In a recent and controversial move, the prop trading firm Funded Engineer has announced a reset of all active trading accounts to phase 1 for accounts purchased before February 7. This decision has sparked widespread outrage among traders, with many expressing their frustration on Twitter and some questioning the legitimacy of the firm. The backlash has been so significant that most prop firm rating sites and communities have suspended Funded Engineer from their listings.
The turmoil appears to be a consequence of a ban imposed by FPFX, preventing Funded Engineer from using its platform. This has led to speculation that Funded Engineer is facing financial difficulties, prompting the drastic step of resetting trading accounts to phase 1.
The Twitter Storm
Traders took to Twitter to voice their anger, with a flurry of tweets condemning the reset policy. The sentiment was overwhelmingly negative, with traders feeling betrayed by what they perceived as an abrupt and unfair decision. The hashtag #FundedEngineerScam began trending, as traders shared their personal stories of how the reset has impacted their trading strategies and financial plans.
Suspension by Rating Sites
The controversy has not gone unnoticed by the broader trading community. In response to the outcry, several prominent prop firm rating sites and online trading communities have suspended Funded Engineer, citing the need to protect their members from potential financial risks associated with the firm’s recent actions.
The FPFX Ban and Financial Struggles
The root of the issue seems to stem from a ban by FPFX, which has raised questions about Funded Engineer’s operational integrity. The ban suggests that there may have been significant issues with the firm’s trading practices. Coupled with the account resets, this has fueled rumors that Funded Engineer is unable to fulfill its financial obligations to traders, leading to the drastic measure of account resets as a stop-gap solution.
Looking Ahead
As the trading community reels from Funded Engineer’s decision, the future of the firm remains uncertain. Traders are calling for transparency and accountability, while the firm’s reputation hangs in the balance. The coming days will be crucial as Funded Engineer navigates through this crisis, with the hopes of regaining trust and stability.