Prop Trading Firm Funded Engineer Postpones Relaunch

by

The
proprietary trading firm Funded Engineer will delay plans to
relaunch its services. This followed the alleged termination of its software
licenses by FPFX Technologies last week. Consequently, Funded Engineer has
opted to switch its broker for all clients’ trades to Blueberry Markets.

According
to a post on X, Funded Engineer mentioned: “Refunds will be provided to
everyone who requests one and is eligible. The requirements for refunds are as
follows: Your account must have no greater than a drawdown of 4%. If your account
has less than a drawdown of 4% and you wish for a refund, it will be issued.
Please note that by doing so, you will lose access to the account.”

According
to the beleaguered firm, there is a backlog of pending payouts from the 7th. The company will reportedly process these pending payouts starting
today (Tuesday). In addition to the payouts, a substantial portion of
refunds will reportedly be disbursed today.

Recently,
Purple Trading suspended services for Funded Engineer and other proprietary trading
firms. Purple Trading, the brokerage partner for Funded Engineer, announced the suspension of its MT4 and MT5 services effective immediately, affecting prop
trading firms worldwide.

This move
followed FPFX Technologies’ sudden termination of its agreement with Funded
Engineer. This step sparked a series of challenges for the Dubai-based platform. The
suspension of services by Purple Trading, especially for US citizens and
residents, underscored the volatility and regulatory complexities facing proprietary trading platforms globally.

Potential
Brokerage Partners

Funded
Engineer acknowledged the broader implications of Purple Trading’s suspension,
expressing concern for the prop trading community. In
response to the crisis, the company revealed potential brokerage partners,
such as Think Markets and Blueberry Markets. The platform’s approach aims to mitigate the impact of Purple Trading’s suspension on its
operations and clientele.

Additionally,
FPFX Technologies‘ abrupt termination has forced Funded Engineer to explore
legal recourse while migrating clients to proprietary
technologies.

The
proprietary trading firm Funded Engineer will delay plans to
relaunch its services. This followed the alleged termination of its software
licenses by FPFX Technologies last week. Consequently, Funded Engineer has
opted to switch its broker for all clients’ trades to Blueberry Markets.

According
to a post on X, Funded Engineer mentioned: “Refunds will be provided to
everyone who requests one and is eligible. The requirements for refunds are as
follows: Your account must have no greater than a drawdown of 4%. If your account
has less than a drawdown of 4% and you wish for a refund, it will be issued.
Please note that by doing so, you will lose access to the account.”

According
to the beleaguered firm, there is a backlog of pending payouts from the 7th. The company will reportedly process these pending payouts starting
today (Tuesday). In addition to the payouts, a substantial portion of
refunds will reportedly be disbursed today.

Recently,
Purple Trading suspended services for Funded Engineer and other proprietary trading
firms. Purple Trading, the brokerage partner for Funded Engineer, announced the suspension of its MT4 and MT5 services effective immediately, affecting prop
trading firms worldwide.

This move
followed FPFX Technologies’ sudden termination of its agreement with Funded
Engineer. This step sparked a series of challenges for the Dubai-based platform. The
suspension of services by Purple Trading, especially for US citizens and
residents, underscored the volatility and regulatory complexities facing proprietary trading platforms globally.

Potential
Brokerage Partners

Funded
Engineer acknowledged the broader implications of Purple Trading’s suspension,
expressing concern for the prop trading community. In
response to the crisis, the company revealed potential brokerage partners,
such as Think Markets and Blueberry Markets. The platform’s approach aims to mitigate the impact of Purple Trading’s suspension on its
operations and clientele.

Additionally,
FPFX Technologies‘ abrupt termination has forced Funded Engineer to explore
legal recourse while migrating clients to proprietary
technologies.



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