Firm Discontinued
Seacrest Markets permanently closed its prop trading operations in February 2026. This page is maintained for historical reference only. No new challenges, payouts, or cashback claims are being processed.
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Seacrest Markets
Total Paid Out
$56M+
Traders
400K+
Established
2022
Our Review
Seacrest Markets Review 2026: A Prop Firm That Closed Its Doors
Seacrest Markets, formerly known as MyFundedFX (MFFX), was a broker-backed proprietary trading evaluation firm that operated from June 2022 until February 6, 2026. Founded by Matt Leach in Dallas, Texas, the firm distributed over $56 million in payouts to more than 500,000 traders across 190+ countries before pivoting entirely to CFD brokerage under FSCA regulation in South Africa.
Challenge Structure
Seacrest Markets offered three distinct evaluation programs. The 1-Step Challenge required a 10% profit target with...
At a Glance
Trading Rules
Key Numbers
Programs & Pricing
| Program | Size | Fee | Phase 1 | Phase 2 | Daily DD | Total DD | Split |
|---|---|---|---|---|---|---|---|
| 1-Step $5K Challenge | $5,000 | $50 | 10% | — | 4% | 6% | 80% |
| 3-Step $5K Challenge | $5,000 | $40 | 6% | 6% | 4% | 8% | 80% |
| 2-Step $5K Challenge | $5,000 | $50 | 8% | 5% | 5% | 8% | 80% |
| 2-Step $10K Challenge | $10,000 | $100 | 8% | 5% | 5% | 8% | 80% |
| 1-Step $10K Challenge | $10,000 | $100 | 10% | — | 4% | 6% | 80% |
| 3-Step $10K Challenge | $10,000 | $70 | 6% | 6% | 4% | 8% | 80% |
| 2-Step $25K Challenge | $25,000 | $200 | 8% | 5% | 5% | 8% | 80% |
| 1-Step $25K Challenge | $25,000 | $200 | 10% | — | 4% | 6% | 80% |
| 3-Step $25K Challenge | $25,000 | $165 | 6% | 6% | 4% | 8% | 80% |
| 1-Step $50K Challenge | $50,000 | $300 | 10% | — | 4% | 6% | 80% |
| 3-Step $50K Challenge | $50,000 | $250 | 6% | 6% | 4% | 8% | 80% |
| 2-Step $50K Challenge | $50,000 | $300 | 8% | 5% | 5% | 8% | 80% |
| 2-Step $100K Challenge | $100,000 | $500 | 8% | 5% | 5% | 8% | 80% |
| 1-Step $100K Challenge | $100,000 | $500 | 10% | — | 4% | 6% | 80% |
| 3-Step $100K Challenge | $100,000 | $425 | 6% | 6% | 4% | 8% | 80% |
15 programs available
Partnership Status Notice
Seacrest Markets is not currently an active partner with PropFirmScan and has not completed our current verification process. While we maintain this listing for informational and comparison purposes, we cannot offer cashback or guarantee the accuracy of all details.
We recommend exploring our verified active partners who have completed our rigorous vetting process and offer exclusive cashback rewards.
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Withdrawal Methods
Payment Methods
Pros & Considerations
Strengths
- Competitive profit splits up to 92.75% — among the highest in the industry
- Fast payouts, often within 24 hours or minutes, with $56M+ total payouts processed since June 2022
- No time limits on challenges, reducing pressure compared to deadline-based firms
- Multiple challenge options: 1-Step, 2-Step, and 3-Step evaluations with sizes from $5K to $300K
- Diverse tradable instruments: 175+ across forex, indices, commodities, energies, and crypto including weekend trading
- Excellent customer support — consistently highest-rated aspect in reviews
- Large active community: Discord 125K+ members, 154K X/Twitter followers, 59K Instagram
- Structured scaling plan to $1M with 25% balance increases and no stricter rules at higher levels
Considerations
- Abrupt shutdown of prop trading operations in February 2026, leaving traders scrambling for refunds
- Frequent rule changes including controversial consistency rule reversed within two weeks after backlash
- Conservative leverage capped at 1:30 forex (lower than competitors at 1:50)
- Multiple rebrandings (MyFundedFX → SeacrestFunded → Seacrest Markets) caused confusion and US client restriction
- Platform instability and forced migrations from MT4/MT5 to DXTrade and MatchTrader
- Limited payment/withdrawal methods — primarily crypto (USDT TRC20) or Riseworks only
- Trustpilot rating suspended for fake reviews and guideline breach
- Unregulated as a prop firm — only the brokerage held a South Africa license
Seacrest Markets began its journey in June 2022 as MyFundedFX (MFFX), founded by Matt Leach in Dallas, Texas. Leach, who started trading in 2018, previously worked as a Senior Consultant at KPMG US and as a Consultant at Accenture. He launched the firm to provide accessible funded trading opportunities to retail traders worldwide.
The firm grew rapidly, expanding from its Dallas origins to establish a multi-jurisdictional corporate structure. MyFunded Capital (HK) Ltd was registered in Hong Kong, while MyFunded Capital Solutions Ltd and MyFunded Capital Holdings Ltd were incorporated in Cyprus in late 2023. The pivotal move came with the acquisition of FSCA-regulated Seacrest Markets (PTY) Ltd in South Africa (FSP 53315), enabling the firm to operate under regulatory oversight.
By 2025, the firm had rebranded from MyFundedFX to Seacrest Markets, reflecting its merger with the South African brokerage entity. The rebrand coincided with the introduction of MT5 for non-US clients and expansion to 190+ countries. At its peak, the firm boasted over 500,000 registered traders and a Discord community exceeding 131,000 members.
On February 4, 2026, Seacrest Markets made the landmark decision to shut down all proprietary trading operations, effective February 6, 2026 — becoming the first major prop firm to fully transition to a regulated CFD brokerage model. The move ended 3.5 years of prop trading that generated $56 million+ in payouts across 32,842 transactions. The firm cited the sustainability challenges of the challenge-fee model as motivation for the pivot. Matt Leach continues to operate MyFunded Futures (futures prop trading) and other ventures separately.
Partnership Status Notice
Seacrest Markets is not currently an active partner with PropFirmScan and has not completed our current verification process. While we maintain this listing for informational and comparison purposes, we cannot offer cashback or guarantee the accuracy of all details.
We recommend exploring our verified active partners who have completed our rigorous vetting process and offer exclusive cashback rewards.
View Active PartnersFrequently Asked Questions About Seacrest Markets
Seacrest Markets Video Review
Latest News & Updates
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Partnership Status Notice
Seacrest Markets is not currently an active partner with PropFirmScan and has not completed our current verification process. While we maintain this listing for informational and comparison purposes, we cannot offer cashback or guarantee the accuracy of all details.
We recommend exploring our verified active partners who have completed our rigorous vetting process and offer exclusive cashback rewards.
View Active PartnersPayouts
Withdrawal Methods
Payment Methods