April 2026 Prop Firm Market Pulse: 11 New Firms, Platform Wars, and the Rise of 1-Step Challenges

If the prop trading industry felt crowded last month, it just got a lot more interesting. In the first week of April 2026 alone, PropFirmMap tracked 11 new firm additions, bringing our database to 53 active firms offering over 620 challenge programs. The pace of change is accelerating — and so are the shifts in how these firms compete for your attention (and your money).

This is our monthly market pulse: a data-driven snapshot of what is actually happening across the prop firm landscape, based on real numbers from our database — not press releases or affiliate pitches.

11 New Firms Hit the Market

The biggest story this month is sheer volume. We added and verified 11 new prop firms in early April:

• Goat Funded Trader — Hong Kong-based, 80–100% profit split, 4.8 TrustPilot rating (highest among new entrants), 12 challenges across 1-Step and 2-Step evaluations. Currently running an EASTER50 promo code for 50% off.
• OneFunded — Offering 50–100% profit split with Flash and Core evaluation types on MT5. Running APRIL10 for 10% off.
• Maven Trading — Expanded from a basic listing to 24 full challenges across 4 evaluation types (1-Step, 2-Step, 3-Step, and Instant Funding) on MT5 and Match Trader.
• Tradeify — Futures-focused, 90% profit split.
• Phidias Prop Firm — New entrant still building out challenge details.
• DNA Funded — Up to 90% profit split.
• Hola Prime — 65–95% profit split range with an EASTER40 promo code for 40% off.
• Atlas Funded — One of the few firms offering a full 100% profit split. Running EGG50 for 50% off.
• WeMasterTrade — 90% profit split.
• FundYourFX — 80–95% profit split range.
• The Upside Funding — Hong Kong-based, up to 95% profit split with 24-hour payouts.

For context, that is a 26% increase in the number of active firms on our platform in a single reporting period. The barriers to entry in prop trading continue to fall, and the competition for traders is fierce.

Browse all 53 active firms →

The 1-Step Takeover: Evaluation Type Breakdown

One of the most significant structural shifts we are tracking is the dominance of 1-step evaluations. Looking at all 620 active challenges in our database:

1-step evaluations now represent the single largest category, and the gap is widening. Why? Traders want speed. Firms that force you through two or three phases of evaluation are losing ground to competitors that let you prove yourself in one shot. The 2-step model is not dead — it still accounts for 38% of all challenges — but the momentum is clearly with 1-step programs.

Instant funding options (44 challenges, 7% share) are the fastest-growing niche. These let you skip the evaluation entirely, typically in exchange for a lower initial profit split or higher upfront fee. Maven Trading alone added multiple instant funding options this month.

Read our deep comparison of 1-Step vs 2-Step vs 3-Step evaluations →

Platform Wars: MT5 Pulls Ahead

The trading platform landscape is consolidating around a few key players. Here is what firms are actually offering their traders:

The story here is MT5's dominance. Nearly half of all active firms now support MetaTrader 5, and several new entrants (OneFunded, Maven Trading) launched exclusively on MT5. MetaTrader 4 is hanging on with 11 firms, but the writing is on the wall — MT5 is the standard.

The interesting subplot is the rise of Match Trader and TradeLocker. Match Trader already has 10 firm partnerships, making it a serious alternative to cTrader. TradeLocker, with only 4 firms, is still early but has been gaining visibility. If you are choosing a firm partly based on platform, these numbers matter.

The Discount Code Arms Race

Competition among firms has driven an explosion of promotional discounts. We are currently tracking 22 active discount codes across the platform:

Note the range: from 5% off (E8 Markets) to 90% off (Apex Trader Funding). The average discount across all active codes is roughly 35%, which means you are likely overpaying if you sign up for any challenge at full price.

Browse all 22 active discount codes →

Firms We Said Goodbye To

Not every firm survives. Since our last industry report, the following firms have been deactivated on PropFirmMap:

• MyFundedFX — Acquired by Seacrest Markets; prop trading operations shut down in February 2026. Domain still active but no longer offering challenges.
• Fast Track Trading — Removed due to operational concerns.
• OANDA Prop Trader — Deactivated as a duplicate listing (OANDA's prop program was a white-label of an existing firm).
• SurgeTrader — Confirmed dead since May 2024. Domain now listed for sale.

Additionally, The Funded Trader rebranded to The Funding Kingdom with a new URL and updated challenge structure. If you had an account there, check that your login still works under the new brand.

This is the reality of a fast-moving industry. Firms launch, merge, rebrand, and die — sometimes within months. That is why independent comparison platforms like PropFirmMap exist: to track these changes so you do not have to.

Profit Split Watch: The 100% Club Grows

One of the most trader-friendly trends is the growing number of firms offering 100% profit splits. Currently, three firms in our database offer (or can offer) 100% payouts:

• Atlas Funded — 100% profit split from the start
• Goat Funded Trader — 80–100% range, with 100% achievable at higher tiers
• OneFunded — 50–100% range, scaling up with consistency

Add these to established names like Phoenix Trader Funding (100% on select challenges) and Elite Trader Funding (100% on funded accounts), and you have genuine competition at the top of the profit split spectrum.

For most firms, the standard split still hovers between 80% and 90%. But the fact that new entrants are launching with 100% as their headline number shows where the market is heading. Profit splits are a race to the top, and traders are the winners.

Full breakdown: every firm offering 100% profit splits →

5 Trends to Watch in Q2 2026

Based on the data we are tracking, here are the five trends we expect to shape the next few months:

1. Instant Funding Will Double

With 44 instant funding challenges already live, and new firms like Maven Trading adding them, expect this category to break 80+ by June. Traders who have already proven themselves at other firms do not want to re-evaluate.

2. MT4 Support Will Continue to Drop

MT5 has 24 firms versus MT4's 11, and the gap is widening every month. Firms launching in 2026 are not even considering MT4. If your strategy relies on MT4-specific features (like hedging), verify your firm still supports it before committing.

3. Discount Codes Will Become Permanent

When Apex Trader Funding offers 90% off and Earn2Trade offers 60% off, these are not really "sales" — they are the real price. Expect more firms to adopt permanent discount structures rather than raising and lowering prices.

4. Consolidation Is Coming

With 53 active firms (and counting), the market is oversaturated. MyFundedFX's shutdown and SurgeTrader's closure are early signals. Smaller firms without differentiation — especially those with no TrustPilot presence and generic challenge structures — will struggle to survive.

5. AI-Driven Discovery Will Reshape Marketing

PropFirmMap is already seeing referral traffic from ChatGPT. Traders are increasingly asking AI assistants "what is the best prop firm for me?" instead of Googling. Firms with clean, structured data and strong review profiles will win this new discovery channel. Those that depend solely on affiliate marketers will fall behind.

By the Numbers: April 2026 Snapshot

What This Means for You

If you are shopping for a prop firm right now, you are in the strongest buyer's market the industry has ever seen. More firms, more discounts, more evaluation options, and more platforms than at any point in prop trading history.

But more choice also means more noise. Use tools like our Challenge Cost Calculator, Challenge Comparison Tool, and Firm Finder Quiz to cut through the marketing and find the firm that actually fits your trading style and budget.

We will be back next month with the May 2026 Market Pulse. Until then, trade carefully — and never pay full price for a challenge.

All data in this article is sourced directly from the PropFirmMap database as of April 7, 2026. Firm details, pricing, and discount codes may change. Always verify current offers on the firm's website before purchasing. PropFirmMap may earn a commission if you sign up through our affiliate links, at no extra cost to you. See our affiliate disclosure for details.