Prop firms that shut down.

Voluntary wind-down

FORFX ceased all operations effective June 2026, announcing the closure itself on its own website rather than going quiet. In its notice the firm said it had refunded every active challenge fee, paid out all outstanding profits and pending withdrawals from funded accounts, and closed with what it described as zero outstanding obligations. It also said it kept customer support running for a month after operations ended to help traders through the transition. These are the firm's own statements: no regulator, trade publication or independent audit has corroborated them, and no trader complaints contradicting them surfaced either.

Per the firm's own closure notice, all active challenge fees were refunded in full and all funded-account profits and pending withdrawals were paid before operations ended, with one month of post-closure support. Not independently verified.

Operations paused

ATFunded was the prop trading arm of CFD broker ATFX, launched in late 2024. In early June 2026 the firm announced it was pausing operations while it conducted a full review of the business, saying the prop trading industry had evolved considerably and that it wanted to assess whether its current model was sustainable long term. Its MT5 environment was set to close-only and traders were told to close all positions the same day. The firm said all customers with active accounts would receive a full refund of their purchase and that all funded traders with eligible profits would be paid in accordance with its rules. ATFunded has described this as a pause rather than a permanent closure and has not announced that it is closing for good; as of mid-July 2026 its site still carried the pause notice and operations had not resumed.

The firm committed to refunding purchase fees in full for all active accounts and paying funded traders with eligible profits under its existing rules. Reporting noted that CEO Josh Dentrinos had left earlier in 2026 and that his successor as General Manager, Connor Mccourt, had also departed. Note: ATFX itself, the broker, continues to operate — only the prop unit stopped.

Acquired by Topstep

The Futures Desk (TFD), a futures prop firm built around hands-on coaching rather than competing on cheap evaluations, was acquired by Topstep in a deal announced on 1 April 2026. Topstep said it was integrating TFD's technology into its TopstepX platform, and TFD co-founders Josh Schwartzberg and Brian Ford joined Topstep as part of the acquisition. This was a planned consolidation rather than a collapse — the firm's tooling and team moved into a larger operator.

TFD's platform technology was folded into TopstepX and its founders joined Topstep. No trader losses were reported in connection with the deal.

Program discontinued

OANDA launched its Prop Trader program before FTMO acquired OANDA in 2025. As the group separated its business lines — OANDA on brokerage, FTMO on its own prop model — the program was formally concluded on 31 March 2026. OANDA and FTMO contacted participating traders directly, offering migration onto FTMO's prop platform, with refunds where applicable for those who did not move. It was an orderly, pre-announced wind-down rather than a collapse.

Traders were offered migration to FTMO's platform; non-migrating traders received refunds where applicable, with no reports of traders losing paid balances.

Pivot to CFD brokerage

One of the larger CFD prop names of its era, MyFundedFX rebranded to SeacrestFunded in 2025 to align with the broker-licensed Seacrest Markets, then closed its entire prop-trading division on 6 February 2026 to focus fully on CFD brokerage. The firm offered refunds on unbreached challenge accounts and final payouts to funded traders through a 28 February 2026 deadline, and many were processed within days — but a number of traders reported friction: crypto-only refunds on card deposits, being redirected between departments, and some payout rejections citing rule violations after earlier successful withdrawals.

All prop accounts and open positions closed on 6 Feb 2026; refunds and final payouts via official form by 28 Feb 2026, processed first-come first-served within 30 days.

Went offline

Around mid-February 2026 Nova Funding's website went offline and the firm appeared to stop operating, without publishing an official closure statement. Over the same period traders posted a large volume of one-star reviews alleging that payout requests went unpaid, accounts were blocked, and support stopped responding. With no formal announcement, its status is best described as having apparently ceased operating.

Traders reported pending withdrawals left unpaid — some described as outstanding for months — alongside a surge of one-star reviews during the shutdown window.

Rule-change backlash

In December 2025 FundingTicks introduced sharply stricter rules — a one-minute holding limit aimed at scalpers, higher profit targets and a lower profit split — and applied them retroactively, invalidating profits and evaluation progress traders had already earned. After heavy community backlash and a fast-falling Trustpilot score, the firm announced in mid-January 2026 that it would cease operations.

Per the firm's own wind-down announcement, refunds and reward splits were applied across the board: full refunds on all active evaluation and master accounts regardless of profit or drawdown status; an 80% reward split for master accounts that hit the profit target and met the objectives, 20% for those in profit but short of the objectives. Live accounts were handled by state — in profit: refund plus a 90% split on realized profit and 20% of the initial live balance; at initial balance: refund plus 20% of the initial balance; in loss: refund only. The firm framed it as a strategic wind-down and said support would remain until 31 January 2026.

Insolvency

XpertFunding announced it was permanently closing in early 2026, after roughly 14 months of operation. In its statement, relayed by industry review sites, the firm attributed the closure to a cyberattack in early December that disrupted its systems, a loss of advertising channels, internal team problems, and resulting insolvency. It said around 95% of pending payouts had been completed, with the remaining share under individual review during the bankruptcy process.

Per the firm's own statement, roughly 95% of pending withdrawals were paid, with the remaining ~5% said to be under review at closure.

Unsustainable competition

Propel Capital, a UK-registered prop firm founded by Mitchell Ali, shut down on 19 August 2025, about 14 months after launch. Ali said fierce competition had forced the firm to sell challenges at a loss and that scaling further was unsustainable, and he issued a public closure statement rather than disappearing quietly. UK Companies House filings cited in reporting showed a fragile position — just over £3,000 in assets against more than £150,000 in liabilities.

The firm said it would refund qualifying traders and was exploring a possible sale; trading and payments halted immediately. Given the reported liabilities-to-assets gap, full refund fulfilment was not independently confirmed.

Strategic wind-down

Announced an orderly shutdown rather than an overnight disappearance: the firm stopped selling evaluations, kept systems running for existing traders and honored payouts through late December 2024. One of the few closures in this list handled cleanly.

Acquisition

Shut down as an independent brand during 2024's consolidation wave and was absorbed by TradingFunds.

Insolvency & disputes

Collapsed mid-2024 amid bankruptcy proceedings and public disputes involving its technology provider, leaving traders with unresolved balances.

Payout disputes

Shut down during 2024 amid unresolved payout complaints, one of dozens of smaller brands that disappeared in the industry's consolidation year.

Under-capitalized

Closed after roughly one week of operation — insufficient sales and no reserves. The fastest collapse on this list.

Liquidity crisis

Closed roughly two months after launch when it couldn't cover its obligations — a textbook example of an under-capitalized firm selling challenges before it could afford the payouts.

Broker withdrawal

Another casualty of Eightcap's withdrawal from prop-firm services — the platform migration failed and the firm closed.

Broker withdrawal

Unable to migrate platforms after Eightcap pulled its prop-firm services, the firm shut down with payouts still owed.

Platform loss & insolvency

One of the better-known CFD firms of its generation, True Forex Funds lost its MetaQuotes licensing in the February 2024 crackdown and never recovered, ceasing operations on May 13, 2024. It had appeared on the CFTC's RED list in June 2023.

Roughly 300 traders were left with about $1.2M in unpaid balances.

Platform licensing

Closed abruptly in late May 2024 after losing access to its trading platforms amid the MetaQuotes crackdown and a licensing dispute, with payouts still owed to traders.

Payout crisis

One of the biggest names in the industry paused all operations on March 28, 2024 after weeks of mass payout denials. The trigger: broker Eightcap withdrew prop-firm services and the MetaTrader migration created a payout backlog the firm couldn't clear. It later relaunched from the Cayman Islands, but never returned to its former scale and many earlier payout claims remained unresolved.

Over $2M in payouts denied in January–February 2024 alone.

Parent company shutdown

Went down in the same March 2024 storm as The Funded Trader when parent company Easton Consulting ceased operations.

Regulatory warning & payout failures

In October 2023 the UK's FCA publicly warned that Bespoke Funding Program Ltd might be providing or promoting financial services without authorisation, and urged people to avoid it. In April 2024 the firm was delisted from Prop Firm Match after multiple reports of delayed and denied payouts and widespread trader dissatisfaction. The brand was reported to have been folded or rebranded over 2024–2025, though the exact closure date is not firmly established.

Traders reported delayed and denied withdrawals; specific unpaid totals were not documented.

Abrupt closure

The prop-trading arm went dark abruptly in late 2023, leaving funded and evaluation traders without access and with little clear communication about their accounts or balances — an early example of the sudden-disappearance pattern that would define the 2024 wave.

CFTC action

The event that shook the industry: the CFTC filed a fraud complaint against My Forex Funds in August 2023, alleging around $310M taken from 135,000+ customers, and the firm's operations were frozen overnight. Notably, the case was dismissed in May 2025 after the court found procedural misconduct by the CFTC itself — but by then the firm was long gone and customer funds had been locked up for years. It never resumed retail operations.

135,000+ customers affected; funds frozen from 2023 into the dismissal in 2025.

Regulatory warning & lost liquidity provider

BluFX, a long-running subscription-based forex funding firm, unravelled after the UK's FCA warned in December 2022 that it might be providing financial services without authorisation. The warning contributed to BluFX losing its liquidity provider, which left traders unable to trade for around three weeks. After briefly resuming with a new provider, BluFX closed its trading accounts around March 2023, unable to sustain operations. The firm said it intended to honour outstanding obligations, though fulfilment was not independently documented.

BluFX had reportedly run for over a decade with 20,000+ accounts before the collapse; it pledged to meet outstanding trader obligations, but payout completion is unconfirmed.

Regulator investigation

Funding Talent, an early forex funding firm, was placed under investigation by the Nova Scotia Securities Commission in March 2021 over alleged unregistered trading activity. That autumn it abruptly overhauled its business — cancelling Challenge accounts, cutting profit splits from 80% to 25%, and pushing traders into a short-lived "Edge" program with narrow windows to request final payouts. The Edge program collapsed quickly and the firm ceased operating by November 2021, in a disorderly wind-down.

Traders were given as little as 48 hours on some tiers to request payouts, with refunds limited to active, recently-traded accounts.