Crypto Fund Trader is set to launch its “Crypto Futures Platform” on August 1, becoming the first trader-funded firm (TFF) to offer futures trading based solely on digital tokens. This move positions Crypto Fund Trader among the growing list of proprietary trading firms expanding into the futures market.
New Platform Features
Announcing the launch on social media, Crypto Fund Trader revealed that the platform will offer 120 leveraged pairs for digital assets, available to traders worldwide without country restrictions. This development is particularly notable given that the firm had to suspend services for US clients on MetaTrader 5 five months ago due to regulatory pressures from MetaQuotes.
Industry Reactions and Comparisons
While Crypto Fund Trader’s new platform has been well-received, another recent launch by The Funded Trader has sparked controversy. The community has expressed concerns over The Funded Trader’s delayed payouts, viewing the creation of a new entity as a potential “rug pull.”
Broader Trends in Prop Trading
The proprietary trading industry has seen significant activity and change recently. Bullo, another prop trading service provider, announced it would suspend prop trading due to regulatory issues and rebrand as a brokerage firm, with a new platform launch scheduled for August 5.
MyFlashFunding, facing fund payout challenges, opted against bankruptcy. Instead, it agreed to be acquired by Sway Funded, contingent on the immediate repayment of all arrears to existing clients.
In late July, Blueberry Markets, a CFD broker, entered the prop trading sector, joining established brands like OANDA, Hantec, and Axi, which offer their own prop trading challenges.
Additionally, MyFundedFX introduced a “consistency rule” in early July to curb illegal trading practices but reversed the decision two weeks later following negative client feedback.
More coverage: Forex News
