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! ⚔️
— The Funded Trader (@thefundedtrader) September 10, 2024
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. 🏰…
However, they emphasized that payouts for smaller accounts would only be processed after dealing with the largest ones, 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.
