Fairness Edge, a UK-based prop buying and selling firm, misplaced entry to the MetaTrader 5 buying and selling platform yesterday (Monday), which it was providing via a brokerage partnership. This has triggered a service disruption for the prop buying and selling agency, halting buying and selling.
“Our dealer has been going through points with Platform 5, which has triggered all accounts to be invalid,” an announcement by the prop buying and selling agency on its social media channels famous.
Nonetheless, the prop buying and selling agency didn’t identify its brokerage companion or the precise cause behind the sudden subject.
The prop buying and selling agency’s providers had been disrupted yesterday morning (UK time). As highlighted by the prop agency, it “skilled issues with the dealer server inside our platform, and all buying and selling has been stopped.” The platform’s CEO, who goes by the identify Berkay, additionally posted a video message to guarantee merchants, “apologising for the inconvenience.”
🚨 IMPORTANT ANNOUNCEMENT
Please watch this video from Moe Trades concerning our present dealer server subject.
We’re engaged on a repair and can preserve you knowledgeable.Thanks to your persistence and ongoing assist. pic.twitter.com/lPQaJuINKl
— Fairness Edge (@EquityEdgeUK) Could 27, 2024
Hours after the disruption, the prop buying and selling agency confirmed that it had onboarded the Match-Commerce buying and selling platform and would migrate its current prospects from MT5 to the brand new platform.
“We’re happy to tell you that now we have onboarded with Match-Commerce, and all accounts will probably be merged to Match-Commerce on Wednesday. We will probably be absolutely up and operating on Wednesday, with all balances precisely transferred to Match-Commerce,” the prop buying and selling agency famous.
📣 Apology and Necessary Replace Announcement📣
Pricey Fairness Edge Merchants,
We deeply apologize for the downtime you might have skilled. Our dealer has been going through points with Platform 5, which has triggered all accounts to be invalid.
We’re happy to tell you that now we have…
— Fairness Edge (@EquityEdgeUK) Could 27, 2024
Nonetheless, the platform is now going through large backlash from the merchants, most of whom are asking for payouts. The corporate assured that it’s going to launch the payouts on Wednesday.
“A few of you act as if we wish to put ourselves via this stress,” Tris, one of many Discord server moderators of the prop buying and selling platform, famous. “20-30 prop companies have confronted comparable points previously and have NOT issued accounts with the identical earlier balances and even processed earlier payouts—we’re doing each.”
He additional highlighted that the prop buying and selling agency is “engaged on bringing platform 5 again throughout the subsequent couple of weeks.”
An announcement on Fairness Edge’s Discord server
One other Wave of Prop Buying and selling Crackdown?
Earlier this 12 months, MetaQuotes, the corporate behind the 2 MetaTrader buying and selling platforms, barred brokers from grey-labelling its platforms to prop companies who had been onboarding US purchasers. The expertise agency even cracked down on the usage of its demo platform.
That transfer triggered large misery within the prop buying and selling trade, as many corporations misplaced their buying and selling platform in a single day. It led to a sudden surge in demand for MetaTrader alternate options amongst prop buying and selling companies. Nonetheless, many prop buying and selling companies continued to supply MetaTrader platforms outdoors the US market.
Not too long ago, SurgeTrader, one other prop buying and selling platform, misplaced its Match-Dealer license and was compelled to stop its operations. In response to Match-Commerce Applied sciences, the developer of Match-Dealer, the prop agency “failed to satisfy the formal necessities.”
Fairness Edge, a UK-based prop buying and selling firm, misplaced entry to the MetaTrader 5 buying and selling platform yesterday (Monday), which it was providing via a brokerage partnership. This has triggered a service disruption for the prop buying and selling agency, halting buying and selling.
“Our dealer has been going through points with Platform 5, which has triggered all accounts to be invalid,” an announcement by the prop buying and selling agency on its social media channels famous.
Nonetheless, the prop buying and selling agency didn’t identify its brokerage companion or the precise cause behind the sudden subject.
The prop buying and selling agency’s providers had been disrupted yesterday morning (UK time). As highlighted by the prop agency, it “skilled issues with the dealer server inside our platform, and all buying and selling has been stopped.” The platform’s CEO, who goes by the identify Berkay, additionally posted a video message to guarantee merchants, “apologising for the inconvenience.”
🚨 IMPORTANT ANNOUNCEMENT
Please watch this video from Moe Trades concerning our present dealer server subject.
We’re engaged on a repair and can preserve you knowledgeable.Thanks to your persistence and ongoing assist. pic.twitter.com/lPQaJuINKl
— Fairness Edge (@EquityEdgeUK) Could 27, 2024
Hours after the disruption, the prop buying and selling agency confirmed that it had onboarded the Match-Commerce buying and selling platform and would migrate its current prospects from MT5 to the brand new platform.
“We’re happy to tell you that now we have onboarded with Match-Commerce, and all accounts will probably be merged to Match-Commerce on Wednesday. We will probably be absolutely up and operating on Wednesday, with all balances precisely transferred to Match-Commerce,” the prop buying and selling agency famous.
📣 Apology and Necessary Replace Announcement📣
Pricey Fairness Edge Merchants,
We deeply apologize for the downtime you might have skilled. Our dealer has been going through points with Platform 5, which has triggered all accounts to be invalid.
We’re happy to tell you that now we have…
— Fairness Edge (@EquityEdgeUK) Could 27, 2024
Nonetheless, the platform is now going through large backlash from the merchants, most of whom are asking for payouts. The corporate assured that it’s going to launch the payouts on Wednesday.
“A few of you act as if we wish to put ourselves via this stress,” Tris, one of many Discord server moderators of the prop buying and selling platform, famous. “20-30 prop companies have confronted comparable points previously and have NOT issued accounts with the identical earlier balances and even processed earlier payouts—we’re doing each.”
He additional highlighted that the prop buying and selling agency is “engaged on bringing platform 5 again throughout the subsequent couple of weeks.”
An announcement on Fairness Edge’s Discord server
One other Wave of Prop Buying and selling Crackdown?
Earlier this 12 months, MetaQuotes, the corporate behind the 2 MetaTrader buying and selling platforms, barred brokers from grey-labelling its platforms to prop companies who had been onboarding US purchasers. The expertise agency even cracked down on the usage of its demo platform.
That transfer triggered large misery within the prop buying and selling trade, as many corporations misplaced their buying and selling platform in a single day. It led to a sudden surge in demand for MetaTrader alternate options amongst prop buying and selling companies. Nonetheless, many prop buying and selling companies continued to supply MetaTrader platforms outdoors the US market.
Not too long ago, SurgeTrader, one other prop buying and selling platform, misplaced its Match-Dealer license and was compelled to stop its operations. In response to Match-Commerce Applied sciences, the developer of Match-Dealer, the prop agency “failed to satisfy the formal necessities.”
