The firms that closed
Facts checked October 22, 2026
Between February 2024 and late 2025, an estimated 80–100 prop firms ceased operating — roughly one in seven operators. A dated closure record is not gossip; it is the base rate for the question every buyer should ask first: will this firm exist at my payout?
Half one: on August 28, 2023, the CFTC sued Traders Global Group (MyForexFunds, then among the largest firms in the industry), alleging fraud — that the firm acted as counterparty, manipulated slippage, and ran on fees: $310M+ in fees from 135,000+ customers. Operations froze the next day; traders were locked out mid-payout.
Half two: the case collapsed. On May 13, 2025, a US federal judge dismissed the complaint with prejudice, finding the CFTC had misrepresented evidence — a CAD $31.5M tax payment characterised as asset dissipation — and the CFTC was sanctioned roughly $3.1M in costs. The brand's assets were sold; a relaunch has been announced but new challenges could not be confirmed on sale as of autumn 2026.
The lesson is double-sided and this site prints both halves because beginners deserve the whole record: the largest firm in the industry can vanish overnight on a regulator's filing — and the regulator's case itself failed. Firm risk and state risk are both real; neither cancels the other.
The common mechanism was not trading losses: it was platform dependency — the February 2024 MetaQuotes licence revocations that cut firms off from MT4/MT5. See the 2024 shakeout. A firm's platform stack is part of its survival odds, and it is checkable before you pay.
The verdict gives you the expected cost and the rule that applies to you. The Challenge Odds Kit gives you, program by program, the before-you-buy checklist, the style-versus-rules worksheets, the expected-cost workbook, and the payout-protection playbook: how to never hand a firm the excuse to refuse your payout.
Included in the $39 Challenge Odds Kit
Sources: the firms' own published pages (price grids and program terms), the FPFX Technology dataset of 300,000+ accounts reported by Finance Magnates (2024), pass and payout figures published by the firms themselves, and regulator publications (CFTC, FSMA, Consob, CNMV). Recorded and checked October 22, 2026. Prices on this site are the list prices recorded on that date, promotions excluded; if a price or a rule has moved since, the firm's own page wins — and write to help@doogex.com so we can correct ours.