TradeInformer has learned that brokerage group ThinkMarkets is a launching a funded trader programme or prop firm.

The Chicago-based group previously acted as a gray label provider to other prop trading companies, but cut off that business in response to demands from MetaQuotes.

Several brokers have now launched a funded trader offering, including IC Markets, Axi, and Hantec Markets. We have also seen one prop firm – FTMO – attempt to move into the brokerage space.

Props work by offering clients the ability to take challenges. If they pass, then they are given a larger account to trade with, which they use to share profits with the provider.