Welcome to the first newsletter of This Week In Prop, covering the biggest news, updates, and events shaping the prop firm space.
This week has been an eventful one, with controversial rule changes and reversals, new Labs drops, and the next stage of My Forex Funds’ return.
Trump Card
FundingPips has celebrated nearing $300m in total payouts, but the milestone was overshadowed by complaints about a quietly introduced rule. Capital Critic noticed that the Zero program had a new news restriction: on Trump’s X tweets. Traders that made money when the president sent out announcements could have their profits deducted, while losses made in the same period would remain in place.
The rule was soon changed to more vague ‘Significant Unscheduled Market Event’ wording, which was arguably worse and contained the same lose-lose profit deduction. Needless to say, traders weren’t happy with this rule either, and it was eventually removed after significant community backlash.
Similarly, Blue Guardian Futures removed the Windfall Strategy Rule after posts about payout denials gained significant traction on X.
Points Mean Prizes
Over at My Funded Futures, positive rule changes were being made too. They removed monthly billing, making evaluations a one time fee, with no time limit. While base prices increased, so did discounts, leaving prices after discount largely the same. The Rapid EOD was made permanent.
The firm also launched My Funded Club, a loyalty program where traders earn points and packs for purchases and trading milestones. Within packs, which can also be purchased for points, are evaluation fee discounts of up to 99%.
Back In The Claim
After processing payouts for funded accounts with positive equity, My Forex Funds has opened their claim form for all traders with active accounts at the time of shutdown in 2023.
While it remains unclear what traders will receive, eligible traders are encouraged to submit a claim before the form closes in a month. MFF aims to provide an initial update within three to four weeks of each submission.
Labsjà vu
The latest trend of limited time Labs drops shows no sign of slowing, with Tradeify launching the Forge program with a $300k account. At $449 for $6k of drawdown, the initial release wasn’t well received. Tradeify soon released a significantly improved v2 with $8k drawdown for $349.
Topstep, the first firm with a Labs program, briefly re-released their $250k Freedom Combine, and the $25k Static is back at the moment. If I had to bet, I’d say the hugely popular $3k Challenge will also return at some point.
Thanks for reading, if you think I’ve missed something, or want me to cover a certain topic, send a message on my discord server. There’s a free account giveaway going on there at the moment too.
