MyFundedFX has completed integrating cTrader followingweeks of turmoil in the industry. According to a statement on X, the proprietarytrading platform will be "stress testing it and ensuring it is bug-free."
MyFundedFX mentioned: "Later next week, we aimto go live with CTrader powered by Purple Trading SC. We have also been handedover our MatchTrader server license and have begun the integration work forthat. Thank you for your patience as we provide more options for everyone!"
— MyFundedFX (@MyFundedFX) March 1, 2024Our Integration of CTrader has been complete.
Over the weekend and early next week we will be stress testing it and ensuring it is bug free.
Later next week we aim to go live with CTrader powered by Purple Trading SC.
We have also been handed over our MatchTrader server… https://t.co/D9Tcl3Nilf
On February 19, MyFundedFX announced that it wasrestricting US traders effective immediately. The platform exclusively restrictedusers in this region to trading DXtrade challenges.
Besides that, the firm asked US traders to preparefor a migration of their accounts from MetaTrader to DXtrade. This migrationwas a response to ongoing regulatory pressures and a shift in the industry.
— MyFundedFX (@MyFundedFX) February 19, 2024Effectively immediately, US clients are restricted to only purchasing new challenges on DXtrade. This includes residents of the US and those living in the US with dual citizenship.
All existing US clients may continue trading this week as normal. We are still coordinating with…
Currently, most proprietary trading firms arecompleting their migration to new platforms driven by MetaQuotes' tighteningregulations, especially concerning US compliance .
These changes affecting the industry began whenmajor brokerage firms like Blackbull Markets and Purple Trading terminatedpartnerships with proprietary trading platforms due to compliance concerns.
Blackbull Markets' decision to sever ties withFunding Pips, a Dubai-based trading firm, underscored the severity of theregulatory challenges faced in the industry. MetaQuotes' actions have resultedin a broader diversification trend among proprietary trading platforms, as theyintegrate alternative trading platforms, such as cTrader and Match-Trader.
Adapting to Regulatory Pressure
Some platforms, including The5ers and FTMO, havehalted services to US-based clients altogether, reflecting the broader industryresponse to the restrictions.
Currently, many firms are dealing with this challenge, either ceasing operations or finding an alternativesolution. At Finance Magnates, we have created a live table to track thechanges by major proprietary trading companies.
MyFundedFX has completed integrating cTrader followingweeks of turmoil in the industry. According to a statement on X, the proprietarytrading platform will be "stress testing it and ensuring it is bug-free."
MyFundedFX mentioned: "Later next week, we aimto go live with CTrader powered by Purple Trading SC. We have also been handedover our MatchTrader server license and have begun the integration work forthat. Thank you for your patience as we provide more options for everyone!"
— MyFundedFX (@MyFundedFX) March 1, 2024Our Integration of CTrader has been complete.
Over the weekend and early next week we will be stress testing it and ensuring it is bug free.
Later next week we aim to go live with CTrader powered by Purple Trading SC.
We have also been handed over our MatchTrader server… https://t.co/D9Tcl3Nilf
On February 19, MyFundedFX announced that it wasrestricting US traders effective immediately. The platform exclusively restrictedusers in this region to trading DXtrade challenges.
Besides that, the firm asked US traders to preparefor a migration of their accounts from MetaTrader to DXtrade. This migrationwas a response to ongoing regulatory pressures and a shift in the industry.
— MyFundedFX (@MyFundedFX) February 19, 2024Effectively immediately, US clients are restricted to only purchasing new challenges on DXtrade. This includes residents of the US and those living in the US with dual citizenship.
All existing US clients may continue trading this week as normal. We are still coordinating with…
Currently, most proprietary trading firms arecompleting their migration to new platforms driven by MetaQuotes' tighteningregulations, especially concerning US compliance .
These changes affecting the industry began whenmajor brokerage firms like Blackbull Markets and Purple Trading terminatedpartnerships with proprietary trading platforms due to compliance concerns.
Blackbull Markets' decision to sever ties withFunding Pips, a Dubai-based trading firm, underscored the severity of theregulatory challenges faced in the industry. MetaQuotes' actions have resultedin a broader diversification trend among proprietary trading platforms, as theyintegrate alternative trading platforms, such as cTrader and Match-Trader.
Adapting to Regulatory Pressure
Some platforms, including The5ers and FTMO, havehalted services to US-based clients altogether, reflecting the broader industryresponse to the restrictions.
Currently, many firms are dealing with this challenge, either ceasing operations or finding an alternativesolution. At Finance Magnates, we have created a live table to track thechanges by major proprietary trading companies.
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