Analysis
Regulation Watch: EU Pressure Builds for Prop Firm Disclosure Rules
European regulators continue informal consultations on whether retail-facing prop firms should fall under existing investor-protection frameworks.
Industry contacts in Brussels and Frankfurt describe an accelerating set of informal consultations on whether retail-facing proprietary trading firms — particularly those marketing evaluations to consumers — should be subject to disclosure rules closer to those governing CFD brokers. No formal proposal has been published, but firms with EU customer bases are increasingly hiring compliance counsel in anticipation. The shape of any eventual rule is likely to hinge on whether evaluation fees are treated as a financial service or a training product.
Popular firms
Apex Trader Funding
Austin, USA
- Model
- Evaluation-Based Funding
- Split
- 100%
- Payouts
- Bi-weekly (up to 2 per month, every 8 days)
- Max
- $300,000
Topstep
Chicago, USA
- Model
- Evaluation-Based Funding
- Split
- 90%
- Payouts
- Weekly (after 5 profitable days)
- Max
- $150,000
FTMO
Prague, Czech Republic
- Model
- Evaluation-Based Funding
- Split
- 90%
- Payouts
- On-demand (default 14 days, weekly available)
- Max
- $200,000
My Funded Futures
Charlotte, USA
- Model
- Evaluation-Based Funding
- Split
- 90%
- Payouts
- Bi-weekly (every 14 days)
- Max
- $150,000
FundedNext
Dubai, UAE
- Model
- Evaluation-Based Funding
- Split
- 95%
- Payouts
- Weekly (Stellar) / on-demand
- Max
- $400,000
Jane Street
New York, USA
- Model
- Firm Capital Model
- Split
- 50%
- Payouts
- Salary + discretionary bonus
- Max
- Internal capital only — no external trader accounts
Compare these side-by-side in the firm comparison tool or browse the full directory.
Frequently asked
Background reading that complements this story.
- How does this analysis differ from a firm review?
- Analysis pieces examine a trend, data set, or industry development. Firm profiles focus on a single firm's program details, terms, and editorial assessment.
- What data sources do you use?
- We combine publicly disclosed firm data, payout reports, regulatory filings, and our own structured database of every prop firm we track.
- Can I get a personalized firm shortlist?
- Yes — answer a short profile of your asset class, account size, and trading style and we'll email a curated shortlist of firms that fit.
More background: the glossary, our education library, and our transparency policy.
Related coverage
Analysis
State of Prop Trading: A $19.4 Billion Industry Defined by a Great Profit Split Divide — Week of July 5, 2026
Proprietary trading has grown to a $19.4 billion industry with 720,000 active traders. Our latest data analysis reveals a clear split in the market, with firms clustering around two distinct profit-sharing models, separating traditional houses from online evaluation firms.
Analysis
State of Prop Trading: Data Reveals a Two-Tier Market in a $19.4 Billion Industry — Week of June 28, 2026
This week's data analysis shows the proprietary trading industry's continued explosive growth, reaching an estimated $19.4 billion. A deep dive into 40 firms reveals a clear split between high-payout evaluation firms and traditional 'firm capital' models, with significant clustering around specific profit splits and asset classes.
Analysis
State of Prop Trading: Data Reveals a $19.4 Billion Industry Split by Two Competing Models — Week of June 14, 2026
Our latest data analysis reveals a proprietary trading landscape that has grown to an estimated $19.4 billion, supported by 720,000 active traders. This week, we examine the deep statistical rift between traditional 'firm capital' models and the high-leverage 'evaluation-based' online firms, with a median profit split of just 50% highlighting the industry's true center of gravity.
Analysis
Prediction Markets Emerge as Prop Trading's New Frontier, But a Divide Looms
While new retail-focused prop firms for prediction markets are launching, institutional trading firms are approaching the asset class with significant caution. This creates a two-track ecosystem, with retail traders pioneering new strategies while institutional capital waits for greater liquidity and regulatory clarity.
Analysis
The Complexity Tax: Are Prop Firm Rulebooks Designed to Fail Traders?
Convoluted rulebooks full of obscure restrictions like End-of-Day trailing drawdowns and consistency rules may function as a hidden profit center for prop firms, maximizing revenue from failed challenges rather than identifying trading talent. We analyze this 'complexity tax' and what it means for traders.