Red flag · bankruptcy, payouts unresolvedForex / CFD · Dubai · closed July 2024
Funded Engineer
14 / 100 · 50% verified
Why this zone
Red: it closed and went into bankruptcy without settling pending payouts, and traders lost access to their accounts. Its technology supplier had already cut it off, citing allegations of fraud.
In short
A Dubai challenge firm that closed 'effective immediately' in July 2024 and said it would file for bankruptcy. Its notice did not address pending payouts, and traders lost access to their accounts. Earlier in 2024 its technology supplier revoked its licence, citing allegations of fraud.
Firm details
- Website
- fundedengineer.com (closed)
- Base
- Dubai, UAE
- What you traded
- Forex and CFDs
- Closed
- July 2024
- Bankruptcy
- Announced by the firm
- Tech supplier
- FPFX revoked licence, Feb 2024
Closed
July 2024
filed for bankruptcy, its own notice
Pending payouts
not addressed
left to bankruptcy proceedings
Tech supplier
cut it off
over 'allegations of fraud' (Feb 2024)
Account access
none
after the closure
Score by category
Whose money (35%)5
Simulated challenge firm.
Real risk (25%)no data · counted as 50
Rules no longer published.
Trading as a job (15%)0
Closed.
Do they pay (15%)0
Pending payouts not addressed; traders lost account access.
Price and fair rules (10%)0
Licence revoked by its tech supplier over alleged fraud.
Strengths
- None we could find
Watch out for
- Closed 'effective immediately' and filed for bankruptcy
- Pending payouts not addressed
- Technology supplier FPFX revoked its licence over alleged fraud
- Delisted by PropFirmMatch over compromised funded accounts
Who it fits
Fits: nobody — the firm is closed.
Doesn't fit: anyone.
Access: closed.
Remember the one rule
Simulated account after you pass = you trade against the firm.
Real account with real money = your profit is its profit.
Last changes
Closed. We keep this page so traders can check what happened.
Disclosure: no relationship. No affiliate links on red-zone firms.
Sources: Finance Magnates (15 Jul 2024), FX News Group (15 Jul 2024) · Checked November 2026. The firm can send corrections.