FPFX Technologies, a technology provider serving proprietary trading firms, has filed a lawsuit against The Funded Trader and Easton Consulting, citing unpaid dues and breach of an exclusivity agreement.
According to the court filing, FPFX is demanding over $184,000 in outstanding payments for services delivered to The Funded Trader and Easton. The defendants had previously cited liquidity issues as the reason for non-payment.
FPFX is also seeking damages, interest, legal fees, and any further relief deemed appropriate by the court.
In addition to the unpaid dues, FPFX alleges that its agreement with The Funded Trader and Easton included an exclusivity clause, naming FPFX as their sole technology provider and barring the firms from engaging with competing vendors. The lawsuit claims that The Funded Trader and Easton violated this clause by working with another provider offering “identical or similar” technology services. The agreement reportedly includes a $500,000 penalty in the event of a breach of exclusivity.
The original agreement was signed in February 2024 by Angelo Ciaramello on behalf of The Funded Trader and Carlos Rico-Ospina on behalf of Easton.
Easton, while not a prop trading brand itself, is associated with the operation of multiple prop firms, including The Funded Trader. The current ownership structure of The Funded Trader remains unclear, following its relocation to the Cayman Islands.
As of publication, no official responses have been issued by The Funded Trader, Easton, Ciaramello, or Rico-Ospina.
This is a developing story.