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