Prop Firm Fundedlions Claims to be "Attacked and Blackmailed" by Dominion Markets

Fundedlions, a proprietary trading firm, claims that it has been “once again attacked and blackmailed by our brokerage technology provider” and suspended operations while it plans to migrate to another trading platform.

According to the prop firm, its business partner, Dominion Markets, quadrupled the pricing of account creation and demanded unreasonable fees.

Fundedlions, while considering its partner's practices ‘unethical,’ has ‘been patient and paying for more than what was agreed in the contract.’

The proprietary firm said it had already paid the fee for active accounts, but Dominion Markets asked it to pay it again this week. Fundedlions blamed the broker for ‘crossing the line’ and made it difficult to continue operating on the platform.

Fundedlions has planned to migrate to MetaTrader 5 within seven business days (starting September 6) and is advising traders to pause trading for now.

Dominion Markets is a Forex and CFDs broker that offers the cTrader trading platform. Although the broker claims to have offices in Dubai and Cyprus, it is not regulated by the Dubai DFSA or the CySEC in Cyprus.