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 drawdown greater than 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.”
Hello everyone,
With the ongoing issues regarding Purple not issuing new accounts to the prop space, we have experienced some slight delays in migration. Moving forward, we will be issuing all new accounts on Blueberry markets.
Refunds will be provided to everyone who requests…
— Funded Engineer (@fundedengineer) February 13, 2024
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 proprietary trading firms worldwide.
This move
followed FPFX Technologies’ sudden termination of its agreement with Funded
Engineer. The 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.
Firstly, I am pleased to inform you that everything is proceeding as planned, and we are on track to commence full services by next week.
I want to express my sincere gratitude to each one of our team for the hard work and dedication during this busy period. I also want to…
— Funded Engineer (@fundedengineer) February 9, 2024
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 drawdown greater than 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.”
Hello everyone,
With the ongoing issues regarding Purple not issuing new accounts to the prop space, we have experienced some slight delays in migration. Moving forward, we will be issuing all new accounts on Blueberry markets.
Refunds will be provided to everyone who requests…
— Funded Engineer (@fundedengineer) February 13, 2024
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 proprietary trading firms worldwide.
This move
followed FPFX Technologies’ sudden termination of its agreement with Funded
Engineer. The 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.
Firstly, I am pleased to inform you that everything is proceeding as planned, and we are on track to commence full services by next week.
I want to express my sincere gratitude to each one of our team for the hard work and dedication during this busy period. I also want to…
— Funded Engineer (@fundedengineer) February 9, 2024
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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- Source: https://www.financemagnates.com//forex/funded-engineer-postpones-relaunch-shifts-to-blueberry-markets/
