My Funded Futures, led by the well-known Matt Leech, has recently come under fire for its treatment of users. The company’s reputation is rapidly declining due to numerous complaints about account suspensions and denied payments. Users have taken to social media and review platforms to express their frustration, revealing a troubling pattern of behavior by the company’s management.
User Complaints and Account Suspensions
Case of @FCatalan16
On Twitter, user @FCatalan16 shared a troubling experience with My Funded Futures. His account was suspended, and a payment of over $33,000 was denied. The reason given was a failure to meet the minimum activity requirements. However, @FCatalan16 and other users claim this is a flimsy excuse used by the company to avoid payouts.
Recall that the website itself indicates that they do not ask for a minimum number of days traded or consistency plans, the main reasons for denying payment to this user.
It is simple, they don’t pay him because they don’t have money.
Case of @SilverBullet
Similarly, @SilverBullet, a YouTuber, uploaded a series of videos detailing his issues with My Funded Futures. His account was also suspended for the same reason, despite the company’s own rules indicating that the type of trading he conducted was permissible. Both users have been accused of violating consistency rules, even though My Funded Futures advertises “No consistency rules” for their Expert Plan.
Consistency Rules Controversy
The inconsistency in the company’s policies has sparked outrage among traders. The website states that there are no minimum trading days for all phases, which contradicts the reasons given for the suspensions. This has led to accusations of false advertising, as users feel misled by the company’s promotional material.
Trust Issues and Negative Reviews
TrustPilot and Online Reviews
A quick search on Google and TrustPilot reveals a slew of negative reviews about My Funded Futures. Users frequently mention problems with withdrawals, unresponsive customer service, and arbitrary account suspensions. Here are some notable complaints:
- Darren O.: “I was denied a withdrawal despite meeting all the requirements. Customer support gave me vague reasons and eventually stopped responding.”
- Jane T. : “My account was suspended without proper explanation. The reason given was inconsistent trading, which is not against their rules. This company is a scam!”
- Michael P. : “After reaching the profit target, my account was suddenly deactivated, and I was accused of rule violations that were never clearly explained.”
Additionally, a review on Benzinga highlights issues with account restrictions and activation fees, particularly for Starter accounts, which require an activation fee and have profit caps during the initial phase. The review also points out that the company’s consistency rules can prevent withdrawals if a single day’s profit exceeds 40% of total profits.
Financial Stability Concerns
Several reviews hint at My Funded Futures’ financial instability, suggesting that Matt Leech might be struggling to maintain the necessary liquidity to pay out successful traders. This has raised red flags among the trading community, as liquidity issues can severely impact the reliability of a funding company. Users have reported delays in withdrawals and a lack of transparency regarding the company’s financial health.
Other Complaints
Users have also reported technical issues and perceived unfair trading restrictions. A review on ProsperTrading.com points out the stringent scaling and consistency rules that can be challenging for less experienced traders to navigate. The static drawdown limit, which does not adjust based on account balance, has also been criticized for limiting trading flexibility during volatile market phases.
Conclusion
The Importance of Due Diligence
The experiences shared by @FCatalan16 and @SilverBullet underscore the importance of due diligence when choosing a trading platform. My Funded Futures’ apparent inconsistencies in policy enforcement and troubling financial practices suggest that traders should approach this company with caution.
A Call for Transparency
For My Funded Futures to regain trust, Matt Leech and his team need to address these concerns transparently. Clear communication, fair treatment of users, and adherence to advertised policies are crucial steps towards restoring confidence in the company.
If you are looking to trade futures, stay away from this platform.
As the trading community continues to share their experiences, it’s vital to stay informed and cautious. My Funded Futures’ current trajectory, marked by numerous complaints and negative reviews, serves as a stark reminder of the challenges and risks involved in the funded trading industry.
By addressing these issues head-on and making significant changes, My Funded Futures has the potential to improve its reputation and provide a more reliable service to traders. However, until then, the community remains wary and skeptical.
