FundedSeat, a futures-focused proprietary trading firm, announced its closure yesterday (Monday), citing “limitations from big trading platforms which kept [it] from reaching the growth [it] needed to become a major player.”
“We gave it everything we had,” the prop firm noted in a letter to its community, signed by its COO, Floba. “But after two years, it became clear that without access to these platforms, we would never reach the growth velocity required to build FundedSeat into what it needed to be.”
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The firm said all active accounts will be refunded, while pending withdrawals and positive live account balances will be disbursed.
Closing the Shutter after Two Years
FundedSeat was founded two years ago by three brothers from Amsterdam with a focus on daily payout plans. According to the company, its monthly payouts had grown to nearly $700,000.
The futures prop platform did not support popular trading platforms like NinjaTrader or Tradovate. Offering MetaTrader was also out of the question because of its developers' strict licensing rules for props.
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Platform Access for Props Is Narrowing
Platform access has shaped the prop trading sector for several years. As Finance Magnates reported earlier, MetaQuotes began suspending licenses in early 2024 for prop firms serving US investors on MetaTrader 4 and 5. Now, FTMO is the only prop to offer MetaTrader 5 to US traders.
That route has since narrowed. Spotware, the developer of cTrader, told Finance Magnates that, following an internal assessment in the first quarter of 2026, it made a "strategic decision to restrict the onboarding of US-based traders" on the platform.
Meanwhile, closures of prop firms have been frequent. Finance Magnates earlier reported that between 80 and 100 prop trading firms closed in 2024, while challenge pass rates fell. SurgeTrader, Funded Engineer, Propel Capital, and True Forex Funds are only a few names that have closed their operations in recent years.
