Closed
Propel Capital is closed (since 19 Aug 2025)
On 19 Aug 2025, CEO Mitchell Ali posted on X that he had decided 'to wind down Propel Capital as you know it'. He cited heavy competition and said the firm would 'remove ourselves from the market with immediate effect', according to FX News Group.
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Is Propel Capital shut down?
On 19 Aug 2025, CEO Mitchell Ali posted on X that he had decided 'to wind down Propel Capital as you know it'. He cited heavy competition and said the firm would 'remove ourselves from the market with immediate effect', according to FX News Group.
What happened to Propel Capital
Propel Capital, a London firm, was founded about 14 months before closing. On 19 Aug 2025 it stopped processing payments and halted all trading activity. It said it would wait a few weeks to see whether anyone wanted to continue the brand and then offer refunds to those who qualify. FNG reported that the website was down that day. On 31 Oct 2026 the domain showed only a 'verify you're human' gate, and the site certificate failed validation in a direct fetch.
Website today: Only a 'Verification / Security check, Checking your browser' gate loaded. The direct fetch failed with a certificate error, and no product pages were reachable.
If you had an account with Propel Capital
In its statement, Propel said refunds would be offered 'to those who qualify', with updates via Discord, X and email, per FX News Group.
General steps: keep your order receipts, account IDs and emails; if you paid by card, ask your card issuer about a chargeback (time limits apply); report losses to your local regulator or consumer agency. PropAnalyse cannot recover funds.
Active cfd prop firms instead
Ranked by PA Score among active firms of the same account type. Firms with a caution are left out.
FAQ
Is Propel Capital shut down?
Yes. On 19 Aug 2025, CEO Mitchell Ali posted on X that he had decided 'to wind down Propel Capital as you know it'. He cited heavy competition and said the firm would 'remove ourselves from the market with immediate effect', according to FX News Group. We list it as closed since 19 Aug 2025; status checked 31 Oct 2026.
When did Propel Capital close?
19 Aug 2025. On 19 Aug 2025, CEO Mitchell Ali posted on X that he had decided 'to wind down Propel Capital as you know it'. He cited heavy competition and said the firm would 'remove ourselves from the market with immediate effect', according to FX News Group.
What does the Propel Capital website show now?
Only a 'Verification / Security check, Checking your browser' gate loaded. The direct fetch failed with a certificate error, and no product pages were reachable.
Can I still get my money back from Propel Capital?
In its statement, Propel said refunds would be offered 'to those who qualify', with updates via Discord, X and email, per FX News Group. PropAnalyse cannot recover funds.
What are alternatives to Propel Capital?
Active firms of the same account type, ranked by PA Score: The5ers, City Traders Imperium, FTMO, FundingPips. Check each firm's own rules before you buy.
Sources
What each source said, as read on 31 Oct 2026. We report these sources; we do not make findings of our own.
- Another Prop Trading firm shut: Propel CapitalFX News Group (fxnewsgroup.com) · 19 Aug 2025
Today, I have made the extremely difficult decision to wind down Propel Capital as you know it. ... We will no longer be processing any payments, and all trading activity will be halted.