☕️ GM Munchers! This is Pip Munch, the trading newsletter that’s climbing faster than gold’s price chart this week. 🚀 

On today’s menu:

• What’s The Deal With Broker-Backed Prop Firms? 🤔

• Buy A Challenge, Get A Free One Double The Size 😏 

• Gold Hits A Historic High 📈

• Michael Saylor Buys More Bitcoin 🤑 

What’s The Deal With Broker-Backed Prop Firms? 🤔 

Broker-backed prop firms have taken the prop trading world by storm recently, popping up faster than Swifties at a Taylor Swift concert.

Traders everywhere thought this could be a game-changer. Blueberry Markets, Oanda Prop Trader—they sounded like the real deal.

“They’ve got a legit brokerage behind them. Surely, this is a safe bet!”

But that optimism didn’t last long. ❌ 

Fast forward a few months, and the excitement has fizzled out faster than Bitcoin’s 2021 bull run. Reports of denied payouts are spreading like wildfire, leaving traders wondering, “What gives?”

So, here’s why broker-backed prop firms aren’t the knight in shining armour many expected. 👇️ 

1/ The Illusion of Security 🛡️

Sure, these firms have established brokerages behind them, but that doesn’t automatically mean they’ll play by the rules. The regulatory status of these brokers might not extend to their prop firm operations, leaving traders just as vulnerable as they would be with newer, unproven firms.

2/ A Different Business Model 🤨

Running a prop firm is a whole different beast from running a brokerage. Just because a company has brokerage experience doesn’t mean they can smoothly operate a prop firm.

2024 has shown us time and time again that size doesn’t matter—big names and deep pockets don’t guarantee success. No firm, regardless of its background, has cracked the "secret code" to make prop trading flawless. Things can (and will) go wrong, no matter how much experience they’ve got.

2/ The Payout Problem 🚨

Denials of payouts have been circulating in the forums. ❌ 

Traders pass their challenges, hit the profit targets, and then... nothing. Crickets.

It seems these broker-backed firms might have the same issues as some of their independent counterparts. And for a lot of traders, no payout = game over.

Bottom line? 👇️ 

Don’t let the “broker-backed” label fool you.

Just because a firm has a brokerage behind it doesn’t mean you should lower your guard.

Focus on firms with a proven track record of fair payouts and transparency—because the last thing you want is to trade hard for months and end up empty-handed.

Buy A Challenge, Get A Free One Double The Size 😏

Lark Funding has been in business for 835 days and has proven to be the most reliable firm in the industry.

Aren’t you tired of trying to grow a small trading account? Or worrying about having your payout denied? ❌ 

Traders that chose Lark Funding as their prop firm have been crushing it lately. ✅ 

Lark offers:

✅ No News Restrictions
✅ Breach Daily DD = Still Receive Payout
✅ No Trailing Drawdown
✅ No Denied Payouts
✅ Raw Spreads
✅ No Minimum Trading Days
✅ TradingView Integration
✅ CTrader
✅ Weekly Payouts

Right now, you can get 10% off any challenge account of your choice. Just use the code DOUBLE10.

PS: Do you want to trade even bigger accounts? With the code DOUBLE10, on your second payout, you’ll receive a free challenge account double the size you purchased. 🎁 

Gold Hits A Historic High 📈 

Gold’s on top of the world, literally. It just hit a new all-time high of $2,570 an ounce. 💰 That’s right, while the rest of the market is taking a nap, Gold is throwing a party.

• Bitcoin’s down 20% 📉

• Nasdaq’s 6% off its highs 📉

• The U.S. Dollar’s down 5% since June 📉

So, why is Gold outshining everything else?

1/ The Fed and Interest Rates 🏦 

The real MVP behind Gold’s surge? The Federal Reserve. 🇺🇲 

With U.S. inflation cooling and expectations growing that the Fed will cut interest rates later this month, investors are flocking to Gold.

When interest rates drop:

• Borrowing becomes cheaper

• The Dollar weakens

• Gold becomes more appealing

In fact, recent Producer Price Index (PPI) data was slightly below expectations, adding more fuel to the fire.

Traders are now betting on a rate cut of up to 50 basis points, which would be the first in several years. Mr.Pip is only banking on a 25 point cut, though.

2/ Why Does This Matter? 🤔 

Gold acts as a hedge against a weakening Dollar. When rates drop, the Dollar loses value, and investors look to Gold as a safe haven. Add in global uncertainties, and it’s clear why Gold is shining brighter than ever.

3/ What’s Next for Gold? 🧐

With the Federal Reserve poised for its first interest rate cut in years, many believe this is just the beginning of a bigger Gold bull run.

As the Dollar continues to slide and uncertainty looms, Gold may keep climbing—giving it the edge over stocks, crypto, and fiat currencies.

So, what’s the move for traders? 🤑 

Gold’s showing no signs of slowing down, but watch those Fed moves carefully. This could either be the peak or just a pit stop on Gold’s journey to even greater heights.

Happy Friday!
Mr.Pip

PS: We’d love it if you could leave us some feedback and comment on what kind of content you’d like to see from us! 👇️ 

☕️ Pre-Market Fuel

1. MicroStrategy buys more Bitcoin. Michael Saylor just doesn’t quit.

2. ABC whistleblower? There are rumours that Kamala received the debate questions beforehand.

3. This firm just closed down yesterday. We had never heard of them at Pip Munch, however.

4. Do you want over $4,000 of free trading courses? Join our free Skool community with almost 5,000 members!

🍪 Munchy Memes

Share Pip Munch

Chances are you have some trading friends. Why don’t you be a pal, share Pip Munch and earn some goodies for it?

You currently have 0 referrals, only 1 away from receiving The Trading Plan That Helped Me Pass 4 $100,000 FTMO Challenges.

Or copy and paste this link to others: https://pipmunch.com/subscribe?ref=PLACEHOLDER