ATFunded, the prop trading unit of ATFX, has paused its operations and is conducting a “full review of the business.” The service suspension comes less than two years after the contracts for differences (CFD) broker launched its prop business in October 2024.
Evaluating “Alternative Models”
“The prop trading industry has evolved considerably, and we believe it is important to take the time to assess whether our current models are sustainable for the long term,” a notice on the ATFunded website notes. “We have chosen to pause, stabilise, and evaluate alternative models that better align trader success with company sustainability.”
The platform also stresses that it will meet all obligations to its customers and fully refund purchases made by active account holders. It further assured customers that pending payouts would be made to all funded traders.
ATFX is considered one of the major players in the CFD industry, but its financial results are not public as it is a private company operating through several global entities. It also did not, and is not required to, disclose the financial performance of its prop trading unit.
Is It an Alarm Bell?
Drew Niv, Chief Strategy Officer at ATFX, last year revealed that the broker converted more than 10 per cent of its prop traders into brokerage customers.
Meanwhile, the Chief Executive of ATFunded, Joshua Dentrinos, departed earlier this year, only a few months after joining. It remains unclear who took charge of the prop business after his departure.
ATFX’s suspension of its prop business raises serious questions about the sustainability of the funded trader model.
