Hi everyone, I appreciate your inputs on this. Are Forex prop shops offering funded accounts legit? I've read about FTMO, and now, i'm looking at trader central fund. Any opinion is welcome. Thanks.
Topstepfx is probably the biggest one since they also have topsteptrader for futures. They have been around for years, if i where doing some Forex funded account thing i would probably go with them since they are (at least in my opinion) least likely to close up shop like some lesser know futures funding companies did previously. However you should be asking yourself what the real intention of these companies are. Is it funding traders and making money from the 20% fee or is it to sell as many combines as possible over and over again. Clearly it is the last and getting funded or staying funded is quite with those tight trailing stops. Although it seems like there are less rules with the FX version compared to the futures version.
I am going to go with this firm. They are sponsors here. https://the5ers.com/?utm_source=eli...campaign=elite_trader_forums&utm_content=Logo https://www.elitetrader.com/et/threads/the5ers-funding-forex-traders-growth-program-q-a.347742/ My success is up to me. As long as I do not get in a hurry everything will be fine. My only concern is if I get paid each month...as long as that happens I am happy.
The failure rate in forex is about 90% to 95% No prop firm in the industry is legally allowed to give out live accounts directly to traders. That would require regulation which at this point none have acquired. If they are telling you the account you directly received is live and it’s not regulated, its false.