Anybody lose access to their prop firm account?

[Paul_J7]

Probably no (

[samewise]

Since some have closed up shop, it makes sense that prices will start to go with those that are still running. Hopefully not too much!

[Paul_J7]

We will see

[samewise]

SurgeTrader in the US having issues. Not a good sign.

Exclusive: Match-Trader Terminates Prop Firm SurgeTrader’s License

[Paul_J7]

The US market is probably a bit turbulent right now, but I’m confident that they will find solution

[samewise]

And now Surgetrader is completely done.

https://surgetrader.com/

“It is with deep regret that we announce that as of today, Friday, May 24, 2024, SurgeTrader has closed and ceased all operations. Despite all of our efforts this week to get Match Trade Technologies to further communicate in an effort to resolve our trading platform termination, we have been unsuccessful.”

[Paul_J7]

Maybe this isn’t bad after all

[S_Jane_M]

@Paul_J7

Maybe this isn’t bad

It isn’t: it’s good.

It all gradually moves people away from CFDs and unregulated scammers toward futures.

Large sections of the industry hate all these developments, of course, but for retail customers it’s all very beneficial.

[Paul_J7]

@S_Jane_M

It isn’t: it’s good.

It all gradually moves people away from CFDs and unregulated scammers toward futures.

Large sections of the industry hate all these developments, of course, but for retail customers it’s all very beneficial.

As I understand, in the USA, many people have switched to trading futures?

[S_Jane_M]

@Paul_J7

I understand, in the USA, many people have switched to trading futures?

So I understand, yes.

[samewise]

@S_Jane_M

It all gradually moves people away from CFDs and unregulated scammers toward futures.

I don’t think you’re in the US but do you know any trustworthy futures brokers here?

[S_Jane_M]

@samewise

do you know any trustworthy futures brokers here?

I’m in the UK.

All US futures brokers are properly regulated, and safe. They have to be, by law.

Personally, I like AMP (they’re both here and over there) and for people who like MT5, they have it available.

[samewise]

@S_Jane_M

All US futures brokers are properly regulated, and safe. They have to be, by law.

Great!

@S_Jane_M

Personally, I like AMP

Never heard of that broker. I’ll check them out. TY!

[S_Jane_M]

I didn’t mean to suggest that they only have MT5, by the way: they have a whole range.

NinjaTrader brokerage are also fine, and Tradovate has a very nice trading platform and is a perfectly decent broker with slightly-second-best (not horrible!) customer support. (Tradovate is actually owned by Ninja).

[samewise]

Yea looks like they support a bunch of platforms. I use TV which they have. Lots of free stuff too that comes with a account.

I’ve heard of Ninjatrader. Thanks for the reminder.

[Paul_J7]

Prop Firm UWM Also Relaunches MetaTrader, Signaling Possible Industry Shift

[Paul_J7]

Union Wealth Management (UWM) has brought back MetaTrader 4 and 5 to their platform offerings. This move comes a few months after MetaQuotes, the developer, suspended licenses, shaking up the prop trading industry significantly, especially affecting U.S. users. Now, UWM and other firms are adapting to new regulations and forming partnerships to reintroduce these popular trading platforms. It seems like we’re seeing a trend where prop firms are gradually regaining access to MetaTrader, adapting to the evolving regulatory landscape.

[Heteroskedasticity]

@Paul_J7

It seems like we’re seeing a trend where prop firms are gradually regaining access to MetaTrader, adapting to the evolving regulatory landscape.

How is the regulatory landscape evolving?

[Paul_J7]

@Heteroskedasticity

How is the regulatory landscape evolving?

Need to check

[Heteroskedasticity]

Thanks. I’m asking because it seems to so many of us that the cause of the undeniable big problems is the fact that the regulatory landscape HASN’T yet changed at all? (It would be great if it does, though?)