Eightcap has announced changes to its offerings effective February 29th, indicating a cessation of services to proprietarytrading firms. This announcement by the provider of grey label MT licenses toproprietary firms today (Thursday) followed similar moves between several proprietarytrading firms and their technology providers.
Matt L. from Lark Funding mentioned on X: "ThinkMarkets has reassured us several times over the last fewweeks that operations on their end and their relationship with MetaQuotes issolid. But, of course, we’re not going to rely on justone broker. We’re already in discussions with other brokers to see who we canwork with and provide additional options to traders."
According to another account identified as Blake on X:"As of this morning, Eightcap has notified all of their prop tradingpartners that they will be shutting down their prop firm relationships in 2weeks. The companies I am personally involved withare ahead of the pack and already implementing new and more beneficialalternatives for all traders across the entire industry. More news tocome!"
Finance Magnates reached out to Eightcap and will update this article once we receive feedback from the firm.
Similarly, another proprietary trading platform, Funded Trading Plus, has been affected by Eightcap's decision. According to a post by an account identified as The Prop Journalist on Twitter, the platform has integrated ThinkMarkets to resolve this issue.
MetaQuotes, the platform behind MetaTrader 4 and 5, istightening its grip on proprietary trading firms, precipitating the termination ofservices for US clients. The recent fallout involves Funding Pips andbrokerages Blackbull Markets and Purple Trading, Finance Magnates reported.
MetaQuotes' actions underscore the challengesof navigating US regulatory restrictions within the MetaTrader ecosystem. Thetermination of services for US clients by Blackbull Markets and Purple Tradinghighlights MetaQuotes' stringent stance regarding prop trading firmsoperating in the United States.
The decision to terminate services to prop tradingcompanies stems from MetaQuotes' concerns over active US accounts. Proprietary tradingfirms, although operating beyond the traditional regulatory scope, areincreasingly targeted due to their technical exemption from US regulations.
Elsewhere, the proprietary trading firm FundedEngineer recently postponed plans to relaunch its services. This decision comesafter FPFX Technologies terminated its software licenses, prompting FundedEngineer to switch its brokerage to Blueberry Markets for all client trades.
Funded Engineer has announced refunds for eligibleclients, requiring accounts to have no drawdown greater than 4%. Those with drawdownsunder 4% can request refunds but will lose access to their accounts.Additionally, the company is addressing a backlog of pending payouts.
Eightcap has announced changes to its offerings effective February 29th, indicating a cessation of services to proprietarytrading firms. This announcement by the provider of grey label MT licenses toproprietary firms today (Thursday) followed similar moves between several proprietarytrading firms and their technology providers.
Matt L. from Lark Funding mentioned on X: "ThinkMarkets has reassured us several times over the last fewweeks that operations on their end and their relationship with MetaQuotes issolid. But, of course, we’re not going to rely on justone broker. We’re already in discussions with other brokers to see who we canwork with and provide additional options to traders."
According to another account identified as Blake on X:"As of this morning, Eightcap has notified all of their prop tradingpartners that they will be shutting down their prop firm relationships in 2weeks. The companies I am personally involved withare ahead of the pack and already implementing new and more beneficialalternatives for all traders across the entire industry. More news tocome!"
Finance Magnates reached out to Eightcap and will update this article once we receive feedback from the firm.
Similarly, another proprietary trading platform, Funded Trading Plus, has been affected by Eightcap's decision. According to a post by an account identified as The Prop Journalist on Twitter, the platform has integrated ThinkMarkets to resolve this issue.
MetaQuotes, the platform behind MetaTrader 4 and 5, istightening its grip on proprietary trading firms, precipitating the termination ofservices for US clients. The recent fallout involves Funding Pips andbrokerages Blackbull Markets and Purple Trading, Finance Magnates reported.
MetaQuotes' actions underscore the challengesof navigating US regulatory restrictions within the MetaTrader ecosystem. Thetermination of services for US clients by Blackbull Markets and Purple Tradinghighlights MetaQuotes' stringent stance regarding prop trading firmsoperating in the United States.
The decision to terminate services to prop tradingcompanies stems from MetaQuotes' concerns over active US accounts. Proprietary tradingfirms, although operating beyond the traditional regulatory scope, areincreasingly targeted due to their technical exemption from US regulations.
Elsewhere, the proprietary trading firm FundedEngineer recently postponed plans to relaunch its services. This decision comesafter FPFX Technologies terminated its software licenses, prompting FundedEngineer to switch its brokerage to Blueberry Markets for all client trades.
ADVERTIsem*nT
Funded Engineer has announced refunds for eligibleclients, requiring accounts to have no drawdown greater than 4%. Those with drawdownsunder 4% can request refunds but will lose access to their accounts.Additionally, the company is addressing a backlog of pending payouts.
