MetaQuotes' unexpected decision to withdraw support for proprietary trading was like a bolt from the blue, causing uproar in the industry。The huge turmoil it has caused, leaving many unanswered questions, the future of proprietary companies is really clouded。It can be said that the word "challenge" has taken on a whole new meaning in the field of proprietary trading.。

Things are changing every day, and new information is emerging about subsequent proprietary companies' inability to serve U.S. customers or their desperate search for alternative solutions。

To help you stay up to date, hawkinsight brings together all the important information。

Who is running and who is pulling out？Finance Magnate's Table of Proprietary Companies

News Day after day, Finance Magnates brings all the information you need together here。The following table is constantly updated with new data。

Proprietary company	Commencement of business	Available platforms	Serving new US customers	Serving existing U.S. customers
Prop Firm	否	MT4 and MT5	否	否
Funded Engineer	Yes	MT4, MT5, and Match-Trader (migrating)	否	否
Funding Pips	Yes	MT4, MT5, cTrader (Migrating)	否	Yes
Smart Prop Trader	Yes	MT5	否	否
The5ers	Yes	MT5, Crypto Fund Trader (CFT) Platform	Yes (MT5 not included)	Yes (MT5 not included)
Crypto Fund Trader	Yes	MT4 and MT5	否	Yes
Audacity Capital	Yes	MT4 and MT5, DXtrade (migrating)	否	Yes
Blue Guardian	Yes	MT4 and MT5, DXTrade (migrating)	否	Yes
AquaFunded	Yes	MT4 and MT5	Yes	Yes
Funding Traders	Yes	MT4 and MT5	Yes	Yes
Maven	Yes	MT4	Yes	Yes
Swift Funding	Yes	MT4 and MT5	Yes	Yes
Bespoke	Yes	MT4 and MT5	Yes	Yes
Funded Next	Yes	MT4 and MT5	Yes	Yes
Funded Trading Plus (FT+)	Yes	MT4, MT5, DXtrade (Migrating)	否	否
FTMO	Yes	MT5	否	否
Alpha Capital Group	Yes	MT4, MT5, DXtrade (Migrating)	Yes (MT4 / 5 not included)	Yes (MT4 / 5 not included)
MyFundedFX	Yes	MT4, MT5, DXtrade (Migrating)	Yes (MT4 / 5 not included)	Yes (MT4 / 5 not included)
The Funded Trader	Yes	MT5	Yes	Yes
City Traders Imperium	Yes	MT4、MT5、cTrader、DXTrade	Yes	Yes
E8 Markets	Yes	NinjaTrader、Finamark、R | Trader & R | Trader Pro、Overcharts	Yes	Yes
Earn2Trade	Yes	NinjaTrader、TradingView	Yes	Yes
EliteTrader Funding	Yes	MT4、MT5	否	否
FXIFY	Yes	MT4、MT5	否	否
For Traders	Yes	MT4、MT5	Yes	Yes
Glow Node	Yes	MT4、MT5、cTrader、DxTrade	Yes	Yes
Goat Funded Trader	Yes	MT4, MT5, DXtrade (Migrating)	否	否
Instant Funding	Yes	MT4, MT5, DXtrade (forthcoming), cTrader (forthcoming)	Yes	Yes
Lark Funding	Yes	MT4、MT5	Yes	Yes
Ment Funding	Yes	MT4、MT5	Yes	Yes
My Flash Funding	Yes	NinjaTrader	Yes	Yes
Apex Trader Funding

Have you ever heard of a proprietary company suspending operations or stopping accepting U.S. customers？Let us know in the comments section below!

What happened?？Proprietary Turmoil, Explained

It all started on February 14 when Funding Pips, one of the popular Dealer Financing Firms (TFF), abruptly closed trading and stopped serving all traders.。

As a result, MetaQuotes has suddenly begun to crack down on proprietary trading firms that rely heavily on the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5).。Funding Pips CEO Khaled Ayesh issued the following statement:

Hello, community and friends:

From day one, we have been completely transparent to each and every one of you。Unlike many other companies, we have always kept our promise and will continue to do so.。

Today, MetaQuotes decided to suddenly stop service due to active US accounts.。@ blackbullforex did not terminate our partnership, but they were forced to let us go, otherwise they would lose their license, as you can see today, they delisted from the application and hope they can come back。

Speaking of which, we have good news! Your account is secure and we have transferred all your transaction data to our database。Our team is sparing no effort to organize these efforts to get us back online。

We're not going anywhere, and once we're back online, every payout will be processed。Although this situation is not our fault and we have made every effort to move as soon as possible after this happened, we will still compensate for every lost transaction because you are our family.。

Each and every one of you is our priority, we hope to get your help, please be patient so that our team can work under as little pressure as possible to get us back online as soon as possible。Our team and I will be here to answer your questions and communicate with you.。

Sorry for the inconvenience。

- Khalid (@ Khldfx) 14 February 2024

As Finance Magnates discovered, this is related to licensing issues。TFF requires additional authorization to provide services to U.S. customers。As you might guess, they're usually not authorized。

Some companies have deftly circumvented this problem by using licenses from other entities。One example is Blackbull, which grey-labels its own MetaTrader license and offers it to proprietary trading firms like Funding Pips.。Meanwhile, Twitter's "proprietary trading granddaddy" FTMO also gained traction, but MetaQuotes ultimately decided to curb the process.。

Boris Schlossberg, managing director of BK Asset Management, explains the whole incident in detail in the video below。As he explained, MetaQuotes did so not out of malice, but only to defend its own interests。

They don't want to get into the "proprietary" space because it could violate strict U.S. regulations that the company wants to invalidate.。Especially after the company's mobile app was kicked out of Apple's App Store in the United States more than a year ago.。

How about the result？Chaos。In just one week, the proprietary company's customers in the United States (and sometimes in other jurisdictions as well) lost access to their accounts, and the industry began a panic attempt to migrate to alternative solutions offered by the likes of Match-Trade Technologies (Match-Trader) and Spotware Systems (cTrader).。

DXtrade's Evgeny Sorokin has written an insightful article on why other technology providers are chasing the funding dealer business that MetaQuotes has abandoned.。Some companies, in turn, predict the end of the current well-established proprietary trading model.。

Proprietary Company FAQ

What Happened to MetaQuotes and Proprietary Companies？

MetaQuotes, the company behind the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, has suddenly started cracking down on proprietary trading firms that use their platforms without proper permission.。Many of these proprietary companies serve U.S. customers without authorization from U.S. regulators.。MetaQuotes has decided to stop providing services to these companies to avoid potential legal problems.。

What the MetaQuotes decision means for advised traders using MT4 / MT5？

Recent policy changes at MetaQuotes mean that prop trading firms using the MetaTrader 4 and MetaTrader 5 platforms may have to cease operations or migrate to other trading platforms if they serve US clients.。

Can U.S. customers still participate in proprietary trading?？

U.S. customers face restrictions from many proprietary trading firms due to regulatory issues and the crackdown on MetaQuotes, although some are looking for alternative platforms to continue serving U.S. customers.。

What alternative platforms are proprietary trading firms turning to？

As MetaQuotes removes support, props companies are migrating to alternative platforms such as Spotware's cTrader and Match-Trader from Match-Trade Technologies。Some companies like Crypto Fund Trader also have their own proprietary platforms。

How traders know which proprietary companies are still operating？

hawkinsight continuously updates the real-time table of prop companies, showing which companies are still operating and the availability of the current platform。In addition, we recommend that you visit the websites of various professional companies。

What should I do if my self-operated company account is suspended？

Consult directly with your own company for guidance。Many companies are moving accounts to new platforms as soon as possible。You may need to complete a new account opening procedure。During the waiting period, make sure to withdraw the available balance of the account as much as possible。

What is the impact on non-US traders?？

The direct impact on non-US traders may be minimal, but platform changes and industry-wide shifts may affect the availability and terms of global prop trading opportunities.。

MetaQuotes' unexpected decision to withdraw support for proprietary trading was like a bolt from the blue。It caused a huge upheaval, leaving many unanswered questions, and the props company's future is really clouded。It can be said that in the field of proprietary trading, the word "challenge" has taken on a whole new meaning.。

The situation is changing every day, with new information every day that the follow-on prop company is unable to serve U.S. customers or is desperately looking for alternative solutions。