Prop-ageddon: Is Your Prop Firm Still Online? Real Time Updates

by Damian Chmiel
  • MetaQuotes ended support for proprietary trading, causing industry turmoil.
  • Check the Finance Magnates live table with a list of the largest companies.
prop-1

The unexpected decision by MetaQuotes to withdraw support for proprietary trading landed on the industry like a bolt from the blue. It caused huge turmoil, leaving many questions unanswered and truly dark clouds hanging over the future of prop firms. Let's say that the word "challenge" has, in the funded trading space, a whole new meaning.

The situation is changing daily with new information about subsequent prop firms unable to service US-based clients or desperately trying to find alternative solutions.

To help you stay up to date, Finance Magnates has gathered all the essential information in one place.

Who's Operating and Who's Out? Finance Magnate's Prop Firms Table

In the table below, you will find information about which prop firms are currently operational, which are suspended, and which accept clients from the USA. The information is updated regularly.

Prop Firm

Open for Business

Available Platforms

Servicing New US Clients

Servicing Existing US Clients

Funded Engineer Yes (Partially) MT4 and MT5 YES YES
Funding Pips YES MT4, MT5 and Match-Trader (migrating) NO NO
Smart Prop Trader YES MT4. MT5, cTrader (migrating) NO YES
The5ers YES MT5, Match-Trader (migrating) NO NO
Crypto Fund Trader YES MT5, Crypto Fund Trader (CFT) Platform, Match-Trader YES (excluding MT5) YES (excluding MT5)
Audacity Capital YES MT4 and MT5 NO YES
Blue Guardian YES MT4 and MT5, DXtrade (migrating), Match-Trader (migrating) NO YES
AquaFunded YES MT4 and MT5, DXtrade (migrating) NO YES
Funding Traders YES MT4 and MT5 YES YES
Maven YES MT4 and MT5, Match-Trader (migrating) YES YES
Swift Funding YES MT4 YES YES
Bespoke YES MT4 and MT5 YES YES
Funded Next YES MT4 and MT5 YES YES
Funded Trading Plus (FT+) YES MT4 and MT5 YES YES
FTMO YES MT4, MT5, DXtrade (migrating) NO NO
Alpha Capital Group YES MT5 NO NO
MyFundedFX YES MT4, MT5, DXtrade (migrating) YES (excluding MT4/5) YES (excluding MT4/5)
The Funded Trader YES MT4, MT5, DXtrade, cTrader YES (excluding MT4/5) YES (excluding MT4/5)
City Traders Imperium YES MT5 YES YES
E8 Markets YES MT4, MT5, cTrader, DXtrade, Match-Trader YES YES
Earn2Trade YES NinjaTrader, Finamark, R | Trader & R | Trader Pro, Overcharts YES YES
EliteTrader Funding YES NinjaTrader, TradingView YES YES
FXIFY YES MT4, MT5 NO NO
For Traders YES MT4, MT5, DXTrade (migrating) NO NO
Glow Node YES MT4, MT5, Match-Trader YES YES
Goat Funded Trader YES MT4, MT5, cTrader, DxTrade YES YES
Instant Funding YES MT4, MT5, DXtrade (migrating) NO NO
Lark Funding YES MT4, MT5, DXtrade, cTrader YES YES
Ment Funding YES MT4, MT5 YES YES
My Flash Funding YES MT4, MT5 YES YES
Apex Trader Funding YES NinjaTrader YES YES
UWM YES MT4, MT5, DXtrade (migrating) YES YES
True Forex Funds YES cTrader NO NO
Traders Launch YES Proprietary Web Platform, Interactive Brokers IBKR Pro, Sterling Trader Pro YES YES
TradeDay YES Tradovate, NinjaTrader, TradingView, Jigsaw YES YES
The Trading Pit YES MT4, MT5, StereoTrader YES (futures challenges) YES (futures challenges)
Traddoo YES MT5, TradeLocker (migrating) NO NO
Topstep YES NinjaTrader, Quantower YES YES
Trade The Pool YES Trader Evolution YES YES
BuoyTrade YES MT4 YES YES
Surge Trader YES MT4, MT5, TradingView YES YES
Skilled Funded Traders YES MT4, MT5, cTrader, DXTrade YES YES
TradersEdgeFX YES MT4, MT5 YES YES
Dei Funded YES MT4, MT5 YES YES
Fidelcrest YES MT4, MT5 YES YES
OneUp Trader YES R | Trader, Jigsaw YES YES
LuxTradingFirm YES MT5 YES YES
T4TCapital YES MT4 YES YES
SabioTrade YES Quadcode YES YES
Fintokei YES MT4, MT5 NO NO

Prop Firm

Open for Business

Available Platforms

Servicing New US Clients

Servicing Existing US Clients

Funded Engineer Yes (Partially) MT4 and MT5 YES YES
Funding Pips YES MT4, MT5 and Match-Trader (migrating) NO NO
Smart Prop Trader YES MT4. MT5, cTrader (migrating) NO YES
The5ers YES MT5, Match-Trader (migrating) NO NO
Crypto Fund Trader YES MT5, Crypto Fund Trader (CFT) Platform, Match-Trader YES (excluding MT5) YES (excluding MT5)
Audacity Capital YES MT4 and MT5 NO YES
Blue Guardian YES MT4 and MT5, DXtrade (migrating), Match-Trader (migrating) NO YES
AquaFunded YES MT4 and MT5, DXtrade (migrating) NO YES
Funding Traders YES MT4 and MT5 YES YES
Maven YES MT4 and MT5, Match-Trader (migrating) YES YES
Swift Funding YES MT4 YES YES
Bespoke YES MT4 and MT5 YES YES
Funded Next YES MT4 and MT5 YES YES
Funded Trading Plus (FT+) YES MT4 and MT5 YES YES
FTMO YES MT4, MT5, DXtrade (migrating) NO NO
Alpha Capital Group YES MT5 NO NO
MyFundedFX YES MT4, MT5, DXtrade (migrating) YES (excluding MT4/5) YES (excluding MT4/5)
The Funded Trader YES MT4, MT5, DXtrade, cTrader YES (excluding MT4/5) YES (excluding MT4/5)
City Traders Imperium YES MT5 YES YES
E8 Markets YES MT4, MT5, cTrader, DXtrade, Match-Trader YES YES
Earn2Trade YES NinjaTrader, Finamark, R | Trader & R | Trader Pro, Overcharts YES YES
EliteTrader Funding YES NinjaTrader, TradingView YES YES
FXIFY YES MT4, MT5 NO NO
For Traders YES MT4, MT5, DXTrade (migrating) NO NO
Glow Node YES MT4, MT5, Match-Trader YES YES
Goat Funded Trader YES MT4, MT5, cTrader, DxTrade YES YES
Instant Funding YES MT4, MT5, DXtrade (migrating) NO NO
Lark Funding YES MT4, MT5, DXtrade, cTrader YES YES
Ment Funding YES MT4, MT5 YES YES
My Flash Funding YES MT4, MT5 YES YES
Apex Trader Funding YES NinjaTrader YES YES
UWM YES MT4, MT5, DXtrade (migrating) YES YES
True Forex Funds YES cTrader NO NO
Traders Launch YES Proprietary Web Platform, Interactive Brokers IBKR Pro, Sterling Trader Pro YES YES
TradeDay YES Tradovate, NinjaTrader, TradingView, Jigsaw YES YES
The Trading Pit YES MT4, MT5, StereoTrader YES (futures challenges) YES (futures challenges)
Traddoo YES MT5, TradeLocker (migrating) NO NO
Topstep YES NinjaTrader, Quantower YES YES
Trade The Pool YES Trader Evolution YES YES
BuoyTrade YES MT4 YES YES
Surge Trader YES MT4, MT5, TradingView YES YES
Skilled Funded Traders YES MT4, MT5, cTrader, DXTrade YES YES
TradersEdgeFX YES MT4, MT5 YES YES
Dei Funded YES MT4, MT5 YES YES
Fidelcrest YES MT4, MT5 YES YES
OneUp Trader YES R | Trader, Jigsaw YES YES
LuxTradingFirm YES MT5 YES YES
T4TCapital YES MT4 YES YES
SabioTrade YES Quadcode YES YES
Fintokei YES MT4, MT5 NO NO

Have you learned about a prop firm that suspended operations or stopped accepting US-based clients? Feel free to let us know in the comments section below!

What Happened? Prop Turmoil, Explained

It all started on February 14th when one of the popular trader funding firms (TFFs), Funding Pips, abruptly closed trading and stopped services for all traders.

As it turned out, MetaQuotes suddenly started cracking down on prop trading companies that relied heavily on the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5 ) platforms. The CEO of Funding Pips, Khaled Ayesh, issued the following statement:

As Finance Magnates discovered, it's about licensing issues. TFFs offer their services to US-based clients, which requires additional authorization. As you might guess, they usually don't have them.

Some firms circumvented this through an intelligent approach by using other entities' licenses. An example is Blackbull, which grey-labeled its own MetaTrader license to prop trading companies like Funding Pips. Meanwhile FTMO, the "grandpa of prop trading" on Twitter, gained attention, but MetaQuotes eventually finally decided to curb this process.

The whole case is thoroughly explained in the video below by Boris Schlossberg, the Managing Director at BK Asset Management. As he explains, MetaQuotes is not doing this in bad faith but simply looking after its interests.

"They don't want to be in the prop space" because it carries the risk of violating the strict US regulations that the company wants to a void. Especially, after its mobile app was thrown out of the American Apple's App Store over a year ago.

What was the effect? Mayhem. Within just one week, prop firms' US-based clients (and sometimes other jurisdictions too) lost access to their accounts, and the industry began a panic attempt to migrate to alternative solutions offered by the likes of Match-Trade Technologies (Match-Trader) and Spotware Systems (cTrader).

DXtrade's Evgeny Sorokin has penned a thoughtful piece about the reasons other technology providers are after the funded trader business that MetaQuotes has abandoned. Some companies, on the flip side, have predicted that this is the end of the current prop trading model that worked for years.

prop-2

Prop Firms FAQ

What Happened with MetaQuotes and Prop Firms?

MetaQuotes, the company behind the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, abruptly started cracking down on prop trading companies that were using their platforms without proper licensing. Many of these prop firms were servicing US-based clients without authorization from US regulators. MetaQuotes decided to halt services to these companies to avoid potential legal issues.

What Does MetaQuotes’ Decision Mean for Prop Traders Using MT4/MT5?

MetaQuotes' recent policy changes mean that prop trading firms using MetaTrader 4 and MetaTrader 5 platforms may have to halt operations or migrate to alternative trading platforms if they service US clients.

Can US-Based Clients Still Participate in Prop Trading?

US-based clients face restrictions from many prop trading firms due to regulatory concerns and MetaQuotes' crackdown, though some firms are finding alternative platforms to continue servicing US clients.

prop-3

What Alternative Platforms Are Prop Firms Moving To?

With MetaQuotes pulling support, prop firms are migrating to alternative platforms like cTrader from Spotware and Match-Trader from Match-Trade Technologies. Some firms like Crypto Fund Trader have their own proprietary platforms as well.

How Can Traders Stay Updated on Which Prop Firms Are Still Operating?

Finance Magnates continuously updates a live table of prop firms, showing which ones are still in business and their current platform availability. Checking with individual prop firm websites is also recommended.

What Should I Do If My Prop Firm Account Was Suspended?

Check with your prop firm directly for guidance. Many are working as quickly as possible to migrate accounts to new platforms. You may need to complete new account opening formalities. Ensure you withdraw any available account balance if possible while waiting.

What Are the Implications for Non-US Traders?

Non-US traders may see minimal immediate impact, though the platform changes and the overall industry shift could influence the availability and terms of prop trading opportunities worldwide.

The unexpected decision by MetaQuotes to withdraw support for proprietary trading landed on the industry like a bolt from the blue. It caused huge turmoil, leaving many questions unanswered and truly dark clouds hanging over the future of prop firms. Let's say that the word "challenge" has, in the funded trading space, a whole new meaning.

The situation is changing daily with new information about subsequent prop firms unable to service US-based clients or desperately trying to find alternative solutions.

To help you stay up to date, Finance Magnates has gathered all the essential information in one place.

Who's Operating and Who's Out? Finance Magnate's Prop Firms Table

In the table below, you will find information about which prop firms are currently operational, which are suspended, and which accept clients from the USA. The information is updated regularly.

Prop Firm

Open for Business

Available Platforms

Servicing New US Clients

Servicing Existing US Clients

Funded Engineer Yes (Partially) MT4 and MT5 YES YES
Funding Pips YES MT4, MT5 and Match-Trader (migrating) NO NO
Smart Prop Trader YES MT4. MT5, cTrader (migrating) NO YES
The5ers YES MT5, Match-Trader (migrating) NO NO
Crypto Fund Trader YES MT5, Crypto Fund Trader (CFT) Platform, Match-Trader YES (excluding MT5) YES (excluding MT5)
Audacity Capital YES MT4 and MT5 NO YES
Blue Guardian YES MT4 and MT5, DXtrade (migrating), Match-Trader (migrating) NO YES
AquaFunded YES MT4 and MT5, DXtrade (migrating) NO YES
Funding Traders YES MT4 and MT5 YES YES
Maven YES MT4 and MT5, Match-Trader (migrating) YES YES
Swift Funding YES MT4 YES YES
Bespoke YES MT4 and MT5 YES YES
Funded Next YES MT4 and MT5 YES YES
Funded Trading Plus (FT+) YES MT4 and MT5 YES YES
FTMO YES MT4, MT5, DXtrade (migrating) NO NO
Alpha Capital Group YES MT5 NO NO
MyFundedFX YES MT4, MT5, DXtrade (migrating) YES (excluding MT4/5) YES (excluding MT4/5)
The Funded Trader YES MT4, MT5, DXtrade, cTrader YES (excluding MT4/5) YES (excluding MT4/5)
City Traders Imperium YES MT5 YES YES
E8 Markets YES MT4, MT5, cTrader, DXtrade, Match-Trader YES YES
Earn2Trade YES NinjaTrader, Finamark, R | Trader & R | Trader Pro, Overcharts YES YES
EliteTrader Funding YES NinjaTrader, TradingView YES YES
FXIFY YES MT4, MT5 NO NO
For Traders YES MT4, MT5, DXTrade (migrating) NO NO
Glow Node YES MT4, MT5, Match-Trader YES YES
Goat Funded Trader YES MT4, MT5, cTrader, DxTrade YES YES
Instant Funding YES MT4, MT5, DXtrade (migrating) NO NO
Lark Funding YES MT4, MT5, DXtrade, cTrader YES YES
Ment Funding YES MT4, MT5 YES YES
My Flash Funding YES MT4, MT5 YES YES
Apex Trader Funding YES NinjaTrader YES YES
UWM YES MT4, MT5, DXtrade (migrating) YES YES
True Forex Funds YES cTrader NO NO
Traders Launch YES Proprietary Web Platform, Interactive Brokers IBKR Pro, Sterling Trader Pro YES YES
TradeDay YES Tradovate, NinjaTrader, TradingView, Jigsaw YES YES
The Trading Pit YES MT4, MT5, StereoTrader YES (futures challenges) YES (futures challenges)
Traddoo YES MT5, TradeLocker (migrating) NO NO
Topstep YES NinjaTrader, Quantower YES YES
Trade The Pool YES Trader Evolution YES YES
BuoyTrade YES MT4 YES YES
Surge Trader YES MT4, MT5, TradingView YES YES
Skilled Funded Traders YES MT4, MT5, cTrader, DXTrade YES YES
TradersEdgeFX YES MT4, MT5 YES YES
Dei Funded YES MT4, MT5 YES YES
Fidelcrest YES MT4, MT5 YES YES
OneUp Trader YES R | Trader, Jigsaw YES YES
LuxTradingFirm YES MT5 YES YES
T4TCapital YES MT4 YES YES
SabioTrade YES Quadcode YES YES
Fintokei YES MT4, MT5 NO NO

Prop Firm

Open for Business

Available Platforms

Servicing New US Clients

Servicing Existing US Clients

Funded Engineer Yes (Partially) MT4 and MT5 YES YES
Funding Pips YES MT4, MT5 and Match-Trader (migrating) NO NO
Smart Prop Trader YES MT4. MT5, cTrader (migrating) NO YES
The5ers YES MT5, Match-Trader (migrating) NO NO
Crypto Fund Trader YES MT5, Crypto Fund Trader (CFT) Platform, Match-Trader YES (excluding MT5) YES (excluding MT5)
Audacity Capital YES MT4 and MT5 NO YES
Blue Guardian YES MT4 and MT5, DXtrade (migrating), Match-Trader (migrating) NO YES
AquaFunded YES MT4 and MT5, DXtrade (migrating) NO YES
Funding Traders YES MT4 and MT5 YES YES
Maven YES MT4 and MT5, Match-Trader (migrating) YES YES
Swift Funding YES MT4 YES YES
Bespoke YES MT4 and MT5 YES YES
Funded Next YES MT4 and MT5 YES YES
Funded Trading Plus (FT+) YES MT4 and MT5 YES YES
FTMO YES MT4, MT5, DXtrade (migrating) NO NO
Alpha Capital Group YES MT5 NO NO
MyFundedFX YES MT4, MT5, DXtrade (migrating) YES (excluding MT4/5) YES (excluding MT4/5)
The Funded Trader YES MT4, MT5, DXtrade, cTrader YES (excluding MT4/5) YES (excluding MT4/5)
City Traders Imperium YES MT5 YES YES
E8 Markets YES MT4, MT5, cTrader, DXtrade, Match-Trader YES YES
Earn2Trade YES NinjaTrader, Finamark, R | Trader & R | Trader Pro, Overcharts YES YES
EliteTrader Funding YES NinjaTrader, TradingView YES YES
FXIFY YES MT4, MT5 NO NO
For Traders YES MT4, MT5, DXTrade (migrating) NO NO
Glow Node YES MT4, MT5, Match-Trader YES YES
Goat Funded Trader YES MT4, MT5, cTrader, DxTrade YES YES
Instant Funding YES MT4, MT5, DXtrade (migrating) NO NO
Lark Funding YES MT4, MT5, DXtrade, cTrader YES YES
Ment Funding YES MT4, MT5 YES YES
My Flash Funding YES MT4, MT5 YES YES
Apex Trader Funding YES NinjaTrader YES YES
UWM YES MT4, MT5, DXtrade (migrating) YES YES
True Forex Funds YES cTrader NO NO
Traders Launch YES Proprietary Web Platform, Interactive Brokers IBKR Pro, Sterling Trader Pro YES YES
TradeDay YES Tradovate, NinjaTrader, TradingView, Jigsaw YES YES
The Trading Pit YES MT4, MT5, StereoTrader YES (futures challenges) YES (futures challenges)
Traddoo YES MT5, TradeLocker (migrating) NO NO
Topstep YES NinjaTrader, Quantower YES YES
Trade The Pool YES Trader Evolution YES YES
BuoyTrade YES MT4 YES YES
Surge Trader YES MT4, MT5, TradingView YES YES
Skilled Funded Traders YES MT4, MT5, cTrader, DXTrade YES YES
TradersEdgeFX YES MT4, MT5 YES YES
Dei Funded YES MT4, MT5 YES YES
Fidelcrest YES MT4, MT5 YES YES
OneUp Trader YES R | Trader, Jigsaw YES YES
LuxTradingFirm YES MT5 YES YES
T4TCapital YES MT4 YES YES
SabioTrade YES Quadcode YES YES
Fintokei YES MT4, MT5 NO NO

Have you learned about a prop firm that suspended operations or stopped accepting US-based clients? Feel free to let us know in the comments section below!

What Happened? Prop Turmoil, Explained

It all started on February 14th when one of the popular trader funding firms (TFFs), Funding Pips, abruptly closed trading and stopped services for all traders.

As it turned out, MetaQuotes suddenly started cracking down on prop trading companies that relied heavily on the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5 ) platforms. The CEO of Funding Pips, Khaled Ayesh, issued the following statement:

As Finance Magnates discovered, it's about licensing issues. TFFs offer their services to US-based clients, which requires additional authorization. As you might guess, they usually don't have them.

Some firms circumvented this through an intelligent approach by using other entities' licenses. An example is Blackbull, which grey-labeled its own MetaTrader license to prop trading companies like Funding Pips. Meanwhile FTMO, the "grandpa of prop trading" on Twitter, gained attention, but MetaQuotes eventually finally decided to curb this process.

The whole case is thoroughly explained in the video below by Boris Schlossberg, the Managing Director at BK Asset Management. As he explains, MetaQuotes is not doing this in bad faith but simply looking after its interests.

"They don't want to be in the prop space" because it carries the risk of violating the strict US regulations that the company wants to a void. Especially, after its mobile app was thrown out of the American Apple's App Store over a year ago.

What was the effect? Mayhem. Within just one week, prop firms' US-based clients (and sometimes other jurisdictions too) lost access to their accounts, and the industry began a panic attempt to migrate to alternative solutions offered by the likes of Match-Trade Technologies (Match-Trader) and Spotware Systems (cTrader).

DXtrade's Evgeny Sorokin has penned a thoughtful piece about the reasons other technology providers are after the funded trader business that MetaQuotes has abandoned. Some companies, on the flip side, have predicted that this is the end of the current prop trading model that worked for years.

prop-2

Prop Firms FAQ

What Happened with MetaQuotes and Prop Firms?

MetaQuotes, the company behind the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, abruptly started cracking down on prop trading companies that were using their platforms without proper licensing. Many of these prop firms were servicing US-based clients without authorization from US regulators. MetaQuotes decided to halt services to these companies to avoid potential legal issues.

What Does MetaQuotes’ Decision Mean for Prop Traders Using MT4/MT5?

MetaQuotes' recent policy changes mean that prop trading firms using MetaTrader 4 and MetaTrader 5 platforms may have to halt operations or migrate to alternative trading platforms if they service US clients.

Can US-Based Clients Still Participate in Prop Trading?

US-based clients face restrictions from many prop trading firms due to regulatory concerns and MetaQuotes' crackdown, though some firms are finding alternative platforms to continue servicing US clients.

prop-3

What Alternative Platforms Are Prop Firms Moving To?

With MetaQuotes pulling support, prop firms are migrating to alternative platforms like cTrader from Spotware and Match-Trader from Match-Trade Technologies. Some firms like Crypto Fund Trader have their own proprietary platforms as well.

How Can Traders Stay Updated on Which Prop Firms Are Still Operating?

Finance Magnates continuously updates a live table of prop firms, showing which ones are still in business and their current platform availability. Checking with individual prop firm websites is also recommended.

What Should I Do If My Prop Firm Account Was Suspended?

Check with your prop firm directly for guidance. Many are working as quickly as possible to migrate accounts to new platforms. You may need to complete new account opening formalities. Ensure you withdraw any available account balance if possible while waiting.

What Are the Implications for Non-US Traders?

Non-US traders may see minimal immediate impact, though the platform changes and the overall industry shift could influence the availability and terms of prop trading opportunities worldwide.

About the Author: Damian Chmiel
Damian Chmiel
  • 1369 Articles
  • 28 Followers
About the Author: Damian Chmiel
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
  • 1369 Articles
  • 28 Followers

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