Key Insights
- Blue Guardian acquiring Australia-licensed broker for direct client service amid prop trading shakeup
- Purchase to provide dedicated space with better trading conditions; plans to rebrand broker
- Firm shifting US clients to platform DXtrade by Friday; Match-Trader rollout in around 2 weeks
SYDNEY (MarketsXplora) – UK-based prop trading company Blue Guardian said it is in the process of buying an Australian regulated broker, enabling it to directly serve clients as sector disruption pushes firms to cut reliance on third parties.
Blue Guardian CEO Sean Bainton announced the deal in a post on social media platform X over the weekend, without naming the target Australian Securities and Investments Commission (ASIC) license holder.
The purchase comes as MetaQuotes, operator of the popular MetaTrader 4 and 5 platforms, moved to halt services to prop firms, prompting scrambles to shift U.S. traders and adopt alternative platforms.
Blue Guardian said it aims to complete the broker transaction and migrate non-U.S. customers by Wednesday, touting a dedicated space with improved trading conditions. The firm also plans to rebrand the broker to match its theme.
For American clients, Bainton said arrangements are being finalized to shift trading to platform DXtrade by Friday, requesting all traders close positions by Monday 5 pm EST to ensure a smooth transition.
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Additionally, multi-asset solution Match-Trader is slated for rollout in around two weeks, Blue Guardian revealed. The company joins other prop firms adding new platforms and seeking broker purchases to reduce reliance on third-parties amid sector turmoil.
Earlier, Blue Guardian and rivals were informed by brokers and platform providers they work with to stop servicing U.S. prop traders, sparking the ongoing upheaval.