IC Markets Enters Prop Trading Industry with Soft Launch of icfund.com

IC Markets, a leading online trading provider, is making its foray into the prop trading industry with the soft launch of its prop trading platform icfund.com.

While still in the trial stage, icfund.com is now accessible to clients who can register and explore the platform's various features. On the homepage, icfund.com has also announced its upcoming "IC Funded Challenge," a campaign that currently does not accept applications from the United States, Australia, Canada, and Hong Kong.

The growing interest in prop trading​ has attracted well-known forex brokerages like Hantec Group​, Raise FX, OANDA, and YaMarkets to enter the field. However, it is important for participants to exercise caution as the regulation in the prop trading industry is not yet fully developed. 

In February of this year​, MetaQuotes, the developer of the popular trading platform MT4/MT5, took strong measures by terminating the licenses of several prop companies. Consequently, prop trading firms such as True Forex Funds, Funding Pips, and Eightcap were compelled to cease their services to customers in the US.

In the following month, many companies in the industry opted to switch to alternative trading platforms like DXtrade or cTrader to resume their operations. Nevertheless, the "grey" regulatory environment in the prop trading industry remains a significant concern that market participants venturing into this field must approach with caution.