Key Insights
- Popular prop trading firm Funding Pips resume operations after adding Match-Trader platform
- Relaunch follows disruption from MetaQuotes and brokers halting services for meta-trader based prop companies
- Match-Trader chosen for ability to migrate account histories; cTrader and TradeLocker to be added
LONDON (MarketsXplora) – Popular prop trading firm Funding Pips said it has relaunched operations after integrating the Match-Trader platform, following recent upheaval in the retail trading sector that disrupted business for meta-trader-based companies.
In a message to clients, Funding Pips CEO Khaled Ayesh said the company is fully operational again and will be adding cTrader and TradeLocker platforms next week.
Match-Trader was chosen as the initial platform because it can migrate full trading account histories from MT5 accounts, Ayesh said. By next week, the platform will also have features for modifying stop-loss and take-profit orders visually on charts.
Funding Pips had halted operations amid turmoil as platform providers like MetaQuotes and some brokers moved to stop working with numerous prop firms using MT4 and MT5.
Ayesh apologized for the blackout period but said nothing can hamper Funding Pips again thanks to its updated tech infrastructure. However, the disruption has delayed some operations.
Account upgrades, reviews and onboarding should be completed in a day or two, Ayesh noted. Other issues like balance-based drawdowns, copy trading between Funding Pips accounts, and rollout of 200k accounts, will be resolved once all platforms are live.
Payout eligibility and requests have also been pushed back by Funding Pips’ downtime. The company said floating losses and profits during the shutdown cannot be traced, which is good news for traders with open losing positions but not for those in profit.
Prop trading firms provide capital, infrastructure and training to retail traders, in exchange for a share of profits. Many were left scrambling after MetaQuotes and brokers like IC Markets halted services.
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