Refusal to payout
I passed Elite Trader Funding’s evaluation and funded account process, traded within the rules, and built up $15,664.71 in profits on MNQ contracts.
When I requested a payout, they denied it—claiming I was “dollar cost averaging” into a trade, even though:
• Their signed agreement never mentions or prohibits dollar cost averaging
• They admitted in writing that my trades were not reckless and that I didn’t break the rule as they intended
Despite this, they offered a $2,000 payout, closed my account, and refunded my original fee. This was clearly an attempt to avoid paying what I earned.
I have all communications and documentation. Their rules are vague, inconsistently enforced, and seem designed to avoid paying out successful traders. If you’re profitable, be warned—they can deny your payout using internal criteria that you never agreed to.
I’ve filed complaints with the BBB, FTC, and state regulators. This firm should not be trusted by serious traders.
When I requested a payout, they denied it—claiming I was “dollar cost averaging” into a trade, even though:
• Their signed agreement never mentions or prohibits dollar cost averaging
• They admitted in writing that my trades were not reckless and that I didn’t break the rule as they intended
Despite this, they offered a $2,000 payout, closed my account, and refunded my original fee. This was clearly an attempt to avoid paying what I earned.
I have all communications and documentation. Their rules are vague, inconsistently enforced, and seem designed to avoid paying out successful traders. If you’re profitable, be warned—they can deny your payout using internal criteria that you never agreed to.
I’ve filed complaints with the BBB, FTC, and state regulators. This firm should not be trusted by serious traders.