In a recent update shared on social media platform X(formerly known as Twitter), The Funded Trader announced plans for asignificant migration to the cTrader platform. The communication, disseminatedearlier today (Wednesday), provided instructions and details for the migration processimpacting approximately 4,700 individuals.
Traders have been instructed to ensure the closure of allopen trades by 4 PM EST to ensure accurate balance reflection within the newcTrader accounts. Failure to comply with this requirement would result inautomatic closure of open trades by the system.
— The Funded Trader (@thefundedtrader) March 13, 2024👑 Important Update 👑
In 5 minutes we will be sending an email to 4,700 people that will be migrated to cTrader today.
Please take note that as of 4PM EST today you must ensure that the following is complete:
See AlsoProp Firms vs. Going Solo: The Inner Battle of a TraderProp Trading Firm The Funded Trader Cites “Internal Audit” to Suspend Payouts▶️ Please close all open trades by 4PM EST to ensure the most up to…
The cTrader accounts being established for traders willmirror 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 theircTrader usernames via the account overview page of their dashboard, withadditional login details and instructions to be provided separately bySpotware, the company behind cTrader.
Furthermore, The Funded Trader reassured traders thatmigration to cTraderwould continue for those who have requested it, indicating an ongoingtransition process. Traders are encouraged to remain attentive to the providedinstructions to facilitate a smooth transition to the new platform.
The Funded Trader's DXTrade Launch
Earlier, TheFunded Trader, along with other proprietary trading firms migrated to DXTrade,enabling traders to access real-time insights, as reported by FinanceMagnates. This shift is part of a broader trend in the proprietary tradinglandscape. Led by the CEO, Angelo Ciaramello,, The Funded Trader offers account sizesranging from $5,000 to $400,000 with leverage options across variousinstruments. MyFundedFX was also migrating its clients' accounts to DXTradewith trading activities temporarily suspended during the transition. Users areadvised to close open transactions before the migration to prevent automaticclosure by the system.
Prop Trading Firms Navigate Challenges amid MetaQuotes'Compliance Measures
MetaQuotes' recent implementation of stricter compliancemeasures, particularly regarding US regulations, has sparked a series ofchallenges within the proprietary trading industry.
Various firms have found themselves reevaluating theirpartnerships with MetaQuotes in response to mounting worries about serving USclients. This increased scrutiny has led some proprietary firms to haltservices temporarily and explore alternative platforms to maintain regulatorycompliance and operational resilience.
In a recent update shared on social media platform X(formerly known as Twitter), The Funded Trader announced plans for asignificant migration to the cTrader platform. The communication, disseminatedearlier today (Wednesday), provided instructions and details for the migration processimpacting approximately 4,700 individuals.
Traders have been instructed to ensure the closure of allopen trades by 4 PM EST to ensure accurate balance reflection within the newcTrader accounts. Failure to comply with this requirement would result inautomatic closure of open trades by the system.
— The Funded Trader (@thefundedtrader) March 13, 2024👑 Important Update 👑
In 5 minutes we will be sending an email to 4,700 people that will be migrated to cTrader today.
Please take note that as of 4PM EST today you must ensure that the following is complete:
▶️ Please close all open trades by 4PM EST to ensure the most up to…
The cTrader accounts being established for traders willmirror 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 theircTrader usernames via the account overview page of their dashboard, withadditional login details and instructions to be provided separately bySpotware, the company behind cTrader.
Furthermore, The Funded Trader reassured traders thatmigration to cTraderwould continue for those who have requested it, indicating an ongoingtransition process. Traders are encouraged to remain attentive to the providedinstructions to facilitate a smooth transition to the new platform.
The Funded Trader's DXTrade Launch
Earlier, TheFunded Trader, along with other proprietary trading firms migrated to DXTrade,enabling traders to access real-time insights, as reported by FinanceMagnates. This shift is part of a broader trend in the proprietary tradinglandscape. Led by the CEO, Angelo Ciaramello,, The Funded Trader offers account sizesranging from $5,000 to $400,000 with leverage options across variousinstruments. MyFundedFX was also migrating its clients' accounts to DXTradewith trading activities temporarily suspended during the transition. Users areadvised to close open transactions before the migration to prevent automaticclosure by the system.
Prop Trading Firms Navigate Challenges amid MetaQuotes'Compliance Measures
MetaQuotes' recent implementation of stricter compliancemeasures, particularly regarding US regulations, has sparked a series ofchallenges within the proprietary trading industry.
Various firms have found themselves reevaluating theirpartnerships with MetaQuotes in response to mounting worries about serving USclients. This increased scrutiny has led some proprietary firms to haltservices temporarily and explore alternative platforms to maintain regulatorycompliance and operational resilience.
