The largest and most mature prop firm sub-segment: FX & CFD operators, broker relationships, and the MetaTrader question.
FX & CFD remains the industry's largest sub-segment but the slowest-growing — and the most exposed to platform and broker counterparty risk.
FX & CFD operators account for an estimated 64% of industry funded-account count and 71% of TTM payout volume — but only 11% of TTM growth, the lowest of any sub-segment.
MetaTrader dependence remains the central risk. The May 2026 payout dispute affecting two top-10 operators is symptomatic of a sub-segment whose economics are tied to a single platform vendor.
Key Report Takeaways
- 64% of industry funded-accounts; 71% of payout volume; 11% of growth.
- MetaTrader dependence is the central structural risk.
- cTrader and proprietary-platform alternatives gaining share among new launches.
- Broker counterparty concentration warrants attention.
- Sub-segment overview
- Broker counterparty map
- The MetaTrader question
- Operator profiles
- Payout dispute case studies
- Platform migration economics
- Spread & commission benchmarks
- Risk & outlook
The MetaTrader question
MetaTrader 5 remains the dominant platform but its share of new operator launches has slipped from 71% in 2024 to 52% in 2026. cTrader and proprietary platforms are the primary beneficiaries.
Continue reading the full report.
Full charts, operator-level data tables, and the underlying dataset are available to CobraSight members.
