Funding Pips moves from MetaTrader to Match-Trader after MetaQuotes ends the partnership.
The CEO confirms migration with retained conditions and plans more platform additions.
After a
week of turmoil and loss of access to popular trading platforms provided by
MetaQuotes, the prop firm Funding Pips announced that it has successfully completed
the migration of user accounts and transaction history to a competing platform
offered by Match-Trade Technologies.
From MetaTrader to
Match-Trader: Funding Pips Completes Migration
Less than a
week after Funding Pips announced that MetaQuotes had terminated its
partnership with the prop trading firm due to serving clients from the USA without
necessary regulatory approvals, the company's CEO confirmed that they have
achieved a 100% migration from the existing servers and switched the service
provider to Match-Trade Technologies, the creator of the Match-Trader platform.
On the
official Discord channel, Khaled Ayesh, informed that "Match-Trader is
100% done, everything is migrated," and the platform is conducting
additional stress tests of trading conditions and connections with liquidity
providers.
Ayesh further assured that the commissions and spreads previously available through Meta
Trader 4 and 5 platforms have been retained within Match-Trader and other
trading conditions. Meanwhile, the Funding Pips technical team is working on
implementing additional alternative platforms, including Dxtrade and Ctrader,
with TradeLocker being the final goal.
"Whatever
is done will be released directly, then TradeLocker, while we wait on MetaQuotes
response whether we are getting our own License or not," added the CEO of
Funding Pips. He emphasized that the company is currently working on
obtaining cryptocurrency and futures licenses to avoid future service provision
issues to clients from the USA.
The Onset of Funding Pips'
Troubles
Funding
Pips abruptly halted trading and stopped services for all traders on February
14th. As exclusively reported by Finance Magnates, Funding Pips sent
notices to clients citing "unexpected urgent maintenance" as the
reason for the shutdown.
The
disruption of services occurred after Funding Pips' only brokerage partner,
Blackbull Markets, terminated its partnership. A Blackbull representative
confirmed that MetaQuotes, forced the broker to stop providing services to
Funding Pips.
"We we’re unfortunately in breach of our grey label licence ability to offer this for prop firms so we’re forced to immediately shut down Funding Pips as a client and their server on our Demo environment. Note, they only ever operated on our Demo server via MT5," a Blackbull Markets representative told Finance Magnates.
While the
MetaTrader platforms are widely used for leveraged forex and CFDs trading,
MetaQuotes' licensing policies have been opaque and restrictive. However,
grey-labeling of licenses enables brokers to offer MT4 and MT5 to companies
that MetaQuotes itself would have rejected.
US
regulators heavily control leveraged trading services for retail investors,
even banning CFDs. However, prop trading firms operate outside regulatory
oversight.
After a
week of turmoil and loss of access to popular trading platforms provided by
MetaQuotes, the prop firm Funding Pips announced that it has successfully completed
the migration of user accounts and transaction history to a competing platform
offered by Match-Trade Technologies.
From MetaTrader to
Match-Trader: Funding Pips Completes Migration
Less than a
week after Funding Pips announced that MetaQuotes had terminated its
partnership with the prop trading firm due to serving clients from the USA without
necessary regulatory approvals, the company's CEO confirmed that they have
achieved a 100% migration from the existing servers and switched the service
provider to Match-Trade Technologies, the creator of the Match-Trader platform.
On the
official Discord channel, Khaled Ayesh, informed that "Match-Trader is
100% done, everything is migrated," and the platform is conducting
additional stress tests of trading conditions and connections with liquidity
providers.
Ayesh further assured that the commissions and spreads previously available through Meta
Trader 4 and 5 platforms have been retained within Match-Trader and other
trading conditions. Meanwhile, the Funding Pips technical team is working on
implementing additional alternative platforms, including Dxtrade and Ctrader,
with TradeLocker being the final goal.
"Whatever
is done will be released directly, then TradeLocker, while we wait on MetaQuotes
response whether we are getting our own License or not," added the CEO of
Funding Pips. He emphasized that the company is currently working on
obtaining cryptocurrency and futures licenses to avoid future service provision
issues to clients from the USA.
The Onset of Funding Pips'
Troubles
Funding
Pips abruptly halted trading and stopped services for all traders on February
14th. As exclusively reported by Finance Magnates, Funding Pips sent
notices to clients citing "unexpected urgent maintenance" as the
reason for the shutdown.
The
disruption of services occurred after Funding Pips' only brokerage partner,
Blackbull Markets, terminated its partnership. A Blackbull representative
confirmed that MetaQuotes, forced the broker to stop providing services to
Funding Pips.
"We we’re unfortunately in breach of our grey label licence ability to offer this for prop firms so we’re forced to immediately shut down Funding Pips as a client and their server on our Demo environment. Note, they only ever operated on our Demo server via MT5," a Blackbull Markets representative told Finance Magnates.
While the
MetaTrader platforms are widely used for leveraged forex and CFDs trading,
MetaQuotes' licensing policies have been opaque and restrictive. However,
grey-labeling of licenses enables brokers to offer MT4 and MT5 to companies
that MetaQuotes itself would have rejected.
US
regulators heavily control leveraged trading services for retail investors,
even banning CFDs. However, prop trading firms operate outside regulatory
oversight.
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.
Marex Reports Strong Full Year and Quarterly Results: Revenue Jumps 75%
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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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.
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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 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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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 Africa’s 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.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s 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 🔗 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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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
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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
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#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