SeacrestFunded: Prop Firm MyFundedFX Rebrands to Align with New Brokerage Division
MyFundedFX, a prominent name in proprietary trading, has rebranded to SeacrestFunded. This strategic move aligns the prop platform with Seacrest Markets, a newly launched forex and contracts for difference (CFD) brokerage. Despite this change, MyFundedFX’s futures prop division, MyFuturesFX, will retain its original branding for the time being.
A Broker-Backed Prop Model to Build Trust
The rebranding signals a clear push by SeacrestFunded to emphasize its identity as a broker-backed prop trading platform. Industry surveys indicate that broker-backed platforms enjoy increased trust among traders. A recent study by PipFarm revealed that 60% of traders favor such platforms, believing them to be more reliable and transparent.
The broader prop trading industry has seen notable changes recently, with major brokers entering the sector. Established players like OANDA, Axi, IC Markets, and ThinkMarkets have integrated prop trading services into their offerings. In contrast, mid- and small-sized brokers have quickly followed suit, recognizing the growing demand for funded account opportunities.
A Shifting Landscape: Props Entering the Brokerage Industry
In an interesting twist, prop firms are also entering the traditional brokerage industry. FTMO made headlines by acquiring OANDA, highlighting the expansion and financial strength of leading prop firms.
Meanwhile, Seacrest Markets, which operates under a license from South Africa’s Financial Sector Conduct Authority (FSCA), remains a new player in the brokerage space. To attract clients, the platform offers demo accounts to allow potential traders to test its services.
SeacrestFunded recently enhanced its operations by migrating non-U.S. traders to the MetaTrader 5 (MT5) platform through Seacrest Markets. This demonstrates how a brokerage license can streamline operations for prop trading platforms, offering greater flexibility and regulatory support.
The rebranding marks a new chapter for SeacrestFunded as it aims to strengthen its position in the ever-evolving prop trading landscape.
