The chaos in the prop trading industry is hitting all the companies one by one, as Blue Guardian became the latest one to restrict new account registration for US clients. The newly imposed restriction will apply to both “US residents and individuals with dual citizenship residing in the US.”
However, the prop platform will continue to offer services to its existing US clients and the ones outside the US.
“As of now, new account registrations are restricted for US clients,” the prop trading firm stated today (Tuesday) in a tweet. “Existing US clients can continue trading without interruption until further notice. Clients outside the US remain unaffected.”
The Crackdown by MetaQuotes
Although the company did not specify, the move is aligned with the alleged crackdown by MetaQuotes Software, the provider of two MetaTrader trading platforms. Several prop trading firms have restricted their services to US clients in the past couple of weeks as MetaQuotes is allegedly forcing the license holders of its platforms to either stop offering services in the US or risk losing their licenses.
Some of the top prop firms to recently restrict US clients in some way are FTMO, The5ers, Alpha Capital Group, MyFundedFX, Audacity Capital, and many more. Bespoke was another prop trading firm that ended support for the US clients hours before Blue Guardian.
Integrating Other Trading Platforms
As a remedy, many prop trading firms are now integrating MetaTrader rivals for their services in the US, including DXtrade, cTrader, Match-Trade, and more. Additionally, Blue Guardian confirmed that it will integrate DXtrade by the end of February to reopen services to US clients.
“We recognize the complexities of this situation and are actively working to offer additional solutions for our valued US traders,” Blue Guardian added. “We are scheduled to have DX Trade added by the end of this month, so US clients will be welcomed back.”
