Funded Engineer

What happened

Funded Engineer was a Dubai-based firm that sold evaluation accounts to retail forex traders. It used software from FPFX Technologies under an agreement signed in June 2023. On 7 February 2024 FPFX ended that agreement. FPFX said an audit in January 2024 had uncovered a scheme lasting several months, and alleged fake trading accounts, wash trading, overridden identity checks and overstated payout figures. Funded Engineer said it had been surprised by the termination, that it took the allegations seriously, and that because the matter had become a legal case it could say little in public.

The firm tried to carry on. In February 2024 it announced account migrations and rule changes, said pending withdrawals would be paid in full, and offered refunds to traders who chose to opt out. In April 2024 FinanceFeeds reported that FPFX had sued Funded Engineer and two men it alleged controlled the firm, Tristian Talbot and Harri Jean David Sawicki, in Palm Beach County, Florida. FPFX estimated its lost revenue at about $700,000.

On 15 July 2024 the firm replaced its website with a notice announcing its permanent closure with immediate effect. It said efforts at restructuring, cost-cutting and finding new investment had not succeeded, and that it would file for bankruptcy and work with advisers on outstanding matters.

On 13 May 2025 the Palm Beach County Circuit Court entered a judicial default against Funded Engineer, Talbot and Sawicki after they did not respond to the case (case 50-2024-CA-003838), according to FinanceFeeds. FPFX’s chief executive said the company was still owed close to $1 million and would seek to enforce the judgment.

Timeline

• 2 June 2023: Software agreement with FPFX Technologies signed.
• 7 February 2024: FPFX terminates the agreement, alleging fraud.
• February 2024: Firm announces account migration, rule changes and refunds on request.
• April 2024: FPFX’s lawsuit in Palm Beach County, Florida, is reported.
• 15 July 2024: Firm announces permanent closure and a planned bankruptcy filing.
• 13 May 2025: Court enters a judicial default against the defendants.

What it meant for traders

After the February 2024 migration, traders who stayed had accounts reset or adjusted under the firm’s new terms. The July 2024 closure ended all remaining accounts. The closure notice apologised for the inconvenience but did not describe refunds or how unpaid payouts would be handled, and none of the sources listed here report any later payments to traders.

Current status

Funded Engineer is closed. The sources listed here do not give details of the bankruptcy filing the firm said it would make.