The power dynamics of the prop firm industry are undergoing a major shift. According to a February 2026 analysis by industry specialist media TradeInformer, FundedNext may have overtaken FTMO to become the industry’s largest prop firm.
This article provides a thorough analysis of the latest data comparing FundedNext and FTMO, changes in industry power dynamics, and what it 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). This figure combines both CFD and Futures brands.
Estimates from FTMO’s Financial Statements
Meanwhile, the following has been revealed from FTMO’s 2024 financial statements for the Czech entity “FTMO Evaluation Global s.r.o.”:
- Annual revenue: approximately $323 million (about ¥48.4 billion)
- Estimated trader payouts: approximately $162 million (assuming 50% of revenue)
In other words, FundedNext ($177 million) may have surpassed 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 #1 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 a “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 Flagship Products
They’ve started offering their most popular $100K account (normally €540) at a regular 19% discount. This is an unthinkable move for the previous FTMO.
[speech_bubble type=”std” subtype=”R1″ icon=”kaitai.png” name=”かいたい先生”]The fact that FTMO has started discounting is proof that competition has intensified. When the industry leader is showing concern, it’s a good time for traders as options are increasing[/speech_bubble]
FundedNext vs FTMO 2026 Latest Comparison
Basic Specifications Comparison
| Item | FundedNext🟦 | FTMO⬛️ |
|---|---|---|
| Established | 2022 | 2015 |
| Headquarters | UAE | Czech Republic |
| Cumulative Payouts | $261M+ | $400M+ (claimed) |
| Recent 12-Month Payouts | $177M | Est. $162M |
| 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 spot in just 4 years since establishment
FTMO’s Strengths
- Overwhelming Track Record — 10 years of operations, over $400M in cumulative payouts
- Industry’s Highest Credibility — Trustpilot 4.9/5.0
- Stable Payouts — Extremely few reports of payout issues
- Partnership with Oanda — Enhanced credibility through collaboration with regulated broker
[speech_bubble type=”std” subtype=”L1″ icon=”shinsho.png” name=”しんしょ君”]So which one is better?[/speech_bubble]
[speech_bubble type=”std” subtype=”R1″ icon=”kaitai.png” name=”かいたい先生”]Honestly, both are excellent. FundedNext if you prioritize cost performance, FTMO if you prioritize stability. Using both is the smartest choice[/speech_bubble]
How Will Industry Power Dynamics Change?
Major Changes from 2024-2026
- 80-100 Firms Disappeared — Consolidation of small firms is accelerating
- Concentration in Top 3-4 Firms — FTMO, FundedNext, FundingPips, Alpha Capital at the top
- Regulatory Movements — Regulatory discussions by CFTC and ESMA (European Securities and Markets Authority) are progressing
- Technological Innovation — Rise of new platforms like TradeLocker
What It Means for Traders
Intensified competition among major players is beneficial for traders:
- Lower challenge fees
- Increased profit split rates
- Relaxed rules (EA approval, news trading OK, etc.)
- Faster payouts
Summary
The prop firm industry in 2026 is entering a major turning point.
- FundedNext may have surpassed FTMO in payout amounts
- FTMO is counteracting with 1-step introduction and discounts
- Competition among major players is a plus for traders
- Consolidation of small firms will continue
[speech_bubble type=”std” subtype=”R1″ icon=”kaitai.png” name=”かいたい先生”]What matters isn’t “which one is #1,” but choosing a firm that matches your trading style. If you’re unsure, trying both is also an option[/speech_bubble]
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