Prop firms Updates -3rd week of February 2024 (2024)

We've collected for you the latest news from the most important prop firms in the industry , all in one place. Which makes it easier for traders to stay up-to-date on the latest developments and catch the updated information they need.

Prop firms Updates -3rd week of February 2024 (1)

  • TopTier Trader Implements Overleveraging Rule to Manage Position Sizes

TopTier Trader has introduced the Overleveraging Rule, a new rule focusing on the size of trading positions. The rule states that the total position size for indices cannot exceed 125 lots per 100,000 account size on both the MT4 and MT5 platforms. However, on TradeLocker, the limit is set at 12.5 lots for the same account size. Traders can add positions in drawdown or profit, but the accumulated position size per instrument must not exceed 25% of the Daily Drawdown (DD) allowed. This rule is essential for risk management and maintaining a healthy trading environment. TopTier Trader emphasizes that adherence to the rule is crucial for risk management and maintaining a healthy trading environment.

  • Funding Pips Relaunches with Exciting Platform Updates

Funding Pips, a prominent trading platform, has successfully completed the migration from Match Trader to the new platform, offering traders a seamless transition. The platform's integration allows traders to request a change of platform after each evaluation phase, ensuring hassle-free switches. Funding Pips prioritizes fair treatment for traders and has a dedicated Match Trader interface accessible only through the "Start Trading" button on the dashboard.

Upcoming features include an SL/TP move feature, Ctrader and TradeLocker going live next week, and a 200k account option on the horizon. Recovery efforts are underway despite operational delays due to a recent blackout. Balance-based Daily Drawdown calculations will be implemented once all platforms are up, and an account copying feature is in development. A 200k account option is on the horizon, and payouts delayed by a week due to the blackout will be processed soon. Floating losses and profits during server shutdowns are being addressed. The team is working to ensure a smooth trading experience for traders, with exciting surprises planned once all platforms are fully operational.

  • Blue Guardian and Aqua Funded: New Account Registrations Restricted for US Clients

Blue Guardian and Aqua Funded have imposed restrictions on new account registrations for US clients, affecting both US residents and individuals with dual citizenship. Existing US clients can continue trading without interruption until further notice. The financial institutions are working on integrating DX Trade, a cutting-edge trading platform, by the end of this month. A regulated broker will be established for non-US clients to ensure seamless trading experiences. The temporary pause on new US client registrations ensures a smooth transition to the upcoming platform. Current US clients can continue trading without interruption, while clients outside the US will not experience any changes to their account status. The introduction of DX Trade is expected to enhance the trading experience.

  • BrightFunded Partners with Confirmo to Enhance Cryptocurrency Transactions

BrightFunded, a leading crypto payment processor, has partnered with Confirmo to address recent issues caused by Coinbase's changes. The partnership aims to streamline crypto transfers and improve user experiences. BrightFunded is also integrating support for the Tron Network, ensuring smoother transactions and increased accessibility for Tron enthusiasts. The integration process is expected to be completed within the next week, offering a more efficient and user-friendly platform. Confirmo's technology enables easy transfers to crypto wallets, simplifying the crypto journey for users.

  • MT4/5 Delisted from App Stores: Indian Traders Face Forex Trading Restrictions

MetaTrader 4 and MetaTrader 5 have been removed from the Google Play Store and Apple App Store, affecting Indian traders' ability to engage in forex trading within the country. The reasons behind the removal remain undisclosed, leading to speculation. iOS users must now seek alternative platforms for forex trading, while Android users can continue using MT4 and MT5 via the Google Play Store. The Reserve Bank of India (RBI) maintains an Alert List of unauthorized forex trading platforms, with 56 currently listed. The RBI cautions against using unapproved platforms for forex transactions and will restrict data usage on TradingView to curb unauthorized activities. A forthcoming list of unauthorized electronic trading platforms and firms will reinforce compliance and transparency. Indian traders should exercise caution and adhere to authorized platforms.

  • The Funded Trader Introduces Weekly Payouts Add-On: Accelerate Your Trading Gains

The Funded Trader, a platform for traders, is introducing a new feature called the Rapid Challenge. Traders can now withdraw their profits every 14 days, allowing them to access their gains regularly. This feature is available to both Swing and Regular Account users. The platform is also launching a Weekly Payouts Add-On, allowing users to withdraw funds every 7 days. This feature is not limited to specific account types, allowing traders to manage their gains more strategically and adapt to market dynamics. To start, users can select the Rapid Challenge when setting up their account and enable the Weekly Payouts Add-On in their account settings. The platform is set to launch the Weekly Payouts Add-On soon.

Prop firms Updates -3rd week of February 2024 (2024)


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