Platforms
Why Are Prop Firms Banning US Traders?
Why many CFD prop firms stopped serving US traders: MetaQuotes in 2024, cTrader in 2026, legal caution after the CFTC case, and what it means for founders.
- By PipValley Editorial
- Published
- 4 min read
For a founder, the US question is both a revenue decision and a platform decision. Before MetaQuotes' action, nearly 30% of traffic to the top prop firms came from American traders, according to Finance Magnates. Losing them overnight is what pushed many CFD firms to close or rebuild.
What happened, and when?
- August 2023: the CFTC froze MyForexFunds, making US exposure a visible legal risk.
- February 2024: MetaQuotes moved against prop firms using MetaTrader with US clients; True Forex Funds said its licence was terminated, and firms moved to cTrader, Match-Trader, DXtrade and TradeLocker.
- 2024: Finance Magnates estimated 80 to 100 prop firms shut down, many after the platform withdrawal.
- August 2025: FTMO returned to the US with MT5 through OANDA, and The5ers through cTrader, per Finance Magnates.
- July 1, 2026: Spotware stopped onboarding US traders to cTrader through prop firms "following an internal regulatory assessment"; firms moved them to Match-Trader, TradeLocker and Volumetrica.
Why don't futures firms ban the US?
Futures prop grew up in the US. Topstep, Apex and similar firms trade exchange-listed contracts on platforms built for US futures, and Finance Magnates now describes the industry as roughly evenly split between CFD and futures firms, partly because futures firms kept serving Americans. Futures has its own platform risk: ProjectX became Topstep-only after February 28, 2026.
What should a new firm decide?
Decide your US position before you choose a platform, not after. If US traders matter, futures or a platform that still serves them is the realistic route, with US legal advice on structure and disclosures. If they don't, exclude them at launch, enforce it at checkout and KYC, and publish the restricted-countries list on your site. Either way, plan a second platform within your first year.
Questions
Which prop firms accept US traders?
Mostly futures firms, plus CFD firms with regulated routes such as FTMO's through OANDA. Lists change often; PropFirmPal (a comparison site we own) tracks restricted countries by firm.
Can a new CFD prop firm accept US traders?
It is harder than before: cTrader closed new US prop onboarding on July 1, 2026, and MT5 access has been unreliable since 2024. Get US legal advice and check each platform's current terms.
Will US traders be banned from futures prop firms?
There is no sign of that as of October 2026. Large US futures firms are moving toward registration, such as Topstep's introducing broker, rather than leaving the market.
How do I block US traders on my prop firm?
Publish a restricted-countries list, block those countries at checkout, and enforce it again at KYC before any payout. Keep the list as data so the website, checkout and terms always match.
Sources
- Finance Magnates: Prop trading is finding its way back to the US, but can it beat futures dominance?
- Finance Magnates: Prop trading firms' renaissance: cutting US clients, integrating new trading platforms
- FX News Group: Funding Pips adding Match-Trader, cTrader, DXtrade platforms to replace MT4/MT5
- Finance Magnates: 80–100 prop firms wiped out in 2024's industry collapse
- Finance Magnates: cTrader restricts US prop firm access following internal regulatory assessment
- Finance Magnates: ProjectX to end its third-party service offering (Nov 17, 2025)
- TradeInformer: Topstep launches introducing broker through Plus500 partnership
Illustrative figures, not a forecast. Nothing on this site is legal, tax or financial advice. PipValley is a web design studio; we don’t sell challenges, run trading accounts or provide trading platforms. Spotted something out of date? Tell us and we’ll fix it with the date.
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