AMA with Tordess – the pioneer in crypto prop-trading/funded trader program & win a chance for a free $10k challenge account on our platform

15 thoughts on “AMA with Tordess – the pioneer in crypto prop-trading/funded trader program & win a chance for a free $10k challenge account on our platform”

1. Tordess has burned 600 moons to host this AMA. Transaction here: https://nova-explorer.arbitrum.io/tx/0xb3f81dfbe6a47d93393117afdb07f9b07eb9480ff1f9b717179931be69b50e08

   Moon distribution announcement is here: https://www.reddit.com/r/CryptoCurrency/comments/16zvjd0/new_moons_are_ready_round_44/

2. My admittedly beginner-level understanding of prop trading is that you (Tordess) effectively loan people money (or in this case, crypto?) to trade. Then, if we make a profit, you get a share of it. Please correct it in wrong!

   But, what happens if we lose? Basically, what kind of fees and risks do we take on by using Tordess? How do those risks compare to a traditional (non-crypto) prop firm?

3. Is your business model sustainable ? How the platform get revenue ?

4. Hi! I’ve read through everything on your website, and I just want to clarify a few things and try to understand your business model and the risks involved for your traders.

   So, as far as I understand, in order to become a qualified trader for one of the 4 amounts ($10k, $25k, $50k, $100k), I would start by paying a fee ($149, $249, $349, or $549, depending on which of the 4 different challenge streams I’m trying) to try the challenges. I then need to pass two challenges trading virtual money to prove myself. For each of these two challenges, I must trade for a minimum of 10 days and a maximum of 30, until I have 10% profits. If I ever take 5% loss in a day, or at any point get to 10% down, I fail and am disqualified, and I would need to pay another fee to try again.

   If I pass both challenges with virtual funds, then you let me trade with actual money, and I keep 85% of the profit (or 90% if I’m trading $100k).

   Now, your website shows that, even for qualified traders who have passed the two trials and are trading real money, they still are not allowed to lose more than 5% in a day, or ever hit -10%.

   So, my question is, what happens if I’m a qualified trader, and I trigger one of these conditions, like losing 5% in one day? I assume you close my positions to cut the losses, which you cover. Do I then lose my right to trade, and need to pay another fee to restart the whole trial process again? Do I just get demoted back into the trial tier, allowing me to reprove myself with virtual trading without having to pay another fee? If that’s the case, then can I get repeatedly demoted until needing to pay the fee again to try to work back up?

   Also, here’s a somewhat related question: If 5% daily loss is a failure threshold for all your trials as well as qualified trading, what if, say, the entire market has a really bad day and goes down like 9%. Nearly all your traders and trial traders would fail due to hitting -5%. Does that mean that big overall red days lead to mass demotions in your program and cause many users to have to pay new fees to get back in?

   Like, say I’ve just paid $549 to trade $100k virtual funds to try to make my way up to 100k real funds. Say the next day a major exchange is exploited so the whole market goes down and I immediately get my virtual money liquidated because I hit -5%. I have now failed. Did I just forfeit my $549 for nothing, just because I had bad timing with overall market movements?

   Thank you!

5. How sustainable is this model and what risk analysis is done in the background? As a creditor of a bankrupt CEX many of them failed for providing loans to other institutions with a collateral backing of less than 30%.

   Since you cover all the losses where does that funding come from?

   I think as an idea, Tordess has great potential. But I’m still weary given everything that has happened in the space so far.

6. ive never hesrd of prop trading or demo trading. why would a user be attracted to this? sincerely.

7. Your model sounds complex/unclear. When I find something too complex to understand, I tend to suspect it’s a scam. How do I know you are not a scam?

8. >We cover all the losses.

   I’m intrigued. How do you sustain that? What is the math that made you guys adopt this even with knowledge of the risks?

9. Considering inherent volatility of the cryptocurrency market, I’m curious about risk management strategies for your traders. How do you advise your traders to handle extreme market conditions, such as sudden crashes or rapid price fluctuations, to minimize potential losses and protect their investments?

   Are there specific guidelines or support mechanisms in place to assist traders during such challenging market events?

10. Do you have a mobile app
    Feel this should be much easier to use than a web
    If yes
    Is it available on all app store

11. I always wanted to try prop firm’s for fiat and crypto forex trading but it always looked so overwhelming.

12. I ve played poker semi-professionally in the past. I am currently learning crypto trading for over a year. Paper trading along the way with 0-30% ROI per month. Will this be enough to get funding?

13. How do you ensure the transparency of your platform? And do you have any upcoming promotional programs for marketing? : Also, when do you predict the crypto market will pick up again? 🙂

14. Is your data secured? Saw stories of big dogs like voyager and binance having people’s info being leaked.

15. Is it available to US citizens?

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