Following our report from last week that popular retail prop trading firm Funding Pips had ceased operations after MT4/MT5 developer MetaQuotes abruptly halted its services due to active US accounts, the company is indicating that it is in the process of adding a number of alternative trading platforms for its clients.
In a Discord message, Funding Pips CEO Khaled Ayesh stated that the company is adding trading platforms (in order) Match-Trader, cTrader, DXtrade, as well as TradeLocker. Ayesh said that after the migration [ed: of client accounts] and adding all platforms, traders will be given the freedom to choose which platform they want to use.
In a separate Discord message, Khaled Ayesh said Funding Pips will be back “in 10 days max”. That message was issued early on February 16.
The move by Funding Pips comes as Cyprus based MetaQuotes, developer of the MT4 and MT5 trading platforms and apps, is continuing to inform its brokerage clients that it no longer wants “prop business” on its platforms, and that it will revoke licenses of brokers that allow prop trading clients to trade on MT4 or MT5.
Why is MetaQuotes cutting off prop trading business?
The following video put out by well-followed FX industry analyst Boris Schlossberg of BKTraders explains the situation, and what it might mean for the future of the prop industry.
