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Prop firms Updates - 3rd week of January 2024

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.

True Forex Funds Wins the Best Funded Trader Platform Award for 2023

True Forex Funds has won the prestigious ‘Best Funded Trader Platform’ award for 2023, according to a recent announcement. The award recognizes the company’s commitment to empowering traders worldwide with expertise, integrity, and visionary strategies, as well as its innovative approach to prop trading. Forexdailyinfo praised True Forex Funds’ mission to revolutionize prop trading by providing innovative solutions and fostering a community of empowered traders.

True Forex Funds is proud to have established itself as a market-leading prop firm, setting new milestones year after year. In 2023, its traders received over $40,000,000 in payouts, and in 2024, the target is set at $80,000,000. The company is already off to a good start, as at the beginning of January 2024, one of its traders had already achieved a profit share of $94,018.59.

True Forex Funds’ innovative approach to prop trading has been recognized by the industry, and the company is committed to nurturing top-tier talent, providing an unparalleled trading environment, and empowering traders with the tools and capital they need to succeed. Join True Forex Funds’ community of funded traders and experience the difference.


The Funded Trader CEO Announces the Launch of Four New Companies

Angelo Ciaramello, CEO and Founder of The Funded Trader, has announced the launch of four new companies in the next 60 days. The announcement was made on social media, where Angelo expressed his excitement about the upcoming ventures, stating, “This should be fun. He has two different ones cooking!”.

The other two companies are @PropFirmJournal challenges and a relaunch of a current firm. Angelo’s entrepreneurial spirit and innovative approach to prop trading have been recognized by the industry, and he is committed to nurturing top-tier talent, providing an unparalleled trading environment, and empowering traders with the tools and capital they need to succeed.


AQREFX Resumes Payouts, Denies Stripe Released Funds in August

AQREFX has resumed payouts as of last week, according to a recent update. The company has had success with a few of the bots on its margin account and is excited to get this backlog cleared.

However, the company has seen updates saying that Stripe released their funds in August, which simply isn’t true. AQREFX, along with PayPal, had frozen their accounts when the My Forex Funds shut down happened, and they were fully disabled as of September 15th.


FTMO Traders Can Now Withdraw Payouts in Any Currency of Their Choice 

FTMO has announced that traders can now withdraw their payouts in any currency of their choice, according to a recent update. Whether it’s the US dollar or any other currency available for FTMO Challenge accounts, the choice is yours. With seven world currencies to choose from and the option to go for cryptocurrency, tailor your payout to your preferences.

This new feature provides traders with more freedom and flexibility when it comes to withdrawing their earnings. Traders can choose the currency that suits them best and relish the rewards of their hard work.


Funding Traders introduces Blueberry Markets as their new brokerage option for MetaTrader4

Funding Traders is excited to announce that they have added Blueberry Markets to their list of brokerage options for MetaTrader4. This means that all of their traders can now trade on both the MT4 and MT5 platforms.

In the coming days, Blueberry Markets will be rolling out swap-free, commission-free, and raw spreads as options. These features will provide better trading conditions for all traders.

Moreover, MT5 and Webtrader will be available soon, which will further enhance the trading experience for Blueberry Markets users.


MyFundedFX Launches a 3-Step Program with a 5-Day Payout Period

MyFundedFX has launched its 3-Step Program with a new 5-day payout period. The program has been re-evaluated to reward consistent traders with a tougher challenge but a much lower price point than traditional models.

The payout period has been changed from every 14 days to every 5 calendar days. This means that traders will receive their payouts more frequently, which will reward those traders even more.

The 3-Step Program is designed to help traders reach new heights in their performance. The program allows traders to start trading without simulated gain targets as long as they don’t reach the maximum simulated or daily simulated loss limits.


StockNet Institute Launches an INCEPTION Plan with No Drawdown Rules and No Loss Limits

StockNet Institute has announced the launch of its INCEPTION Plan, which allows traders to trade an instant-funded account with no drawdown rules and no loss limits. This is the first time ever in the industry that such a plan has been introduced, and it is truly a game changer.

With the INCEPTION Plan, traders can start trading on an instant-funded account within seconds and leave their worries about breaching drawdown rules behind. Losses are a normal part of a trading strategy as well as a hugely important factor in developing as a trader towards profitability. With INCEPTION, traders will no longer be penalized for their losses, but instead, they will be given the chance to rectify them and return to positive equity.


Funder Pro Launches New Swing Accounts with Extended Holding Periods.

Funder Pro has introduced the New Swing Accounts, which are a departure from traditional trading practices. These accounts boast a distinctive two-step evaluation program, challenging established norms and fostering a more adaptable trading environment.

One of the standout features of the New Swing Accounts is the allowance for extended holding periods. Traders can now confidently maintain positions over weekends and during crucial news events. This will ultimately offer traders flexibility beyond standard market hours.

This shift in approach aligns with Funder Pro’s commitment to providing traders with the tools to navigate dynamic markets.

Author : Prop Connect
Publish Date : 20 January 2024

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