Joined October 2014
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Like I've told trading friends, vest and others are just forex all over again.
Great write up here with more information.
3 YEARS AGO, I EXPOSED THE FOREX FIRMS FOR SCAMMING $310 MILLION
After a grueling 2-week investigation, I found these perp prop firms, @MyFundedPerps & @VestExchange, running the same scam.
Deploying the exact same attack on their traders 👇
1️⃣ THE RIGGING OF THE GAME
‣ Execution Delays: Artificially lagging your execution speeds to ruin your entries.
‣ Induced Slippage: Forcing negative slippage so you buy higher and sell lower.
‣ Software Manipulation: Real time platform parameter manipulation to target successful accounts
‣ Pure B-Book Loop: Fading their own users. You go long; they take the short.
‣ Spread Widening: Artificially ballooning the spread to guarantee losses on setups.
‣ Hidden Commission Hikes: Aggressively changing commission rates per lot without warning to eat your margins.
‣ Misalighed price quotes: The platform shows BTC at $79,100, but it's actually at $79,190, and you enter at unfavorable price.
2️⃣ HOW I EXPOSED FOREX 3 YEARS AGO
In late 2023 I exposed FX on my YouTube Channel Verified Trader Funding (VTF). It sparked an existential FX crisis.
I pulled back the curtain. Letting the cat out of the bag: breaking down active court filings unknown to the public. It proves they were scamming. It turned out all Forex prop firms were using fake B-Book demo networks instead of real market liquidity, along with using every shady trick in the book to bleed traders dry. Just like these perps' platforms
The exposure triggered a domino effect. Capital fled unregulated offshore Forex CFDs for transparent, regulated on-exchange futures.
But the scammers didn't disappear—they just moved to crypto.
For example, prop firm founder and CEO @MattLeech has a long track record of FX scamming.
He closed two Forex prop firms years ago, walking away with trader profits. After I exposed the industry, he pivoted from My Funded FX to @MyFundedFutures and now @MyFundedPerps, using what I believe to be the same methods to replicate his original scam.
But the reason these perps have gotten popular despite their poor reviews on @Trustpilot and ranting on @X is a marketing ploy, so it's imperative to expose how predatory prop firms gained popularity.
2️⃣ THE SMOKE & MIRRORS MARKETING 🎭
The "Infinity Account" Stone: Gifting influencers unlimited, non-payout marketing accounts. @lanto_trades was just exposed for blowing up 800 accounts while faking payouts.
The Influencer Deal: Offering creators 40% commissions, 10 free real evaluations, and burner accounts just to pump their platform.
Bought Rankings: Paying review sites like @PropFirmMatch $50k to $100k for "partnerships" to falsify rankings and hide the truth.
Paid Live Streamers: Handing real traders $3k to $20k plus free accounts to stream their platform and trick their audience into trusting it.
4️⃣ THE BAIT-AND-SWITCH
The predatory model was popularized by @TradingLucid, which took the market by storm through influencers and bought rankings.
With a 75% influencer adoption rate, the lie of Lucid proliferated until a 99% coverage rate. Paying all YouTube traders and getting them on the payroll
It falls on ranking sites, traders, and affiliates, but those who got paid to lie to their following for profit are most at fault. (ILLEGAL A.F. "FYI")
They effectively weaponized misinformation, paying review sites and influencers to validate a system built on:
‣ Strict payout caps
‣ Profits held hostage during "live" migration
‣ Never-ending daily loss limits
CLOSING
I ruined their playbooks once, and I will do it again. But I can't protect retail alone. The scammers rely on your silence to fund their luxury lifestyles with your blown accounts. If you trade, or know someone who does, hit retweet. Force this onto every timeline. Let's make them unmarketable. 👇
ALT Three years ago (in late 2023), the retail Forex proprietary trading industry faced an existential crisis when regulatory crackdowns and deep-dive industry trackers, such as Verified Trader Funding (VTF), exposed that most major forex prop firms were running completely simulated demo networks rather than providing real market liquidity. The exposure pulled back the curtain on how these firms actually operated behind the scenes, triggering a domino effect that altered retail trading. 1. The Core Exposure: The Simulated Loop (B-Book) Before the 2023 collapse, firms marketed themselves as investment entities looking to fund talent with actual corporate capital. The VTF exposures and subsequent court filings unmasked a different reality: YouTube . FxScouts +1
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fyi @nuttybartrading
download.flowbots.ninja/repl…
read: Rithmic phantom positions
maybe this finally fixes those phantom orders
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If @Walmart @walmarthelp was smart with these @Pokemon draws, they would give wmt+ members better odds to get their order(s) filled.
Instantly sell a ton of subscriptions to card degens. 😂
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#tradewhatyousee
Lot of traders complaining lately about the current 'price action'.
IDK, guess I've been at this too long and see too many markets to care or have an opinion.
Simple solution: just trade what you see.
#tradewhatyousee
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Good luck getting anything decent from the @Verizon @VerizonSupport new 'rewards' program.
Turns out shine is actually very dull.
🙄
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Sim/prop trading idea if you're struggling on the NQ or metals -- pull up a YM chart.
It's slower, a bit easier to catch your breath. I recently moved more trading to the YM, esp for props, b/c the only thing that matters in the end is making $ consistently.
#tradewhatyousee
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WALLER: SOME CRYPTO EUPHORIA THAT CAME IN WITH TRUMP IS FADING
... you don't say? 🙃
$BTC
$ETH
@TheTradeXchange
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And another one bites the dust @dotSWOOSH
blog.swoosh.nike/changes-to-…
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"Wicks always getting filled on the NQ"
@ForexIke sharing some good info today.
youtube.com/live/NGB-s2hWbmk…
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🚨TRUMP: IF SUPREME COURT RULES AGAINST TARIFFS, WE'RE SCREWED
President Trump warned that a Supreme Court ruling against his tariffs would force the US to refund hundreds of billions of dollars and could unwind trillions in related investments, calling the outcome “a complete mess.” He said the financial fallout would be nearly impossible to manage, as markets remain uncertain about the court’s decision.
kalshi.com/markets/kxdjtvost…
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#NewProfilePic
#NewYear2026
With the help of @GeminiApp and @grok.
It was interesting to use Gemini, Grok and @ChatGPTapp. Each had their own unique strengths and weaknesses in creating a pfp and banner for @X
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I just recently came across Ike but I like his vibe.
Risk to reward is just one part of the equation!
If this kind of trading is wrong, I don't wanna be right!
Here are the stats for the past two weeks in my live account with @NinjaTrader
They tell me I just enter at Random?.. True, I use Random Support/Resistance mixed with Random Negative RR and I keep getting this Random result...
Help me @I_Am_The_ICT , I need to know what a unicorn's iFVG looks like before a silver bullet gets me in the kill zone!!
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