Prop Trading Firm Bespoke to Resume Onboarding US-Clients with ThinkTrader Integration

Prop Trading Firm Bespoke to Resume Onboarding US-Clients with ThinkTrader Integration

Time Stamp: March 4, 2024 1:35 AM
Prop Trading Firm Bespoke to Resume Onboarding US-Clients with ThinkTrader Integration PlatoBlockchain Data Intelligence. Vertical Search. Ai.

Bespoke, a Dubai-based prop reading firm, has confirmed its migration to ThinkTrader, the proprietary trading platform of brokerage Think Markets. Lewis Kaler, the CEO of Bespoke, confirmed that his platform will resume services to United States-based customers.

“Migration to ThinkTrader is taking place this weekend,” Kaler wrote in a Tweet. “Once migration is complete, we will open our doors back up to US Traders for evaluation purchased.”

“We asked about allowing [the] US again & we got the green light.”

Officially known as the Bespoke Funding Program, the prop trading platform offers funding up to $400,000 with its top-tier program, as seen on its website. It also has a strong community of traders with over 28,100 followers on its Discord server. Additionally, its social media pages have substantial followings: 47,600 on X (formerly Twitter) and 63,500 on Instagram. According to its Discord, the platform has 402 faded traders as of press time.

MetaQuotes Alleged Crackdown Shook Prop Trading Firms

The confirmation followed ThinkMarkets’ termination of contracts with several prop trading firms offering services to US clients under its MetaTrader license through grey labeling, which occurred last month.

Then, a source close to the matter at ThinkMarkets confirmed to Finance Magnates about the broker’s notice to “existing proprietary trading firms to cease onboarding US registrations and to terminate any existing US customers.”

“Additionally, we have decided to temporarily suspend onboarding services to such firms and are currently re-evaluating our existing arrangements to ensure they align with our standards.”

Before the MetaQuotes’ alleged crackdown, ThinkMarkets was only grey-labeling its MetaTrader licenses to prop trading firms. Although MetaQuotes was not officially confirmed, many industry insiders confirmed that the technology provider forced brokers to stop offering MetaTrader to the US customers of prop trading firms.

Now, ThinkTrader is the proprietary trading platform of ThinkMarkets, meaning it controls the licenses. According to the broker’s website, the proprietary trading platform can be accessed via web browsers, desktop apps, and mobile apps.

Apart from Bespoke, several other prop trading platforms confirmed the ongoing or completed migration process. Last week, MyFundedFX confirmed the migration to cTrader and is in the process of integrating Match-Trader. Several other prop trading firms are integrating Match-Trader and DXtrade.

Bespoke, a Dubai-based prop reading firm, has confirmed its migration to ThinkTrader, the proprietary trading platform of brokerage Think Markets. Lewis Kaler, the CEO of Bespoke, confirmed that his platform will resume services to United States-based customers.

“Migration to ThinkTrader is taking place this weekend,” Kaler wrote in a Tweet. “Once migration is complete, we will open our doors back up to US Traders for evaluation purchased.”

“We asked about allowing [the] US again & we got the green light.”

Officially known as the Bespoke Funding Program, the prop trading platform offers funding up to $400,000 with its top-tier program, as seen on its website. It also has a strong community of traders with over 28,100 followers on its Discord server. Additionally, its social media pages have substantial followings: 47,600 on X (formerly Twitter) and 63,500 on Instagram. According to its Discord, the platform has 402 faded traders as of press time.

MetaQuotes Alleged Crackdown Shook Prop Trading Firms

The confirmation followed ThinkMarkets’ termination of contracts with several prop trading firms offering services to US clients under its MetaTrader license through grey labeling, which occurred last month.

Then, a source close to the matter at ThinkMarkets confirmed to Finance Magnates about the broker’s notice to “existing proprietary trading firms to cease onboarding US registrations and to terminate any existing US customers.”

“Additionally, we have decided to temporarily suspend onboarding services to such firms and are currently re-evaluating our existing arrangements to ensure they align with our standards.”

Before the MetaQuotes’ alleged crackdown, ThinkMarkets was only grey-labeling its MetaTrader licenses to prop trading firms. Although MetaQuotes was not officially confirmed, many industry insiders confirmed that the technology provider forced brokers to stop offering MetaTrader to the US customers of prop trading firms.

Now, ThinkTrader is the proprietary trading platform of ThinkMarkets, meaning it controls the licenses. According to the broker’s website, the proprietary trading platform can be accessed via web browsers, desktop apps, and mobile apps.

Apart from Bespoke, several other prop trading platforms confirmed the ongoing or completed migration process. Last week, MyFundedFX confirmed the migration to cTrader and is in the process of integrating Match-Trader. Several other prop trading firms are integrating Match-Trader and DXtrade.

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