Prop Firm The Funded Trader Has Stopped Withdrawals?!

It has been revealed that The Funded Trader, a proprietary trading firm based in Miami, has ceased pay-outs to its clients out of a sudden. This decision comes as part of a broader shift away from MetaTrader trading platforms (MT4 and MT5), following strict enforcement actions by MetaQuotes, the developer of MetaTrader, against brokers and introducers serving US retail clients without proper licensing.

Despite this transition to new platforms, many prop firms, including The Funded Trader, have encountered challenges. Propfirmmatch.com, a service comparing prop trading firms, disclosed earlier that The Funded Trader has temporarily suspended its operations. Citing a significant influx of complaints and reports of pay-out denials on platforms like Trustpilot and social media, the suspension underscores mounting concerns.

In response to these challenges, The Funded Trader has initiated a “self-imposed internal audit” of all pay-outs. The firm underscores its commitment to upholding compliance with its terms of service and gambling policies. Nevertheless, complications stemming from the platform migration have resulted in a backlog of customer inquiries and pay-out requests. The Funded Trader reassures its clients of its proactive efforts to address these issues promptly and with meticulous attention to detail.

Despite its suspension from Propfirmmatch.com, The Funded Trader remains resolute. In a statement, the company expressed confidence in its long-term success, emphasizing the importance of thoughtful decision-making. Additionally, The Funded Trader acknowledged errors during the migration process to DXtrade, resulting in inconvenience and financial losses for traders. The company pledged to rectify these issues and offer further compensation to affected clients.

Recent warnings from Belgium's FSMA, the first major EU regulator to caution against prop trading firms, underscore the broader concerns surrounding this industry. Retail traders are urged to exercise caution, as prop firms may prioritize profit-making over the interests of individual traders. Despite these challenges, The Funded Trader claims to stay fully committed to enhancing the trading experience for its clients while navigating regulatory and operational hurdles.

Will The Funded Trader keep its promises in the long run despite all the chaos in the realm of proprietary trading？ Only time will tell for now.