cTrader Restricts US Prop Firm Access Following "Internal Regulatory Assessment"

Over the past few months, US retail prop firms have been quietly revising their onboarding policies, indicating that they will no longer offer cTrader accounts to new clients within the jurisdiction.

The5ers, for instance, which migrated to cTrader following the MetaQuotes upheaval of 2024, updated its guidelines in June. The firm now categorises cTrader as an option restricted exclusively to non-US clients.

Other industry players, such as FundedNext, have maintained similar restrictions since the spring. “Effective from 31.03.2026, US-based traders will no longer be able to purchase new accounts on the cTrader platform,” the firm’s policy update states.

Notably, FundedNext has directed its American clientele toward the Match-Trader platform for new account acquisitions.

Similarly, Goat Funded Trader, which amended its terms in April to exclude US clients from cTrader access, now lists Match-Trader, TradeLocker and Volumetrica as the primary platforms available for the US market.

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In a statement to Finance Magnates, a spokesperson for Spotware, the developer of cTrader, confirmed the move:

“We previously permitted proprietary trading firms to onboard traders residing in the United States on the cTrader Platform, provided that certain criteria were met. Following an internal regulatory assessment during the first quarter of 2026, we made the strategic decision to restrict the onboarding of US-based traders on the platform. This approach reflects our ongoing commitment to ensure that our operations remain aligned with our internal compliance and risk management framework.”

Is cTrader following the MetaQuotes playbook?

The current situation echoes the MetaQuotes crackdown of 2024.

When access to MT4 and MT5 was restricted for US-based prop traders, cTrader emerged as one of the beneficiaries.

While Spotware does not typically release granular performance data, the company noted in 2025 that “live USD trading volume on cTrader grew by 105%,” citing a surge in activity across both the brokerage and prop trading segments.

The migration of US prop firms was surely part of that growth.

The MetaQuotes exit was reportedly driven by several factors, including the "grey-labelling" of licences to prop firms, where retail brokers rented server space without explicit authorisation from the developer.

Furthermore, the CFTC’s aggressive stance, highlighted by the 2023 raid and asset freeze of My Forex Funds, might have altered the risk appetite for the platform provider.

According to FM Intelligence, between early 2024 and late 2025, an estimated 100 prop firms ceased operations, representing a 14% contraction of the market. The MetaQuotes withdrawal was a primary catalyst for this consolidation.

Whether the cTrader pull-out will result in a similar market contraction remains to be seen.