Prop Trading Firm Funding Pips Eyes US Market after Match-Trader Migration

Prop Trading Firm Funding Pips Eyes US Market after Match-Trader Migration

Time Stamp: March 1, 2024 11:23 AM
Source Node: 2502622

Nearly two weeks after migrating its services from
MetaTrader to Match-Trader, Funding Pips is targeting US traders again.
According to a post on X (formerly Twitter), the proprietary trading platform has urged traders from the US to “stay tuned for a major comeback.”

Recently, Funding Pips announced that
MetaQuotes had ended its collaboration with the proprietary trading firm due to
its services to US traders. Subsequently, Funding Pips’ CEO, Khaled Ayesh, confirmed that the firm had
completely migrated the existing servers and switched the service provider to
Match-Trade Technologies, the operator of the Match-Trader platform.

Thus, Funding Pips completed its migration from
MetaTrader to Match-Trader, a process that was spearheaded by the company’s CEO. Moreover, the firm plans to integrate alternative platforms like Dxtrade, cTrader, and TradeLocker.

Funding Pips attributed the disruption of its
services on February 14 to an unexpected maintenance. This resulted from its
brokerage partner, Blackbull Markets, terminating its partnership due to
MetaQuotes’ directives.

MetaQuotes‘ stringent licensing policies for
proprietary trading firms compelled Blackbull Markets to sever ties.
This step reflected a broader trend of regulatory scrutiny and
licensing restrictions within the proprietary trading sector. While US regulations pose challenges, proprietary trading
firms operate outside traditional oversight.

MetaQuotes’ decision resulted from licensing issues
experienced by proprietary trading companies offering services to US-based clients.
Without authorization, many firms resorted to unconventional methods, such as
using third-party licenses. This was a common
practice until MetaQuotes intervened, halting the grey-labeling process and
even affecting industry giants like FTMO, Finance Magnates reported.

Dynamics Reshaping the Prop Trading Industry

MetaQuotes’ sudden withdrawal of support sent
shockwaves through the industry, casting uncertainty over the future of
proprietary trading firms. This decision disrupted operations and raised
a concern about compliance and sustainability.

Currently, the situation remains dynamic, with daily
developments shaping the proprietary trading landscape. Many firms are grappling
with the aftermath, either ceasing operations or scrambling to find alternative
solutions. At Finance Magnates, we have consolidated a live table to track the
changes by major proprietary trading companies.

Nearly two weeks after migrating its services from
MetaTrader to Match-Trader, Funding Pips is targeting US traders again.
According to a post on X (formerly Twitter), the proprietary trading platform has urged traders from the US to “stay tuned for a major comeback.”

Recently, Funding Pips announced that
MetaQuotes had ended its collaboration with the proprietary trading firm due to
its services to US traders. Subsequently, Funding Pips’ CEO, Khaled Ayesh, confirmed that the firm had
completely migrated the existing servers and switched the service provider to
Match-Trade Technologies, the operator of the Match-Trader platform.

Thus, Funding Pips completed its migration from
MetaTrader to Match-Trader, a process that was spearheaded by the company’s CEO. Moreover, the firm plans to integrate alternative platforms like Dxtrade, cTrader, and TradeLocker.

Funding Pips attributed the disruption of its
services on February 14 to an unexpected maintenance. This resulted from its
brokerage partner, Blackbull Markets, terminating its partnership due to
MetaQuotes’ directives.

MetaQuotes‘ stringent licensing policies for
proprietary trading firms compelled Blackbull Markets to sever ties.
This step reflected a broader trend of regulatory scrutiny and
licensing restrictions within the proprietary trading sector. While US regulations pose challenges, proprietary trading
firms operate outside traditional oversight.

MetaQuotes’ decision resulted from licensing issues
experienced by proprietary trading companies offering services to US-based clients.
Without authorization, many firms resorted to unconventional methods, such as
using third-party licenses. This was a common
practice until MetaQuotes intervened, halting the grey-labeling process and
even affecting industry giants like FTMO, Finance Magnates reported.

Dynamics Reshaping the Prop Trading Industry

MetaQuotes’ sudden withdrawal of support sent
shockwaves through the industry, casting uncertainty over the future of
proprietary trading firms. This decision disrupted operations and raised
a concern about compliance and sustainability.

Currently, the situation remains dynamic, with daily
developments shaping the proprietary trading landscape. Many firms are grappling
with the aftermath, either ceasing operations or scrambling to find alternative
solutions. At Finance Magnates, we have consolidated a live table to track the
changes by major proprietary trading companies.

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