Funded Engineer: Closed since 15 Jul 2024
Funded Engineer was a Dubai-based forex/CFD prop firm that sold two-phase evaluation challenges on MetaTrader, with simulated accounts scaling up to $2M. In February 2024 its technology supplier FPFX Technologies terminated its licence, citing an alleged fraud scheme, and around the same time its broker Purple Trading suspended MT4/MT5 services, forcing 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 Propfirmmatch suspended it. On 15 July 2024 it announced an immediate, permanent closure and said it would file for bankruptcy. The former domain fundedengineer.com is now a GoDaddy parked page.
Key facts
- Status
- Closed
- Founded
- —
- Stopped trading
- 15 Jul 2024
- Former website
- fundedengineer.com/
- Trustpilot
- 3.8 · 1,222 reviews
What happened: timeline
| Date | Event | Source |
|---|---|---|
| 7 Feb 2024 | FPFX Technologies terminated its software licence with Funded Engineer, citing an alleged fraud scheme. | fxnewsgroup.com |
| 13 Feb 2024 | The firm postponed its relaunch after broker Purple Trading suspended MT4/MT5 services, moved client accounts to Blueberry Markets, and offered refunds on accounts with no drawdown above 4% (the account being surrendered); a backlog of payouts pending since 7 February was scheduled for processing. | financemagnates.com |
| Apr 2024 | The firm said funded accounts from challenges bought before 7 February were compromised and offered only Phase 1 replacement accounts, with pending payouts deferred until it regained stability; Propfirmmatch suspended the firm. | fxnewsgroup.com |
| 15 Jul 2024 | The firm announced permanent closure with immediate effect, citing financial difficulties despite restructuring, and said it would file for bankruptcy. | financemagnates.com |
| 29 Sep 2026 | The former official domain fundedengineer.com redirects to a GoDaddy parked-domain page; the firm's Trustpilot profile shows no reviews in the last 12 months. | fundedengineer.com |
What about trader payouts?
Before closing, the firm deferred pending payouts on pre-7 February 2024 funded accounts and offered only Phase 1 replacements or limited refunds (accounts with no drawdown above 4%). The July 2024 closure notice said it would file for bankruptcy and work with advisers on outstanding matters. No payout or refund amounts were given, and no public record of a later settlement for traders was found.
If you are owed money by a closed firm, keep your account statements, payout requests and correspondence, check whether the firm's terms name a legal entity and jurisdiction, and follow official announcements rather than third-party “recovery” services, which are a common scam.
Active alternatives to Funded Engineer
| # | Firm | Score | From | Per $10K | Payouts | |
|---|---|---|---|---|---|---|
| 1 |  The5ers | 4.4 | $22 | $65.80 | Bi-weekly | Visit |
| 2 |  FundedNext | 4.3 | $32.99 | $65.99 | Weekly | Visit |
| 3 |  FTMO | 4.3 | €79 | €72.40 | Bi-weekly | Visit |
| 4 |  FundingPips | 4.2 | $33 | $69.80 | Weekly | Visit |
| 5 |  Fintokei | 4.2 | $44 | $72 | Bi-weekly | Visit |
| 6 |  Hola Prime | 4.1 | $39 | $71.60 | Bi-weekly | Visit |
| 7 |  Funded Trading Plus | 4.1 | $4 | $69.80 | Daily | Visit |
| 8 |  Ment Funding | 4.0 | $250 | $86 | Daily | Visit |
Active forex firms without open warnings, ranked by our score. See also the most established prop firms and how to check a firm before you pay.
FAQ
Is Funded Engineer still operating?
No. As of September 29, 2026 its status in our records is: closed (since 15 Jul 2024). Funded Engineer was a Dubai-based forex/CFD prop firm that sold two-phase evaluation challenges on MetaTrader, with simulated accounts scaling up to $2M.
Did Funded Engineer pay its traders?
Before closing, the firm deferred pending payouts on pre-7 February 2024 funded accounts and offered only Phase 1 replacements or limited refunds (accounts with no drawdown above 4%). The July 2024 closure notice said it would file for bankruptcy and work with advisers on outstanding matters. No payout or refund amounts were given, and no public record of a later settlement for traders was found.
What are the best alternatives to Funded Engineer?
Active forex firms with the highest scores in our data: The5ers, FundedNext, FTMO.
Sources
- www.financemagnates.com/forex/breaking-prop-trading-firm-funded-engineer-shuts-d: Closure and bankruptcy announcement (2024-07-15), Dubai base, FPFX/Purple Trading background
- fxnewsgroup.com/forex-news/retail-forex/exclusive-prop-firm-funded-engineer-clos: Closure and bankruptcy filing confirmation, Dubai jurisdiction
- www.financemagnates.com/forex/funded-engineer-postpones-relaunch-shifts-to-blueb: February 2024 relaunch delay, broker switch to Blueberry Markets, refund terms, payout backlog
- fxnewsgroup.com/forex-news/retail-forex/prop-firm-funded-engineer-suspended-from: FPFX licence termination date (2024-02-07), compromised funded accounts, Propfirmmatch suspension (April 2024)
- www.fastbull.com/brokersview/news/prop-firm-funded-engineer-ceases-operations-du: Cross-check of the closure timeline
- fundedengineer.com/: Current state checked in a browser on 2026-09-29: GoDaddy parked domain
- www.trustpilot.com/review/fundedengineer.com: TrustScore 3.8 and 1,222 reviews; Dubai Silicon Oasis address confirming the official domain
Checked September 29, 2026. Found newer information? Tell us. See all closed prop firms.