We are in the process of integrating our own P5 Broker, which should improve things in this regard and offer traders the best trading conditions possible. We have been listening to our traders and implementing improvements where we can!
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This has been noted.
We want to avoid distruptions to traders as much as possible, but important changes such as this sometimes forces us to do sudden actions. We are trying to inform traders in advance and believe we are doing a better job as of late - as per our latest Announcements. We do apologize for any inconveniences caused - and our latest step to build our own Broker will allow us to avoid the above.
Hope you are having a pleasant experience in other regards!
I hope you guys are aware of the new rules introduced at Ascendx Capital.
What do you guys think of the new rule (High Impact News rule)
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There is a new rule that states funded accounts can not hold a trade below two minutes unless it triggers TP or SL which should be placed with the trade and can not be modified in any way.
if this occurs the account will be reset until the next payout cycle.
This is a ridduculus change and needs to be change.
otherwise i wont be purchasing new account
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I bought the account on this prop firm . I liked the customer support is very active. If you have created any ticket they solve on priority basis. Which helps me alot.
Got my payout fast
I locked in some profit for second one hope it will be faster like the first one
What firm is that lol
Here are several points of concern that suggest a lack of transparency and potential malpractice:
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Payout Authenticity: Out of 2k funded account, firm is able to payout only a small fraction of its traders. Additionally, there is a suspicion that a substantial number of these payouts are used for advertising purposes, and some of the traders featured may not be authentic. Moderators frequently pull four-digit payouts, raising doubts about the legitimacy of these transactions.
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Rule Enforcement: The two-minute rule, along with the 15-second stop loss/take profit modification rule, is purportedly in place to protect the firm from attacks by Singaporean traders. This explanation appears dubious and might be a cover for avoiding payouts. It seems that the implementation of these rules could be more about preventing payouts than about maintaining trading integrity.
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Payout Management:
• Breach Consequences: A single breach of the two-minute or 15-second rule can result in the immediate rejection of the entire payout, not just the specific trade in question. Moreover, it may lead to the resetting of your entire profit account to zero. Whereas other propfirm looks for average trade duration not be under 2 min, instead of every single trade. This alone is not compatible with, they are being attack by singaporean trader, therefore they introduce it to protect the firm. Really!!
• Payout Timing: The advertised 14-day payout period is actually a 13-day period. The firm’s communication can be misleading, causing confusion about the actual deadline. Missing the payout date could result in a delay of approximately 13 to 14 days, as the firm may extend this period based on their interpretation.
• Rule Breaches: On the first breach of any rule, traders are informed that they have violated their account terms. Consequently, this may delay the payout by approximately one month. Furthermore, the 3% gambling rule implies that even minor exposure to a 3% stop loss can result in the loss of your funded account, with no opportunity for a second chance, though their daily drawdown limit is only 4%
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Management Concerns: The management’s demeanor appears unprofessional, with instances of rudeness or unresponsiveness on Discord. For example, I was banned from Discord for using a “
” emoji in response to a comment, which was perceived as disagreeable, and can’t express my views because of 6-hour delay in chat of discord which they does it frequently. -
MT5 Issues: Traders who purchase their accounts In May month experience delays of over two months before being able to trade. Although the firm offers compensation of 0.5% of profits per week, this amount is relatively insignificant compared to the account size. Despite initially promising a maximum of eight weeks to access accounts, delays have extended beyond ten weeks. The management’s response has been unresponsive, and a more effective solution would have been to transfer users to a functional platform instead of leaving them on an inactive one for months.
I strongly advise future customers to thoroughly review and consider their decision before engaging with this prop firm.
Any one else feel the 2min rule needs a lil work? Taking all the profits from someone if they make a small error like accidentally closing a trade or modifying a tp within this timeframe is a bit excessive. Rather remove profits made from the specific trade that violated the rule and leave the traders other profits alone.