👀 Alpha Futures sues Tradovate and NinjaTrader

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

The fallout between Alpha Futures and Tradovate/NinjaTrader has now moved into the courts.

The dispute began last month when Tradovate ended its partnership with Alpha, forcing traders onto AlphaTrader. Alpha initially cancelled pending Premium Plan payouts before later agreeing to pay those already approved (although many are still waiting), while Tradovate said Alpha had breached its agreement and owed balances more than three months overdue.

Alpha is now suing Tradovate and NinjaTrader, alleging it was promised 90 days notice but instead had access cut off over a single weekend. It also disputes the reported $225,700 overdue balance and claims Tradovate used Alpha client information to encourage traders to move to competing firms.

These are Alpha's allegations and have not yet been tested in court. Good thread on this below:

📢  Firm Announcements

• Apex Trader Funding brought NinjaTrader and Tradovate back online, alongside upgraded risk controls and features including Account Lockout.

• FundingPips launched its Trade Copier in open beta, allowing traders to copy trades between FundingPips accounts, other prop firms and brokers. The beta is free for the first 3,000 users.

• FundedNext launched its second Labs experiment, FNL:002, a 25K 2 Step challenge with 12% max loss, 4% daily loss, static drawdown and payouts every three days.

• Breakout expanded its 24/7 markets, with the S&P 500, XYZ100, Bitcoin and Ethereum now available to trade around the clock, including weekends.

• Lucid Trading made its Daily Loss Limit optional, allowing traders to choose Flex, Pro or Daily accounts with or without a DLL.

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. A quiet week on the calendar, with US GDP and PPI (inflation) on Thursday the biggest events of the week.

📈 Markets

Greed…finally

A huge up week for the equity markets. With most of the money pouring into tech stocks, Nasdaq was 4% up on the week. Its been a long time since we had a market sentiment reading of greed, but here we are, its going to interesting to see if we can sustain this and finally breakout or if the chop will continue.

Imploding fear

VIX (Volatility Index aka The Fear index) is back at its lowest levels since mid-January, but the real fear reset has been in tech, where volatility has collapsed even more aggressively.

Tech inflows - some context

Cumulative tech inflows by year. 2026 is not even complete, and the inflows are insane.

Hyperscalers free cash flow

As trillions get poured into AI hyperscalers its worth remembering that these companies are literally pouring all of the free cash into AI and AI infrastructure. If we get a black swan event in this sector, to say that these companies are exposed would be an understatement.

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

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