Following our report from last week that popular forex retailer Funding Pips had ceased operations following MT4/MT5 developer MetaQuotes’ abrupt termination of services due to active US accounts, the company says it is in the process of adding some alternatives trading platforms for its customers.
In a Discord message, Funding Pips CEO Khaled Ayesh stated that the company is adding trading platforms (in order) Match-Trader, cTrader, DXtrade, as well as TradeLocker. Ayesh said that after migration [ed: of client accounts] and by adding all platforms, traders will have the freedom to choose which platform they want to use.
In a separate Discord message, Khaled Ayesh said that Funding Pips will return “in 10 days maximum”. This message was issued early on February 16.
Funding Pips’ move comes as Cyprus-based MetaQuotes, developer of MT4 and MT5 trading platforms and applications, continues to inform brokerage clients that it no longer wishes to “prop business” on its platforms and will revoke brokers’ licenses . which allow prop trading clients to trade on MT4 or MT5.
Why is MetaQuotes going out of business?
The video below released by well-known FX industry analyst Boris Schlossberg of BKTraders explains the situation and what it could mean for the future of the support industry.