Compliance concerns prompted The5ers to temporarily halt onboarding traders in the US.
The5ers has assured its clients that efforts are underway to update its guidelines.
The5ers, a proprietary
trading firm, has temporarily ceased onboarding new traders in the US amid regulatory pressure. The company's action is in response to the evolving regulatory
concern surrounding the participation of US traders in the proprietary
trading space.
Citing the need for clarity on the legal
implications concerning proprietary trading in the US, the firm
emphasized ensuring compliance with regulatory requirements. Besides that, The5ers reassured its clients in the US that
efforts are underway to update guidelines to meet the needs of traders in the region.
Navigating Regulatory Uncertainty
In a post on X, the company mentioned: "Due to
recent events, we have made the difficult decision to suspend onboarding new US
traders. This measure will remain in effect until we have a clearer
understanding of the legal implications surrounding US individuals trading for
prop funds."
The5ers has urged patience as it works to adapt to
regulatory changes and provide clarity for its users in the region. The firm's decision
reflects the ongoing efforts by proprietary firms to address the regulatory
uncertainties in the sector.
Addressing possible misunderstandings among its
users, The5ers clarified a concern by one of its clients about a communication
shared earlier. It acknowledged the challenges in its decision due to the
turbulent times in the proprietary trading sector.
US Regulatory Scrutiny Impacts MetaTrader Licensees
The regulatory scrutiny against leveraged trading
services and CFDs has intensified in the US. A recent decision by MetaQuotes to enforce restrictions on proprietary trading firms using MetaTrader
licenses has sent shockwaves through the industry.
Blackbull Markets, a brokerage offering grey-labeled
MetaTrader services, was compelled to cut ties with Funding Pips due to its active accounts from the US. While not publicly acknowledged by MetaQuotes, this move reflected the company's stance on compliance with US regulations.
The termination of services to Funding Pips
underscores the challenges faced by brokers operating in the grey label space.
While Blackbull Markets facilitated simulated trading for Funding Pips via MT5
demo servers, the presence of clients from the US triggered the abrupt end of their
partnership.
Similarly, Smart Prop Trader recently announced its plans to migrate to multiple new brokers and integrate the cTrader trading
platform. This step happened amidst regulatory scrutiny
targeting prop trading firms.
Proprietary trading, which allows traders to leverage company funds in live markets, has traditionally
operated outside the scope of stringent financial regulations. However, recent
developments, including the lawsuit against My Forex Funds by the US commodities
regulator, have thrust proprietary trading into the regulatory spotlight.
The5ers, a proprietary
trading firm, has temporarily ceased onboarding new traders in the US amid regulatory pressure. The company's action is in response to the evolving regulatory
concern surrounding the participation of US traders in the proprietary
trading space.
Citing the need for clarity on the legal
implications concerning proprietary trading in the US, the firm
emphasized ensuring compliance with regulatory requirements. Besides that, The5ers reassured its clients in the US that
efforts are underway to update guidelines to meet the needs of traders in the region.
Navigating Regulatory Uncertainty
In a post on X, the company mentioned: "Due to
recent events, we have made the difficult decision to suspend onboarding new US
traders. This measure will remain in effect until we have a clearer
understanding of the legal implications surrounding US individuals trading for
prop funds."
The5ers has urged patience as it works to adapt to
regulatory changes and provide clarity for its users in the region. The firm's decision
reflects the ongoing efforts by proprietary firms to address the regulatory
uncertainties in the sector.
Addressing possible misunderstandings among its
users, The5ers clarified a concern by one of its clients about a communication
shared earlier. It acknowledged the challenges in its decision due to the
turbulent times in the proprietary trading sector.
US Regulatory Scrutiny Impacts MetaTrader Licensees
The regulatory scrutiny against leveraged trading
services and CFDs has intensified in the US. A recent decision by MetaQuotes to enforce restrictions on proprietary trading firms using MetaTrader
licenses has sent shockwaves through the industry.
Blackbull Markets, a brokerage offering grey-labeled
MetaTrader services, was compelled to cut ties with Funding Pips due to its active accounts from the US. While not publicly acknowledged by MetaQuotes, this move reflected the company's stance on compliance with US regulations.
The termination of services to Funding Pips
underscores the challenges faced by brokers operating in the grey label space.
While Blackbull Markets facilitated simulated trading for Funding Pips via MT5
demo servers, the presence of clients from the US triggered the abrupt end of their
partnership.
Similarly, Smart Prop Trader recently announced its plans to migrate to multiple new brokers and integrate the cTrader trading
platform. This step happened amidst regulatory scrutiny
targeting prop trading firms.
Proprietary trading, which allows traders to leverage company funds in live markets, has traditionally
operated outside the scope of stringent financial regulations. However, recent
developments, including the lawsuit against My Forex Funds by the US commodities
regulator, have thrust proprietary trading into the regulatory spotlight.
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
π£ Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
π£ Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa