Recent updates from The Funded Trader (TFT) suggest that suspended trader payouts might not be processed before 2025. The firm has announced its focus on unblocking larger accounts with balances exceeding $100,000.
For traders waiting over six months to access their funds, patience will continue to be required, as per a statement from TFT’s CEO, Angelo Ciaramello. He outlined the company’s strategy to address ongoing payout delays, which may stretch well into next year.
Larger Accounts to Be Prioritized First
In an update shared via TFT’s Discord channel, Ciaramello provided a clearer timeline for the firm’s next steps. The first priority will be processing frozen accounts with balances of over $100,000, a process expected to commence in Q4 of 2024 and wrap up by December.
Only after these high-value accounts are addressed will TFT turn its attention to the trader payouts that have been paused since late March. While some clients recently received emails that raised hope for quicker resolutions, Ciaramello’s latest remarks suggest the payouts might not resume until early 2025.
“We’re working diligently to give a more precise timeline, but we don’t have a set date just yet,” Ciaramello stated.
Affiliate Payments and Audit Next in Line
Following the trader payouts, the firm plans to tackle overdue payments to its affiliates. However, like the trader payouts, no specific timeframe has been provided for this either.
According to data from August, TFT has managed to repay 30% of the outstanding balances to traders and 55% to affiliates. Although the company is processing new withdrawal requests without issue, the backlog of suspended payouts remains unresolved.
The final step in TFT’s roadmap is an audit of banned users to ensure that anyone entitled to funds will receive them.
“We are fully committed to addressing all outstanding issues and are here for the long term,” Ciaramello added in closing.
Meanwhile, despite delays for some traders, others have continued to profit through proprietary trading. Last week, it was reported that Fintokei, another prop trading firm, has distributed over €4 million to traders in 2024 alone, handling over 400,000 trades per day.
A recent PipFarm survey revealed that 75% of traders value timely payouts and transparent trading rules more than low fees or higher profit shares.
