Compare What is the list of Forex brokers used by legitimate prop firms?

[shanmugapradeep]

Hello,

What is the list of Forex brokers used by FTMO, The5%ers, or any other reputable prop firms? I want this list because one of the members of this forum advised me to always use Forex brokers that are used by legitimate prop firms, as there is a very low chance of getting scammed by brokers.

 

[4evermaat]

If you understand how to check the business model of fx cfd brokers:

Is it really Prime of Prime? The Keys to Understanding

[Originally written by Anya Aratovskaya for Advanced Markets Fx Blog; 2015.09.15] Is it really Prime of Prime? Keys to Understanding As a VP of sales, I have noticed that during many of my conversations lately I am helping brokers and fund managers identify the most appropriate trading venue...

www.forexpeacearmy.com

Then you would understand that prop firms are just 1 step removed from this cycle. In other words, the majority of prop firms are not who they claim to be. They are just another leg in selling the dream of fast riches.

Their ridiculous qualification rules also prove this to be true. And if you are assuming that the largest or more popular a broker is, the safer you are (because "everyone else" appears to be ok with it), then go ahead and gamble away.

 

[holycow]

We never know when even a legit broker with good reputation ends up paying traders and turned in to scam so better if we minimise our risks by withdrawing on regular basis with any broker of choice leaving the necessary capital behind.

 

[Komondar]

Hello,

What is the list of Forex brokers used by FTMO, The5%ers, or any other reputable prop firms? I want this list because one of the members of this forum advised me to always use Forex brokers that are used by legitimate prop firms, as there is a very low chance of getting scammed by brokers.

You can try Axi Select, it's a product from the Axi broker. Registration is free, so you can sign up and see how things work.

Funded Trader Program - Forex Funding Trading Account / Axi

Axi Select is a FREE funded trader program that offers up to $1,000,000 in funding. Create a trading account and get everything you need to succeed!

www.axi.com

 

[Komondar]

This can also be valuable information for those considering a proprietary trading firm:

"Beginning of the End": Axi Predicts Collapse of Demo Account Prop Trading Model

Axi Select, the proprietary (prop) trading platform run by the brokerage firm Axi, has revealed that the number of active traders on the platform jumped 40 percent month-over-month. These metrics coincided with the broader proprietary trading industry facing scrutiny following an alleged crackdown…

www.tradingview.com