Netherlands-based retail prop trading firm, Funds for Traders, announced its closure. The decision comes after its executing broker, Eightcap, informed the company that it would no longer support MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms for prop trading. As these platforms were central to Funds for Traders’ services, the company stated it could no longer operate effectively without them.

The issue seems to stem from MetaQuotes, the developer of MT4 and MT5, which has been increasing pressure on brokers to ensure their platforms are used in compliance with regulatory guidelines, particularly concerning U.S.-based traders. This move by MetaQuotes has led to the current situation, and it is anticipated that other prop trading firms using Eightcap may also face similar challenges or seek alternative platforms.

Funds for Traders has assured users with active challenges that they will be contacted and supported during this transition. The company expressed regret over the sudden closure and thanked its traders for their support and trust.