SSC Prop Firm Shutdown: What Traders Can Learn from Summit Strike Capital's Collapse

SSC Prop Firm Shuts Down After MT5 Ban

Malaysia-based proprietary trading firm Summit Strike Capital (SSC) abruptly ceased operations in April 2025 after MetaQuotes — the software provider behind MetaTrader 5 (MT5) — reportedly revoked their platform access.

The shutdown left many retail traders — particularly in Southeast Asia — unable to access their trading accounts.

Here's what happened — and what traders everywhere can learn from this case.

Who Was SSC?

SSC (Summit Strike Capital) operated from www.summitstrike.com (now offline), targeting traders mainly from Malaysia and Southeast Asia.

Their offerings included:

➤ Low challenge fees
➤ High profit splits
➤ Crypto-friendly payouts
➤ Fast scaling plans

The firm relied on MT5 access provided by Haven Capital Group. This partnership would later prove to be their downfall.

Timeline of Events

Additionally, on April 5th, 2025, SSC released an official statement via their Twitter account @SummitStrike confirming the closure of their operations due to MetaQuotes policy changes.

Official SSC Announcement

Here's how it unfolded:

March 2025: Reports of withdrawal delays began circulating.
Early April 2025: Complaints about rule changes, dashboard errors, and payout problems intensified.
April 7, 2025: Warnings appeared in Malaysian trading communities.
April 10, 2025: Trustpilot flooded with negative reviews.
April 12, 2025: SSC's website went offline.
April 13, 2025: MT5 accounts forcibly terminated overnight.

Why Did SSC Shut Down?

According to SSC's CEO, MetaQuotes banned SSC's access to MT5 due to the firm operating under a "Grey Label" license provided by Haven Capital Group — a practice increasingly scrutinized by MetaQuotes.

The CEO promised refunds for:

➤ Active funded accounts
➤ Challenge accounts in progress
➤ Remaining equity balances

However, at the time of writing, many traders have yet to receive refunds.

Industry speculation points to:

➤ Unsustainable business model
➤ Unclear licensing structure
➤ Cashflow problems
➤ MetaQuotes enforcement of platform policies

Lessons for Traders

The SSC case highlights why due diligence is critical before joining any prop firm.

Warning Signs to Watch:

➤ Unrealistic promises
➤ Lack of transparency
➤ Frequent rule changes
➤ Delayed or refused payouts
➤ No clear regulatory structure

What To Do If You Were Affected

If you were an SSC client:

➤ Contact your bank or payment provider to request a chargeback.
➤ Reach out to SSC via any official channels left open.
➤ Connect with other affected traders for updates.
➤ Avoid emotional trading decisions — stay calm.

How To Choose a Safer Prop Firm

Before signing up, ask:

➤ Who owns the firm?
➤ Is their MT5 or MT4 license legit?
➤ Are payouts consistent & verified?
➤ Transparent terms & conditions?
➤ Real reviews from real traders?

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