In a recent
survey by The Funded Trader (TFT) prop firm, 76% of respondents
preferred faster access to at least a portion of their
funds, which have been blocked for several months. Despite this significant
majority, TFT decided to stick to its original plan, stating that it would “deliver a better experience” to clients.
The Funded Trader Prop
Firm Defies Survey, Maintains Original Account Sizes in Relaunch
The survey,
which involved over 5,300 traders with accounts at The Funded Trader, revealed
that many have been waiting for their payouts since the beginning of the year.
This delay was largely due to the alleged regulatory crackdown on MetaQuotes in
the USA, which caused considerable chaos in the prop trading industry.
🏰 While 76% preferred smaller accounts for quicker access, we believe maintaining the original size will avoid complexity and deliver a better experience. We are committed to getting these accounts to you by the end of this year. (2/5)
— The Funded Trader (@thefundedtrader) October 16, 2024
“We
are committed to getting these accounts to you by the end of this year,”
the company stated on X (formerly Twitter).
Despite
maintaining the original account sizes, TFT is offering traders some
flexibility. Clients can now choose between the Knight Pro Challenge and other
new challenge types, regardless of their original challenge parameters. These
new options come with additional features including anytime payouts, maximum
allocations up to $2.5 million, and balance-based daily drawdown limits.
The
relaunch will see accounts available across multiple platforms, including
“Platform Five” (MetaTrader 5, whose name is often concealed by many
prop firms for regulatory reasons), Match Trader, and DXtrade.
“We
know you’re eager to get started, and we’re working day and night to make it
happen,” the company added.
Chance for Payouts This
Year?
The latest
announcement seems to increase the likelihood of at least partial payouts in
2024. A month ago, an update suggested that clients with accounts below
$100,000, which includes most small retail investors, were unlikely to see
payouts this year.
“If
you’ve been waiting since the March 28th pause, you have been contacted if your
withdrawal is eligible for processing soon,” TFT informed at the time.
⚔️ Big News, TFT Traders! ⚔️If you’ve been waiting since the March 28th pause, you have been contacted if your withdrawal is eligible for processing soon! 🎉We’re also launching a new challenge, with a portion of the profits dedicated to clearing backlogged payouts. 🏰…
— The Funded Trader (@thefundedtrader) September 10, 2024
However,
they emphasized that payouts for smaller accounts would only be processed after
dealing with the largest ones, which was scheduled to take place by the end of
2024.
While it
might seem that the most important factors in the prop trading world are the
lowest prices and highest profit shares, TFT’s example shows that secure and
fast payouts are far more crucial. This is confirmed by a survey conducted by
PipFar, another prop trading firm, where 75% of respondents indicated that fast
payouts and clear trading rules are the most important aspects they look for in
prop firms’ offerings.
Meanwhile,
The Funded Trader announced that its sister company, The Futures Traders, will
introduce Volumetrica Trading as a new trading platform.
🚀 Big news! We’re thrilled to announce our sister company @tft_futures will offer @VolumetricaT as a trading platform for our launch! ⚔️ With our in-house tech & this fast-growing platform, we’re set to deliver an experience that rivals the BEST in the industry. 🔥🏰…
— The Funded Trader (@thefundedtrader) October 16, 2024
According to the firm,
this collaboration aims to improve the trading experience for users.
Volumetrica Trading is known for its professional trading and analytical
platforms that focus on order flow analysis.
This article was written by Damian Chmiel at www.financemagnates.com.
Source link
