Two major prop firms have recently re-entered the United States – FTMO and The5ers. What makes FTMO’s offering noteworthy is that it is available on the MetaTrader 5 platform, making it the only prop to offer MT5 in the US. The5ers, meanwhile, like many other props, is using cTrader.Two Giants Re-Enter the USBoth FTMO and The5ers suspended services to US-based traders in early 2024 and relaunched them in recent days. This raises the question: is the US that important for prop firms?Before suspending services, The5ers generated 15 to 20 per cent of its traffic from the US. Now, the Israeli company expects the country to become one of its top two markets.Read more: “We Don’t Sell Dreams. We Don’t Drive Lamborghinis”FTMO and The5ers are not the only prop firms to resume services in the US. FundedNext, Funding Pips, Bespoke Funding Program, Blue Guardian, and MyFundedFX (now Seacrest Funded) are among several others that were forced to suspend but later returned.Some brands re-entered within weeks, while others took more than a year.The US has always been a crucial market for prop trading firms. According to data compiled by FYI, about 40 per cent of organic traffic for 50 prop trading firms comes from the US, while another 40 per cent comes from India. This highlights the importance of the US for the industry.The US Prop Trading CrackdownProp firms were thriving in the US until the Commodity Futures Trading Commission (CFTC) sued My Forex Funds, forcing it to shut down. The action sent shockwaves through the industry and compelled firms to adopt terms such as “simulated trading” and “virtual funds” on their websites.Related: In a Blow to the CFTC, US Court Throws Out My Forex Funds LawsuitFTMO’s US-specific website, a joint domain with OANDA, also uses phrases such as “demo trading”, “simulated platform”, and “rewards”.The prop industry then suffered another blow in early 2024 when MetaQuotes cracked down on firms offering grey labels of its platforms to US-based traders. This move halted the operations of many props overnight and forced them to seek alternatives.Most firms relaunched within weeks or months on platforms such as DxTrade, Match-Trader, and cTrader, but they lost the convenience of MetaTrader.Some props attempted to regain MetaTrader access by registering themselves as brokers in offshore jurisdictions like Comoros and St. Lucia. However, none currently offer MetaTrader in the US, most likely due to MetaQuotes’ restrictions.MT5 on FTMOAlthough FTMO has not specified how it is offering MetaTrader 5 to US traders, it launched its services in partnership with OANDA, a forex and contracts for differences (CFDs) broker. OANDA is among the few forex brokers regulated in the US.Interestingly, Czech Republic-based FTMO agreed to acquire OANDA from CVC last February. The deal, however, has yet to close as it “remains subject to regulatory approval.”FTMO clarified that its partnership with OANDA for the US prop trading relaunch is separate from its acquisition deal.The footer of the US-specific website states that the US-registered FTMO entity is “responsible for the provision of the Evaluation Process (FTMO Challenge and Verification),” while OANDA Corporation is “responsible for the provision of the FTMO Rewards Account (Signal Provider Program)”.“While certain infrastructure on which FTMO US services are offered is provided by OANDA Corporation,” the website footer added.This article was written by Arnab Shome at www.financemagnates.com.