MyFundedFX Shutdown: What Happened and What Traders Should Learn

Author: TraderNotion Team

TLDR: MyFundedFX — rebranded as SeacrestFunded in 2025 — shut down its prop trading division on February 6, 2026. Withdrawal processing was suspended, funded accounts were closed, and traders were given until February 28 to request refunds or final payouts. The closure followed a broader industry pattern where 80+ prop firms vanished between 2024 and 2025, and it carries lessons every funded trader should take seriously.

Another prop firm is gone. In February 2026, SeacrestFunded (formerly MyFundedFX) announced that it was shutting down all proprietary trading operations effective immediately. Active funded accounts were closed, open positions were liquidated, and withdrawal processing was suspended — leaving traders scrambling to recover challenge fees and unpaid profits through a limited refund window.

What Exactly Happened: The Full Timeline

MyFundedFX launched in 2022 and quickly became a popular mid-tier prop firm known for fast payouts and competitive challenge pricing. Here's how the collapse unfolded:

2022–2024: Growth phase. MyFundedFX built a solid reputation with up to 90% profit splits, quick evaluation turnarounds, and a growing community. The firm operated on MetaTrader 5 and attracted a loyal user base.

Mid-2024: MetaQuotes crackdown. MetaQuotes began restricting prop firm access to MetaTrader platforms, particularly for firms serving US-based traders. MyFundedFX was among several firms — including FundedNext, Funding Pips, and Blue Guardian — forced to migrate traders to alternative platforms like DXtrade and MatchTrader. This disruption cost the firm users and momentum.

Late 2024–Early 2025: Rebrand to SeacrestFunded. MyFundedFX rebranded as SeacrestFunded to align with its broker wing, Seacrest Markets. The move was framed as a shift toward a broker-backed model with greater regulatory legitimacy. US customers were restricted during this transition.

January 2026: Warning signs mount. Website traffic dropped sharply — some tracking sources reported a decline of over 75%. Withdrawal processing times began stretching. Community forums lit up with complaints about delayed payouts and unresponsive support.

February 6, 2026: Shutdown. Seacrest Markets announced that all prop trading operations would cease immediately. Every prop trading account and open position was closed. The company stated it would focus exclusively on its CFD brokerage business going forward.

February 28, 2026: Refund deadline. Traders with active, unbreached challenge accounts could request a full refund of their challenge fee through an official refund form. Funded account holders could request their final payout balance through the Seacrest Dashboard. After this date, the window closed.

Why This Matters

This shutdown hits harder than most because MyFundedFX wasn't some fly-by-night operation. It had been around for nearly four years, carried a visible brand presence, and had processed thousands of payouts. When a firm with that track record can disappear in a matter of weeks, it forces a question every prop trader should be asking: how exposed am I?

The practical implications are straightforward. Traders who had active challenges lost access to their accounts — some mid-evaluation. Funded traders with pending withdrawals were left hoping the refund process would actually work. And anyone who had built a strategy around MyFundedFX's specific rules and platform had to start over somewhere else.

The deeper issue is structural. Prop firms operate outside traditional financial regulation. There is no deposit insurance, no oversight body ensuring your funds are safe, and no legal obligation for these firms to honor payouts if they decide to close. Understanding how prop firm evaluations actually work — including the business model behind them — is the first step toward protecting yourself.

How This Compares to Other Prop Firm Closures

MyFundedFX is far from the first. Between 2024 and early 2026, the prop trading industry experienced its worst period of consolidation in history, with an estimated 80 to 100 firms shutting down.

MyForexFunds (2023): Shut down by the CFTC on allegations of $310 million in fraud from 135,000 traders. The case was later dismissed with sanctions against the CFTC itself, and the firm has signaled plans to return — but traders were locked out for years.

SurgeTrader (2024): Closed permanently after losing its Match-Trader platform license. Traders received minimal notice and limited recourse.

True Forex Funds (2023): Suspended operations shortly after the MyForexFunds fallout, citing industry uncertainty.

The pattern is consistent: sudden announcement, suspended withdrawals, a short refund window, and silence. MyFundedFX followed this script closely, though it did at least provide a structured (if time-limited) refund process.

Firms like FTMO, FundedNext, and The 5%ers have maintained stable operations through this period. That doesn't guarantee their permanence, but longevity and transparent payout histories are meaningful signals.

Community Reaction

The response across Trustpilot, Reddit, and X (formerly Twitter) was predictable but no less painful. Traders reported learning about the closure while actively working toward withdrawal milestones. Some had funded accounts exceeding $100,000 in simulated capital and were mid-payout cycle when the shutdown hit.

Common themes in the community fallout included frustration over the lack of advance warning, skepticism about whether the refund process would actually deliver, and anger at the rebrand-to-shutdown pipeline — where the SeacrestFunded transition now looked less like a strategic upgrade and more like a precursor to an exit.

Several traders noted that the warning signs — declining traffic, slower payouts, reduced community engagement, and the sudden restriction of US customers — were visible months before the formal announcement but easy to rationalize away.

Our Take

The MyFundedFX shutdown is a textbook case of why diversification matters in prop trading, not just across strategies, but across firms. Treating any single prop firm as a long-term career platform is a risk the industry simply doesn't support right now.

The rebrand to SeacrestFunded was not inherently a red flag. Firms rebrand for legitimate reasons. But when a rebrand is paired with restricted access to key markets, declining user metrics, and a pivot away from the core business — that combination should trigger a hard reassessment.

We also think the February 28 refund deadline was unreasonably tight. Giving traders just three weeks to navigate a new dashboard, submit claims, and hope for processing isn't trader-friendly. It's liability management.

What to Do Now: Protecting Yourself

If you were affected by the MyFundedFX shutdown — or you want to make sure you're not caught off guard by the next one — here's what to do:

Spread your capital across multiple firms. Never have all your funded accounts with a single provider. If one shuts down, you've lost a revenue stream, not your entire trading income. Consider established firms like FTMO or FundedNext alongside newer options.

Withdraw profits frequently. Don't let profits accumulate in your prop firm dashboard. The moment a payout is available, take it. Money inside a prop firm account is not your money until it's in your bank.

Monitor firm health actively. Track Trustpilot reviews, social media sentiment, website traffic trends, and payout processing times. A sustained decline across these metrics is a warning.

Keep records of everything. Screenshots of account balances, payout confirmations, email correspondence, and challenge receipts. If a firm closes, documentation is your only leverage.

Understand the business model. Prop firms make money primarily from challenge fees. When pass rates rise and payouts exceed fee revenue, the math stops working. Firms in that position either change their rules or close. Neither outcome is in your favor.

FAQ

Is MyFundedFX completely shut down? Yes. As of February 6, 2026, all prop trading operations under the SeacrestFunded (formerly MyFundedFX) brand have been permanently closed. The parent company, Seacrest Markets, continues to operate as a CFD broker only.

Can I still get a refund from MyFundedFX? The official refund deadline was February 28, 2026. Traders with unbreached challenge accounts could request fee refunds, and funded traders could request final payout balances through the Seacrest Dashboard. If you missed this window, recovery options are unclear — contact Seacrest Markets support directly.

Why did MyFundedFX shut down? Seacrest Markets made a strategic decision to exit proprietary trading and focus on its CFD brokerage business. Contributing factors included the MetaQuotes crackdown on prop firm platform access, declining user traffic, and broader industry consolidation that saw 80+ firms close between 2024 and 2025.

What are the best alternatives to MyFundedFX? Established firms with consistent payout histories include FTMO, FundedNext, and The 5%ers. Each has different rule sets, profit splits, and evaluation structures — compare them carefully before committing.

How can I tell if a prop firm is about to shut down? Watch for declining website traffic, slower withdrawal processing, sudden rule changes, rebranding paired with market restrictions, reduced community engagement, and negative review trends on Trustpilot. No single indicator is definitive, but multiple signals appearing together should prompt action.

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