It's not the END! Prop Trading is here to stay.
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- Опубліковано 29 чер 2024
- The exponential growth of prop firms has caught the attention of regulators, likely due to complaints and concerns about potential financial misconduct.
Outside of the US, finding the right prop firm with the right business model and relationships is crucial for success in prop trading.
00:00 Significant Changes on Prop Firm Industry
02:46 MFF Scandal
04:03 Metaquotes Restrictions
05:11 Be cautious of gossip and rumours
06:35 FTMO Updates
08:37 DX Trade
09:31 Futures Prop Trading
11:15 Our prop firm
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-------- About The City Traders
Unlock Your Trading Potential with The City Traders
At The City Traders, we're not just about trading; we're about revolutionizing your journey from passionate trader to successful funded trader.
Why Us? Because we make the complex simple and the ambitious achievable. Whether you're a novice eager to dive in or a seasoned trader looking to scale, our one-step Assessment Phase, flexible trading conditions, and unwavering support set you up for success.
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-------- Risk Disclaimer
Trading the financial markets carries a high level of risk, and may not be suitable for everyone. The information made available here is to provide education only and not investment advice. We recommend that you seek professional advice before carrying out specific transactions and investments.
Futures, CFD, Margined Foreign Exchange trading, Warrants, Options, and Spread Betting carry a high level of risk to your capital. A key risk of leveraged trading is that if a position moves against you, the customer, you can incur additional liabilities far over your initial margin deposit. Only speculate with money you can afford to lose. Futures, CFD, Margined Foreign Exchange trading and Spread/Binary Betting may not be suitable for all customers, therefore ensure you fully understand the risks involved.
Thank you for the update. Really appreciate it🙏
You are welcome, stay tuned for more up to date info.
Thank you!
Welcome!
Thank you the knowledge is very helpful for beginners like me
Happy to help
Thanks for the update sir…..😊
Always welcome
It's time to learn Futures. Forex props for the US is done.
Maybe not, keep watching me .. maybe we have a solution
Beautifully put
Thank you!
Good to hear optimistic opinion. Most people are saying it's the of prop firms
😊 It's true, there's a lot of chatter out there, but we like to focus on the positives. Feel free to join us for some trading camaraderie! 🚀✨thecitytraders.com
Welcome back ,
Good to be back!
I'm a full time trader with my own discord, I'm glad to have stumbles across this video and can put my students minds at rest :)
Great to hear!
Great explanation Andrew, thank you. 🙏
Your welcome!
In the end I believe we will just see a new solidified trading platform and US forex prop firm set in place within the next year. If the US can make money on it then they will find a way to supply the demand.
Thanks for sharing! DxTrade platform is now available for US base traders
Great vid lil bro
Thank you!
Thanks for sharing a video with a level head on the subject. I drifted into clicking on another and another and I will be exploring what you have to offer in detail.
Subscribe to our channel and get notified whenever we release a new videos. You can also join our FREE Trading Community on Discord bit.ly/TCTDiscord
@@thecitytraderscom I have tried and tried. Discord and I don't like each other in browsers. What's the actual discord invite code?
Nice!
Thank you! Cheers!
the problem with furures prop firms is the overnight holdings. its impossible to trade as a swing trader for a futures prop firm. this is a big disadvantage
thanks for sharing that information
Yes. You're forced to daytrade which is a big turn off for me. Also, the challenges are more expensive with monthly fees making the barrier to entry higher.
Yes exactly I don't like day trading and the future's markets is like specifically for day traders. Almost every future's prop firms is tailored made for day traders and I hope metatrader is not going to get banned in the US
Today I received notification from another prop firm that Eightcap is shutting down all prop firm relationships. So how is this effecting your company?
Hey, thanks for chiming in! It's true, the internet can be a maze of information-some accurate, some not so much. As one of the distributor partners of Eightcap, we can vouch for the fact that the news circulating isn't accurate. We're here to provide reliable updates and support. Check us out at thecitytraders.com
Thanks for this video, I was panicking. As a trader who isn't based in the US it just didn't make sense to me having the Metaquotes platformed removed. I'm on a challenge with TFT currently and I'm hoping at the very least they do what FTMO did and offer MT4/5 to traders based outside the US
Hello,bro I also have an account in TFT but today morning when I switched to funded Acc, I can't log in till now bro
Have you facing the same problem just like me?
@@billionarelifestyle6714 We have the same problem fam... I received an email saying we'll receive new credentials after the migration to DX Trade is complete... I guess we're forced to go along with this change for the time being at least, I won't lie I'm not happy
@@billionarelifestyle6714they don’t have meta trader anymore. They sent in the discord that they have to use a new platform called DXtrade
@@billionarelifestyle6714 Not at the moment
What commissions are charged on EU?
Thank you for the update Andrew. This is very optimistic news. I was somewhat disheartened by what was going on recently with the prop firm industry (I am learning the craft, and I thought all my time/energy/commitment was going to be wasted). I was a member of forex signals a few years back, but not anymore. Good to see you as a prop firm owner and a teacher.
Very welcome! if you'd like to join our FREE Trading community on Discord here's the link bit.ly/TCTDiscord
Hi dad , i love you 😘
Hi 👋🏻
Let's be objective; prop trading is a good niche, not for every trader, but for those who have at least basic knowledge of risk management. Generally, the first stage, the challenge, is easily overcome by someone with such calmness. As for regulations, the industry will adjust and adapt. What happens next, time will tell
true, nothing is for all because we all have different style, strategies etc.
Hi andrew im loving your content. I’ve been trading for nealy two years now On a small account, im interested in your challenge that you been advertising, the one step challenge
Hi @Neil167, thank you for your interest. Feel free to visit our website to learn more about our funding program thecitytraders.com or send us an email at support@thecitytraders.com for any inquiries.
Hello!
Can you kindly advise which prop firms will continue using MT4?
Because I use indicators and EA written for MT4.
Thank you)
Hi, We still use MT4!
Hi Andrew, So nice to come across you again. I used to really enjoy watching you of ForexSignalsTV, but stopped watching the channel after you left. You are looking Well. : )
Glad you found Andrew. You can subscribe to our channel to notify whenever we have new video release. You can also join our FREE Trading community on Discord bit.ly/TCTDiscord. We would love you to join us inside.
Hello Sir! What about eightcap for The Ciity Traders then?
yes, we use EightCap.
Sir keeping in mind the current situation with prop firms do you plz suggest me some reputable firms for outside of usa
Hi, The City Traders is indeed a prop firm. We fund traders and provide them with valuable insights through live stream, educational videos and resources. Additionally, we have a supportive community dedicated to assisting traders in achieving their goals. If you're interested in learning more about The City Traders and what we offer, please visit our website at thecitytraders.com.
Hi Andrew, Can you kindly create a video on how to purchase bitcoin must of all how to store it... Cheers
Great suggestion!
Just been on your website. The link to your discord is not working. Im from the UK is MT4 still available to use?
Hi Scott, are you able to make the link to discord work? bit.ly/TCTDiscord Yes, UK client can still use MT4
how does your offer stack up to BaFin requirements in Germany?
Not very familiar with them to be honest!
Prop firms were here before internet.
They will stay.
🚀💪🏻Yes!
this what funded next did to me
Where do you get the money to prop
Through the challenge model. You can join and apply for funding and when you pass the assessment we will fund you. Visit our website at thecitytraders.com for more details.
if someone could please answer this question, I'd really appreciate it. Do ALL forex prop firms rely on CFDs? Because if so, I really don't see how the US traders could see the light of day on this one... Really hoping some sort of regulatory guidelines for prop firms come about that allow US traders to access prop firm trading, have spent multiple months studying the forex market, just began demo trading, and so far have had great consistency in my efforts (so far that is loll) & would be really disappointed to ultimately find out that accessing a prop firm won't be possible. I understand that in the video it was mentioned that the US prop industry is not over, which does give me hope, but I truly don't understand how this industry will survive in the US if it relies on CFDs... any info would be greatly appreciated, I really love trading & was really looking forward to owning a funded account by the end of the year or the beginning of next year.
As per video , you can take a futures prop. Forex pairs are limited , EURUSD is ok for liquidity
My Forex Funds was the best Prop Firm, even with the "slip them to hell".
I am grateful for the opportunity.
I hope MT5 will still be able to use in the future with prop firms.
Thank's for sharing your thoughts
I was all excited about your prop firm until I saw 1:10 leverage. I tried trading with 1:30 leverage and it was taking forever to make 10% on an account
Sometimes it doesn't matter as much as you'd think. Because some brokers contract specs are different especially for CFDs....the multiplier is 10x bigger.
I trade wit 1:30 with FTMO and Im gonna ask them to reduce mine. If you cant make 10% ina decent time, something is going on with your strategy.
Why do you need to make 10%? Was it a challenge account or your own?
Leverage doesnt matter. Position size does.
@@josiahpayne2676 also too ftmo started doing no time limit
Please add more countries to your Prop...I can't purchase for Challenge from Democratic Republic of Congo
Due to regulatory conditions, we are unable to offer services with traders residing in the following countries: Cuba, Iran, North Korea, Myanmar, Russia (or the Crimea, Donetsk or Luhansk regions of Ukraine), Somalia and Syria. The provision of services is not extended to individuals who appear on Sanction lists. Visit our website at thecitytraders.com for more details.
how long have you been a trader?
Andrew has been trading for 35 years, he started his career as a floor trader n London.
It can do forex trading also
Yes
@@thecitytraderscom sir make one video how we can earn money in Forex trading
So what can prop traders do now
There are some prop firm that still offer for funding like The City Traders. You can check our website at thecitytraders.com to learn more what we offer.
Can anyone explain to me why the US doesnt allow CFDs?🤔
I think it's because it competes with the US futures markets.
CFDs are over-the-counter products so when there was the subprime crisis with toxic and derivative products like CDOs and MBS in 2000's which are traded over-the-counter then the competent authorities Have decided to no longer authorize over-the-counter products because it will cause one of the worst crises in 2007 and 2008 since 1929, this is the reason for the ban on CFDs in the USA.
Do you fund traders with real live accounts? Or do you just use virual demo money like the rest?
A combination of both
magic keys
🙌🏻
Sorry sir but eightcap does not have a tight spread
Yes they do! Depends on what you are trading and the time of day
You guys still offer mt4?
What makes this firms different than the ones running from mt4-5?
I'm glad you're interested in our services! We offer MT4/DxTrade for non US and DxTrade for US base.
Here are key differences that set us apart. We have one step assessment, no trailing drawdown, and no maximum time limit. We also focus on developing traders professionally and personally, not just on profits. You can check our website for more details thecitytraders.com
It was my understanding that prop firms made their money via successful traders, but I may have been wrong... It seems they are floating the business with failed tests by potential traders. Now, if that is the case.. I don't see how this industry will stay afloat. Why can't they just be legit about it, and run the business as intended instead of running a shady business which intentionally fails potential traders with hard to pass rules, etc..??? I'm not sure they truly want to payout to anybody... I'm wondering how widespread this type of business is in the prop firm space.
Also, I thought US citizens couldn't use MT 4 and 5, because it was a Russian software and sanctions made it where it couldn't be used.
Prop firms make their money from sold challenges and ever since MFF got their ass kicked most prop firms are now clearly stating on their website that the profits you make when funded are demo. Only the most consistent funded traders are being A booked or directly switched to live accounts. The business model is not the issue as long as it's clearly stated on the website and within the contracts and as long as they give the payouts. The issue is that some prop firms are very shady and these are the ones that will get their asses kicked also
the thing with the prop business model is they rely on people failing and taking challenges over, what happens when traders stop taking challenges in masses? how will they payout then?@@Golby88
I highly suggest you to leave trading bro. Your comments depicts your amaturity
the problem with prop firms is that they rely on people taking and failing challenges. What happens when people stop taking their challenges in masses? How will they payout then?@8
Why leave, happy to discuss your crits, but i have been trading for 35 plus years .@@salmankhalid5852 I know nothing else !
Is your prop firms name city traders imperium ?
It's different :D, our company The City Traders. You can check this link to learn more about company thecitytraders.com.
Any give away account?😉
Watch this space. 👍
Eight cap are terrible
thank's for sharing your experience, we respect your feedback
shitty leverage though..what is even 1:10 ..would have considered if it was at least 1:50
Appreciate you sharing your thoughts. With access to bigger capital, trading with 1:10 should be plenty enough for most traders. Appreciate that you have a different style and perhaps you'll need to find a prop firm that matches your style of trading.
Eight cap is completely leaving the prop firm market though. All prop firms will have to transition away from EightCap very soon.
See the statement of the EightCap CEO, Andrew talked about it in this video.
@Rouano. Where are you getting this info? Social media?
I've heard directly from 6 or 7 prop firms that they're doing this. At this point its old news. @Kingkees414
Blue guardian have just been pulled. All MT4 and 5 blue guardian accounts with eightcap have been removed.
Transferred to CTrader.
Got to admit I was scared when they did the transition. But all is well, took them 48 hours.
Successfully logged into my Ctrader account with no issues.
Eightcap is trash! they slipped me to hell on EURUSD
thank's for sharing your experience, we respect your feedback
Eight Cap is at the bottom of the bin for honesty. Simply garbage.
Thank's for sharing your thoughts.
maybe not