The Propfirm market is very similar to the crypto market. 📈📈📉📉
An unregulated wild west with scammers all around.
People are hoping to get rich for a few dollars thanks to propfirms as well as cryptocurrencies.
But while with crypto I can understand why people buy all sorts of unlisted dodgy memecoins, I can't understand why traders buy accounts with unverified propfirms.
The difference is often only a few dollars, yet these firms are no different in blue chip industries like
@FTMO,
@the5erstrading or
@E8Markets - You still have to pass two stages anyway and then make a profit on the funded.
There are no big differences between the firms, they are all very similar in rules.
So why buy the pretty much the same thing from obscure companies?
Imagine if Bitcoin, Ethereum and StrawberryWithChocolateCoin cost the same and have the same valuation. The only differences are that Bitcoin and Ethereum have years of work behind them, and millions of people are using them, while StrawberryWithChocolateCoin is a new project, run by a shady CEO, and nobody has heard of it yet.
Who would buy StrawberryWithChocolateCoin instead of Bitcoin and Ethereum?
ONLY A FOOL!! 🤡🤡🤡
So explain to me, why buy accounts from obscure prop firms when you can't get anything extra from them compared to proven companies that only cost a few dollars more?
Does anyone have a logical explanation for this?
Please share it in the comments.
I'm curious to hear your ideas.