Choso

Perp Props only

Community & BD @ProprXYZ

Caught $HYPE @ 25$

[Choso @chosoperps]

🚨

[Lou @louisregis]

On cases of live interviews at @ProprXYZ

Some context: some actors try to use prop firms to launder money, get around our restricted countries list with fake KYC, use paid “account passing” services, pay with stolen cards and file chargebacks, or hedge across accounts.

We have an extensive risk management program which raises those flags.

So the question is.. if you suspect a person is using a fake KYC (as an example), do you outright ban the user, or try to go deeper and prompt a live interview?

We have a duty to protect the integrity of the firm. Banning a trader outright on suspicion alone wouldn’t be fair, having no interview process would be reckless, and ignoring KYC fraud would be far worse. It adds some friction for traders, but it’s a necessary step to keep the company compliant. Nobody is less pleased about running interviews than we are. They’re an operational burden and a lot of overhead, but they’re the only real way to properly assess a fraud case.

In terms of stats:

- We’ve invited 50 traders for an interview process, out of which half were confirmed fraud cases
- Interviews impact less than 1% of our user base
- Out of our top 30 traders on the payout leaderboard, only 1 had an interview
- Out of those 50 traders that had an interview process, only half had requested a payout

Our only trading rules are daily drawdown and max drawdown, but we have terms and we don’t condone fraud. We started running these interviews a while ago, and we’ll keep doing them to fight fraud.

For sure, some traders won’t be happy about it, but integrity matters more to me

[Choso @chosoperps]

@mrjoshytv @ProprXYZ 2 Gs up for same task.

Hell yeah!

[Choso @chosoperps]

@tiltboybenny96 @TradersConf ohh i see. GGs thou for making it <3

[Choso @chosoperps]

@taitsgambles weekend pump.

[Choso @chosoperps]

Relatable

[TJR @_TJRTrades]

Down so bad it’s not even funny

[Choso @chosoperps]

@TradeReviewer8 well i got f'ed up real bad

[Choso @chosoperps]

filecoin:native

pls dont blow my shit and pump like a good boy 😡

[Choso @chosoperps]

@RC_FUTURES @capital_jn @bluey_trades must be traumatised by the bloody candles, give him some time and he will confess

[Choso @chosoperps]

https://t.co/FcbWlN5wMF

[Choso @chosoperps]

@CryptoWizardd https://t.co/D8Qbk8jH9z

[Choso @chosoperps]

filecoin:native

pls dont blow my shit and pump like a good boy 😡

[Choso @chosoperps]

@ThetaNomad_ @ProprXYZ wise words broski <3

[Choso @chosoperps]

These guys spreading FUDs needs to do some research before writing paragraphs.

The Interviews @ProprXYZ are not for their trading activity, you still have to take care of your drawdowns only.

Only a matter of time until these perp props will go through this and then we'll talk.

[JadeJMA @JadeJMA1]

Gm . So yesterday I was shocked to find out that @ProprXYZ has started doing some risk interviews , which I know many of us are very worried about, especially since we felt like the perps space was supposed to take away the trauma’s of the cfd space.

But digging into it a bit more , I got to find that this risk interview has nothing to do about the trader’s trading activity, but related to possible fraud. Traders need to understand the seriousness of kyc fraud, creating multiple accounts under different names , emails etc. with prop firms to maximise gains. It’s illegal and goes against the terms and conditions of the prop firm.

The moment @louisregis replied to the post, the trader immediately got to admitting that it was his fault and that he did something he shouldn’t have.

Traders who do wrong and prone to come online first thing to slander firms or to build narratives so that the people on social can be on their side before anything comes out.

Wishing the trader all the best and hope they get this resolved and I wish Propr all the best in dealing with cheaters.

[Choso @chosoperps]

@BlackLevin1979 @Hesamk50 @ProprXYZ VPN!

KYC FRAUD

[Lou @louisregis]

On cases of live interviews at @ProprXYZ

Some context: some actors try to use prop firms to launder money, get around our restricted countries list with fake KYC, use paid “account passing” services, pay with stolen cards and file chargebacks, or hedge across accounts.

We have an extensive risk management program which raises those flags.

So the question is.. if you suspect a person is using a fake KYC (as an example), do you outright ban the user, or try to go deeper and prompt a live interview?

We have a duty to protect the integrity of the firm. Banning a trader outright on suspicion alone wouldn’t be fair, having no interview process would be reckless, and ignoring KYC fraud would be far worse. It adds some friction for traders, but it’s a necessary step to keep the company compliant. Nobody is less pleased about running interviews than we are. They’re an operational burden and a lot of overhead, but they’re the only real way to properly assess a fraud case.

In terms of stats:

- We’ve invited 50 traders for an interview process, out of which half were confirmed fraud cases
- Interviews impact less than 1% of our user base
- Out of our top 30 traders on the payout leaderboard, only 1 had an interview
- Out of those 50 traders that had an interview process, only half had requested a payout

Our only trading rules are daily drawdown and max drawdown, but we have terms and we don’t condone fraud. We started running these interviews a while ago, and we’ll keep doing them to fight fraud.

For sure, some traders won’t be happy about it, but integrity matters more to me

[Lou @louisregis]

@nitroxn_capital @Hesamk50 @ProprXYZ ca. 50 traders went through an interview. Roughly half are confirmed fraud/breach of terms

[Choso @chosoperps]

@louisregis @ProprXYZ W ♥️

[Connor @connorkirsten]

If you’re seeing posts about Propr interviews, this is why