So why do you need to collect tuition fee (or demo fee) like other bucket shops? Why not just teach traders in-house according to your own trading methods (provided you have one) and go from there? Personally, I can't understand why all these bucket shops want you to pay them to essentially trade a demo account. They know that more than 95%, if not more, will not pass their threshold. While we're on the topic, has there been anyone since the inception of ET who has actually been funded and made a ton of money with these bucket shops?
To setup and a proper operation costs a significant amount of money even an online version. This is why all prop firms either have very strict rules to be able to enter without paying an assessment fee (and you still have to stump up your capital for risk) or you pay a fee for assessment that helps cover some of the costs of running all the assessments.
Yes really deceptive.. That's why we have it front and centre on the website, so no one can see it. We don't want people holding trades overnight for risk. Clearly we must be scamming people by putting risk management rules in place.
Tell me, since there is plenty of competition, why should a trader pick your company over the competition? And i mean based on your rules and pricing, not on what you believe or stand for. I took a quick look at the website and it seems like you have smaller drawdown vs target compared to other companies and are more expensive?
These companies are in a race to the bottom none of them offer anything unique currently Leeloo is the only one with a different offering with their competitions. What a good offering is includes no scaling, no trailing drawdown no min trade time and the rules are the same in the funded account. Most will have a trailing drawdown either at the end of day or live
Unless i have missed something LeeLoo has a trailing draw down, scaling target and minimum 30 trading days before first payout. Edit: no scaling, but that's probably the only positive thing compared to Apex since they have changed their rules. Edit2: Correction, Apex doesn't have scaling either.
yes they im referring to the trading competitions they do the funded evaluation is the same currently I would say Apex is the leader in the trailing drawdown space, uprofit/ticktick trader the leaders in the end of day trailing space.
So you are helping people who do have a profitable trading plan but need trading capital to trade it out irl? But here is the catch-22 which kind of ties in with what @NoahA was saying, how would you know that the trading plan is profitable if the trader hasn't had a chance to prove it irl yet? And if the trader has already had a chance to trade out his/her trading plan and proved that it's profitable then he/she wouldn't need your funding anymore. We are not doubting your sincerity and are certain of your well intention but we are just wondering if you have thought out your risk yet? How would you know this trader is profitable? Do you have a tryout period for the trader? During the tryout period, what's the profit/loss sharing arrangement? What happens after the tryout period? Do you accept or reject the trader? If the trader is accepted, what would be the new profit/loss sharing arrangement, if there is one?