Prop Trading Crackdown Continues: Alpha Capital Group and MyFundedFX Restrict Services for US Clients

The tightening of industry regulations and recent measures taken by MetaQuotes against the prop trading industry are having an increasing impact. Proprietary trading companies, Alpha Capital Group and MyFundedFX, have recently announced restrictions on their services for US clients. This follows similar actions taken by companies like Crypto Fund Trader​, Eightcap​, Funding Pips​, FTMO, and The5ers who have already restricted their services in the US.

Alpha Capital Group

Alpha Capital Group, a British prop trading firm, stated in a Monday post on its X platform, "Due to the recent market development in the United states (US) we have made the decision to suspend purchases from new and existing clients in the US effective immediately. This decision was not made lightly nor was it based on assumption from recent market noise, we sought direct clarification on this matter through the relevant channels for certainty around this issue.

"As we have successfully done in our residing jurisdictions, we will continue to progress with legal clarification from the relevant parties in the US on whether we are able to reopen operations within the US or not. If and when that day occurs, we would be able to present our platform partners with this evidence and proceed to reopen our service to the US with confidence."

Alpha Capital Group has also assured clients in other jurisdictions that its business will continue as usual.

MyFundedFX

MyFundedFX, a proprietary trader headquartered in Texas, USA, announced that its US customers are restricted to purchasing new challenges exclusively on DXtrade, a trading platform owned by Devexperts.

The company posted on X on Sunday: "Effectively immediately, US clients are restricted to only purchasing new challenges on DXtrade. This includes residents of the US and those living in the US with dual citizenship.

"All existing US clients may continue trading this week as normal. We are still coordinating with our tech team but your accounts will be migrated off of MetaTrader and onto DXtrade sometime later this month."

MyFundedFX emphasized that clients outside the United States are not affected by the move and they are working hard to address industry challenges and are pushing to provide more options to its U.S. traders soon.