BREAKING: Alpha Futures Ends Tradovate Partnership & Cancels All Premium Accounts
Alpha Futures has just released a major announcement that significantly impacts its user base. The firm is officially terminating its Tradovate partnership, forcefully migrating users to their proprietary AlphaTrader platform, and shockingly, cancelling all Premium Plan accounts - including the voiding of pending payouts.
Tradovate Partnership Terminated
Effective July 12th, the relationship between Alpha Futures and Tradovate (via NinjaTrader) has been terminated. According to Alpha, this decision came from the platform provider. Following the launch of AlphaTrader, the provider viewed the firm as operating a competing platform. After 3 months of negotiations regarding API access and fair promotion, the parties could not reach an agreement.
As a result, Alpha Futures can no longer issue new accounts on the Tradovate platform.
Premium Plans Completely Cancelled
The most devastating news for traders is the complete shutdown of the highly popular Premium Plan. Alpha stated they paid out over $25 million on this plan alone in the last two months, resulting in a "significant loss."
Because the vast majority of Premium accounts operated on Tradovate, Alpha claims it is no longer sustainable to run this plan without the platform. As a result, all active Premium Accounts will be closed and refunded.
Crucially, Alpha has stated this closure includes the cancellation of all pending and unpaid payouts on the Premium plan.
What Happens to Other Accounts?
Alpha Futures noted that they made a mistake launching the Premium plan and will be returning to their roots. If you are trading on other plans, here is what you need to know:
- Zero, Advanced, and Direct Accounts: These plans remain active. However, if you are currently on Tradovate, your account will be forcefully migrated to the AlphaTrader platform this week.
- Refunds: Traders with active Premium accounts do not need to submit a ticket. Alpha states that refunds will be processed automatically.
- Future Operations: The firm promises a return to same-day payouts and standard services via their proprietary AlphaTrader ecosystem.
We are closely monitoring this situation. Denying traders their earned, pending payouts is an extreme measure in the prop firm industry, and we urge traders to exercise caution.