In the world of proprietary trading, companies like Funded Engineer promise lucrative opportunities for traders. However, not all that glitters is gold. This article explores the troubling experiences of a user who believes Funded Engineer is on the brink of an exit scam. Based on their testimony, we’ll delve into the alleged fraudulent activities, ongoing legal battles, and unresolved payouts that have cast a shadow over the company’s reputation.
The Initial Attraction to Funded Engineer
Enticing Deals and Initial Blind Faith
Many traders, including our user, were drawn to Funded Engineer by their enticing deals and promises of profitable trading opportunities. Unfortunately, the lack of transparency about the company’s legal troubles and operational issues led to a rude awakening for many.
Issues with Account Management
The user experienced numerous problems with their trading account, including slippages, breaches, and glitches. Although these issues were eventually resolved, the user remains convinced that the company manipulated their account to prevent profitability.
Legal Troubles and Financial Instability
The $50 Million Lawsuit
Funded Engineer is currently embroiled in a $50 million lawsuit with FPFX. The allegations include creating fake trading accounts and engaging in “wash trading,” resulting in FPFX losing an estimated $700,000 in revenue. These serious charges have raised concerns about Funded Engineer’s ability to operate ethically and legally.
Agreement Termination and Migration Chaos
On February 9th, FPFX terminated their agreement with Funded Engineer, triggering a chaotic migration process. Many users who had accounts before the termination and during the migration period have yet to receive their refunds, despite waiting for over 40 business days.
Unresolved Payouts and Growing Frustration
Delayed Payments
Our user requested a payout of over $30,000 on April 22nd, which was approved on April 24th. However, as of now, they have been waiting for 12 business days, far exceeding the promised 3-5 working days. The user reports that Funded Engineer later extended this period to 7-14 working days, yet many users have been waiting for over 40 days without receiving their funds.
Suspected Exit Scam
The user and many others in the community suspect that Funded Engineer is orchestrating an exit scam. Despite claims of ongoing payouts, there is widespread belief that these are fake, with no credible or verified payouts being reported. The user knows of at least 10 people collectively awaiting over $330,000 in payouts.
The Community’s Growing Concerns
Discord Complaints and Lack of Sales
Funded Engineer’s Discord channel is flooded with complaints from users about delayed payments and unresolved issues. The company appears to be struggling with sales, as potential customers are deterred by the mounting evidence of financial instability and poor customer service.
The Future of Funded Engineer
Given the ongoing legal battles, unresolved payouts, and widespread distrust within the trading community, the user believes that Funded Engineer is on the brink of collapse. They predict that the company will not survive the next month unless significant changes are made.
Conclusion
The testimony of this user paints a bleak picture of Funded Engineer’s current state. The company’s alleged fraudulent activities, legal troubles, and failure to honor payouts have severely damaged its reputation. As the user aptly puts it, “JUST PAY MY $30,000 DOLLARS+ MY REFUND AND LET US GO OUR SEPARATE WAYS.” Unless Funded Engineer can address these issues and restore trust, its future looks increasingly uncertain.
