The power structure of the prop firm industry is undergoing a major shift. According to a February 2026 analysis by industry specialist media TradeInformer, FundedNext may have surpassed FTMO to become the largest prop firm in the industry.
This article provides a comprehensive explanation of the latest data-based comparison between FundedNext and FTMO, changes in the industry power structure, and what this means for traders.
Shocking Data: Has FundedNext’s Cumulative Payout Exceeded FTMO’s?
Prop Firm Match Data
According to data from prop firm comparison site “Prop Firm Match”, FundedNext’s cumulative payout over the past 12 months is approximately $177 million (about 26.5 billion yen). This figure combines both CFD and Futures brands.
Estimates from FTMO’s Financial Statements
Meanwhile, from the 2024 financial statements of FTMO’s Czech entity “FTMO Evaluation Global s.r.o.”, the following has been revealed:
- Annual revenue: approximately $323 million (about 48.4 billion yen)
- Estimated payouts to traders: approximately $162 million (assuming 50% of revenue)
In other words, FundedNext ($177 million) may have exceeded FTMO (estimated $162 million) in payout amounts.
[speech_bubble type=”std” subtype=”L1″ icon=”shinsho.png” name=”しんしょ君”]Wait, hasn’t FTMO always been number one in the industry!?[/speech_bubble]
[speech_bubble type=”std” subtype=”R1″ icon=”kaitai.png” name=”かいたい先生”]FTMO has been on top for 10 years since 2015, and now they may have finally been overtaken. This is pretty big news[/speech_bubble]
Signs of FTMO’s Concern? Recent Moves
TradeInformer’s analysis interprets FTMO’s recent actions as “responses to declining market share”:
1. Introduction of One-Step Challenge
FTMO has long offered only the “two-step challenge”. However, they recently introduced a one-step challenge. This is seen as a countermeasure against competitors like FundedNext and PipFarm that offer one-step options.
2. Regular Discounts on Main Products
They began offering their most popular $100,000 account (normally €540) at a regular 19% discount. This is a move that would have been unthinkable for FTMO previously.
[speech_bubble type=”std” subtype=”R1″ icon=”kaitai.png” name=”かいたい先生”]The fact that FTMO has started offering discounts is proof that competition has intensified. When the industry leader is getting anxious, it’s a good time for traders as it means more options[/speech_bubble]
FundedNext vs FTMO 2026 Latest Comparison
Basic Specifications Comparison
| Item | FundedNext🟦 | FTMO⬛️ |
|---|---|---|
| Established | 2022 | 2015 |
| Headquarters | UAE | Czech Republic |
| Cumulative Payouts | Over $261 million | Over $400 million (claimed) |
| Last 12 Months Payouts | $177 million | Estimated $162 million |
| Profit Split | 80-95% | 80-90% |
| Cheapest Challenge | $99 ($10k) | $155 ($10k) |
| Challenge Types | 1-step / 2-step | 1-step / 2-step |
| News Trading | Allowed | Conditionally allowed (from 2026) |
| EA Usage | Conditionally allowed | Conditionally allowed (from 2026) |
| Trustpilot Rating | 4.6/5.0 | 4.9/5.0 |
FundedNext’s Strengths
- Cost Performance — About 36% cheaper than FTMO for the same account size
- Up to 95% Profit Split — Maximum rate after scaling is higher than FTMO
- Unrestricted News Trading — News trading allowed without restrictions
- Rapid Growth Momentum — Competing for industry top position just 4 years after establishment
FTMO’s Strengths
- Overwhelming Track Record — 10 years of operation, over $400 million in cumulative payouts
- Industry-Leading Reliability — Trustpilot 4.9/5.0
- Stable Payouts — Extremely few reports of payout issues
- Partnership with Oanda — Increased reliability through partnership with regulated broker
[speech_bubble type=”std” subtype=”L1″ icon=”shinsho.png” name=”しんしょ君”]So which one is better in the end?[/speech_bubble]
[speech_bubble type=”std” subtype=”R1″ icon=”kaitai.png” name=”かいたい先生”]Honestly, both are excellent. If you prioritize cost performance, choose FundedNext; if you prioritize stability, choose FTMO. The smartest choice is to use both[/speech_bubble]
How Will the Industry Power Structure Change?
Major Changes from 2024-2026
- 80-100 Companies Disappeared — Acceleration of small-scale firm consolidation
- Concentration into Top 3-4 Companies — FTMO, FundedNext, FundingPips, Alpha Capital at the top
- Regulatory Movements — Ongoing regulatory discussions by CFTC and ESMA (European Securities and Markets Authority)
- Technological Innovation — Rise of new platforms like TradeLocker
What This Means for Traders
Intensified competition among major players is beneficial for traders:
- Reduction in challenge fees
- Increase in profit split rates
- Rule relaxation (EA approval, news trading OK, etc.)
- Faster payouts
Summary
The prop firm industry in 2026 is facing a major turning point.
- FundedNext may have exceeded FTMO in payout amounts
- FTMO is countering with one-step introduction and discounts
- Competition among major players is positive for traders
- Consolidation of small-scale firms will continue
[speech_bubble type=”std” subtype=”R1″ icon=”kaitai.png” name=”かいたい先生”]What matters isn’t “which is number one” but choosing a firm that fits your trading style. If you’re undecided, trying both is also an option[/speech_bubble]
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