good as it rewards good traders from the proceeds of the bad traders , risk for all traders is small but payout can be big. It is completely your fault for not reading the terms and conditions so bad mouthing the company puts you at risk of being sued and no im not affiliated to that company.
3 questions. 1. Were there others using waka waka with ftmo? 2. Did everyone have same entry price and stop loss? 3. Does waka waka have mechanism in place to ensure every account is different to each other?
I can't say if there were, or how many others were using the Waka Waka on FTMO. We had several accounts running it for many months without any problems. Again, because I don't know how many people used the Waka Waka on FTMO, or what settings they used, I can't say if the entry prices and stop losses were the same. Waka Waka does have a randomization option to make trades unique. It's a feature that needs to be enabled in the properties.
This is why as a beginner I like your manual scalping strategy using M1, M15 and D1, along with the FPSM indicator. Especially with what's happening currently with prop firms, Metaquotes and the regulation side of things. At least it can be easily compliant with what most prop firms outline as their main rules along with terms and conditions (that require deeper digging to find). Haven't implemented it yet but will soon!
They should just be honest and tell the truth about the reason is due to metaquotes instead of make up that lie that you did something wrong. This makes them just look very dishonest.
Dear Petko, This is probably because of the metaquotes policy change and not due to any other reasons...they are changing their DLL and will be charging a license fee per user per year ...This would make the prop firm business go down....demo accounts would be in pain seems so...
Hello Petko. I am sorry that your accounts have been banned from FTMO. But has a FTMO trader that have not been banned (I manually trade. I dont use EA's) I have some questions for you as I feel that your video is missing a lot of information. I like to believe that it is not intentionally but, still.... I would like to know If you received any warning email prior to being banned, or they just simply banned you? Like, "Stop doing this or you will be banned". You don't mention anything about contacting them after the ban in order to get more information about what got you banned, like, what kind of exact activity that they detected that triggered the ban, so that you "do not do" this kind of activity again? Or just dispute the ban with them. I feel that you just threw the towel to easily and that you might have been actually caught doing something against the clauses and that you just vent your frustration on your channel because you might have been caught. I cant wait for your next video in which you explain that you contacted FTMO for further information and explain to us what they actually told you that you were doing against the clauses that got you banned so that everybody here knows exactly not what to do. Because, at this time, everything is way too vague to know exactly what got you banned. I feel like you just might be using this only to promote Darwinex, with wich you might be making way more money than your FTMO affiliate. That's how I feel about this video. Thanks.
I had no warning at all. I traded the Waka Waka for 10 months without any problems. We are looking into options to deal with it, and should we decide to pursue them, I will of course record a video about it.
@@PetkoAleksandrov I hope that you will at least email them for further explanations on what exactly got you banned and tell us about it. Because, what I understand from your video, you are "assuming" that it is because you are using the WakaWaka EA. They did not "explicitely" told you that, what got you banned, was the fact that you used a grid-martigale EA. BTW, I got an email once from them because I was using a grid-martigale EA too that was opening way too many trades in a single day (Yeah, my programming bad...). But I got an email to tell me to review my code or they would disconnect me from their servers until I applied changes to my code and reduce the number of trades. I did not get banned, but I got warned. That is why I find all this to be a little bit suspicious. Thanks for answering my post.
All Prop firms are scams ?! Not just them..Forex brokers do the same ,..They pay you with lose trader's money ...No liquidity banks , no support funds ,... But that's business !!!
As long a s brokers is well regulated, there are usually very few issues with payouts. But only about 5 - 10% of traders are actually profitable in the long ter,
@@PetkoAleksandrov I think you'll find that the number is getting closer to 20% now due to technology + Ai (and the brokers are now worried that it is affecting their models - especially money makers).
If you're trading CFDs (contract for difference), you're entering a contract with the broker. If you lose, they make money from the losses in your capital, as well as fees, spreads and commissions.
yeah problem is most prop firms are taking out mt4 and mt5 and petkos eas are on mt4 and mt5 that's why he is dropping them not unless he finds a way to code his EAs for Ninjatrader
Okay, I've been done some research. Is it possible that they stated that the cancellation was due to breach, so they didn't have to refund account cost to U.S. clients?
Or, it's because it's a grid bot. Either-way, they should have changed the rules in a clean sweep. Hmm, I was planning to buy a challenge, but ... I need certainty. I guess that you get what you pay for. I am still not sure if the regulators dislike CFDs, leverage, or 90% of retail traders failing and losing their money, or the unregulated industry. Perhaps, it's all of the above. @@PetkoAleksandrov
In the course, I teach the strategy, money management, scaling up, etc. You can also change the settings for unique trades. The issue was the Waka Waka presumably. I've had no problems with our robot
The cost of challenges, buying testing EAs and tools etc, after a few months is a very decent starting capital for most traders to start growing their own live accounts trading and setting their own rules.
ENGLISH IS VERY IMPORTANT TO UNDERSTANDING, YOURE PUTTING THEM AT RISK BECAUSE USA CLIENTS HAVE ACCESS TO THEM, AND CAN PUT THEM IN JEOPARDY. THOSE ACCOUNTS MUST BE FROM COUNTRIES THAT ARE NOT ALLOWED AND IN THE TERMS AND CONDITIONS.. 3RD PARTY EA IS NOT ALLOWED.. SO ALL OF YOU ARE USING THE SAME EA AND GETTING THE SAME TRADES
You'll only get the same results if your EA is set up exactly the same as someone else. Ours was set up completely unique, and no other trades were the same as ours
KEEP ON MAKE GREAT AND GOOD ACTIONS! YOU'RE GOOD PERSON AND GREAT TRADER ! KEEP ON GOING! WE SUPPORT YOU AND THANK YOU FOR YOUR EXPERIENCE AND KNOWLEDGE !
Thanks for this video but I'm not sure why they wouldn't want pay you if you didn't obstruct one of their policies when someone like Bernd Skorupinski who is FTMO's top funded trader has been getting payouts for two years of being with them. I think this should be a lesson to everyone to make sure you read the contract properly.
Huge L for FTMO and shows they aren’t actually trading alongside client accounts , or else they’d be in profit and shut up and not terminate a profitable account , never purchasing from these guys ever again!
Hi Petko, I am so happy to hear people like you exist in this ruthless planet, I pray you find another way to help the poor and needy and i also pray FTMO wakes up and realises these demonic actions they enjoy will in the long run only bring them absoloute failure and perhaps even prison sentences . I hope they wake up before they wake up behind bars someday for messing with the wrong people . haha xxx
Didn't this happen because the Waka Waka EA was placing the same trades across all the different trader's accounts? Because if you read the terms and conditions, that is against the rules.
May I know what does this EA do? Because I use an EA to automatically calculate my lot size as per stop loss and I'm thinking it might also be an issue
@@PetkoAleksandrov Trade for yourself. You got denied cause you have ea robot trading for you. Learn to trade manually and make your own trades. That’s what ftmo wants. Also risk only 1 percent each trade and you good. That way you are more guaranteed to get a payout and if they deny you, you can build a case against them in that case.
What happens is that each order issued by the robot has a registration number which is through yours's magic number and so if you are using the standard configuration and another trader is too, they have verified that there is an order issued by the same code on different accounts and canceled your order. account, so whenever you place a robot, change the magical numeral
I want to clarify some things here why I think they suspended his accounts. This Waka trading bot uses a "Grid" system, ie, placing trades above and below a set price. I've seen prop firms typically not like this style of trading. I am currently waiting to clarify with FTMO but clause 5.4.1 doesn't appear to forbid EAs, however, it does appear vague in what it does not allow.
FTMO have clarified EAs are allowable but using one commercially available runs the risk of account suspension. This is pretty much exactly what the Tnc says though 5.4.1 can be a little vague in its writing. I dont think either he or FTMO are at fault. Actually FTMO are really good at explaining things if you just ask, like i asked them to explain how their swaps are calculated and they gave me a full breakdown. Just do your due diligence, FTMO is a great prop firm to work with.
No, we looked at it, believing it may be a better option that others because it's backed by a regulated broker, but it's not. The parent company is the same, but they are completely separate entities, and the prop firm is not regulated in any way
I agree that breaking the rules is a good reason for terminating an account. But you are right: What company that makes money from traders in a trading environment would terminate a person for making money for their firm? What he did isn't illegal. An unfair advantage? over who? Who would lose and who would gain in this advantage? No losers!! It is very suspect that the money is made from failed challenges; not from trading. Are there any "actual" prop firms that actually trade your money?
We are an Academy and trading company that specialises in trading with EAS - our own and others. 80% of institutional traders today, trade with robots only
@@PetkoAleksandrov Yeah they will have issues if you use trading bots that others are also using, as their rules state that you can't use the same strategy as others. Obviously people are going to use same or similar strategies such as ICT or SMART, but your trades shouldn't be exactly the same as others consistently.
They lost a huge customer base when stopping onboarding IS client so what do you expect a huge chunk of those the helped paying the customer out has now been lost all prop firm now do not accept ea in any form
Deadly Pockets. So, ultimatelly, they do not want to copy our trades for their profits? About successful traders like you, kept on a perceptual profit curve, why not to copy the trades for trading in the real being an advantage for their companies, why then do not they do it? Also, let's remember that they have systems for monitoring traders' accounts. An algorithmic system can sift through and obtain which results are favorable and therefore copy them to the market. This is not a complicated matter by using certain statistical and risk composition tools. So what!
FTMO is quite possibly doing their payouts via the money they get from failed traders not passing the test phases. They never were placing your trades. If all prop firms are like this, I'd say this gimmick will be over soon altogether. I really don't understand why they don't run the business as intended... Making money off successful traders.
bro you have violet the rules specifically written in the contract, if you didn't read the rules is your problem. They didn't block before your account because maybe they give you time to stop to use expert advisor but you continue. Please read the rules.
Sorry to know that you have lost your FTMO funded accounts. I wouldn't use third party EA to trade on prop firm due to the restriction by majority of the prop firms. Have you be able to pass challenge and make live profit from EA portfolios generated by EA Studio/Express Generator? I would love to see your content on the results of the EA portfolio especially for longer term and constant profits.
I'm sorry that this happened to you. But I wonder if in FTMO T&C it doesn't say that you are not allowed to use EAs. I'm sure 90% of prop firms don't allow to use EAs, which if you ask me makes perfect sense. Anyways anyone heard about Fintokei prop firm?
Exactly….. you can see there are lots of sheeps here that are following one after another. Just don’t blindly believe everything, he has used software to trade which means he is not trading and it’s against FTMO.
![Noob To Max With DRAGON REWORK In Blox Fruits [FULL MOVIE]](http://i.ytimg.com/vi/LnBMOinoOvA/mqdefault.jpg)
If he was using the same EA but losing and continuously buying more challenges, FTMO would have absolutely no problem letting him continue. But when it's time to pay out, suddenly the rules are applied. Does that sound like honest business?
They have the right to deny payouts if you use EA.
Period
What's EA?
I CANNOT THANK YOU ENOUGH for going through all these trials for us all in this community.
Thank you 🙏 brother.
Thank you for proving these company prop firms to be nothing but a scam who prey on customers. I never understood them neither, until this video.
I’ll be more than happy to join Darwinex zero!
We can use ANY EA!!
Expert advisor
Basicly a bot that trades for you @@codeyslack882
@@Smt_Glaivebut eas are allowed on ftmo
Dude doesn't read the TNCs then complains when he breaks the TNCs and his account is terminated.. The jokes write themselves
i thought its allowed to use EA's on FTMO maybe im wrong.
@@talsmanic you can, but they don't allow 3rd party EAs
@@musamnguni5786 What is the difference? Is a 3rd party ea just not regulated or how do they mean?
@@shawnvwyk Think of a 3rd Party EA as an EA you can buy, but other people can also buy it as well, meaning all you guys are entering the same trades with the same risk. FTMO does not want that.
If you want to trade with an EA, only you can use that specific EA and nobody else.
@@musamnguni5786 thanks for explaining
Same thing happened to me. Once you request a payout from ftmo on a 200k account they want to make up a reason not to pay you. They're no longer the gold standard for the industry. Just sad. I know how much that hurts.
What happened to you?
@@harrylloyd200 I passed two 200k evals in the minimum days. I'm not an amazing trader. I've just taken enough evals that it was bound to happen eventually. When the second one passed, FTMO sent me an email saying I can't go over 1% risk per trade. They did end up paying me out, but between the 1% risk rule and having to use dx trade I feel like I have 400k in funding that I'm not really using.
tell me more if you are not a petko bot, cuz i was about to buy exactly 200k ftmo account
@@calm694 Sorry I thought I replied. I passed two 200k FTMO accounts in the minimum trading days. I'm not an amazing trader, but I buy a lot of evals so it was bound to happen eventually. As soon as the second account passed I got an email from FTMO that I was now restricted to a 1% drawdown per trade because I was too aggressive during the eval (I risked 2% per trade). They wouldn't issue my funded accounts for a few weeks because I emailed them back and forth and told them it wasn't fair or listed anywhere on the website. Eventually I agreed that to their new special rule and they reminded me if I lost 1% on EURUSD that I couldn't open another trade on a correlated instrument until the next trading day. I got my first payout and my refund, but it was hard and now I have 400k in funding I won't be using because 1% per instrument is too restrictive for my trading style.
@@harrylloyd200 IDK why my previous reply didn't go through. Check my response to calm694 below :)
I don't understand why people keep embracing these prop firms b.s, they are all scammish, better grow your small account..
The dream of financial freedom on the short run
Agreed
Because people thought (some are still thinking) they give you real money to trade...LOL Finally, it's now widely known that everything is a hot balloon DEMO, even so-called "funded" accounts are always a demo! Plus they will heavily manipulate your trades just to make you fail. Why? Every dollar they pay to you is one less for them!
Milk the firms for what you can. Take those payouts and build your own account
@@tonyaguib2648 Freedom on what? Playing on BS demo accounts and pretending you are trading? They NEVER EVER will give you any real money to trade on.
Petko please take them to court. We all will sign your petition as well, as your subscribers and as your students. Please take them to court so that they do not dupe people into doing this and paying their fees. Plus if you were doing something that is not permitted, then why were you allowed to trade for 10 consecutive months
Take them to court and end the prop industry once and for all? Congratulations. Let’s get all prop firms banned so that we have no capital to trade with
Take them to court for what? although I did not read the specific terms and conditions, he apparently did something against the rules. The fact that he was able to do it for 10 months shouldn't weigh in on the matter. That's like being a drug dealer for 10 months, but when you get caught by the authorities you tell them 'but officer I've been doing this for 10 months and noone has stopped me until now?!"
@@rickyrozay752we can report this to the SEC,the same way as MFF propfirm.😊
This is a joke, right?
Yes give them more money so they can payout real traders. If you are a „student“ of this guy, you are doomed to fail i‘m afraid^^
It’s terrible! if the best funding company starts doing this it’s a very bad signal! Embarrassing FTMO!
well said
FTMO
Fk Traders Money Organization
unfortunately the prop firms and brkerages are being mafia style forced to do theis by the cftc - a self regulating quasi government entity wanting to control everyone and who discriminate with thier regulations against our true american freedom to trade cfd's and over the counter products as the banks and hedge funds do every day with high leverage and high frequency@@ANiML.1
Super embarrassing
what is embarrassing ?? u mean that he didnt respect the rules that he singned ?? WTF is wrong with u people :D
This isn't new to me, it's in their rules not to use EA. if they find out you using EA they will have the rights to terminate your account and is exactly what they did. You should've ask them first before you use EA.
you missed the point
it’s allowed.
not if x other people use the same strategy (same entry, sl and tp)@@zeytac6355
EA's are generally accepted, but Waka Waka is a grid system which is a big red no!
EAs are clearly allowed with FTMO, so he must have done something else that he does not want to mention ofc
Hi Petko. It was very unfortunate to hear your denials of payouts. We can't trust Prop firms now. I'm also facing the same issues with other prop firms. They're making profits from the our fees and don't even want us to succeed in trading.
stop talking bs. FTMO has clear rules that you cant use the same strategy on many accounts , read rules then cry
@@kamilnakonieczny9242 Rules BS! For what? For playing on demo accounts? They are never ever giving you any real money to trade with, it's all one big scam. Why did he fail? Because they wanted him to! Why? Because the only money they get is from failed traders. Every dollar they have to pay is one less for them.
I mean I totally understand your frustration, but FTMO clearly mentions that you are not allowed to have the same entry point (SL and TP also) as other traders and by using a public ea you will encounter that problem.
Do you know that FTMO is facing regulatory challenges. These issues primarily stem from the Commodities Futures Trading Commission (CFTC) rules and National Futures Association (NFA) oversight. To operate legally in the United States, FTMO must comply with these organizations’ rigorous standards, which can be both costly and complex1. Due to operational concerns, FTMO decided in May 2023 to stop taking on new customers in several US states, including Delaware, Louisiana, South Carolina, Montana, and Arkansas2. However, existing customers can continue using their services normally. FTMO is actively exploring measures to restore accessibility for traders interested in transacting within the United States2. If you’re looking for alternatives, consider prop firms based in reputable countries like Dubai or the Emirates to avoid future regulatory problems.
for receiving a total ban he must have done something more than simply using same EA.
@@arisandshinesuper comment but we not talking about this at all in this context.
@@david-rx4vd I already encountered same issues and it was due to same trades on multiple account.
@@david-rx4vd Of course, he has reached the payout...
"I admit, I didn't read the terms and conditions."
You read terms and conditions? It is called the small print for a reason
@@zakariafarah1101 Then us a magnifying glass.
You did right
@@zakariafarah1101 When you commit for something really important, you take time to read the terms and conditions.
Period.
I usually don't read Ts and Cs, but I ALWAYS read them for prop firms, because their business model is to rip you off. I also speak to their support to ask specific questions.
Many of the give vague answers when you ask about their gambling policy, and how much you're allowed to risk.
Thank you for sharing. I was planning to buy a FTMO challenge next week. This will ruin their reputation.
im literally using the demo now was just about to buy an account. not going to anymore.
@@donaldderrick1595 why? he did not respect ftmo rules
@@donaldderrick1595your loss😂😂
He clearly did something he is NOT gonna admit in the video. Its his own fault, just because he got banned x months later.. you ever heard of banhammer in online games? Yeah same reason.
@@Cross8ow he did amit he wasnt respecting ftmo's rules😅.
This is scary all pro firms are shady the moment you are profitable there is an issue
Absolute scammers all of them
FTMO potentianally just lost 48000 customers for doing this to you. Sorry to hear that they did this to you Petko. I will definitely never buy a FTMO challenge again. Incredibly bad business from their side as they probably did not even realize they were scamming a content provider with 48000 subs. 🙂
they probably knew about it since they are a b book prop firm they don't want 48k profitable traders to come on board anyways.
he is breaking FTMO rules trading with a robot, don’t know why you’re so surprised
@@alexeyflx4949EAs are not forbidden.
thats totally wrong. ftmo allows eas@@alexeyflx4949
@@alexeyflx4949 You're allowed to use EAs with FTMO. Didn't you hear him say he's been using one for 10 months with no problems?
Thanks Petko for sharing this info with the Fx community here.
Hi Petko. Think of prop firms like sports betting websites. When you win they lose, when they win you lose. The funded accounts are simulated and they only use brokers for price action. There is no 'profit split' Your 'profit' is paid out of their profits which come from challenge fees.
Spot on - complete scams
The first clue was probably when they stopped accepting US clients. I won’t be recommending them to anyone anymore. Thank you for sharing.
it has nothing to do with this tho...he just break the rules bro.
@@Mishairl It doesn't make sense. He broke the rules that makes the prop firm money (if they actually use the money to trade the market). It doesn't cheat anybody, and it doesn't go against trading laws. so it's not a critical rule. The only reason to even have a rule like that, is if they only make money off failed challenges. Even though this guy broke the rules, and we ignore that, why do they even have this rule to begin with? It is not an unfair advantage to anybody, as we aren't competing against each other, it doesn't take anything away from other traders at all. The reason being an "unfair advantage" really make no sense, as it is a great advantage to a legitimate prop firm.
May God bless you for the good deeds you do!!!
@Petko if this was a 10k account there would be no issues whatsoever. That’s what they allow traders…10k by luring them in with the promise and certificates and payouts of 200k/100k accounts.. but when and if traders make it on higher payouts these are usually denied with various excuses since there is no control or regulation so they are free to change or interpret the rules how they see fit. Losing is the big winner for them, better save and fund your personal live account.
You are a kind man. Thanks for donating your money.
Petko, I believe all anyone wants is honesty and transparency and I really appreciate that you have provided that and am confident you will continue to do so.
I was about to enter with them but after seeing your video I won't do it anymore. It's clear their business model is fraudulent, they win when we lose... Thank you very much for the video and for your transparency 🙏🙏
All prop firms that left the US market led me to believe they were not legit and had some scandal going on and that's why they left because they would get caught
Petko, thanks to you I finally became a profitable trader. Your experiments, your tests, changed my life. Prop firms are unreliable, we will continue to trade on brokers. Don't give up, you are our hero. And now you are also the big-hearted hero for many children. Thank you!
What strategies or EA you use to make you consistently profitable? Please kindly share us here.
Petko, I am not surprised! First they ban all US traders to trade on their platforms and now this and this is happening with other prop firms. Perhaps now it's time to look at training on futures options they have prop firms and have bots.
They did it not to have problems with futures and globally it is 100% correct decission, they are not against US clients perosnally as it is one of the biggest and most profitable area for any prop firm, it is US regulatory who is against trading cfd-s
Use of Third Party EA on FTMO is not totally forbidden. Its conditional. I think, you can sue them in court for violating an agreement.
if other users use the same ea, and same settings, then there are same trades on different accounts and that violating there rules to trade as a group. i think they are meaning this and not that he is using an ea that manipulating
@@AlexK1790 any recommendation to prevent this??? i read that changing some parameters and also changing the magic number will help
he's using the same EA in multiple accounts. it's not acceptable, FTMO is still the prop with the most better reviews
You are amazing guy petko you dont need these prop firm you do trading on your own broker account you are master bro i hope you do much better in future and i always follow you as my teacher thnx for your all videos good luck❤❤❤
Keep up the good work Petko! Life is a roller-coaster!
If I was FTMO, I would ban all EAs cause they are for lazy traders that have no skill
All brokers and prop firms prefer losers over winners. That whats makes them money!
When traders loose money mostly due to them Prop Firms manipulating trading conditions on the so called funded accounts which are nothing but demo accounts there is no consequence to them. Many People continue to loose money, a fraction of this money is paid to selected few while many are loosing this so called funded accounts daily due to unfair practices. If this waka waka works, why not fund with own capital and trade, that will better than spending time trading and be denied withdrawal when it’s due.
I suspect you hit the nail on the head. These companies are playing the "odds" just like traders and leaning on the fact most traders lose money. I would ask up front if the funded accounts are real money and get it in writing so you are likely to get paid than deal with what you just experienced. To me, a company that trades" real money" funded accounts shouldn't bother with how you trade since you would both be profiting from the market.
Funded accounts are never real money. Most prop firms lied to everyone that they were offering real money - until one of the firms (MFF) got outed badly, and since then, they have had to own up and state that its virtual money (i.e demo accounts), so in effect this is a casino. The trades aren't taking to the live markets - and if they are, its not certainly a large account equivalent i.e. a $100,000 could be connected to a $100 live account (just to meet compliance rules that yes - they are taking trades to the live market). They are definitely playing the odds and its always going to be in their favour - due to the 10's of rules that everyone is expected to remember (which they call discipline + risk management - when it has nothing to do with it). The reality is that if you have done a prop trade account, you've improved yourself to go and get a live account (whether you passed the challenges or not as you would not be abiding to such drastic and devilish management rules
EA's are ok for personal accounts, Prop firms you need to be able to trade yourself.
What means EA
Bots@@theShinypaladin
@@theShinypaladin Expert advisors
Because...?
EAs can work well in prop firms that allow them.
@@freenrg888 Most prop firms do allow them. But they are slow to make profit and drawdown is a problem
This isnt a surprise, your not allowed to use EA, stop playing victim if you finally got caught
*you're
Sorry about what happened to your account. Thanks for letting us know
Please give us more updates on prop firms.
FTMO dont want too many traders using the same bots! If they already got a waka bot trader they dont want more.
There no such condition in their terms and confitions document. Also, they could warn you ahead and not terminate your account.
@@pabloschlebos but why would they A book the same strategy multiple times?!?! Just common sense
@@pabloschlebos Exactly, he is not being accuse of using a 3rd party that is already in place. They are accusing of "cheating" basically.
The point is, why would they care if many users use the same EA, and generate profits. If the trader is profitable, the firm is profitable. And they had no problem on a small account, for almost a year. Suddenly, when it came time to making a large payment, they simply terminated the accounts. This leads me to think it's all a scam
@@PetkoAleksandrov I hear u. But they can't back the same strategy unlimited. The drawdown. It's called portfolio diversification
I just sent them a detailed email discussing what happened to you, i mentioned no names, and asked them simply is i opened an account and had a successful trading balance of 3k are you going to pull this shit on me?? i don't expect them to answer but thought would be funny to point out, they are being talked about in reddit.
Ask anybody to give you 200k and explain them that you get 80% of the profit while they get 20%. You get a very detailed and ungly explanation.
Actually, this is exactly how all hedge funds work. The investors are the ones taking the biggest risk, so they get the biggest rewards.
Petko and team. it is sad we too trust our time and money in this type of platforms. soon and FTMO it will close.the truth is they win when we lose. The people make FTMO what platform is, and the people it will put it down. thank you for your hard work. many bravo to all of you. ❤❤❤
LOL all the people acting like the issue is he did not read the Terms&Conditions.... wake up!! The issue is that the prop firms only profit if the traders lose. That is the whole point of this video: a warning!
I wonder, what's the benefit of having a codependent relationship with a Prop Firm, having to play by their crazy and arbitrary rules, versus just signing up with a 500:1 forex boker? $500 x 500:1 = $250k, but FTMO charges $500 for a challenge and then $5,000 to buy into a $200k account, right? Is there a reason why we shouldn't just trade $500 x 500:1 on a serious broker, and keep $5,000 as a drawdown buffer?
What broker do you use or recommend?
@@Zaryan_xUnfortunately for me, I'm an American citizen, so I can't trade with a better broker until I form an offshore company. My current Plan A is to choose IG Markets, but I am also interested in IC Markets, eightcap, fpmarkets, BlackBull, and FBS. All of those listed offer 500:1, except FBS, which offers a staggering _3,000:1._
The problem is your gain will be small compared to 200k capital,
Lets say you have 5500$ capital and you trade
1:2 RR risking 1%=55$ to make 2%=110$ per trade
but with 200k prop firm account you are risking
1% =2000$ to make 2%=4000$
@@KS__traderThank you for your response. So, thinking out loud to understand this better: If you trade 500$ with 500:1 leverage, the 500 becomes 250,000. Risking 1% of that requires a buffer of 2,500 of your own money, to win 2%, which would be 5,000. So what I see, then, is that FTMO will grant a 5% daily loss limit, 10% total loss limit, meaning you are paying 5,500 up-front to access their 200,000 account, and can then lose up to 20,000 of their money before closure, which would then lose your 5,500 deposit. If my understanding is correct, that might still make it worth working with a prop firm, just to give me a larger drawdown buffer.
@@Zaryan_xIG Markets for me, but I have not used them long enough to guarantee that they are great. Some others offering 500:1 are IC Markets, FP Markets, BlackBull, and EightCap.
Sounds a little crazy to me. Isn't FTMO keeping 10-15% anyways for doing nothing? So I don't get it.
The 10-15% fee is to trick you into thinking Ftmo benefits from you winning trades.
Let’s do a group that had problems with FTMO and make a Class Action. When i got my funded account they spoil my trading plan even I respected all their rules. Let’s do it.
I am actually giving up on all the prop firms for good and starting to trade on my personal account. It will be slow, but worth it.
I just passed their free trial and about to purchase the challenge. I am not going to do business with FTMO now.
the ToS clearly say that 3rd Party software isn't allowed and might result in account termination. So its his fault for using the waka 3rd party software i recieved my payout on my 100k account today from them
Congratulations on passing the trial, wherever you go next you know you have your edge with you :)
I will show you an trik with wich they never will be in able to terminate you put the ea on demo account and execute trades manually put your mt4 mobil id on vps mt4 and you will be notified whenever the account is doing
How but? Can you explain more about blz
?
your methods are good. vps with solid ip address, and never run an ea on real account, place order by hand on mt4 mobile.
FTMO don't send orders to the liquidity providers..meaning they take the other side of your trade,B booking clients/traders. They lose when you win and they win when you lose.
This was exactly my point. Thanks
Thank you Petko for the information,
If this is what the theoretically best prop firm does to profitable traders, is it not very clear how the prop industry functions? It isn`t really looking for profitable traders but only for people you just lose... Is that called a scam when they say that they are looking for profitable traders and treating them like this ?
how does that work if we all trade the FTMO Bot or waka waka on Darwinex ? We all would be denied payout bc of correlation or not ?
Darwinex is different. While they look for correlations, you can use any EA, as long as your trades are unique.
@@PetkoAleksandrovSame with FTMO unless you exceed the max. capital allocation. If you’re using a commercial EA probably used by dozens of other users you shouldn’t be surprised.
@@PetkoAleksandrov hey, but the trades wont be unique if others are using wakawaka, or does that not matter?
You literally sign a contract before you get your funded account saying you can't use EA's and you signed and agreed to it. You've gone against there rules. Not only that, you've broken your contract agreement and basically posted it on RUclips multiple times. You've only got yourself to blame . . .
Ea is allowed...
Forex industry is a pure joke....
Yeah for the majority who don't know how to trade
no the making mony model is a huge scam
@@jaymanben
Why don't you use WAKA on your personal account then? Why the need for prop firms?
We are using it on a live account. You can see the results here: eatradingacademy.com/s/ViqOk
We need a channel to analyze prop-firm TOS with professional lawyers to then be able to sue prop-firms collectively and close them down. 🤣
That's a strong statement Petko that no actual trading is going on in prop firms at all.
Worth investigating, but would that really be sustainable? A business model based solely on challenge fees?
What are they going to do with very successful manual traders for instance?
It's not a statement, it's a question. With several prop firms going out of business and being accused of impropriety, and regulated brokers distancing themselves from prop firms en mass, one wonders if challenge fees of failing traders finances the small percentage of successful, funded traders.
its not sustainable if most people pass challenges, It’s dependent on getting challenge fees. The vast majority of people fail challenges, or lose funded accounts eventually. But always remember your account is only your daily drawdown, it’s never a 200k account or a 10k. If you had 10k with a broker you could easily live off it. But with a prop firm it’s more likely 500 dollars in daily drawdown so you would make pennies or fail your account.
@@thischannelwillselfdestruc4977Your understanding of leveraged forex accounts is completely lacking. You cannot trade the same way on a 10k account compared to a 100k account.
@@PetkoAleksandrov
Obviously challenge fees are their main source of income, but If I had a prop firm I would select the best traders and use their trades to generate additional revenue (with some real trading, of course).
That’s insane, FTMO are clowns how can they do that to you ?
Now I know that you are a clown. 3rd party softwares are not allowed to trade with!!!
nearly all prop firms don't have LIVE PHASES, they have funded phases, whee they claim they port your best trades over to their live server. Hmm, how do they know what will be the best trade!
if you ever leave them a bad review you will get banned for life
Goes to show why one shouldn't have been there in the first place. Imagine leaving a bad review for poor service with your bank - and they decide to ban you for life. Oh banks can't do that - cos they are regulated. Why stay with unregulated prop. firms and be at their mercy.
FTMO never puts you on live accounts, they specifically state that in their terms and conditions, i think the model itself is good as it rewards good traders from the proceeds of the bad traders , risk for all traders is small but payout can be big. It is completely your fault for not reading the terms and conditions so bad mouthing the company puts you at risk of being sued and no im not affiliated to that company.
3 questions. 1. Were there others using waka waka with ftmo?
2. Did everyone have same entry price and stop loss?
3. Does waka waka have mechanism in place to ensure every account is different to each other?
I can't say if there were, or how many others were using the Waka Waka on FTMO. We had several accounts running it for many months without any problems.
Again, because I don't know how many people used the Waka Waka on FTMO, or what settings they used, I can't say if the entry prices and stop losses were the same.
Waka Waka does have a randomization option to make trades unique. It's a feature that needs to be enabled in the properties.
i read the agreement , EA is against the rules.
This is why as a beginner I like your manual scalping strategy using M1, M15 and D1, along with the FPSM indicator. Especially with what's happening currently with prop firms, Metaquotes and the regulation side of things. At least it can be easily compliant with what most prop firms outline as their main rules along with terms and conditions (that require deeper digging to find). Haven't implemented it yet but will soon!
They should just be honest and tell the truth about the reason is due to metaquotes instead of make up that lie that you did something wrong. This makes them just look very dishonest.
Dear Petko, This is probably because of the metaquotes policy change and not due to any other reasons...they are changing their DLL and will be charging a license fee per user per year ...This would make the prop firm business go down....demo accounts would be in pain seems so...
Thx for transparency.
This is messed up. First they stop accepting US clients and now they're not paying. I am scared to even buy another prop firm challenge. 😢 😫 😢
You know you can also start trading your own capital... Or this whole ftmo nonsense was doomed to fail.
Hello Petko. I am sorry that your accounts have been banned from FTMO. But has a FTMO trader that have not been banned (I manually trade. I dont use EA's) I have some questions for you as I feel that your video is missing a lot of information. I like to believe that it is not intentionally but, still.... I would like to know If you received any warning email prior to being banned, or they just simply banned you? Like, "Stop doing this or you will be banned". You don't mention anything about contacting them after the ban in order to get more information about what got you banned, like, what kind of exact activity that they detected that triggered the ban, so that you "do not do" this kind of activity again? Or just dispute the ban with them. I feel that you just threw the towel to easily and that you might have been actually caught doing something against the clauses and that you just vent your frustration on your channel because you might have been caught. I cant wait for your next video in which you explain that you contacted FTMO for further information and explain to us what they actually told you that you were doing against the clauses that got you banned so that everybody here knows exactly not what to do. Because, at this time, everything is way too vague to know exactly what got you banned. I feel like you just might be using this only to promote Darwinex, with wich you might be making way more money than your FTMO affiliate. That's how I feel about this video. Thanks.
I had no warning at all. I traded the Waka Waka for 10 months without any problems. We are looking into options to deal with it, and should we decide to pursue them, I will of course record a video about it.
@@PetkoAleksandrov I hope that you will at least email them for further explanations on what exactly got you banned and tell us about it. Because, what I understand from your video, you are "assuming" that it is because you are using the WakaWaka EA. They did not "explicitely" told you that, what got you banned, was the fact that you used a grid-martigale EA. BTW, I got an email once from them because I was using a grid-martigale EA too that was opening way too many trades in a single day (Yeah, my programming bad...). But I got an email to tell me to review my code or they would disconnect me from their servers until I applied changes to my code and reduce the number of trades. I did not get banned, but I got warned. That is why I find all this to be a little bit suspicious. Thanks for answering my post.
We did email them, and received a generic auto response, with the promise of a follow up email. Still waiting, but not holding my breath.
All Prop firms are scams ?! Not just them..Forex brokers do the same ,..They pay you with lose trader's money ...No liquidity banks , no support funds ,... But that's business !!!
As long a s brokers is well regulated, there are usually very few issues with payouts. But only about 5 - 10% of traders are actually profitable in the long ter,
@@PetkoAleksandrov I think you'll find that the number is getting closer to 20% now due to technology + Ai (and the brokers are now worried that it is affecting their models - especially money makers).
That sounds dumb, some prop firms might be shady, but brokers make money off ur commissions and spreads,not from ur deposits
If you're trading CFDs (contract for difference), you're entering a contract with the broker. If you lose, they make money from the losses in your capital, as well as fees, spreads and commissions.
@@PetkoAleksandrov that's for market makers only
TFF did not scam their traders. They are already back and my friend has already got his payout after their relaunch.
yeah problem is most prop firms are taking out mt4 and mt5 and petkos eas are on mt4 and mt5 that's why he is dropping them not unless he finds a way to code his EAs for Ninjatrader
I'm glad to hear that, and I hope he continues to be successful and get his payouts
Hi Petko! Thanks for share. In fact this is weird because FTMO allows simple EA's. not HTF. So I don't understand why you were banned...
Okay, I've been done some research. Is it possible that they stated that the cancellation was due to breach, so they didn't have to refund account cost to U.S. clients?
Anything is possible, but I am not a US client. They've given no additional information despite numerous requests.
Or, it's because it's a grid bot. Either-way, they should have changed the rules in a clean sweep. Hmm, I was planning to buy a challenge, but ... I need certainty. I guess that you get what you pay for.
I am still not sure if the regulators dislike CFDs, leverage, or 90% of retail traders failing and losing their money, or the unregulated industry. Perhaps, it's all of the above. @@PetkoAleksandrov
funding pips is a great rising prop firm that allows some EA's
Dudeeee i just bought your udemy course like yesterday for passing ftmo accounts with an EA, what am i to do now?
In the course, I teach the strategy, money management, scaling up, etc. You can also change the settings for unique trades. The issue was the Waka Waka presumably. I've had no problems with our robot
whats EA?
Of course it is waka waka it is martingale
They 100% for sure are not profiting off your trading or placing your trades in the real market.
The cost of challenges, buying testing EAs and tools etc, after a few months is a very decent starting capital for most traders to start growing their own live accounts trading and setting their own rules.
ENGLISH IS VERY IMPORTANT TO UNDERSTANDING, YOURE PUTTING THEM AT RISK BECAUSE USA CLIENTS HAVE ACCESS TO THEM, AND CAN PUT THEM IN JEOPARDY. THOSE ACCOUNTS MUST BE FROM COUNTRIES THAT ARE NOT ALLOWED AND IN THE TERMS AND CONDITIONS.. 3RD PARTY EA IS NOT ALLOWED.. SO ALL OF YOU ARE USING THE SAME EA AND GETTING THE SAME TRADES
You'll only get the same results if your EA is set up exactly the same as someone else. Ours was set up completely unique, and no other trades were the same as ours
Maybe you can address this ftmo issue to FTMO Robot clients, or if you have done so, would appreciate if you point it out where the info is.
Worry- sorry to see this happen to you Petko- it seems very unfair behaviour on their part! I hope they pay you out!
KEEP ON MAKE GREAT AND GOOD ACTIONS! YOU'RE GOOD PERSON AND GREAT TRADER ! KEEP ON GOING! WE SUPPORT YOU AND THANK YOU FOR YOUR EXPERIENCE AND KNOWLEDGE !
Thanks for this video but I'm not sure why they wouldn't want pay you if you didn't obstruct one of their policies when someone like Bernd Skorupinski who is FTMO's top funded trader has been getting payouts for two years of being with them. I think this should be a lesson to everyone to make sure you read the contract properly.
Huge L for FTMO and shows they aren’t actually trading alongside client accounts , or else they’d be in profit and shut up and not terminate a profitable account , never purchasing from these guys ever again!
Hi Petko, I am so happy to hear people like you exist in this ruthless planet, I pray you find another way to help the poor and needy and i also pray FTMO wakes up and realises these demonic actions they enjoy will in the long run only bring them absoloute failure and perhaps even prison sentences . I hope they wake up before they wake up behind bars someday for messing with the wrong people . haha xxx
So, where can I use waca waca or any robot? can I use them in my Forex or CMC accounts?
Personally, we are now using the Waka Waka on a live account and a Darwinex Zero account: www.fxblue.com/users/wakawakadarwinex
Didn't this happen because the Waka Waka EA was placing the same trades across all the different trader's accounts? Because if you read the terms and conditions, that is against the rules.
We were using completely randomised settings, so our trades were unique
@@PetkoAleksandrov what you mean with randomised.. if that was like that waka waka wasnt the real bot. i mean you change the bot completly
May I know what does this EA do? Because I use an EA to automatically calculate my lot size as per stop loss and I'm thinking it might also be an issue
EA to calculate lot size is not a problem. It only becomes a problem when you use ea to trade for you which petko did.
The Waka Waka is a fully automatic trading robot that opens and closes trades according to the strategy of the robot based on market conditions.
@@PetkoAleksandrov Trade for yourself. You got denied cause you have ea robot trading for you. Learn to trade manually and make your own trades. That’s what ftmo wants. Also risk only 1 percent each trade and you good. That way you are more guaranteed to get a payout and if they deny you, you can build a case against them in that case.
What happens is that each order issued by the robot has a registration number which is through yours's magic number and so if you are using the standard configuration and another trader is too, they have verified that there is an order issued by the same code on different accounts and canceled your order. account, so whenever you place a robot, change the magical numeral
We had custom set files on each platform and account. This included randomised settings as well as unique magic numbers
EAs would be very difficult for them to follow cause it’s executed automatically through a system
they claim to have your account on a copy trade sequence
I want to clarify some things here why I think they suspended his accounts. This Waka trading bot uses a "Grid" system, ie, placing trades above and below a set price. I've seen prop firms typically not like this style of trading. I am currently waiting to clarify with FTMO but clause 5.4.1 doesn't appear to forbid EAs, however, it does appear vague in what it does not allow.
FTMO have clarified EAs are allowable but using one commercially available runs the risk of account suspension. This is pretty much exactly what the Tnc says though 5.4.1 can be a little vague in its writing. I dont think either he or FTMO are at fault. Actually FTMO are really good at explaining things if you just ask, like i asked them to explain how their swaps are calculated and they gave me a full breakdown. Just do your due diligence, FTMO is a great prop firm to work with.
FTMO says officially that our trades are never going live, all the accs are simulated, so congrats to your heureka moment !
*Eureka
Have you ever tried OANDA prop firm?
No, we looked at it, believing it may be a better option that others because it's backed by a regulated broker, but it's not. The parent company is the same, but they are completely separate entities, and the prop firm is not regulated in any way
@@PetkoAleksandrov Everything you said is correct. In fact, NO prop firm is regulated because regulations for prop firms do not exist.
Correct, which is why they can get away with all of their underhanded tricks
I agree that breaking the rules is a good reason for terminating an account. But you are right: What company that makes money from traders in a trading environment would terminate a person for making money for their firm? What he did isn't illegal. An unfair advantage? over who? Who would lose and who would gain in this advantage? No losers!! It is very suspect that the money is made from failed challenges; not from trading. Are there any "actual" prop firms that actually trade your money?
Thanks for your judgement. I was just about to sign up for a 100k challenge when I saw your post. I will avoid them like the pest, now.
Were you actually trading or depending on ea to trade for you? That's against the rules.
We are an Academy and trading company that specialises in trading with EAS - our own and others. 80% of institutional traders today, trade with robots only
@@PetkoAleksandrov Yeah they will have issues if you use trading bots that others are also using, as their rules state that you can't use the same strategy as others. Obviously people are going to use same or similar strategies such as ICT or SMART, but your trades shouldn't be exactly the same as others consistently.
They lost a huge customer base when stopping onboarding IS client so what do you expect a huge chunk of those the helped paying the customer out has now been lost all prop firm now do not accept ea in any form
FTMO said we are not allow using same EA to make same trades, for them is risky.
Our EA was making unique trades because we had a completely custom set file. There was no copy trading taking place, and no trades the same
Deadly Pockets. So, ultimatelly, they do not want to copy our trades for their profits?
About successful traders like you, kept on a perceptual profit curve, why not to copy the trades for trading in the real being an advantage for their companies, why then do not they do it?
Also, let's remember that they have systems for monitoring traders' accounts. An algorithmic system can sift through and obtain which results are favorable and therefore copy them to the market. This is not a complicated matter by using certain statistical and risk composition tools. So what!
FTMO is quite possibly doing their payouts via the money they get from failed traders not passing the test phases. They never were placing your trades. If all prop firms are like this, I'd say this gimmick will be over soon altogether. I really don't understand why they don't run the business as intended... Making money off successful traders.
@@mmhthree same, my thoughts.
@@mmhthree Because the vast majority of traders blow their accounts after getting funded. Therefore it wouldn't be sustainable
The problem FTMO had was paying you out when EAs should have been banned from the get go
What's EA means
You guys should try to explore futures next. They're fully regulated.
bro you have violet the rules specifically written in the contract, if you didn't read the rules is your problem. They didn't block before your account because maybe they give you time to stop to use expert advisor but you continue. Please read the rules.
Sorry to know that you have lost your FTMO funded accounts. I wouldn't use third party EA to trade on prop firm due to the restriction by majority of the prop firms. Have you be able to pass challenge and make live profit from EA portfolios generated by EA Studio/Express Generator? I would love to see your content on the results of the EA portfolio especially for longer term and constant profits.
I'm sorry that this happened to you. But I wonder if in FTMO T&C it doesn't say that you are not allowed to use EAs. I'm sure 90% of prop firms don't allow to use EAs, which if you ask me makes perfect sense. Anyways anyone heard about Fintokei prop firm?
Exactly….. you can see there are lots of sheeps here that are following one after another. Just don’t blindly believe everything, he has used software to trade which means he is not trading and it’s against FTMO.