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which prop firm is free? Replied 11 months ago - I don't know of any free prop firms because offering free services goes against the business model of prop firms, who make money from challenge/evaluation fees as well as copying your trades. However, prop firms like FTMO offer free trial accounts where you experiment with their services.
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what is minimum trading days in prop firm Replied 11 months ago - The minimum trading days is simply the least amount of days within which you can complete the challenge. So, if your prop firms minimum trading days is 4 and you complete the challenge in 3 days, you have breached the rules. You must complete the challenge in 4 days or more. Minimum trading days was put in place by most prop firms to prevent you from completing the challenge in one day. They want to be able to eliminate the chances that you just got lucky on one day and they also want to be able to study how you manage risk on different days.
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what is consistency rule in prop firm? Replied 11 months ago - By checking how consistent your profits/losses are the prop firm aims to see if you have a strategy you are following or if you keep trying new things every day. When you follow a fixed strategy and risk management plan it shows in your profits/losses because they will always be within the same range. But when you do not have a risk management plan in place today you will make 20% profit/loss and tomorrow you will make 1% profit/loss so there will be no consistency and this will lead you to have a low consistency score. usually, a consistency score of above 80% is considered good by prop firms.
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how do I delete my rcg markets account? Replied 11 months ago - You would have to send an email to rcg markets support stating why you want to close your trading account, state the trading account number of the account you want to close and the email address associated with that account. Please also note that if your account has trading history rcg markets will not be able to delete it.
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Is TIO Markets Legit? Replied 11 months ago - TIO Markets is regulated in from Saint Vincent & The Grenadines (SVG) which is a remote island. Now that is not really the issue because many big brokers place traders under SVG regulation. The reason TIO Markets is a high risk broker is because it is relatively unknown to many and does not have business entities regulated in other parts of the world. Let me give you an example: HF Markets is a broker that places some of its traders under its SVG entity, but HF Markets is also regulated by the FCA UK, CMA Kenya & FSCA South Africa. TIO Markets on the other hand is only regulated by SVG ! See what I mean?
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can you recommend low cost prop firms in South Africa? Replied 11 months ago - I am currently taking a challenge with goat funded trader and they have plans for as low as $17 with no time-limits. You can also check out maven trading prop firm too as they have cheap plans. Note that prop firms are unregulated so you trade at your own risk.
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what is goat funded trader leverage? Replied 11 months ago - Goat funded trader is a prop firm with 1:30 leverage during the first challenge phase and up to 1:100 leverage during the second challenge phase. if you pass the challenge and become a funded trader you still get 1:100 leverage on your funded account.
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is goat funded trader a legit prop firm? Replied 11 months ago - Yes goat funded trader is a legit prop firm complete with positive reviews on Trust Pilot. A friend of mine currently trades with them but you should keep in mind that goat funded trader is not regulated so when dealing with prop firms there is a high risk.
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How do I open a demo account on TradingView? Replied 11 months ago - Yes, TradingView also offers a desktop platform and mobile app
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has ftmo 10k challenge fee been reduced? Replied 11 months ago - There's an ongoing promotion on the 10K FTMO Challenge at 89€ instead of 155€, this offer is available on one active 10K FTMO Challenge at a time
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is maven prop firm regulated? Replied 11 months ago - Maven Trading has also said in their risk disclosure statement that the chances of you getting a winning trade with them and withdrawing money is only 2.5% so you should understand that it is not going to be a walk in the park. There is a high chance you will fail the evaluation. read risk disclosure here https://maventrading.com/risk-disclosure/
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how to get maven prop firm coupon code? Replied 11 months ago - get the maven prop firm code from prop firm match website or YouTube channel
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Is forex guru investment real or fake? Replied 11 months ago - Forex Guru Investment is definitely a scam and the FSCA South Africa has issued a public warning about them. https://www.fsca.co.za/News%20Documents/FSCA%20Press%20Release%20-%20Public%20warning%20against%20Forex%20Guru%2029%20September%202021.pdf
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ctrader vs mt4 which is the better choice? Replied 11 months ago - Here's my take: the only aspect where mt4 outshines cTrader is algorithmic trading/Expert Advisor use. Because more brokers offer mt4, they are able to place their servers near mt4 servers thus guaranteeing faster execution speed and lower latency and this translates to better performance of expert advisors. On all other aspects, cTrader outperforms mt4 totally. I think the fair enough comparison should be between cTrader and mt5.
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How to Know Forex News Before Release Replied 11 months ago - You cannot predict what the forex news will be but you can make a guess and hope you are right; it is purely speculation and carries high risk. For example NFP is always released before CPI so if NFP shows more jobs have been created it could imply that inflation may increase as when more people have jobs, spending increases. But this is purely speculation and is you might be wrong. This is what makes trading during important news events very high risk because if you are wrong you could blow your account.
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does smc trading strategy really have an edge in forex? Replied 11 months ago - Hi Segun, in my opinion I think the smc trading strategy brouhaha does not work because I dont think anyone can predict when banks are trading by merely looking at charts. Its all a conspiracy theory and I would rather stick to traditional price action trading than give into smart money concept & ict trading strategy conspiracy theories.
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rcg markets vs space markets which should I choose? Replied 11 months ago - In my opinion, RCG Markets is better for beginners because they have a demo account while Space Markets does not. RCG Markets also has lower spreads than Space Markets.
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ifx vs vault markets micro account, which is better? Replied 11 months ago - iFX Brokers trades against you and there is an advantage in this because when you place a very small order (like the ones on micro accounts) iFX can easily fill these orders thus faster execution time. So I go with iFX brokers
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can someone explain how to hedge a trade in forex? Replied 11 months ago - Great of you to ask Asamoah! To hedge an open trade for one instrument, you need to open another trade for an instrument that is negatively correlated to the open trade, so that losses from the first open trade will be offset by gains from the second/newly opened trade. For example EUR/USD and USD/CHF are negatively correlated so when the price of EUR/USD is falling, that of USD/CHF will be rising. If you opened a EUR/USD long trade and it is in a loss because EUR/USD is falling, you can open a USD/CHF long trade because USD/CHF will be rising. The profit from the USD/CHF trade will offset some of the losses from the EUR/USD trade. The purpose of hedging in forex is to manage risk and lower your net loss.
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Is Webull available in South Africa? Replied 1 year ago - Webull is present here in SA but remember that to buy international shares, you need to get your tax clearance certificate from the South African Revenue Service and this certificate is only valid for one year.
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