PropShopTrader review 2026: 1-Step futures assessments, 90% split, 4% EOD trailing drawdown
PropShopTrader is a Tartu, Estonia-based proprietary trading firm founded in 2024. Pro and Flex use a 1-Step futures assessment with a 6% target and 4% end-of-day trailing drawdown, while Direct skips assessment; live brokerage partners are not disclosed. Pays out up to 90% of profits through on-demand requests after qualifying days, with $5M+ in legacy published payouts as of September 19, 2026.
What is PropShopTrader?
PropShopTrader is a proprietary trading firm operated through PropShopTrader OÜ, an Estonian private limited company. The entity was registered in 2024 and lists Tartu, Estonia as its base. Its program combines 1-Step futures assessments with Direct Futures accounts that skip the assessment stage. Account sizes are $25K, $50K, $100K, and $150K.
An evaluation is a simulated trading test that applies profit and risk objectives before funded-stage access. Pro and Flex follow an assessment-to-funded structure, while Direct begins under funded-account rules. FXSharp therefore classifies the overall structure as hybrid rather than a single evaluation type. PropShopTrader is not a broker-dealer and does not provide broker-style investor protection.
Can PropShopTrader payouts be verified?
PropShopTrader payout verification has two separate layers: legacy published payouts and the current program structure. FXSharp retains a legacy figure of $5M+ in published simulated payouts. It also records ten legacy proof images, but no dedicated current public payout-proof URL. Current payout requests are recorded as on demand after the required qualifying trading days.
A sponsor broker is the licensed brokerage entity that handles live-market execution when traders transition beyond simulation. FXSharp could not verify the identity of PropShopTrader's live brokerage partner, so the sponsor remains not disclosed. The firm's current legal disclosures refer to third-party regulated brokerage partners without naming one. This leaves no public broker license number that can be independently matched to the program.
The firm's program changed materially on January 6, 2026. Gladiator payout requests were removed and replaced by a benchmark model, while prior progress did not count toward new benchmarks (source: PropShopTrader policy update, January 6, 2026). The current Pro, Flex, and Direct pages again describe payout-request eligibility under newer plan structures.
What trading platforms are available?
Trading platform access currently centers on Tickblaze and Rithmic for the futures programs. Tickblaze supplies charting and order-entry functionality, while Rithmic provides futures connectivity for compatible trading interfaces. Neither platform establishes the identity of the live sponsor broker.
The MetaTrader status is not available. The research did not verify a MetaQuotes server tied to the firm, so MT4 or MT5 support is not recorded. The platform score in the FXSharp rubric is consequently 0.0, because the scoring framework requires additional verified sponsor, platform, app, API, or latency evidence.
Red flags and warning signs
Risk findings center on policy stability, sponsor disclosure, and corporate filing status rather than a regulator enforcement action. The overall FXSharp score is 3.3 out of 10. Payout reliability scores 2.5, rule fairness 4.5, drawdown terms 2.5, business maturity 6.5, platforms and sponsor 0.0, and community signal 3.0.
The firm's January 2026 update removed Gladiator payouts and excluded earlier trading history from the new benchmark progression (source: PropShopTrader policy update, January 6, 2026). Current terms also reserve the right to change service fees, evaluation content, and successful-completion requirements unilaterally (source: PropShopTrader Terms of Use, scan date September 19, 2026).
- The live sponsor broker is not publicly named.
- FXSharp currently finds no dedicated payout-proof page.
- Legacy program rules changed materially during January 2026.
- The 2025 annual report was overdue at the scan date.
What did a challenge cost?
Challenge pricing starts at $59.25. That figure corresponds to the lowest verified promotional price found during the scan. The maximum challenge fee was not sufficiently verified, so no upper price is stated here.
The available account ladder is $25K, $50K, $100K, and $150K. Pro and Flex are 1-Step assessment paths, while Direct Futures removes the evaluation stage. The profit target for assessment accounts is 6 percent. Fees are program-access charges rather than deposits into a personal brokerage account.
The refund policy is recorded as no refund. The firm's Return/Refund Policy states that completed purchases are final once access is provisioned, except where applicable law requires otherwise. That condition matters because failing an evaluation does not create a contractual refund right under the stated program policy.
Has the firm been investigated by regulators?
Regulatory research did not identify a matching PropShopTrader warning or enforcement entry in the searched CFTC, FCA, ASIC, CySEC, or IOSCO public results on September 19, 2026. The firm is therefore not classified as regulator-actioned. Its regulatory status remains unregulated because a prop firm is not a licensed broker-dealer.
The absence of a warning is different from having a financial-services license. PropShopTrader's own legal disclosures state that it is not a broker-dealer, investment adviser, futures commission merchant, exchange, or clearing firm. Any live brokerage execution would therefore depend on a separate licensed third-party broker.
What do traders say about payouts?
Trader-community evidence was not strong enough to support a high payout-reliability score under the required rubric. The FXSharp community signal, meaning documented trader sentiment and reach, is 3.0 out of 10. The research did not establish the large review base, verified community scale, or sustained independently measurable sentiment required for higher scoring.
The strongest verified payout evidence comes from the firm's own legacy material, which reported more than $5 million in simulated payouts. That figure belongs to the legacy model and should not be treated as a current live-broker payout audit. The January 2026 Gladiator change also means older payout experiences do not describe the same operating model now shown on the site.
How to verify its claims for yourself
Verification should separate corporate existence, program rules, and brokerage execution because each answers a different question. A company registration proves the legal entity exists, but it does not verify payouts or establish brokerage regulation. A named broker license would be needed to confirm the execution venue.
- Search the Estonian Business Register for PropShopTrader OÜ and registration number 16949893.
- Compare the current Pro, Flex, and Direct plan pages with the signed trader agreement.
- Check the payout rules for the exact account size and platform selected.
- Ask for the legal name and regulator of any live brokerage partner.
- Verify that broker directly in its regulator's public register before relying on the disclosure.
The same process should be repeated after major rule updates. Current terms permit program changes, so a screenshot or document from an older program does not establish today's conditions.
Rule changes and what they mean
Rule-change history is unusually relevant because the firm revised its operating model twice during January 2026. The January 6 release removed Gladiator payout requests, introduced benchmarks, and excluded pre-change performance from benchmark progress (source: PropShopTrader policy update, January 6, 2026). A January 31 update then removed the 40 percent consistency rule from that benchmark structure.
The current product range is different again. Pro, Flex, and Direct futures plans use an EOD trailing drawdown, or End of Day loss limit that adjusts from end-of-day account values. The maximum overall drawdown is 4 percent, while no separate daily drawdown limit is recorded.
For a $25,000 account, a 4 percent overall limit represents $1,000 of loss capacity before considering plan-specific mechanics. Because the drawdown trails at end of day, profitable closing balances can move the effective threshold upward. That makes the drawdown formula as important as the headline percentage.
Where is the firm actually registered?
Corporate registration points to Tartu, Estonia, through PropShopTrader OÜ. The Estonian Business Register lists registration number 16949893 and a registration date of March 22, 2024. The entity remains shown as entered in the register at the September 19, 2026 scan date.
The same registry states that the 2025 annual report was overdue and that a deletion notice had been published (source: Estonian Business Register, scan date September 19, 2026). A deletion notice is a corporate filing issue, not proof that the firm has ceased trading. The FXSharp business-maturity score remains 6.5 because the legal entity and Tier-1 European jurisdiction are identifiable.
Sponsor broker disclosure
Sponsor broker disclosure remains the clearest unresolved verification gap. The sponsor is listed as not disclosed and the sponsor regulator as not disclosed. The firm's legal pages refer to regulated brokerage partners in general terms, but they do not identify a broker by legal name.
This distinction matters because the broker, not the prop firm, would carry execution, custody, clearing, margin, and reporting obligations for live trading. Without a named entity, the claimed regulated brokerage relationship cannot be matched to an FCA, CFTC/NFA, ASIC, CySEC, or other register. The scoring rubric therefore awards no sponsor-broker points.
| Feature | PropShopTrader Information |
|---|---|
| Founded | 2024 |
| Headquarters | Tartu, Estonia |
| Evaluation type | Hybrid: 1-Step assessments and Direct Futures |
| Account sizes | $25K, $50K, $100K, $150K |
| Challenge fee | From $59.25; maximum not verified |
| Profit target | 6% |
| Max daily drawdown | Not applicable |
| Max overall drawdown | 4%, EOD trailing |
| Profit split | 90% |
| Payout schedule | On demand after qualifying days |
| Sponsor broker | Not disclosed |
| Sponsor verification | Could not verify |
| Trading platforms | Tickblaze, Rithmic |
| Total paid out | $5M+ legacy published figure |
| Refund policy | No refund, except rights required by applicable law |
PropShopTrader red flags at a glance
PropShopTrader remains operational, but the evidence produces a 3.3 out of 10 overall score. The main limitations are the undisclosed sponsor broker, limited current payout-proof infrastructure, and significant 2026 program changes. Those findings exist alongside a registered Estonian company and clearly published current futures parameters.
The firm's strongest verified operational terms are the 90 percent profit split, 4 percent EOD trailing drawdown, and $25K-$150K account range. The weakest verification point is live brokerage routing. The January policy history also shows that program mechanics can change materially within a short period.
Prop firm challenges carry a non-refundable fee in most programs; passing the evaluation is not guaranteed and the funded stage is a simulated account whose payouts depend on the firm's continued solvency and policy. This content is for information only, not investment advice. Verify the firm's current rules, sponsor broker disclosure, and any open regulator actions on its official site and on the relevant authority's official register before paying any challenge fee.
FXSharp is an independent site that reviews forex brokers and prop trading firms. Every license is checked on the regulator's own register, every score follows our published methodology, and no broker can pay for a higher rating.
