In a recent update shared on social media platform X
(formerly known as Twitter), The Funded Trader announced plans for a
significant migration to the cTrader platform. The communication, disseminated
earlier today (Wednesday), provided instructions and details for the migration process
impacting approximately 4,700 individuals.
Traders have been instructed to ensure the closure of all
open trades by 4 PM EST to ensure accurate balance reflection within the new
cTrader accounts. Failure to comply with this requirement would result in
automatic closure of open trades by the system.
The cTrader accounts being established for traders will
mirror the account type and balance of their DXtrade accounts as of 4 PM EST,
following the closure of all positions. Traders are directed to locate their
cTrader usernames via the account overview page of their dashboard, with
additional login details and instructions to be provided separately by
Spotware, the company behind cTrader.
Furthermore, The Funded Trader reassured traders that
migration to cTrader
would continue for those who have requested it, indicating an ongoing
transition process. Traders are encouraged to remain attentive to the provided
instructions to facilitate a smooth transition to the new platform.
The Funded Trader’s DXTrade Launch
Earlier, The
Funded Trader, along with other proprietary trading firms migrated to DXTrade,
enabling traders to access real-time insights, as reported by Finance
Magnates. This shift is part of a broader trend in the proprietary trading
landscape. Led by CEO Angelo Ciaramello, The Funded Trader offers account sizes
ranging from $5,000 to $400,000, with leverage options across various
instruments. MyFundedFX was also migrating its clients’ accounts to DXTrade,
with trading activities temporarily suspended during the transition. Users are
advised to close open transactions before the migration to prevent automatic
closure by the system.
Prop Trading Firms Navigate Challenges amid MetaQuotes’
Compliance Measures
MetaQuotes’ recent implementation of stricter compliance
measures, particularly regarding US regulations, has sparked a series of
challenges within the proprietary trading industry.
Various firms have found themselves reevaluating their
partnerships with MetaQuotes in response to mounting worries about serving US
clients. This increased scrutiny has led some proprietary firms to halt
services temporarily and explore alternative platforms to maintain regulatory
compliance and operational resilience.
In a recent update shared on social media platform X
(formerly known as Twitter), The Funded Trader announced plans for a
significant migration to the cTrader platform. The communication, disseminated
earlier today (Wednesday), provided instructions and details for the migration process
impacting approximately 4,700 individuals.
Traders have been instructed to ensure the closure of all
open trades by 4 PM EST to ensure accurate balance reflection within the new
cTrader accounts. Failure to comply with this requirement would result in
automatic closure of open trades by the system.
The cTrader accounts being established for traders will
mirror the account type and balance of their DXtrade accounts as of 4 PM EST,
following the closure of all positions. Traders are directed to locate their
cTrader usernames via the account overview page of their dashboard, with
additional login details and instructions to be provided separately by
Spotware, the company behind cTrader.
Furthermore, The Funded Trader reassured traders that
migration to cTrader
would continue for those who have requested it, indicating an ongoing
transition process. Traders are encouraged to remain attentive to the provided
instructions to facilitate a smooth transition to the new platform.
The Funded Trader’s DXTrade Launch
Earlier, The
Funded Trader, along with other proprietary trading firms migrated to DXTrade,
enabling traders to access real-time insights, as reported by Finance
Magnates. This shift is part of a broader trend in the proprietary trading
landscape. Led by CEO Angelo Ciaramello, The Funded Trader offers account sizes
ranging from $5,000 to $400,000, with leverage options across various
instruments. MyFundedFX was also migrating its clients’ accounts to DXTrade,
with trading activities temporarily suspended during the transition. Users are
advised to close open transactions before the migration to prevent automatic
closure by the system.
Prop Trading Firms Navigate Challenges amid MetaQuotes’
Compliance Measures
MetaQuotes’ recent implementation of stricter compliance
measures, particularly regarding US regulations, has sparked a series of
challenges within the proprietary trading industry.
Various firms have found themselves reevaluating their
partnerships with MetaQuotes in response to mounting worries about serving US
clients. This increased scrutiny has led some proprietary firms to halt
services temporarily and explore alternative platforms to maintain regulatory
compliance and operational resilience.