That's the beauty of this business model. I "made" over 80K in a single day last year. Total capital cost for me was $1490. There's no chance in hell I'd make 80K with a $1490 account. I used quotation marks as I at that point couldn't withdraw more than half (still a decent return on my money). Sadly, Topstep (which was the firm I used) have tightened up their policies since then. It's still an attractive proposition, but the drawdown is tight.
Thank you sincerely for your kind words — I really appreciate that. It’s always encouraging to hear from fellow traders who understand the challenges we face, especially when dealing with firms that have complex (and sometimes shifting) rules. I hear you 100% on using your own broker and capital. That’s likely the most sustainable path long-term, especially when trust becomes an issue. I’ve filed official complaints and shared my story publicly so others can be more informed before committing. Thanks again for the support and the solid advice — wishing you safe and profitable trading ahead!
There was a guy on here briefly a few years ago who took legal action after being owed $200K by a forex 'prop firm'. Never got an update on what happened. My guess is your best bet is to apply some pressure through social media. See if any of those scam influencers will support your case.
Thanks for the insight — I’ve actually already started that process. I’ve filed complaints with the FTC, CFTC, and BBB, and I’ve been active across multiple platforms to bring visibility to the issue. So far, I’ve connected with a few others in similar situations — and I think more will speak up once they see they’re not alone. If even one known influencer or trading voice gives this attention, it could force more transparency. It’s not just about me — this could affect a lot of traders if left unchecked.
Hello billT, You more than welcome. I wish you well as well buddy. Good luck on your journey. I was with prop firm as well, but after a few bad experiences and disappointment with payout, bad data feed, broke copier not working, I decided to trade my own account be at peace. The ability to trade 20 accounts with a copier is teasing, but I prefer the peace of my mind with my own account. I am not against prop firm, it is ok to use, but I have outgrown that phase in my trading journey.
I am not saying you are misunderstanding how prop firms work, but a prop firm that has no, or barely any intention to move traders to a live funded account cannot be a legit prop firm that has traders best intrest in mind. A legit prop firm would have placed you in a live account after that kind of performance and then wouldn't have had any issues paying you out, since you actually would have made real live money for both yourself AND the prop firm.