MyFundedFX (MFFX) unveiled plans to allow non-U.S. traders to migrate back to the MetaTrader 5 (MT5) platform through the newly established brokerage Seacrest Markets platform.

MyFundedFX Restores MetaTrader 5 Access

The voluntary migration process opens immediately through an online submission form, with the actual platform transition scheduled for January 24, 2025, between 9:00 AM and 5:00 PM EST. Traders must ensure all positions are closed and no pending orders remain before the migration.

“We have been hard at work to bring this back to you and hopefully this will show you we are dedicated to providing our customers with what they want,” stated MFFX management in their announcement to traders via Discord. “We would like to thank you for your time and wish you the best on your trading journey.”

The company emphasized that traders satisfied with their current platform can maintain their existing arrangements via MatchTrade and DXtrade platforms. However, those opting for migration must carefully manage their positions, as any open trades during the transition will be automatically closed at prevailing market rates without compensation.

“If you fill out the submission form, please make sure all your positions are flat with no pending orders. If you fill out the form and your account goes for migration and you have open positions they will be closed at a loss or gain but will not be compensated,” MFFX added.

MyFundedFX was among the companies that, a year ago, found themselves amidst regulatory and platform-related turmoil involving MetaQuotes, the provider of the MetaTrader platform. At the time, the company acknowledged initiating a migration of its clients to the DXtrade platform as the primary alternative to MT.

Seacrest Markets

Access to MetaTrader for MyFundedFX clients will be provided by FX/CFD broker Seacrest Markets. If you haven’t heard of it before, that’s because it has only recently been officially launched.

While the platform has been operational for a few days, it has held an official license from South Africa’s FSCA since September 2023. Currently, the broker encourages new clients to test its platform through demo accounts.

Meanwhile, MFFX clients are asking on Discord whether this partner is trustworthy and if transferring their funds from other accounts to Seacrest Markets is safe.

“Hey, is Seacrest Markets reliable in the long term with your team? I’m considering purchasing a $50K account for the MT5 platform,” user nicknamed Neptic wrote.

“Consitency Rule” and Suspension of over 20 Countries

Finance Magnates last reported on MyFundedFX in October 2024, when its sister company, MyFundedFutures (MFF), announced updates to its affiliate program. Under the revised terms, affiliates failing to generate a sufficient number of “individual purchases” would be removed from the program.

MFF also introduced compliance-related changes requiring direct collaboration with U.S.-registered Futures Commission Merchants (FCMs). As a result, the proprietary trading firm ceased offering services to residents of 21 countries. While these individuals can no longer purchase new evaluations or challenges, existing account holders in these regions remain unaffected.

Earlier, in July, the U.S.-based proprietary trading company, rescinded its recently implemented consistency rule after significant backlash from clients. The rule, aimed at discouraging high-risk trading strategies, had been in effect for only two weeks before being discontinued due to widespread criticism from traders.

This article was written by Damian Chmiel at www.financemagnates.com.Retail FXRead More

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