The Funded Trader Temporarily Suspends Operations

The Funded Trader halts operations amidst payout complaints, promising a relaunch amid industry-wide regulatory pressures. CEO addresses concerns.

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Featured News: The Funded Trader suspended operations and promised a relaunch. The CEO addressed concerns, but industry trends amplify uncertainty.

The Funded Trader has temporarily suspended all operations amidst a wave of complaints regarding payout denials. The firm, boasting over 80,000 accounts, has promised a relaunch but has yet to provide a concrete timeline.

A notice on the firm’s website stated, “Over the coming week, we will follow up with specifics as we work to resume operations.” The notice also included a 21-day countdown timer. However, uncertainty looms over whether this countdown indicates the relaunch date.

CEO Angelo Ciaramello addressed the situation, acknowledging the need for a relaunch with a “slightly different look and feel.” He expressed determination to regain trust, emphasizing the importance of the community’s support.

The Funded Trader Temporarily Suspends Operations

Despite the promises of a relaunch, concerns arise over the abrupt suspension of all operations. The move comes from mounting customer complaints, primarily on platforms like Trustpilot. Complaints centered around abrupt payout denials and unresponsive customer support, prompting a barrage of criticism on social media.

Ciaramello dismissed these complaints as “propaganda,” attributing the suspension of payouts to a “self-imposed internal audit.” During a live broadcast on YouTube, he presented data suggesting substantial payouts to clients, juxtaposed with a relatively small portion blocked for various reasons, including KYC requirements and prohibited trading strategies.

Nevertheless, the firm continues to face backlash, underscoring the severity of the situation. With the promise of updates in the coming weeks, customers eagerly await clarity on The Funded Trader‘s future.

This shutdown reflects a broader industry trend. MetaQuotes’ stricter enforcement has triggered service suspensions by multiple prop firms, sparking confusion and apprehension within the trading community. Online discussions highlight the need for swift adaptation. While compliance timelines remain uncertain, some speculate a June 30th deadline for brokers to achieve regulatory compliance.

Stay tuned for further developments as this story unfolds.

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