We've collected for you the latest news from the most important prop firms in the industry , all in one place. Which makes it easier for traders to stay up-to-date on the latest developments and catch the updated information they need.

Goat Funded Trader: We Now Accept LITECOIN as a Payment Method

Goat Funded Trader has formally added LITECOIN to their list of cryptocurrencies that they accept for payment. At the moment, the company takes credit and debit cards, Bitcoin, Ethereum, USDT, and LITECOIN as payment methods.

This action is a reaction to the increasing demand among cryptocurrency aficionados for LITECOIN, which has been gaining popularity. It is anticipated that the inclusion of LITECOIN in the list of recognized cryptocurrencies will draw more traders to the platform.

Blue Guardian has announced a strategic partnership with Riseworks.io as a payout method.

With effect from Friday, January 12, Blue Guardian has established a strategic relationship with Riseworks.io as a payout method. This new integration, which introduces a seamless and automated method through Riseworks.io, will completely transform the payout experience for both Blue Guardian and its traders. The platform will improve speed and efficiency, offering a quicker and easier withdrawal procedure. Payouts for traders using Blue Guardian will now be deposited straight into their Riseworks accounts. The ability for traders to withdraw money straight to their bank accounts or cryptocurrency wallets is another way that the connection increases convenience. Blue Guardian conveyed assurance regarding the shift, stating that the incorporation of Riseworks.io will replace the conventional payout procedure with a more contemporary, automated, and trouble-free technique. This action is in line with the company's dedication to always enhancing its users' trading experiences. To further accommodate users with different tastes, Blue Guardian will continue to allow traders to withdraw payments under $1000 straight to their cryptocurrency wallets.

Rumors circulated that Rise keeps tabs on taxes or reports traders' earnings to the government. The Blue Guardian, however, verified that this is untrue information after speaking with a Rise representative. It is the contractors' responsibility to handle their own taxes; Rise is not involved in this process.

For US clients, FTMO has suspended the FTMO Challenge Purchase.

Leading prop trading company FTMO has announced that, as a result of certain market circumstances, it will be temporarily discontinuing the sale of FTMO Challenges to both new and current US clients. The suspension is due to specific conditions in the market segment in the United States, which have made it difficult for FTMO to provide top-quality services to its clients. The company is trying to figure out how to get FTMO back online for anyone who wants to trade in the United States.

Since the issue mainly relates to the particulars of their operations in the US market, current clients can continue to utilize the services as usual, and partners, clients, and those interested in their services in other markets won't see any changes. Bringing value and pushing everyone interested in trading one step closer to their objective is still FTMO's mission.

Due to a business choice based on operational factors, FTMO ceased accepting new clients on May 4th, 2023, in the US states of Delaware, Louisiana, South Carolina, Montana, and Arkansas. This decision has no bearing on ongoing FTMO accounts or FTMO challenges that began prior to this date. New orders aren't accessible, though. They will cease entering into new agreements and offering FTMO accounts to customers in the aforementioned states on August 4, 2023. You can still trade with FTMO even if you are in the country but do not possess a US passport.

Fast Forex Funding Lowers Profit Target

Fast Forex Funding has declared that it will raise the maximum drawdown from 8% to 15% and the daily drawdown from 4% to 5%. Additionally, the company lowered its evaluation stage profit target from 10% to 8%. Even though the company had the lowest costs in the industry, they are regrettably unable to maintain the same challenge prices as previously due to these developments. They are so compelled to raise their rates.

It is anticipated that traders will have more flexibility as a result of the lower profit target and higher drawdown limitations, which will enable them to trade with greater risk and possibly make bigger profits. However, some traders might decide not to use the firm's services as a result of the price hike.

True Forex Funds: Forex Brokerage Registration Requires CFTC Registration

The Commodities Futures Trading Commission (CFTC) has forced True Forex Funds, a prop trading company with headquarters in Hungary, to register as a forex brokerage—a role they do not hold. The firm's legal staff keeps contacting the CFTC to request that they be taken off the RED list, which is unnecessarily harming their company's reputation. Unfortunately, it appears that they have little knowledge about proprietary trading.

The RED List is a list of foreign companies that are not CFTC-registered yet solicit and/or receive money from US consumers and sell goods that fall under the agency's purview. On June 12, 2023, True Forex Funds was added to the RED List due to unlawful activity. The company has little to no presence in the US and operates entirely outside of it. Its listing on the RED List does not imply that the CFTC or a court has found that the company has violated any regulations set forth by the Commission or the Commodity Exchange Act.

"The inclusion of this entity's name on the RED List does not mean that the CFTC or a court has concluded that a violation of any provision of the Commodity Exchange Act or the Commission's regulations has occurred," said a statement posted on True Forex Funds' website.