Private trading firm Alpha Capital Group plans to return to the United States after suspending purchases for clients in the region in February. In a post on X, the company said it plans to launch a futures and regulated deposit brokerage platform in Seychelles in June.
“June will be a key month for us as a group welcoming back the US as well as the launch of Alpha Futures and our Seychelles regulated deposit broker along with an exciting new affiliation with a well-known trading podcast. On top of that, we are also the biggest event we have ever done for 200,” the company stated. One at Park Plaza in London which was hosted by some of the industry's leading figures.
Purchases reopen for customers in the United States
Alpha Capital is among the proprietary trading firms that suspended purchases for US clients following a regulatory crackdown in the industry at the beginning of the year. In a statement, the company described this step as a response to the development of the market in the United States. The company has suspended services to new and existing customers, while operations in other jurisdictions are not affected.
Just a final signature from me before I go and enjoy some family time. It's an amazing month for us as a company and we couldn't do it without all of you, so I want you to know that we appreciate every one of you. June will be a key month for us as a group welcoming guests.
— Alpha Capital Group (@AlphaCapitalUK) May 31, 2024
Amid the suspension, Alpha stated that it is actively seeking legal clarifications to ensure compliance and plans to resume services to US customers once it has the necessary assurances. The company affirmed its commitment to its customers and its continued efforts to collect evidence to support the reopening of services in the United States in the future.
Early this year, MetaQuotes reportedly tightened its regulatory standards for proprietary trading platforms. This shift became evident when the platform forced Blackbull Markets to suddenly stop providing services to funding points. This action signaled efforts toward compliance, particularly with respect to customers in the United States.
Since our launch, it has been our unwavering commitment to build a platform and environment to not only keep our business running but also a place our customers can rely on. Due to recent market developments in the US, we have made the decision to suspend…
— Alpha Capital Group (@AlphaCapitalUK) February 19, 2024
Navigating regulatory pressure
The US regulatory environment continues to present unique challenges for leveraged trading services and CFD offerings. Owned businesses that operate outside traditional regulatory frameworks face increasing scrutiny.
Notably, as MetaQuotes imposes stricter compliance measures, trading technology competitors have seized the opportunity to fill the gap. Companies like Devexperts have provided custom trading platforms for private trading services.
This article was written by Jared Kirroy at www.financemagnates.com.