It happened again! What is going on with prop firms these days?
Recently we have reported that the prop firm “The Funded Trader” has stopped its operations, and now we regret to inform you that it happened again. A proprietary firm that goes by the name Skilled Funded Traders have also closed their doors.
A few days ago a fairly new prop firm named “Skilled Funded Traders” took down their website.
“We regret to inform you that Skilled Funded Traders has temporarily ceased all operations, including new purchases, effective immediately.” -From skilledfundedtraders.com
Skilled Funded Traders is already the second prop firm partnered with Easton Tech that has ceased operations. Easton Consulting Technologies is a relatively new company that helps its clients launch evaluation firms.
They have 4 firms working with them, well, at least they had 4. As of today Skilled Funded Traders and The Funded Trader have ceased all operations, and Easton tech has 2 remaining evaluation firms partnered with them.
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Skilled Funded Traders Origins
Skilled Funded Traders seems to be owned by two traders named Paladin and Riz. The Miami based firm was established by traders, for traders. They have been operating since 2022 with an estimate of over $5,000,000 in payouts to their clients. The details about the ownership of SFT (Skilled Funded Traders) is quite vague, but from what we found STF emphasized their desire to be engaged with their trader community. “It’s all about the community”, they mentioned in a YouTube video.
Skilled Funded Traders Challenges
Skilled Funded Traders offer two kinds of challenges, they have a standard challenge and a skilled challenge which is a unique spin on the challenges offered in many evaluation firms. The standard challenge is similar to what you would find in most two-step evaluation firms (FTMO, Funded Trading Plus, Funded Next ect..) with the only difference being that Skilled Funded Traders have the option to choose between the regular challenge and their swing challenge. The swing challenge offers traders to hold their trades on a weekend and offers maximum leverage of 1:30.
Why Did Skilled Funded Traders Shut Down?
The reason for SFT shutting down is still unclear, and all the information about their closing is quite vague. Prop firms shutting down unexpectedly is not something new, it has been happening from the moment proprietary firms were a thing. The prop firm has acknowledged issues they were facing during their migrations to platforms like cTrader and DXtrade.
Former administrator Riz Iqbal has shared on social media that he has left the company from March 15, Riz has also stated that Skilled Funded Traders have been left in the dark by Easton Tech. Traders should always keep in mind that the firm they are trading with might not run for a long time and choosing the right firm should be done with extreme caution.
What’s In The Future For Skilled Funded Traders Clients?
Many of Skilled Funded Traders clients have gone to social media and especially Trustpilot to post complaints and report payout denials and bad trading conditions. Whether SFT’s clients will receive the payouts they are owed is unclear. If SFT will start operations again is also unclear.
A New Beginning
OFP Funding, a well-known prop firm that’s dedicated to helping traders get results quickly and easily sends a heartfelt invitation to all the traders who were hurt by SFT. OFP puts their clients first with customer support offered in multiple languages, options for payouts (monthly or on-demand) and a warm and engaged community that’s setting a new standard for all of today’s prop firms. Start a new journey today and join our family.
