Prop Firms May Updates- All In One!

Howdy, everyone. We’re here with all the updates on the prop trading firms that occurred during May 2023. Now, these updates will cover features that individual prop trading firms implemented, so some changes in trading objectives and some removal of specific trading rules and conditions. But that being said, without further ado, let’s jump into May’s proprietary trading firm updates.

Prop Firms May Updates

Let’s get started with the Prop Firms Updates:

E8 Funding

First is E8 Funding. They implemented some changes in May.

They have changed their drawdown type to balance based on their E8 track funding program.
Now, the second update was the introduction of the E8 Anova tool, a revolutionary tool that will provide traders with an in-depth analysis of their trading volumes, giving them an edge over the market.
Lastly, from E8 funding, they have successfully completed their migration to new MetaTrader5 servers, which will additionally improve the trading conditions that the firm provides to traders worldwide.

FundedNext

Moving on next to FundedNext, they’ve also made some significant changes throughout May.

The first was the implementation of the long-awaited MetaTrader5 as a new trading platform. So, traders can now choose between MetaTrader4 and MetaTrader5.
Another update was the introduction of the new $6,000 account size for all funding programs.
In addition, FundedNext also introduced two new funding programs. We have a one-step Stellar Challenge and a two-step Stellar Challenge.
The last update they implemented was the introduction of swap-free accounts for their funding programs.

The Funded Trader

The next prop firm update we’ll cover is The Funded Trader. So, they’ve made three updates in the month of May.

The first is the introduction of automated payouts, which will help the firm avoid late payments and issue instant refunds to their traders.
The second update was that they had reached a new broker agreement with Eightcap, a significant milestone in fostering a long-standing partnership with a very established broker.
And if that wasn’t enough, lastly, The Funded Trader is working on introducing numerous changes to their standard challenge accounts. They’ve announced that the trading days for phase one and phase two will be removed, and there will also be a change to drawdown rules.

Fidelcrest

Next up, Fidelcrest. They’ve made some significant changes in May as well.

So, they’ve introduced larger account sizes of micro-accounts. So, traders are now able to choose between $15,000, $30,000, and $60,000 account sizes.
The second update from Fidelcrest was the introduction of add-ons that will enable traders to choose an additional fee once purchasing an evaluation account.
And the last change from Fidelcrest was numerous rule changes. They’ve removed the minimum trading day requirement and the mandatory stop-loss rule. They now also allow news trading, weekend trading, and copy trading. The maximum trading period of phase one has also been increased to 60 calendar days.

Alpha Capital Group

Next up is Alpha Capital Group. They’ve made a few changes to their trading rules while implementing some handy features.

They have removed their lot size reduction rule, meaning you no longer have to follow consistent lot sizes while trading with them.
They have reduced the price of the 100K evaluation challenge down to $497 USD.
Another trading rule that was changed was the minimum trading day requirement.
So, they’ve changed the minimum trading days from five in each phase to now three calendar days.
They have also changed the time for the trader to receive their first payout to 14 calendar days.
And lastly, phase one to phase two account progression is fully automated and instant upon successfully meeting all the requirements.

FunderPro

Next up, FunderPro. They’ve only made one update through May; however, it is a major one.

They have introduced a new trading platform, Trade Locker Beta, which will offer traders a more innovative way to trade. Recognizing the surge in traders working on the move, this is an excellent update by FunderPro.

MyFundedFX

Next up is MyFundedFX. They’ve introduced ThinkMarkets as their second broker option. ThinkMarkets is a multi-award provider of online trading services, and it has officially launched on its MetaTrader 4 servers. This collaboration between these two entities aims to provide MyFundedFX traders with enhanced trading opportunities. This will also improve functionality and access to a broader range of financial markets.

Bespoke Funding

Bespoke Funding has also made a change in its trading rules.

They have removed news trading restrictions, meaning Bespoke Funding traders can now trade during high-impact news releases without limitations.

Leveled Up Society

Leveled Up Society has also leveled up. They have yet to implement a change during May.

It wasn’t anything regarding the trading rules or trading platform. But they have implemented a brand new look to their website. So, they shared that the new website is a significant milestone in the company’s ongoing commitment to innovation and excellence in trading.

The Trading Pit

Onto our last couple. So, The Trading Pit is a new trading firm that we are talking about:

Now, they’ve introduced two new payment methods to provide their community with a more versatile approach when purchasing a funding program with the firm. So, they’ve introduced Apple Pay and Bitcoin as two new payment methods.

OspreyFX

And the last prop firm that has made a change to its trading platforms is OspreyFX. They have also introduced TradeLocker Beta as a new trading platform.

Well, everyone, these have been the updates and changes of the proprietary trading firm market throughout May 2023 from some of the leading players in the industry.

For more detailed information about the updates, watch the video: