Abstract
Propiy, an Iranian prop trading firm launched in 2021, captivated over 15,000 traders with promises of up to $1 million in trading capital and 90% profit splits. Its Persian-language support and diverse trading challenges made it a go-to choice for Iranian traders. However, recent issues—delayed profit payouts, unfair profit rejections, and sudden rule changes—have shattered trust. This article, written from the traders’ perspective, explores Propiy’s rise, its failures, and the toll on the trading community.
Introduction
For Iranian traders, prop firms represent a rare opportunity to access global markets despite financial and regulatory barriers. Propiy entered the scene with bold promises: trade with significant capital, keep most of your profits, and do so risk-free. Initially, it delivered, but recent developments—delayed payments, rejected profits, and opaque rule changes—have left traders feeling betrayed. This investigation dives into Propiy’s journey, focusing on the traders’ experiences and the challenges they now face.
Propiy’s Peak: Promises That Won Traders’ Hearts
Founded in 2021, Propiy aimed to empower Iranian traders with access to international markets. Its offerings were tailored to resonate with its audience:
- Diverse Trading Challenges: Accounts ranging from Starter ($5,000) to Champion ($50,000) with flexible timelines.
- High Profit Splits: Up to 90% of profits for successful traders.
- Persian Support: 24/7 customer service in traders’ native language.
- Simulated Environment: A risk-free platform to test strategies.
- Educational Resources: Videos and guides to enhance trading skills.
By mid-2024, Propiy had attracted over 15,000 traders, earning praise for its dedicated servers and seemingly transparent rules. Social media buzzed with success stories, and Propiy became a symbol of hope for aspiring traders.
The Downfall: Traders’ Struggles Begin
Starting in early 2024, reports of issues surfaced, turning Propiy from a trusted partner into a source of frustration. Traders, who had invested months in building profits, encountered obstacles that undermined their efforts. The main grievances include:
1. Delayed Profit Payouts
Traders report waiting up to 15 days to receive their profits, a stark contrast to Propiy’s promise of swift payouts. These delays have left traders anxious, with some fearing their earnings are at risk. One trader shared on social media, “After two months of successful trading and a $12,000 profit, I haven’t seen a single dollar.”
2. Unfair Profit Rejections
Perhaps the most devastating issue is the rejection of significant profits without clear justification. Traders have reported profits of $22,000 and $18,000 being voided, often with vague excuses like “violation of risk management rules.” This has led many to suspect Propiy is deliberately avoiding large payouts.
3. Sudden Rule Changes
Traders have been blindsided by unexpected changes, such as the reduction of leverage on gold accounts from 100 to 10. These alterations, implemented without prior notice, have disrupted strategies and caused substantial losses for traders who relied on higher leverage.
4. Lack of Transparent Communication
Once a strength, Propiy’s customer support has become unresponsive or evasive when addressing payout issues or rule changes. Traders feel ignored, with their concerns met by generic responses or silence.
Fraud Allegations: Can Traders Trust Propiy?
In recent months, traders have accused Propiy of fraudulent practices, pointing to the pattern of delays, rejections, and rule changes as evidence of bad faith. Social media and Telegram groups are filled with stories of traders who feel cheated, some comparing Propiy to infamous prop firms that collapsed under similar accusations.
Propiy has denied these claims, attributing issues to international risk management challenges. Its founder, Ali Asgari, has promised a live session on May 15, 2025, to address concerns and provide transparency. However, traders remain skeptical, especially since Propiy has not responded to negative reviews on platforms like Trustpilot.
Analysis: What Traders Are Saying
Confirmed Issues
- Payout Delays: Numerous reports of waiting weeks for profits.
- Profit Rejections: Documented cases of voided profits without clear reasons.
- Rule Changes: Unfair and unannounced changes disrupting trading strategies.
Possible Reasons from Traders’ Perspective
- Financial Strain: Rapid growth and large payout obligations may have stretched Propiy’s resources.
- Poor Management: Inadequate systems for handling high trading volumes could explain delays and errors.
- Suspicious Behavior: While no concrete evidence of fraud exists, the pattern of issues raises red flags.
Propiy’s Future: Any Hope for Traders?
Propiy’s future hinges on its ability to restore trader confidence. To do so, it must:
- Provide Full Transparency: Clearly explain delays and profit rejections.
- Compensate Affected Traders: Offer reparations for unfairly voided profits.
- Revise Rules Fairly: Implement changes with prior notice and trader input.
- Improve Communication: Respond promptly and openly to trader concerns.
Failure to address these issues could lead to Propiy’s downfall, as traders abandon the platform.
Recommendations for Traders
- Current Traders: Monitor Propiy closely. Document all transactions and prepare for potential legal recourse if issues persist.
- New Traders: Avoid signing up until Propiy resolves its problems and demonstrates transparency.
- Live Session: Watch the May 15, 2025, session, but approach promises with caution.
Lessons for Traders
Propiy’s case underscores the risks of prop trading, even with seemingly reputable firms. Traders should:
- Thoroughly review contracts and rules.
- Choose firms with proven transparency and positive reviews.
- Keep detailed records of trades to protect their interests.
Conclusion
Propiy once offered Iranian traders a path to financial success, but its recent failures—delayed payouts, rejected profits, and unfair rule changes—have turned hope into frustration. Traders, whose hard work has been disregarded, deserve transparency and fairness. Until Propiy proves its commitment to its users, traders should proceed with caution and explore safer alternatives.
Table: Propiy Overview and Issues
| Feature | Details |
|---|---|
| Founded | 2021 |
| Trader Count | Over 15,000 |
| Services | Trading challenges, Persian support, simulated environment, educational resources |
| Issues | Payout delays (up to 15 days), profit rejections, sudden rule changes |
| Allegations | Fraud, lack of transparency, unfair rule enforcement |
| Company Response | Promised transparency and live session on May 15, 2025 |
References
- Propiy Official Website: propiy.com
- Trustpilot Reviews for Propiy: trustpilot.com/review/propiy.com