Morning, traders! Tune in to TradeDaily for today's vital updates in the trading industry. Stay ahead of the curve!

Mr. Prop

On today’s Menu:

• FXCapitalFunds goes insolvent 😡

• ApexTraderFunds hits 170M payouts 🙂

• Updates to TFT traders 📜

• FinotiveFunding compensates TFF traders ⚖️

😡 FXCapitalFunds goes Insolvent

Following the collapse of TrueForexFunds, The turbulence in prop firms endures as FXCapitalFunds suspends its operations today 5/15/2024.

After updating the website and sending out contract termination emails, traders started voicing their opinions on twitter.

Making claims such as:

• “Payouts delayed since March”

• “6 hour chat delay in discord”

So we wanted to do some digging…

And we found this article published by forexpropreviews going over the Co-Founders of Forex Capital Funds backgrounds.

Though the article details the CEO’s background in e-commerce/trading and the cofounders background in real-estate/engineering, not once does it mention his ability to successfully run a financial service firm or having any qualifying license making either of the two representable to do so in the first place.

No other official statements have been released by FXCapitalFunds we hope to keep our audience informed when more updates are announced.

🙂 ApexTraderFunding 170M in payouts

After paying out over 71M in the last 3 months

ApexTraderFunding has began to solidify itself with traders as a credible firm with a payout track record boasting the firms success.

but how did they get here so fast?

According to Fundtraders “They have the best-converting affiliate program.”

Apex payouts out 15% monthly for the lifetime of your referred customers on all evaluation plans and resets.

Commission structure, coupled with the fact apex runs the best discounts in the futures industry (see below) its safe to say affiliate are chomping at the bit to promote apex and retain their recent referrals.

with affiliates giving the firm instant exposure that would otherwise cost millions, and the firm giving traders the best opportunity to earn commissions, its hard for Futures firms to lock down exclusive marketing promotions with partners.

and though past payouts and affiliate compensation are not indicative of future results, Apex has managed to maintain operations covering 6 figure payouts, and continuously hitting new highs.

📜 New statements released by TFT

After 6 days, TheFundedTrader has now broke silence with a new announcement for all traders detailing some statistics after the official relaunch.

Here’s what you need to know!

Progress & Statistics

Challenge Purchases since Relaunch:

• Dragon Challenge: 17%

• Knight challenge: 15%

• Rapid Challenge: 16%

• Royal Challenge: 32%

• Standard Challenge: 20%

Coupon Redemption Statistics:

• Dragon Challenge: 15%

• Knight challenge: 10%

• Rapid Challenge: 13%

• Royal Challenge: 8%

• Standard Challenge: 54%

Phase-1 Pass Rate Statistics:

• Active Accounts: 66%

• Passed Accounts: 7%

• Breached Accounts: 27%

Phase-2 Pass Rate Statistics:

• Active Accounts: 38%

• Passed Accounts: 31%

• Breached Accounts: 31%

Though these statistics are great they don’t really uncover any useful information pertaining to the continuous outstanding payouts and commitments owed to traders.

After the relaunch TFT had made commitments to donate all proceeds to charity, but TFT has not made any claims to how revenue after relaunch will help mitigate previous operational mishaps.

What do you think?

Are things turning around for tft? or are outstanding commitments owed to much to come back from?

⚖️ Compensation to TFF Traders

PropFirmMatch has teamed up with FinotiveFunding to offer5k accounts to all victims of the TrueForexFunds insolvency, including traders who did not purchase accounts through PFMatch.

With the announcment of PropFirmMatch helping to cover all victims of TFF that HAVE purchased an account through PFMatch with credits to purchase new accounts from the choice of your liking,

we urge all traders to leave the 5,000 total accounts being given away by FinotiveFunding to those who are in need.

And yes, we recognize this is a marketing stunt for FinotiveFunding to hopefully convert traders to repurchases, we want to make sure traders are being helped made whole along their funding journey.

📊 Updates to SheikAlgo Trade Copier

Tradelocker update rate limits this week for the API and Sheikalgo has not officially added TradeLocker to his Python Copier.

we hope to see cTrader added soon, and look forward to reporting on the fully functioning trade copier with latency comparisons to other copiers.

🤣 Daily Memes

Submit memes to [email protected] for a chance to win a 100k trading account every week.