In perhaps the largest news in the prop firm space since the My Forex Funds lawsuit, FTMO has announce it will no longer service US based customers. This really comes as no surprise given forex is essentially trading CFD’s. Given that FTMO is the largest forex firm in the industry, time will tell if the other providers follow suit. There is simply no better time to trader Futures!
Statement from FTMO below:
USA update – January 2024:
Since the establishment of our company, our goal has been to provide top-quality services for our clients. Unfortunately, at present, we are not able to do that in the United States due to specific conditions in the market segment there. Therefore, we have decided to suspend the purchase of the FTMO Challenge for our new and existing US clients (nationals), just as we put a hold on onboarding new US clients. At the same time, we are looking for ways to make FTMO available again to all those interested in trading in the USA. Our existing clients can continue to use the services as normal. Nothing changes for clients, partners and those interested in our services in other markets, as the problem only concerns the specifics of our operations in the US market. Our goal remains that FTMO brings value to everyone interested in trading, taking them at least a step further.
Please note that FTMO does not provide services to persons in/from Iran, Syria, Myanmar and North Korea, persons listed on sanction lists, persons with criminal records related to financial crime or terrorism, and persons previously banned because of breach of contract. In the case of the United States of America, FTMO does not accept clients in Louisiana, South Carolina, Montana, Arkansas, and Delaware. FTMO also does not accept clients – legal persons, who are company trusts.
Due to regulatory developments and business decisions based on risk management considerations, FTMO does not accept clients in India, the Russian Federation, the Republic of Belarus, the Republic of Indonesia, Cuba, Venezuela, Sudan, and South Sudan.