Closed Prop Firms Registry
Prop firms that stopped selling challenges, paused payouts, changed their name or were hit by regulators, with dates and sources. We track 90 active firms separately in our ranking.
| Firm | Status | Since | Market | What happened |
|---|---|---|---|---|
| The Funded Trader | Closed | Aug 2025 | Forex | The Funded Trader was a large forex/CFD prop firm launched in 2021. It halted payouts and paused all operations in March 2024 during a platform migration and the MetaQuotes licensing crackdown, then resurfaced in August 2024 with partial catch-up payouts. |
| OANDA Prop Trader | Closed | 31 Mar 2026 | Forex | OANDA Prop Trader was the in-house prop trading challenge programme of the broker OANDA. It launched in January 2024 as "OANDA Labs Trader" (offered through OANDA's BVI-regulated Global Markets arm) and was renamed OANDA Prop Trader by mid-2024; its last published challenge terms name OANDA Assessments Limited (Malta, C 106331) as the operator. |
| Smart Prop Trader | Closed | 29 Dec 2024 | Forex | Smart Prop Trader was an Austin, Texas based forex/CFD prop firm founded by trader and YouTuber Blake Olson, which publicly launched its evaluation programs in December 2022. On 27-28 November 2024 it announced on social media that it had stopped onboarding new traders and would wind down operations by 29 December 2024, hinting at an unspecified new venture. |
| My Forex Funds | Closed | Aug 2023 | Forex | My Forex Funds (MFF) was a forex prop trading evaluation firm run by Traders Global Group Inc. of Vaughan, Ontario, with Murtuza Kazmi as owner and CEO; the firm dates its founding to 2020. |
| SurgeTrader | Closed | 24 May 2024 | Forex | SurgeTrader was a Naples, Florida prop trading firm run by SurgeTrader, LLC and backed by Valo Holdings Group; it launched its funded-account 'Audition' in September 2021 with CFD access to FX, indices, metals, equities and crypto. After the early-2024 MetaQuotes crackdown on prop firms it moved traders to the Match-Trader platform, but Match-Trade Technologies terminated its licence (notice of 5 April 2024, cited as unmet contractual obligations), and SurgeTrader paused new Auditions in May 2024. |
| Funded Engineer | Closed | 15 Jul 2024 | Forex | Funded Engineer was a Dubai-based forex/CFD prop firm that sold two-phase evaluation challenges on MetaTrader, with simulated accounts scaling up to $2M. In February 2024 its technology supplier FPFX Technologies terminated its licence, citing an alleged fraud scheme, and around the same time its broker Purple Trading suspended MT4/MT5 services, forcing a delayed relaunch on Blueberry Markets. |
What the registry shows
6 closed. Every entry links to a page with a dated timeline and the sources we used. We add firms when their official site stops selling challenges or when reliable reports confirm a closure, and we move them back to the ranking if they genuinely relaunch.
Closures are the main risk of buying a prop firm challenge. Read how to check a prop firm before you pay and compare the most established firms.
FAQ
Which prop firms have closed?
Our registry lists 6 prop firms that closed, paused, rebranded or faced regulator action, including The Funded Trader, OANDA Prop Trader, Smart Prop Trader, My Forex Funds.
Why do prop firms close?
Common reasons are lost platform licences (as in the 2024 MetaQuotes changes), payouts growing faster than challenge revenue, payment-processor problems and regulator action. Several firms that closed had good ratings shortly before.
How can I protect myself?
Buy small accounts, withdraw profits as soon as you are eligible, prefer firms with a named legal entity and a multi-year record, and keep copies of your statements and payout requests.