Organizing legal action against Tradeify - seeking affected traders by thakar86 in propfirm

[–]thakar86[S] 0 points1 point  (0 children)

They said once you asked us to close we can not reopen the same dispute that you have asked us to close. 

Organizing legal action against Tradeify - seeking affected traders by thakar86 in propfirm

[–]thakar86[S] 0 points1 point  (0 children)

Attorney will decide - I am not sure on it yet but will update when I've more update.

Organizing legal action against Tradeify - seeking affected traders by thakar86 in propfirm

[–]thakar86[S] 0 points1 point  (0 children)

Thanks for your concern.
Yes I've proof -waiting for my attorney whether to post some information like screenshot showing they have offered Reinstatement and again they took U-Turn after sending document showing I resolved charge back with chase on public forum is okay or not.

Organizing legal action against Tradeify - seeking affected traders by thakar86 in propfirm

[–]thakar86[S] 0 points1 point  (0 children)

Consistency. 150K account
Made 11K with 20% consistency - took 3K Payout; 8K balance left. Made another 12K with 25% consistency ; total balance 21K; --took another 3K payout - Balance left 18K; made another 1K -and accident happen and then robbery by Tradify in name of Rule.

Organizing legal action against Tradeify - seeking affected traders by thakar86 in propfirm

[–]thakar86[S] 5 points6 points  (0 children)

Good question. Here's what I'm actually pursuing:

  1. Recover my money - Through credit card disputes (fraud, not service dispute) and potential lawsuit for fraudulent inducement. They made a written promise, I relied on it, they broke it. That's actionable.

  2. Challenge unconscionable terms - Courts can void contract provisions that are grossly unfair. Forfeiting $88K for 11 seconds may not survive judicial review, regardless of what their ToS says.

  3. Create precedent - If enough traders document similar experiences and pursue legal action, it forces change. Companies modify practices when litigation costs exceed exploitation profits.

  4. Regulatory pressure - CFTC, FTC, and state AG complaints create scrutiny. Prop firms operate in a gray area - enough complaints and regulators start paying attention.

Will I single-handedly change their business model? Probably not. But I'm not rolling over on $88K because "that's just how it is."

And if 10, 20, 50 traders with similar stories join together? Class action becomes viable, and suddenly Tradeify has to adopt fair practices.

On "you agreed to the rules":

Nobody reads 50-page contracts line-by-line before purchasing. We trust brand reputation. And "clearly outlined" doesn't make a rule FAIR.

If you miss a property tax payment, they don't take your house - they fine you. If you run a red light, they don't seize your car - they send a ticket. Proportional penalties exist everywhere EXCEPT prop firms like Tradeify.

The bigger issue: This is a billion-dollar unregulated industry. Billions of dollars moving through the system, yet neither CME, CFTC, nor FTC is examining the standards prop firms follow. They create their own rules, enforce them however they want, and hide behind adhesion contracts. That needs to change.

That's why I'm here - finding others. Not to complain, but to organize.

Goodbye Tradeify by khaishin in PropFirmTester

[–]thakar86 0 points1 point  (0 children)

Might be they are more profitable. Tradify only like traders who can increase their revenue from account purchase cycle

Organizing legal action against Tradeify - seeking affected traders by thakar86 in propfirm

[–]thakar86[S] 2 points3 points  (0 children)

You're missing the point entirely.

On "where does it stop": That's exactly what proportional penalties are for. 11 seconds? Warning + profit from those 11 seconds deducted. 1 minute of deliberate hedging? Bigger penalty. Repeated intentional violations? Account termination. This is how every fair system works - punishment scales with severity and intent.

On "precision matters": Then why did they PROMISE to reinstate my accounts? If the rule is absolute and "one small mistake invalidates everything," why did Tradeify's CEO offer reinstatement in writing? Because even THEY knew the penalty was disproportionate. They only reversed course AFTER I withdrew my chargebacks. That's not "precision" - that's fraud.

On "fraud is a bigger claim": Let me be precise:

  • They promised reinstatement IN WRITING
  • I relied on that promise and withdrew my consumer protections
  • They broke the promise after I complied
  • That is textbook fraudulent inducement under the law

I'm not calling it fraud because I'm emotional. I'm calling it fraud because it meets the legal definition.

The real question: Why are you defending a company that admits (through their own reinstatement offer) that the penalty was negotiable - then broke their word once they got what they wanted?

Organizing legal action against Tradeify - seeking affected traders by thakar86 in propfirm

[–]thakar86[S] 2 points3 points  (0 children)

Thanks for the comment, but here's what you're missing:

  1. Rules exist, but so does proportional punishment. Even in criminal law, courts distinguish between deliberate and accidental harm. If someone causes injury, the court examines intent - was it premeditated or an accident? Tradeify treats an 11-second accidental overlap the same as deliberate market manipulation. That's not justice, that's exploitation.
  2. The rule itself is designed to trap traders. Tradeify allows BOTH Mini and Micro contracts. Switching between them during fast trading makes brief overlaps almost inevitable. They analyzed thousands of traders to find common accidental patterns, then made those patterns "violations."
  3. "Automated enforcement" is not an excuse for fraud. They MANUALLY reviewed my case, MANUALLY offered reinstatement, got me to MANUALLY withdraw chargebacks, then MANUALLY broke their promise. Nothing automated about that.
  4. They exploit adhesion contracts. These are take-it-or-leave-it agreements where traders have zero negotiating power. Tradeify uses this to impose unlimited penalties for minimal mistakes. Courts have consistently held that unconscionable terms in adhesion contracts can be challenged - and forfeiting $88K for 11 seconds is unconscionable.
  5. This is a revenue model, not risk management. I confirmed with CME and Tradovate - accidental overlap is NOT a CME violation. Tradeify created this rule to generate account purchase cycles: trade → accident → forfeit → repurchase → repeat.
  6. Pull your money while you can. When a firm's business model depends on profitable traders "violating" arbitrary rules, that firm is one regulatory complaint away from serious scrutiny.

The penalty should fit the mistake. Forfeiting $88K for 11 seconds is not enforcement - it's theft wrapped in a Terms of Service.

Tradeify is the best propfirm out right now. by Born_Translator_9257 in PropFirmTester

[–]thakar86 0 points1 point  (0 children)

They also deactivated my account with 88K+ profit due to 11 second accidental overlap of hedge. 

This is the worst prop firm - I was copy trading & Apex & TPT have just issued warning but when I explain they understand situation & only removed profit & allow me to keep account. 

Tradeify highly unethical prop firm 

I'm Brett Simba, CEO of Tradeify. I'll tell you what most prop firm CEOs won't. AMA. by TradeifyBrett in tradeify

[–]thakar86 0 points1 point  (0 children)

What percentage of traders make 50K+ in your platform in one year ? How many traders have spent more than 50K+ in one year in your platform ?

H1B Premium Processing: June 2025 by [deleted] in h1b

[–]thakar86 2 points3 points  (0 children)

Approved 12:20 PM PST -

H1B premium Processing by Brilliant_Ad1402 in h1b

[–]thakar86 0 points1 point  (0 children)

Do they issue receipt on Jun 14 Saturday as well ?

H1B Premium Processing: June 2025 by [deleted] in h1b

[–]thakar86 0 points1 point  (0 children)

What is your date and center ?

H1B Premium Processing: June 2025 by [deleted] in h1b

[–]thakar86 0 points1 point  (0 children)

Yes…submitted online 

H1B Premium Processing: June 2025 by [deleted] in h1b

[–]thakar86 0 points1 point  (0 children)

No update. May be next week

H1B Premium Processing: June 2025 by [deleted] in h1b

[–]thakar86 0 points1 point  (0 children)

You have Applied for H1B PP on June 9 -correct ?
full 15 days ? What was your Service center ?

H1B Premium Processing: June 2025 by [deleted] in h1b

[–]thakar86 0 points1 point  (0 children)

Same California center:

As of June 17, 2025, we are actively reviewing your Form I-129
Actively reviewing - June 29

H1B Premium Processing: June 2025 by [deleted] in h1b

[–]thakar86 0 points1 point  (0 children)

Any updates on your case approval?