In a move anticipated since earlier this year, IC Markets has initiated the soft launch of its proprietary trading offering. The new platform, accessible through the URL ICFunded.com, is currently in beta mode, welcoming clients to sign up and explore its features.

Expanding Services with Prop Trading Initiative

According to insights obtained by TradeInformer, the product has been operational for over a week and has already garnered notable interest from existing clients. The introduction of IC Markets into the prop trading arena adds another name to the list of brokers venturing into this domain. Joining the likes of Axi, Oanda, and Hantec Markets, as well as smaller entities like Raise FX and YaMarkets, IC Markets signifies the growing trend among brokers to offer funded trader programs.

Despite the burgeoning interest in prop trading offerings, the sector finds itself navigating a regulatory grey area. Most providers, including IC Markets, are currently furnishing demo accounts, which, crucially, remain outside the purview of regulatory oversight across jurisdictions.

However, it is worth noting that many firms, including IC Markets, are adopting strategies to maintain a degree of separation from end clients or are establishing the funded component of their services offshore. This approach allows them to operate within a framework that mitigates regulatory concerns while still extending lucrative opportunities to traders.

Prop Trading Sector in Turmoil amid Allegations of MetaQuotes

The landscape of prop trading is undergoing upheaval amid reports of MetaQuotes, the company behind MetaTrader platforms, tightening its grip, as reported by Finance Magnates. Despite no official confirmation from the Cyprus-based firm, prop trading firms and their brokerage partners have swiftly reported the termination of their collaborations.

The core issue appears to center on the presence of active US clients on prop trading platforms. While MetaQuotes has not publicly acknowledged these measures, an unverified email purportedly from one of its representatives has circulated, suggesting that platforms using MetaTrader 5 and operating in the USA must comply with FINRA or NFA regulations, even if solely for educational purposes.