Sway Funded Acquires Another Struggling Prop Firm Within a Month

At the start of our news round-up, according to details provided by moderators on Sway Funded's Discord server, the company decided to acquire its struggling competitor, Karma Prop Traders, taking over its clients and their active challenges. For Sway Funded, this marked another acquisition of a prop firm that had been facing liquidity issues within the past few weeks.

Sway Funded clients reportedly received emails yesterday evening (Wednesday) informing them that the prop firm they use has purchased its competitor Karma Prop Traders, which announced solvency and liquidity problems earlier this month. Although Karma operated in the prop trading market for only a brief moment, it quickly gained investors' sympathy, introducing Match-Trader integrated with TradingView to its offering just a few months after launch.

“We are ready to acquire any prop firm that shuts down,” States Astra Capital Group

In the face of numerous recent retail prop firm failures or suspensions of their operations due to licensing issues with trading platforms, one entity offered to take over all troubled entities this week. However, Astra Capital Group sets one condition. The potential migration would take a maximum of two days, allowing clients to continue trading and struggling business owners to generate some revenue.

Last weekend, Astra Capital announced that it is “ready to acquire any prop firm that shuts down or pauses operations, taking on all their traders” and onboarding them to its platform. Astra Capital has only been in the market since early 2024, but it has since introduced its own technology, which allowed it to launch its proprietary trading platform, Astra X, which is currently available for desktop computers and mobile devices.

Prop Trading Firm Indigo Trader Funding Confirms Shutdown

Indigo Trader Funding, a prop trading firm that had earlier gone silent on its social media channels, confirmed the closure of its operations as it “failed in this business endeavor.” Finance Magnates earlier reported that the company had even applied for its name to be struck off the UK's official register.

“Indigo Trader Funding ceased trading and, as of today, has ended any agreements/partnerships attributed to the operation of the evaluation model prop firm,” noted the announcement released today by the prop trading firm. The official announcement came only a day after the company’s name was officially removed from the company registry. It applied for the strike-off on August 12.