Anybody lose access to their prop firm account?

Just as I was getting ready to jump in, the last 2 weeks has really turned prop firms on their heads. It looks like all the top prop firms are dropping like flies or at least blocking US traders.

Are there any legit firms left still open to US traders?

the5%ers, FTMO, Lux I think all stopped supporting US traders.

Any US traders still able to trade?

Dang. Why are they blocking US traders?

I think Metaquotes, the company that makes MT4/MT5, found some of their customers trading CFDs which isn’t allowed in the US.

Or more specifically, company A has a license with Metaquotes. Company A has it’s own customer, PropFirm 1, which piggy hacks on Company A’s MT4 license, and then PropFirm 1 allows its customers to trade CFDs. Even doing this on a demo MT 4/5 server is a nono in the US.

I think that’s the main issue. Could also be just a licensing issue, and Metaquotes doesn’t get paid when somebody uses a demo license, which I think a lot of prop firms use since they offer virtual accounts to their customers.

I think that’s how it works.

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Personally not being from USA, I don’t know if this firm is a possibility or not.

Traders4Traders.

All the best with your search.

Read a lot of news about this problem. But as I understand for now it’s only for the US market. I think over time this could affect everyone with demo licenses, and that’s almost all prop firms

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Good video about Metaquote’s role. This is Boris Schlossberg, trading buddy of Kathy Lien.

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Big correction (if I may?) - it’s almost all the CFD prop-firms. The futures prop-firms are safe, as ever. :wink:

And it looks like some firms with US clients are letting them trading again.

Interesting how?

Yes, I saw this video, it’s a good one

yes, think so

What’s the status with prop firms. Anybody keeping up?

Interesting too.
The last thing I read was this:

The forex ones are closing down left, right and centre.

The futures ones are expanding and multiplying.

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Oh, good share.

Good for Axi, I guess. Do they take US traders?

I’m seeing more of this. Maybe I asked you this already, but what futures are you trading and where? Like CME I think is one I heard about.

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There are some non-CME futures (somewhere?! somehow?!) but as far as I know at least 99% of references to “futures” - unless specified otherwise - mean CME futures.

I trade Pound, Euro, Yen futures, sometimes even S&P, not oil or gold.

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Okay learned something new today! Thanks!

Wow cool.

The CME group now owns almost all its former competitors worth talking about. To all intents and purposes that (including its various subdivisions) is the only one you need to know anything about, @samewise .

Okay cool. Looks like they have demo accounts too.