Unlisted Firms
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In recent weeks, we've received several reports about payout delays with @GlowNodefx through our Payout Time Tracker. Additionally, the firm has decreased to a 3.6 rating on Propfirmmatch. GlowNode has acknowledged the delays, stating that all payments will be made by the first week of August at the latest. However, they have not provided us with the requested documentation on this matter and have not responded to us despite multiple follow-ups, which falls short of our expectations for our listed firms. Therefore, we are suspending the firm from Propfirmmatch effective today. If they settle all outstanding payments as promised and provide documentation that assures us of solid, trader-friendly business operations moving forward, we will lift the suspension. If these conditions are not met, the decision will remain permanent.
In recent weeks, we've received a notable amount of complaints about @SmartPropTrader. The complaints regard delayed payouts, unjustified breaches, and users being banned on Discord for raising these concerns.
Propfirmmatch's Payout Time Tracker feature shows several payouts pending for more than 30 days.
We reached out to Smart Prop Trader on July 2 to address these issues, but have not received any response, despite reminders.
This conduct falls short of our criteria for Propfirmmatch-listed firms, leading us to discontinue listing Smart Prop Trader.
True Forex Funds has ceased operations. Statement from the firm can be found here.
@UWMTrading is delisted from Propfirmmatch.com. We have recently received several reports of payout denials where the firm has been unable to provide evidence of clear rule violations to the trader. We reached out to the firm in an attempt to resolve the cases or obtain proof, but after several attempts, the cases haven't been addressed. As payout denials without evident rule breaches are unacceptable to us, we've removed UWM from our listings.
On May 1, @myflashfunding reported they had experienced data feed issues, which according to their assessment created an unusually favorable environment for traders. As a result, they have denied and adjusted payouts, attributing it to data feed problems. Regardless of whether the reason is justified or not, we believe the responsibility for these issues rests with the firm - not the traders.
Our policy is clear: If you trade with a Propfirmmatch-listed firm and stick to the firm's defined rules, you should get paid.
Consequently, we are suspending My Flash Funding from our platform. We hope the firm will listen to the community and compensate the affected traders. Should this occur, we will reconsider the suspension.
@Swift_Funding will no longer take new purchases, and @MyFundedFX will acquire the remainder of the company to complete payout obligations.
MyFundedFX CEO and Swift co-founder @MattLeech states the following:
- Pending payouts will be processed within 48-72 hours, with refunds available for untraded challenge accounts.
- All funded accounts will soon be disabled. Profits made in those funded accounts will be processed on the day they are due like normal.
- Challenge accounts will soon be disabled but only temporarily while they are working on solutions.
- Support channels stay open, and obligations will be met in three days.
Funded Engineer has been suspended from Propfirmmatch.com. Today, the firm announced that all funded accounts from challenges purchased before the migration on February 7 will be compromised, only offering them a Phase 1 account as a replacement. New accounts bought after February 7 are not affected.
Regarding pending payouts, they say 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, the chosen approach does not adhere to the standards we set for firms listed on Propfirmmatch.
Complaints against a firm named Cashflowfunding(@CFFunding), which is not listed on our platform, have significantly increased recently. In the last 30 days, more than 50% of their Trustpilot reviews have been 1-star ratings. Coupled with issues reported directly to Propfirmmatch and across social media platforms, these reviews highlight payout delays and denials, unjustified account breaches, and unresponsive support.
We currently receive daily complaints about KortanaFX, a firm that has never been listed or considered for listing at Propfirmmatch.com, due to a large number of reported payout denials and their allowance of high-frequency trading. Recently, the number of complaints on social media, Trustpilot, and directly to Propfirmmatch has escalated. In the last 30 days, more than 40% of their Trustpilot reviews are 1-star. Many of the reports consist of payout denials, explained by their use of multiple IP addresses or violations of a recently changed consistency rule.
Bespoke Funding has been delisted from Propfirmmatch.com. As we consistently aim to set higher standards for the firms we list, a review has shown that this firm does not meet our requirements. The decision is due to multiple reports of payout delays and denials, and widespread user dissatisfaction across social media and Trustpilot over time, and recently through our newly launched Propfirmmatch Reviews. Reflecting on this, we acknowledge that this action was overdue.
We receive daily complaints about TheForexFunder. This is a firm we have never listed and never considered listing, due to multiple red flags over a longer period. Recently, the issues have escalated. In the last 30 days, more than 90% of their Trustpilot reviews are 1-star. Users report having waited for their account details for over a month, payouts for the same period, unfair breaches, and payout denials.
Skilled Funded Trader has been suspended from Propfirmmatch.com. The suspension is due to a significant number of complaints and instances of payout delays and denials reported on Trustpilot, through social media, and directly to Propfirmmatch, in addition to the firm's connection to The Funded Trader. The volume of negative incidents falls short of the standards we maintain for firms listed on Propfirmmatch. The firm has stated that it will address the issues by Friday. Our future actions will depend on how they handle the issues and rectifying the situation for the impacted traders.
The Funded Trader has been suspended from Propfirmmatch.com. The suspension is due to a significant number of complaints and instances of payout denials reported on Trustpilot, through social media, and directly to Propfirmmatch. Note that we have not verified any individual case, however, the volume of negative incidents falls short of the standards we maintain for firms listed on Propfirmmatch. The decision is not final but requires a proper resolution of ongoing issues and fair compensation for affected traders to be reconsidered.
On February 7th, we were contacted by a Fidelcrest trader who had been waiting for 11 weeks for his payout. The trader shared evidence of repeatedly being told to remain patient, if receiving a reply at all. We know there can always be two sides to the story, so we reached out to Fidelcrest for an explanation. Our efforts, however, were met with the same treatment - either silence or vague promises of a response that never came.
Note that it´s not the case alone that led to our decision as we don't have the full story. However, the lack of reply from the firm to us is the deciding reason. We constantly increase the bar for the firms we feature, and the ability for quick communication, if a trader is having a significant issue like this, is a bare minimum of what we expect.
We will keep following up on the specific case in an attempt to get it resolved, but our decision is final regardless of the outcome.
@andrew_nfx posted a video about being denied a $30K payout from Forex Capital Funds. We saw the video and reached out to the firm for their side of the story, questioning their reason behind the denial. Their explanation was that they had agreed on a risk limit with the trader, which the trader did not uphold. We have seen the claimed agreement, and even though risk management was discussed, there was in our opinion by no means a clear agreement on limitations besides the normal terms, and the trader was in his full right to receive his payout.Consequently, as of today, Forex Capital Funds is no longer listed on Propfirmmatch.
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