In a shocking announcement, Fundedlions has paused its operations after facing significant technical challenges since its launch. The prop firm initially had to migrate over 1,200 accounts from MetaTrader 5 to cTrader when MT5 ceased supporting prop firms. However, after this rapid and successful transition, Fundedlions encountered a severe setback: the loss of client data due to problems with the brokerage.
Despite their tireless efforts over three weeks to recover and migrate 2,000+ accounts from scratch, residual data issues remain. Consequently, the firm has made the difficult decision to temporarily halt operations while they work toward a stable, long-term solution to ensure smoother operations in the future.
Refunds and Client Compensation
Fundedlions has assured its clients that their money is safe and that refunds will be issued for all active accounts based on their current balance.
- For accounts with a drawdown, such as a $10K account with 5% drawdown (leaving $9,500 equity), clients will receive 50% of the original purchase back.
- For accounts with positive equity, such as a $10K account with $10,500 in equity, traders will receive a full 100% refund plus any gains, amounting to a 150% payout.
Refund Process and Conditions
To process refunds, clients are required to email their USDT (TRC20) wallet address and MT5 or cTrader account number to refunds@fundedlions.com. If the account was purchased through an affiliate, clients are asked to include the affiliate’s name and payment proof. Refunds will be processed within 1-14 days.
It’s important to note that accounts inactive for 30 days or with over 80% of the drawdown limit are ineligible for refunds. For instance, if your drawdown limit is 8% and you have reached 6.4% (80% of 8%), a refund won’t be issued.
Moving Forward
While the decision to pause operations is disappointing, Fundedlions remains committed to resolving these issues and providing a stable trading environment in the future. Traders should monitor further updates from the firm as they work toward resuming operations.