PropFirmWay

Prop Firms With a Licence

Firms with a financially licensed company in their group - and what that licence does, and does not, mean for you.

Licences last checked 19 September 2026

A licence in the group is not a licensed challenge

  • The licence usually belongs to another company. Most often it is a broker in the same group. The challenge is sold by a separate company - the one in your terms - and that is who you contract with and who owes you payouts.
  • Your challenge is not a regulated product. Evaluations run on simulated capital, and the firms themselves say so. A regulator's protections - compensation schemes, client-money rules - do not cover your fee or your payouts.
  • It still adds to reliability. A licensed group has had its owners, capital and systems checked by a regulator, reports to it, and has a licence it would not risk over customer disputes. That makes the business behind the brand more identifiable and accountable.

Offshore licences (Mauritius, Seychelles, and the brokerage licences of Anjouan and Mwali in the Comoros) come with much lighter supervision than the FCA, ASIC or NFA. Compiled from the firms' own statements and, where they could be read, the regulators' registers, as of 19 September 2026. Check the licence in the regulator's register before relying on it.

15 firms list a financial licence - 12 of them through another company in their group. Firms with a top-tier regulator come first. Firms with no licence, or no statement about one, are not listed.

F

FTMOCzech Republic

You buy from: FTMO Evaluation Global s.r.o.

  • Top-tier regulatorHeld by a group company

    Commodity Futures Trading Commission (CFTC) / National Futures Association (NFA) - Futures Commission Merchant and Retail Foreign Exchange Dealer

    Licence
    NFA ID 0325821
    Holder
    OANDA Corporation
    Firm's statement
  • Top-tier regulatorHeld by a group company

    Financial Conduct Authority (FCA) - Authorised and regulated investment firm

    Licence
    FRN 542574
    Holder
    OANDA Europe Limited
    Firm's statement
  • Top-tier regulatorHeld by a group company

    Australian Securities and Investments Commission (ASIC) - Australian Financial Services Licence

    Licence
    AFSL 412981
    Holder
    OANDA Australia Pty Ltd
    Firm's statement

The firm states its evaluation business is not regulated (its statement).

Full FTMO profile →
T

ThinkCapitalUnited Kingdom

You buy from: TFG (PAYMENTS) LIMITED

  • Top-tier regulatorHeld by a group company

    Australian Securities and Investments Commission (ASIC) - Australian Financial Services Licence

    Licence
    AFSL 424700
    Holder
    TF Global Markets (Aust) Pty Limited
    Firm's statement
  • Offshore licenceHeld by a group company

    Financial Services Authority (FSA) Seychelles - Securities dealer

    Licence
    SD060
    Holder
    TF Global Markets Int Limited
    Firm's statement

The firm states its evaluation business is not regulated (its statement).

Full ThinkCapital profile →
T

TopstepUnited States

You buy from: Topstep LLC

  • Top-tier regulatorHeld by a group company

    CFTC (registration) / NFA (membership) - Introducing Broker (CFTC-registered), NFA Member

    Licence
    NFA ID 0567079
    Holder
    Topstep Brokerage LLC
    Firm's statement

The firm states its evaluation business is not regulated (its statement).

Full Topstep profile →
T

TradeifyUnited States

You buy from: Tradeify Holdings, Corp.

  • Top-tier regulatorHeld by a group company

    CFTC (registration) / NFA (membership) - Introducing Broker (guaranteed IB), NFA Member

    Licence
    NFA ID 0575972
    Holder
    Tradeify Brokerage LLC d/b/a Slay Markets
    Firm's statement

The firm states its evaluation business is not regulated (its statement).

Full Tradeify profile →
Q

QT FundedUnited Kingdom

You buy from: Quant Tekel LLC Limited

  • National regulatorHeld by a group company

    Financial Sector Conduct Authority (FSCA) - Financial Services Provider (FAIS) - brokerage/CFD services

    Licence
    FSP 53227
    Holder
    Quant Tekel (Pty) Ltd
    Firm's statement

The firm states its evaluation business is not regulated (its statement).

Full QT Funded profile →
F

FundingPipsUnited Arab Emirates

You buy from: FundingPips Corp

  • Offshore licenceHeld by the firm's own company

    Mwali International Services Authority (MISA), Mohéli - International Brokerage and Clearing House License

    Licence
    BFX2024004
    Holder
    FundingPips Corp
    Firm's statement
  • Offshore licenceHeld by a group company

    Financial Services Commission (FSC) Mauritius - Investment Dealer

    Licence
    GB25204266
    Holder
    Tradin
    Firm's statement

The firm states its evaluation business is not regulated (its statement).

Full FundingPips profile →
F

FXIFYUnited Kingdom

You buy from: FXIFY Solutions Limited

  • Offshore licenceHeld by a group company

    Financial Services Commission (FSC) Mauritius - Investment Dealer

    Licence
    GB24204066
    Holder
    Prime Intermarket Group Eurasia Ltd
    Firm's statement

The firm states its evaluation business is not regulated (its statement).

Full FXIFY profile →
H

Hola PrimeMauritius

You buy from: Hola Prime Limited

  • Offshore licenceHeld by a group company

    Financial Services Commission (FSC) Mauritius - Investment Dealer (Full Service Dealer, excluding underwriting)

    Licence
    GB24203729
    Holder
    Hola Prime Ltd Mauritius
    Firm's statement

The firm states its evaluation business is not regulated (its statement).

Full Hola Prime profile →

Prop firm licences: common questions

Is a prop firm with a licence regulated?

Usually not the part you deal with. The licence normally belongs to a broker in the same group, while the challenges are sold by a separate, unlicensed company - the one named in your terms. An evaluation on simulated capital is not a regulated product in most countries, so a regulator's protections (compensation schemes, client-money rules) do not cover your fee or your payouts.

Then why does a licence matter?

It is an extra sign of substance. To hold it, the group had its owners, capital and systems checked by a regulator, reports to that regulator, and has a licence it would not want to lose over a dispute with customers. That makes the business behind the brand more identifiable and more accountable than one with no licence anywhere.

Who do I sign the contract with?

The company named in the firm's terms and conditions - shown on each card here as "You buy from". Check it before you pay: that company, not the licensed one, owes you your payouts.

Are all licences equal?

No. Regulators such as the FCA, ASIC or the NFA supervise closely; offshore licences - Mauritius, Seychelles, and particularly the brokerage licences of Anjouan or Mwali in the Comoros - involve much lighter oversight. Each licence here is labelled accordingly.

How can I check a licence?

Search the licence number or company name in the regulator's own register - the FCA register, ASIC Connect, NFA BASIC, or the register of the authority named. Be careful with offshore regulators: several lookalike websites imitate them.

How many prop firms have a licensed company in their group?

15 of the firms we track list a financial licence; for 12 of them it is held by another company in the group, not the one selling the challenges. See the list above, or compare prop firms side by side.

Prop Firms With a Licence (2026) - and What It Covers | PropFirmWay