Surprisingly, Eightcap, a famous provider of white-label MT license procurement services, has announced the termination of the sale of these services to proprietary trading firms as of February 29th. This capital decision will highlight how proprietary trading firms work with their technology partners in a new way.
This expected event on Thursday stands as a milestone in the prop trading arena. Lark Funding’s Matt L. qualified his statement about the need for the diversification of broker relationships despite the fact that ThinkMarkets has provided the firm with undoubted assistance in MetaQuotes operations.
Matt L. from Lark Funding mentioned on X
ThinkMarkets has reassured us several times over the last few weeks that operations on their end and their relationship with MetaQuotes are solid. But, of course, we’re not going to rely on just one broker. We’re already in discussions with other brokers to see who we can work with and provide additional options to traders.
The Finance Line team also reached out to EightCap, but they did not give us any foundational and clear statement regarding the same. On LinkedIn, they posted their official statement, clearing the rumors.
MetaQuotes Is Also In Action
MetaQuotes, who are responsible for operating MetaTrader 4 and 5 platforms, is toughening the regulation over the proprietary trading firms. Thus, these US clients are sent away from the system. The latest controversy is Funding Pips, which is tied to both the forex dealer Blackbull Markets and the brokerage forex house Purple Trading.
MetQuotes’ byzantine maneuvers elucidate the underlying obstacles put in place for those engaged in proprietary trading within the MetaTrader field constrained by US regulatory laws. Blackbull Markets and Purple Trading’s termination of services within the US by the MetaQuote is evidence of a tough application of prop trading firms in the United States.
The company’s intervention with prop trading companies, especially in America, is to reduce the amount of active accounts drastically. These trading entities, which function as agents outside a corporate structure, are now on the radar because of US rules allowing them to avoid regulations.
About Eightcap
Eightcap is a financial services firm that had its origins in 2009, and its head office is located in Melbourne, Australia. A company that was built from its onset to deliver high-end financial services to its clients is presently known for not only helping its clients trade smartly but also keeping the promise to offer them high-class services. It acts under the Eightcap Pty Ltd brand with approval from the Australian Securities and Investment Commission (AFSL 391441), providing transparency, trust, and reliability.