The Funded Trader: Relaunch or Closure?

Following a sudden cessation of operations nearly three weeks ago, prop trading firm The Funded Trader has resurfaced with a semblance of activity. Their website now showcases a few banners and a message urging patience from users, accompanied by a countdown timer hinting at a potential relaunch within 21 days. However, notably absent is any official communication regarding this development on the company's website, social media platforms, or Discord channel.

This resurgence coincides with troubling reports from users, who have taken to X (formerly Twitter) to share screenshots alleging account closures or warnings issued by The Funded Trader. These reports cast doubt on the firm's intentions and raise concerns among its clientele.

The firm's retreat from the market followed a series of challenges, including the suspension of client pay-outs earlier this month, citing the necessity for an internal audit. Operational hurdles stemming from their transition away from MetaTrader platforms, driven by heightened regulatory scrutiny concerning U.S. clients, further compounded their woes.

Despite the absence of official announcements, The Funded Trader's website assures users of forthcoming updates regarding the relaunch process. CEO Angelo Ciaramello reportedly addressed clients via X, outlining plans for a revamped platform aimed at addressing user concerns, along with commitments to compensate affected traders.

Formerly renowned for offering capital to navigate volatile markets under stringent guidelines, The Funded Trader held a prominent position in the prop trading sector. However, signs of distress emerged in January, with customers reporting trade execution issues and experiencing slippage. This was followed by a barrage of complaints regarding pay-out refusals and operational deficiencies on platforms like Trustpilot, undermining trust in the firm's transparency and reliability.

In response to mounting grievances, PropFirmMatch, a platform that evaluates and endorses prop trading firms, suspended The Funded Trader from its listings. This action followed user complaints of account accessibility issues, alleged margin call breaches, and significant trade execution delays resulting in financial losses.

In an effort to salvage credibility, Ciaramello purportedly pledged a comprehensive overhaul and rebranding on X. However, trader scepticism persists. The sudden cessation of operations without prior notice has left users' investments in limbo, prompting uncertainty regarding fund recovery and profit disbursement.