Three months ago, the prop firm The Funded Trader (TFT) promised its clients that final decisions regarding the settlement of payouts, overdue for many months, would be announced by January 2025.

However, weeks have passed since then, and traders are only receiving more plans and promises. Meanwhile, the number of people waiting in line has increased by almost 400, according to information provided by TFT.

1,272 People Waiting for Their Money at The Funded Trader

Over the weekend, TFT published an update regarding the mounting backlog of payouts to its clients since last year. We learn that since March 2024, 1,272 people have been waiting for their funds to be paid out. This is an interesting number, as at the end of November, the same prop firm reported that 900 people were in the queue.

As we can see, instead of being resolved, the problem continues to grow, and all TFT offers are more apologies, new repayment plans, and assurances that they will happen soon.

This time, the company asked the client community on Discord how they would like the overdue payments to be processed, giving them three different options:

  • Option 1: Prioritization of largest payouts – the current approach, although as the post indicates, it has still not been implemented
  • Option 2: Equal payments to all traders (each client receives fixed monthly payments) – in TFT's example, this could be $25 per trader, totaling almost $32,000 per month. They also note that if "company's finances improve," payments could increase
  • Option 3: Hybrid approach – a combination of the first two options, traders waiting for larger payouts would receive larger monthly refunds

The ongoing survey shows that votes are fairly evenly distributed. The first and third options each received 30% of the votes, while the majority (40%) leans towards option two, which is equal treatment of all clients.

Source: Discord
Source: Discord

"I see this as a challenge that I'm determined to overcome," the company commented. "I'm committed to TFT and the community we've built. I'll be here until we either reach the top again or fail again."

Source: Discord
Source: Discord

Promises, But What's Next?

In December, The Funded Trader presented a five-point plan for further actions, with the first item being to provide principles and a schedule for repaying all waiting traders by January 2025. As we can see, these may have been just more assurances, as the firm still hasn't resolved the issue.

However, TFT cannot be denied the desire to solve this problem. The firm did not operate for five months in 2024 and returned in August after a long period of suspension of its activities, which was announced at the end of March.

"I could point fingers, but at the end of the day, the responsibility falls on me," the statement added.

Source: Finance Magnates