The prop trading company Indigo Trader Funding, which had previously maintained silence on social media channels, confirmed today (Wednesday) that it has ceased operations and closed its business due to "failure in this business venture." Foreign media had previously reported that the company had even applied to be removed from the official UK registry.
In an announcement released today, the prop trading company stated: "Indigo Trader Funding has ceased trading and terminated all agreements/partnerships related to the operation of the evaluation model prop firm as of today."
A Planned Move, but Lacking Clarity
The official announcement was released just one day after the company name was formally removed from the company registry, with the application for removal submitted on August 12.
The prop trading company's disappearance from Discord and other social media channels only intensified customer anxiety, with one trader even claiming on social media that he had earned $27,000 in profits in his Indigo Trader Funding account and was confused by the decision to delist and the lack of communication.
The official announcement added: "We sincerely apologize for the lack of communication over the past few weeks. We recognize that this has led to a lack of clarity regarding the status of active accounts and has sparked inaccurate speculation."
The announcement further stated, "If possible, this statement should have been released earlier." However, it remains unclear what prevented the company from communicating properly with its customers.
Additionally, the latest statement details that "any remaining available funds controlled by our operating partners will be used to refund all active (paid) accounts."
Promoting Eightcap's Services
Indigo Trader Funding, which began operations earlier this year, had been promoting Eightcap's challenges. Eightcap is a CFD broker that provides services to prop firms.
The failed prop trading company added: "The combination of indigenous marketing strategies, high competition, and the rapidly increasing failure rate of companies meaning potential sales concentrated around market leaders meant that our continued growth as promoters and referrers was unsustainable."
As previously reported by Finance Magnates, Lucas Thomas served as the president of the now-closed prop trading company. He had previously founded two other companies: Thomas Forex Trading in 2021 and Woofly and L&N in 2022. However, Woofly and L&N disappeared from the market just as quickly as Indigo.
Meanwhile, several other prop trading companies have recently ceased operations. According to some estimates on social media, the future of over twenty such platforms is in jeopardy. Interestingly, Astra Capital Group has expressed willingness to acquire closed prop firms.
Reference：Prop Trading Firm Indigo Trader Funding Confirms Shutdown
