How To Get Your MONEY BACK From TFT! | Which Prop Firms Are Safe?
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- Опубликовано: 31 май 2024
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0:00 What happened to The Funded Trader
1:05 Why prop firms fail
3:29 How to get your money back
7:57 Which prop firm is safe to use?
9:54 Be careful with new prop firms
DISCLAIMER:
This is my opinion and experience. I am not a registered financial adviser. Everything provided in this video is purely for educational purposes. Do not invest money you cannot afford to lose.
#forex #ftmo #propfirms #forextrading #thefundedtrader #myforexfunds #scam #ponzi #refund 
Развлечения
Great vid, many thanks.
No worries! Glad to help :)
Thanks for the update Marko! 💪
No problem James! 💪
Thanks for the clarifications, Marko, nice video!
No problem! Glad you like it Ivaylo :)
I’m only going with the 5%ers and alpha capital group right now.
No issues at all so far
Nice! I just bought an Alpha capital account! Good luck :)
I don’t think it’s possible for any prop firm to survive if they only rely on failed challenges
I would agree with you. If they want to survive a decade then they must start A booking some traders or force the profitable traders to reduce risk.
Don't they copy trades of profitable traders in backend?@@markostradingjourney
Very good points Marko! I too would be surprised if they came back.
Thank you very much Nick! With the way they have been doing business in the last couple of months I really don't think they are coming back. Liquidity has dried up.
take the money and ran away!
You talk the reality. ♥️♥️
Thank you bro :)
Unfortunately, my bank declined the chargeback request in the case of MFF, and it won't work here either. They say this is a civil law agreement between the customer and the merchant where the bank is not allowed to intervene.
Hmm that is unfortunate. Almost all traders that I know managed to get a chargeback from their bank. Might be worth it to open a Revolut account in the future so you can pay for prop firm challenges. Revolut is pretty good with the chargeback processing from what I have heard.
ME TO ,I FORME CHINA ,MFF LOSS 12M,TFT LOSS 55M,......
@@markostradingjourneyit’s funny as you said most traders you know could got money back. You know nothing or so little, and your video no help. Focus on trading bruh. Stop filming.
What do you mean by 5%ers started booking traders? Can anyone explain
There are 2 options when a trader receives a funded account. A prop firm can either A book them and forward their trades into the live market or a prop firm can B book them and keep their trades in house, essentially taking the opposite position of the trader. All prop firms B book traders. 5%ers apparently actually A books some traders and takes their trades in the live markets. So when a trader makes a profit on 5%ers, 5%ers makes a profit as well.
Hi Marko, I want to ask a question? I have been funded with SFT since 25th December 2023 and have received 4 profit splits so far and I was going to continue with them, but since they also went bankrupt like TFT, can I still get my refund from this account? I bought it with Revolut at the beginning of December last year?
I am sure you can! Definitely contact your bank and explain the situation!
SFT is owned by TFT
is it jsut credit card or can it be your own bank card like debit card ?
I have only tried it with a credit card, but I am sure a debit card works as well!
Really nice video, gives a lot of hope... what do you think, can i make a charge back from all challenges i purchased? or you can make only new payments for chargeback?
You should try to do a chargeback on all the challenges you purchased. You can't lose anything and you may potentially get a lot of money back :)
i think alpha capital is gonna be as big as ftmo because their ceo is a british regulated financial manager
We shall see but I think FTMO will remain king for a long time! 💪
Definitely good marketing..
Alpha capital recently tweeted saying regulation is bad and our trust is just needed for the industry which itself is shady.....Anyone giving promos and offers regularly to get new users is a shady sign...
@gopimohan26 if regulation comes, and they say you can only have 1:10 leverage or something very restrictive, it will change the current prop firm model I will definitely purchase alpha capital challenge than some kids prop firm
@@mkkm8540 what assurity you have that a firm that says regulation is bad wont end up like TFT that blindfolded the public due to lack of regulatory controls?
What if the payment was done more than 150 days ago? I read there's a time limit for chargebacks
There is a time limit but it all depends on which bank you are using. Contact your bank and they will let you know the time limits for chargebacks.
Would this work with a debit card too?
I think it should! I only tried it with credit card but debit should work as well :)
can this happen to other props as well? like rest of fx ones and also futures props?
It can happen so you need to be very careful when choosing a prop firm! Stick with the companies that I talked about in the end of this video :)
Tbh.... I don't think we need to be wary of new prop firms.... I've had accounts with TopTier and Alpha and everything has gone well, the payouts are solid and they've grown remarkably.
But you never know when a new prop firm will blow up. Its all fine in the beginning since they are getting an influx of new traders and those traders are mostly failing the challenges. Let's see what happens in 1-2 years with the new prop firms.
The problem is that I bought my challenge like 2 months ago and I was still doing my challenge phases... I probably can not get my money back at this point?
You can! The service was not fully delivered so you are eligible for a chargeback.
How about debit cards ?? Can we get charge back for debit card transection ?
I have only done the chargeback process with a credit card but debit cards should work as well! Contact your bank and see :)
@@markostradingjourney thank you
Marko 🔥
Let's go 🔥
Anyone using UBS bank ?
What about funding pips
I haven't done much research into them. I would stick to the 4 prop firms I recommended in this video.
Are there any problems with take profit traders?
I am not sure what you mean by 'take profit traders'?
can I charge back all of the money Ive spent over the year from tft?
You should definitely try! I do think there is like a 365 day time limit on chargebacks but contact your bank and explain the situation to them! They will help you :)
How about fundednext?
Haven't researched them, but I would stick to the prop firms I mentioned in the video :)
REVOLUT said me that doesnt make the refund cause the payments were more than 120 days....someone have the same trouble?
Yeah, it all depends on the bank you are using. Some banks have a 120 day limit while some banks have a 365 day limit on chargebacks.
How can you recommend Funded Engineer after that whole scandal?
Yep.. If they falsified payouts, just think about what other shady things they're doing behind closed doors
People have been steadily getting payouts and FE is back and operational now. I would still say FTMO and 5%ers is a much safer option than FE. FE is still veeery new.
Does debit card work? I paid by debit card.
I only tried it with my credit card, but I am sure a debit card works as well with the chargeback process!
@@markostradingjourney I see , I contacted my bank card center, they said the payment already been made and authorized by me, they can not do anything about it, they said only merchant can refund. I explained my situation that merchant scammed me and I didn't get the service that I paid for. They said still they can not do anything with it. What a shit, I would trust if it go through PayPal, we can charge back easily. The firms accept crypto only is like a scam, we can not file a complain. Hard truth, TFT was selling challenge until last week, I lost my saved $54 (60% discount on 25k dragon challenge)😭😭😭 whole world is turning against me. My dream vanished badly.
When the CEO of a company looks like a 17 year old kid wearing shorts and sandals that should be your first red flag ...
Yes! That is exactly what I was thinking. He just looks so shady 😅
I use a Switzerland account, they dont play, if they say they will get your money back, be rest assured
Yes!! You don't mess with Swiss banks 💪
Why don''t they just A book all the trades. All they have to do is hire certified people to place the tradeds.
Because 95% of traders lose money even once they are funded. So the prop firm would essentially lose a lot of money if they A booked all of their funded traders.
I think they should do that to traders who have widrawn 3 times and had less drawdowns.
Also they should hegde agaist some losing traders. They should not rely on only new traders to fail challenges
Thats a bad business model. Make money from the already existing profitable traders. That way even if u can have zero new subscribers to buy challenges u wont go down
@@sibonelelohlatshwayo7753 There are some ways to A book traders, I am not sure why they didn't look into it and instead just B booked everyone.
I paid via debit card 💳 will it work?
I only tried it with my credit card, but I believe a debit card works as well! Contact your bank :)
Can we do a charge back on FTMO since they banned US customers?
Were you just banned or did you breach the rules on your account?
It's quite a little funny because you used to diss FTMO. Great video though.
Yeah FTMO is still somewhat shady and has some drama. I still stand by what I was saying in the past. Every prop firm is basically like a casino and bets on traders to fail. But if I had to recommend a firm I would say FTMO is still the safest one. That should tell you a lot about the state of prop firms hahah
Is 5%er ABook firm
Apparently they are. No one knows for sure what is happening behind closed doors but I do trust them.
damn, that give me hope, i had 3 funded account, and was waiting for first payouts, 25k USD total. Now it seems i dont even get a refund for any of them. Hope my bank will help me
Definitely contact your bank and explain how you got scammed! They will get your challenge fees back! Sorry to hear that you had such a large pending payout :( But if you did it that time I am sure you will manage to do it again on another prop account!
@@markostradingjourney Thanks for kind words. We could see it coming as in their funded trader channel on discord a bunch of guys like me were waiting for payout since 22.02.24 so over a month, where they declare payout in 3 business days. So we started mentally preparing for the rag pull, so to not have too high of an expectations. That said its still pretty devastating.
I wish there was more people like you to stop all these scammers, they need serious jail time for that, keep doing what your doing *Briskdeft* put the wind up these low life oxygen thief Love what you guys do keep up the great work mate well done Respects ..
See they think they getting away and I will see one of them and someone will get stepped on just watch
1-2 Mayweather
we are from sri lanaka can we get our money back ,,, from this way
I am sure you can! Contact your bank and explain to them how you have been scammed! They will get your money back using the chargeback process.
Lmaooo u made that sounds like a mlm scheme 😂😂😂
Prop firms are a scheme, especially if they B book all of their traders and act irresponsibly. Just a matter of time before they go down.
@@markostradingjourney I didn't look at it like that
Did you get your money back?
I never bought an account with TFT. But I did get my money back from MyForexFunds when they went down using the chargeback process I talk about in the video :)
Wbt funded next
Haven't done much research into that firm. I would say stick to the 4 prop firms I recommended in this video!
Has anyone tried this with a master card credit card and been successful
I done it with Visa but I am sure Mastercard is the same process. It all comes down to how helpful your bank is for getting your money back.
Switch to Futures
Futures prop firms have so much stricter rules. Its just not worth it. I made a video comparing Forex prop firms to futures prop firms. Its on my channel feel free to check it out :)
I also want to encourage you guys to file a complaint with the CFTC.
Definitely! But that is for US citizens only right?
@@markostradingjourneynormally US residents who were “solicited” file a complaint, but anyone can file a CFTC complaint if they believe there’s financial misconduct. I uploaded Angelo’s Instagram stories, voyage markets statement and discord receipts as proof.
The card thing may save my life. Thank you!
@@markostradingjourney anyone can file a complaint! If there’s any wrongdoing, they’ll look into it.
@markostradingjourney yes correct
@@markostradingjourney nope. The complaint is so the regulator can compile a case to present to the DOJ. It’s so they look into the issue
They will never come back, because in the next few days there rating will go down to crap. With that rating even if they come back they will not be able to get any new clients.
Correct! They are gone forever!
I think they will be back with a new name and new trust pilot. They know there is too much money to be made
I think so as well. Hopefully people will remember the shady business they were running with TFT. People don't change. Low integrity people will always be just that.
in Africa we pay with crypto ,we being taken advantage on
Always pay by credit card if you can! If you can't then I recommend you find a prop firm that accepts cards.
@@markostradingjourney thanks. not going for prop firms anymore, I'm off to crypto
Forex prop firms in the US is done.
Yes! Only futures prop firms are left for US traders.
Alpha capital , the 5 percent , and ftmo do not give huge discounts meaning they are real business.
Exactly! Well Alpha capital does give huge discounts but I trust them so far! I like their management team.
I don't know why prop firms don't trade yourself
I am not sure what you mean?
@markostradingjourney sorry it's a typo. I mean prop firms right? They must have some good traders in there , so they can get them to trade and bring some cash flow that way ,relying on account fees ...... that's just not a solid strategy at all ....
@@markostradingjourney let's say I got 1 million , and I need good traders , so I will find 5 , give em 100k each ,80/20 ratio, rest of the 500k I trade on me own and keep it as cash flow, I'm dont know that deep but .
Trying to run a business on bad traders .... man thats just not a way of making money , no supply.....
@@mustezdcs6329 I don't know either, that is a good question! I think some prop firms are starting to actually take the trades from its successful traders.
Anyone who got his refund?
I believe it takes minimum 30 days for the chargeback process.
Thank you Marko, finger crossed for the fee refund.
No problem! Good luck, I am sure you will get your money back :)
You can not chargeback after 60 days
Depends on your bank. My bank has a 180 day time limit I believe. Some banks have a 365 day time limit on chargebacks.
This not going to work with your bank.
It worked already with the MFF scandal. I got my money back without an issue :)
American banks are not in the business of giving you money backfor your dumb decisions.@@markostradingjourney
Your gonna get laughed out of there.@@markostradingjourney
@@markostradingjourney are youfrom US ? and what is your bank?
I am from Croatia. My bank is called Zagrebacka Banka. It is a local bank :)
And if you’re in the US then you’re SOL basically? 🤣the top names have to stay away
Yeah US people must stick to futures prop firms unfortunately.
NO PROP FIRM WILL EVER A BOOK YOU DONT BE SILLY
5%ers actually A books some traders!
I wish there was more people like you to stop all these scammers, they need serious jail time for that, keep doing what your doing *Briskdeft* put the wind up these low life oxygen thief Love what you guys do keep up the great work mate well done Respects ♻️🫡🫡
I wish there was more people like you to stop all these scammers, they need serious jail time for that, keep doing what your doing *Briskdeft* put the wind up these low life oxygen thief Love what you guys do keep up the great work mate well done Respects ♻️🫡🫡