MyFundedFX Partners with Purple Trading to Launch cTrader Platform

March 7, 2024 at 12:34 AM
MyFundedFX

In a significant move within the proprietary trading sector, Dallas-based MyFundedFX has officially launched its services on the cTrader trading platform, in partnership with Purple Trading Seychelles. This strategic pivot comes in response to the firm's recent termination by its former broker, Blueberry Markets, and marks a new chapter for the retail prop trading firm with the Cyprus-based broker Purple Trading’s offshore division.

The shift to cTrader, facilitated by CFDs broker Purple Trading Seychelles, emerges amidst a broader industry trend where prop trading firms are actively seeking alternatives to MetaQuotes' MT4 and MT5 platforms. These platforms have been the cornerstone of retail trading activity for numerous firms, including Blueberry Markets. However, MetaQuotes has pressured brokers to discontinue their prop trading services on these platforms, threatening the withdrawal of MT4/MT5 licenses.

MyFundedFX's transition to cTrader is part of a larger movement among prop firms to adapt to these market changes. Competing platforms like Devexperts’ DXtrade and Match-Trade Technologies’ Match-Trader have also been considered by firms seeking new trading solutions. The firm also announced that all accounts previously under Blueberry Markets would be migrated to a new platform by Friday, March 8, away from the traditional MT4 and MT5 systems. MyFundedFX has indicated Match-Trader as the default migration platform, praising its performance in tests and its user-friendly interface, while also offering traders the option to switch to DXtrade or cTrader.

Established in June 2022 and led by CEO Matthew Leech, MyFundedFX stands out in the prop trading industry not only for its quick adaptation to regulatory and market shifts but also for its broad vision. Leech, who also helms MyFundedFutures and co-owns Swift Funding, has been proactive in ensuring that the firm remains at the forefront of trading technology and brokerage partnerships.

This move signals a significant realignment within the retail and proprietary trading spaces, as firms navigate the challenges and opportunities presented by regulatory pressures and platform limitations. MyFundedFX's adoption of cTrader with Purple Trading Seychelles highlights the firm's commitment to providing its traders with robust, versatile trading platforms that cater to their evolving needs in a dynamic market environment.

Leave a Reply

Your email address will not be published. Required fields are marked *