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Refund-style challenges driving 22% of new account growth
April 9, 2026 · By Marcus Chen
Refundable challenge structures continue to gain share, particularly among first-time prop trading customers.
Refund-style challenge products — where the challenge fee is returned upon first payout — now account for approximately 22% of new account growth across the operators CobraSight tracks.
The structure has proven especially attractive to first-time prop trading customers, who cite reduced perceived risk as the primary draw.
Operators report that refund products carry a slightly higher pass-through cost but improved retention metrics.