Prop Firm Industry Report: Shutdowns, Rebrands, and 8 New Firms in Early 2026

The proprietary trading firm industry is evolving faster than ever. In the first quarter of 2026, we've seen major firms shut down, others rebrand entirely, and a wave of new entrants pushing the boundaries on profit splits, payout speed, and trader-friendly terms.

At PropFirmMap, we track over 50 prop firms in real time. Here's everything that changed in early 2026 — and what it means for traders looking for funded accounts.

Firm Shutdowns: MyFundedFX and SurgeTrader Are Gone

Two firms that were once popular choices for retail traders have officially exited the market.

MyFundedFX — Acquired and Shut Down (February 2026)

MyFundedFX, which offered an 80% profit split and flexible payout timing, was acquired by Seacrest Markets. Following the acquisition, proprietary trading operations were discontinued entirely. The website now redirects away from prop trading services.

This is a cautionary reminder for traders: always diversify across multiple funded accounts. Firm-level risk — the possibility that a prop firm itself fails or exits — is a real concern, and one that traders often overlook when evaluating challenge costs and profit splits.

SurgeTrader — Domain for Sale Since May 2024

SurgeTrader, which shut down in May 2024, has now had its domain listed for sale on Afternic for nearly two years. Any remaining references to SurgeTrader on comparison sites or social media should be treated as outdated information. If you see SurgeTrader recommended anywhere, that source hasn't been updated recently.

OANDA Prop Trader — Removed as Duplicate

We also removed OANDA Prop Trader from our database after confirming it redirected to FTMO's infrastructure. This wasn't a shutdown per se, but rather a white-label arrangement that created duplicate listings across comparison platforms. Traders searching for OANDA's prop program should evaluate FTMO directly.

Major Rebrand: The Funded Trader Becomes The Funding Kingdom

In one of the biggest rebrand moves of 2026, The Funded Trader has relaunched as The Funding Kingdom with a completely new website at thefundedtraderprogram.com.

Key changes with the rebrand:

• Profit split increased to 95% — up from its previous structure, now among the most competitive in the forex prop firm space
• New challenge types — the firm introduced Knight, Knight Pro, Classic, Dragon, and Royal challenge tiers
• Hong Kong base — the firm's operational presence has shifted to Hong Kong

The rebrand appears designed to distance the firm from past controversies and signal a fresh start. For traders, the improved 95% profit split is genuinely competitive, but as with any rebranded firm, we recommend monitoring community feedback for the first few months before committing significant capital to challenges.

Eight New Firms Enter the Market

The prop firm industry continues to attract new entrants. In early 2026, we added eight new firms to PropFirmMap, each bringing something different to the table.

Firms Offering Daily Payouts

Three of the new additions emphasize daily or near-daily payout frequency — a trend that's reshaping trader expectations:

• Tradeify (tradeify.co) — 90% profit split with daily payouts and an end-of-day drawdown model. One of the simplest payout structures we've seen.
• WeMasterTrade (wemastertrade.com) — 90% profit split, daily payouts, 5% daily drawdown limit. Straightforward terms aimed at active traders.
• FundYourFX (fundyourfx.io) — 80-95% tiered profit split with daily, weekly, or bi-weekly payout options. Flexible structure that lets traders choose their payout cadence.

Standout New Entrants

• Atlas Funded (atlasfunded.com) — The headline feature: 100% profit split with on-demand payouts. Atlas Funded is one of only a handful of firms offering traders the full profit on their trades. Currently running an EGG50 promotion for 50% off challenges.
• The Upside Funding (theupsidefunding.com) — Hong Kong-based firm offering up to 95% profit split with 24-hour payouts. Account sizes range from $2,000 to $100,000, priced between $34 and $589. Trades on MT5 across forex, metals, indices, energy, and crypto.
• Hola Prime (holaprime.com) — 65-95% tiered profit split with weekly, bi-weekly, or monthly payout options. Currently offering EASTER40 (40% off) discount.
• Phidias Prop Firm (phidiaspropfirm.com) — Another daily-payout entrant, adding to the growing list of firms competing on payout speed.
• DNA Funded (dnafunded.com) — Up to 90% profit split with 7-14 day payouts and a 3-5% daily drawdown range.

Existing Firms Update Their Terms

Several established firms also adjusted their offerings in early 2026:

The most notable trend here is Elite Trader Funding's move to 100% profit splits and same-day payouts. This matches what we're seeing from newer entrants and suggests the industry is converging toward faster payouts and higher profit shares as the baseline expectation.

Five Key Industry Trends for 2026

Looking at all these changes together, five clear trends emerge:

1. Daily Payouts Are Becoming Standard

A year ago, weekly payouts were considered fast. Now, firms like Tradeify, WeMasterTrade, FundYourFX, Traders Launch, and Atlas Funded (on-demand) offer daily or near-instant payouts. Expect this to become a competitive requirement by late 2026.

2. 90%+ Profit Splits Are the New Floor

With multiple firms now offering 90-100% profit splits, the days of 70-80% splits as a selling point are fading. Firms that can't offer at least 85% will struggle to attract experienced traders who know the market.

3. Firm Consolidation Is Accelerating

MyFundedFX's acquisition, SurgeTrader's closure, and The Funded Trader's rebrand all point to an industry that's maturing. Firms with unsustainable models are being acquired or shutting down, while survivors are upgrading their terms to stay competitive. This is healthy for traders in the long run — but it means due diligence on firm stability is more important than ever.

4. Hong Kong Is Emerging as a Prop Firm Hub

Both The Funding Kingdom (rebranded Funded Trader) and The Upside Funding operate from Hong Kong. This geographic diversification may appeal to traders seeking firms outside the traditional US and UK jurisdictions.

5. The Comparison Site Space Is Crowding

The number of prop firm comparison and review sites has exploded in 2026. This is actually good news for traders — more independent analysis means more transparency and more pressure on firms to offer genuinely competitive terms. At PropFirmMap, we're committed to data-driven comparisons using our Challenge Cost Calculator and Challenge Comparison Tool to help you cut through the noise.

What This Means for You

If you're evaluating prop firms in 2026, here's the actionable takeaway:

• Demand daily or weekly payouts — anything slower is below market standard now
• Expect 85%+ profit splits — don't settle for less unless the firm excels in other areas (drawdown flexibility, platform choice, scaling plans)
• Check firm stability — look for firms with 2+ years of operating history, positive Trustpilot reviews, and transparent ownership. The MyFundedFX shutdown proves that even established firms can disappear
• Use comparison tools — with 50+ firms and constantly changing terms, manually comparing challenges is impractical. Use our firm comparison page to filter by the metrics that matter to you
• Watch for discount codes — competition is driving aggressive promotions. Codes like Hola Prime's EASTER40 (40% off) and Atlas Funded's EGG50 (50% off) can significantly reduce your challenge cost

We update our database as firms change their terms. Browse all 50+ firms or use the Challenge Cost Calculator to find the best deal for your trading style.

Affiliate Disclosure: PropFirmMap may earn commissions from firms listed on this site. This does not influence our rankings or recommendations, which are based on objective data from our database.