I'm explaining the PROP FIRM account challenge system, after that we offer the passing challenge service despite everything, but I'm doing this explanation so that you understand that it's possible to lose even if we do things right!!!
The prop firm have a way to manipulate the robots via an algorithm, even if our robot works perfectly well on a real account it is possible to manipulate with an opening reverse trades, with our indicator which forces the opening of the direction we know immediately when the trade is manipulated or not
A survey based mainly on the figures of FTM0, but they are identical for MFF, and other PROP FIRM, not to mention the Prop Firm white label Eightcap which are pure scammers.
5718 people buy a challenge.
10% pass phase 1 - (572 people)
2.4% pass phase 2 - (137 people)
0.07% receive a payment / make a withdrawal - 4 people
Only 0.03% keep the trading account for more than 3 months.
i.e. 99.03% failure
You should know that prop firms are not brokers and can manipulate demo accounts without impunity, they are not subject to regulation since it is a demo account and people pay to prove that they can succeed in or concept.
People think they are dreaming with a big number at the end of the month because they have received a funded account, and the attraction is to be able to recover the purchase of this challenge with the withdrawals, this is one of the traps of all prop firms.
A prop firm account is a bit like sitting at a casino table and throwing roulette, the 5% drawdown is not easy for beginners and it becomes really difficult for an inexperienced person because he will be in the 10% of those who fail.
Sometimes the market is tough and we need to Drawdown because the market breathes and it's inevitable to make profit unless you are a magician and you know exactly when the market is going to turn around and you can take all the trends without ever having a drawdown.
When we buy a lottery ticket we have very little chance of winning and we already know that we are going to lose our money, it's the same for the prop firm account.
With a broker and a real account it's completely different, you have an 80% chance of succeeding without being punished because of the 5% Drawdown or another breach trap to make you lose money.
Disclaimer: you need understand you can lose more easily than you win, the scale of 100,000 is only an illusion.