Funded Engineer review

Funded Engineer's technology provider FPFX terminated its licence in February 2024 over allegations of fake accounts and a fictitious $2 million payout, and its broker fell to the same MetaQuotes crackdown that hit other firms that year. The firm filed for bankruptcy in July 2024; the domain is now an empty GoDaddy parking page.

Last verified 19 October 2026 · how we check

Funded Engineer’s own technology supplier accused it of fraud five months before the firm admitted it was out of money. The sequence runs from a platform provider’s fraud allegation in February 2024, through the loss of its broker in the same MetaQuotes crackdown that hit other firms in 2024, to a bankruptcy filing that July. The domain today is an empty page GoDaddy parks for free.

Who FPFX is, and what it says happened on 7 February 2024

FPFX Technologies isn’t a small outside auditor. By its own account it has powered more than 150 prop firms, with over $1 billion in challenge fees sold through its platform and more than 2 million trading accounts created; it sits under the same parent company, Game 7, LLC, as PropAccount.com and the trading-contest site BullRush.com. A provider of that size terminating one client’s licence is a bigger signal than an outside reviewer raising the same concern, because FPFX had the firm’s own back-office data.

On 7 February 2024, FPFX announced “the termination of the license agreement and all associated services provided to Funded Engineer,” describing the decision as following “a period of evaluation and consideration by FPFX Tech’s leadership.” FPFX’s CEO, Justin Hertzberg, put the reasoning more bluntly elsewhere: “It is disheartening that a firm like Funded Engineer would engage in activity that would appear to defraud FPFX Tech.” These are FPFX’s allegations against a firm it had contracted with, not an adjudicated finding, and they’re worth reading as one party’s account of a commercial dispute rather than a settled fact. The specifics FPFX cited in its audit were concrete: Funded Engineer allegedly “manually created fake trading accounts” that “received instant funding without passing the compulsory 1-step or 2-step prop firm evaluation,” alongside wash trading and bypasses of AML/KYC checks through admin access. FPFX’s central figure was a claim that Funded Engineer “misrepresented a fictitious payout of over $2 million dollars,” partly through cryptocurrency payments that didn’t correspond to real blockchain transactions.

The broker loss that followed

Funded Engineer’s broker, Purple Trading, lost its MetaTrader access in the same wave of MetaQuotes platform terminations that hit SurgeTrader and True Forex Funds in 2024. The firm said at the time that it had secured its own MetaQuotes and forex licensing to keep operating outside the US. Losing a technology licence over fraud allegations and losing a broker to an industry-wide platform crackdown are two separate problems; Funded Engineer was dealing with both inside the same several months.

The close, 15 July 2024

Funded Engineer announced the end in its own words: “Despite our extensive efforts to improve our financial situation, we have been unable to overcome the challenges we faced, necessitating the cessation of all operations effective immediately.” The firm said it had tried “strategic restructuring, cost-cutting measures, and seeking additional investment” first. The announcement confirmed a bankruptcy filing the same day, and told traders that outstanding claims would be handled through that process, which it warned could take years to resolve.

The sequence, dated

What the domain shows now

fundedengineer.com is parked by GoDaddy for free, checked today: no notice, no bankruptcy update, no contact address, just a placeholder page offering the domain for purchase. Whatever the bankruptcy process has done since 2024, it left nothing on the firm’s own address to show for it.

Which register would even apply

Funded Engineer sold evaluation accounts on simulated balances, the same structure covered in futures prop trading firms, which is why it never carried an ASIC or CySEC licence to check. The dispute that actually took it down ran through its technology provider and its broker, not through a financial regulator, and a bankruptcy filing is a matter for the court handling it, not a register we hold.

If you had a claim against them

The bankruptcy process is the only formal channel, by the firm’s own statement, and it told claimants to expect years, not months.

FPFX’s allegations don’t change what a trader is owed, if anything. Whether the firm defrauded its own technology provider is a separate question from whether a given funded trader’s payout was legitimate; don’t assume one answers the other without your own account records.

Treat recovery outreach the same way as any other closed firm. See forex scam recovery for what a genuine claims process looks like against what a recovery scam offers. A bankruptcy case draws exactly the kind of attention recovery scammers look for, because claimants are already registered somewhere and already waiting for a payment that takes years.

Two allegations, not one, and they point in different directions

It’s worth separating what each party was accused of, because they aren’t the same claim. FPFX’s allegations describe Funded Engineer as the operator defrauding its own infrastructure provider, fabricating accounts and payout figures on its own system. Trader complaints that surfaced separately described the opposite direction: traders who believed they’d earned real payouts not receiving them. Both can be true at once: a firm manufacturing fake funded accounts to inflate its own numbers, as FPFX alleges, and a firm that then couldn’t or wouldn’t pay real traders when the inflated picture collapsed, are consistent with each other rather than contradictory. Whether FPFX’s allegations are entirely accurate isn’t something this page settles; what’s verifiable is the order itself, FPFX’s termination first, the broker loss after, the bankruptcy filing last.

Sources

• Finance Magnates — Prop trading firm Funded Engineer shuts down, 15 July 2024
• FX News Group — Funded Engineer closes, files for bankruptcy
• FundingTraders — FPFX terminates Funded Engineer's licence, CEO statement and audit claims
• fundedengineer.com — parked, no content, checked 19 October 2026
• Finance Magnates — FPFX Technologies revokes licence of Funded Engineer, 7 February 2024