Why did some prop firms stop accepting US traders?
Quick answer
In early 2024, MetaQuotes, the maker of MetaTrader 4 and 5, acted against prop firms using its platforms with US clients, reportedly over regulatory concerns. Brokers providing MetaTrader access to prop firms were pushed to withdraw it, and several firms paused trading or stopped accepting US traders.
Detailed answer
What happened:
- In February 2024 MetaQuotes moved against prop firms with active US accounts, according to industry reporting.
- Brokers that had been sharing MetaTrader licences with prop firms, a practice known as grey labelling, stopped serving them.
- Some firms halted trading temporarily, migrated to other platforms such as Match-Trader, DXtrade or cTrader, or restricted US clients.
Lessons for founders:
- Know whether your platform licence permits prop use and which countries are allowed.
- Avoid depending on a licence held by someone else.
- Keep a migration path, which is easier when your platform gives you API access to your data.
PropExecutor runs its own terminal and does not depend on a MetaTrader licence.
What it means today
Before launching, confirm in writing which countries your platform licence allows, rather than assuming access will continue.
Keep the same caution for every country your platform or payment provider might restrict, and review it whenever terms change.
PropExecutor team · Updated
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