While The Funded Trader (TFT) has made many promises to its investors over the past few months, for most, the only important issue remains to recover their frozen funds. The prop firm has been grappling with regular payout problems since late March. However, this week it presented a solution aimed at expediting the resolution.

TFT to Inform Traders if They're “Eligible” for Payout

The prop firm announced through its official Discord that it had sent emails to users waiting for funds since March 28, when payouts were suspended, informing them if their withdrawal qualifies.

Moreover, TFT is launching a new type of challenge, with part of the profits earmarked for clearing backlogged payouts.

“All payouts, revenue, and funds available will be publicly displayed so you can track the progress in real time,” commented a Discord user named The Funded Trader Admin. “We know the wait has been too long, but we are committed to honoring every payout.”

Users on X (formerly Twitter) widely confirmed receiving emails containing similar information, along with the amount due for payout.

I received it too . But i didn t received the payout yet . I will come with an update if i receive it . pic.twitter.com/80sjXMZULs

— 1aru (@1ruuuu1) September 10, 2024

Whether this update will actually speed up the payout process or is merely a smokescreen to appease increasingly irritated traders remains unknown.

In an update from a few weeks ago, the prop firm reported that it had managed to repay 30% of its outstanding debts to traders and 55% to affiliates. Additionally, The Funded Trader informed users that it's addressing issues related to traders whose accounts were breached in March and those on DXTrade who were “wrongfully breached” due to server errors.

New Company, New Platform, and New Clients

In July, the controversial prop trading firm announced plans to launch a new entity called The Futures Traders, which would focus on the futures market. However, as with many other TFT announcements, clients haven't received any additional details, and the project's status remains unknown. The idea was met with significant outrage from traders who are still struggling to recover their funds.

Exciting news!

We’re launching The Futures Traders, a new futures firm focused on smooth operations and sustainability.

Stay tuned for more details, including our website and dashboard preview!#FuturesTrading #TFTUpdates pic.twitter.com/FBmFmbbMsb

— The Funded Trader (@thefundedtrader) July 26, 2024

However, TFT occasionally manages to deliver. This was the case with the equally hyped launch of the Match-Trader platform. Although the premiere faced considerable delays and took nearly three months, prop firm clients have been able to use the platform since the end of last month.

Last week, TFT also announced that it had opened its new platform and the existing one, DXtrade, to users from additional parts of the world, including the United States.

Since the MetaQuotes crackdown in the prop trading industry in February, many firms suspended services for US clients but have gradually found ways to offer their products to them again.