MyFundedFX
(MFFX) unveiled plans to allow non-U.S. traders to migrate back to the MetaTrader
5 (MT5) platform through the newly established brokerage Seacrest Markets
platform.
The
voluntary migration process opens immediately through an online submission
form, with the actual platform transition scheduled for January 24, 2025,
between 9:00 AM and 5:00 PM EST. Traders must ensure all positions are closed
and no pending orders remain before the migration.
Matthew Leech, CEO of MyFundedFX
“We
have been hard at work to bring this back to you and hopefully this will show
you we are dedicated to providing our customers with what they want,”
stated MFFX
management in their announcement to traders via Discord. “We would like to
thank you for your time and wish you the best on your trading journey.”
The company
emphasized that traders satisfied with their current platform can maintain
their existing arrangements via MatchTrade and DXtrade platforms. However,
those opting for migration must carefully manage their positions, as any open
trades during the transition will be automatically closed at prevailing market
rates without compensation.
“If you
fill out the submission form, please make sure all your positions are flat with no
pending orders. If you fill out the form and your account goes for
migration and you have open positions they will be closed at a loss or gain but
will not be compensated,” MFFX added.
MyFundedFX was among the companies that, a year ago,
found themselves amidst
regulatory and platform-related turmoil involving MetaQuotes, the provider
of the MetaTrader platform. At the time, the company acknowledged initiating a
migration of its clients to the DXtrade platform as the primary alternative to
MT.
Source: MFFX’s Discord
Seacrest Markets
Access to
MetaTrader for MyFundedFX clients will be provided by FX/CFD broker Seacrest
Markets. If you haven’t heard of it before, that’s because it has only recently
been officially launched.
SeacrestMarkets will be launching soon and is set to become your favorite broker of choice!https://t.co/vUctr3sEiI pic.twitter.com/2nSHocRGGk
— Seacrest Markets (@seacrestmarkets) January 8, 2025
While the
platform has been operational for a few days, it has held an official license
from South Africa’s FSCA since September 2023. Currently, the broker encourages
new clients to test its platform through demo accounts.
Register at https://t.co/cGBR8aDfvF and test out our trading conditions within a demo environment.
– Competitive and Reliable trading conditions
– Licensed CFD Broker
– Trade across FX, Indices, Commodities, Metals, Energy and Crypto.or simply join our discord community 👇
— Seacrest Markets (@seacrestmarkets) January 20, 2025
Meanwhile, MFFX clients
are asking on Discord whether this partner is trustworthy and if transferring
their funds from other accounts to Seacrest Markets is safe.
“Hey,
is Seacrest Markets reliable in the long term with your team? I’m considering
purchasing a $50K account for the MT5 platform,” user nicknamed Neptic wrote.
“Consitency Rule” and Suspension of over
20 Countries
Finance
Magnates last
reported on MyFundedFX in October 2024, when its sister company,
MyFundedFutures (MFF), announced updates to its affiliate program. Under the
revised terms, affiliates failing to generate a sufficient number of
“individual purchases” would be removed from the program.
MFF also
introduced compliance -related changes requiring direct collaboration with
U.S.-registered Futures Commission Merchants (FCMs). As a result, the
proprietary trading firm ceased offering services to residents of 21 countries.
While these individuals can no longer purchase new evaluations or challenges,
existing account holders in these regions remain unaffected.
Earlier, in
July, the U.S.-based proprietary trading company, rescinded its recently
implemented consistency rule after significant backlash from clients. The rule,
aimed at discouraging high-risk trading strategies, had been in effect for only
two weeks before being discontinued due to widespread criticism from traders.
MyFundedFX
(MFFX) unveiled plans to allow non-U.S. traders to migrate back to the MetaTrader
5 (MT5) platform through the newly established brokerage Seacrest Markets
platform.
The
voluntary migration process opens immediately through an online submission
form, with the actual platform transition scheduled for January 24, 2025,
between 9:00 AM and 5:00 PM EST. Traders must ensure all positions are closed
and no pending orders remain before the migration.
Matthew Leech, CEO of MyFundedFX
“We
have been hard at work to bring this back to you and hopefully this will show
you we are dedicated to providing our customers with what they want,”
stated MFFX
management in their announcement to traders via Discord. “We would like to
thank you for your time and wish you the best on your trading journey.”
The company
emphasized that traders satisfied with their current platform can maintain
their existing arrangements via MatchTrade and DXtrade platforms. However,
those opting for migration must carefully manage their positions, as any open
trades during the transition will be automatically closed at prevailing market
rates without compensation.
“If you
fill out the submission form, please make sure all your positions are flat with no
pending orders. If you fill out the form and your account goes for
migration and you have open positions they will be closed at a loss or gain but
will not be compensated,” MFFX added.
MyFundedFX was among the companies that, a year ago,
found themselves amidst
regulatory and platform-related turmoil involving MetaQuotes, the provider
of the MetaTrader platform. At the time, the company acknowledged initiating a
migration of its clients to the DXtrade platform as the primary alternative to
MT.
Source: MFFX’s Discord
Seacrest Markets
Access to
MetaTrader for MyFundedFX clients will be provided by FX/CFD broker Seacrest
Markets. If you haven’t heard of it before, that’s because it has only recently
been officially launched.
SeacrestMarkets will be launching soon and is set to become your favorite broker of choice!https://t.co/vUctr3sEiI pic.twitter.com/2nSHocRGGk
— Seacrest Markets (@seacrestmarkets) January 8, 2025
While the
platform has been operational for a few days, it has held an official license
from South Africa’s FSCA since September 2023. Currently, the broker encourages
new clients to test its platform through demo accounts.
Register at https://t.co/cGBR8aDfvF and test out our trading conditions within a demo environment.
– Competitive and Reliable trading conditions
– Licensed CFD Broker
– Trade across FX, Indices, Commodities, Metals, Energy and Crypto.or simply join our discord community 👇
— Seacrest Markets (@seacrestmarkets) January 20, 2025
Meanwhile, MFFX clients
are asking on Discord whether this partner is trustworthy and if transferring
their funds from other accounts to Seacrest Markets is safe.
“Hey,
is Seacrest Markets reliable in the long term with your team? I’m considering
purchasing a $50K account for the MT5 platform,” user nicknamed Neptic wrote.
“Consitency Rule” and Suspension of over
20 Countries
Finance
Magnates last
reported on MyFundedFX in October 2024, when its sister company,
MyFundedFutures (MFF), announced updates to its affiliate program. Under the
revised terms, affiliates failing to generate a sufficient number of
“individual purchases” would be removed from the program.
MFF also
introduced compliance -related changes requiring direct collaboration with
U.S.-registered Futures Commission Merchants (FCMs). As a result, the
proprietary trading firm ceased offering services to residents of 21 countries.
While these individuals can no longer purchase new evaluations or challenges,
existing account holders in these regions remain unaffected.
Earlier, in
July, the U.S.-based proprietary trading company, rescinded its recently
implemented consistency rule after significant backlash from clients. The rule,
aimed at discouraging high-risk trading strategies, had been in effect for only
two weeks before being discontinued due to widespread criticism from traders.
