Blue Guardian has joined the list of companies that have restricted the registration of new accounts for US clients.
The company announced this on its X (Twitter) page.
Loading...
Blue Guardian emphasized that the restrictions will affect not only US residents but also people with dual citizenship living in the US. Meanwhile, clients outside the US will continue to trade without any restrictions.
The Blue Guardian did not specify the reason for this decision, but many financial experts pointed to the connection with the recent events surrounding MetaQuotes, the developer and provider of the popular MetaTrader 4 and MetaTrader 5 trading platforms.
MetaQuotes has implemented a strict policy against proprietary trading companies in the USA in order to comply with the country's requirements. This is primarily due to the fact that offering CFDs is prohibited in the US, and financial regulators strictly control leveraged trading services for retail traders. However, proprietary firms do not technically fall under these regulations, as traders trade with the firm's funds.
In addition, MetaQuotes does not charge a fee for the use of its demo services, which is how proprietary trading firms typically operate. This allows them to assess the risks and safely copy the trade to a live server. The profit is then shared between the company and the trader and does not include MetaQuotes' fee.
Currently, a number of companies, such as FTMO, The5ers, Alpha Capital Group, MyFundedFX, and Audacity Capital, have introduced restrictions for clients in the US.
Meanwhile, Funding Pips has announced the launch of Match-Trader, cTrader, and DXtrade platforms to replace MT4 and MT5. Blue Guardian is also actively working to add a DX Trade platform to support US clients.
"We recognize the complexity of this situation and are actively working to provide additional solutions for our valued US traders," Blue Guardian said in a statement.
Also Read: Hong Kong's new crypto reglation regime attracts brokers