it is easy to know if traders are profitable......they may be asked to link to a mql4 signals where every trade will be shown. why ask for any fee up front if you are really looking for talent to fund. you are looking to fund yourself,not traders
This is a fantastic question. We do use parts of the sign up fees to fund the traders, of course we are a business and businesses need to turn a profit but majority of the sign up fees go to funding the traders. Also, if we did not have sign up fees, then we would not have funds to have customer support staff. There is more aspects to a business than just funding the account
“ In the Ghaney Affidavit, Ghaney represented that: a. the Company is an online pay-to-play learning platform for Members who want to play and learn about retail investing; b. none of the Accounts contain real dollars and no funds are ever deposited or withdrawn from the Accounts; c. Members who play within the Rules set by the Company and generate fictitious profits are paid a “Talent Bonus” which is paid from revenue generated through subscription fees; d. the real accounts do not contain real dollars. They are also simulated accounts and there is no real trading conducted in these accounts; e. Membersusinganytypeofaccountareneverintherealmarket; f. Members are never provided with real money in which to trade and all trades are conducted on demo accounts offered by brokerages that the Company has chosen; g. for a subscription fee, a Member has access to what is akin to “monopoly money” to trade with on a simulated market; and h. there is no “profit sharing” of any proceeds from any real world trades. A member can earn credits and take a portion of those credits out as cash which is funded through subscription fees collected from other Members.” https://nssc.novascotia.ca/sites/def...20Decision.pdf NOW WE KNOW THAT FUNDING TALENT IS JUST A GAME , ONLY MONOPOLY MONEY , NO REAL TRADES IN THE REAL MARKET THE MORE THE PROFITABLE TRADERS MAKE , THE LESS FUNDING TALENT MAKES so do you really think they like profitable traders ? P.S. People at ET trade with REAL money
This is all correct technically, which our CEO, Jessica did comment on this on our Instagram page. The truth of the fact is, most prop firms do not use real money. We are transparent that we do not, but that does not effect your ability to get paid out at all. We pay out all of our traders, the entire amount they are owed without fault. So, you can compare our firm to theirs, but the matter of the fact is you do get paid out based on trading results. I dont think that it does matter if its Live account money or us paying out. We have the best profit splits, lower profit targets, and world class customer suport. I wish you the best of luck in finding a firm that works for you, our traders know that Funding Talent works for them.
ever consider the possibility that the main objective isnt to " reveal more successful traders"? if not that, then what? IT IS A GAME! you sign up, and if you play good, respecting the rules, you may get rewarded. BUT YOU DONT TRADE LIVE as is a trader. probably best describe like a real life soldier vs an Xbox gamer. both have skills, some in useful in both line of "work", but one is real bullets flying, the other is a one button reset. discplaimer: I like Xbox. nothing against it. but playng a sniper in a game 1 evening a week, doesnt makes me a soldier. plenty giveaways where the reality and the fiction diverge. and doesnt say FTMO dont PAY! they do pay. ( at least for now). like in any game, when the interest drops, most online game servers disappear too. ppl move on to other games, and the fees just stop paying for running the show any longer, overhead and all. Deloitte doesnt award FTMO ( FF Trader) for being a propriatery trading firm actually. "FF Trader s.r.o. developed an online training platform for traders on financial markets. The platform is built to educate clients about proper risk management techniques and to motivate them to be disciplined in trading." the source of the above quote: is Deloitte's own website. text posted undeited, if some wonders. yes, a fancy way to call an INNOVATIVE TRADE SIMULATOR! that is that! and nothing is wrong with this. they did well, and best shown that many of the popping up "competition" is using the same or similar model they good part copied from FTMO. a side note, that this very same part knock off competition will be the catalyst to end the exact model, cutting each other's throat while manuvering for a larger slice of the pie. this post about one of the copycat "prop firm" was overlooked by large, https://www.forexfactory.com/thread/...2#post13489702 in it is everything one need to understand the "business model", complimenting the above from Deloitte very well. it is OK to play the game. but it is good to know what game you are exactly playing, so later it isnt a surprise. a spade is a spade, even if the cheerleader squad doesnt like to admit to that fact. countless number of posts went into what trades copied, what not copied, where the answer is so clear about. FTMO is not a FUNDING FIRM! it is a trading simulator game with cash rewards! like Las Vegas slots. a well calculated % of the players will get rewarded, to keep the balance of the dangling carrot ( reward) vs the hungry rabbits ( new "talent"). please dont bother to quote this post, i wont go into further details, all is there what anyone who is interested to understand this "industry" ( what a BS in this context!) needed. “If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.” https://www.forexfactory.com/thread/post/13492802#post13492802
Thanks for your input and opinion! You are correct mainly, but we do payout our traders and we just processed a 40K payout the other day for a 19 year old trader who has no affiliation to our program except passing our challenge. The interview will be up on youtube in the coming days. Also, you do have to trade well in order to get paid, so the video game analogy doesnt really work. We do not track trades that would not process in live market conditions. Also, Ms Ghaney herself did pronounce some traders are connected to live capital, just not all of them so we preferred to be transparent. As said prior, by both you and I is that the best part is that it does not truly matter who is and who isnt. The matter of the fact is that if you trade well in live market conditions then you are going to get paid out your profit split, Only consistency rules apply to the Classic Flex so we can not deny your payouts on our Elite accounts. If you have any more questions or concerns I would love to go over it.
some traders ? Please , share with us how much % of traders are connected to live capital . I state that 99.89% of payouts are coming from subscription fees it does matter from where payouts are coming from in the case subscription fees go in a sharp decline and a few traders make a killing then you cannot guarantee that traders will get paid . It is like a PONZI ..
We do not disclose our statistics unless there is a reason to do so I can confirm, without doubt that your statement is incorrect. I am unsure how you would come up with these numbers unless it was just completely random. Part of our sign up fees do go to payouts for our Elite Traders. This is actually the standard for the online prop industry in all companies so I recommend doing a bit more research.