In a recent update shared on social media platform X (formerly known as Twitter), The Funded Trader announced plans for a significant migration to the cTrader platform. The communication, disseminated earlier today (Wednesday), provided instructions and details for the migration process impacting approximately 4,700 individuals.

cTrader Accounts to Reflect DXtrade Balances

Traders have been instructed to ensure the closure of all open trades by 4 PM EST to ensure accurate balance reflection within the new cTrader accounts. Failure to comply with this requirement would result in automatic closure of open trades by the system.

The cTrader accounts being established for traders will mirror the account type and balance of their DXtrade accounts as of 4 PM EST, following the closure of all positions. Traders are directed to locate their cTrader usernames via the account overview page of their dashboard, with additional login details and instructions to be provided separately by Spotware, the company behind cTrader.

Furthermore, The Funded Trader reassured traders that migration to cTrader would continue for those who have requested it, indicating an ongoing transition process. Traders are encouraged to remain attentive to the provided instructions to facilitate a smooth transition to the new platform.

The Funded Trader's DXTrade Launch

Earlier, The Funded Trader, along with other proprietary trading firms migrated to DXTrade, enabling traders to access real-time insights, as reported by Finance Magnates. This shift is part of a broader trend in the proprietary trading landscape. Led by the CEO, Angelo Ciaramello,, The Funded Trader offers account sizes ranging from $5,000 to $400,000 with leverage options across various instruments. MyFundedFX was also migrating its clients' accounts to DXTrade with trading activities temporarily suspended during the transition. Users are advised to close open transactions before the migration to prevent automatic closure by the system.

Prop Trading Firms Navigate Challenges amid MetaQuotes' Compliance Measures

MetaQuotes' recent implementation of stricter compliance measures, particularly regarding US regulations, has sparked a series of challenges within the proprietary trading industry.

Various firms have found themselves reevaluating their partnerships with MetaQuotes in response to mounting worries about serving US clients. This increased scrutiny has led some proprietary firms to halt services temporarily and explore alternative platforms to maintain regulatory compliance and operational resilience.