CK Capital, a UK-based prop trading company, has announced its expansion into North America, accepting clients from the United States and Canada. This move comes just months after the firm's initial launch.
CK Capital Expands into New Markets
Founded in April 2024 by Daniel Cheung, a financial influencer who runs his own WChampFX investment school, CK Capital is joining the prevalent 2024 trend of trader-funded firms (TFFs). Cheung, previously associated with the UK’s branch of IronFX for a year, has reportedly designed CK Capital to offer a 100% profit split and SPT spreads.
The firm, which initially focused on traders from Europe and Asia, is now broadening its scope to include investors from the US and Canada. This expansion into the American market could be a significant move, considering that, according to industry experts, approximately one in five prop traders hails from the United States.
UK Companies House records show that the brand operates under CK Capital Group Ltd, incorporated five months ago with a nominal capital of £1. The company is registered in Harpenden, a small town north of London.
Finance Magnates reported at the beginning of this week that prop firm QuantTekel introduced broker services after rebranding from AscendX Capital. This news highlights the ongoing changes and developments in the prop trading industry, with firms expanding their services and rebranding to better position themselves in the market.
The Ebb and Flow of Prop Firms
2024 has seen the launch of several prop trading firms, though not all have enjoyed longevity. Karma Prop Traders, for instance, launched at the beginning of the year but suspended operations in August due to liquidity issues. However, its clients weren't left stranded as the business was acquired by Sway Funded.
Meanwhile, Crypto Fund Trader, a prop trading firm with a cryptocurrency twist, officially launched its services based on a digital assets futures platform on August 1, 2024.
In other industry news, Finance Magnates exclusively reported that former XM veteran Desimir Paskalev decided to launch his own prop firm, FundedBull. After 10 years in the CFD industry, Paskalev ventured out on his own, asserting that prop trading is the future of the retail investment industry.
Brokers have long recognized this trend. Currently, over five different CFD firms offer prop trading to their clients, including OANDA, Hantec, IC Markets, and AXI. A comparison of their offerings is available here.
