Alternatives to Darwinex

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IlIlIlIlI

Active member
214 194
Thy will reward the few winners with a demo account with some excuse like FTMO is doing.
Please specify that for FTMO - I didn't find anything against FTMO paying their traders until now besides the traders broke their rules (which partially are traps as there are on every program)
 
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CavaliereVerde

Experienced member
1,147 1,526
They are givindg demo accounts they state it clear.
Than you can believe to their explaination or think it is a excuse to avoid a real risk for them.
 
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IlIlIlIlI

Active member
214 194
They are givindg demo accounts they state it clear.
Than you can believe to their explaination or think it is a excuse to avoid a real risk for them.
The make their rules mainly in a way that the divergence between demo and real account has to stay low.

Their rules include traps like
- minimum 10 trading days per month (I don't know whether vacations are possible to agree, but you can run a lazy EA with 1 microlot trade size to keep the damage of it low for a couple of days :))
- no open positions over the weekend (you should pay your internet provider in time) to avoid trading any gap results on the demo produced by tp or sl orders (you know that MT4 demo is trash on that point)
- no news trading on specified assets, including trade execution on sl and tp orders
- a tough daily loss limit
and maybe the one or the other more.

It is just an advantage for German citizens that you don't trade a real account and the result does not affect your trading losses capped in the tax declaration as published here on my investment portfolio. You send an invoice to FTMO and they pay it.

Another disadvantage could be that they work with IC Markets, Admiral Markets, CMC markets and other brokers who pay a high affiliate commission and I'm sure they know how to get it. Clients might pay for that by oversized spreads and irregular market moves or strange prices from time to time. Even if I never saw that on my MT4 demo during the free trial period, I know that can be a different price feed. But you are also not refunded from LMAX if a provider does not offer prices during the market opening. That's a kind of bad lottery which happens very, very seldom until now.

I'd really like to know who makes money with FTMO for several months or longer than one year. Youtube videos about periods of more than 12 months business relationship with them are very rare.
 
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itstradingtime

Member
74 209
@itstradingtime , @TrainerTXR: is it attractive
If it is like that, it might be worth considering.
I joined the world cup of trading last month. On the website it was written that you needed to join through ATC Brokers if in the UK. I already had 2 accounts, but I had to create a new one for the competition.
Spread is up to 10 times bigger than the normal account, while commission is 3 times bigger. Obviously, the only one really earning from this thing is the one who created the competition, who clearly has an agreement with the broker to rip off traders who join (like me) :)

I might actually have a chance to pass the FTMO challenge this month. Starting last week with +9.1%, so another 0.9% to go.
In case I pass, not sure if I will be joining next one soon. These competitions are quite time consuming and, right now, I wouldn't exchange 1 month of commitment not even for a million dollar account :)
 

TrungLN

Active member
227 328
Hello all,
An update of mine from MyForexFunds.
All the register fee will be refund to us after we earn 10% profit.
Technically, it's free for profitable traders who can make 10% profit with 12% abs DD in unlimited time.
IMG_20210301_133223_271.jpg

Screenshot_20210301-140215.png
 

CavaliereVerde

Experienced member
1,147 1,526
Technically, it's free for profitable traders who can make 10% profit with 12% abs DD in unlimited time.
This is to make sure that you will trade, they make money with commissions.
If you forget to trade they keep your 99 ... 😁
So first you pay
than you deposit
than you are refunded if you earn 10%
 
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TrungLN

Active member
227 328
@itstradingtime, @TrainerTXR :
Recently, traders benefit a lot from competion of prop firms. Prop firms have to improve themselve.
And latest, it's funding talend.

They opened challenge model same as FTMO but more attractive:
- Target 8% profit, abs 10% DD.
- 80% profit split.
- Allow news trading and overweekend hold.
- Biweekly payout.
- 155$ for 25k$, 610$ for 100k$ challenge.
- Max fund up to 300k$ per trader.
They really want to destroy FTMO.
And soon, MFF(MyForexFunds) will comes into play with better offer than funding talent.
 

IlIlIlIlI

Active member
214 194
@itstradingtime, @TrainerTXR :
Recently, traders benefit a lot from competion of prop firms. Prop firms have to improve themselve.
And latest, it's funding talend.

They opened challenge model same as FTMO but more attractive:
- Target 8% profit, abs 10% DD.
- 80% profit split.
- Allow news trading and overweekend hold.
- Biweekly payout.
- 155$ for 25k$, 610$ for 100k$ challenge.
- Max fund up to 300k$ per trader.
They really want to destroy FTMO.
And soon, MFF(MyForexFunds) will comes into play with better offer than funding talent.
1614849476115.png


Are EAs allowed or not?
 
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TrungLN

Active member
227 328
Years ago I have written a very simple trade copier .. will they accept it? 🤣
About EA usage and copiers, please consult them for more details.
I think they means that if EA is written by you and you copy trades of you, you are fine to use.
 

BlackPipper

Newbie
2 0
I think The5ers has the best model among all forex prop firms. FTMO is awesome but two-step evaluation and short period with high targets are some factors that make it #2 in my opinion.
 
 
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