Three
months ago, the prop firm The Funded Trader (TFT) promised its clients that
final decisions regarding the settlement of payouts, overdue for many months,
would be announced by January 2025.
However,
weeks have passed since then, and traders are only receiving more plans and
promises. Meanwhile, the number of people waiting in line has increased by
almost 400, according to information provided by TFT.
1,272 People Waiting for
Their Money at The Funded Trader
Over the
weekend, TFT published an update regarding the mounting backlog of payouts to
its clients since last year. We learn that since March 2024, 1,272 people have
been waiting for their funds to be paid out. This is an interesting number, as
at the end of November, the same prop firm reported that 900 people were in the
queue.
As we can
see, instead of being resolved, the problem continues to grow, and all TFT
offers are more apologies, new repayment plans, and assurances that they will
happen soon.
This time,
the company asked the client community on
Discord how they would like the overdue payments to be processed, giving them
three different options:
- Option
1: Prioritization
of largest payouts – the current approach, although as the post indicates, it
has still not been implemented - Option
2: Equal payments
to all traders (each client receives fixed monthly payments) – in TFT’s
example, this could be $25 per trader, totaling almost $32,000 per month. They
also note that if “company’s finances improve,” payments could
increase - Option
3: Hybrid approach
– a combination of the first two options, traders waiting for larger payouts
would receive larger monthly refunds
The ongoing
survey shows that votes are fairly evenly distributed. The first and third
options each received 30% of the votes, while the majority (40%) leans towards
option two, which is equal treatment of all clients.
“I see
this as a challenge that I’m determined to overcome,” the company commented. “I’m committed to TFT and the community we’ve built. I’ll be
here until we either reach the top again or fail again.”
Promises, But What’s Next?
In
December, The Funded Trader presented a five-point plan for further actions,
with the first item being to provide principles and a schedule for repaying all
waiting traders by January 2025. As we can see, these may have been just more
assurances, as the firm still hasn’t resolved the issue.
Community Update: Resolution Plans
— The Funded Trader (@thefundedtrader)
We know these unresolved issues have been weighing on our community, and the time has come to take action. Owed accounts, payouts, DXtrade breaches, affiliate commissions, and outstanding coupons — we are addressing them all.
This is our… pic.twitter.com/Ep08UMsJis
However,
TFT cannot be denied the desire to solve this problem. The firm did not operate
for five months in 2024 and returned in August after a long period of
suspension of its activities, which was announced at the end of March.
“I
could point fingers, but at the end of the day, the responsibility falls on
me,” the statement added.
Three
months ago, the prop firm The Funded Trader (TFT) promised its clients that
final decisions regarding the settlement of payouts, overdue for many months,
would be announced by January 2025.
However,
weeks have passed since then, and traders are only receiving more plans and
promises. Meanwhile, the number of people waiting in line has increased by
almost 400, according to information provided by TFT.
1,272 People Waiting for
Their Money at The Funded Trader
Over the
weekend, TFT published an update regarding the mounting backlog of payouts to
its clients since last year. We learn that since March 2024, 1,272 people have
been waiting for their funds to be paid out. This is an interesting number, as
at the end of November, the same prop firm reported that 900 people were in the
queue.
As we can
see, instead of being resolved, the problem continues to grow, and all TFT
offers are more apologies, new repayment plans, and assurances that they will
happen soon.
This time,
the company asked the client community on
Discord how they would like the overdue payments to be processed, giving them
three different options:
- Option
1: Prioritization
of largest payouts – the current approach, although as the post indicates, it
has still not been implemented - Option
2: Equal payments
to all traders (each client receives fixed monthly payments) – in TFT’s
example, this could be $25 per trader, totaling almost $32,000 per month. They
also note that if “company’s finances improve,” payments could
increase - Option
3: Hybrid approach
– a combination of the first two options, traders waiting for larger payouts
would receive larger monthly refunds
The ongoing
survey shows that votes are fairly evenly distributed. The first and third
options each received 30% of the votes, while the majority (40%) leans towards
option two, which is equal treatment of all clients.
“I see
this as a challenge that I’m determined to overcome,” the company commented. “I’m committed to TFT and the community we’ve built. I’ll be
here until we either reach the top again or fail again.”
Promises, But What’s Next?
In
December, The Funded Trader presented a five-point plan for further actions,
with the first item being to provide principles and a schedule for repaying all
waiting traders by January 2025. As we can see, these may have been just more
assurances, as the firm still hasn’t resolved the issue.
— The Funded Trader (@thefundedtrader)
We know these unresolved issues have been weighing on our community, and the time has come to take action. Owed accounts, payouts, DXtrade breaches, affiliate commissions, and outstanding coupons — we are addressing them all.
This is our… pic.twitter.com/Ep08UMsJis
However,
TFT cannot be denied the desire to solve this problem. The firm did not operate
for five months in 2024 and returned in August after a long period of
suspension of its activities, which was announced at the end of March.
“I
could point fingers, but at the end of the day, the responsibility falls on
me,” the statement added.
This post is originally published on FINANCEMAGNATES.
