Key Insights
- FTMO has stopped accepting new US clients, blocking registrations from US IP addresses, while existing US accounts remain active but must migrate to DXtrade platform
- The change affects both US nationals and US residents using MetaTrader 4/5, with traders instructed to close positions before the platform switch
CZECH (MarketsXplora) In a move tied to the ongoing MetaQuotes crackdown on proprietary trading firms, FTMO has stopped accepting new clients from the United States, MarketsXplora has learned. New traders attempting to register on the FTMO platform using a US IP address are now unable to complete the registration process. However, the proprietary trading firm has clarified that the accounts of existing US-based clients will not be closed or refunded at this time.
FTMO’s shift comes as the company transitions its operations to the DXtrade platform, a development communicated by its support team. An email sent to clients revealed an imminent change affecting the availability of the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms for US clients. This change is set to take effect starting Monday, according to the correspondence, which was also shared on X (formerly Twitter).
FTMO is No Longer Available In the USA
The update impacts both US nationals and non-US nationals residing in the country. FTMO’s email urged clients to close all open positions by Friday’s market closure, warning that any remaining positions would be automatically closed afterward.
Following this, affected accounts will be migrated to the DXtrade platform. The firm has provided resources and links to help clients familiarize themselves with the new trading environment.
Over the weekend, industry insiders and trading-focused social media accounts noted that FTMO’s servers were no longer accessible on the MT4 and MT5 platforms. Speculation suggests this development could be tied to the migration of US traders to DXtrade, reflecting broader upheaval in the proprietary trading sector following MetaQuotes’ actions.
MetaQuotes’ Regulatory Concerns
MetaQuotes, the Cyprus-based technology company behind MT4 and MT5, has reportedly targeted firms offering funded trading accounts to US clients. While the company has not officially confirmed its actions, several proprietary trading firms have experienced disruptions linked to MetaQuotes’ decisions. Regulatory concerns appear to be driving the crackdown.
One high-profile example involves Blackbull Markets, which had been grey-labeling its MT5 license to prop trading firms. Blackbull Markets was forced to terminate services for Funding Pips, another proprietary trading firm, to comply with MetaQuotes’ demands. Anish Lal, Blackbull’s Chief Business Development Officer, confirmed the termination was compelled by MetaQuotes’ push, emphasizing the risks to their license if they failed to comply.
The CEO of Funding Pips, known as “Khaled” on X, corroborated this account, stating that MetaQuotes abruptly halted services due to active US accounts. “Blackbull Markets didn’t terminate our partnership, but they were forced to let us go,” Khaled said, adding that the disruption left the firm delisted from the MT5 app.
Related: Top 5 FTMO Alternatives for US Traders After Recent Ban
Industry Experts Weigh In
The move to DXtrade reflects a significant adjustment for FTMO and the broader proprietary trading community. According to Anya Aratovskaya, an industry expert, only three out of 122 trader-funded firms she reviewed last week had adopted platforms like cTrader or DXtrade. “Many [firms] are not ready to say goodbye to MT4/MT5,” Aratovskaya noted in a LinkedIn post.
FTMO’s decision to stop accepting US clients marks another milestone in the evolving regulatory landscape for proprietary trading. With MetaQuotes tightening restrictions on firms serving US-based traders, companies are exploring alternative platforms to ensure compliance while continuing to serve their clients.
MarketsXplora has reached out to FTMO for further comment and will provide updates as they become available.