Happy New Year, traders! As 2024 dawns upon us, let’s take a moment to reflect on the significant updates and innovations introduced by some of the leading prop trading firms in December 2023. The prop trading industry has seen a flurry of activity, with 17 firms making noteworthy changes to enhance their offerings and adapt to the evolving market dynamics. Here’s a comprehensive overview of these updates:
E8 Funding’s Strategic Developments
- Introduction of Rise as a new withdrawal processor.
- Adjustment in account size requirement for the E8 custom program from $250,000 to $200,000.
The Funded Trader’s Fourfold Updates
- Launch of the Dragon Challenge, a new three-step evaluation process.
- Expansion of the Knight Challenge to include $5,000 and $110,000 account sizes.
- Introduction of two additional add-on features for the Knight Challenge: increased 4% maximum daily drawdown and 7% maximum trailing drawdown.
- New payment processor to enhance withdrawal flexibility.
Funding Pips Enhancements
- New payment processor integration with Rise for withdrawals.
- Introduction of multilingual live chat support.
SurgeTrader’s Lightning Audition
- A one-week evaluation program featuring a 5% profit target, daily and trailing drawdown limits, and leverage up to 1:20.
MyFundedFX Adds PayPal
- Introduction of PayPal as a new payment method.
The 5%ers Expands Trading Instruments
- Inclusion of Bitcoin, Ethereum, US oil, and UK oil to their funding programs.
Finotive Funding’s Risk Limitation
- Implementation of total risk limits for open positions.
Alpha Capital Group’s Regulatory Milestone
- Partnership with ACG Markets and receiving official regulation and licensing.
Crypto Fund Trader’s Multiple Updates
- Introduction of Zen, PayPal, and Payop as new payment and withdrawal methods.
City Trader Imperium Embraces Crypto Payments
- New cryptocurrency payment method for funding programs.
AquaFunded Integrates Rise
- Rise as a new withdrawal method.
Goat Funded Trader and Glow Node’s Adjustments
- Integration of Rise as a withdrawal method.
- Customized funding model and Rise integration by Glow Node.
FunderPro Introduces Swing Accounts
- Swing Accounts feature allowing weekend and news event holds.
Forex Capital Funds’ Brokerage Migration
- Transition from Eightcap to ThinkMarkets.
Lux Trading Firm Launches New Trading Platform
- Introduction of The Lux Trader trading platform with MetaTrader5 compatibility.
As we bid farewell to 2023, these updates underscore the prop trading industry’s commitment to continuous improvement and innovation. With firms keen on enhancing trader experiences and expanding their offerings, the future of prop trading looks promising. Here’s to a successful and prosperous 2024 for all traders!
