ProjectX has suddenly cut ties with every prop firm except TopStep, and traders are not taking it well. The decision landed out of nowhere for most firms, although it now looks like something that may have been in the works behind the scenes for a while.
ProjectX contacted prop firms with a long, very polished explanation about why third-party support is being wound down. The message blamed rising compliance demands and operational pressures, saying the platform can’t keep servicing everyone without compromising standards. The usual corporate language, but firms still have until February 2026 before the plug is fully pulled.
What has really set people off is the fact that only one firm has been spared. As you’d expect, rumours are doing the rounds again with the familiar theory that ProjectX is tied far more closely to TopStep than anyone has officially admitted. Nobody has confirmed anything, but there have been hints for a while. One of them is a job posting on TopStep’s own site which mentions overseeing all “TopStep web experiences including ProjectX and sub brands”. It doesn’t prove anything on its own, but it definitely adds to the picture.
There’s also been a lot of talk linking Plus500 to all of this, though much of that is still just noise on social media rather than anything substantial.
What traders are really angry about is the timing. Earlier this year TopStep dropped support for every platform except ProjectX, which caused a massive backlash. Now ProjectX itself is pulling away from everyone else, leaving a list of prop firms scrambling to find a replacement platform and thousands of traders stuck waiting to see what their firm does next.
Whether the move ends up being smart or a complete disaster is something that will only become clear over time. Right now it’s simply a headache for firms who built their entire offering around ProjectX, and a slap in the face for traders who feel they’re being dragged along for a ride nobody asked for.
