ATFX shuts down prop trading unit ATFunded

The retail prop trading surge is not working for every broker. ATFX, which launched its branded prop firm unit ATFunded in early 2025, is now closing the business.

ATFunded sold trader evaluation challenges to retail clients. The unit started with a small team that included former MyForexFunds executives. Earlier this year, CEO Josh Dentrinos left the company, and Connor Mccourt later stepped in as general manager. He has now left as well.

ATFX says ATFunded is "pausing operations" while it reviews the business and its product line. At the same time, the company is refunding all customer purchases. It is also saying that funded traders with eligible profits will get payouts under its rules.

The ATFunded website now shows a notice in place of the home page. The message says the firm is pausing so it can review whether its current model can work for the long term. It also says the company wants to find an approach that better fits trader results and business stability.

The notice adds that MT5 will switch to close-only mode and that all open trades must be closed by 1 pm EST. Active account holders will receive full refunds, and more details will be sent directly over the next few days.

Mccourt also posted a goodbye message on X and LinkedIn. He said he had chosen to step down and take a new opportunity. He said the last 18 months were full of challenges, growth, and memorable moments, and thanked the team and trader community for their support. He also said the transition will be handled professionally and that ATFunded will meet its commitments to traders during the shutdown.

ATFX operates from several locations around the world, including Hong Kong, Dubai, and London. The company is controlled by chairman Hiu Keung, also known as Joe Li.