While The
Funded Trader (TFT) has made many promises to its investors over the past few
months, for most, the only important issue remains recovering their frozen
funds. The prop firm has been grappling with regular payout problems since late
March. However, this week it presented a solution aimed at expediting the
resolution.
TFT to Inform Traders if
They’re “Eligible” for Payout
The prop
firm announced through its official Discord that it has sent emails to users
waiting for funds since March 28, when payouts were suspended, informing them
if their withdrawal qualifies.
Moreover,
TFT is launching a new type of challenge, with part of the profits earmarked
for clearing backlogged payouts.
“All
payouts, revenue, and funds available will be publicly displayed so you can
track the progress in real-time,” commented a Discord user named The
Funded Trader Admin, likely CEO Angelo Ciaramello. “We know the wait has
been too long, but we are committed to honoring every payout.”
Users on X
(formerly Twitter) widely confirmed receiving emails containing similar
information, along with the amount due for payout.
Whether
this update will actually speed up the payout process or is merely a
smokescreen to appease increasingly irritated traders remains unknown.
In an
update from a few weeks ago, the prop firm reported that it had managed to
repay 30% of its outstanding debts to traders and 55% to affiliates.
Additionally, The Funded Trader informed users that it’s addressing issues
related to traders whose accounts were breached in March and those on DXTrade
who were “wrongfully breached” due to server errors.
New Company, New Platform,
and New Clients
In July,
the controversial prop trading firm announced plans to launch a new entity
called The Futures Traders, which would focus on the futures market. However,
as with many other TFT announcements, clients haven’t received any additional
details, and the project’s status remains unknown. The idea was met with
significant outrage from traders who are still struggling to recover their
funds.
However, TFT occasionally manages to deliver. This was the case with the equally hyped
launch of the Match-Trader platform. Although the premiere faced considerable
delays and took nearly three months, prop firm clients have been able to use
the platform since the end of last month.
Last week,
TFT also announced that it had opened its new platform and the existing one, DXtrade,
to users from additional parts of the world, including the United States.
Since the
MetaQuotes crackdown in the prop trading industry in February, many firms
suspended services for US clients but have gradually found ways to offer their
products to them again.
While The
Funded Trader (TFT) has made many promises to its investors over the past few
months, for most, the only important issue remains recovering their frozen
funds. The prop firm has been grappling with regular payout problems since late
March. However, this week it presented a solution aimed at expediting the
resolution.
TFT to Inform Traders if
They’re “Eligible” for Payout
The prop
firm announced through its official Discord that it has sent emails to users
waiting for funds since March 28, when payouts were suspended, informing them
if their withdrawal qualifies.
Moreover,
TFT is launching a new type of challenge, with part of the profits earmarked
for clearing backlogged payouts.
“All
payouts, revenue, and funds available will be publicly displayed so you can
track the progress in real-time,” commented a Discord user named The
Funded Trader Admin, likely CEO Angelo Ciaramello. “We know the wait has
been too long, but we are committed to honoring every payout.”
Users on X
(formerly Twitter) widely confirmed receiving emails containing similar
information, along with the amount due for payout.
Whether
this update will actually speed up the payout process or is merely a
smokescreen to appease increasingly irritated traders remains unknown.
In an
update from a few weeks ago, the prop firm reported that it had managed to
repay 30% of its outstanding debts to traders and 55% to affiliates.
Additionally, The Funded Trader informed users that it’s addressing issues
related to traders whose accounts were breached in March and those on DXTrade
who were “wrongfully breached” due to server errors.
New Company, New Platform,
and New Clients
In July,
the controversial prop trading firm announced plans to launch a new entity
called The Futures Traders, which would focus on the futures market. However,
as with many other TFT announcements, clients haven’t received any additional
details, and the project’s status remains unknown. The idea was met with
significant outrage from traders who are still struggling to recover their
funds.
However, TFT occasionally manages to deliver. This was the case with the equally hyped
launch of the Match-Trader platform. Although the premiere faced considerable
delays and took nearly three months, prop firm clients have been able to use
the platform since the end of last month.
Last week,
TFT also announced that it had opened its new platform and the existing one, DXtrade,
to users from additional parts of the world, including the United States.
Since the
MetaQuotes crackdown in the prop trading industry in February, many firms
suspended services for US clients but have gradually found ways to offer their
products to them again.
This post is originally published on FINANCEMAGNATES.
