NEWS
Prop trading company Equity Edge, based in the UK, encountered a setback as it lost access to the MetaTrader 5 trading platform on Monday, which it had been utilizing through a brokerage collaboration. Consequently, trading operations for the prop trading firm came to a halt.
“Our broker has been facing issues with Platform MT5, which has caused all accounts to be invalid,” stated an announcement by the prop trading firm across its social media platforms.
However, specifics regarding the brokerage partner or the precise cause behind the sudden problem were not disclosed by the prop trading firm.
The interruption in services occurred yesterday morning (UK time), as indicated by the prop firm, which reported “complications with the broker server within our platform, and all trading has been stopped.” The CEO of the platform, known as Berkay, also shared a video message to reassure traders, expressing apologies for the inconvenience.
Following the disruption, the prop trading firm confirmed its transition to the Match-Trade trading platform and announced the migration of its existing customers from MT5 to the new platform.
“We are pleased to inform you that we have onboarded with Match-Trade, and all accounts will be merged to Match-Trade on Wednesday. We will be fully up and running on Wednesday, with all balances accurately transferred to Match-Trade,” the prop trading firm stated.
Equity Edge isn’t the only broker in the prop trading space to face major platform disruptions. Match-Trade Technologies recently terminated the license of SurgeTrader for unknown reasons, leading to the complete shutdown of the prop trading firm just day’s later.
