In the face
of numerous recent retail prop firm failures or suspensions of their operations
due to licensing issues with trading platforms, one entity has offered to take
over all troubled entities. However, Astra Capital Group sets one condition.
Astra Capital Group Wants
to Acquire Prop Firms
Last
weekend, Astra Capital announced that it is “ready to acquire any prop
firm that shuts down or pauses operations, taking on all their traders”
and onboarding them to its platform.
The
potential migration would take a maximum of two days, allowing clients to
continue trading and struggling business owners to generate some revenue.
Announcement
We are ready to acquire any prop firm that shuts down or pauses operations, taking on all their traders and onboarding them to our platform. Additionally, the migration would take only 1-2 days, depending on the size of the prop firm and the time of the agreement,…
— Astra Capital Group (@AstraFunding) August 15, 2024
In return,
Astra expects a 70% share of challenge fees from active traders. “Our risk
management team will determine which firms have a healthy number of funded
traders and account sizes,” they wrote in a subsequent post. “Based
on the 70% of all challenge fees and further risk calculations, we will make
our decision. We will not simply do this for free.”
To clarify, we will not be doing this for free. If the prop firm is willing to offer 70% of the challenge fees for all its active traders, our risk management team will determine which firms have a healthy number of funded traders and account sizes. Based on the 70% of all…
— Astra Capital Group (@AstraFunding) August 16, 2024
Astra
Capital has only been in the market since early 2024, but it has since introduced its own technology, which allowed it to launch its proprietary trading platform
Trading Platform
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real
Read this Term, Astra X, which is currently available for desktop computers and mobile devices.
The company
also offers payment cards in cooperation with Visa and has announced the launch
of an additional futures trading platform within the next three weeks. Its
advertisements regularly appear on large billboards in New York's Times Square.
20 Prop Firms Closed in
One Week
Astra
Capital's offer comes at a time when allegedly 20 different prop firms
announced closures or suspensions of operations in one week.
The
decision was prompted by MetaQuotes' move to crack down on trading companies by
suspending their licenses for trading products, including the popular MetaTrader
platform. Many firms grey-labeled access to MT4 and 5 through regulated FX/CFD brokers, and it
appears that MetaQuotes has started to address this issue more thoroughly.
One of the
firms that disappeared from the market for this reason was Funds For Traders. At the same
time, Indigo Trader Funding and Karma Prop Traders also announced their exit
from the market.
Data from the latest survey conducted by PipFarm shows that a
maximum of 40% of clients earn money on prop firm challenges, while the rest
are capital providers.
In the face
of numerous recent retail prop firm failures or suspensions of their operations
due to licensing issues with trading platforms, one entity has offered to take
over all troubled entities. However, Astra Capital Group sets one condition.
Astra Capital Group Wants
to Acquire Prop Firms
Last
weekend, Astra Capital announced that it is “ready to acquire any prop
firm that shuts down or pauses operations, taking on all their traders”
and onboarding them to its platform.
The
potential migration would take a maximum of two days, allowing clients to
continue trading and struggling business owners to generate some revenue.
Announcement
We are ready to acquire any prop firm that shuts down or pauses operations, taking on all their traders and onboarding them to our platform. Additionally, the migration would take only 1-2 days, depending on the size of the prop firm and the time of the agreement,…
— Astra Capital Group (@AstraFunding) August 15, 2024
In return,
Astra expects a 70% share of challenge fees from active traders. “Our risk
management team will determine which firms have a healthy number of funded
traders and account sizes,” they wrote in a subsequent post. “Based
on the 70% of all challenge fees and further risk calculations, we will make
our decision. We will not simply do this for free.”
To clarify, we will not be doing this for free. If the prop firm is willing to offer 70% of the challenge fees for all its active traders, our risk management team will determine which firms have a healthy number of funded traders and account sizes. Based on the 70% of all…
— Astra Capital Group (@AstraFunding) August 16, 2024
Astra
Capital has only been in the market since early 2024, but it has since introduced its own technology, which allowed it to launch its proprietary trading platform
Trading Platform
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real
Read this Term, Astra X, which is currently available for desktop computers and mobile devices.
The company
also offers payment cards in cooperation with Visa and has announced the launch
of an additional futures trading platform within the next three weeks. Its
advertisements regularly appear on large billboards in New York's Times Square.
20 Prop Firms Closed in
One Week
Astra
Capital's offer comes at a time when allegedly 20 different prop firms
announced closures or suspensions of operations in one week.
The
decision was prompted by MetaQuotes' move to crack down on trading companies by
suspending their licenses for trading products, including the popular MetaTrader
platform. Many firms grey-labeled access to MT4 and 5 through regulated FX/CFD brokers, and it
appears that MetaQuotes has started to address this issue more thoroughly.
One of the
firms that disappeared from the market for this reason was Funds For Traders. At the same
time, Indigo Trader Funding and Karma Prop Traders also announced their exit
from the market.
Data from the latest survey conducted by PipFarm shows that a
maximum of 40% of clients earn money on prop firm challenges, while the rest
are capital providers.
