SurgeTrader has announced that Match Trade Technologies has revoked its license to provide the trading platform for SurgeTrader, LLC. This unexpected decision has led to significant disruptions for SurgeTrader and its global trading community.
Unwarranted License Revocation
According to SurgeTrader, Match Trade Technologies has terminated the license agreement without any legal basis. SurgeTrader asserts that they are fully compliant with all contractual obligations and prepay for services as required. SurgeTrader believes that external influence from a prominent industry player may have prompted Match-Trader’s decision. SurgeTrader previously terminated its contract with FPFX, and FPFX has since partnered with Match-Trader, potentially influencing this action.
Legal Response and Ongoing Dispute
SurgeTrader has fully cooperated with Match-Trader’s legal team and has attempted to address any concerns raised. Despite these efforts, Match-Trader has proceeded with the termination. SurgeTrader is currently exploring legal options to contest this termination and seek a resolution.
Impact on Services
Due to the license revocation, SurgeTrader has suspended the sale of new auditions. The company is working diligently to resolve the dispute or secure an alternative trading platform for migrating existing accounts.
Statement from SurgeTrader
SurgeTrader selected Match-Trader as a respected trading platform and expected them to act in good faith, prioritizing the interests of traders. The company apologizes for the disruption caused and assures the trading community that efforts are underway to remedy the situation.
Traders are encouraged to stay informed about further developments as SurgeTrader navigates this challenging period.
