Only 7/10000 of all traders who took challenges reached first profit split. only 3% of all traders who passed challenges reached first profit split. https://myforexfunds.com/myforexfunds-stats-are-back/
Interesting. I don't think the numbers add up either, but people are gullible and want to believe. The Apex founder claims on his website that he pulled $300K of profits from another funding firm. Very hard to believe that he would set up an operation like this if he actually were that profitable. If he could post proof that he actually paid out those sums in some way beyond a screenshot, MAYBE, I would believe it.
Doesn't make much sense that he works with/for another funding firm. Why wouldn't he just incorporate those traders into his own business? Really stinks. And if the numbers are fake, it's just as easy to fake a bank account statement to make it look real. I think he's the same guy who worked for NADEX, another scam outfit.
Yeah. He was outed as a scamster on Big Mike's forum running another operation and banned as a result. I can't believe people are so incredibly gullible, but people still want to believe even after getting thorough warnings and then I'm accused of "hating" get-funded companies. I don't "hate" anyone, but I will do what I can in my power to prevent more people from getting scammed by these clowns.
Remember the book "Bringing Down the House" - story about MIT students who took down a casino in Vegas at the Blackjack table. Of course, they were caught. Would be fun to put together a dozen really good traders, sign up for the largest account at one of these firms and see if they can get paid. Then if they don't get paid, sue the poopoo out of them for big bucks and finally take them all down. Just a thought....
For me, more than anything.......the thing that those not too familiar with funder firms would know is the fact how similar the entire website and system is to LeeLoo. The similarities are uncanny: 1) the website registration/signup form 2) the 90% payout 3) the monthly withdrawal 4) the wait period for withdrawals 5) the founders both being from Montana/Wyoming, wherever.....and being ranchers 6) a lot of other things that make me believe that the 2 are the same company Which is why I repeat that the only 3 companies you should be doing an eval with are: 1) Earn2Trade 2) OneUp 3) TopStep Despite whatever rules you might have a gripe with....these companies are legit, they payout and have a real operation with real staff.
Yes, I believe he mentioned that he was with LeeLoo at one point. That is one strange company. Their advertising features a cowgirl on a ranch. The wait period for payouts says it all - they ain't got the cash until they have enough subscribers - it's just a self preservation strategy.
You seem to assume prop firms only make money by betting against traders, just like casino bet against gamblers. They don't have to. Prop firms can also make money by following good traders. If they can figure out a system that can filter out who are bad traders and who are good. Then following good traders can even make bigger money for them.
Of course. I didn't mean to imply that all traders are bad. If the firm is lucky enough to attract good traders who make serious money, then it's a win-win situation.