👀 Alpha Futures reverses course on cancelled payouts

Hi everyone, another week is upon us and the markets are open, so lets get into it.

After Alpha Futures announced last week that it was “cancelling all pending payouts and refunding all traders” on the Premium plan, the firm has now reversed part of that decision.

Alpha announced that it will pay all Premium plan payouts that had already been approved, stating:

“We want to publicly announce that all of you in ‘approved for pay’ on Premium Plans will be paid.”

This does not cover everyone still waiting for a payout, but it is a better situation than first announced.

More information has also come to light about what caused the issue. Futures trading platform Tradovate ended its partnership with Alpha and publicly stated that Alpha was in breach of its agreement, with outstanding balances more than three months past their due date.

Alpha responded that it had paid the invoices. However, there appears to be a disagreement over a portion of the balance that Alpha considered to be a credit, but Tradovate clearly did not.

All the details are available in the X post below.

Alpha signed off by saying:

“Our termination was due to an unhealthy relationship rooted in our development of AlphaTrader, as was detailed to us in our termination.”

Let’s see what this week brings.

📢  Firm Announcements

• FundedNext launched MCP (Model Context Protocol) integration, allowing traders to connect AI assistants such as Claude and ChatGPT directly to their accounts for real time information on rules, drawdown, payouts and challenge progress. The firm also introduced bank transfer payouts, added a new Rapid Daily Futures evaluation with one day passes and daily payouts, and expanded payout options.

• FundingPips unveiled major upgrades to its PRIME program, including multiple daily rewards, faster scaling, protected allocations after breaches, institutional coaching, exclusive support channels, and monthly performance rewards of up to $20,000.

• Phidias Prop Firm expanded its Express to Live program to Tradovate, NinjaTrader and TradingView, allowing traders to progress from signup to payout in a single day before transitioning to a live funded account.

From Payout Junction, here are the firms that paid out the most over the last 7 days 🏆️.

🔥 Monitor prop firm payouts LIVE on Payout Junction - https://payoutjunction.com.

🕜 Red Folder News

Here are this week’s red folder news events. It is a very quiet week on the economic calendar, with developments in the Middle East likely to remain the main catalyst for markets.

📈 Markets

Risk off - back to Fear

It was a sizeable down week for equity markets, with a distinctly risk-off feel as market sentiment moved back into fear.

The sell-off was led by technology stocks, with the Nasdaq 100 closing more than 4% lower for the week.

Biggest tech selling on record

Goldman Sachs noted that activity across its Prime book, which covers institutional clients, showed the largest amount of technology stock selling ever recorded last week.

Semiconductors rolling over?

This is something I’m watching closely this week.

Semiconductors were a major catalyst behind the technology rally that began in April. If the sector continues to reverse, expect further pressure on the Nasdaq 100..

OK, you’re all caught up. Have a good week!

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