ThinkMarkets, an Australian broker, previously provided its in-house trading platform, ThinkTrader, to US clients of prop trading firms using MetaTrader grey labelling. But ThinkMarkets has subsequently stopped providing this service.

The Dubai-based prop trading company Bespoke has announced that it is switching to ThinkTrader, Think Markets' proprietary trading platform. The CEO of Bespoke, Lewis Kaler, has announced that the platform will start serving US-based clients again.

The “migration to ThinkTrader is happening this weekend,” according to a tweet from Kaler. He went on, "We will reopen our doors to US traders for purchased evaluations once the migration is finished." He added that they now have the "green light" to resume accepting US clients.

This announcement follows ThinkMarkets' termination of agreements with a number of prop trading companies that were using grey labelling to provide services to US clients under its MetaTrader license. This was a month ago. The broker has sent notice to "existing proprietary trading firms to stop onboarding US registrations and to terminate any existing US customers," according to a source close to ThinkMarkets.

The source added, "We are currently reassessing our existing arrangements to ensure they meet our standards and have decided to temporarily halt onboarding services to such firms." ThinkMarkets was only grey-labelling its MetaTrader licenses to support trading firms prior to the alleged MetaQuotes crackdown. Although MetaQuotes has not formally acknowledged this, numerous industry insiders have verified that the technology supplier forced brokers to stop providing MetaTrader to prop trading businesses' US clients.

Since ThinkTrader is now ThinkMarkets' exclusive trading platform, licenses are under its control. The broker's website states that online browsers, desktop applications, and mobile apps can all be used to access the unique trading platform.