The Funded Trader has joined some of its peers in the proprietary industry in migrating to DXTrade. According to an announcement by the company on X, this step has enabled traders to receive real-time insights. It followed similar moves by other proprietary trading firms, including Swift Funding.
The Funded Trader mentioned: "Soon, we'll be launching DXTrade, and this will change your trading experience forever! With cutting-edge technology and features specifically designed to revolutionize your trading experience, DXTrade brings speed, efficiency, and smooth trading to your experience."
Shifting Proprietary Trading Landscape
The Funded Trader, under the stewardship of the CEO Angelo Ciaramello, is a proprietary trading platform in the United States. According to propfirmmatch.com, the firm has been in operation for two years.
The Funded Trader offers account sizes from $5,000 to $400,000. Leveraging instruments such as forex, commodities, indices, and cryptocurrencies, traders navigate varying leverage options across different account types and phases on the platform.
Among the proprietary trading firms migrating to DXTrade is MyFundedFX. The firm plans to migrate its clients' accounts commencing on February 23, 2024.
During this transition, all trading activities will be temporarily suspended to facilitate a smooth transfer of accounts to the DXtrade platform, the company mentioned. The firm has advised its users to close any open transaction before the migration commences to avoid automatic closure by the system.
Prop Trading Firms Navigate Migration Challenges
MetaQuotes' recent efforts to enforce stricter compliance measures, particularly concerning US regulations, have triggered a cascade of repercussions within the proprietary trading industry.
Several firms have been compelled to reevaluate their relationship with MetaQuotes amidst growing concerns over serving US clients. The heightened scrutiny has prompted some proprietary firms to suspend services and seek alternative platforms to ensure regulatory compliance and operational stability.
