UK based prop trading firm Stocknet Institute, which also operates under the brand SI World (websites stocknetinstitute.com and siworld.io), has announced that it has started the process of winding down its operations with the goal of permanently closing. Plan purchasing has been disabled, and all active clients will be emailed regarding their account closure.
The Stocknet / SI World closure is the latest in a series of prop trading / funded trader account firms to either suspend operations or shut altogether, in what has become an increasingly competitive and somewhat difficult environment for prop firms, despite the general overall growth in popularity of retail prop trading and funded accounts. Other recent closures or service suspensions include at SurgeTrader, True Forex Funds, Skilled Funded Traders, and The Funded Trader.
FNG received a copy of the email sent out by Stocknet Institute to its clients, which reads as follows:
Dear Valued Client,
It is with mixed emotions that we write to inform you of a significant development at Stocknet Institute. After much consideration and strategic planning, we have decided to formally begin the process of winding down our operations, with the goal of permanently closing.
This decision stems from a strategic pivot as the business moves in a new direction. We want to emphasise that the business is in a healthy position and this transition reflects our commitment to pursuing new opportunities that align with our long-term vision. Throughout our three years of operating in this industry, we have taken great pleasure in being part of our client’s journeys. However, we are now making a permanent move away from the Prop Trading industry and we are dedicated to managing this in an ethical manner.
Effective immediately, we will no longer be taking on new clients and plan purchasing has been disabled. For our existing clients, we have established a clear process to manage the firm’s closure:
- Clients whose account is in a ‘surplus’ – meaning they have received more in payouts than they have paid – will be emailed today, Thursday 4th July, with details regarding the closure of their accounts.
- Clients whose account is in a ‘deficit’ – meaning they have not received payouts exceeding what they have paid – will be emailed today, Thursday 4th July, with detailed instructions on the process of their account closure.
As part of this transition, we are also announcing that our in-house prop trading technology IP is available for sale. If this may be of interest to you, your business or somebody you know, please do not hesitate to contact us for more details at partners@siworld.io.
We extend our heartfelt gratitude to all of our clients and stakeholders for your unwavering support and trust in Stocknet Institute over the years. Your partnership has been integral to our success, and we are deeply appreciative of the relationships we have built.
Thank you for being a part of Stocknet Institute. We wish you all the best in your future endeavours and look forward to watching this industry grow from afar, to the benefit of millions of aspiring traders worldwide.
Yours sincerely,
Stocknet Institute
