Prop Firm Crypto Payouts Doubled to $115 Million in Q1 2026, but Growth Has Stalled Since December
Crypto
payouts tracked on public blockchains across the ten largest proprietary
trading firms rose from $55.3 million in Q1 2025 to $115.1 million in Q1 2026,
according to a new FM Intelligence analysis.
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The 109%
year-over-year jump masks a sharper story, the figure barely moved against the
$115.2 million recorded in Q4 2025, a 0.1% sequential change that points to an
inflection after two years of rapid expansion.
👉 Read the full FM Intelligence analysis here:Tracked Prop Firm Crypto Payouts
Doubled to $115M in Q1 2026
Two Prop Firms Now Account
for 71% of Tracked Volume
Within the
cohort, the distribution of growth was uneven. FundedNext CFDs climbed 293%
year-over-year to $42.7 million, while MyFunded Futures rose 161% to $38.5
million. Together the two firms represented 70.5% of Q1 2026 tracked payouts
across the top 10. Six other operators moved the other way, with TopTier Trader
down 78%, FXIFY down 59%, and Blue Guardian and E8 Markets both posting
double-digit declines.
The broader 2025 payout league table
compiled by Prop Firm Match put the full-year figure at roughly $325 million, excluding FTMO and
The5ers.
Transaction
counts continued to climb even as aggregate dollar flows flattened. The cohort
processed 61,682 payout events in Q1 2026, up 8.1% from Q4 2025 and 129%
year-over-year. Average payout size fell to $1,865 from $2,020, suggesting more
traders are hitting first-payout thresholds but at smaller ticket sizes.
Five Firms Added Brokerage
Licenses in 10 Months
The plateau
at the top has coincided with a structural pivot across the surviving cohort.
Between May 2025 and March 2026, five prop firms or their founders added
regulated brokerage entities to their corporate structures. FTMO closed its $250 million acquisition
of OANDA on
December 1, 2025, financed through a UniCredit-led credit line. FundedNext launched FNmarkets in May
2025 under a
Comoros licence, with Mauritius and Dubai applications pending.
The5ers
founders took a minority stake in CySEC-licensed TSG Brokers, which went live
in January 2026. The Trading Pit registered TTP Markets with the Seychelles
FSA, and Seacrest, formerly MyFundedFX, shut down its prop operations in early
February 2026 to operate exclusively as an FSCA-regulated CFD broker. FM
Intelligence estimates approximately 80 to 100 prop firms ceased operations
between January 2024 and Q1 2026.
The Math That Still
Defines the Industry
FPFX
Technology data covering 300,000 accounts across 10 firms shows a 14% challenge pass rate and a 7%
payout rate, with
average payouts equal to roughly 4% of funded account size. The July 2025
insolvency of Funded Unicorn, which described losses in the high seven figures
from mirroring all funded positions one-for-one in the market, illustrated the
risk that brokerage infrastructure is now being built to address.
No
jurisdiction has enacted bespoke prop firm regulation as of April 2026. The
Czech National Bank, CySEC, and ASIC have signaled scrutiny without concrete
rules.
The CFTC’s case against MyForexFunds was
dismissed with prejudice in May 2025 after a special master found the regulator had
taken “deliberate steps down a path of obfuscation and avoidance.”
Yesterday (Tuesday), prop
firm E8 Markets released
a PR statement warning retail traders about the CFD market, noting that
most participants lose money there. At the same time, it describes itself as a
“SaaS educational simulation platform for financial markets” to avoid
regulatory scrutiny.
👉 Read the full FM Intelligence breakdown, including
firm-by-firm payout tables, the brokerage build-out tracker, and sequential
comparisons:Tracked Prop Firm Crypto Payouts
Doubled to $115M in Q1 2026
This article was written by Damian Chmiel at www.financemagnates.com.
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