Funding Pips Announces New Platforms After MetaQuotes Exit

In an unexpected turn of events, Funding Pips, a well-known prop trading service, is making substantial modifications to its trading platform. This comes after MetaQuotes, the provider of the popular MT4 and MT5 platforms, chose to discontinue its services for accounts based in the United States, leading Funding Pips to temporarily suspend operations. To adapt and continue serving its customers, Funding Pips is introducing numerous additional trading platforms, including Match-Trader, cTrader, DXtrade, and TradeLocker.

Khaled Ayesh, CEO of Funding Pips, revealed on Discord that these platforms are being provided to provide traders with several options after the relocation of customer accounts. Ayesh's message was clear: “After adding all platforms, traders will have the freedom to choose which platform they want to use.” He also informed customers that Funding Pips will restart operations “in 10 days max,” in a message delivered early on February 16.

Why MetaQuotes is exiting the Prop Trading Sector？

This decision is in direct reaction to steps made by MetaQuotes, domiciled in Cyprus. The firm has been telling its brokerage customers about its plan to exit the prop trading industry, especially stating that it would remove licenses from brokers who offer prop trading on MT4 or MT5. MetaQuotes' decision is based on a history of regulatory compliance difficulties that led to the company's temporary suspension from the Apple App Store. MetaQuotes' re-admittance to the App Store was contingent on meeting tough regulatory standards, particularly those imposed by the United States, which has severe controls on Forex and CFD trading for its people.

MetaQuotes' approach is to eliminate any business that involves US consumers in non-regulated Forex or CFD transactions to comply with US legislation and prevent any legal problems. This legislative adjustment has important repercussions for the Forex trading sector, particularly for US consumers, who may see fewer Forex trading alternatives. Prop businesses who have previously depended largely on MetaQuotes for trading platforms must now find alternate options that may not be as known or well-acknowledged as the MT4 or MT5 platforms.

The Future of Futures Proposition Trading

However, these advancements have had little impact on the futures prop trading market. This industry is governed differently, and the decentralized structure of futures trading software gives traders several ways to access markets. Unlike the Forex and CFD markets, which depend primarily on MetaQuotes, the futures trading industry provides additional software options, making it more appealing to U.S. authorities.

Conclusion: Adjusting to Change

Funding Pips' quick response to create alternate trading platforms demonstrates its dedication to delivering continued services to its customers. As the Forex and prop trading sectors grapple with legal and operational issues, Funding Pips' release of new platforms like as Match-Trader, cTrader, DXtrade, and TradeLocker signals a fundamental change in how traders will interact with the markets in the future. This move not only demonstrates prop companies' resilience in reaction to regulatory reforms but also reflects the changing face of the trading business.