Done with Fast Track Trading use one of these prop firms
Transcript
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What’s going on guys so if you haven’t heard the news uh FasTrack trading is shutting its doors um honestly if you have accounts I had five accounts left basically you should email them here requesting a refund uh are you going to get a refund probably not you know I already told everybody on the live stream that if I get any money back from FasTrack I’ll put it towards uh free accounts for the duck races and I’ll just give away the uh
The accounts that way um if you don’t know we stream live every day 1:30 to the end of the day we also stream live uh 10:30 till about noon um so come hang out bunch of good people in there uh but yeah so to get back to this my thoughts it’s uh it’s rough it’s uh a lot of people the biggest red flag to me was when he didn’t pay out $10 million and retroactively took away payments that’s where I was
Like Wow uh you can’t go back once you approve somebody’s payment you can’t change rules and then retroactively put them in place you have to say hey it’s from here going forward and that is when I stopped uh uh I pretty much stopped with them I mean you know you can’t do that to people but what was crazy was I almost actually bought more accounts yesterday but I happened you know because I was looking for some direct to funded accounts and
I almost bought like five accounts last night but I had to go out last night and I was like you know what I’ll pick them up tomorrow and uh I just didn’t get a chance to do it and then this happened um I’m glad I didn’t but it is what it is but guys I’ll be honest with you I think there’s going to be a storm of other things coming uh this is not I know a lot of people were anti
FasTrack trading but I think with something this large you’re going to start looking you know you might get more regulation with this this is probably going to spark the interest of people um I don’t know if the you know I don’t know who regulates this but it might start to get regulated under the rules of you know the market or under the rules of gambling I don’t exactly know and you know obviously nothing might happen but I know he declined $10
Million worth of payments plus more people paid like it could be $20 million out there of not getting paid out plus money that was paid in no accounts like this could get seriously large and that draws the eyes of people uh that are looking to regulate and make uh adjustments to things so I think it can go that way um you know you want more prop firms because the more prop firms the more uh competition there is so they got to
Give you better deals and things like that but at the same time they have to be regulated uh there has to be somebody that makes sure that they have a certain amount of money in the bank and things like that what was interesting was a guy on Twitter or company was posting that these that FASTT trackers making payouts I mean I just looked and they made a 500K payout but apparently uh payouts mean nothing and then somebody else brought up something
That like just because they make payouts doesn’t mean they’re paying people I guess you could pay your yourself or something I don’t exactly know how rise works but they were explaining it it’s kind of like a a Bitcoin wallet I guess but uh I don’t know there’s probably a lot of things that were going on behind the scenes you know you never want to see a company fa and then people and Traders lose money over something that they had nothing to
Do with but uh I will say that I think that there’s going to be changes coming withinin the next six months to a year in the prop firm industry also the ease of people popping up these prop firms needs to get tighter where you just can’t start a prop firm out of thin air um there should be a capital requirement in the bank and uh and things like that to make sure that you’re able to to do the payouts um you
Know things like that should there needs to be like rules in place I think uh I think there’s got to be somebody that if they don’t regulate it there just has to be uh somebody that’s in in control that makes it somewhat transparent that uh these firms are liquid enough to handle losses and um kind of what type of requirement on their part like if they have a th000 accounts out there like you need to hold x amount of dollars in
The bank there needs to be some type of that in place where if if they get crushed you know that there’s money in the bank to uh to pay um but yeah I don’t know what’s going to happen going forward I assume I assume I’m not getting any of my money back um and it is what it is but uh I know there’s some people out there that are in it deeper than me and that kind of sucks for you guys
Um I wish you guys the best I hope you guys get refunded um try your best I mean I emailed them and then they asked a couple questions like order number rise rise email and things like that but you want to be ear I told everybody on the stream when this came out you want to do this right now because they’re going to they’re going to answer your emails in order most likely and you want to be one of the first
People in the door you don’t want to wait till tonight or tomorrow to email them you want to be as as early as possible and yeah you want to be early as possible I told everybody on the stream if you missed it if you’re watching this do this right now um email them with your order number and try to get a refund you guys that are are due payouts I assume you’re not going to get paid I think they’re just going
To refund the accounts if that at all my biggest question is where all the money went I have no idea where the money went somebody posted a Twitter and Scott had like bunch of supercars McLaren and Ferraris and watches like I don’t know what happened to it but I imagine it probably wasn’t managed correctly um you know that would be my best guess you know because I assume these plat firms have data on the back end that are like hey if
A 100 people buy this account only five are going to get to pay out so this is what we make this is what we don’t this is what we make this is the payouts like they all have this data so I assume that when they changed the rules even early on like they knew that if this continues like this we’re going to make x amount of dollars um and then when they changed the rules to not pay people that was like
The massive red flag where I was done buying accounts but I assume that they would have stayed in business because a you didn’t pay out $10 million B um you have the data so you would think going forward you know how much money you’re going to make daily you know what the average payout is you know what the average person that buys how many people get to payout like you have all that data so I assumed from there they would have
Stayed in business um but no like if this was a publicly traded company they’ be digging into where all the money has gone um I I don’t know I would like to see where the money went and things like that um and maybe everything is fine and Traders just destroyed FasTrack because the rules were were pretty loose I think at one point you could have 40 accounts um you know but that that’s pretty much pretty much it I mean I would
Say you know go trade with uh you know my funded Futures you know takeprofit Trader in Apex those are the three that I would trade with if you were uh if you’re looking for another another place to go trade um also in the next three weeks Black Friday comes up you’re going to see a lot of deals coming out that’s a good time to grab a lot of accounts but yeah so I mean that’s where I’d go from here I would
I would request refunds if you paid by credit card I would try to charge back maybe I don’t know if that would work if you didn’t get a refund from them um I assume a lot of people are doing that and uh that’s pretty much it but yeah I I wish everybody the best I don’t ever want to see you know this hurts the prop firm Community this isn’t a good thing um you hope you know we trust these these firms
To pay out and uh you know this is definitely not a uh this is definitely not a good thing so I guess let’s just move on from this continue getting payouts from other places and uh we’ll see what happens all right I wish everybody the best and uh I’ll see you on the Stream
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