NexusFi: Find Your Edge


Home Menu

 





Online prop firm The Funded Trader (TFT) going under?


Discussion in Funded Trading Evaluation Firms

Updated
    1. trending_up 678 views
    2. thumb_up 3 thanks given
    3. group 5 followers
    1. forum 4 posts
    2. attach_file 2 attachments




 
Search this Thread
  #1 (permalink)
 jlabtrades 
San Diego, CA
 
Experience: Intermediate
Platform: NinjaTrader / Tradovate
Broker: Tradovate
Trading: Futures / 0dte
Frequency: Many times daily
Duration: Minutes
Posts: 165 since May 2023
Thanks Given: 101
Thanks Received: 130

Looks like this online sim prop firm stopped doing payouts, and then took down their website.
I personally don't use them, but I hope no one got affected. Was anyone here using them?

Their website now says
Quoting 
The Funded Trader has temporarily paused all operations.

We sincerely appreciate your patience and understanding as we are working diligently on the steps to resume our operations and services.

Over the coming week, we will follow up with specifics as we work to resume operations.

Thank you for your continued support and loyalty.

The future of TFT is coming. [20 day countdown to April 17]

https://thefundedtraderprogram.com/

News article: https://www.financemagnates.com/forex/breaking-prop-trading-firm-the-funded-trader-pauses-all-operations/

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
Volumetric charts
The Elite Circle
Historical data for Kospi and Nikkei Index
NinjaTrader
MC PL editor upgrade
MultiCharts
How to plot a custom icon for crossover
NinjaTrader
MC Advanced Simulated Trading.
MultiCharts
 
  #2 (permalink)
twicetrader
rome italy
 
Posts: 3 since Oct 2016
Thanks Given: 0
Thanks Received: 1

Finally Mr. Ponzi got his seat

Reply With Quote
  #3 (permalink)
 jlabtrades 
San Diego, CA
 
Experience: Intermediate
Platform: NinjaTrader / Tradovate
Broker: Tradovate
Trading: Futures / 0dte
Frequency: Many times daily
Duration: Minutes
Posts: 165 since May 2023
Thanks Given: 101
Thanks Received: 130



jlabtrades View Post
Looks like this online sim prop firm stopped doing payouts, and then took down their website.
I personally don't use them, but I hope no one got affected. Was anyone here using them?

Their website now says

https://thefundedtraderprogram.com/

News article: https://www.financemagnates.com/forex/breaking-prop-trading-firm-the-funded-trader-pauses-all-operations/

After reading up on this over the last weeks I didn't realize how big they were, and the history of the owner Angelo Ciaramello. It looks like there's quite the trail of financial issues around him and his past companies.

It does look like they opened back up, and are moving their operations to the Caymans (never a good sign). They release some articles on their         saying they are giving away discount codes, and processing out any outstanding payout request (that's good to hear). But they also say " moving forward, all proceeds will be directed to charitable causes and reinvested into enhancing the user experience and supporting our community." which is an odd thing to say in my opinion - you are a company, that is exactly what you should be doing no need for a special press release - just all seems like a bad company to me

I would steer clear if you are looking for online prop companies, there are more reputable and cheaper options.

Attached Files
Elite Membership required to download: The_Funded_Trader_Update_2.pdf
Elite Membership required to download: TFT_Important_Update_16.pdf
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #4 (permalink)
 jlabtrades 
San Diego, CA
 
Experience: Intermediate
Platform: NinjaTrader / Tradovate
Broker: Tradovate
Trading: Futures / 0dte
Frequency: Many times daily
Duration: Minutes
Posts: 165 since May 2023
Thanks Given: 101
Thanks Received: 130

And another news article for those looking to read more about this saga, again just seems like one of the more shadier prop firms

https://www.financemagnates.com/forex/prop-trading-firm-the-funded-trader-is-online-but-is-it-fully-operational/

Also it looks like another company Skilled Funded Trader, is connected to the main company Easton Consulting Technologies which "operates" simulation prop firms for investors. I'm staying away from anything remotely connected to these companies

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #5 (permalink)
 
Devil Man's Avatar
 Devil Man 
Fort Lauderdale
Legendary / Stochastic Calculus is not your friend
 
Experience: None
Platform: Ninjatrader, Python API
Broker: CQG
Trading: S&P, Crude, Gold
Posts: 879 since Oct 2009
Thanks Given: 3,520
Thanks Received: 1,564

the news is not good:
https://www.financemagnates.com/forex/prop-trading-firm-the-funded-trader-restructuring-business-moving-to-the-cayman-islands/

Reply With Quote
Thanked by:




Last Updated on April 27, 2024


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Sitemap - Downloads - Top
no new posts