MetaQuotes appears to have removed Eightcap’s listing from its mobile apps in both MT4 and MT5.
This may be because Eightcap has long been one of the brokers that prop trading firms partner with to offer their services.
The set up works a bit like a white label, with traders signing up with a prop firm and then opening a demo account with Eightcap. The model typically means Eightcap receive a fee per demo account that signs up via the prop.
This model appears to have been a bugbear for MetaQuotes for some time. This is because they have not historically charged fees for demo accounts, meaning they make no money from prop activity.
However, as props are unregulated, there is potential for them to face any downside that this activity results in.
Various props have now issued statements announcing a halt to activity. One prop – Funds For Traders – has also said it will now cease operations.
