There are so many reasons to avoid prop firm passing services. Actively increasing risks for traders, prop firm passing services have grown massively in recent few years. These services promise successful completion of prop firm evaluations on a trader’s behalf and get funded faster. Of course, prop firm passing services only attract impatient traders looking for shortcuts to pass a funding evaluation. Keep in mind prop firms only hire selective traders with strong abilities to manage risks, manage funded accounts, and increase profits. As an aspiring FX trader yourself, avoid prop firm passing services and follow ethical practices to complete a funding evaluation.
Of course, look for reputed prop firms with fair opportunities to prevent the need of a third-party platform. As a global prop firm, Funding Traders creates equal opportunities to get institutional-level capital. In addition, traders can leverage:
- Achievable Realistic Profit Targets
- No-Time Limit Challenge Accounts
- Weekend/Overnight/Copy Trading Supported
- Fast 7-Day Payouts
- Up To 100% Profit Splits
Here’s a list of reasons to avoid prop firm passing services and only work with reputable forex prop firms.
Violation Of Prop Firm Policies
Violation of prop firm policies is a critical reason to avoid prop firm passing services. All legitimate prop firms strictly forbid services that promise to pass funding evaluations. In fact, traders who hire third-party service providers during evaluation may lose challenge accounts permanently. According to general policies, prop firms may even decline your payouts – after getting a funded account through third-party passing services.
>> Funding Traders strictly prohibits any challenge account management and passing services. Avoid sharing your challenge account credentials with any third-party to reduce the risks of permanent account suspension.
These policies create a fair, transparent, and competitive environment for all traders – protecting prop firm’s capital from abusive practices. Definitely, avoid prop firm passing services and alleviate the risk of violating prop firm policies.
High Upfront Fees With No Refund Policies
High upfront fees with no refund policy is another major risk of prop firm passing services. Many prop firm passing services charge an upfront fees – ranging between $200 to $1,000. For $1 million funded account challenges, you may even need to pay $2,000+ to get started. Since there are no payment invoices, there’s no guarantee of refunds as well. Your service provider may not process refunds after failing to pass the funding challenge.
>> Trade in a transparent environment with Funding Traders’ small $5k prop firm challenges available at $50. With these smaller challenges, you can avoid prop firm passing services and improve your skills to gain confidence over time.
In addition, you may even need to pay a recurring monthly fees – limiting your earnings from your funded account. Indeed, high upfront fees is a critical reason to avoid prop firm passing services.
High-Frequency Trading (HFT)
Avoid prop firm passing services to limit the risks of high-frequency trading (HFT). Typically, these prop firm challenge passing services pass funding evaluations through HFT bots. Keep in mind top-rated prop firms may not support HFT practices – especially during the evaluation stage.
These HFT challenge passing software create an unfair advantage and even increase the risks of market volatility. In addition, many HFT platforms follow spoofing, quote stuffing, wash trading, and other illegal activities to pass your challenge.
>> Funding Traders requires all clients to avoid HFT platforms during evaluation. Since HFT platform practices create unfair environment for other traders, Funding Traders does not allow HFT, Martigenable Systems, and Copy Trading from someone else’s accounts.
Indeed, risks of high-frequency trading (HFT) are top reasons to avoid prop firm passing services.
No Client Discretion
No client discretion is a critical reason to avoid prop firm passing services. Typically, these platforms only share a VPS server without any strict discretion policies. Ultimately, poor discretion increases the risks to your fund security, confidentality, and account. Of course, prop firms always can detect a third-party platform’s involvement to passing your funding evaluation – resulting in serious consequences.
Follow the ethical path to pass a funding evaluation and avoid struggling with poor discretion of a prop firm passing services. Join Funding Trader’s online community to receive guidance from skilled, experienced, and profitable members:
- Join Funding Traders On Reddit
- Join Funding Traders On Discord
- Join Funding Traders On Telegram
- Join Funding Traders Online
Definitely, poor client discretion is a major risk of prop firm passing services for traders.
Increased Chances Of Account Suspension
Finally, avoid prop firm passing services to limit the risks of account suspension. Most prop firm passing services only work on a demo account during the challenge phase. Traders relying on prop firm passing services may not generate any profits in a live trading environment. After securing a funded account, you are likely to violate prop firm’s drawdown limits – resulting in permanent account suspension.
>> Once funded, Funding Traders requires you to maintain consistency and avoid account termination. Follow these practices to trade consistently on your funded account:
- Limit your risk per trade below 2%
- Maintain a consistent position size for each trade
- Avoid passing multiple evaluation to manage multiple accounts with a total amount larger than $400,000
Instead, take your time to acquire strong risk management, build confidence, and discipline for a successful prop firm career path. Definitely, increased chance of account suspension is a critical risk of prop firm passing services for traders.
There are several reasons to avoid prop firm passing services. These services are a direct violation of prop firm’s policies – even leading to permanent account suspensions. Some prop firm passing platforms may even charge a higher upfront fee without any strict refund policies for funding challenges in Forex – resulting in personal financial loss. Since these platforms rely on HFT practices, you may lose your account permanently while trading in live market conditions.
Ready to limit your trading risks by avoiding prop firm passing services? Click here to start trading with a legitimate prop firm.
