Exclusive FNG… FNG has learned that Dubai-based commercial products company Funded Engineer is delaying the restart of its services after its software licenses were terminated by technology provider FPFX Technologies last week.
FNG has also learned that Funded Engineer – in addition to reportedly switching to its own technology and platform – is changing the broker it uses for all client trades, from Purple Trading Seychelles to Australia-based Blueberry Markets.
We had reported earlier this week that Funded Engineer was aiming for a mid-week restart (i.e. Tuesday / Wednesday) amid a transition to its own in-house technology, which was supposedly months away from planned implementation. We also reported that in addition to its problems with FPFX (which it claims Funded Engineer ran a scheme to defraud it), Funded Engineer pulled out of its broker, Purple Trading Seychelles (i.e. the offshore arm of Cyprus, licensed broker CySEC Purple Trading) , and needed a new brokerage agreement for its clients.
In an updated tweet on X (formerly Twitter), Funded Engineer says it has experienced “minor delays” in migrating accounts as part of the transition to Blueberry Markets, and that service will resume “very soon.” Funded Engineer also reported that they have a number of pending payments (from customers who have already requested payment) from February 7th to today, and that a “large chunk” of payments will be going out today, along with refunds.
The tweet released earlier today by Funded Engineer reads:
Funded Engineer @fundedengineer Feb 13 3:40 pm Dubai time. Hi to all. With the ongoing issues with not issuing new accounts in the Purple prop space, we’ve experienced some minor migration delays. Moving forward, we will issue all new accounts to Blueberry Markets. Refunds will be provided to all who request and are eligible. The requirements for refunds are as follows: Your account must not be overdrawn by more than 4%. If your account is underdrawn at less than 4% and you want a refund, it will be issued. Please note that by doing so, you will lose access to the account. For those who prefer to wait, the challenge account in DD will be reset to the original opening balance at the time of purchase on launch. We have outstanding outstanding payments from the 7th to today which will start processing today. Additionally, a large chunk of payments will be released today, along with refunds. Thank you all for your patience. The service will resume very soon.