In one other blow to the prop buying and selling business, Funding Pips has abruptly closed buying and selling and stopped providers for all merchants. Finance Magnates has discovered that the prop buying and selling firm has despatched notices to its purchasers calling the transfer an “sudden pressing upkeep.”
“We’ll search an answer for all merchants who’ve had an open commerce that closed in a loss by our system”
-Funding Pips 👇🏼 pic.twitter.com/c9bxnAhtAG
— PropSafe (@propsafeio) February 14, 2024
The Position of Blackbull
The service of Funding Pips was disrupted as its solely brokerage accomplice, Blackbull Markets, has terminated its providers. A consultant of the dealer additionally confirmed that it was pressured to terminate its providers to prop buying and selling by MetaQuotes.
“We we’re sadly in breach of our gray label licence skill to supply this for prop companies so we’re pressured to right away shut down Funding Pips as a consumer and their server on our Demo atmosphere. Word, they solely ever operated on our Demo server through MT5,” a Blackbull Markets consultant informed Finance Magnates.
“We have now not misplaced our license with Metaquotes and proceed to function enterprise as regular. There is a matter with our cell utility which our groups are engaged on restoring.”
Blackbull is headquartered in Auckland, New Zealand, and provides retail buying and selling providers with its licenses obtained from the regulators in New Zealand, Seychelles, and the UK. The dealer expanded to the European Union by partnering with Cyprus-based HokoCloud for providing copy buying and selling providers and acquired ATM Technique, an impartial analysis agency.
As seen on its web site, Blackbull provides buying and selling providers with a number of third-party platforms, together with MetaQuotes-owned MetaTrader 4 and MetaTrader 5, and cTrader.
It’s not confirmed if prop buying and selling platforms, apart from Funding Pips are utilizing the providers of Blackbull Markets.
Blackbull assist:
“Kindly be suggested that we solely present demo know-how to FundingPips and our partnership ended right this moment. Subsequently, with reference to any points associated together with your registered buying and selling account with FundingPips you will have to succeed in out to them for additional help”
— PropSafe (@propsafeio) February 14, 2024
A Dubai-Based mostly Prop Buying and selling Agency
On its web site, Funding Pips mentions that it’s based mostly in Dubai however doesn’t supply providers in United Arab Emirates, United States and Vietnam, labeling them as “restricted international locations.”
Rumours circulating that Blackbull has misplaced its MetaQuotes buying and selling license.
This follows business extensive hypothesis that MQ will probably be cracking down on all brokers and prop companies accepting US purchasers.
— PropSafe (@propsafeio) February 14, 2024
Finance Magnates reached out to MetaQuotes however didn’t obtain any response as of press time.
In one other blow to the prop buying and selling business, Funding Pips has abruptly closed buying and selling and stopped providers for all merchants. Finance Magnates has discovered that the prop buying and selling firm has despatched notices to its purchasers calling the transfer an “sudden pressing upkeep.”
“We’ll search an answer for all merchants who’ve had an open commerce that closed in a loss by our system”
-Funding Pips 👇🏼 pic.twitter.com/c9bxnAhtAG
— PropSafe (@propsafeio) February 14, 2024
The Position of Blackbull
The service of Funding Pips was disrupted as its solely brokerage accomplice, Blackbull Markets, has terminated its providers. A consultant of the dealer additionally confirmed that it was pressured to terminate its providers to prop buying and selling by MetaQuotes.
“We we’re sadly in breach of our gray label licence skill to supply this for prop companies so we’re pressured to right away shut down Funding Pips as a consumer and their server on our Demo atmosphere. Word, they solely ever operated on our Demo server through MT5,” a Blackbull Markets consultant informed Finance Magnates.
“We have now not misplaced our license with Metaquotes and proceed to function enterprise as regular. There is a matter with our cell utility which our groups are engaged on restoring.”
Blackbull is headquartered in Auckland, New Zealand, and provides retail buying and selling providers with its licenses obtained from the regulators in New Zealand, Seychelles, and the UK. The dealer expanded to the European Union by partnering with Cyprus-based HokoCloud for providing copy buying and selling providers and acquired ATM Technique, an impartial analysis agency.
As seen on its web site, Blackbull provides buying and selling providers with a number of third-party platforms, together with MetaQuotes-owned MetaTrader 4 and MetaTrader 5, and cTrader.
It’s not confirmed if prop buying and selling platforms, apart from Funding Pips are utilizing the providers of Blackbull Markets.
Blackbull assist:
“Kindly be suggested that we solely present demo know-how to FundingPips and our partnership ended right this moment. Subsequently, with reference to any points associated together with your registered buying and selling account with FundingPips you will have to succeed in out to them for additional help”
— PropSafe (@propsafeio) February 14, 2024
A Dubai-Based mostly Prop Buying and selling Agency
On its web site, Funding Pips mentions that it’s based mostly in Dubai however doesn’t supply providers in United Arab Emirates, United States and Vietnam, labeling them as “restricted international locations.”
Rumours circulating that Blackbull has misplaced its MetaQuotes buying and selling license.
This follows business extensive hypothesis that MQ will probably be cracking down on all brokers and prop companies accepting US purchasers.
— PropSafe (@propsafeio) February 14, 2024
Finance Magnates reached out to MetaQuotes however didn’t obtain any response as of press time.
