Prop trading comparison site Propfirmmatch.com has announced that retail prop trading firm Funded Engineer has been suspended from its site.
According to Propfirmmatch.com, Funded Engineer has announced that all funded accounts from challenges purchased before the company’s migration [ed: from tech provider FPFX] on February 7 will be compromised, only offering them a Phase 1 account as a replacement.
New accounts bought after February 7 on Funded Engineer are apparently not affected.
Regarding pending payouts, Propfirmmatch.com states that Funded Engineer says that they will be processed once the firm “regains stability”. The firm contends that this action is crucial for its longevity and ability to continue operating. However, Propfirmmatch.com said that the chosen approach does not adhere to the standards it sets for firms listed on its site.
We had reported back on February 7 that broker tech provider FPFX had terminated the license it provided for the use of its products to Funded Engineer, over an alleged fraud scheme. Funded Engineer also changed executing brokers in early February, delaying its relaunch.
