Rise and Shine, Traders! This is TradeDaily, delivering you daily updates inside the trading industry.

Mr. Monke

On today’s Menu:

• Rocket21 website goes down

• FTMO announces new brokerage

• Fundedpeak new Hidden Rules

• Data sharing rumors spread

• GlowNode Updates

😊 FTMO announces new brokerage

Today, FTMO along-side FinanceMagnates, has announced the expansion of FTMO services into the retail brokerage industry.

Headlining the news, Michael Kamerman, former CEO of Skilling is appointed as CEO to lead this new division. During Michaels time at skilling he lead a raise of 10million and launched new products such as affiliate management software, copy trading, etc. Before skilling Michael was a former managing director of 15 years at FXCM. Both Co-founders Oktar, and Marek will continue in their roles while this strategic move aims to enchance FTMO’s service offerings, although the exact timeline and target markets remain unclear.

Additionally, CEO and Co-founder of FundingPips, Khaled, decided to take to twitter and boast about The launch of FundingPips Brokerage off the back of FTMO’s news.

Unclear of how Khaled plans to scale his management team to support FundingPips, Fundingticks, and the newly announced brokerage, we are unaware of any timeline pertaining to the launch.

Rocket21Challenge goes down

Today Rocket21Challenge goes down and decides to troll traders by updating the website to a photo of a crashed rocket.

After the news started to spread, traders seem to be divided into two groups.

Group A took to twitter with claims of operational failure, while group B was guessing as to weather this is a sneaky marketing stunt to gain traction for a relaunch.

Rocket21 is also co-owned by two Influencers:

• FxAlexG (Alex Gonzalez)

• elsensei (Sebastian Rodriguez)

After todays news, both Alex and Sebastian began blaming each other for the downfall of the firm, with stories going back and forward calling each other clowns.

Though no further information on the subject has been released, we urge traders to take caution with any firms ran by influencers, specially those with no financial background.

And as always, when we receive updates we will be sure to inform you!

FundedPeaks new hidden rules

Owner of hamza_xau twitter account, Hamza, recently came out with claims against Fundedpeaks for wrongful payout denials.

The trader states that FundedPeaks has a hidden 50% consistency rule for any accounts flagged by risk management with “gambling behavior”.

The trader stated the following:

• He did not gamble and will show analysis behind all 4 trades

• he was never given a prior warning before the 50% rule was imposed

• every trader received the 2% rule email

with the following statements made, its hard to see how the traders in the wrong, and thankfully Pasquale, co-owner of FundedPeaks helped to resolve the issue.

Thankfully the trader got his payout, but he also stated he spent a week waiting before coming to twitter, and we are unsure if this traders situation would have been escalated if it wernt’t for bad publicity.

Here at PropFirmFactory we want you to make the most informed decision when purchasing challenges and know the possible risks with each and every firm.

Though this traders situation has been resolved we are unsure of any issues that FundedPeaks could potentially have in the future.

❤️ GlowNode Updates

Over the past few days GlowNode, owners of propriotec, and service providers to MyFlashFunding, has pushed new announcements and stirred up controversy over on twitter.

We wanted to give you a breakdown of everything that’s happened:

1.) Reintroducing US customers

Unsure of weather GlowNode needs the liquidity or if this is a strategic move to regain market share, GlowNode welcomes back US traders with open arms.

A few things that we have took note on about US customers over the years:

• they made up for over 30% of FTMO clients before US ban

• roughly 45% of payouts are to US traders

• US customers prefer Futures evaluations

Depending on the sustainability of GlowNodes operations we could see up to 30% growth within the united states, leading to higher revenue and higher payout figures, which results in better marketing material.

2.) Bring back instant funding

Along-side the news to bring back US customers, GlowNode has also brought back instant funding.

Again, we are unsure of weather GlowNode is trying to drum up liquidity for payouts or if Instant funding is back permanently, however we do know this will bring regulatory scrutiny towards GlowNode later down the line.

Why?

For starters, Instant funding is basically like running a brokerage.

For the model to work sustainably, traders need to purchase the total available max-drawdown to start trading, and the Counterparty is providing the leverage and live market execution.

We know GlowNode has had a history with Eightcap but after the industry wide MT5 incident, we believe Glow Node has yet to find a counterparty to their trading activity, coupled with the fact that firms service by their tech (MyFlashFunding) have also had liquidity issue, we believe this is a well orchestrated way to increase revenue and sustain operations for partnered companies.

As always, please feel free to do your own research on the topics discussed, but what do you think?

Is glow node looking to stir liquidity or is this just a well orchestrated attack to gain US market share and increase revenue/payout figures for marketing purposes?

📈 PropFirms are sharing data

Rumors of data sharing between firms are circulating across twitter after TraderBach makes claims that at least 4 firms from UAE and 1 US firm are apart of a data sharing group.

This news is both concerning and scary for traders, as we have seen Traders such as Andrew_nfx get banned by multiple firms at the same time, and as rumors began to circulate we are starting to see the potential root cause for such cases of traders being banned.

With such information circulating inside the industry, CEO of E8Markets, Dylan, took to twitter to clear up any miscommunications:

Dylan makes claims stating:

• False allegations

• E8 prioritizes privacy

• Personal information has never been shared

• Data remains strictly proprietary

With this carefully worded tweet, and this topic being quite serious, we want to believe the claims of personal information being privatized, but this still leaves trade data up for question.

And though this situation may be uncomfortable for traders, we believe most firms are operating with strict KYC/AML policies and do protect customer data such as names, emails, etc.

This does not mean firms are also keeping trade data private.

Why?

Well, when trading with most firms you are signing an agreement to give up that trade data to third-party entities once funded. For example, look at the MFF court case were almost 24M in revenue came from selling data to third party firms to create trade ideas or monetize order flow under commerical agreements for the firm.

In these types of cases we believe its within the rights of the firm to share data, but the lines get blurred when firms start to ban traders such as Andrew_nfx is groups.

Actions such as these bans, leave room for these data groups to be discussed and does not shed-light from the potential concerns brought to E8Markets and other firms by TraderNOK and TraderBach.

📈 Post-market Protein

Enjoyed todays newsletter and want some additional interesting reads?

1./ $80 Million Crypto Exploit: Robin hood hacker steals 80M from pump.fun

2./ Answer to GME and AMC meme-stock rally: How behavioral trends drove the recent rally

3./ Institutional FOMO is real for Crypto: Insights on Institutional onboarding to BTC ETF

🤣 Daily Memes

Submit memes to [email protected] for a chance to win a 100k trading account every week.