FPFX Technologies, which offers technology to prop trading firms, has filed a lawsuit against The Funded Trader and Easton Consulting for non-payment of due amounts and for engaging with a competitor for technology services, FinanceMagnates.com has learned.
Significant Pending Dues
According to FPFX’s court filing last week, it is demanding over $184,000 in unpaid dues for services provided to The Funded Trader and Easton, which previously cited liquidity issues as the reason for non-payment.
“FPFX demands judgment against [The Funded Trader] and Easton, jointly and severally, for damages, pre-judgment interest, post-judgment interest, and an award of its costs, including reasonable legal fees recoverable pursuant to the Licence Agreement, along with any additional relief that the Court deems just and proper,” the court filing noted.

FPFX further highlighted that its agreement with The Funded Trader and Easton named it as their exclusive technology provider and barred the prop firm operators from starting a competing technology business.
However, the lawsuit alleges that The Funded Trader and Easton engaged with another vendor to receive technology services “identical or similar in scope” to those provided by FPFX, thereby breaching the agreement.
FPFX is now citing a clause in the contract which imposes a liability of $500,000 in the event of a breach of its exclusivity as technology partner.
Early last year, FPFX terminated its technology licensing agreement with the prop firm Funded Engineer, which ceased operations a few months later.
The Funded Trader and Repeated Controversies
Although Easton is named, it is not a prop trading brand. Rather, it operated several prop trading brands, including The Funded Trader. However, the current ownership structure of The Funded Trader remains unclear, as the company moved its operations to the Cayman Islands.

FPFX, as mentioned in the court filing, signed its agreement with The Funded Trader and Easton in February 2024. It was signed by Angelo Ciaramello on behalf of TFT and Carlos Rico-Ospina on behalf of Easton. According to the filing, Ciaramello is a principal at The Funded Trader and also a manager at Easton.
FinanceMagnates.com reached out to Ciaramello, Rico-Ospina, and The Funded Trader, but has not received any response as of press time. This article will be updated if they respond.
Although unrelated to the current lawsuit, Nicholas D’Arcangelo, one of the co-founders and former Chief Marketing Officer at The Funded Trader, took the firm and his three former partners to court last year, alleging they forcibly redistributed his stake in the company.
Read more: The Funded Trader’s Civil War – Co-Founder Sues Partners over Forced Ouster

In addition to the lawsuits, The Funded Trader has often been controversial. After delays in distributing payouts, the company abruptly “paused all operations” in March 2024, promising to relaunch.
Weeks later, it returned online, announcing that it was moving its base from the United States to the Cayman Islands. Since then, it has expanded its services by adding new trading platforms.
Earlier in March, FinanceMagnates.com reported that 1,272 people had been waiting for funds from TFT since March 2024. This number appears to be increasing rather than falling, as in November the company reported 900 people in the queue.
Related: Prop Firm The Funded Trader Paid Traders $386K in March, Could Have Earned 3x More
The prop firm has introduced new plans to address the issue, and some users have received payouts, but the matter remains unresolved. However, Ciaramello claims that the company’s rising payouts and improved revenues are accelerating the settlement of arrears.
FPFX Technologies, which offers technology to prop trading firms, has filed a lawsuit against The Funded Trader and Easton Consulting for non-payment of due amounts and for engaging with a competitor for technology services, FinanceMagnates.com has learned.
Significant Pending Dues
According to FPFX’s court filing last week, it is demanding over $184,000 in unpaid dues for services provided to The Funded Trader and Easton, which previously cited liquidity issues as the reason for non-payment.
“FPFX demands judgment against [The Funded Trader] and Easton, jointly and severally, for damages, pre-judgment interest, post-judgment interest, and an award of its costs, including reasonable legal fees recoverable pursuant to the Licence Agreement, along with any additional relief that the Court deems just and proper,” the court filing noted.

FPFX further highlighted that its agreement with The Funded Trader and Easton named it as their exclusive technology provider and barred the prop firm operators from starting a competing technology business.
However, the lawsuit alleges that The Funded Trader and Easton engaged with another vendor to receive technology services “identical or similar in scope” to those provided by FPFX, thereby breaching the agreement.
FPFX is now citing a clause in the contract which imposes a liability of $500,000 in the event of a breach of its exclusivity as technology partner.
Early last year, FPFX terminated its technology licensing agreement with the prop firm Funded Engineer, which ceased operations a few months later.
The Funded Trader and Repeated Controversies
Although Easton is named, it is not a prop trading brand. Rather, it operated several prop trading brands, including The Funded Trader. However, the current ownership structure of The Funded Trader remains unclear, as the company moved its operations to the Cayman Islands.

FPFX, as mentioned in the court filing, signed its agreement with The Funded Trader and Easton in February 2024. It was signed by Angelo Ciaramello on behalf of TFT and Carlos Rico-Ospina on behalf of Easton. According to the filing, Ciaramello is a principal at The Funded Trader and also a manager at Easton.
FinanceMagnates.com reached out to Ciaramello, Rico-Ospina, and The Funded Trader, but has not received any response as of press time. This article will be updated if they respond.
Although unrelated to the current lawsuit, Nicholas D’Arcangelo, one of the co-founders and former Chief Marketing Officer at The Funded Trader, took the firm and his three former partners to court last year, alleging they forcibly redistributed his stake in the company.
Read more: The Funded Trader’s Civil War – Co-Founder Sues Partners over Forced Ouster

In addition to the lawsuits, The Funded Trader has often been controversial. After delays in distributing payouts, the company abruptly “paused all operations” in March 2024, promising to relaunch.
Weeks later, it returned online, announcing that it was moving its base from the United States to the Cayman Islands. Since then, it has expanded its services by adding new trading platforms.
Earlier in March, FinanceMagnates.com reported that 1,272 people had been waiting for funds from TFT since March 2024. This number appears to be increasing rather than falling, as in November the company reported 900 people in the queue.
Related: Prop Firm The Funded Trader Paid Traders $386K in March, Could Have Earned 3x More
The prop firm has introduced new plans to address the issue, and some users have received payouts, but the matter remains unresolved. However, Ciaramello claims that the company’s rising payouts and improved revenues are accelerating the settlement of arrears.
This post is originally published on FINANCEMAGNATES.