As the turmoil in the retail prop trading sector is continuing following moves being made by certain trading platform providers (mainly MetaQuotes, developer of the MT4 and MT5 platforms) and certain CFD brokers (under pressure from MetaQuotes) to halt doing business with numerous prop firms, popular prop outfit Funding Pips has announced that it is back up and doing business, after adding the Match-Trader platform.
In a Discord message sent out late yesterday to Funding Pips clients, CEO Khaled Ayesh stated,
We are fully back my people. Next week we are bringing Ctrader and TradeLocker. By now all of you have received your accounts, all instructions and even the tutorials. Our apologies for being shut down, but now nothing can bring us down ever again. Less than the promised timeline.
As to the reason to focus initially on Match-Trader, Khaled noted that Match-Trader is the only platform which allows migrating trading accounts history. Meaning, it is the only platform that can show all of MT5 accounts trading history.
This morning, Khaled also messaged that the cTrader and TradeLocker platforms will be up next week.
While Funding Pips clients can now trade on Match-Trader with accounts having been migrated, Khaled said that Match-Trader will have the feature to move clients’ SL/TP (i.e. stop loss and take profit) on chart by next week.
Some other issues with the new platform are also being delayed, with Funding Pips stating that there is a bug in accounts upgrades. Phase 1 to Phase 2 will be done, the in-reviews and onboarding will be solved today or “max tomorrow”. Khaled noted that they have pushed most of operations by the “blackout time”, with balance based drawdowns coming soon once all platforms are up (copying between Funding Pips accounts as well, 200k account coming soon as well).
Regarding payouts, Khaled said that payouts eligibility and requests are being pushed by the blackout period, meaning if you were eligible for a payout on the 20th it will be on 27th. Floating losses and profits which the company was forced to close while the sever was being shut down cannot be found anywhere in the database, with Khaled saying that this is good news for the traders that were in a floating loss, and bad news for the traders were in floating profit.
