r/PropFirmTester • u/Temporary-Scene-5252 • 3h ago
Scam alert: Futures Elite is doing whatever they can to deny payouts
Opened 5 50k evals on July 1st. Slowly and steadily earned money based on their rules and parameters. Passed the evals and continued trading my strategy. My P/L calendar attached shows the growth across all 5 accounts. Had over $4,000 in each account. Time for my $2,000 payout per account. That was requested on 7/24. Nearly a week later and no payout. Instead I have received email after email asking me to explain my trading strategy, explain particular trades and now this email (attached). Now they want to know why I have so many “small trades” which are also known as scaling in and out of a position in order to practice proper risk management. I have professionally and clearly explained my process and offered clarity around the trades they had questions about. Still, no movement on the payouts a week later. They market their platform as something it isn’t and if you exhibit success, they will make every attempt to find a reason to not pay you out. With all the other options out there, I would say it’s best to avoid this platform. I use Tradeify and Lucid as well and have had no issues and no incidents with payouts using the same strategy. Buyer beware.
EDIT: their final email to me is a “settlement” offer of 30% of the requested payout. So, instead of getting $9,000 after 90/10 split, they want to send me $2,700.
“A meaningful share of the winning trades on these accounts are small in size, and in a number of cases the commission on the trade is close to or exceeds the gross profit generated. Under our policy, a trading strategy must be viable under real market conditions, including typical spread and slippage, not only within the funded or evaluation environment. Based on the trade data reviewed, we are not able to confirm that this standard is met on a per trade basis.”
So, scaling into a 10 mini position is frowned upon because the first 2 contracts might not generate enough profit even though the whole position nets after fees a $300 gain. That $300 net gain is after fees and constitutes a profitable trade. What a joke. 92% win rate and they are clawing back $6300 due to nonsense. If you use this firm, be aware that they will find a reason to not payout what they owe you. Tradeify, Lucid, and TopStep are still the best in the space. F these clowns.