Welcome to the discussion thread for Karma Prop Traders. This firm is not listed on Propfirmmatch.com, but the forum is open for conversations about it.
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Company has or is about to cease operations. Discord is closed, the CEO dropped a message and disappeared. A shame.
Eshan Bala
— 11.08.2024 21:36
CEO message in Discord:
Hello @everyone This is a very tough conversation to have. I started Karma in order to build something transparent and sustainable. Unfortunately, there were a lot of road blocks in the way which has caused us to be unsustainable. Firstly, we were suppose to have tech ready from another provider. However, the promise to have tech ready prolonged, which drained costs for an additional 4 months unnecessarily. They ended up not delivering. I decided that tech should not be compromised, so I opted for a premium option. This was a high cost. However, I did not want to experience what happened before. Then we launched, and everything was going smooth. However, what I realised later when it became too late, was that the risk checks were not done right. All traders who passed phase 1 or phase 2 went through, and no payouts were denied in which some should have. We did not catch the cheaters that were on our system. This caused cashflow issues which has now left us with no liquidity. I started this with the motto of sustainability. However, Karma cannot continue if I do not believe it is sustainable anymore. We had interest of people to acquire Karma, but I did not think it was the right move. Most props would continue and hope for the best. However, I believe, though it is early, it is better to stop and close. We are working with props for relief accounts for the current traders at Karma. We will update you on this shortly. A small number of traders that requested a payout will be approved and be given a partial payout as an inconvenience. I know people will hate me or think negatively. However, I truly did have good intentions. Sorry to everyone involved. I wish everyone the best in their trading journey ahead.
I bought a 10k account from this firm with my savings , at was at first skeptical for buying from this firm as it was new , but as i was watching its CEO for quite some time , so i thought lets try it as seemed a legit guy, at first the firm was doing good, but it soon came to an end , and to my savings as well
I think it’s great that there’s a discount and it’s free. It’s awesome.