Prop firms scam alert | Forex Factory

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Prop firms scam alert

We need to be very alert with prop firms, here we can put the companies that you consider to be a scam company, the biggest problem is that they are not regulated, they use tricks to make you lose.
If you have or consider it to be a trick, report it here so that we do not fall into the trap.
1. Slippgees are very common, you buy at one price but they move it and give you another price, so your goal is very far away
2. They close trades without authorization
3. They tell you that you are a copycat of other people (this case happened to me)
These companies are pure lies.
You fall for the offers, like offering 100% of the profit, that is impossible that is fake, that is working for the broker's commission
Some offer up to one million to start, do you think the prop firms are going to come out of their own pockets?
$1million x 5% loss is $50k
I know of many people who don't get paid their profits for no reason, the rule is invented by the prop firms themselves.
These companies are interested in newbies with $10k accounts losing and buying again.
read the Trustpilot reviews but not the positive ones, read the negative one-star reviews
If you have a scam case, report it here.
Some of this thread wants to continue with better English
Be happy, friendly, humble and winner!!
I communicate based on the documents I have read, ROCKET 21
Search the internet first, be alert, don't be a victim.
Be happy, friendly, humble and winner!!
What happened to Cook?
Following the CFTC's legal action, Cook was sentenced to 25 years in federal prison. The My Forex Funds case stands as a beacon of the importance of caution when investing in forex and thoroughly researching any companies before entrusting funds to invest. It also bears testament to the protective role of regulatory bodies like the CFTC in combatting fraudulent activities and safeguarding client funds.
Be happy, friendly, humble and winner!!
I consider InstantFunding scammers, I can paste communication and everything. I made profit on account and they didn't wanted to pay me out, they were saying I broke rule for 50% of margin. Which i'm sure didn't break and had tons of mail exchanges and they told me they won't give me payout but they will refund or reset my account, after negotiating for 2 weeks and finally when i threatened with lawyer to them they gave me bigger account, which I decided to bust as I was disappointed, to start from zero, I hade 17000 of profits scaled the account 3 times, and left profit was around 14000 at 70% payout around 10000 $ of profit but, they didn't wanted to payout. So beware.
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I consider InstantFunding scammers, I can paste communication and everything. I made profit on account and they didn't wanted to pay me out, they were saying I broke rule for 50% of margin. Which i'm sure didn't break and had tons of mail exchanges and they told me they won't give me payout but they will refund or reset my account, after negotiating for 2 weeks and finally when i threatened with lawyer to them they gave me bigger account, which I decided to bust as I was disappointed, to start from zero, I hade 17000 of profits scaled the account...
This thread is useless, completely dead.

If you want feedback from actual prop firm users with knowledge, post here: http://www.ojas-gujarat-gov-in.com/thread/...8#post14872578
Pride always comes before destruction.... -Proverbs 16:18
I want to report SkillfulTraders.com as a scam. They don't pay out梟o explanations, just endless claims that my payout is "under review."
Also, beware of Bilz SMC on YouTube (he has 17k followers). He's part of the scam. He copies content from ICT, falsely claims to have been a student, and promises to pass trading challenges or use his EA to trade for you. But you'll never see a payout.
Bilz SMC (real name Bilal Hishemi) was even caught fabricating payout certificates using Canva, which he accidentally sent to someone. This scam is well-coordinated between him, his so-called "Trading Plus AI," and SkillfulTraders.com.
Unfortunately, I fell for it, but let this be a warning to others梔o your research before trusting such claims.
Hi,

One of my stories for what it's worth...

I have been trading with Take Profit Trader, I recently passed 5 x 25K accounts then moved to 5 x 25K pro accounts.

On the fifth day of trading these accounts reasonably conservatively using Replikanto to copy trade I went above my buffer zone by a few hunderd dollar and decided to call it a day and walk away.

The next day I go to my platform there seems to be no accounts on the platform, I'm thinking maybe Ninjatrader or a Tradovate issue.

I go to my back office area on the Take Profit Trader website and see that the 5 x 25K pro accounts are not there, this was a Sunday night so sent an email immediately to their customer service, I got a response two days later.

Take Profit Trader claim that I was trading my 5 x 25K accounts against each other similar to hedging, they called it "over lapping".

Here's the thing, I sent my log files from Ninjatrader to Take Profit Trader but I also sent them to Ninjatrader and Tradovate. Both Ninjatrader and Traodvate said that I was clearly copy trading and that there were no instances of trading my accounts against each other!

I'm thinking here we go, I'll get my accounts reintstated....

Take Profit Trader basically told me to FCK off, not interested and that's where it ended!!!

The current so called Prop space reminds me of the Forex bucket shops from the 1990's, most if not all of them are crap, they do not give a shit about you, clearly the rules are there for them (Casino). So with that being said this game needs to played in a smart way if you're going to succeed.

Spread your accounts around a few the best of the bad bunch, make sure your technology is top notch and try use a conservative trading style along with the leverage of many accounts to come in under the radar.
I purchased one prop trading account from www.instantfunding.com
it was instant funding, cost me at $719
After 2 months try I successfully passed my account.
I request 1st withdrawal 26 September, they accept and it shows im doing HFT( high frequency trade)

But when I purchased they said only one rules that- you can't close any trade below 60 seconds. I double check all of my trade there is no trade below 60 seconds closed. I said and mail them I'm mobile MT5 user, but no response comes out

I again request them- please have a look and back my account ( it was instant funding program, not a challenge phase). they are not willing to pay my hard work.

I enclosed all of my trading history/account details.
Account number is- 8008375

Regards
Fuad
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verify if the firm uses a legitimate broker.

What?!

The CFD ones don抰 use a broker at all, surely (unless they themselves are also a broker), and they don憈 even pretend to?

They抮e your counterparty, aren抰 they?
SCAM: SabioTrade (avoid)

I started by purchasing an investment of $20,000. My goal was a 10% profit with a maximum drawdown of 5%. I ended up with a profit of $5,000 and was supposed to receive 80% of the profit. However, these firms make money from investors' losses, and very few manage to reach their goals. Even so, this firm has a system to avoid paying those who manage to exceed that metric. They simply don抰 accept identification and proof of residence documents. I tried 10 types of documents. The excuses are ridiculous. In this way, they literally steal from investors who earn merit.
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Hello all, i wanted to ask an opinion. i used to trade with a prop firm, which im not going to name until im sure it wasnt my fault. I traded with them for nearly 1 year and it was all good and the rules were clear. Some days ago they added an option to one of their account for free. So the initial rules where that the drawdown was calculated at the end of the day. Once u had 5 days profit above 100 dollars u could withdraw ur profit. Then once they introduced the new option which was free the rules changed and it became an intraday trailing drawdown. My propblem is that on their first page this was not mentioned, but you needed to do a deep search to figure this out. The rule was kinda hidden. So, no need to say that i breached the account due to the intraday drawdown and i was really shocked. I know that we need to read everything before purchasing an account but usually these important limits are stated clearly. So i would like to know if i can appeal some how to a rule or something to get my money back or i just need to deal with it. ty
Hello all, i wanted to ask an opinion. i used to trade with a prop firm, which im not going to name until im sure it wasnt my fault. I traded with them for nearly 1 year and it was all good and the rules were clear. Some days ago they added an option to one of their account for free. So the initial rules where that the drawdown was calculated at the end of the day. Once u had 5 days profit above 100 dollars u could withdraw ur profit. Then once they introduced the new option which was free the rules changed and it became an intraday trailing drawdown....
Unfortunately these shonky prop firms are a law unto themselves.
Name them and shame them.
Investment Trading
We have to alert about Prop number one, as scammer company
We have to alert about Prop number one, as scammer company
What do you mean ?
Every prop thinks they are number one.
I might be wrong , I have been wrong before