Nexgen ProTrader Funding Announces Permanent Cessation of Operations
Nexgen ProTrader Funding Announces Permanent Cessation of Operations
Nexgen ProTrader Funding has officially announced the cessation of its operations due to financial insolvency. According to the statement, the firm was unable to recover after losing its credit card processing capabilities last August, which has exhausted its available capital reserves.
Effective October 1, 2026, at 5:00 PM ET, the platform will stop selling evaluation accounts, funded accounts, Semi-Live programs, and resets. At that time, CME live data will be disconnected, and all accounts will be disabled for trading. The community Discord server will also be closed.
Settlement for Approved Payouts
Nexgen has confirmed that remaining funds are insufficient to cover all outstanding approved payouts in full. To manage this, the company will offer each trader with a pending payout a percentage-based settlement agreement of the total amount owed. Affected users will receive individual communications detailing the offered amount and instructions to accept the payment.
Semi-Live Accounts and Transition to Legends Prop Firm
Active Semi-Live accounts will not receive refunds. Instead, Nexgen has established a transition program with Legends Prop Firm. Eligible traders will receive a complimentary "Elite" account of comparable value at the new firm. Credentials and rules for these new accounts will be sent directly by Nexgen or Legends Prop Firm.
Refunds for Evaluation Accounts
Users with active evaluation accounts will not be transitioned to Legends. Instead, the company plans to refund the purchase price of these accounts. This process will be subject to a final reconciliation to determine which accounts meet the eligibility requirements for a refund.
Live Cash Accounts and Affiliates
Live Cash accounts will be closed and reconciled through GFF Brokerage. The firm ensures that profit shares corresponding to these traders will be paid. Meanwhile, affiliates will receive specific instructions regarding the steps to follow for the settlement of their balances.
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