Articles

Funding Pips Launches cTrader as Part of its Diversification Efforts

Among other things, Funding Pips introduced the cTrader platform to adjust to the shifting regulatory landscape. Funding Pips responded to the regulatory monitoring affecting US traders by launching the cTrader platform.

To counteract regulatory scrutiny in the US that has affected the proprietary trading industry, Funding Pips, a platform for proprietary trading, has expanded its operations to include the cTrader platform. 

Recently, Funding Pips switched from MetaTrader to Match-Trader, a move that suggests a strategy change with an eye on the US market. This action was taken in reaction to the regulatory obstacles that MetaQuotes' licensing rules imposed, and it reflects the difficulties that the proprietary trading sector is currently facing.

Unexpected changes in Funding Pips's service suppliers resulted in service outages. These adjustments were related to Blackbull Markets, the company's brokerage partner, terminating its relationship with it on MetaQuotes' orders.

MetaQuotes' decision to stop supporting proprietary trading companies that catered to US clients had a significant impact on the sector. This decision raised worries about sustainability and compliance, as well as operational difficulties.

Funding Pips switched to Match-Trader last month, signaling a shift in the products the company offers. The company guaranteed a seamless transfer of accounts and transaction history to its clients. The CEO of the business, Khaled Ayesh, reaffirmed the migration's success and stressed the need to maintain crucial components of the Match-Trader ecosystem, such as trading conditions.

Funding Pips' abrupt service termination on February 14 highlighted the company's dependence on Blackbull Markets, its brokerage partner, and subsequently, MetaQuotes' systems. This incident had an impact on a certain segment of the proprietary trading community.

A key platform for leveraged forex and CFD trading is still MetaTrader. However, market participants seeking a worldwide reach face difficulty due to its stringent licensing framework. The fallout from MetaQuotes' actions brought to light the necessity of varied trading options and regulatory openness in a market that is evolving quickly.

While proprietary trading companies are subject to a different set of laws that encourage creativity and flexibility in response to shifting market conditions, leveraged trading services are subject to strict regulations in the US.

Author : Prop Connect
Publish Date : 07 March 2024

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