Greetings !
Lately I have been receiving a lot of questions regarding PROP FIRMS (hereinafter PF).
These are special companies that are willing to invest large deposits to make a profit.
They have special conditions for the trader, these are low drawdowns, high profit levels and a ban on the use of Martingale in any form.
Such PFs usually work with MT4 and have their own quotes.
MT4 does not allow you to get quotes from history specifically for your broker; it is an old terminal.
Moreover, all these PF for MT4 have different quote providers and huge spreads and slippages.
Therefore, many of them cheat and, under any pretext, prohibit the payment of funds.
The main goal of such PFs is to find more clients who are willing to pay for their services for a month, especially for demo accounts.
There is a certain Bug/feature in MT4 and it only works for Demo accounts.
Many people use this and create special software. Such systems work without slippage at all and allow you to get a lot of profit very quickly.
This only works for a perfect market in demo accounts and only for MT4.
That's why we even have a whole list of such PFs for MT4.
Only a few PFs allow you to use MT5 and provide historical quotes, which is great for testing any system.
Most importantly, it allows you to create special settings (almost all our systems have settings for FTMO)
These settings comply with drawdown conditions and are not Martingale, etc.
So when you want to find out how well the PF system works in MT4,
then this is like a singularity point, we will never know what exact quotes this PF has in MT4.
And this is a problem with this MT4 terminal, but on the other hand, for a demo account we can always use the HFT Pass Way
