I dont think prop firm lose 90% of the money as it loses money from the profits made from their funds but not from their actual funds,that's why they have drawdown limits,if anything crosses if they will suspend their account
I agree. I don’t really like how this video is structured. It’s very biased and non informative. This information can definitely influence someone to not want to trade with prop firms based on its tone. When I’m reality there are parameters set in place between you and the FIRM to protect both parties interest. I really had to come on here and drop a comment because I don’t like the message this video is giving. If Nick, has no PERSONAL experience with Prop firms he really shouldn’t be speaking of the industry in this way. Prop firms help a lot of traders GET STARTED.
Four to six figure payouts are no problem for these firms. The problem comes when some extremely good trader comes along and rapidly makes millions. Then they start to panic and refuse to pay, making up bullshit excuses.
@@lvdeluxe1 Brokers don't care if you loose or win, they earn from spreads and commisions and other costs. The money one trader wins means some other trader lost, Brokers earn the spread or commision when a transaction between a buyer and seller is done.
Yes most "prop firms" are just online casinos. The only problem I see is that they do not stand by it. But I'd like to see some proof that those prop firms refuse to pay their best traders who DO NOT break any of the rules. This is a big claim and I'd like to see proof or at least some testimonies.
Hi ,nick. Appreciate making this video as awareness. But you should make a video for legit prop firms as well. This will impact some traders that are thinking to tryy MFF or FTMO on w/c many traders has already made pay outs. Thanks
We don't cap our withdrawals and use real brokerage accounts. That's the reason we can offer withdrawals when ever you wan to withdraw, because we use actual funded accounts
Even FTMO admits they have demo accounts connected to a pool of real money. I saw that either on their YT channel or on the website. Can't remember. Either way, I personally might not touch a prop firm ever again.
Honestly for a video like this you really should've just dropped names of the ones not paying out. The only prop firm I know that crumbled at the hands of this model was funding talent and that was mainly because traders found a way to take advantage of their delayed charts (idk what broker they used but they got destroyed with all the chart problems). There's so many prop firms that are pretty obvious about running their model like this and have been growing, operating and paying out reliably for years now. imo this should not discourage retail traders from participating, still an amazing opportunity if you're a good trader. Just need to do the due diligence when deciding on which prop firms to join.
Nick I get your point but its not a fair evaluation some prop firms are good And truth is most retail traders do not have enough capital even if they traded with their own money they would not make much
I suspect that when prop firms identify good traders, they copy their trades and make money that way. Maybe that's why they don't mind taking a small portion of profit split. Just thinking 🤔
@@RayCray924 no bro. The money trader loss when fail to pass. Think about it dude. Let say 500$ of each challenge account fail. We all know 90% of them fail to pass. If prop firm reverse copy all of those account, that money is way way more than just 85$ fees to pass their challenge
I live in 3rd world country, been funded with prop firm since february, they literally get me out of poverty, in terms of wether they place trade on live or not who cares as long as you are getting paid the amount you make, the key is to find a good prop firm with high credibility. 90% people failed prop firm yes but its every where wether you using prop firm or your own fund, focus on your skill Is most important, besides once you getting funded with prop firm and having your first payout after that you literally have nothing to lose and you have a chance to gain huge profit without risking anything (sorry for bad english)
Successful people don't become that way overnight. What most people see at a glance- wealth, a great career, purpose- is the result of hard work and hustle overtime. I pray that everyone who reads this will be successful in life💙
You can ask prop firm. I know for sure ftmo does not post your trades. Even when you have a live account it’s still a demo account. It’s written in their policies and terms of use
If you're asking this question here, it means no real prop firm would want to work with you. Don't worry it's the same for me and 99% of the people watching.
Here's how I look at it, after hitting 10% of capital just withdraw and stop trading till next month. They'll copy such consistency just like ordinary brokers. The industry is all about the 90/10 rule, it's just where you appky it because even ordinary brokers make up excuses when a trader flips 1000$ - 100 000$. From what I've noticed, the Top Prop Traders are grouped together and have an exxlusive social circle with the top managers. This further supports the 90/10 rule, just being applied to another form of the same monopoly game. Nice video though.
"a 50/50 split in profit makes sense." but how about a prop firm that offers that profit split BUT DOES NOT have any challenges you need to pass? just straight to trading their account after you paid the fee...
Damn I really thought it was sweet. Master my strategy, get funded and pay income tax instead of capital gains tax. I trade futures but I'm sure future prop firms are the same way.
Swap fees are absolutely ridiculous. They interfered with your real trades. Depositing money into your account is simple But withdrawing money is never going to happen. You're going to have all sorts of excuses, like a copy of your bank statement. That last thing you want to send a bank record to the thieves.
i've just started a FTMO account and just passed stage 1 today, i have to go onto stage 2 and then i get the 20k funded account, it all seems pretty legit though, but bringing this video out has scared me a little haha
Nick , honestly thanks for the video ,but but but , please help in full ,this is actually very half video . Please tell us about which all prop. Firms are legit . Because now there will be confusion . 👍🏻 Like ftmo ,mff ?
This is why I'm taking the slower route and growing my own funds. Having someone else in control of your money is a recipe for disaster if you ask me. If I lose, it's on me
Yeah I think you should because that’s you need compound you account so your account can grow overtime and I feel like that it’s a catch to the scheme that they’re offer but they’re telling you.
It's more than just this, they say you are gonna get funded with 100k or 500k but you can only lose 10% -5% of this account, so in reality you're only actually trading with 10k or 5k account
They do that so they can identify if your psychology and strategy can manage risk effectively. They wont let you lose 500k before they realize you aren't that great of a trader. Consider the positive side though, if you make any profit, do they not pay you out as if you're trading the 500k account? They are a business and have to protect themselves before they protect you.
Nick I respect you and been here for 2 years, but you are wrong in some degree, MFF opening their data november-december 2021, and they clearly inform us that only 1 out of 600(0.16%) challenge bought managed to reach 1st payout without breaking rules, so here is the business lets say those 600 paid 300$(50k challenge), MFF clearly make 180k, this amount will be used 50k$ for paying 10% of 50k account per month for the next 10 month of that 1/600 consistent trader. after that MFF will copy that 1/600 on trader their 11th month with the surplus 130k,while the trader only get 90% of their 50k, recalculate it to MFF gain 100% of their 130k+10% of 50k account, and that consistent trader get 90% of 50k, ***its down to 75% firms and 25% trader*** so the business will be sustainable if the firms managed to get some profitable trader in their first year, so saying its equal to CASINO is wrong, since to survive these firms really need to get a good traders to do WIN-WIN partnership.
The losers constantly pay for the winners, very simple. Stop making a video that has no evidence to back up your point.. Like what is your point here exactly? If you know so much then help people to find the right firm. You have little to no evidence to prove your point. And dont have the balls to call out any firms. So why make this video..?
@@tshaolin971 Yeah which one “ prop firm “ scammed his friend ? Thats right he doesn’t say… Your an idiot if you believe things on the internet with no proof. My FrIENd GoT ScAMmed “ can you tell us which one…
FTMO has unlimited free challenges for you to practice and master their 4 basic rules. You then pass a real challenge and verification (free re-try if you finish positive but don't meet the profit goal) upon which they return 100% of the challenge fee! You get funded, you trade, you get paid. I've been getting juicy payouts with them for two years now. Yes there may be a lot of scummy prop firms popping out lately, that's why you stick to the originators of the idea. One other thing, I copy trade my FTMO trades into few of my friends real accounts and it's all real market data even though (YES) I trade in an actual FTMO "funded" DEMO account (FTMO has a live, real market feed into all of their accounts)
Nickel and diming traders for combine fees makes no sense. Prop firms make money when their traders make money. The rules can be tough for traders that aren't equipped with the skillset. There are traders that can meet the requirements. I think its one of those things how traders blame market makers for their failures. Traders giving prop firms a bad rap because they are failing at trading for prop firms.
Funded Trading Plus, Lark Funding, Lux Trading and 5ers are legit. No time limits as it should be. Funded Next seems promising as well, as they have a no time limit program.
Do you not think the 'prop' firms hedge the combined trades of all the traders and has a net position just incase someone gets lucky? Or something like that? Obviously the casino method is not sustainable
The 75-90 split firms like FTMO are dirtbags, the goal for us here is to get enough money from them to start with the 50/50 firms (the good ones) or fund our own accounts. Don't expect to get big payouts from the 70-90 firms, just cut and run once you have some decent payouts.
@@villagerintheshire I want to add that there may be some exceptions. TFT is an 85% split firm but their community and customer support is _far_ better than others I've encountered. In general though the more generous the split, the more unethical the firm is likely to be. It's a good rule of thumb.
@TraderNick. It's not even 90%. More like 99%! :D There's a stat posted by MFF last year Oct or Nov. Only 18% pass phase 1. Phase 2: 31% of traders who passed phase 1. Reached first profit split: 4% of traders who pass phase 2. Let's do the math, on a 1000 wanna be traders, 180 will pass phase 1, 54 will pass phase 2 and only 2 to 3 will get paid out and get the refund based on these numbers. They are getting money day in and day out. You are correct when you say these prop firms operate like a casino. The edge is always on their side because 99% will fail the challenge and verification stage. Most will repeat and fail over and over again. Why don't you operate your own prop firm? It's a good business :D :) :p
Is not a good bussiness. Lot of people find a way to cheat. Using 2 account, long 1, short 1, 1 win, 1 loss. once the win get pay, it pay for all the loss. Repeat that, youll get huge a mount of money. As I see still no way to solve those problem by prop firm.
Not going against your ideology per say and each of us have our own opinion but the profit splits theory you presented does not make sense. Which prop firm ever gave you a live account with actual funds of 100k to 300k? None, not even big and trusted companies such as FTMO, yet their swing account does give you a 90% profit split. You cannot say they are cheaters considering they have been longest in the industry and hold the highest standards. What they really do is ask you to take trades which their servers can replicate. You wouldn't know if instead of using 1-10 lots you're trading on demo they would be taking the same trades with 20-30 lots considering the amount of money they have to spare. I have seen the other video you mentioned as well and the dude took a very big name, MFF, considering its by far the most competitive next to FTMO. That profit split they keep of 10% is just them cutting out your profit so they make money both ways, and we are more than happy for that because you're still getting 90% of what you made. Now to get into the other problem, if they kept the rules really easy then everyone would get funded, even if you're not talented and don't possess emotional stability, the type required by traders to actually succeed. This in turn would mean that their servers might end up replicating trades from traders who acted on revenge from the market but only that FTMO's loss would be much greater considering they just traded 30 lots when the trader only traded 2 lots. Yes, ofc they won't copy trades of every trader that ever made a trade because trading is a 0 sum game, one has to lose for the other to win. They, I assume take their sweet time to know a trader before they start replicating their trades on live markets and if I was running a prop firm I would do the same. There are traders who have made 10% in the phase 1 but failed to make 5% in phase 2. Check MFF's records and see how many traders actually make it to the 3 months mark. Why would you assume that MFF would copy trades of people who cannot be consistently funded for more than 3 months. At the end of it all, these prop firms are also businesses who want to make money, which is why they have fees associated to the challenge. Do you know how many people would just rush to prop firms if they gave out free challenges. I bet all of those 341k subscribers would rush to that prop firm. So yes, your challenge fees, if failed, does go to the prop firm and they'll do whatever they want with it. Again, yes, there are many prop firms which are not legit, we have seen companies such as Funding talent who have stolen money from people and just closed but the dude in the other video took a pretty big name and people who aren't even funded just agreed blindly. Plus it wasnt even him who didn't get paid out, it was his friend. If you're that concerned about getting payouts go to firms which have made a name for themselves, pay the premium and get what you deserve, no need for trying out newly launched prop firms who are barely running to begin with and offer really cheap challenges.
In theory, well over 60 percent of traders who take these challenges do not utilize a Stop loss and I would argue well over 90 percent of traders do not use stable Money management, which is why they make more money from the losing challenges than what they have to pay the 0.5 percent of winners, and if you add in that well over 95 percent of traders are Net Losers it's easy to see why this business model is so appealing if you are the owner
If you are looking for a genuine prop firm I would recommend Lux Trading Firm(If you are a conservative trader). You can look at their brokerage information, their funding model,realistic profit split,risk management.They want to make money from your profit not from fees. (Not sponsored or anything)
5% daily dd, when your account drop its no longer 5% from ur account, it got worse, 10k with entry fees of 100$ is totally free risk for the prop firm business model. They get their edge with bs trading rules😂😂😂. better trade with your own capital
I don't understand. If they make so much money from the failed challenges, why not keep those as profit, execute all trades from their funded traders on the real market, split those profits too and make even more money?
That is what they do Andrew, but only when that trader is profitable month after month ( which are a tiny percentage of the people that try this) and not with the traders who just got lucky with there first payout. I don't see anything wrong with that, its just common sense. The problem is that 95% of people that try trading are Idiots that have know strategy (or they just cannot keep to it) and are therefore just gambling, if you have a strategy that is proven over time to give you an edge and you follow it then prop firm trading is a life changer, and Nick's view is very narrow minded and incomplete. the facts are that 95% of people should not be trading and wasting there money because they don't have what it really takes to succeed.
If prop firms only used your subscriptions to payout profitable traders Funding talent would still exist today. Lets not pretend we know how the firms operate, FTMO and My Forex Funds have a high profit split and are legitimate, yes some are scams just use those two and you’re safe. Who cares if they’re not processing your orders????? As long you get paid, if it was as simple as prop firms using your subscriptions to payout traders explain why Funding talent struggled . Yes those subscriptions can be used to pay profitable trades but thats not all surely they need a method to copy profitable traders or else they won’t survive
Hey! I made a follow up in depth documentary on this topic that might be worth hearing. Go to 15:00 into the video on this vid: ruclips.net/video/3LllOJUnOSQ/видео.html&ab_channel=TraderNick
We all know this already. Simple, use the direct funding firms with no challenge. Adopt risk management to take care of the drawdown limit. Don't use stupid methods like arbitrage etc. Make small withdrawals like 5% of the capital, they can afford that. Or if you're young, start with 1k account and compound 30 yrs until you make real money.
Hey nick. Can you make a video of recommended prop firms. It will be very helpful for a new trader like me. Thanks
Appreciate you keeping us well informed. Saw a 90% split commercial at the end of your video 😂😂😂.
I dont think prop firm lose 90% of the money as it loses money from the profits made from their funds but not from their actual funds,that's why they have drawdown limits,if anything crosses if they will suspend their account
Facts
I agree. I don’t really like how this video is structured. It’s very biased and non informative. This information can definitely influence someone to not want to trade with prop firms based on its tone. When I’m reality there are parameters set in place between you and the FIRM to protect both parties interest. I really had to come on here and drop a comment because I don’t like the message this video is giving. If Nick, has no PERSONAL experience with Prop firms he really shouldn’t be speaking of the industry in this way. Prop firms help a lot of traders GET STARTED.
I think Nick should make a video for legit prop firms as well. Because this video will impact some traders wanted to scale up through prop firms.
I trade for a prop firm with a 90% split and never had an issue personally
Four to six figure payouts are no problem for these firms. The problem comes when some extremely good trader comes along and rapidly makes millions. Then they start to panic and refuse to pay, making up bullshit excuses.
Even ordinary brokers do that when faced with large payouts.
@@lvdeluxe1 Some might, but I seriously doubt large regulated brokers like IG and IBKR are going to refuse seven figure payouts.
@@lvdeluxe1 Brokers don't care if you loose or win, they earn from spreads and commisions and other costs. The money one trader wins means some other trader lost, Brokers earn the spread or commision when a transaction between a buyer and seller is done.
@@lvdeluxe1 not all brokers are bucket shops brokers 😂
Yes most "prop firms" are just online casinos. The only problem I see is that they do not stand by it.
But I'd like to see some proof that those prop firms refuse to pay their best traders who DO NOT break any of the rules. This is a big claim and I'd like to see proof or at least some testimonies.
Hi ,nick. Appreciate making this video as awareness. But you should make a video for legit prop firms as well. This will impact some traders that are thinking to tryy MFF or FTMO on w/c many traders has already made pay outs. Thanks
We don't cap our withdrawals and use real brokerage accounts.
That's the reason we can offer withdrawals when ever you wan to withdraw, because we use actual funded accounts
Even FTMO admits they have demo accounts connected to a pool of real money. I saw that either on their YT channel or on the website. Can't remember. Either way, I personally might not touch a prop firm ever again.
Honestly for a video like this you really should've just dropped names of the ones not paying out. The only prop firm I know that crumbled at the hands of this model was funding talent and that was mainly because traders found a way to take advantage of their delayed charts (idk what broker they used but they got destroyed with all the chart problems). There's so many prop firms that are pretty obvious about running their model like this and have been growing, operating and paying out reliably for years now. imo this should not discourage retail traders from participating, still an amazing opportunity if you're a good trader. Just need to do the due diligence when deciding on which prop firms to join.
I have been so much skeptical about this prop firm for so long. I agree with you that very few of them really are sincere.
Nick I get your point but its not a fair evaluation some prop firms are good
And truth is most retail traders do not have enough capital even if they traded with their own money they would not make much
How do i know if my trades are on the live market?
Not all prop firms are the same Nick! I trade with the the5%ers, they are ok 🙌
He didn't say that all are the same.
What are your thoughts on funding trading plus
I suspect that when prop firms identify good traders, they copy their trades and make money that way. Maybe that's why they don't mind taking a small portion of profit split.
Just thinking 🤔
So true 👌👌👌👌🙃😅
They reverse copy trade of lose trader too. That's a huge money, just to remind you, more than money trader pay to pass their challenge
@@RayCray924 no bro. The money trader loss when fail to pass. Think about it dude. Let say 500$ of each challenge account fail. We all know 90% of them fail to pass. If prop firm reverse copy all of those account, that money is way way more than just 85$ fees to pass their challenge
This video is eye-opening. Feeling enlightened but now a little bit confused. In your opinion which are the best Prop firms? FTMO, MFF?
I think he is Experienced Casino player that's the reason he deeply explained about how it works
I live in 3rd world country, been funded with prop firm since february, they literally get me out of poverty, in terms of wether they place trade on live or not who cares as long as you are getting paid the amount you make, the key is to find a good prop firm with high credibility. 90% people failed prop firm yes but its every where wether you using prop firm or your own fund, focus on your skill Is most important, besides once you getting funded with prop firm and having your first payout after that you literally have nothing to lose and you have a chance to gain huge profit without risking anything (sorry for bad english)
+62 ? sukses bro
@@carpediem9547 Sukses juga bro
@@Valette1 which prop firm are you using ? Just curious as I think personally they are all scams except FTMO
@@davidharrison3574 i use MFF right now because they are way cheaper and easier challenge, my plan is to max out MFF then FTMO
@@Valette1 nice which account on mff you started with? Accelerated or ?
How to tell if the trades are being placed on a life market
Successful people don't become that way overnight. What most people see at a glance- wealth, a great career, purpose- is the result of hard work and hustle overtime. I pray that everyone who reads this will be successful in life💙
How do we know if our trades are getting posted or not
You can ask prop firm. I know for sure ftmo does not post your trades. Even when you have a live account it’s still a demo account. It’s written in their policies and terms of use
99% of "retail" prop firms are casinos so no live trade. True prop firms don't have a challenge but ask a track record.
Is ftmo good ? Because I have been thinking to do the challenge.
13:20 is that not illegal, can't you just report them?
Hi Nick,
How can one find out if prop firm is processing funds in a live market or not?
None
If you're asking this question here, it means no real prop firm would want to work with you. Don't worry it's the same for me and 99% of the people watching.
I believe Audacity, Lux Trading are solid. FTP say they are but I'm still doing my due diligence on them ...
Here's how I look at it, after hitting 10% of capital just withdraw and stop trading till next month. They'll copy such consistency just like ordinary brokers.
The industry is all about the 90/10 rule, it's just where you appky it because even ordinary brokers make up excuses when a trader flips 1000$ - 100 000$.
From what I've noticed, the Top Prop Traders are grouped together and have an exxlusive social circle with the top managers. This further supports the 90/10 rule, just being applied to another form of the same monopoly game.
Nice video though.
Thank You for sharing your thoughts on shady firms. Which firms you would recommend?
You used advertise Traders central what happened?
Futures prop firms by far better than Forex and you can trade indices.
"a 50/50 split in profit makes sense." but how about a prop firm that offers that profit split BUT DOES NOT have any challenges you need to pass? just straight to trading their account after you paid the fee...
Damn I really thought it was sweet. Master my strategy, get funded and pay income tax instead of capital gains tax. I trade futures but I'm sure future prop firms are the same way.
Swap fees are absolutely ridiculous.
They interfered with your real trades.
Depositing money into your account is simple But withdrawing money is never going to happen.
You're going to have all sorts of excuses, like a copy of your bank statement.
That last thing you want to send a bank record to the thieves.
i've just started a FTMO account and just passed stage 1 today, i have to go onto stage 2 and then i get the 20k funded account, it all seems pretty legit though, but bringing this video out has scared me a little haha
Good luck, FTMO is legit, that's what I think tough
I have friends that had been paid by them
Congrats. Keep going ✌🏾
They’re good. Received my payouts no issue. They also have an app to review your account progress.
no worrys with ftmo
Cheers guys
Nick , honestly thanks for the video ,but but but , please help in full ,this is actually very half video . Please tell us about which all prop. Firms are legit . Because now there will be confusion . 👍🏻 Like ftmo ,mff ?
Nick can u tell me a good Prop Broker?
Is FTMO one of those props firm you’re talking about?
He said there are good ones those exist FTMO is one of them
Hi Nick. Please list top US prop firms.
How can you find out if the prop firm is placing your trades on the live market?
None of them are live it's all a lie.
You ask for the broker statement on your funded account.
@@fundedfuturesnetwork do you mean a letter between the broker and prop firm or a statement from the broker of trades you take with them?
Nick does it mean they not actually giving out life accounts to traders?
Is this the same with brokers
Yes. Not A book brokers, but yes to B book brokers
@@TraderNick any red flag video for this brokers like those who give bonus deposits
chill mature and professional
This is why I'm taking the slower route and growing my own funds. Having someone else in control of your money is a recipe for disaster if you ask me.
If I lose, it's on me
Yeah I think you should because that’s you need compound you account so your account can grow overtime and I feel like that it’s a catch to the scheme that they’re offer but they’re telling you.
You pay for a challenge, you pass it, they refund you. No body control your money in this case bruh
@@sanshizer1836 EXACTLY
It's more than just this, they say you are gonna get funded with 100k or 500k but you can only lose 10% -5% of this account, so in reality you're only actually trading with 10k or 5k account
They do that so they can identify if your psychology and strategy can manage risk effectively. They wont let you lose 500k before they realize you aren't that great of a trader. Consider the positive side though, if you make any profit, do they not pay you out as if you're trading the 500k account? They are a business and have to protect themselves before they protect you.
@@omerback007 The only part that matters is what you can lose the rest is fake money, if I can only lose 50k this means that I only have 50k to trade
Nick I respect you and been here for 2 years,
but you are wrong in some degree,
MFF opening their data november-december 2021,
and they clearly inform us that only 1 out of 600(0.16%) challenge bought managed to reach 1st payout without breaking rules,
so here is the business lets say those 600 paid 300$(50k challenge), MFF clearly make 180k,
this amount will be used 50k$ for paying 10% of 50k account per month for the next 10 month of that 1/600 consistent trader.
after that MFF will copy that 1/600 on trader their 11th month with the surplus 130k,while the trader only get 90% of their 50k,
recalculate it to MFF gain 100% of their 130k+10% of 50k account, and that consistent trader get 90% of 50k,
***its down to 75% firms and 25% trader***
so the business will be sustainable if the firms managed to get some profitable trader in their first year,
so saying its equal to CASINO is wrong, since to survive these firms really need to get a good traders to do WIN-WIN partnership.
but that said,
dont buy any challenges from firms below 18 months....
The losers constantly pay for the winners, very simple. Stop making a video that has no evidence to back up your point.. Like what is your point here exactly? If you know so much then help people to find the right firm. You have little to no evidence to prove your point. And dont have the balls to call out any firms. So why make this video..?
You’re just a hater with nothing to back up your accusations while he clearly stated that one of his friend got scammed by a prop firm.
@@tshaolin971 Yeah which one “ prop firm “ scammed his friend ? Thats right he doesn’t say… Your an idiot if you believe things on the internet with no proof. My FrIENd GoT ScAMmed “ can you tell us which one…
FTMO has unlimited free challenges for you to practice and master their 4 basic rules. You then pass a real challenge and verification (free re-try if you finish positive but don't meet the profit goal) upon which they return 100% of the challenge fee! You get funded, you trade, you get paid. I've been getting juicy payouts with them for two years now. Yes there may be a lot of scummy prop firms popping out lately, that's why you stick to the originators of the idea. One other thing, I copy trade my FTMO trades into few of my friends real accounts and it's all real market data even though (YES) I trade in an actual FTMO "funded" DEMO account (FTMO has a live, real market feed into all of their accounts)
If the prop firm wants me to file a 1099, is that a red flag?
Nickel and diming traders for combine fees makes no sense. Prop firms make money when their traders make money. The rules can be tough for traders that aren't equipped with the skillset. There are traders that can meet the requirements. I think its one of those things how traders blame market makers for their failures. Traders giving prop firms a bad rap because they are failing at trading for prop firms.
I was about to make a video about these scams... guess I will wait a few weeks ;D Great content as always!
They are both a blessing and a cure.
That make sense. Thank you.
Funded Trading Plus, Lark Funding, Lux Trading and 5ers are legit. No time limits as it should be. Funded Next seems promising as well, as they have a no time limit program.
Do you not think the 'prop' firms hedge the combined trades of all the traders and has a net position just incase someone gets lucky? Or something like that? Obviously the casino method is not sustainable
Thanks for the enlightening video
Legend. Also I'm not getting video notifications 🤷♂️
Thank u sir Nick👍
Hello sir. Please name drop those brokers so that we can be aware of those brokers. Thanks
A broker has nothing to do with that. He's talking about "prop firms" like FTMO, MFF, TPT, and so on.
Thanks for watching out for us "dumb money" traders.
Nick, is there any prop firms you recommend?
👀
Audacity
Audacity, the 5ers ,city trader imperium
They give traders enough time,
The 75-90 split firms like FTMO are dirtbags, the goal for us here is to get enough money from them to start with the 50/50 firms (the good ones) or fund our own accounts. Don't expect to get big payouts from the 70-90 firms, just cut and run once you have some decent payouts.
I know of Audacity and Lux Trading ... and possibly FTP.
@@villagerintheshire I want to add that there may be some exceptions. TFT is an 85% split firm but their community and customer support is _far_ better than others I've encountered. In general though the more generous the split, the more unethical the firm is likely to be. It's a good rule of thumb.
@TraderNick. It's not even 90%. More like 99%! :D There's a stat posted by MFF last year Oct or Nov. Only 18% pass phase 1. Phase 2: 31% of traders who passed phase 1. Reached first profit split: 4% of traders who pass phase 2. Let's do the math, on a 1000 wanna be traders, 180 will pass phase 1, 54 will pass phase 2 and only 2 to 3 will get paid out and get the refund based on these numbers. They are getting money day in and day out. You are correct when you say these prop firms operate like a casino. The edge is always on their side because 99% will fail the challenge and verification stage. Most will repeat and fail over and over again. Why don't you operate your own prop firm? It's a good business :D :) :p
Wow so 2 out of 1000 will get some money back….. 😢
Is not a good bussiness. Lot of people find a way to cheat. Using 2 account, long 1, short 1, 1 win, 1 loss. once the win get pay, it pay for all the loss. Repeat that, youll get huge a mount of money. As I see still no way to solve those problem by prop firm.
Is real life trading a legit prop firm?
Not going against your ideology per say and each of us have our own opinion but the profit splits theory you presented does not make sense. Which prop firm ever gave you a live account with actual funds of 100k to 300k? None, not even big and trusted companies such as FTMO, yet their swing account does give you a 90% profit split. You cannot say they are cheaters considering they have been longest in the industry and hold the highest standards. What they really do is ask you to take trades which their servers can replicate. You wouldn't know if instead of using 1-10 lots you're trading on demo they would be taking the same trades with 20-30 lots considering the amount of money they have to spare. I have seen the other video you mentioned as well and the dude took a very big name, MFF, considering its by far the most competitive next to FTMO. That profit split they keep of 10% is just them cutting out your profit so they make money both ways, and we are more than happy for that because you're still getting 90% of what you made.
Now to get into the other problem, if they kept the rules really easy then everyone would get funded, even if you're not talented and don't possess emotional stability, the type required by traders to actually succeed. This in turn would mean that their servers might end up replicating trades from traders who acted on revenge from the market but only that FTMO's loss would be much greater considering they just traded 30 lots when the trader only traded 2 lots. Yes, ofc they won't copy trades of every trader that ever made a trade because trading is a 0 sum game, one has to lose for the other to win. They, I assume take their sweet time to know a trader before they start replicating their trades on live markets and if I was running a prop firm I would do the same. There are traders who have made 10% in the phase 1 but failed to make 5% in phase 2. Check MFF's records and see how many traders actually make it to the 3 months mark. Why would you assume that MFF would copy trades of people who cannot be consistently funded for more than 3 months.
At the end of it all, these prop firms are also businesses who want to make money, which is why they have fees associated to the challenge. Do you know how many people would just rush to prop firms if they gave out free challenges. I bet all of those 341k subscribers would rush to that prop firm. So yes, your challenge fees, if failed, does go to the prop firm and they'll do whatever they want with it. Again, yes, there are many prop firms which are not legit, we have seen companies such as Funding talent who have stolen money from people and just closed but the dude in the other video took a pretty big name and people who aren't even funded just agreed blindly. Plus it wasnt even him who didn't get paid out, it was his friend. If you're that concerned about getting payouts go to firms which have made a name for themselves, pay the premium and get what you deserve, no need for trying out newly launched prop firms who are barely running to begin with and offer really cheap challenges.
Ofcourse they're businesses. money comes from the losing traders, like in casino. Just another game for dumb money to play.
@@nylixneylix8785 money comes from a lot of ways brother.. losing traders aren't the only income stream
Totally disagreed! 😂 Used EA, HFT are not realistic in live trading conditions. PPl say robinhood is online casino flatform so haha.
In theory, well over 60 percent of traders who take these challenges do not utilize a Stop
loss and I would argue well over 90 percent of traders do not use stable Money management, which is why they make more money from the losing challenges than what they have to pay the 0.5 percent of winners, and if you add in that well over 95 percent of traders are Net Losers it's easy to see why this business model is so appealing if you are the owner
Which prop firm didn't pay your friend need to know.
We definitely need to know
yes, and that company needs to be exposed.
Blueforexfunds
If you are looking for a genuine prop firm I would recommend Lux Trading Firm(If you are a conservative trader). You can look at their brokerage information, their funding model,realistic profit split,risk management.They want to make money from your profit not from fees. (Not sponsored or anything)
Is funded next is good
which is why UFC owner Dana White was banned in a casino for winning a million overnight😅
Thank you
damn, i been in the trader world for a while, never rlly thought of this…
5% daily dd, when your account drop its no longer 5% from ur account, it got worse, 10k with entry fees of 100$ is totally free risk for the prop firm business model. They get their edge with bs trading rules😂😂😂. better trade with your own capital
Not cool for you to say so many propr firms are bad but not give names to stay away from. At least give names of some good ones.
Love the content. Dislike the thumbnails. But i get it
nick can you like get sponsored by an ACTUAL prop firm, one that you know you can trust?
Come to Lark Funding 😉
@@meetmattl why...? Do you send all trades to the live markets?
Nick we need to know who didn’t pay your mans
I don't understand. If they make so much money from the failed challenges, why not keep those as profit, execute all trades from their funded traders on the real market, split those profits too and make even more money?
That is what they do Andrew, but only when that trader is profitable month after month ( which are a tiny percentage of the people that try this) and not with the traders who just got lucky with there first payout. I don't see anything wrong with that, its just common sense. The problem is that 95% of people that try trading are Idiots that have know strategy (or they just cannot keep to it) and are therefore just gambling, if you have a strategy that is proven over time to give you an edge and you follow it then prop firm trading is a life changer, and Nick's view is very narrow minded and incomplete. the facts are that 95% of people should not be trading and wasting there money because they don't have what it really takes to succeed.
good video
If prop firms only used your subscriptions to payout profitable traders Funding talent would still exist today. Lets not pretend we know how the firms operate, FTMO and My Forex Funds have a high profit split and are legitimate, yes some are scams just use those two and you’re safe. Who cares if they’re not processing your orders????? As long you get paid, if it was as simple as prop firms using your subscriptions to payout traders explain why Funding talent struggled . Yes those subscriptions can be used to pay profitable trades but thats not all surely they need a method to copy profitable traders or else they won’t survive
Hey! I made a follow up in depth documentary on this topic that might be worth hearing. Go to 15:00 into the video on this vid: ruclips.net/video/3LllOJUnOSQ/видео.html&ab_channel=TraderNick
just last week myforexfunds refused to pay my friend :D (edit. it was fundednext)
he made 20% and he got banned for trading news when he was not trading tthem
NO NONO it was fundednext !!!!!! SORRY
@@valtter1234 you see
The market is a casino.
It been long i knew they're scammmers if truly they have traders in mind then their shouldn't be time limit or rather have a reasonable time limit
We all know this already. Simple, use the direct funding firms with no challenge. Adopt risk management to take care of the drawdown limit. Don't use stupid methods like arbitrage etc. Make small withdrawals like 5% of the capital, they can afford that. Or if you're young, start with 1k account and compound 30 yrs until you make real money.
First to like too 😤
Ponzi?
Yup.
3rd
1st :v
Nick
What don’t you start a challenge on FTMO or MyForexFunds “the most popular funded companies” and get solid conclusion for all of us?