After FPFX Technologies terminated the software licenses of Funded Engineer last month, the proprietary trading platform is distributing accounts to users, with 95% of accounts already sent out.
According to a post on X, the company plans todispatch the remaining 300k accounts today (Monday), along with another 500kaccounts. However, as Funded Engineer no longer offers 500k accounts, userswill be issued 300k and 200k accounts based on their preferences.
Funded Engineer has opted to issue MT5 accounts forthe time being due to bugs in MT4. Once the bugs are fixed, users will have theoption to switch back to MT4. The company is reportedly processing customers'refunds daily.
In the upcoming week, Funded Engineer plans to finalizethe payout portal, which will be integrated into its dashboard. This will allowusers to request payouts directly from the dashboard.
The company mentioned: "Updates to comethis week, we are finalizing the payout portal, which will be added into thedashboard so you can request payouts inside the dashboard like before, as wellas checkout, and making some changes to how the daily and max drawdown isdisplayed to avoid further confusion."
However, Funded Engineer is not onboardingUS citizens. The company has urged users who encounter a message stating "You cannotplace a trade right now, please contact your broker" to complete their KYCverification.
Last month, Funded Engineer announced that it waspostponing its relaunch and the transition to Blueberry Markets following thetermination of its software licenses by FPFX Technologies.
Funded Engineer Grapples with Regulatory Challenges
In response to this challenge, Funded Engineeroffered refunds to eligible clients with drawdowns not exceeding 4%. In astatement on X, the firm acknowledged a backlog of pending payouts andcommitted to promptly processing them, aiming to alleviate concerns among itsclients.
— Funded Engineer (@fundedengineer) February 13, 2024Hello everyone,
With the ongoing issues regarding Purple not issuing new accounts to the prop space, we have experienced some slight delays in migration. Moving forward, we will be issuing all new accounts on Blueberry markets.
Refunds will be provided to everyone who requests…
The suspension of services by Purple Trading,coupled with FPFX Technologies' abrupt termination of services to Funded Engineer, underscoredthe volatile landscape facing proprietary trading platforms.
These challenges prompted Funded Engineer toconsider shifting to alternative brokerage partners like Think Markets andBlueberry Markets to safeguard its operations and client relationships.
Last month, FPFX Technologies ceased its collaboration with Funded Engineer. The termination of services encompassed the license agreement and all related services provided to Funded Engineer. FPFX Technologies offers software-as-a-service solutions to trading and brokerage firms.
After FPFX Technologies terminated the software licenses of Funded Engineer last month, the proprietary trading platform is distributing accounts to users, with 95% of accounts already sent out.
According to a post on X, the company plans todispatch the remaining 300k accounts today (Monday), along with another 500kaccounts. However, as Funded Engineer no longer offers 500k accounts, userswill be issued 300k and 200k accounts based on their preferences.
Funded Engineer has opted to issue MT5 accounts forthe time being due to bugs in MT4. Once the bugs are fixed, users will have theoption to switch back to MT4. The company is reportedly processing customers'refunds daily.
In the upcoming week, Funded Engineer plans to finalizethe payout portal, which will be integrated into its dashboard. This will allowusers to request payouts directly from the dashboard.
The company mentioned: "Updates to comethis week, we are finalizing the payout portal, which will be added into thedashboard so you can request payouts inside the dashboard like before, as wellas checkout, and making some changes to how the daily and max drawdown isdisplayed to avoid further confusion."
However, Funded Engineer is not onboardingUS citizens. The company has urged users who encounter a message stating "You cannotplace a trade right now, please contact your broker" to complete their KYCverification.
Last month, Funded Engineer announced that it waspostponing its relaunch and the transition to Blueberry Markets following thetermination of its software licenses by FPFX Technologies.
Funded Engineer Grapples with Regulatory Challenges
In response to this challenge, Funded Engineeroffered refunds to eligible clients with drawdowns not exceeding 4%. In astatement on X, the firm acknowledged a backlog of pending payouts andcommitted to promptly processing them, aiming to alleviate concerns among itsclients.
— Funded Engineer (@fundedengineer) February 13, 2024Hello everyone,
With the ongoing issues regarding Purple not issuing new accounts to the prop space, we have experienced some slight delays in migration. Moving forward, we will be issuing all new accounts on Blueberry markets.
Refunds will be provided to everyone who requests…
The suspension of services by Purple Trading,coupled with FPFX Technologies' abrupt termination of services to Funded Engineer, underscoredthe volatile landscape facing proprietary trading platforms.
ADVERTIsem*nT
These challenges prompted Funded Engineer toconsider shifting to alternative brokerage partners like Think Markets andBlueberry Markets to safeguard its operations and client relationships.
Last month, FPFX Technologies ceased its collaboration with Funded Engineer. The termination of services encompassed the license agreement and all related services provided to Funded Engineer. FPFX Technologies offers software-as-a-service solutions to trading and brokerage firms.
