Rev One Trading, the futures prop firm started by The Funded Trader founder Angelo Ciaramello, has shut down. Ciaramello said in a post on X on August 21 that the firm closed the week before, and he blamed the trading software it was able to offer, according to Finance Magnates. Traders who bought its evaluations were given no public plan for open subscriptions or pending payouts.
Why the firm says it closed
The reason Ciaramello gave was platform access. Rev One “did not have a top platform option which hurt our ability to scale”, he wrote in the August 21 post reported by Finance Magnates. In the same post he said he is leaving prop firms to work on prediction-market products. He named no product and gave no timetable.
That account comes from the founder and from secondary reporting of his post. No separate statement from the company has been reported.
What Rev One sold
The firm sold one-step evaluation accounts on a subscription model, and its site said all activity on them was simulated, Finance Magnates reported. An evaluation is a paid service: the trader pays a recurring fee for access to a simulated account and trades to a target under the firm’s rules.
The firm had been working on its platform list. Its LinkedIn page said in July that it was adding DeepCharts, ATAS and Quantower through Volumetrica, according to Gate News. Weeks later the founder named platform access as the reason for closing.
What was not said
The closure announcement gave no information on active subscriptions or outstanding payouts, Gate News reported. Nothing in the available reports covers refunds, a payout deadline or how a trader with an open request should proceed. Those points are unresolved rather than settled.
What traders with an account should check
A subscription firm bills until the charge is stopped, so the first thing to check is the payment method or store that carries the recurring fee for the account. The second is records: account statements, the dates and amounts of any payout requests, and payment receipts, kept as they are rather than relied on from the firm’s dashboard.
For anyone choosing a next firm, the stated reason here is worth reading literally. Ciaramello tied the closure to which trading platform the firm could offer, not to trading results at the firm.
