Welcome back to our monthly digest, where we share the latest developments from the forefront of proprietary trading. As February 2024 winds down, we’ve seen a flurry of activity from leading prop trading firms, making significant adjustments to meet evolving market demands and regulatory requirements. In this round-up, we’ll delve into the details of these updates, including platform changes, service suspensions, and innovative new features introduced by these dynamic companies.
Important Industry Shifts
Before diving into individual updates, it’s crucial to note a significant industry-wide shift. Recent actions by MetaQuotes have led to substantial changes for prop trading firms, especially those affecting traders in the United States. These adjustments are primarily due to new restrictions that have prompted firms to quickly pivot their strategies and services to remain compliant and competitive.
E8 Markets Embraces New Trading Platform
E8 Markets, adapting swiftly to the MetaQuotes restrictions, has phased out MetaTrader 4 and 5, introducing Match Trader as their exclusive trading platform. This rapid adaptation underscores the firm’s resilience and commitment to providing uninterrupted service to its clients.
FundedNext’s Seven Significant Updates
- Introduction of a 150% refund add-on feature.
- Launch of cryptocurrency trading.
- Suspension of services for US-based clients.
- Deployment of a news and equity management tool.
- Offering of a highly anticipated free trial.
- Introduction of a session bar indicator tool.
- Partnership with Rise for faster withdrawal processes.
Funding Pips and US Service Suspension
Funding Pips has joined other firms in suspending services to new US-based clients, also transitioning to Match Trader as their platform of choice.
The Funded Trader’s Platform Innovations
The Funded Trader has introduced DXTrade and cTrader as new platform options, alongside a weekly payout feature for their rapid challenge, marking a significant shift in their brokerage and platform offerings.
True Forex Funds and Platform Transition
True Forex Funds has moved away from MetaTrader platforms, opting for cTrader as their new platform, reflecting a broader industry trend towards diversification of trading platforms.
MyFundedFx’s Platform Expansion
MyFundedFx plans to expand its platform offerings, including DXtrade, Match Trader, and cTrader, anticipated to launch later in the year.
Funded Trading Plus’s New Partnerships
Funded Trading Plus has transitioned to ThinkMarkets and introduced DXtrade as a new platform option, alongside implementing Skrill for withdrawals, enhancing transaction efficiency for its traders.
Alpha Capital Group’s Strategic Updates
- Removal of Martingale trading restrictions.
- cTrader introduction alongside MetaTrader5.
- Launch of raw spread trading accounts.
- Introduction of micro lot trading, catering to a wider range of trading strategies.
The5ers and US Clientele
The5ers, in line with industry trends, have halted new applications from US-based traders due to MetaQuotes restrictions.
Blue Guardian’s Broker and Platform Shifts
Blue Guardian has not only changed its broker from Purple Trading to ThinkMarkets but also announced the upcoming addition of Match Trader and DXTrade as new platform options.
TopTier Trader and Glow Node’s Platform Overhaul
Both firms have made a significant shift from MetaTrader to TradeLocker and Match Trader, respectively, reflecting the ongoing platform evolution within the prop trading industry.
Audacity Capital’s Adjustments for US Clients
Audacity Capital joins the list of firms suspending services to new US-based clients, a move influenced by the broader industry’s regulatory landscape.
MyFlashFunding and Forex Prop Firm Embrace Rise
These firms have incorporated Rise as a new withdrawal processor, streamlining the payout process for their traders.
Crypto Fund Trader’s Dashboard Innovation
Crypto Fund Trader has introduced a dashboard update, enhancing user interaction and account analysis capabilities, including the option to hide closed accounts and a display showing the phase of each active account.
AquaFunded’s Transition to ThinkMarkets
AquaFunded has migrated client accounts from Purple Trading to ThinkMarkets, adapting to the changing brokerage landscape.
RebelsFunding’s New Client Zone
Concluding our roundup, RebelsFunding has launched a new client zone, designed to offer an enhanced user experience with improved features, marking a significant milestone in client engagement and service delivery.
February has indeed been a pivotal month for prop trading firms, with widespread updates reflecting both the challenges and opportunities within the dynamic world of proprietary trading. For more detailed insights into each firm’s updates, visit our comprehensive list of forex prop firms.
