FTMO REJECTED MY PAYOUT ((❌⛔️WARNING!⛔️❌)) FTMO BANNED MY ACCOUNTS ⚠️
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- Опубликовано: 25 фев 2024
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In this video, you will see:
✔️My accounts with FTMO were terminated, under questionable circumstances
✔️ My plan to continue trading and helping my subscribers, as I have done from the beginning.
✔️ I will stick to the commitment I made to help the underprivileged kids, even without my FTMO pay-outs.
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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.
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?
Thanks Petko for sharing this info with the Fx community here.
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❤❤❤
May God bless you for the good deeds you do!!!
Thx for transparency.
You are a kind man. Thanks for donating your money.
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
Keep up the good work Petko! Life is a roller-coaster!
"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.
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.😊
@@rickyrozay752 exactly, and the use of EA's is stated clearly and not hard to find in their rules
This is a joke, right?
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.
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
Sorry about what happened to your account. Thanks for letting us know
Please give us more updates on prop firms.
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@@productreviews-012
Super embarrassing
what is embarrassing ?? u mean that he didnt respect the rules that he singned ?? WTF is wrong with u people :D
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.
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 :)
Hi Petko, I was wondering what you thought in regards to how they found out you were using a third part EA? Were you on unique mode, or use the FTMO set files provided by Valery?
Yes, we used custom set files, with randomisation.
@@PetkoAleksandrov Dang, that's disappointing, I was likely going to purchase Waka Waka. Thank you for your response, and I wish you luck.
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.
@@empowermenthubNowsuper 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...
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
This is scary all pro firms are shady the moment you are profitable there is an issue
Absolute scammers all of them
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?
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 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. ❤❤❤
Thanks for your coupon. Big fan 🎉 ❤
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 ?
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😅.
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.
1st view ,Sir can we make consistent results every month with those algos ,Can we get payouts without any dispute every month by following algos
@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.
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
Thanks for the update Petko, if they'll ban you what chance do we have, keep up the good work
Keep going @petko!
Hi Petko, could you try to find more companies running like Darwinex ?
Thanks ;)
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!
Swing accounts allows EA's, was yours regular or swing in this case?
We traded with both, but most were swing
Hi Petko, I saw this video when it came out and I've been thinking about this for a while. If the problem is EA, how did they detect it? What if you use the EA with your own real account through a broker and use copy trading to place trades in FTMO?
I am aware of the waka waka speculations, but wanted to isolate the EA discussion. I mean what if I were to use EA that calculates position size and set multiple stop loss?
I really cannot speak to what FTMO will allow. Personally, my feeling is that they are not a legitimate trading platform. They do say that copy trading is not allowed, but if you enter trades manually, based on entries for another platform, maybe they will allow it, or, maybe they'll simply find a reason not to pay you out
I really cannot speak to what FTMO will allow, and won't. In theory if you enter trades manually based on entries from another platform you're you're using, maybe they will allow it. Or maybe, they'll find a reason not to pay you out.
Good video and it’s good to understand that you can’t use these EAs on the FTMO. So have you read the terms and conditions of Darwin X Zero and do they allow the Experts before more sign up for these? Also can you use expert advisors on standard accounts?
Darwinex is different. While they look for correlations, you can use any EA, as long as your trades are unique.
So at this point I think it’s safe to say all prop firms are suspect, do you still recommend the others listed on your website or should we hang fire on those as well due to recent events?
I would hold back for now, as the industry is undergoing major changes
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
@@alexeyflx4949 Using EA's aren't the issue since FTMO give you EA's that you can download and add to your trading. This is a deeper issue with what is going on within their firm.
@@alexeyflx4949EAs are not forbidden.
thats totally wrong. ftmo allows eas@@alexeyflx4949
You are the best 🥂
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.
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
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.
@@michal5090 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.
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 !
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
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
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 🙏🙏
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.
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.
Does they mentioned the reasons of banned you via an email? Or not
No, other than what I showed in the video. We have emailed them to get more details, but have yet to receive a response, other than the generic auto response
Hey Petko, how do i acces darwinex silver without puting in 1000$ in the live accoun? As they stipulated in order to take place in DarwinexIA
You have to go through the process of registering, trading on the demo account, and then move on to Bronze when you've proven you can trade. After trading successfully on Bronze and getting allocations for some time and hitting milestones, you will get upgraded to Silver. Of course, you need to pay your 38 Euro monthly fee, too
Worry- sorry to see this happen to you Petko- it seems very unfair behaviour on their part! I hope they pay you out!
God Bless you ❤
Maybe u should make an video on how to change settings for example on: ea gold investor, so the trades wont be the EXACT the same as they should be.
We always recommend contacting the broker to get a unique set file
All brokers and prop firms prefer losers over winners. That whats makes them money!
Bravo, *Briskdeft* I'm so glad you're out there fighting these scumbags. We must do everything in our power to protect the elderly and the general public from these despicable scammers. You're a true hero, my brother….
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?
You guys should try to explore futures next. They're fully regulated.
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...
Did you write the EA yourself?
No. I am not a developer. I use EA Studio and FSB Pro to create EAs, but the code is generated automatically when downloading the robot from the app. But the Waka Waka is a 3rd party EA developed by Valery Trading.
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
Petko, you are clearly on the right track. Challenges like this help us to build resilience into our trading systems. Keep your head up and keep doing the great work you have been doing.
Good looking out I think your right
Also, from the last video from FX2, I understood that they will stop their cooperation with MT4, MT5. could you see it? Thank you, good afternoon.
No one knows for sure what will happen if MetaQuotes pulls out of the prop firm industry. We are all waiting to see
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.
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
Why can’t you trade EA’s on personal account?
I'm not sure I understand how Darwinex work.
Do they provide you with the MT4 platform to trade with? If so is it a demo account or live? My EAs work well on demo but not on live...
Basically, you sign up and get a demo account. When you prove you can trade profitably, you upgrade to Bronze, which is a live account, where you can start getting allocations monthly. After some time being profitable, you get upgraded to Silver, then Gold, where you can get investment from outside investors into your portfolio of assets. Darwinex is an asset management company. Have a look at our Darwinex playlist, where we have many videos explaining the entire process. ruclips.net/p/PLKVhG9CW7OB6chpXW5HQGxlnDrb9Qyx0e
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 should do a review on the concept trading prop firm its a prop firm yes but boasts using actual live accounts and can scale up to around 20million depending which account you choose
So the only recommended prop firm from your list that uses mt5 is FTMO?
We do not recommend any prop firms anymore. With Many losing their MetaQuotes access, it's difficult to know which will offer any MT platform.
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.
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.
Hi,Petko ftmo demo and real account is same spread?
Yes, in theory. Demo and real accounts should have identical trading conditions
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
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.
Sir i am your legit follower it so sad to see what happened..can i ask what prop firm allowed EA..and also sir can you review the smart EA incubator, if this is legit
Almost all prop firms allow EA in challenge stage , but when it comes to payout during funding stage , they will behave differently.
I really cannot say for sure. FTMO is the original prop firm, and many have already proven to be scams. They're unregulated, so at this stage, I would not recommend any
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.
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...
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.
Hello I managed to make an ea to work. 3% per month. Do you recommend a prop firm for ea semi automated trading
Based on our recent experience, we no longer recommend using prop firms
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. 🤣
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.
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!!!
Hello brother!
Is it possible to pass prop firm challenge with Waka Waka?
It will depend on the prop firm, and their rules. You'd have to check what kind, if any, EAs they allow, and then I'd advise contacting them directly to confirm
Hi petko, how to get Waka Waka for mt4, will you share that EA.
I am not the developer so I cannot share it, however, you can download a free 2 week trial for MT4 using this link: eatradingacademy.com/s/tDXNm
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.
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.
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
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
was it a swing account or not??
Yes, it was
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
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.
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
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).
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.
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.
Hey Petko,,
Cheer up, this is just a bump in the road.
How many months have you traded Infinity or other Prop firms with an EA other than FTMO? Do you believe they continue to support Algo trading?
I have been trading with prop firms for about a year, possibly longer. At this stage, I simply cannot say what the future of prop firms is. There are many changes happening very quickly, so time will tell.
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.
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
@@osasaigbovo5564