Prop trading firm Propel Capital has shut down just 14months after its launch, saying competition in the industry has made operationsunsustainable. The company’s website has also gone offline.Fierce Competition CitedIn an announcement posted on X, the company's Founder and CEO Mitchell Ali said the decision followedmonths of mounting pressure as rival prop firms cut prices and loosened tradingrules to attract clients. The company has promised more updates on Discord Channel, X Page,and through email. Official Announcement: Please read pic.twitter.com/FFp4xixsKl— PropelCapitalUK (@PropelCapitalUK) August 19, 2025“The sheer volume of competition in the market has led us toa position where I believe that scaling the business would go against our goalof sustainability,” Ali said. “As you have probably noticed, firms across theindustry have significantly increased their offerings, with higher discountsand relaxed rules. I do not believe we can compete with these offerswithout selling evaluations at a loss, whichwe refuse to do.”The company has promised refunds to clients “who qualify,” saying it will wait for a few weeks to see if another individual or corporation will continue with the brand. “We will no longer be processing any payments, and all trading activity will be halted,” the announcement mentioned.Expect ongoing updates as this story evolves.This article was written by Jared Kirui at www.financemagnates.com.