Trader Wixard

Keeping props honest

[Trader Wixard @TraderWixard]

@yavuzkaaa The obvious ones are (for CFDs):
- Rule about news (in challg and funded). Soft or hard
- Consistency and min days >X%
- Restrictions (eg risk per trade, less than 1 minute trades, etc. Soft or hard)
- Payout in X days. Process in Y days
- Refund and when ?
- Static / trailing DD

[Trader Wixard @TraderWixard]

@yavuzkaaa Despite Trustpilot can be manipulated (both with fake 5 & 1 stars), you can still learn a lot about a company by identifying and reading the legitimate 1 stars (and the company's replies, if any).

Specially when combined with a careful read of the FAQs to spot unusual rules.

[Trader Wixard @TraderWixard]

Didn't know that Kraken also has a prop business

https://t.co/eps6PViSlq

[Trader Wixard @TraderWixard]

@PropJoshD Having to chose Rise or direct crypto payout I prefer the former (bank wire is opening the door for props excuses). I use self custody addresses and then convert in Kraken to €. That's why I think Coinbase is crap. European law is the same for both, but Coinbase complicates it.

[Trader Wixard @TraderWixard]

@AlexQuantTekel
@JamesQuantTekel
@QtFunded this is one of the most illogical rules I've seen in the prop space.

If we miss the payout day, not only we need to restart a new cycle but, even worse, we must contact support to change the payout day adjusted.

[Trader Wixard @TraderWixard]

@TheTradingPit_ just killed their 2 steps 100K challenges (just for new purchases, but anyway)

[Trader Wixard @TraderWixard]

@PropJoshD No, just as I don't see people complaining about the spreads in futures (real futures).

This is something that only happens in CFDs because it's inevitable that we compare spreads, commissions and execution among brokers and props.

[Trader Wixard @TraderWixard]

@salmanmunir96 If horrible spreads don't hurt too much your strategy, you may consider Maven.

[Trader Wixard @TraderWixard]

@PropJoshD @astucefx That's for documenting trades that should’ve been flushed straight away.

[Trader Wixard @TraderWixard]

@PropJoshD Prison Forex Pips could be the name, run by Angelo and Blake.

[Trader Wixard @TraderWixard]

I don't know what happened with @Maventrading, but recently their EURUSD and GBPUSD spreads are horrendous.

This was taken just now, during a quiet period, at 9:20 am, London time, while other props and brokers have much tighter spreads.

@DumbMoneyHunter this should be fixed.

[Trader Wixard @TraderWixard]

@MTradingX If they implement the 1% rule, they have to have this. It's almost mandatory. Otherwise people will lose 1%+1%+1%+1% up to the daily limit.

[Trader Wixard @TraderWixard]

@StockCuppa E8 also has this 1h restriction for the 1% traders.

[Trader Wixard @TraderWixard]

After several months quiet, these guys decided to make a promotion. However, a quick look into Trust Pilot classification and comments shows what's behind walls.

[IC Funded @IC_Funded]

🚨 15% OFF All Trading Challenges

Take your shot at a funded account opportunity with ICFunded.

💡 Use code ICF15
📅 March 16–20
⏳ Limited-time trader window.

#propfirm #fundedtrader #forextrader #tradingchallenge #tradingcommunity

[Trader Wixard @TraderWixard]

@MTradingX @WhaleInsider They are trying whatever they can, either these posts or even arresting people that show reality, to avoid the inevitable colapse.

It was nice while it last. RIP.

[Trader Wixard @TraderWixard]

@PropJoshD No prop should allow someone to spend 50K in challenges. This is clearly a gambling behavior.

Props can't be against gambling and, at the same time, allow this.

I suspect that only people with strong online visibility and influencers are allowed to do that.

[Trader Wixard @TraderWixard]

@PropJoshD The endless videos and posts about the “slip them to hell” in MFF were the perfect filter.

It clearly separated people who can actually think, from those just pretending to have a brain.

[Trader Wixard @TraderWixard]

@PropJoshD Besides, at real prop firms you don’t get the chance to burn a dozen trial accounts. You either perform or you’re escorted to the exit.

[Trader Wixard @TraderWixard]

@PropJoshD @kawkawdla3l0s1 You're providing too many ideias 😀