Hi guys,
I’m an experienced trader with profitable, verifiable models and funding from multiple proprietary trading firms. Unfortunately, some of these firms operate like scams. I haven’t yet tried the 5ers for my scalping model. Is this prop legitimate? Why would any firm give away 100% of their profits while taking all the risk? My main concerns include being denied payouts, experiencing excessive slippage, and facing a significant widening of spreads at target points.
They are among the most ancient props. They had to compete, though, when they used to only pay 50%. Even on cross FX pairs, their spreads are the narrowest I’ve ever seen, to be honest. I didn’t see any fuckery occurring.
As someone who’s navigated the complex world of trading with various prop firms, I’ve encountered both legitimate opportunities and shady operations. When I first considered joining a new firm, I was wary of offers that seemed too good to be true, like keeping 100% of profits while the firm absorbs all the risk. My approach was to thoroughly research and test any new firm with a small portion of my trading capital to see how they handle payouts, slippage, and spreads. For instance, I’ve learned to scrutinize user feedback and ask for detailed terms and conditions before committing. With the 5ers, it’s crucial to verify their legitimacy by checking reviews from other traders, understanding their payout structure, and ensuring their trading environment aligns with your scalping strategy to avoid issues like excessive slippage and spread widening.