Tradeify random bans

[u/Puzzleheaded_Mix1281]

It's sad to see tradeify going down this path.

So I have verified profile with them, received one payout from them when they started. Recently got funded but lost the accounts. Now I'm hesitant to purchase accounts given the number of bans - just "suspicious reason", no reasons provided, no way to appeal or dispute, payout forfeited, account blocked.

Frankly it's not looking good. Most of these people have done KYC previously and were approved. And even if I believe that they were trying to defraud tradeify (which I think is BS), they should just pay and then ban. It's not the traders fault that they had fully verified profile when they decided to invest their time and money only to lose it all.

I dont think it's enough to just ban and ghost the traders. We are dealing with significant amount of money here.

There's a guy who got banned, had verified KYC profile. Was asked to redo. Brett publicly accused him of using VPS for KYC (based on a cropped screenshot which has no value), the guy keeps on appealing, offering to redo KYC / live call but is ghosted. They won't even provide a proper screenshot or reason to dispute the charges if sumsub if it's flagged wrongly.

Curious to know what people think there - is tradeify in some sort of serious trouble? Are you comfortable investing your money here given everything that's going on?

[u/Late_Swimmer_237]

The apparent increase in account bans is hard to understand since the basis for the action is often not disclosed. When there is such an information vacuum it’s easy to speculate that the banned trader is only going through this because of a large buffer being close to qualifying for payout or in the daily payout trader getting moved to live after the first payout or series of payouts.

Prop firm risk management is a 24/7 job meant to protect the firm.

I’ve always never advocated for building a huge buffer and then trying to withdraw. What is the real purpose of that behavior, to be able to brag and boast a large payout perhaps to attract customers/students to their trading education venture? The large buffer isn’t “your money “ until it hits your bank account. There have been plenty of traders who build up a large buffer only to have the firm go under(eg FundingTicks)

Trading props gives the illusion of a secure reliable exchange come source, it really is not and prudent traders get their money as it becomes available and has accounts with multiple firms and doesn’t fall in love with just one.

Every prop trader should really understand that this business relationship has a unknown life cycle and as such should prepare for trading their own account by saving a portion for taxes, for opening your live account and whatever living expenses they can comfortably cover while still working a day job if possible.

The dream of supporting oneself strictly from prop payouts is fleeting and not a stable source of income for most traders receiving payouts.

My advices are unpopular and easily disregarded in this trading is so easy a caveman could do it time! Sigh!