The prop trading company Crypto Fund Trader, which focuses on crypto-forex pairs, has said that it will no longer provide MetaTrader 5 services to its customers in the United States.

The move, according to the company, was taken in order to safeguard its customers and maintain its MetaTrader license from MetaQuotes, the company that develops the well-known trading platform. The action is in response to rumors that MetaQuotes is taking action against prop trading firms. 

It is purported that the company delivered cease-and-desist letters to multiple businesses that were using its software without the required authorization. Prop trading companies are organizations that give traders who pass specific tests money and coaching in exchange for a cut of their profits. 

According to Crypto Fund Trader, US customers can continue to trade on its own CFT platform, which purports to provide funding of up to $200,000, and access their accounts. They won't, however, be able to buy assessments on MetaTrader 5, a platform that traders all around the world rely on. 

Not all prop trading companies have recently limited their services to US customers, as Crypto Fund Trader. Two of the most well-known brands in the market, The5ers and FTMO, have also stopped onboarding new US traders and requested that they move to other platforms. Although the motivations for these moves are unclear, some have theorized that they have to do with the legality of prop trading in the US as well as the regulatory issues that may be there.