It happened again! What is going on with prop firms these days?
Recently we have reported that the prop firm “The Funded Trader” has stopped its operations, and now we regret to inform you that it happened again. A proprietary firm that goes by the name Skilled Funded Traders have also closed their doors.
A few days ago a fairly new prop firm named “Skilled Funded Traders” took down their website.
“We regret to inform you that Skilled Funded Traders has temporarily ceased all operations, including new purchases, effective immediately.” -From skilledfundedtraders.com
Skilled Funded Traders is already the second prop firm partnered with Easton Tech that has ceased operations. Easton Consulting Technologies is a relatively new company that helps its clients launch evaluation firms.
They have 4 firms working with them, well, at least they had 4. As of today Skilled Funded Traders and The Funded Trader have ceased all operations, and Easton tech has 2 remaining evaluation firms partnered with them.
Skilled Funded Traders Origins
Skilled Funded Traders seems to be owned by two traders named Paladin and Riz. The Miami based firm was established by traders, for traders. They have been operating since 2022 with an estimate of over $5,000,000 in payouts to their clients. The details about the ownership of SFT (Skilled Funded Traders) is quite vague, but from what we found STF emphasized their desire to be engaged with their trader community. “It’s all about the community”, they mentioned in a YouTube video.
Skilled Funded Traders Challenges
Skilled Funded Traders offer two kinds of challenges, they have a standard challenge and a skilled challenge which is a unique spin on the challenges offered in many evaluation firms. The standard challenge is similar to what you would find in most two-step evaluation firms (FTMO, Funded Trading Plus, Funded Next ect..) with the only difference being that Skilled Funded Traders have the option to choose between the regular challenge and their swing challenge. The swing challenge offers traders to hold their trades on a weekend and offers maximum leverage of 1:30.
Why Did Skilled Funded Traders Shut Down?
The reason for SFT shutting down is still unclear, and all the information about their closing is quite vague. Prop firms shutting down unexpectedly is not something new, it has been happening from the moment proprietary firms were a thing. The prop firm has acknowledged issues they were facing during their migrations to platforms like cTrader and DXtrade.
Former administrator Riz Iqbal has shared on social media that he has left the company from March 15, Riz has also stated that Skilled Funded Traders have been left in the dark by Easton Tech. Traders should always keep in mind that the firm they are trading with might not run for a long time and choosing the right firm should be done with extreme caution.
What’s In The Future For Skilled Funded Traders Clients?
Many of Skilled Funded Traders clients have gone to social media and especially Trustpilot to post complaints and report payout denials and bad trading conditions. Whether SFT’s clients will receive the payouts they are owed is unclear. If Skilled Funded Traders will start operations again is also unclear.
A New Beginning
OFP Funding, a well-known prop firm that’s dedicated to helping traders get results quickly and easily sends a heartfelt invitation to all the traders who were hurt by SFT. OFP puts their clients first with customer support offered in multiple languages, options for payouts (monthly or on-demand) and a warm and engaged community that’s setting a new standard for all of today’s prop firms. Start a new journey today and join our family.
FAQs
A few days ago a fairly new prop firm named “Skilled Funded Traders” took down their website. Skilled Funded Traders is already the second prop firm partnered with Easton Tech that has ceased operations. Easton Consulting Technologies is a relatively new company that helps its clients launch evaluation firms.
Why did the funded trader shut down? ›
Breaking: Prop Trading Firm the Funded Trader "Pauses All Operations" The prop trading promised a relaunch without any solid timeline. The suspension of operations came after it faced a wave of complaints for payout denials.
Why are prop firms getting shut down? ›
Prop trading firms have been shutting down or suspending their services, particularly to U.S.-based clients, because of a crackdown from MetaQuotes, the company behind the popular MetaTrader trading platforms.
Who owns Skilled funded trader? ›
The company did not disclose the reason for the shutdown or the plans for resuming operations. Skilled Funded Traders and The Funded Trader, both proprietary trading brands owned by Easton Consulting Technologies, almost simultaneously announced the suspension.
Who is the CEO of The funded trader? ›
Angelo Ciaramello is the CEO & Co-founder of The Funded Trader.
What happened to skilled funded traders? ›
Skilled Funded Trader, a prop trading company controlled by Easton Consulting Technologies, “has temporarily ceased all operations, including new purchases, effective immediately.” The operators of the platform are now displaying a service termination message on its website.
Is the funded trader back? ›
The website of The Funded Trader, a prop trading platform operated by Easton Consulting Technologies, is back online after a 21-day blackout.
Will prop firms be banned? ›
The speculation now is that the governing bodies and regulators will put a ban on the whole prop firm industry – which is not going to happen. The prop firm industry has been alive, well and regulated for decades. It's only the online prop firm space that is yet to see regulation.
What happens if you lose money in a prop firm? ›
Proprietary trading firms often provide evaluation accounts where you prove your trading skills. Usually, you pay a one-time fee to enter this “challenge.” If you lose money during this evaluation, you won't owe anything beyond the initial fee.
Why is prop trading illegal? ›
The Volcker Rule is one of the more controversial pieces of legislation to emerge from the financial crisis. Attached to the Dodd-Frank Act, the rule was intended to limit banks' ability to make speculative investments that do not benefit their customers.
Funded trader programs can be a legitimate avenue for traders to access capital and amplify profits. However, like any lucrative opportunity, there are risks.
What is the profit split for skilled funded trader? ›
The Funded Trader offers a max profit split of up to 90/10. Once funded traders achieve profitability, they can request payouts in the form of cryptocurrencies or bank transfers via Deel.
How much do skilled traders make? ›
What is the total pay trajectory for Trader?
| Job Title | Salary |
|---|
| Trader | $245,377 /yr |
| Senior Trader | $315,073 /yr |
| Lead Trader | $188,175 /yr |
Apr 13, 2024
George Soros
This feat cemented his reputation as the "man who broke the Bank of England" and solidified his status as a forex trading legend. Soros' net worth is estimated to be around $8 billion, making him one of the wealthiest individuals in the world.
How do funded traders get paid? ›
Once traders have been granted a funded account, the profits they generate from their trades are divided between themselves and the firm backing their account. The profit-sharing percentage typically falls within the range of 75% to 90%, with the remaining percentage allocated to the firm that funded the account.
Why did my broker close my trade? ›
Your Stop Loss or Take Profit may have been triggered. If you no longer have enough equity in your account to support the trade's margin requirements, the automated stop-out system will start to close out your trades. If you are using an Expert Advisor, it may have sent an order to close your trade.
What happens if you lose money as a funded trader? ›
Any losses incurred in a funded trading account can be recovered through risk management and diversification strategies. However, due to the inherent risk of trading, it is important for traders to understand the risks associated with the market and be mindful of their trading activity.
Why 95% of day traders lose money? ›
The emotional aspect of trading often leads to irrational decisions like panic selling. When the market moves unfavourably, many traders, especially those who are inexperienced, tend to panic and exit their positions hastily. This panic selling often occurs at the worst possible time, leading to significant losses.
Why is Forex trading closed? ›
The forex market is open 24 hours a day during weekdays but closes on weekends. Because this market operates in multiple time zones, it can be accessed at any time except for the weekend break. With time zone changes, this break gets squeezed. The forex market opens on Sunday at 5 p.m. local time in New York City.
