GM Lark Traders. This is Lark Digest, and we help you navigate the world of prop trading. We’re like Waze - We get you up to speed quickly and make sure you slow down when there’s a “Prop Scam Reported Ahead.”

—Mr.Lark

On today’s menu:

• What’s next for the prop firm world? 🤔 

• DEI Funded “fires” its CEO ❌ 

• CTrader is live 🚀 

👀 What’s Next For The Prop Firm World?

Remember when there used to be 30-day time limits for challenges?

I do, and boy, it seemed like simpler times.

With The Funded Trader and its sister company, Skilled Funded Traders, both ceasing operations last week, thousands of traders have since been left out in the cold.

Many questions remain:

1. Will refunds be provided?

2. Will payouts be honoured?

3. Are they ever going to come back?

4. What actually happened behind the scenes that led to this?

5. What’s next?

Well, we want to take a look at that last question.

1/ A Massive Drop In Trust

Let’s be real - How can anybody trust a firm now?

Three very well-known influencers owned Skilled Funded Traders. Traders signed up with them because they trusted them.

But that’s now all gone.

If you can’t trust your favourite influences or one of the biggest firms in the industry (TFT), how can you trust anyone?

It’s the exact question that thousands of traders are now asking themselves.

And it’s one that I don't have an easy answer to.

But like the great Charlie Munger, we prefer to invert the question.

Instead of asking who should we trust? How do we know who to trust? Flip the question.

If you wanted to ensure that you got scammed and never received a payout, what would you do?

1. Sign up for a brand-new company with no track record.

2. Join a company just because influencers are behind it.

3. Go for the cheapest and easiest challenge.

4. Join the loudest firm on social media.

5. Don’t look for professionalism.

So now, by doing the opposite, you know you’ll be far better off.

But what if it’s already too late? What about the traders that are already impacted by all of this?

2/ The Wait For Refunds

All traders from TFT and SFT are waiting for one thing and one thing only: refunds.

Well, actually, there are also a ton of traders waiting for payouts, but that’s VERY optimistic thinking.

Omar from SFT recently posted this.

We hope this gets sorted soon, but this isn’t the only thing that’s up in the air…

3/ Will The Funded Trader Return?

Even amongst all of this chaos, Angelo, the CEO of TFT, is claiming that once payouts are processed, traders will be able to fight for the company “publically.”

Is that actually ever going to happen?

We’ll let you decide, but if you thought receiving a refund was optimistic, this is next-level go-get-it attitude.

What’s that line?

Fool me once, shame on you. Fool me twice, shame on…?

4/ The Model Is Changing

When we launched on June 1st, 2022, we only offered 10:1 leverage.

At Lark we don’t have:

• The cheapest challenges.

• The easiest programs.

• The highest leverage.

And that’s because of sustainability.

You see, traders love easy challenges that are affordable.

But easy means gamblers can pass.

And it’s these gamblers, the type of trading activity that doesn’t include risk management and is all about going balls-to-the-wall (excuse the language), that create a huge problem for firms.

Here’s the deal:

• Firms have accepted this type of trading behaviour in the past because it leads to many failed challenges.

• This type of trading activity rarely leads to payouts, but when it does, they are huge.

• The fundamental problem, however, is that this type of trading data is useless. A firm can’t utilize it.

And that is where things must change.

For a firm to be sustainable, they need to look for traders.

Not gamblers.

It’s the only way to create a harmonious relationship between both the firm and the trader.

To achieve this, firms must think long-term, and traders cannot just go for the easiest or cheapest challenge.

The industry depends on it.

CTrader Is Live! 🚀 

This week, we launched CTrader, which is now available to all non-US traders.

The platform is incredible.

It lets you:

• Easily calculate your position sizes.

• Chart directly within the platform.

• Get email alert notifications.

Just check out this quick demo.

If you have any questions about the platform, just reply to this email!

😬 DEI Funded “Fires” Its Vice President

Another day, another prop firm soap opera.

This edition, however, includes so many complaints about payout denials and social media drama that the “Vice President” was fired.

Or was he? 👀 

1/ How It Started

The company was run by Brin, AKA Moneybrinter, on Twitter (not a great start to this story).

Brin was consistently getting into fights on social media and causing all kinds of noise.

Example 1:

Example 2:

If you think this isn’t a great look for the “Vice-President,” you would be right.

I mean, what could possibly go wrong…

2/ Tons of Payout Denials

For the last couple of weeks, DEI Funded’s payout denials have been on the rise, and they were even delisted from Prop Firm Match.

And that’s how we find ourselves in our present situation.

A situation of traders complaining all over social media that they’re not receiving their payout.

3/ Did Brin Fire Himself?

Well, that’s pretty much the word on the street.

If Brin was in charge of DEI’s Twitter account, then many online are saying that he just fired himself.

But how does that make any sense?

To be honest, the official Lark Breakdown is that things are a mess.

And once again, it’s traders that are left in the dark waiting for either a refund or a payout.

You can see the latest update from their CEO here.

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