Funding Pips Back in the Game!

Amidst a tumultuous week marked by disruptions and the discontinuation of access to MetaQuotes' prominent trading platforms, Funding Pips, a proprietary trading firm, has announced the successful migration of user accounts and transaction history to Match-Trade Technologies' competing platform.

Following Funding Pips' recent disclosure that its partnership with MetaQuotes was terminated due to regulatory concerns related to serving US clients, the firm's CEO confirmed the seamless migration of existing servers to Match-Trade Technologies, the provider of the Match-Trader platform.

In an official communication on the Discord channel, CEO Khaled Ayesh assured stakeholders that the transition to Match-Trader is complete, with meticulous stress testing underway for trading conditions and liquidity provider connections.

Ayesh underscored the retention of commissions, spreads, and other trading conditions from Meta Trader 4 and 5 platforms within Match-Trader. Simultaneously, Funding Pips' technical team is actively integrating alternative platforms, including Dxtrade and Ctrader, with TradeLocker identified as a strategic focal point.

To fortify future service provisions to US clients, Ayesh articulated ongoing endeavors to secure cryptocurrency and futures licenses. Any developments will be promptly communicated, with TradeLocker subject to MetaQuotes' response regarding the acquisition of their license.

On February 14th, Funding Pips instituted an abrupt suspension of trading and services, attributing it to “unexpected urgent maintenance,” as communicated to clients. This measure followed the termination of its partnership with its exclusive brokerage collaborator, Blackbull Markets, under MetaQuotes' directive to cease services to Funding Pips.

This incident underscores MetaQuotes' stringent measures against prop trading firms utilizing its platforms, showcasing the licensing authority it wields within the sector.

While MetaTrader platforms are prevalent for leveraged forex and CFD trading, MetaQuotes' licensing policies have been both opaque and restrictive. The grey-labeling of licenses, allowing brokers to offer MT4 and MT5 to companies rejected by MetaQuotes, serves as a notable workaround.