Prop Trading Firm Instant Funding Edges Closer to Completing DXtrade Migration

The proprietary trading platform Instant Funding has shifted its attention to DXtrade a few weeks after discontinuing its services to US traders. The company provided an update via Twitter, outlining the progress and upcoming milestones in the process for DXtrade migration.After ceasing operations for US traders, Instant Funding has been preparing to introduce DXtrade, its latest trading platform. Despite encountering regulatory challenges, the company maintains that it is committed to providing seamless trading experiences for its users.Instant Funding Expedites Migration to DXtradeInstant Funding mentioned: "Right now, we’re testing trading across all instruments to be 100% confident in how trades are executed for you when we go live. We expect the technical part of DXtrade integration to be completed today."Hey team,We want to give you a quick update on the DXtrade migration.As of today, March 6, we’ve completed the DXtrade platform setup, connected the liquidity provider, and have added new staff members and consultants to the team to help ensure the smoothest transition… pic.twitter.com/PU0EqXQz9B— Instant Funding (@InstantFunding_) March 6, 2024According to the announcement, Instant Funding disclosed that it has completed setting up the new platform, integrating liquidity providers, and bolstering the team with new staff and consultants. According to the firm, these efforts aim to ensure a smooth transition for traders.Instant Funding emphasized the importance of testing the new platform to ensure optimal trading conditions on the DXtrade platform. Currently, the company is reportedly testing trading across all instruments to guarantee the reliability and efficiency of trade executions.Instant Funding anticipates finalizing the complete migration early next week, slightly later than the initial projection. The company has assured traders of its dedication to expediting the process while prioritizing the quality and reliability of the platform.ThinkMarkets' Decision and ImplicationsLast month, Instant Funding discontinued its services to the US traders following a decision by ThinkMarkets to end services for proprietary trading firms in the region.Hey team,We want to inform our American clients of an important change in our trading platform due to a recent decision by our partner broker, ThinkMarkets.As of the end of the trading session on Friday, February 23, ThinkMarkets will cease to provide services to prop firms’… pic.twitter.com/51KwgYYjnk— Instant Funding (@InstantFunding_) February 20, 2024Instant Funding's move followed a series of restrictions on services to US clients among proprietary trading firms, Finance Magnates reported. Purple Trading and Blackbull ceased offerings to proprietary trading firms.ThinkMarkets' decision to discontinue services to US clients reflects a broader shift in the proprietary trading industry. While it continues operations outside the US, the move raised speculation about MetaQuotes' involvement. Thus, Instant Funding promised US traders that it would introduce DXtrade as an alternative trading platform. This platform aims to cater to US traders and provide an alternative to global users. Despite anticipated challenges during the transition period, Instant Funding assured existing US traders that they would retain their accounts. This article was written by Jared Kirui at www.financemagnates.com.