Tag: Prop trading

MyFundedFX Partners with Purple Trading to Launch cTrader Platform

Posted on by Adam Smith
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.

Hantec Group Expands its Reach with the Launch of Hantec Trader, an Offshore Prop Trading Unit

Posted on by Adam Smith
Hantec Group

Hantec Group, a London and Hong Kong-based financial services provider, has entered the thriving world of proprietary trading with the introduction of Hantec Trader, a proprietary trading firm. Read our article about Prop Trading Firms

Hantec Trader, operating through Hantec Markets, a Mauritius-based brokerage firm, offers traders a unique opportunity. It provides proprietary trading accounts with initial capital, allowing traders to explore various asset classes without risking their funds.

The company is set to offer two certification courses: the "Enhanced Challenge" and the "Express Challenge." Successful completion of either challenge grants traders access to a live trading account with up to $200,000 in balance.

Once certified, traders can enjoy trading with ultra-low commissions and spreads using MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, retaining up to 90% of their profits. They will also access a comprehensive dashboard for data and actionable insights to enhance their trading strategies.

Andrew Speakman, Sales Director at Hantec Trader, expressed the company's goal of offering financial freedom: "Our launch of Hantec Trader aims to provide a low-risk, low-cost way for individuals to participate in global financial markets."

Hantec Markets, the parent company, is led by Bashir Nurmohamed, an industry veteran with a track record at ODL Securities and Rosenthal Collins. Founded in 2010 with backing from Hantec Group founder Tang Yu Lap in Hong Kong, this partnership has allowed Hantec Group to expand into proprietary trading.

Hantec Trader's introduction marks a significant development in prop trading, offering traders a platform for skill development and profitable trading strategies. With its strong reputation and regulatory commitment, Hantec Group is poised for success in this dynamic sector.