There’s trouble in the world of prop trading! Two companies, Skilled Funded Traders (SFT) and The Funded Trader, both shut down their operations recently. This comes after a period of uncertainty for both firms.
On March 28, 2024 the company post a notice on its official website:
“We regret to inform you that Skilled Funded Traders has temporarily ceased all operations, including new purchases, effective immediately. We appreciate your patience and understanding during this period.”
The company hasn’t disclosed the specific reason for the suspension.
SFT claims to be exploring ways to resume operations, but details and timelines are unavailable. Many traders have expressed concerns on social media platforms like Trustpilot, claiming payout issues and trading platform problems.
Skilled Funded Trader (SFT) and The Funded Trader are both owned by the same company, Easton Consulting Technologies and both companies shut down around the same time.
Riz Iqbal, the person who ran SFT, stepped down as owner and gave up all his shares two weeks before the company suspended operations. It’s unclear whether Iqbal’s departure is related to the shutdown. He hasn’t been able to get any explanation from the company that still owns SFT (Easton Consulting Technologies).
This news adds to the confusion surrounding the suspension. It suggests there might be internal issues at SFT beyond what Iqbal could share.
