Exclusive: Prop firm The Funded Trader halts payouts amid ‘self imposed internal audit’

FNG Exclusive… FNG has learned that prop trading firm The Funded Trader has halted payouts to its clients.

Miami based The Funded Trader is one of a number of leading prop trading firms serving retail clients which has been forced to stop using MetaTrader trading platforms (MT4 and MT5) amid a crackdown by MetaTrader developer MetaQuotes on brokers (and introducers) who take on US retail clients, without being duly licensed to do so.

However the transition to new platforms (and often new executing brokers) has not gone smoothly for all prop firms.

Prop firm comparison service Propfirmmatch.com posted earlier that The Funded Trader has been suspended its site. Propfirmmatch.com stated that 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.

The Funded Trader then posted that it has enabled a ‘self imposed internal audit’ of all payouts. The prop trading firm said that it will be ‘ensuring all payouts are in line with our terms of service’, and do not violate the gambling policies that the company has in place.

The company said that due to the [trading…