Key Insights
- Stocknet Institute, a UK-based prop trading firm, announces permanent closure due to a strategic pivot, joining recent industry shutdowns.
- The company has disabled new plan purchases and outlined separate processes for closing accounts of clients in ‘surplus’ and ‘deficit’ positions.
- Stocknet Institute is offering its in-house prop trading technology IP for sale.
LONDON (MarketsXplora) – Stocknet Institute, a UK-based proprietary trading firm also known as SI World, has announced it will wind down operations and permanently close, marking the latest casualty in the increasingly competitive prop trading industry.
In an email to clients on Thursday, the company, which operates websites stocknetinstitute.com and siworld.io, cited a “strategic pivot” and a move away from the prop trading industry as reasons for the closure. The firm emphasized that it is in a “healthy position” and the decision reflects a commitment to pursuing new opportunities.
Effective immediately, Stocknet Institute has disabled plan purchasing and will no longer accept new clients. The company has outlined a clear process for existing clients:
- Clients in ‘surplus’, who have received more in payouts than they have paid, will be contacted regarding account closure.
- Clients in ‘deficit’, who have not received payouts exceeding their payments, will receive detailed instructions on account closure procedures.
This development follows a string of recent closures or service suspensions in the prop trading sector, including SurgeTrader, True Forex Funds, Skilled Funded Traders, and The Funded Trader, highlighting the challenges faced by firms in this growing but competitive market.
In an unexpected move, Stocknet Institute also announced that its in-house prop trading technology IP is available for sale, inviting interested parties to contact them at partners@siworld.io.
The company expressed gratitude to its clients and stakeholders for their support over its three-year operation, stating,
“We wish you all the best in your future endeavours and look forward to watching this industry grow from afar, to the benefit of millions of aspiring traders worldwide.”
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