Prop Firm MyFlashFunding to Delay Payouts for 2 Weeks

MyFlashFunding has recently acknowledged that a significant number of its traders are experiencing delays in receiving their payouts from the retail proprietary trading firm. This development has sparked considerable concern and discussion within the trading community.

A few weeks ago, it came to light that MyFlashFunding had been removed from the prop trading comparison site Propfirmmatch.com. The removal was prompted by numerous complaints from clients who reported denied payouts and adjusted accounts. According to Propfirmmatch.com, many traders had informed them of these issues, which led to the firm's delisting. In response, MyFlashFunding attributed the problems to a “data feed issue.” This issue, they claimed, created an unusually favourable trading environment, necessitating adjustments to certain client accounts and resulting in the denial of some payouts.

Blake Carter, the CEO of MyFlashFunding, has taken to social media to address the growing concerns regarding the company's commitment to fulfilling its payout obligations. In his statements, Carter stressed the importance of addressing these concerns directly and sought to dismiss the claims as baseless. He emphasized that the company remains dedicated to its traders and is actively working to resolve any outstanding issues.

Carter clarified that there was only one instance where adjustments to payouts were necessary. This adjustment affected a small group of traders due to a technical glitch. To ensure that these traders did not suffer any financial disadvantage, the firm provided full refunds and compensation. This move was aimed at maintaining trust and fairness within the trading community.

In a post on Discord, Carter explained that fewer than 50 traders were currently waiting for their payouts. He noted that the longest anyone had been waiting was two weeks, not a month as some rumours had suggested. Carter highlighted the importance of addressing these rumours and the negative perspectives related to payouts, aiming to provide clarity and reassurance to the trading community.

Furthermore, Carter acknowledged that there have been a few cases where payouts were denied due to clear breaches of the company's trading rules. He explained that these incidents were isolated and did not reflect the overall operations of MyFlashFunding. Despite these isolated incidents, Carter emphasized that the vast majority of payout requests had been honoured by the firm.

In conclusion, Carter assured traders that MyFlashFunding is committed to resolving any issues and maintaining transparency. The company is actively working to address the concerns raised and to ensure that all traders receive their due payouts in a timely manner. MyFlashFunding aims to reinforce its dedication to fair trading practices and to uphold the trust of its traders as it navigates these challenges.