Evaluating Prop Firm offers

Discussion in 'Prop Firms' started by TrAndy2022, Oct 15, 2022.

  1. This looks very detailed! Is this something you made or is there a website that provides this? Thanks.
     
    #21     Oct 17, 2022
  2. Overnight

    Overnight

    Well, I looked into it a bit, and picked the first one on your list, LMFX. While I was browsing the site they came up in a chat.

    Here's the convo...

    The user "None" is myself.

    ---------------------


    "....

    None 09:32 PM
    Are you able to open an account for US citizens based in either the USA or Europe?

    Martin Rivers 09:32 PM
    Yes, of course.

    None 09:33 PM
    I thought CFDS are illegal to trade in the US.

    Martin Rivers 09:34 PM
    Since we are not regulated, no such restrictions apply to us.

    None 09:35 PM
    How would a CFD trade be mentions on a USA tax return?

    Martin Rivers 09:36 PM

    I am afraid that is not something I am able to answer as we do not provide any tax documents or the like.

    None 09:36 PM

    You do not provide broker statements?

    Martin Rivers 09:37 PM

    We provide daily statements for the live account, or advice our clients to export their trading history from the MT4,

    and use that for tax purposes.

    None 09:38 PM
    O really like the idea of CFDs. BUt I kept hearing that US citizens are not allowed to trade them. I am very confused.

    Martin Rivers 09:40 PM
    I am unaware of that being the case.

    None 09:40 PM
    It is a disclaimer on your website. "All information on this website is not directed toward soliciting citizens or residents of the United States, United Kingdom, Japan or any other jurisdiction that would be contrary to local law or regulation. "
    So apparently there is US law which prevents this.

    Martin Rivers 09:43 PM
    As far as I am aware there are regulations on what trading conditions US clients can be offered by US brokers, however that does not apply to us as we are neither a US based brokerage nor are we regulated.

    None 09:43 PM
    Interesting. Thanks for your time, I will have to dive into this more deeply. I don't want to run afoul of the laws.

    Martin Rivers 09:44 PM
    You are welcome. Is there anything else that I may assist you with?

    None 09:45 PM
    Yes...You mentioned MT4 specifically. Does your service work with MT5?

    Martin Rivers 09:45 PM
    We do not support the MT5, we operate on the MT4 exclusively.

    None 09:45 PM
    K, thanks

    Ciao!

    Martin Rivers 09:45 PM
    Thank you for chatting. Should you need any assistance or information, please contact us. We are here for you 24/5 .
    Martin Rivers has closed the chat."

    ----------------

    Now I really AM intrigued, because a CFD is the closest thing one can get to a continuous futures contract there is. But the whole offshore unregulated BS makes me hella' nervous.
     
    #22     Oct 17, 2022
  3. GotherL

    GotherL

    Heh, got my profit target overnight with $90 trailing drawdown left. ES went bonkers!
     
    #23     Oct 17, 2022
  4. GotherL

    GotherL

    You mean this? That's the performance center on Tradovate. I am not that smart as a matter of fact I consider myself an idiot.

    upload_2022-10-17_23-50-46.png
     
    Last edited: Oct 17, 2022
    #24     Oct 17, 2022
    FuturePropTrader likes this.
  5. wmwmw

    wmwmw

    You can open an anonymous account at coinexx with only an valid email, as long as you make deposit and withdrawal via crypto.So no one except yourself even knows your true name.
     
    Last edited: Oct 18, 2022
    #25     Oct 18, 2022
  6. Yup, that's it! hahaha thanks.
     
    #26     Oct 18, 2022
  7. GotherL

    GotherL

    Just pass their evaluation.

    This agreement line say they'll charge $80 after 13 days correct? Just making sure since I don't have it atm but will have it by the end of the month. (Legal documents are a pain to read.)

    upload_2022-10-20_21-46-43.png

    Wait, I missed Line 1. So I need to pay $80 immediately and another $80 after 13 days. Screw that!
     
    Last edited: Oct 20, 2022
    #27     Oct 20, 2022
  8. legionx

    legionx



    Thirteenth vs Thirtieth :).
     
    #28     Oct 21, 2022
    shuraver likes this.
  9. GotherL

    GotherL

    Thanks for pointing that out. My brain wasn't working atm.
     
    #29     Oct 21, 2022
  10. rondawes

    rondawes

    TradeDay also offers Tradovate.
     
    #30     Oct 21, 2022