True Forex Funds has gone bankrupt. Virtual prop firms are not safe anymore.
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- Опубліковано 13 тра 2024
- True Forex Funds just went BANKRUPT, and they're NOT alone! 😱 In this eye-opening video, we expose the dark secret of virtual money prop firms and why their business model is a ticking time bomb.
We'll break down the VICIOUS cycle that leads to their inevitable collapse and reveal the ONE type of prop firm that actually has a sustainable future.
Don't get SCAMMED - watch this video BEFORE you risk your money with ANY prop firm!
Inside you'll learn:
Why the True Forex Funds bankruptcy is just the TIP of the iceberg
The 4-step DOOM LOOP that traps virtual prop firms
How REAL money prop firms are DIFFERENT (and why they're your SAFEST bet)
The #1 prop firm we RECOMMEND if you want to avoid disaster
Plus, we'll share a special offer for our viewers from Lux Trading Firm, a trusted REAL money prop firm.
Don't miss out - your trading future could depend on it! 👇
Become a Funded Career Trader at Lux Trading Firm. Sign up for a free trial in this window: luxtradingfirm.com/#howwillyo...
Elite Package: luxtradingfirm.com/lux-elite-...
Join our discord: / discord
#propfirm #forex #trading #truforexfunds #bankruptcy #scam #lux_trading_firm
Yes, it's really that simple; all you need to do is watch who has a problem with payouts, and they will be next. For US Traders, it's already over, as most trade CFDs, which is a real no-no, and we have moved back to regulated markets in the USA.
My biggest concern with Lux Trader is the 5PIPs stop loss. Some traders use lower lot sizes to manage the risk. Some can even use a 50 to 100pips stops which could be 0.5% risk on the account sometimes even 0.25% of the account.
The problem is that most retail traders are not used to trading with real money accounts with A-Book LPs where not all your SLs are always guaranteed. If you are used to B-Book brokers or prop firms with demo accounts then small SL can be always triggered, but on ultra-high real money A-Book accounts not, and for that reason, we want to be sure that when you trade with our real money that the stops will be triggered and not pass to the next price in the spread, and then you get more significant lose then was planned. So, for this reason, we have this minimum SL size rule.
When Lux says they open live accounts-, is it live money matching the account size bought or is it a portion like 1% - live account can be with $100.00 dollars. Lux please elaborate on what size - thanks
Hi, the live accounts need to be covered with real money for margin and max risk. So we do not need to cover 100% of the account balance, as that will only be needed if the trader can risk the full 100% of the account balance. If you can max risk 6%, then this 6% needs to be covered plus some extra in case the trader risks more or a SL is not filled. Margin requirements also need to be covered.
Lux, do you think you could change your drawdown rules a little. Have the DD trail until you reach the starting balance and it does not trail anymore and have a rule set in place where a trader cannot risk more than 2% per trade so even though the trailing DD stops the trader cannot risk more because they are far from the DD limit.
You would attract more clients this way. I know some profitable traders who want to join but if they are at risk of losing their account because the market is not good as it used to be or because their system is in the recalibration phase, they rather not join. Same for me too. I hope you can take this suggestion into consideration.
@@jays_trading_institute Hi, unlike these virtual money prop firms that look for a large number of traders to payout their winners, we are looking for consitent traders with low-risk management, and they have no problem with this relative dd. Also, in the live stages, the relative dd is set back to the initial balance each time you take a profit share, so there it works like a hybrid model.
Does Lux accept US traders and if so what platforms do you offer? Also do you offer anything smaller than a $50K account size? Thanks!
We do not accept new US traders anymore. We offer our own TLT trading platform with Tradign View charting and order panel and the MT5. The 50k account size is the smallest.
Lux is one of a kind and the best for those who want to make this a long term professional career. Its a a tragedy you had to stop accepting people in the USA.
I have been wondering something I want to ask you about.
Your terms of service state "not a permanent resident or a citizen of the United States of America, generally referred to as a "US Person". I acknowledge that US Persons are not allowed to sign up for the services of Lux Trading Firm"
Does that mean Lux would you be willing to accept US Citizen who moves outside the USA and gets residence permit in another country? Like say for example there are several EU countries offering residency permits for remote workers/digital nomads/self employed/freelancers. And would it be necessary to go a step further in establishing residency in the EU country and open a local bank account to receive payouts from Lux instead of receiving payouts at a US bank?
Thank you.
Hi, yes, we can take US traders who live in other countries as long as we do not offer our services in the USA to US residents. If you can show that you reside in another country, have a bank account, and provide proof of address, then you could sign up with us.
If lux trading firm is real money
Making 10% of 1million a month
Will i be paid out?
Yes, every trader will be paid out from the real markets by our A-Book model liquidity providers.
Lux trader is also a fraud dont believe their crap. With this prop firm you will never get past the evaluation stage .So they can advertise real markets all they want. What happens after the evaluation doesnt matter if they never plan to let you pass.