{
  "name": "PROP NAVI — Prop Firm Shutdown Tracker",
  "updated": "2026-06-21",
  "source": "https://propnavi.io/data/shutdown-tracker/",
  "license": "https://creativecommons.org/licenses/by/4.0/",
  "count": 10,
  "records": [
    {
      "name": "True Forex Funds",
      "founded": 2021,
      "status": "closed",
      "closedDate": "2024-05-13",
      "cause": "metaquotes",
      "causeNote": "MT4/MT5 license revoked by MetaQuotes (Feb 2024); operations ended May 2024.",
      "unpaidEstUsd": "~$1.2M",
      "tradersAffected": "~300",
      "isEstimate": true,
      "sourceLabel": "FX News Group — Exclusive: Prop trading firm True Forex Funds shut down by MetaQuotes move",
      "sourceUrl": "https://fxnewsgroup.com/forex-news/retail-forex/exclusive-prop-trading-firm-true-forex-funds-shut-down-by-metaquotes-move/"
    },
    {
      "name": "The Funded Trader",
      "status": "winding-down",
      "closedDate": "2024-03-28",
      "cause": "payout-failure",
      "causeNote": "Paused all operations amid denied payouts; later attempted a partial resume.",
      "unpaidEstUsd": ">$2M denied payouts",
      "isEstimate": true,
      "sourceLabel": "Finance Magnates — Prop-ageddon: real-time updates on prop firms still online",
      "sourceUrl": "https://www.financemagnates.com/forex/prop-ageddon-is-your-prop-firm-still-online-real-time-updates/"
    },
    {
      "name": "SurgeTrader",
      "status": "closed",
      "closedDate": "2024-05-24",
      "cause": "metaquotes",
      "causeNote": "Closed within a week of losing its trading-platform license.",
      "sourceLabel": "Finance Magnates — Prop-ageddon: real-time updates on prop firms still online",
      "sourceUrl": "https://www.financemagnates.com/forex/prop-ageddon-is-your-prop-firm-still-online-real-time-updates/"
    },
    {
      "name": "MyForexFunds (Traders Global Group)",
      "slug": "myforexfunds",
      "founded": 2020,
      "status": "restructured",
      "cause": "enforcement",
      "causeNote": "CFTC alleged $310M from ~135,000 customers (2023-09); case dismissed with prejudice 2025-05-13; firm hinted at a comeback.",
      "unpaidEstUsd": "$310M alleged",
      "tradersAffected": "~135,000",
      "isEstimate": true,
      "sourceLabel": "Finance Magnates — My Forex Funds parent defeats CFTC in court as judge imposes sanctions",
      "sourceUrl": "https://www.financemagnates.com/forex/my-forex-funds-parent-defeats-cftc-in-court-as-judge-imposes-sanctions/"
    },
    {
      "name": "Skilled Funded Traders",
      "status": "closed",
      "closedDate": "2024-03-29",
      "cause": "metaquotes",
      "causeNote": "Suspended operations the same week as The Funded Trader; cited platform-migration failures (cTrader/DXtrade) after the MetaQuotes crackdown, alongside payout-denial complaints.",
      "sourceLabel": "Finance Magnates — Easton-controlled Skilled Funded Trader suspends prop trading operations",
      "sourceUrl": "https://www.financemagnates.com/forex/easton-controlled-skilled-funded-trader-suspends-prop-trading-operations/"
    },
    {
      "name": "Funded Engineer",
      "status": "closed",
      "closedDate": "2024-07-15",
      "cause": "insolvency",
      "causeNote": "Dubai-based firm filed for bankruptcy after FPFX Technologies revoked its license (Feb 2024) and it lost its brokerage partner in the MetaQuotes crackdown.",
      "sourceLabel": "Finance Magnates — Breaking: Prop trading firm Funded Engineer shuts down",
      "sourceUrl": "https://www.financemagnates.com/forex/breaking-prop-trading-firm-funded-engineer-shuts-down/"
    },
    {
      "name": "Stocknet Institute (SI World)",
      "status": "closed",
      "closedDate": "2024-07-04",
      "cause": "other",
      "causeNote": "UK-based firm wound down its prop business, citing a strategic pivot away from the industry; stopped new clients and disabled challenge purchases.",
      "sourceLabel": "FX News Group — Prop firm Stocknet Institute (SI World) shuts down",
      "sourceUrl": "https://fxnewsgroup.com/forex-news/retail-forex/prop-firm-stocknet-institute-siworld-shuts-down/"
    },
    {
      "name": "Smart Prop Trader",
      "slug": "smartproptrader",
      "status": "closed",
      "closedDate": "2024-12-29",
      "cause": "other",
      "causeNote": "Stopped onboarding 2024-11-27 and ceased operations end of December; framed as an orderly wind-down with refunds/resolution plans, not a regulatory action.",
      "sourceLabel": "Finance Magnates — Another prop firm announces closure in year that saw 50+ companies shutter",
      "sourceUrl": "https://www.financemagnates.com/forex/another-prop-firm-announces-closure-in-year-that-saw-50-companies-shutter/"
    },
    {
      "name": "Propel Capital",
      "founded": 2024,
      "status": "closed",
      "closedDate": "2025-08-19",
      "cause": "insolvency",
      "causeNote": "UK-registered firm folded after ~14 months; CEO blamed unsustainable competition. Dec 2024 filings showed ~£3,000 in assets against £150,000+ in liabilities.",
      "sourceLabel": "Finance Magnates — Prop firm Propel Capital folds after 14 months, CEO blames competition",
      "sourceUrl": "https://www.financemagnates.com/forex/prop-firm-propel-capital-folds-after-14-months-ceo-blames-fierce-competition/"
    },
    {
      "name": "FundingTicks",
      "status": "winding-down",
      "closedDate": "2026-01-18",
      "cause": "other",
      "causeNote": "Began winding down after Dec 2025 rule changes (stricter holds, higher thresholds, lower splits) drew backlash; tiered refunds offered. CEO cited $220M+ paid out historically.",
      "sourceLabel": "Finance Magnates — Following profit cuts and trading limits, prop firm FundingTicks begins winding down",
      "sourceUrl": "https://www.financemagnates.com/forex/following-profit-cuts-and-trading-limits-prop-firm-fundingticks-begins-winding-down/"
    }
  ]
}