Prop Firm Updates - August 22, 2024

Author

Prop Trader Edge
August 21, 2024

â›” PROP FIRMS LOOKING TO SELL

Astra Capital's announcement of plans to acquire other prop firms last week sparked the creation of a competitive marketplace where prop firms can now set their own price. Since MetaQuotes pulled the plug, prop firms have faced increasing challenges, including the need to invest in new technology. As competition intensifies, firms are slashing prices and offering more lenient rules to attract customers—a win for traders but a strain on profitability. This tough environment is likely prompting more firms to quietly or openly explore selling opportunities.

â›” INDIGO TRADER FUNDING SHUTS DOWN

“It is with regret that we hold our hands up and admit that we failed in this business endeavour. A combination of a naive marketing strategy, high competition and a rapidly increasing failure rate of firms contributing to potential sales consolidating around the market leaders has meant that our

continued growth as a promoter and referrer could not be sustained.”

🙌 KARMA IN TALKS TO BE ACQUIRED