Untrustworthy propfirm.
I have been trading with this prop firm since the beginning of May and was funded at the end of May. However, due to numerous issues they have been facing, my payout was denied, taking a couple of months to process.
To receive a funded account in the first place, one must be verified. I completed the KYC process twice, first with Sumsub and then with Veriff, before receiving my funded account. Given that I was granted the funded account, I was confident that my KYC had been accepted.
The first issue arose with the KYC process. Although I completed the KYC and received my funded account, my payout request was denied because I wasnât verified at the time. This led to a delay of an additional payout cycle of two weeks. At the end of the second payout cycle, my account was mistakenly flagged for a breach. While they resolved this issue, it took a week to address. After regaining access to my funded account, I had to wait yet another payout cycle.
Subsequently, my payout request was processed on the wrong day, leading to further confusion and delay. This resulted in another waiting period of a payout cycle. During this latest cycle, a new rule, the "2-minute rule," was introduced. I accidentally used an incorrect lot size and closed the trade within 10 seconds. I immediately entered a new trade with the correct lot size, but both trades, the 10-second trade and the subsequent correct trade, resulted in a loss. Consequently, at the end of this payout cycle, my request was denied, and all my profits were forfeited.
Throughout this period, from my first payout request, I had accrued $15,000 in profit. By the time I requested the payout, my profit had reached $17,500. However, despite being $15,000 in profit since the end of May, all of this was denied due to the single 10-second trade, which occurred after the "2-minute rule" was introduced at the end of June. As a result, a soft breach was issued.
One additional concern: Despite being denied my payout, the firm included my name in a public email claiming they had âpaidâ me in full. This was misleading, as no payout was actually received. This lack of transparency, on top of the procedural issues, raises concerns about the firmâs integrity in managing trader communications.
2024幎11æ15æ¥
èªçºçãªã¬ãã¥ãŒ