Indigo Trader Funding

What happened

Indigo Trader Funding Limited was incorporated in England on 27 December 2023 and began selling prop trading evaluations in early 2024, with Lucas Thomas as president. Finance Magnates reported that it was not an independent prop firm but a promoter of evaluation challenges run by the CFD broker Eightcap.

The firm’s public activity stopped in the summer of 2024. Its last post on X was on 23 July 2024. A few days later it closed its Discord server, apologised for slow support, moved support to email and stopped taking applications for free accounts. On 12 August 2024 the company applied to Companies House to be struck off the UK register, and the first Gazette notice of the strike-off followed on 20 August.

On 20 August 2024 the firm published a statement on X saying it had ceased trading and ended all agreements and partnerships connected with its evaluation business. It said the business had not succeeded and pointed to its marketing approach, strong competition and a rising failure rate among prop firms, which it said had pushed sales towards the largest firms and made growth as a promoter unsustainable. It also apologised for weeks of poor communication about the status of active accounts.

Timeline

• 27 December 2023: Indigo Trader Funding Limited is incorporated.
• Early 2024: The firm starts operating.
• 23 July 2024: Last post on X before the closure.
• Late July 2024: Discord server closed and free account applications stopped.
• 12 August 2024: Application to strike the company off the register.
• 20 August 2024: First Gazette notice; the firm announces it has ceased trading.
• 5 November 2024: The company is dissolved by voluntary strike-off.

What it meant for traders

The firm said that remaining funds held by its operating partners would be used to refund active accounts that customers had paid for. It did not say how much money was available or when refunds would be made. In mid-August 2024, before the statement, Finance Magnates reported that it was unclear whether customers had lost money, and that at least one trader with a funded account had publicly asked the firm for an explanation.

Current status

Companies House records show Indigo Trader Funding Limited was dissolved on 5 November 2024. None of the sources listed here report a relaunch or confirm how many refunds were paid.