With this new video, Forex Prop Reviews go over all the updates and primarily covers features specific prop trading firms have implemented to give their communities more choices and advantages in December.
Prop Firms December Updates
To learn about the latest updates that Prop Firms made in December, let’s dive right in:
My Forex Funds
Starting with My Forex Funds as the first proprietary trading company, there has only been one update from them; Minimum Withdrawal Policy:
- $50 profit on a $5K, $10K, and $20K account
- $100 profit on $50K and $100K account
- $150 profit on a $200K and $300K account
The modification will make it easier for My Forex Funds to manage the expenses associated with paying out payouts to their traders. Additionally, it will stop people from taking a low-risk approach first and just waiting for their refund.
Another firm that engages in prop trading that has made changes throughout December and into the new year is Finotive Funding. And the changes are:
- Updated EA rules
Trading accounts for Challenge and Instant Funding now support EAS. An EA’s source code is no longer required from traders before they can use it.
- New account currencies
This will enable traders to save money on exchange fees when purchasing accounts. They can also request a profit split when they request their well-earned cash withdrawals.
One of the prop trading companies that introduced the new feature for the benefit of all of its traders is FundedNext.
- New MetaTrader 4 web-based trading platform
For the first time, this happened because some people had issues using the app on their smartphones; as a result, FundedNext decided to listen to their community and release a web version.
In December, Fidelcrest made a sizable update.
- The 10-day minimum trading day requirement rule is overturned.
A quicker review process made it possible; for traders could get funded in as little as two days.
Lux Trading Firm
Lux Trading Firm implemented three significant updates in December of the previous year.
- The drawdown increased from 4% to 5%.
It will help all traders and give them an additional one percent to work with.
- Scaling plans change for an elite trader.
They can now take advantage of having just one scaling stage. Less is on their way to having accounts with 10 million.
- $150 account upgrade to $200k
If traders are looking for a rather large account balance, consider that the account size is significantly less expensive than the industry average for a $200k account in prop trading firms.
The Prop Trading
- Disabled website
- Disabled social media pages
- Currently under investigation by ASIC
Trading in The Prop Trading firm run by the Australian Securities and Investments Commission (ASIC) has been ceased. Before anything like this happened, they were doing incredibly well.
Watch the video for details:
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