What Happened to Funded Engineer?
Funded Engineer is closed down as of 15 Jul 2024. Funded Engineer was a Dubai-based forex/CFD prop firm that sold two-phase MetaTrader evaluations on simulated accounts. In February 2024 its technology supplier, FPFX Technologies, ended its software licence. FPFX accused the firm of a months-long scheme of fake accounts, wash trading and fictitious payouts; the firm did not answer a press request for comment at the time. Broker Purple Trading suspended MT4/MT5 services at about the same time, which forced a delayed relaunch on Blueberry Markets. In April 2024 the firm told traders that funded accounts from challenges bought before 7 February were compromised, and a prop firm comparison site suspended its listing. On 15 July 2024 it announced an immediate, permanent closure and a plan to file for bankruptcy. Its old domain, fundedengineer.com, now shows a GoDaddy parked page.
Funded Engineer at a glance
- Current status
- Closed down
- Launched
- —
- Ceased trading
- 15 Jul 2024
- Old website
- fundedengineer.com/
- Trustpilot
- 3.8 · 1,222 reviews
Funded Engineer timeline
| When | What happened | Source |
|---|---|---|
| 7 Feb 2024 | FPFX Technologies ends Funded Engineer's software licence, accusing the firm of fake accounts, wash trading and fictitious payouts | financefeeds.com |
| 13 Feb 2024 | Broker Purple Trading suspended MT4/MT5 services, so the firm delayed its relaunch and moved client accounts to Blueberry Markets. It offered refunds on accounts with no drawdown above 4%, with the account surrendered. Payouts pending since 7 February were put on a processing schedule. | financemagnates.com |
| Apr 2024 | Funded accounts from challenges bought before 7 February were declared compromised. The firm offered only Phase 1 replacement accounts and deferred pending payouts until it regained stability. A large prop firm comparison site suspended its listing. | fxnewsgroup.com |
| 15 Jul 2024 | Pointing to financial difficulties despite restructuring, the firm closed permanently with immediate effect and said it would file for bankruptcy. | financemagnates.com |
| 29 Sep 2026 | fundedengineer.com, the old official domain, now redirects to a GoDaddy parked-domain page. The firm's Trustpilot profile has no reviews from the last 12 months. | fundedengineer.com |
Were traders paid?
Payouts still pending on funded accounts from before 7 February 2024 were deferred before the firm closed. Instead of paying them, it offered only Phase 1 replacements or limited refunds, for accounts with no drawdown above 4%. The July 2024 closure notice said the firm would file for bankruptcy and work through open matters with advisers. It gave no payout or refund amounts. We found no public record of any later settlement for traders.
Still waiting on money from a closed firm? Save your account statements, payout requests and every message. Look up the legal entity and jurisdiction named in its terms, and rely on official announcements. Third-party “fund recovery” services are a frequent scam.
Live firms to use instead of Funded Engineer
| # | Firm | Score | From | Per $10K | Payouts | |
|---|---|---|---|---|---|---|
| 1 |  FundingPips | 4.5 | $33 | $69.80 | Weekly | Go to site |
| 2 |  FundedNext | 4.4 | $32.99 | $65.99 | On request | Go to site |
| 3 |  The5ers | 4.3 | $22 | $65.80 | Every 14 days | Go to site |
| 4 |  Finotive Funding | 4.3 | $25 | $96.90 | Weekly | Go to site |
| 5 |  Equity Edge | 4.2 | $15 | $57.40 | Every 14 days | Go to site |
| 6 |  Atmos Funded | 4.1 | $28 | $56.70 | On request after 7 profitable days | Go to site |
| 7 |  Hola Prime | 4.1 | $39 | $77.40 | Every 14 days | Go to site |
| 8 |  FXIFY | 4.1 | $19 | $75.80 | Every 10 days | Go to site |
Operating forex firms with no open warnings, sorted by our score. You may also want our list of long-established prop firms and our guide to vetting a firm before paying.
Funded Engineer: common questions
Is Funded Engineer still in business?
No. Our records list it as closed down since 15 Jul 2024, checked on September 29, 2026. Funded Engineer was a Dubai-based forex/CFD prop firm that sold two-phase MetaTrader evaluations on simulated accounts.
Were Funded Engineer traders paid?
Payouts still pending on funded accounts from before 7 February 2024 were deferred before the firm closed. Instead of paying them, it offered only Phase 1 replacements or limited refunds, for accounts with no drawdown above 4%. The July 2024 closure notice said the firm would file for bankruptcy and work through open matters with advisers. It gave no payout or refund amounts. We found no public record of any later settlement for traders.
Which firms are good alternatives to Funded Engineer?
The top-scoring live forex firms in our data are FundingPips, FundedNext, The5ers.
Where the facts come from
- financefeeds.com: what FPFX alleged in February 2024 and the firm's lack of comment
- financemagnates.com: Announcement of closure and bankruptcy (2024-07-15), the Dubai base, and the FPFX/Purple Trading background
- fxnewsgroup.com: Confirms the closure and bankruptcy filing, and the Dubai jurisdiction
- financemagnates.com: Relaunch delayed in February 2024: move to broker Blueberry Markets, refund terms and the payout backlog
- fxnewsgroup.com: a comparison site suspending the firm over compromised funded accounts (April 2024)
- fastbull.com: Second source for the closure timeline
- fundedengineer.com: Browser check on 2026-09-29 showing a GoDaddy parked domain
- trustpilot.com: 1,222 reviews with a 3.8 TrustScore, plus a Dubai Silicon Oasis address that confirms the official domain
Last reviewed September 29, 2026. Have more recent news? Let us know. Browse the full list of prop firms that closed.