The firm reportedly operated using an A-book model, which involved mirroring funded traders' positions in the actual market rather than relying on simulated or internalized trades.
Funded Unicorn blamed the abrupt end of its operations on “massive losses” and “bureaucratic hurdles.”
A screenshot of Funded Unicorn's website
One of the biggest prop trading firms in Germany, Funded Unicorn, has closed its operations, shaking the prop trading community and raising deeper questions about the sustainability of certain risk models.
Unique A-Book Strategy
According to a blog by proptraders, unlike most prop
trading firms that rely on challenge fees and operate largely on a simulated
trading basis, Funded Unicorn used what’s known as an “A-book” model. The firm
mirrored every trade made by its funded traders on the actual market.
“We deeply regret this development. Our goal was always to
establish Funded Unicorn as a reputable and transparent prop trading firm based
in Germany – a platform that offers ambitious traders real opportunities and
fair conditions,” the company wrote in a statement circulated to its users.
A screenshot of the message forwarded to Funded Unicorn users
No Recovery Plans Yet
Funded Unicorn has yet to announce any recovery plans or future restructuring. In the message circulated to users, Funded Unicorn partly blamed what it described as bureaucratic hurdles for its business's closure. The company joins several other prop trading companies that have been forced to shut operations recently.
Towards the end of last year, Smart Prop Trader, a prop firm
offering funded trading accounts, announced it would stop accepting new traders
as it prepares to wind down operations by year-end.
And before that, Funded Engineer, another troubled prop
trading firm, also announced a “permanent closure” of its operations last year and
the decision to file for bankruptcy amid heightened volatility in the space. Around the same time, another prop trading firm, Karma
Capital, unexpectedly closed its operations.
The turmoil in the prop trading space claimed many companies
last year. According to estimates gathered by Finance Magnates Intelligence, between
80 and 100 proprietary trading firms may have disappeared from the market in 2024. What seemingly triggered the volatility was MetaQuotes' decision to step
back from supporting prop firms.
One of the biggest prop trading firms in Germany, Funded Unicorn, has closed its operations, shaking the prop trading community and raising deeper questions about the sustainability of certain risk models.
Unique A-Book Strategy
According to a blog by proptraders, unlike most prop
trading firms that rely on challenge fees and operate largely on a simulated
trading basis, Funded Unicorn used what’s known as an “A-book” model. The firm
mirrored every trade made by its funded traders on the actual market.
“We deeply regret this development. Our goal was always to
establish Funded Unicorn as a reputable and transparent prop trading firm based
in Germany – a platform that offers ambitious traders real opportunities and
fair conditions,” the company wrote in a statement circulated to its users.
A screenshot of the message forwarded to Funded Unicorn users
No Recovery Plans Yet
Funded Unicorn has yet to announce any recovery plans or future restructuring. In the message circulated to users, Funded Unicorn partly blamed what it described as bureaucratic hurdles for its business's closure. The company joins several other prop trading companies that have been forced to shut operations recently.
Towards the end of last year, Smart Prop Trader, a prop firm
offering funded trading accounts, announced it would stop accepting new traders
as it prepares to wind down operations by year-end.
And before that, Funded Engineer, another troubled prop
trading firm, also announced a “permanent closure” of its operations last year and
the decision to file for bankruptcy amid heightened volatility in the space. Around the same time, another prop trading firm, Karma
Capital, unexpectedly closed its operations.
The turmoil in the prop trading space claimed many companies
last year. According to estimates gathered by Finance Magnates Intelligence, between
80 and 100 proprietary trading firms may have disappeared from the market in 2024. What seemingly triggered the volatility was MetaQuotes' decision to step
back from supporting prop firms.
iFOREX Adds Saudi and South Korean Equity CFDs as IPO Is Delayed
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
