The unnamed “ASIC-regulated broker” MyFlashFunding partnered with is FinesseFX, Finance Magnates has learned. Traders active on the prop trading firm's Discord server have confirmed that it is now offering them the option them to migrate to its MetaTrader 5 trading platform.

An ASIC-Regulated Broker

FinesseFX is headquartered in Melbourne and is regulated by the Australian Securities and Exchange Commission (ASIC). However, it is a lesser-known broker when it comes to the other names offering services to prop trading firms. It is unclear if FinesseFX holds any additional offshore licenses.

The FinesseFX website stated: “It is authorized to perform financial services to wholesale clients only.” It further highlighted that it is “not directed at and do not intend to elicit citizens and/or residents of the USA.”

Earlier, MyFlashFunding offered MetaTrader under ThinkMarkets, another Australia-regulated broker ending contracts with prop trading firms. However, now, many traders on MyFlashFunding are pointing out that the spreads offered by FinesseFX are too wide compared to the previous offering of ThinkMarkets.

Did the Prop Firm Move Its Base?

MyFlashFunding is now showing on its website that it is registered in Dubai. Only a couple of days earlier, the prop firm was showing to be registered in Missouri, the United States. The prop firm did not notify anything publicly about its change of business registration. The platform was founded by Blake Carter and is run by him as the Chief Executive Officer.

The MyFlashFunding website shows it offers up to $200,000 in funded trading accounts. However, it highlights that the trading is done in simulated environments. It claims to have more than 10,000 active traders. On its official Discord server, it has over 28,400 members, with over 32,500 followers on X (formerly Twitter).

The prop trading firm announced its new brokerage partnership earlier this week. However, it did not reveal the name of its brokerage partner then. Furthermore, it confirmed that the MT5 offerings under the new broker will be only for non-US clients while offering services to its US customers, it is in the process of integrating the Match-Trade trading platform.

IMPORTANT ANNOUNCEMENT ⚡️

MyFlashFunding has secured a ASIC regulated broker exclusively for MyFlashFunding and associated parties.

This sets us apart by offering a unique advantage—shielding us from the risks that other brokers in the proprietary trading space may face.…

— MyFlashFunding (@myflashfunding) February 25, 2024

“To our MyFlashFunding clients in the US, rest assured, we have plans tailored just for you. We're in the final stages of integrating Match-Trade!" the CEO of the prop trading platform wrote in an earlier notice.