AUD/JPY is a minor pair in a thin CFD format, lack of liquidity.Trading the one minute time frame in a razor thin CFD instrument is a suicide mission.
"Livesim account: Firm makes money on subscription fees, reset fees and activation fees, they will generally delay or discourage big withdrawals with some antics." If what you say here is true ( which these firms will never admit) then it is misleading and I dare say should illegal ... One day regulators are going to crack down on these dodgy operators just like Israel shut down those dodgy Binary Options platform
These are in the category of True Prop. (you need talent education etc to get in) not this fraudulent test fee models
They don't need to delay or discourage large withdrawals because +95% of the traders who attempt these challenges will never reach this stage, those who do are smart enough to leave after they have withdrawn whatever they can withdraw at 100%. These companies make a shit load of money from traders who keep on trying and are stuck in the hamster wheel, so as long as they pay you it doesn't really matter if they put your trades through to the exchange, copy them or you are trading sim. Now there are a lot of stories out there about all kind of these prop firms and surely, they aren't a smart choice for most, but i still haven't seen any evidence here that they refuse to pay or whatever. It's probably the same as with most FX brokers, they aren't scammers either, they just attract a lot of noobies who can't handle losing and then blame everything and everyone except themselves, the link someone posted some time ago of Apex reviews basically proves that if you read through them, almost all noobies who blame what they signed up for, who's fault is that?
Dev Bru, I am not supporting noobies who knowingly go in to this and then complain.. I am throwing light on the ethics of this model transparency etc, there is a difference is there not? On one hand they pretend that they fund and that their interest are aligned with traders and then make profit from real trades and real talent of funded trader but on the other hand as you said "These companies make a shit load of money from traders who keep on trying and are stuck in the hamster wheel," so we have 4 categories now A) Real prop NO test fees and traders get selected on aptitude and past performance B) Test fee model who genuinely fund and main income is from talented traders performance and not thousands of test fees C) Test fee model with no real trading and pay if at all few with profits form selling test fees or education! If you support model C and don't care where the trading profits come from then lets agree to disagree. it is an ethics issue
I am fairly certain B doesn't exist, i dare to say all companies like Earn2Trade, TopStep, Apex, ... ALL make the majority of their money from failing traders. But anyway, you know what you sign up for, so don't complain about the ethics after you agreed to them in the first place, if you don't like the ethics then don't sign up, easy. If you didn't knew what you signed up for, well too bad, next time make sure you do. I wouldn't care if the money for my withdrawal at Apex came from the 99% of losing traders stuck in the hamster wheel, as long as i get it. Where do you think my profit in the futures market comes from? From someone else who lost it ...
First of all I have not signed up for any such schmuck deal and not complaining The ethics is from overall point of view Where do you think my profit in the futures market comes from? From someone else who lost it ... Yes from loosing traders but they go in and knowingly take market risk ! exchanges dont play this test fee game ... that is different you are comparing perishable apples with rotten bananas any way since you are saying that youe dont care where your winning money comes from that from misery of false and misleading "Funding promises" then you are champion free market thinker ..
Are casinos unethical because when you lose they win? Are insurance companies unethical because when you lose they win? They all have bets against customers and are you ok with them?
to say we fund real account and to not do it is wrong and disrespectful, and downright scam end of story .. you be the champion of scammers.