Four months after chaos erupted in the retail proprietary trading industry due to MetaQuotes' license suspensions, prop firms are gradually reintroducing the popular MetaTrader platforms to their offerings. Union Wealth Management (UWM) is the latest to join this trend, relaunching trading on the platform most favored by retail traders.

Prop Firm UWM Reintroduces MetaTrader Platforms

UWM announced on social media on Monday that MetaTrader 4 and 5 are once again available in their lineup, along with new trading challenges. However, migration from other platforms supported by UWM is impossible, as a different broker now handles MetaTrader operations.

MetaTrader is now out! 🙌https://t.co/Sycn9nmEaG pic.twitter.com/eirdtcRoFV

— UWMTrading.com (@UWMTrading) June 24, 2024

UWM was among many prop firms that lost access to MetaTrader in February. The reason was straightforward: MetaQuotes began tightening its grip on proprietary trading firms, leading to banning users from the United States.

Many brokers who previously offered access to prop trading firms terminated all agreements, fearing additional regulatory consequences - regardless of whether the firm served US clients or not. As a result, prop firms lost access to MetaQuotes platforms. However, some are now regaining it through new partnerships.

As Finance Magnates reported over the weekend, Goat Funded Trader (GFT) also successfully reintroduced MetaTrader to its clients, reportedly through implementing "in-house tech." It's hard to say whether this marks an industry shift and a widespread return of MT to the offerings of prop trading firms, but a new trend is certainly emerging.

A New-Old Agreement with Eightcap?

Information obtained by Finance Magnates suggests that UWM may have been able to offer MetaTrader 4 and 5 to its clients again thanks to "a new deal based on the updated agreement" with Eightcap.

Interestingly, Eightcap was allegedly one of the brokers at the center of the prop trading industry's problems in February. Many firms reported at the time that the company was terminating its services, forcing them to seek new partners or migrate to other platforms.

At first glance, it appears that UWM is only a "referrer" to Eightcap under the new agreement, with the broker responsible for administering prop trading challenges offered on the platform and all deposits and payouts.

"Trading platform access for Challengers is facilitated by Eightcap Global," reads one of the banners promoting the return to MetaTrader.

Finance Magnates will update this article when more detailed information becomes available about how UWM regained access to MetaTrader.