Prop firm Instant Funding announced plans to launch its cryptocurrency platform, IF Crypto, next month while also revealing "IF Pro" as the name of its forthcoming brokerage service. It thus joins the group of challenge-based retail trading companies that have recently obtained licenses to operate contracts-for-difference (CFD) businesses in the rather exotic location of Saint Lucia.

Instant Funding to Launch Crypto Platform in May

The company is currently building anticipation for its May crypto launch by offering early access sign-ups that will provide users with product development updates and priority access when the platform goes live.

"Our crypto-first platform is coming this May, and our community is already showing strong interest," the company stated in a social media announcement. The firm is encouraging current followers to share the early access opportunity with potential users interested in cryptocurrency services.

Cryptocurrencies aren't particularly popular in the prop trading space, but a few have entered the scene recently. Late last year, Hydra Funding expanded its offering to include Bitcoin and other digital assets. Earlier this year, Klein Funding followed suit by partnering with Bybit, the world’s third-largest exchange by trading volume.

For Instant Funding, however, this isn’t the only development. Even more significant is the announcement of its own brokerage launch, IF Pro.

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CFD Brokerage Registered in St. Lucia

Instant Funding appears to be developing two distinct financial service offerings. The cryptocurrency-focused IF Crypto platform is scheduled for a May debut, while the company's brokerage service, branded as IF Pro, was announced separately last week.

"In the coming weeks, we'll reveal more details about IF Pro's features, capabilities, and launch date," the company noted in its broker announcement on April 17.

The website footer of the prop trading firm now includes a note that IF Pro Ltd is a company registered and licensed in St. Lucia. This location has become increasingly popular among prop trading firms, enjoying similar appeal to even more exotic jurisdictions like the Island of Comoros.

Why the move to launch their own brokers? Primarily, it’s about regulatory compliance and the ability to offer MetaTrader 4 and 5 platforms to clients. Instant Funding had already announced its return to MetaTrader at the end of February, after securing its own “main label” license. This suggests the brokerage authorization was likely obtained earlier, but the firm is only now officially confirming that it is developing the IF Pro brand.

Details about the entity remain limited, making it difficult to determine whether it will operate as an independent FX/CFD brokerage for retail clients or solely serve as a licensed provider for prop trading firms.

Source: Finance Magnates