Please update this matter if you ever get a proof of purchase. As this is very concerning if that trustpilot complaint is really true. I also do understand if that cannot be detected each prop firm can get nervous with your offer, as you are promising your customers kind of guaranteed payout if they follow your instructions. And guaranteed payouts are guaranteed losses for any prop firm. So they could start such marketing attacks on trustpilot and elsewhere. The big problem for props is that if your offer get too much attention with this reverse trading across accounts, with broker personal live account involved, then any prop firm could go bankrupt, as they rely on the mass of failed challenges to pay any payouts out of the captured challenge fees. So your formula you advertize is the formula to bankruptcy for any prop firm if it is well-known and widespread among most prop firm customers. Therefore you as firm need to invest also in your own hardware and internet security and security overall, as it is clear to me that rather sooner than later you get hacked from someone stealing all your customers data, so the prop firms know which customers with full address have bought a license from you. Just be aware. The problem is that the money incentive of preventing millions of losses in forms of payouts to your customers, is so big that such a hacker attack could be easily financed. But I do want to paint the devil on the wall here.
when any prop firm could go bankrupt, as they rely on the mass of failed challenges to pay any payouts out of the captured challenge fees. So your formula you advertise is the formula to bankruptcy for any prop firm if it is well-known and widespread among most prop firm customers... iT IS INTERESTING TO READ all this... now we have "pay for test props firms" and a mirror offering opposite.... let the battle begin
That's not our intention, our philosophy is based on helping traders minimize their risk and maximize their benefit. The question is why do Prop firms have to rely on the mass of failed challenges while they have a bunch of successful traders who can generate more revenue and attract large investments? Aren't they supposed to be the "mines" where good traders are discovered and polished? With or without PropEA, the current business model is flawed, and Prop firms will eventually need to adopt a different business model in which their benefit is not dependent on the 95% of failing traders as it is now, but rather on the 5% who can trade and benefit others. In that case, only those Prop firms who stay true to their claims can survive, introducing new real prop traders to the market and making them available for everyone to follow, and that’s exactly what we need. If that happens, our mission would be accomplished, and PropEA can rest in peace. We have other achievements to pursue. But, don’t you wonder what happens to prop traders who get funded? Why isn’t there some kind of a public leaderboard featuring top traders and their performance on any Prop firm websites? Whose “money” are they really trading? And why aren’t they available for investors to invest with them? Wouldn’t make sense if Prop firms charge performance fee to investors who are willing to invest with their traders? Lots of questions to be answered. Meanwhile… 1- We’re giving traders a tool to manage their costs and stop bleeding their pockets on a new challenge every time they fail. 2- We’re eliminating the psychological factor and helping traders trade without the fear of losing their hard earned money, which could eventually improve their performance. 3- Our users are getting creative, moving away from risky speculations and finding different ways to use PropEA, we’ve seen traders faking their cost by +20% and making extra profit in their live account while failing their challenges! 4- We are constantly working on new features on PropEA, plus other products that are focused on democratizing trading.
Good answer. I have a question do you consider no red news trading some minutes before and after an event ? Because on FTMO I get 100:1 leverage without news trading BUT only 30:1 leverage with the swing account where I can trade on news too. I ask this because I have not seen such a feature on your EA in your description on website. Also other prop firms do not allow to trade red or even medium significant news. So is that something you would implement in the near future ? (If you not already have done it ?)
PropEA doesn’t have an internal check for news, but you don’t really need that kind of check. You can just avoid running it around news time because it starts placing trades 10 minutes after you run it. The latest version has an option to close trades on Friday to avoid holding trades over weekend. The next version version will feature the option to split the trade into multiple trades. Most importantly, you don’t have to rely on PropEA to trade for you. You can trade manually or using a different EA in parallel. PropEA would suggest the trade size for the Prop account, and it would take care of hedging and closing the trades.