Angelo Ciaramello, founder of The Funded Trader, has shut down futures prop firm Rev One Trading, citing the lack of a competitive platform needed to scale operations. The closure was announced last week via social media, with Ciaramello stating he is retiring from the prop trading industry entirely to pursue prediction market products, though no specific ventures or timelines were disclosed.
Rev One operated a subscription-based model offering simulated futures trading evaluations, with all activity occurring in a simulated environment without actual exchange execution. The firm was not registered as a broker or futures commission merchant. Ciaramello’s announcement provided no details on outstanding customer payouts, active subscriptions, or refund procedures, though the website remained live at publication.
Ciaramello previously led TFT, which suspended operations in March 2024 during an internal audit before relocating to the Cayman Islands. The firm faces ongoing litigation from FPFX Technologies over alleged unpaid fees exceeding $184,000.
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Rev One customers should immediately verify payout status and subscription obligations before the firm’s infrastructure potentially becomes inaccessible.
Source: Finance Magnates