Active Investigations

FundedSeat, a futures-focused prop firm founded about two years ago, announced it is closing. In a letter to its community it said that without access to the large trading platforms, it would never reach the growth it needed. The firm reported that monthly payouts had grown to nearly $700,000 before the closure. It states that pending withdrawals and positive live account balances will be paid out and that all active accounts will be refunded, with support staying available by live chat and email while it winds down. These are the firm's own statements as reported by Finance Magnates; we will log whether payouts and refunds are completed as reporting emerges. FundedSeat is not currently covered in our firm reviews.

GOAT Funded Futures - the futures-focused arm of the GOAT Funded Trader brand, operated by WITI LIMITED (Hong Kong) - shows a polarized 2.8/5 across 163 Trustpilot reviews, with close to half at 1-star. The most consistent, independently-repeated complaint involves a strict minimum trade hold-time rule (reportedly around 2 minutes) that traders say isn't prominently disclosed before purchase, with reports of profits retroactively stripped from trades that closed too quickly. A second recurring complaint involves accounts terminated for alleged 'coordinated group trading' without the firm sharing the evidence behind the determination. Independent reviewers generally describe it as a legitimate, paying firm rather than a scam, with rule-enforcement transparency and support responsiveness cited as the biggest risks. We added GOAT Funded Futures to our review coverage in August 2026 - see its dedicated review page for the full breakdown.

Sam Bradbury acquired Get Funded Now's brand, intellectual property, customer accounts, and operating assets on August 5, 2026, returning to direct prop-firm ownership roughly two years after exiting a previous firm, Glow Node. Bradbury Capital Ltd is named as the operating entity - this matches what's currently disclosed on getfundednow.com, which we independently verified when adding the firm to our coverage. The deal's terms are private, and the acquirer states no overdue payouts or unpaid service-provider debts existed at closing, with existing trader accounts and obligations assumed by the new owner. Worth flagging: two of Bradbury's other companies, Propriotec and Rage Creative, continue supplying technology and marketing services to Get Funded Now - a related-party vendor relationship rather than a proven conflict of interest, but worth knowing.

The Financial Commission announced a voluntary certification and independent dispute-resolution framework for proprietary trading firms on July 22, 2026 - reviewing a firm's rulebook, payout policy, risk controls, and complaint handling, renewable annually. The oversight committee includes people from RUBIK, Truvian, and FPFX Technologies. No firms have been confirmed as certified yet, and participation is voluntary, so this doesn't change anything about a specific firm today - but it's the first industry-wide accountability mechanism of its kind, and worth watching as certifications (or a firm's absence from the list) start to appear.

NinjaTrader sent Alpha Futures (a PropFirmNova affiliate partner) a termination notice on July 9, 2026 alleging an invoice balance over 3 months overdue; the partnership ended July 12, days after Alpha launched its own competing platform, AlphaTrader. Alpha publicly disputed the framing, saying a prior $2.4M overcharge dispute was settled in February and the disputed $225,700 was settlement credit, not new debt. Regardless, Alpha's NinjaTrader-dependent Premium Plan became unviable and was closed, and Alpha initially converted affected traders' already-earned payouts into account refunds instead of paying them out. Prop Firm Match delisted Alpha Futures the same day over traders losing payouts they'd already earned. On July 15, under pressure, Alpha reversed course and paid an initial 10% batch of outstanding Premium payouts, resuming same-day payouts on Zero/Advanced accounts. As of July 25, 2026, no further payout batches or a Prop Firm Match relisting have been publicly confirmed - we're continuing to monitor and will update this case as soon as either happens. We are disclosing this directly on Alpha Futures' own review page as well - see the red flag section there.

Australia's securities regulator (ASIC) cancelled the AFS license of CFD issuer Trive Financial Services Australia, effective July 1, 2026, as part of a broader review covering 52 CFD issuers. Trive had already stopped onboarding new clients in April 2025 after ASIC identified process deficiencies. Not a pure prop firm, but relevant regulatory context for anyone trading CFDs through a similarly-structured broker.

An estimated 80-100 funded-trading firms shut down between February 2024 and the end of 2025 - roughly 13-14% of the industry - largely driven by MetaQuotes revoking MT4/MT5 licenses from firms with improper broker relationships or firms serving US clients. This is a structural/platform-access risk distinct from any single firm's conduct, and worth knowing before choosing a firm that depends on MetaTrader access.

A federal judge dismissed the CFTC's high-profile fraud case against My Forex Funds/Traders Global Group on May 13, 2025, after a court-appointed Special Master found the CFTC acted in bad faith - misrepresenting a routine CAD $31.55M tax payment as evidence of asset dissipation to freeze the firm's accounts. The CFTC was sanctioned over $3M in fees and costs, and several CFTC staff were placed on administrative leave. This doesn't mean the underlying firm was clean - it means the regulator's specific case collapsed on procedural grounds. We're including it because it materially changes how the CFTC's original fraud allegations should be weighed by anyone who read about the original 2023 freeze.