I just found out why you said their profit split is 50%. It is for a kind of account called accelerated program. For this account once you reach 10% profit target, your account size increase 2X. I don't recommend this account. What I recommend is called evaluation account, for which you get 12% drawdown and 8% profit target.Once funded you get up to 85% split.
If the company loses money when you make money via "funded SIM" it is a scam. It is in their interest for you to fail. You have zero credibility for promoting such companies.
I don't think you can call a prop firm betting against traders a scam. You go to a casino to gamble, it is in casino's interest for you to lose. But you can't call casino a scam.A scam is something they hide truth from you, and mislead you. Also if you research what MFF offer,that they lower their fee significantly lower than their competitors, make drawdown higher and profit target lower, give free extension and unlimited free retries , and offer 112% fee refund and bonus when you pass challenge; why they do all these unless they really hope traders to pass challenge. I really doubt MFF can profit with all that terms if all they do is to bet against traders. They must have figured out a way to sort out who are winners and who are losers. So their system can bet against losers and follow winners, to benefit not only from their losing traders but also their winning traders. Only they can do this that they can offer so generous terms that beat their competitors by a huge margin. Suppose they have 1000 live accounts traders, out of them MFF decide 20 are consistent winners. They could put one million to follow each trader, for a total of 20M trading capital, they can profit huge on these winning traders. If they can do this, then the more traders pass challenge, the more profit for them.
It is not much different than the bucket shops described in the book "Reminiscences of a Stock Operator". As soon as you start winning they will find ways to cut you loose and potentially not pay you.
You can't base your conclusion on something a hundred years ago. Thousands traders trade their accounts, and if one such thing happen, trader will complain and spread news on internet, which will immediately ruin their business.I can assure you for MFF, at least till now no such thing happened because no trader report and complain on this. If they have a profitable business model, it will be like golden egg hen,making consistent profit for them, and why they want to kill this hen? It is not in their interest.
I passed their challenge and am in second month live account trading. Got first month profit withdrawal with 112% refund fee and bonus. No complain on trading condition. Spread is only 0.01 pip on eurusd and never had a slippage because I am on a sim and whatever price I place will be the fill price. I mean I always use stop order and my stop price is always my fill price, never had exception.
Like I said in my original post, they aren't going to be for everyone. I'd encourage you to look up the definition of the word scam. They aren't going to be for everyone. I've had plenty of success passing, and being paid, by the companies I talk about. So I'm not sure where the scam is. If anyone would like information about these programs from someone whose actually passed, and not take someone whose just bitters advice, please visit my site. You can decide on my credibility yourself. You love to throw around assumptions with no proof. "they are bucket shops and will close down your account". I've been with a few almost a year with zero issues withdrawing profits. Maybe trading isn't for you, it's okay, it isn't for everyone.
Would you be willing to disclose how much you've withdrawn from one single company? I do not doubt they will pay out most customers, but would they still be around if they owed you $300K? The comparison with bucket shops is very accurate. They made money because most of the customers were consistent losers, but the few who made money were usually not welcome. For example Jesse Livermore. They were called bucket shops because the orders didn't actually go to the market. It looked like a trading room and had a ticker tape, but no real trading. As such - any profits were a loss to the bucket shop. This was fine as most people lose in the end. Casinos are similar. If someone is making a lot of money he's no longer welcome. It's the same with most of these companies. It may not be a scam, but it certainly comes very close. They promise you a funded 150K account and you yourself even said they had funded accounts for $113 million when it's really just simulator accounts. There literally is no funding. Topstep and Earn2Trade however seems to offer a real brokerage account, so that takes care of this problem. There was a report of a guy who was funded with a FX firm and actually racked up $200K worth of profits and he was not paid. Last I saw from him he was taking legal action. It's no wonder they couldn't pay him as it was simulator profits.