ThinkMarkets Ends Services for US Prop Firms' Clients Starting This Friday

Commencing this Friday, ThinkMarkets will terminate its services for prop firms' clients in the United States following a request from Instant Funding's current trading platform provider. This unexpected decision has taken many within the industry by surprise, prompting firms to swiftly explore alternative options.

Despite this significant change, Instant Funding assures its clients that it has diligently prepared for such a scenario and has devised a plan to ensure minimal disruption to their trading experience. The firm's strategy involves introducing DXtrade as an alternative trading platform for US traders, with a potential transition period extending up to three weeks. Active US traders will retain their accounts, and Instant Funding will provide regular updates on the ongoing transition.

To mitigate any potential downtime, Instant Funding will extend a complimentary $10,000 One-Phase Challenge to active US traders and provide a 30% discount code for those transitioning to DXtrade. Furthermore, the firm intends to announce promotions for its entire community following the DXtrade integration, with detailed information set to be disclosed in March.

Instant Funding strongly advises all active account holders to close their positions before the conclusion of the trading session on February 23. Accounts with open trades at market close will experience automatic closure of their positions.

In an intriguing development, Matt Lark, CEO of prop firm Lark Funding, disclosed last week that they had received assurances from ThinkMarkets regarding their operations and a “solid relationship” with MetaQuotes.

Numerous firms, including AquaFunded, Bespoke, Forex Capital Funds, Goat Funded Trader, Instant Funding, Lark Funding, Ment Funding, My Flash Funding, My Funded FX, Skilled Funded Traders, Swift Funding, The Funded Trader, and Traddoo, rely on ThinkMarkets.

The stricter approach adopted by MetaQuotes has prompted several prop firms to cease their services. The community's response has been a combination of concern and confusion. Discussions on X platform reflect a sense of urgency to adapt to these changes, with compliance timelines varying according to different sources. Speculation is rife that brokers in violation of jurisdictional regulations must rectify their status by as late as June 30.