FNG Exclusive… FNG has learned that Netherlands based retail prop trading firm Funds for Traders (at website fundsfortraders.com) is shutting down.
The company’s website is now showing a message (see full text below) stating that the company’s executing broker, Eightcap, has informed Funds for Traders that Eightcap will no longer be supporting the MT4 and MT5 trading platforms for prop trading. Funds for Traders explained that this means that the company can no longer offer these platforms to its users. With the MetaTrader based platforms being a cornerstone of its services, Funds for Traders said that they now cannot continue to operate effectively.
Apparently, MT4 and MT5 developer MetaQuotes has been putting more pressure on brokers which license its platforms (such as Eightcap) to ensure that they are used only as allowed by regulators. Their main concern seems to be keeping US based traders…
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