The Funded Trader Embraces cTrader Platform Amidst Industry Shifts

The Funded Trader has recently announced a significant move towards the cTrader platform, as revealed on the social media platform X, previously known as Twitter. This announcement, circulated on Wednesday, delineated the migration process details affecting approximately 4,700 individuals.

Traders were provided with explicit instructions to close all ongoing trades by 4 PM EST to ensure a precise transfer of balances to the new cTrader accounts. Failure to comply with this directive would result in the automatic closure of active trades by the system.

Following the closure of all positions by 4 PM EST, each trader's cTrader account will mirror the account type and balance from their DXtrade accounts. Traders are advised to locate their cTrader usernames through the account overview page on their dashboard, with Spotware, the company behind cTrader, poised to furnish additional login details and instructions separately.

Furthermore, The Funded Trader offered assurances that the migration to cTrader would persist for those who have requested it, indicating an ongoing transition process. Traders are urged to remain vigilant and adhere to the provided guidelines to ensure a seamless transition to the new platform.

This initiative stemmed from MetaQuotes' recent implementation of stricter compliance measures, particularly concerning US regulations, which has prompted a series of challenges within the proprietary trading industry. Several firms have found themselves reevaluating their partnerships with MetaQuotes due to mounting concerns about serving US clients. This heightened scrutiny has prompted certain proprietary firms to temporarily suspend services and explore alternative platforms to maintain regulatory compliance and operational resilience.

Previously, The Funded Trader, alongside other proprietary trading firms, migrated to DXTrade, granting traders access to real-time insights. This transition mirrors a broader trend in the proprietary trading landscape. Led by CEO Angelo Ciaramello, The Funded Trader offers account sizes ranging from $5,000 to $400,000 with leverage options across various instruments. MyFundedFX is also in the process of migrating its clients' accounts to DXTrade, with trading activities temporarily suspended during the transition. Users are advised to close open transactions ahead of the migration to avoid system-initiated closures.