Received Payout/Not Happy with Misc. Fees
I bought the Quantec 25K Challenge in November 2023 and passed in a week with a bot. Received live funding on 22nd November. Pros 1. Received the payout within 3 days to my Bank Account Cons 1. Poor Trading Environment[News Trading Not Allowed/Most EA's not allowed/Week End Holding Not Allowed/Very high slippage/50% Profit share rule and a bit confusing rules] 2. For payout, they charge a $50 USD transaction fee which was not mentioned anywhere on their website. Not sure if it is a fixed amount. What happened with my account? Total Profit - $147.5[US 30 - 12 Trades(0.05 Lots each - Went conservative)] Profit Share - $88.5 Received in Bank - $38.5 Transaction Fees - $50[They deduct this amount on payout figure.] Conclusion They do not allow news trading which means, you need to manually close all trades[Follow Forex Factory - Red Folder Only]. Any trades opened/closed before 10 min/after 10 min on news events are considered a breach and your account will be terminated. I am from Melbourne and the US market opens at 1.40 AM and closes at 8 AM the next day. So I cannot place a sell order for an open position because on a news event my order will get executed and the account may get terminated. I would suggest please go with some other prop firms. I will see how my 2nd payout goes and will update