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PropFirm
The Funded Trader


Doubtful


THE FUNDED TRDER PAYOUT ANNOUNCED

TheTrustedProp
Date: June 7, 2024

TheFundedTrader (TFT) recently announced a significant development regarding trader payouts amidst a challenging period marked by operational disruptions. Following the termination of services by MetaQuotes for proprietary trading firms, TFT faced severe impacts, leading to operational pauses and backlogs. This article explores the context, challenges, and recent announcements by TFT concerning trader payouts.

 

Impact of MetaQuotes Service Termination
MetaQuotes, a major provider of trading platforms, ceased its services for proprietary trading firms, significantly affecting TFT. With over half a million active challenge accounts, TFT found its operations disrupted, leading to considerable challenges in maintaining smooth functionality and processing trader payouts.

 

Operational Pause and Challenges
On April 22, 2024, TFT decided to pause its operations temporarily due to escalating backlogs and increasing issues related to payouts. This pause was a strategic move to manage the growing operational difficulties and ensure a sustainable approach to handling trader accounts and payouts.

 

Recent Announcements and Payout Details
After an extended pause, TFT has resumed operations with several platform changes aimed at enhancing stability and efficiency. Recently, TFT announced that they have disbursed a total of $90,000 to traders. However, this announcement seems to contradict their previous statement, which mentioned that 28% of trader payouts were sent on May 3, 2024.

 

Discrepancies in Statements
The contradiction between the $90,000 payout announcement and the previous statement about the 28% payouts on May 3 has raised concerns among traders. This discrepancy highlights potential communication gaps or misalignments in the payout processing and reporting mechanisms within TFT.

 

Moving Forward
TFT is likely focusing on improving its communication and operational transparency to regain trader trust and ensure accurate reporting of payouts. As TFT continues to navigate the challenges posed by the MetaQuotes service termination, traders will be closely monitoring the firm's actions and updates.

 

Conclusion
The sudden service disruption by MetaQuotes has profoundly impacted TFT, leading to operational pauses and challenges in processing trader payouts. Despite the recent payout announcement, discrepancies in communicated figures need to be addressed to maintain trader confidence. Moving forward, TFT's ability to adapt and enhance its platform will be crucial in managing trader expectations and ensuring sustainable operations.

PropFirm
The Funded Trader


Doubtful


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