Crypto Fund Trader, a prop trading firm offering services with cryptocurrencies, has become the latest to confirm the cessation of its services on MetaTrader 5 for US-based clients. However, the accounts of its US clients would still be active, and they would be “able to purchase evaluations on [the] CFT Platform.”
“To protect our users and to anticipate possible circumstances due to the current news about prop firms and to keep our Full License of MetaQuotes, we will temporarily block purchases coming from the US on MetaTrader 5,” the company wrote in a notice published yesterday (Sunday).
📢Announcement
To protect our users and to anticipate possible circumstances due to the current news about propfirms and to keep our Full License of MetaQuotes, we will temporarily block purchases coming from the US on MetaTrader 5.
Current US users will have no problem with…
— Crypto Fund Trader (@CFTradercom) February 18, 2024
According to its website, Crypto Fund Trader is operated by RLCRATES, S.L., a company based in Spain. The platform differs from other prop trading platforms as it only offers trading with crypto-forex pairs. It also claims to provide funding up to $200,000.
In a consecutive tweet, Crypto Fund Trader wrote: “The industry is rapidly moving into a new era, and only those who are able to adapt to the changes will remain standing.”
“From the first day, we have adapted by focusing on the solidity and transparency of this project with only one objective, long-term sustainability.”
The industry is rapidly moving into a new era and only those who are able to adapt to the changes will remain standing.
From the first day we have adapted by focusing on the solidity and transparency of this project with only one objective, long-term sustainability.
We are…
— Crypto Fund Trader (@CFTradercom) February 18, 2024
US Clients Are Off Limits
Crypto Fund Trader has become one of many prop trading companies to restrict services to US clients. Over the weekend, The5ers, an established name in prop trading, “temporarily suspended the onboarding of new US traders.”
FTMO also followed suit to stop onboarding US clients, Finance Magnates reported. New traders attempting to register from a US IP address were unable to complete the registration form. However, existing accounts of US clients have not been closed or refunded. Interestingly, the support of FTMO is asking clients to move to the DXtrade trading platform, indicating the move is pushed by the alleged crackdown on MetaQuotes.
