Instant Funding, a proprietary trading firm, has announced via their social media platform X (formerly Twitter) that significant changes are underway regarding their trading platform for American clients. The alteration stems from a recent decision by their partner broker, ThinkMarkets.
Trading Platform Transition: Changes for US Proprietary Firm Clients
Effective at the conclusion of the trading session on Friday, February 23, ThinkMarkets will discontinue its services to clients of proprietary firms in the United States. This action aligns with a directive from Instant Funding's current trading platform provider.
“As of the end of the trading session on Friday, February 23, ThinkMarkets will cease to provide services to prop firms’ clients in the United States, in compliance with a request from our current trading platform provider,” shared on platform X.
While this development may prompt concerns among traders, Instant Funding seeks to reassure its clientele that measures have been taken to mitigate potential disruptions to their trading activities.
As part of the strategy, Instant Funding intends to introduce DXtrade, an alternative trading platform, which will be available not only to US traders but also as an additional option globally. While a transition period of up to three weeks is anticipated, the firm assures clients that efforts are underway to expedite the process. Existing American traders with active accounts will retain their accounts throughout the transition.
US Service Restrictions from ThinkMarkets and Others
In recent weeks, a wave of restrictions on services to US clients of proprietary trading firms has been unfolded, with ThinkMarkets joining others in this move, as reported by Finance Magnates. While Purple Trading and Blackbull terminated offerings to prop firms entirely, ThinkMarkets continues to provide services outside the US. There's speculation regarding Eightcap, with claims of a complete service termination by the end of February, although the brokerage hasn't confirmed this.
The unrest stems from alleged pressure from MetaQuotes, suspected of wanting to prevent its trading platforms from being used by US traders. While MetaQuotes hasn't officially confirmed anything, reports from various prop trading firms, including Blackbull Markets, suggest they were compelled to cease services to US customers. Other notable firms implementing similar restrictions include The5ers, FTMO, Blue Guardian, Audacity Capital, Alpha Capital, among others.
