The Funded Trader (TFT) Shutdown: Suspending Operations And Services For All Traders - FundingTraders Blog (2024)

• March 21, 2024

The Funded Trader (TFT) has temporarily shutdown – restricting operations and cutting services for prop traders. The fallout of grey area prop firms is continuing. Firms like TFT have completely revolutionized and democratized the prop funding space – providing large amounts of capital to traders at minimal fees and risk levels. Unfortunately, many firms still deal with mismanagement, poor regulation, and a weak commitment to trader clients.

This shouldn’t be the new normal in the prop trading industry. Partner with a reliable firm that empowers you to trade bigger and get paid faster. Funding Traders is a legitimate forex prop firm offering no time limits, up to 100% profit splits, and no commissions on challenge accounts.

Keep reading to learn about the temporary TFT shutdown and what it means for forex prop traders.

TFT Temporarily Pauses All Operations

At the start of the shutdown, The Funded Trader announced they would be temporarily pausing all operations. When entering the TFT dashboard, traders will no longer see their prop trading dashboard and holdings. Instead, a note appears to all site visitors – alerting them of the operations pause.

TFT states they are diligently working to resume their services and operations for all traders. More details, information, and specifics are expected to be published over the next weeks – including a potential operations resume date. The firm also anticipates that the future of The Funded Trader is coming. Traders will have to deal with a temporary TFT shutdown while operations are currently paused

The Funded Trader Delays Payouts For 30+ Days

The TFT shutdown was said to be inevitable as trader payouts were recently delayed for up to a month. In a community update, The Funded Trader issued a statement that internal audits are being conducted on pending payouts. Due to alleged mapping, migration, and server issues – the firm was worried about paying out funds to incorrect traders.

The queue of traders looking to withdraw their profits is said to be steadily growing. Currently, withdrawals are only being blocked to traders using illegal strategies – or accused of gambling. Others are receiving a two to four week delay during this internal auditing exercise. Absolutely, the TFT shutdown may be largely associated with the firm delaying or refusing trader payouts.

Eightcap Halts Brokerage Service To Prop Trading Clients

The Funded Trader’s recent shutdown may also be a result of Eightcap cutting brokerage services to prop firm clients. Eightcap halted services to proprietary funding firms at the end of February 2024. In addition to TFT, Eightcap also services a wide range of FX prop firms, including:

• Funding Trader Plus
• Blue Guardian
• Smart Prop Trader
• Glow Node
• Lark Funding
• Skilled Funded Traders (SFT)

The popular broker was potentially in jeopardy of losing their MetaTrader 4 & 5 licenses if services were not discontinued. This may be the result of a new initiative from MT4/MT5 platform developer MetaQuotes – aiming to enforce usage control. MetaQuotes wants to ensure the platforms are only used by traders in properly licensed jurisdictions. However, many prop firms are marketing to American traders – where many brokers are not currently licensed by USA regulator bodies. Certainly, the TFT shutdown could be associated with Eightcap restricting worldwide brokerage services.

Firm Suspended From Prop Firm Comparison Sites

Leading up to the shutdown, TFT was also suspended from major prop firm comparison sites. The online network PropFirmMatch.com suspended The Funded Trader after complaints on TrustPilot and social media. Specifically, the firm was accused of regularly missing or denying trader payouts.

While none of the reports were verified, the volume of incidents exceeds the comparison site’s performance standards. Before the suspension is lifted, TFT may have to fully resolve these issues – and reconsider fair funding to impacted traders. Definitely, the TFT shutdown occurred shortly after their suspension from notable prop firm comparison sites.

Similar to the Funded Engineer shutdown, TFT has temporarily shutdown. The Funded Trader was allegedly denying and delaying payouts for as long as one month. In addition, the firm’s broker – Eightcap – halted services to prop trading clients. TFT was also suspended from notable comparison and review sites. Check back here for the latest updates on The Funded Trader shutdown and supension.