In a notable pivot following MetaQuotes’ sudden suspension of its services for prop trading firms with active US accounts, retail prop trading firm Funding Pips plans to integrate several alternative trading platforms for its clientele.
CEO Khaled Ayesh revealed through a Discord message that the firm is in the process of incorporating Match-Trader, cTrader, DXtrade, and TradeLocker into its offerings. This move is aimed at providing traders the flexibility to choose their preferred trading platform once the migration of client accounts is complete.
Ayesh’s commitment to resuming operations within a maximum of ten days from February 16 underscores the firm’s urgency in addressing the disruption caused by MetaQuotes’ policy shift. This decision by MetaQuotes, the Cyprus-based developer of the widely-used MT4 and MT5 trading platforms, to distance its software from the proprietary trading business has sent ripples through the industry, prompting firms like Funding Pips to seek alternative solutions.
The rationale behind MetaQuotes’ decision to sever ties with prop trading entities and the potential implications for the future of the prop trading industry have been analyzed in a video by Boris Schlossberg of BKTraders. This analysis provides valuable insights into the evolving landscape of forex trading and the challenges faced by prop trading firms in adapting to new regulatory and operational realities.