London-based Audacity Capital turns into the newest prop buying and selling agency to “briefly” droop its new onboarding of consumers based mostly in the USA. The choice got here when a number of prop buying and selling companies had been restricted from providing their providers to US prospects as a result of alleged strain from MetaQuotes, the corporate behind the MetaTrader buying and selling platforms.
Nonetheless, the service restriction is not going to affect the present prospects of the prop buying and selling platform, which claims to have been current within the prop buying and selling house since 2012.
In a discover revealed at the moment (Monday), Audacity Capital wrote: “After an intensive evaluation of our providers and insurance policies, we’ve determined to briefly pause new registrations from the USA.”
“For our present merchants, the entry to our applications stays unchanged.”
Though the corporate highlighted that the transfer was taken to “align with regulatory requirements,” it didn’t specify which regulatory framework it was referring to.
📢 Consideration Merchants! Resulting from regulatory requirements, new registrations from the U.S. are on maintain.
For our present merchants, entry to our applications stays unchanged.
We’re dedicated to offering you with the perfect service attainable.
Keep tuned for extra upcoming updates. pic.twitter.com/yPNty2AVdf
— AudaCity Capital (@Audacitycap) February 19, 2024
The Crackdown on Prop Buying and selling
Prop buying and selling is an unregulated sector. Since prop companies don’t deal with merchants’ cash for buying and selling functions, they don’t qualify as brokers. So, the stringent rules for retail brokers globally don’t apply to prop companies.
Earlier than Audacity Capital, different established prop buying and selling companies, together with The5ers and FTMO, additionally restricted providers to US-based prospects, whether or not they had been US residents or residents. A number of brokers, together with Purple Buying and selling and Blackbull Markets, terminated the gray label choices of their MetaTrader license to prop buying and selling companies. A Blackbull govt even confirmed that MetaQuotes compelled the transfer.
A number of prop buying and selling companies additionally confirmed that Eightcap, one other dealer providing brokerage providers to prop platforms, will terminate its providers on February 29. Nonetheless, the brokerage known as contract terminations of business agreements with prop companies “not unusual to us or anybody else within the trade.”
London-based Audacity Capital turns into the newest prop buying and selling agency to “briefly” droop its new onboarding of consumers based mostly in the USA. The choice got here when a number of prop buying and selling companies had been restricted from providing their providers to US prospects as a result of alleged strain from MetaQuotes, the corporate behind the MetaTrader buying and selling platforms.
Nonetheless, the service restriction is not going to affect the present prospects of the prop buying and selling platform, which claims to have been current within the prop buying and selling house since 2012.
In a discover revealed at the moment (Monday), Audacity Capital wrote: “After an intensive evaluation of our providers and insurance policies, we’ve determined to briefly pause new registrations from the USA.”
“For our present merchants, the entry to our applications stays unchanged.”
Though the corporate highlighted that the transfer was taken to “align with regulatory requirements,” it didn’t specify which regulatory framework it was referring to.
📢 Consideration Merchants! Resulting from regulatory requirements, new registrations from the U.S. are on maintain.
For our present merchants, entry to our applications stays unchanged.
We’re dedicated to offering you with the perfect service attainable.
Keep tuned for extra upcoming updates. pic.twitter.com/yPNty2AVdf
— AudaCity Capital (@Audacitycap) February 19, 2024
The Crackdown on Prop Buying and selling
Prop buying and selling is an unregulated sector. Since prop companies don’t deal with merchants’ cash for buying and selling functions, they don’t qualify as brokers. So, the stringent rules for retail brokers globally don’t apply to prop companies.
Earlier than Audacity Capital, different established prop buying and selling companies, together with The5ers and FTMO, additionally restricted providers to US-based prospects, whether or not they had been US residents or residents. A number of brokers, together with Purple Buying and selling and Blackbull Markets, terminated the gray label choices of their MetaTrader license to prop buying and selling companies. A Blackbull govt even confirmed that MetaQuotes compelled the transfer.
A number of prop buying and selling companies additionally confirmed that Eightcap, one other dealer providing brokerage providers to prop platforms, will terminate its providers on February 29. Nonetheless, the brokerage known as contract terminations of business agreements with prop companies “not unusual to us or anybody else within the trade.”
