Lark Funding announces it will once again start accepting US clients

Ali Raza
Last Updated:

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Lark Funding, a prop trading company based in Canada, recently announced that it will open its doors to US traders once again. The decision came after the company hit a brief pause in new US registrations. During this time, existing US customers were able to continue their trading activities with no disruptions, but new users could not register.

Now, however, the company intends to continue onboarding new US customers. Furthermore, it hinted at a future migration of its clients to DXTrade, although for the time being, it has not yet released the details of the transition.

Multiple firms discontinue services for prop firms’ US clients

Commenting on the company’s decisions, CEO Matt L said last week that he hopes to allow new US registrations in the future. At the time, he said that this awaits for new regulatory developments. He also pointed out that nothing will change for non-US clients.

Previously, Lark Funding also leveraged MT4 and 5 platforms in collaboration with EightCap, a major broker based in Australia. The company recently opted out of serving proprietary trading firms, starting on February 29.

Matt L commented on this as well, acknowledging the challenge posed by the withdrawal of EightCap. However, he also mentioned receiving positive assurance from ThinkMarkets regarding their operational continuity. The same goes for the strong ties with MetaQuotes.

Interestingly, ThinkMarkets then made the same decision as EightCap, choosing to discontinue services for prop firm clients in the United States. This move caught industry participants by surprise, causing them to seek out alternative solutions in a rush. In fact, this was a major industry shake-up that impacted a number of companies that relied on ThinkMarkets.

Some examples include Bespoke, Goat Funded Trader, Lark Funding, My Flash Funding, Skilled Funded Traders, The Funded Trader, AquaFunded, Forex Capital Funds, Instant Funding, Ment Funding, My Funded FX, Swift Funding, and Traddoo.

MyFundedFX switches to cTrader

During all of this, MyFundedFX also announced that it would switch to the cTrader platform, following the suspension of US traders’ sign-ups. The company said that it needs clarification on the matter in order to maintain certainty. Meanwhile, operations in all other jurisdictions continue as usual, without any disruptions.

MetaQuotes’ stricter enforcement actions have also had some broader implications. For example, services by several prop firms have since been suspended. Meanwhile, the trading community has reacted with confusion and concern, leading numerous discussions on social media platforms, primarily Reddit and X.

These discussions and debates show a clear sense of urgency to adapt to the new situation. Meanwhile, different sources are offering different timelines for compliance, so there is no consistency on the matter. Some have speculated that all brokers that violate jurisdictional regulations must rectify their status by the end of June.

About Ali Raza PRO INVESTOR

Ali is a professional journalist with experience in Web3 journalism and marketing. Ali holds a Master's degree in Finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of leading cryptocurrency publications including Capital.com, CryptoSlate, Securities.io, Invezz.com, Business2Community, BeinCrypto, and more.