Prop Trading Firm The Funded Trader ‘Restructuring’ Business, Moving to the Cayman Islands
Apr 26, 2024
Friday, 26/04/2024 | 08:14 GMTIt ensured the distribution of all pending payouts. A screenshot of The Funded Trader websiteThe Funded Trader, a prop trading firm that halted payouts and temporarily suspended services for three weeks, came back online last week and is now in the process of moving its base from the United States to the Cayman Islands. “The Funded Trader LLC, headquartered in the USA, is currently in the process of transitioning its operations to an entity located in the Cayman Islands. This transition will result in a change in the ownership structure and the operational location of the company.”👑 OFFICIAL ANNOUNCEMENT 👑Please review this announcement in it's entirety, the topics covered are Transition and Vision, Internal Improvements, Revamped Customer Support, Product Changes, Actions for Active Accounts, Commitment to the FuturePlease be aware that all emails… pic.twitter.com/NXcyATYQPgSame or New Owners? However, the company did not clarify whether its ownership remains the same or whether Easton Consulting Technologies had sold the business. Interestingly, Angelo Ciaramello, who controls Easton and The Funded Trader as the CEO, removed the mentions of The Funded Trader from his X (formerly Twitter) bio. On LinkedIn, his profile shows that he was the CEO of The Funded Trader from April 2021 until March 2024. However, there are no official announcements of his departure from the platform. Ciaramello, who otherwise was very active on social media, did not post about the relaunch of The Funded Trader. Finance Magnates reached out to Ciaramello for clarification but has not received any response as of press time. @thefundedtrader is now back online Right now coupons, charity are being given? Honestly makes no sense - alongside with this accounts been terminated, breached and no payouts hit. ‘Restructuring to Share the Profits to Charity’Interestingly, The Funded Trader is “taking steps” to restructure its business to share profits with charitable causes only. “Furthermore, we are taking steps to determine how we can restructure the business so that profit is reserved for charitable causes only,” the announcement noted. Before the temporary shutdown, The Funded Trader faced dozens of allegations of payout denials . While Ciaramello dismissed these allegations as “propaganda,” the platform later acknowledged suspending payouts for a “self-imposed internal audit,” only to suspend services shortly after . Coordinated propaganda attack against @thefundedtrader ? Sounds about right. New Judge Judy episode dropping soon 🧑⚖️In the latest announcement, the platform ensured that “accounts with pending payouts will receive their payments… according to a defined schedule.”However, there is a setback for the active account holders as all of them, including the ones with challenge and funded accounts, will need to restart from the challenges. “Accounts without pending payouts will receive a 100% off coupon for a new Phase 1 account according to the same parameters as the Challenge accounts,” the announcement noted. “All users will receive coupons to gain access to an account for the relaunch. There will be no migrations for old accounts.”The Funded Trader, a prop trading firm that halted payouts and temporarily suspended services for three weeks, came back online last week and is now in the process of moving its base from the United States to the Cayman Islands. “The Funded Trader LLC, headquartered in the USA, is currently in the process of transitioning its operations to an entity located in the Cayman Islands. This transition will result in a change in the ownership structure and the operational location of the company.”👑 OFFICIAL ANNOUNCEMENT 👑Please review this announcement in it's entirety, the topics covered are Transition and Vision, Internal Improvements, Revamped Customer Support, Product Changes, Actions for Active Accounts, Commitment to the FuturePlease be aware that all emails… pic.twitter.com/NXcyATYQPgSame or New Owners? However, the company did not clarify whether its ownership remains the same or whether Easton Consulting Technologies had sold the business. Interestingly, Angelo Ciaramello, who controls Easton and The Funded Trader as the CEO, removed the mentions of The Funded Trader from his X (formerly Twitter) bio. On LinkedIn, his profile shows that he was the CEO of The Funded Trader from April 2021 until March 2024. However, there are no official announcements of his departure from the platform. Ciaramello, who otherwise was very active on social media, did not post about the relaunch of The Funded Trader. Finance Magnates reached out to Ciaramello for clarification but has not received any response as of press time. @thefundedtrader is now back online Right now coupons, charity are being given? Honestly makes no sense - alongside with this accounts been terminated, breached and no payouts hit. ‘Restructuring to Share the Profits to Charity’Interestingly, The Funded Trader is “taking steps” to restructure its business to share profits with charitable causes only. “Furthermore, we are taking steps to determine how we can restructure the business so that profit is reserved for charitable causes only,” the announcement noted. Before the temporary shutdown, The Funded Trader faced dozens of allegations of payout denials . While Ciaramello dismissed these allegations as “propaganda,” the platform later acknowledged suspending payouts for a “self-imposed internal audit,” only to suspend services shortly after . Coordinated propaganda attack against @thefundedtrader ? Sounds about right. New Judge Judy episode dropping soon 🧑⚖️In the latest announcement, the platform ensured that “accounts with pending payouts will receive their payments… according to a defined schedule.”However, there is a setback for the active account holders as all of them, including the ones with challenge and funded accounts, will need to restart from the challenges. “Accounts without pending payouts will receive a 100% off coupon for a new Phase 1 account according to the same parameters as the Challenge accounts,” the announcement noted. “All users will receive coupons to gain access to an account for the relaunch. There will be no migrations for old accounts.”Topics6251 ArticlesArnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies. 6251 ArticlesEmailBy subscribing, you agree to our Terms of Use and Privacy Policy . You may unsubscribe at any time. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. SIGN UPKeep ReadingThursday, 25/04/2024 | 10:43 GMTThursday, 25/04/2024 | 09:01 GMTThursday, 25/04/2024 | 07:51 GMTThursday, 25/04/2024 | 06:13 GMTWednesday, 24/04/2024 | 09:19 GMTWednesday, 24/04/2024 | 07:14 GMTThursday, 25/04/2024 | 09:29 GMTThursday, 25/04/2024 | 08:09 GMTThursday, 25/04/2024 | 07:55 GMTThursday, 25/04/2024 | 06:29 GMTWednesday, 24/04/2024 | 13:07 GMTWednesday, 24/04/2024 | 12:21 GMTThursday, 25/04/2024 | 09:29 GMTThursday, 25/04/2024 | 08:09 GMTThursday, 25/04/2024 | 07:55 GMTThursday, 25/04/2024 | 06:29 GMTNetwork, Learn, Grow | FMAS:24Get ready to mark your calendars for FMAS:24, returning this May! 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Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.Don't miss out on this 5-second invite packed with energy and urgency!Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica📣 Stay updated with the latest in finance and trading!Follow FMevents across our social media platforms for news, insights, and event updates. 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Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.Don't miss out on this 5-second invite packed with energy and urgency!Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica📣 Stay updated with the latest in finance and trading!Follow FMevents across our social media platforms for news, insights, and event updates. 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Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica📣 Stay updated with the latest in finance and trading!Follow FMevents across our social media platforms for news, insights, and event updates. 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Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica📣 Stay updated with the latest in finance and trading!Follow FMevents across our social media platforms for news, insights, and event updates. 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Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica📣 Stay updated with the latest in finance and trading!Follow FMevents across our social media platforms for news, insights, and event updates. 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Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica📣 Stay updated with the latest in finance and trading!Follow FMevents across our social media platforms for news, insights, and event updates. 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Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica📣 Stay updated with the latest in finance and trading!Follow FMevents across our social media platforms for news, insights, and event updates. 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Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica📣 Stay updated with the latest in finance and trading!Follow FMevents across our social media platforms for news, insights, and event updates. 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Connect with industry leaders and innovators for an unmatched networking experience.20-22 MAY 2024Sandton Convention Center, Sandton, South AfricaRegister now to secure your spot: https://bit.ly/3JbUpCK#fmas #fmas24 #fmevents #networking #finance #africa📣 Stay updated with the latest in finance and trading!Follow Finance Magnates for news, insights, and event updates across our social media platforms. 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Connect with industry leaders and innovators for an unmatched networking experience.20-22 MAY 2024Sandton Convention Center, Sandton, South AfricaRegister now to secure your spot: https://bit.ly/3JbUpCK#fmas #fmas24 #fmevents #networking #finance #africaLooking to expand your network in #Africa?Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.20-22 MAY 2024Sandton Convention Center, Sandton, South AfricaRegister now to secure your spot: https://bit.ly/3JbUpCK#fmas #fmas24 #fmevents #networking #finance #africaLooking to expand your network in #Africa?Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.20-22 MAY 2024Sandton Convention Center, Sandton, South AfricaRegister now to secure your spot: https://bit.ly/3JbUpCK#fmas #fmas24 #fmevents #networking #finance #africaLooking to expand your network in #Africa?Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.20-22 MAY 2024Sandton Convention Center, Sandton, South AfricaRegister now to secure your spot: https://bit.ly/3JbUpCK#fmas #fmas24 #fmevents #networking #finance #africaLooking to expand your network in #Africa?Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.20-22 MAY 2024Sandton Convention Center, Sandton, South AfricaRegister now to secure your spot: https://bit.ly/3JbUpCK#fmas #fmas24 #fmevents #networking #finance #africaLooking to expand your network in #Africa?Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.20-22 MAY 2024Sandton Convention Center, Sandton, South AfricaRegister now to secure your spot: https://bit.ly/3JbUpCK#fmas #fmas24 #fmevents #networking #finance #africaWhere the Prop Trading Industry Goes from Here | Finance Magnates PodcastWhere the Prop Trading Industry Goes from Here | Finance Magnates PodcastWhere the Prop Trading Industry Goes from Here | Finance Magnates PodcastWhere the Prop Trading Industry Goes from Here | Finance Magnates PodcastWhere the Prop Trading Industry Goes from Here | Finance Magnates PodcastWhere the Prop Trading Industry Goes from Here | Finance Magnates PodcastExplore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.Tune in for expert analysis on the future of trading and innovative funding models.The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circ*mstances.📣 Stay updated with the latest in finance and trading!Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/👍 Facebook: https://www.facebook.com/financemagnates/📸 Instagram: https://www.instagram.com/financemagnates_official🐦 X (Twitter): https://twitter.com/financemagnates/📡 RSS Feed: https://www.financemagnates.com/feed/▶️ Telegram: https://t.me/financemagnatesnewsDon't miss out on our latest videos, interviews, and event coverage.🔔 Subscribe to our YouTube channel for more!🔔Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.Tune in for expert analysis on the future of trading and innovative funding models.The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circ*mstances.📣 Stay updated with the latest in finance and trading!Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/👍 Facebook: https://www.facebook.com/financemagnates/📸 Instagram: https://www.instagram.com/financemagnates_official🐦 X (Twitter): https://twitter.com/financemagnates/📡 RSS Feed: https://www.financemagnates.com/feed/▶️ Telegram: https://t.me/financemagnatesnewsDon't miss out on our latest videos, interviews, and event coverage.🔔 Subscribe to our YouTube channel for more!🔔Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.Tune in for expert analysis on the future of trading and innovative funding models.The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circ*mstances.📣 Stay updated with the latest in finance and trading!Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/👍 Facebook: https://www.facebook.com/financemagnates/📸 Instagram: https://www.instagram.com/financemagnates_official🐦 X (Twitter): https://twitter.com/financemagnates/📡 RSS Feed: https://www.financemagnates.com/feed/▶️ Telegram: https://t.me/financemagnatesnewsDon't miss out on our latest videos, interviews, and event coverage.🔔 Subscribe to our YouTube channel for more!🔔Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.Tune in for expert analysis on the future of trading and innovative funding models.The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circ*mstances.📣 Stay updated with the latest in finance and trading!Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/👍 Facebook: https://www.facebook.com/financemagnates/📸 Instagram: https://www.instagram.com/financemagnates_official🐦 X (Twitter): https://twitter.com/financemagnates/📡 RSS Feed: https://www.financemagnates.com/feed/▶️ Telegram: https://t.me/financemagnatesnewsDon't miss out on our latest videos, interviews, and event coverage.🔔 Subscribe to our YouTube channel for more!🔔Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.Tune in for expert analysis on the future of trading and innovative funding models.The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circ*mstances.📣 Stay updated with the latest in finance and trading!Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/👍 Facebook: https://www.facebook.com/financemagnates/📸 Instagram: https://www.instagram.com/financemagnates_official🐦 X (Twitter): https://twitter.com/financemagnates/📡 RSS Feed: https://www.financemagnates.com/feed/▶️ Telegram: https://t.me/financemagnatesnewsDon't miss out on our latest videos, interviews, and event coverage.🔔 Subscribe to our YouTube channel for more!🔔Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.Tune in for expert analysis on the future of trading and innovative funding models.The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circ*mstances.📣 Stay updated with the latest in finance and trading!Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/👍 Facebook: https://www.facebook.com/financemagnates/📸 Instagram: https://www.instagram.com/financemagnates_official🐦 X (Twitter): https://twitter.com/financemagnates/📡 RSS Feed: https://www.financemagnates.com/feed/▶️ Telegram: https://t.me/financemagnatesnewsDon't miss out on our latest videos, interviews, and event coverage.🔔 Subscribe to our YouTube channel for more!🔔
