Compliance concerns prompted The5ers to temporarily halt onboarding traders in the US.
The5ers has assured its clients that efforts are underway to update its guidelines.
The5ers, a proprietary
trading firm, has temporarily ceased onboarding new traders in the US amid regulatory pressure. The company's action is in response to the evolving regulatory
concern surrounding the participation of US traders in the proprietary
trading space.
Citing the need for clarity on the legal
implications concerning proprietary trading in the US, the firm
emphasized ensuring compliance with regulatory requirements. Besides that, The5ers reassured its clients in the US that
efforts are underway to update guidelines to meet the needs of traders in the region.
Navigating Regulatory Uncertainty
In a post on X, the company mentioned: "Due to
recent events, we have made the difficult decision to suspend onboarding new US
traders. This measure will remain in effect until we have a clearer
understanding of the legal implications surrounding US individuals trading for
prop funds."
The5ers has urged patience as it works to adapt to
regulatory changes and provide clarity for its users in the region. The firm's decision
reflects the ongoing efforts by proprietary firms to address the regulatory
uncertainties in the sector.
Addressing possible misunderstandings among its
users, The5ers clarified a concern by one of its clients about a communication
shared earlier. It acknowledged the challenges in its decision due to the
turbulent times in the proprietary trading sector.
US Regulatory Scrutiny Impacts MetaTrader Licensees
The regulatory scrutiny against leveraged trading
services and CFDs has intensified in the US. A recent decision by MetaQuotes to enforce restrictions on proprietary trading firms using MetaTrader
licenses has sent shockwaves through the industry.
Blackbull Markets, a brokerage offering grey-labeled
MetaTrader services, was compelled to cut ties with Funding Pips due to its active accounts from the US. While not publicly acknowledged by MetaQuotes, this move reflected the company's stance on compliance with US regulations.
The termination of services to Funding Pips
underscores the challenges faced by brokers operating in the grey label space.
While Blackbull Markets facilitated simulated trading for Funding Pips via MT5
demo servers, the presence of clients from the US triggered the abrupt end of their
partnership.
Similarly, Smart Prop Trader recently announced its plans to migrate to multiple new brokers and integrate the cTrader trading
platform. This step happened amidst regulatory scrutiny
targeting prop trading firms.
Proprietary trading, which allows traders to leverage company funds in live markets, has traditionally
operated outside the scope of stringent financial regulations. However, recent
developments, including the lawsuit against My Forex Funds by the US commodities
regulator, have thrust proprietary trading into the regulatory spotlight.
The5ers, a proprietary
trading firm, has temporarily ceased onboarding new traders in the US amid regulatory pressure. The company's action is in response to the evolving regulatory
concern surrounding the participation of US traders in the proprietary
trading space.
Citing the need for clarity on the legal
implications concerning proprietary trading in the US, the firm
emphasized ensuring compliance with regulatory requirements. Besides that, The5ers reassured its clients in the US that
efforts are underway to update guidelines to meet the needs of traders in the region.
Navigating Regulatory Uncertainty
In a post on X, the company mentioned: "Due to
recent events, we have made the difficult decision to suspend onboarding new US
traders. This measure will remain in effect until we have a clearer
understanding of the legal implications surrounding US individuals trading for
prop funds."
The5ers has urged patience as it works to adapt to
regulatory changes and provide clarity for its users in the region. The firm's decision
reflects the ongoing efforts by proprietary firms to address the regulatory
uncertainties in the sector.
Addressing possible misunderstandings among its
users, The5ers clarified a concern by one of its clients about a communication
shared earlier. It acknowledged the challenges in its decision due to the
turbulent times in the proprietary trading sector.
US Regulatory Scrutiny Impacts MetaTrader Licensees
The regulatory scrutiny against leveraged trading
services and CFDs has intensified in the US. A recent decision by MetaQuotes to enforce restrictions on proprietary trading firms using MetaTrader
licenses has sent shockwaves through the industry.
Blackbull Markets, a brokerage offering grey-labeled
MetaTrader services, was compelled to cut ties with Funding Pips due to its active accounts from the US. While not publicly acknowledged by MetaQuotes, this move reflected the company's stance on compliance with US regulations.
The termination of services to Funding Pips
underscores the challenges faced by brokers operating in the grey label space.
While Blackbull Markets facilitated simulated trading for Funding Pips via MT5
demo servers, the presence of clients from the US triggered the abrupt end of their
partnership.
Similarly, Smart Prop Trader recently announced its plans to migrate to multiple new brokers and integrate the cTrader trading
platform. This step happened amidst regulatory scrutiny
targeting prop trading firms.
Proprietary trading, which allows traders to leverage company funds in live markets, has traditionally
operated outside the scope of stringent financial regulations. However, recent
developments, including the lawsuit against My Forex Funds by the US commodities
regulator, have thrust proprietary trading into the regulatory spotlight.
CySEC Reaches €50K Settlement with Fxview Operator Charlgate
Executive Interview with Elina Pedersen | Your Bourse | FMLS:24
Executive Interview with Elina Pedersen | Your Bourse | FMLS:24
Executive Interview with Elina Pedersen, Chief Revenue Officer at Your Bourse at the Finance Magnates London Summit 2024
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Executive Interview with Elina Pedersen, Chief Revenue Officer at Your Bourse at the Finance Magnates London Summit 2024
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Executive Interview with Rauan Khassan | TradingView | FMLS:24
Executive Interview with Rauan Khassan | TradingView | FMLS:24
Executive Interview with Rauan Khassan from TradingView at the Finance Magnates London Summit 2024
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Executive Interview with Rauan Khassan from TradingView at the Finance Magnates London Summit 2024
#fmls #fmls24 #fmevents #RetailTrading #FintechInnovation #nvidia #DigitalAssets #GlobalFinance #globalbanking
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Executive Interview with Nadia Edwards-Dashti | Harrington Star | FMLS:24
Executive Interview with Nadia Edwards-Dashti | Harrington Star | FMLS:24
Fintech Talent in the UK: The Human Factor Driving Industry Change 🌟
What does it take to attract, retain, and upskill the best fintech talent in today’s rapidly evolving UK market? In this engaging interview, Nadia Edwards-Dashti, Chief Customer Officer at Harrington Star, explores the future of talent recruitment, the rise of sales roles, and how AI is reshaping the industry—without replacing the human touch.
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Fintech Talent in the UK: The Human Factor Driving Industry Change 🌟
What does it take to attract, retain, and upskill the best fintech talent in today’s rapidly evolving UK market? In this engaging interview, Nadia Edwards-Dashti, Chief Customer Officer at Harrington Star, explores the future of talent recruitment, the rise of sales roles, and how AI is reshaping the industry—without replacing the human touch.
#fmls #fmls24 #fmevents #recruitment #financialcareers
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Executive Interview with Roberto Politano | Finnovate Finance | FMLS:24
Executive Interview with Roberto Politano | Finnovate Finance | FMLS:24
Executive Interview with Roberto Politano from Finnovate Finance at the Finance Magnates London Summit 2024
#fmls #fmls24 #fmevents #RetailTrading #FintechInnovation
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Executive Interview with Roberto Politano from Finnovate Finance at the Finance Magnates London Summit 2024
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#fmls #fmls24 #fmevents #cyptotrading #DigitalAssets #pepperstone
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