FTMO Acquires OANDA: What It Means for Funded Traders
In December 2025, FTMO completed its acquisition of OANDA — one of the most significant deals in retail trading history. The OANDA Prop Trader programme shut down on March 31, 2026. Here is what happened and what it means for the industry.
On December 2, 2025, FTMO — the Czech-based prop trading firm with over 21,000 funded traders — completed its acquisition of OANDA Global Corporation from private equity firm CVC Asia Fund IV. The deal, which took eight months to close across five regulatory jurisdictions, is the most consequential transaction in the retail trading industry in years.
What Was Acquired
OANDA is one of the oldest and most recognisable names in retail forex. Founded in 1996, the firm operated regulated brokerage services across North America, Europe, and Asia-Pacific, offering forex, CFDs, equities, commodities, and crypto trading. It also ran OANDA Prop Trader, a separately branded prop trading challenge programme.
FTMO paid an undisclosed sum to CVC Asia Fund IV. The combined entity positions itself as, in FTMO's own words, a "global trading powerhouse" — combining FTMO's evaluation and funded account model with OANDA's regulated brokerage infrastructure and 25+ years of institutional credibility.
OANDA Prop Trader Is Gone
For prop traders specifically, the most immediate consequence is the closure of the OANDA Prop Trader programme. FTMO announced in early 2026 that OANDA Prop Trader would formally conclude on March 31, 2026.
The rationale was strategic: rather than running two competing prop products under the same roof, FTMO chose to consolidate prop trading under its own brand. OANDA Prop Trader clients were transitioned to FTMO directly.
If you were an OANDA Prop Trader client, your options depended on your stage in the programme. Active funded accounts were given a transition period. Evaluation clients were advised to complete their challenge before the March deadline or switch platforms.
Why This Deal Matters
The FTMO-OANDA transaction signals a fundamental shift in how the retail trading industry is organising itself. For most of the 2020s, prop firms and brokerages operated as entirely separate categories. Prop firms ran evaluation-based funded account programmes. Brokerages executed trades and held client funds.
The FTMO acquisition blurs that line in a significant way. FTMO now controls regulated brokerage infrastructure across multiple jurisdictions — the same infrastructure that prop firms have historically lacked and that regulators have been demanding they acquire.
This matters because the CFTC, FCA, and ASIC have all signalled increasing scrutiny of the prop trading model. Firms that cannot demonstrate regulatory compliance, capital adequacy, or proper client money segregation are at risk. FTMO's acquisition of OANDA gives it a compliance architecture that most of its competitors cannot match.
The Consolidation Trend
FTMO and OANDA are not alone. Between 2023 and 2024, an estimated 80 to 100 prop firms closed globally — many because they could not survive tighter operating conditions, rising compliance costs, or payment processor scrutiny.
The firms that are growing are the ones with institutional-grade infrastructure, strong review track records, and transparent payout processes. The firms that are shrinking or closing are often newer, less capitalised, and operating on margins that depend on most traders failing their evaluations.
This consolidation is ultimately positive for serious traders. Fewer, stronger firms means less risk of waking up to find your prop firm has disappeared overnight.
What to Look for Now
The FTMO-OANDA deal reinforces a principle that should guide every funded trader's firm selection: size, track record, and regulatory transparency matter. A firm that has operated for five or more years, maintained consistent payout behaviour, and proactively disclosed its terms is a fundamentally lower-risk counterparty than a two-year-old firm with an aggressive discount code and no review history.
On PropRadar, every firm's trust score reflects rule stability, payout reliability, and verified review volume — the exact signals that distinguish durable firms from those at risk of closure. You can check FTMO's full breakdown, including how its acquisition of OANDA affected its operational profile, directly on its firm page.