So they are saying the Futures market for one of the most liquid contracts on earth like the 10 year T-Note has been wrong priced ??? Or are they complaining that Rithmic could not provide proper realtime quotes for the most liquid futures contracts, really ? I did not hear of any problems on that. Apex also says that SOME TRADERS did exploit this mispricing, especially those ones who requested large 6-digits payouts, we heard yesterday from my first youtube video I posted yesterday. I do not believe this. That one is doing all the calculations between spot and futures market and then do arbitrage for 1 tick maybe mispricing in the futures quote, this is dogshit. They take this just as an excuse that at this time some traders had a position opened in those interest rate futures markets, to not payout anything. This is outright fraud and nothing else. It seems like APEX are asking market makers how on earth they had a successful trader in their own books.
I think Topstep is honest, but many long-established members of trading forums who are now trading funded accounts with TradeDay and E2T also seem to report regularly that all their trades hit the orderbook and that payouts are entirely reliable. The CFD ones, obviously, are just internalizing everything (and are also closing down very regularly). It's been clear for a very long time that Apex is a complete scam and uses a huge variety of tricks to avoid paying out. Nobody who's done any due diligence at all about the owner's history in the binary options "industry" is surprised.
The fact that these fake ass "prop firms" rely on grifters masquerading as traders to promote their business tells me all that I need to know.
Earn2Trade implements an intraday trailing drawdown on their live account. Same as APEX. That sucks. TopStep require 5 +200$ winning days before to be able to withdraw 50% and 30 +200$ winning days to withdraw 100% ?! WTF.
Didn’t know that. That definitely sucks! There’s absolutely no equivalent of that in any other kind of real trading: it’s entirely unnecessary and purely a ruse to stack the deck against people. That’s maybe not so unreasonable, really? It wouldn’t realistically stand in the way of anyone serious, with any trading skills, anyway?
I was a fan of E2T TCP but that intraday trailing stop on live account is a deal breaker. That TST withdrawal policy isn’t a deal breaker but 200$ hits different for the smallest or the biggest account. Why 200$ ?! And 5x200$ is 1,000$ … I mean if I achieve 100$ x 10 days then I can’t withdraw because I’d have 0 +200$ winning days. I think it’s fine to impose limits for withdrawal but make it less arbitrary.
The issue is on the sim side, the quotes are off and a group of scammers exploited this. They are a coordinated group of scammers which only target prop firms which are sim with no path to live account (like Apex, Bulenox). Please see this video for more details. Those scammers are so shady.
Prop firms are a gamblers paradise. In all honesty they are probably losing a lot of money as of late.
Why on earth would anyone deal with any of these scams in the first place? If you're good, trade your own real money. If you're not good, either learn or find something else to do.