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Broker Traders Trust Officially Launches New Prop Trading Brand: TradingCult

Source: Trading Cult Official Website

Traders Trust CEO Nicola Berardi dropped a bombshell today (Friday), officially unveiling their new prop trading platform, TradingCult.

Berardi took to LinkedIn to announce TradingCult's launch, saying: "After three months of grinding it out, our team has built a company founded on trust, innovation, and collaboration."

The Lowdown on Traders Trust and TradingCult

Berardi's wearing two hats here - he's not only the founder and CEO of the TradingCult prop trading platform but also keeping his 15-year gig as Traders Trust's CEO. Before this, he cut his teeth as CFO at both Saxo Bank and Synthesis Bank.

Apart from Berardi, TradingCult's LinkedIn page is pretty bare, listing just one other employee - a business development manager who's pulling double duty at Traders Trust.

While Berardi didn't explicitly link Traders Trust and TradingCult, it's pretty obvious these two brands are tight - they're even sharing office space in Cyprus.

More Brokers Jumping on the Prop Trading Bandwagon

Traders Trust diving into the prop trading game shows that brokers are getting more and more interested in this slice of the market.

In the past, many brokers have gradually joined the prop trading market, for example: OANDA, Axi, Hantec Markets and ThinkMarkets have already launched prop trading platforms, and many other companies are considering launching similar platforms.

Meanwhile, the regulators are starting to sit up and take notice. ESMA, the big dog of European regulators, has started poking around prop trading firms and is chatting about possible industry oversight.

On top of that, the Czech National Bank has piped up about prop trading firms for the first time, hinting that some of them "might fall under the MiFID regulatory framework." This is the first time we've heard regulators make noise like this.

Reference:Prop Trading: Traders Trust’s CEO Officially Launches New Platform