April Community Update Blog
April Community Update Blog
April Community Update Blog: Greetings Travelers, Traders, Knights, and Royals. April has come to a close which means it’s time for the Community Update! We wanted to fill everyone in on what’s been going on here at The Funded Trader, so we are going to go over a few key points including Company Values, Product Releases, Team Expansion, Stats & Metrics, Survey, and finally the Good News Minute.
With every Community Update, we want to reiterate some of the values of the company because they are paramount to the success of our business.
Our mission has always been to offer world-class technology, and exceptional support 24/7 support, and to become a top destination for top talent in the simulated trading industry.
Our company values reflect this mission as we value integrity and transparency with every interaction, payout, and overall discourse within the community. ‘
We are not without our issues, but we are working every day to improve on and correct what needs to be taken care of. We feel the need to give back to our community.
We constantly strive to do giveaways, opportunities to express concerns, giving back to the surrounding world.
Also, we feel this is the best way to take advantage of this blessing that we have been given as we have such a great community full of outstanding people. As a company, we are seeking to aggressively pursue excellence, and be the absolute best that we can be.
Encouraging each other in the community while heading towards a common goal. Taking ownership of one’s self and developing self-mastery requires courage to look inwards at one’s faults, habits, and routines, and get into the right mindset. This is how we can create and achieve excellence.
Eightcap Broker Partnership
We officially launched our new Broker partnership with Eightcap in April. This however came with its own set of challenges and problems. By May 14th, we should be live-funded accounts with Eightcap. This is a big deal and we are excited for our funded traders to migrate over to Eightcap once it’s fully operational.
A few server issues have come about in the past month as we rolled out Eightcap or Purple Trading SC’s Trading Platform. MetaTrader released an update that caused an outage on the servers and there were many traders who were impacted by this sudden disconnect.
We made an effort to correct all issues, so any losses that were sustained were reverted back. A special mention to a question was brought up in the discord regarding phase two of our challenge accounts simulated trading on live servers. Phase two is about ensuring a trader’s efficiency, trading plan, risk management, and overall mindset.
In conclusion, we believe the best way to gauge this type of performance is to have live conditions starting phase two, so the trader is producing their best results in the same way they would be simulated trading on a funded account.
Funded Trader Rewards Program
There are four exciting company initiatives to look out for in the coming months, the first being our Rewards Program. With the new rewards program, traders will be offered monetary rewards for trader-generated content about TFT.
The goal is to increase brand visibility while helping traders earn extra money on the side.
Next, comes TFT Trader’s Hub. The consolidation of the WordPress & Dashboard logins is the goal. This will completely enhance the user experience and bring clarity along with simplicity to the website.
Third, we have our Security Testing protocols as we want to incorporate a vulnerability program that will offer rewards to users who provide tangible evidence of bugs, loopholes, and breaches in the system.
We will launch large-scale security testing to identify any weak points and neutralize them.
Lastly, we are working on increasing our website’s performance as we look to address its speed, uptime, and optimization.
The Funded Trader Team Expansion
Team Expansion is always something on our mind as our firm grows exponentially, and we are always looking to add new members to our team. This month we have added three new team members in Victoria, Hayley, and Tori. As head of Trader Success, Victoria will dedicate her time to our 24/7 support team. She will coach, mentor, and level up our support team as she will optimize schedules and hire new team members as needed. Hayley is joining our team as an Influencer Marketing Analyst. She will focus on identifying individuals/organizations who can help grow TFT in an affiliate partnership. Tori is coming on as the video content creator. She will become the spokesperson for TFT, and grow our Instagram account as well as take over all Funded Trader Interviews. We are grateful for all of these wonderful women joining our team and look forward to their immediate impact.
To all those out there looking to join our team at The Funded Trader, make sure your resume is professional, up-to-date, and includes the relevant information, experience, and skills necessary for your desired role! This will help us out in the process of selecting new candidates to join our Funded Trader Kingdom as new opportunities arise. You are welcome to submit resumes and a cover letter to Matthew Racz, our COO, at [email protected]. We encourage you to write a professional email introduction that includes your resume, cover letter, what country you reside in, and details about why you are passionate about joining the team. Best of luck to everyone looking to join TFT.
Trading Stats and Metrics
As far as Stats & Metrics go, this month has been nothing short of remarkable. Our current number of funded trader payouts is a whopping $3,427,932. This number is up over $800,000 from $2.6m in March.
The stat that really sticks out is the average payout. Two, even three thousand sounds reasonable for a firm with a starting account size of $50,000 all the way up to $600,000 merged. Yet, our average payout is $7,700! Truly a testament to the level of skill possessed by our world-class Funded Traders.
Speaking of Funded Traders, we have 1739 Funded Accounts in Total with 518 accounts being added in the month of April. The biggest payout of the month was $54,600. Truly a life-changing sum of money, well deserved, essentially an entire year’s salary! We look forward to highlighting the astounding virtual profits achieved by our traders as bigger and bigger payouts start surfacing over the next month.
One of the metrics we wanted to highlight was the community survey conducted throughout the month of April. We asked what changes should be made to the competition, and the top answer, with 33.8%, was “requiring a stop loss.” Another feasible answer with only 9% of the vote was “no trades held over the weekend.”
Looking at these two possible changes can help make the competitions fairer in the future competitions and onward. The community was also surveyed as far as the favorite content TFT produces, and the top answer with 36% of the vote was “Funded Trader Interviews.”
The Importance of Resilience
The final topic discussed in the community update was the idea of Resiliency. What does it mean to be resilient? Some may say it’s the speed with which you come back from a loss or setback. As Matt Racz describes it, “Resilience is the ability to integrate and move through our challenges.” By looking at it through this lens, we can shift our mindset to focus on the challenge and learn from it, instead of brushing it off.
We develop mastery and excellence from being resilient. For the upcoming month, truly ponder the idea of resilience and how obstacles make us stronger. In an awe-inspiring quote, we learned that “obstacles are like popsicles, if you’re resilient, they melt away.” In all seriousness, a quote from Plotinus sums up this entire segment as we wrap up the April Community Update Blog, “Never cease chiseling your own statue.”
Thank you all for taking the time to read this Community Update. Join us next month and beyond for the latest news and updates here at The Funded Trader.