The proptrading industry has just witnessed its most dramatic shake-up yet. Over thepast year, between 80 and 100 proprietary trading firms have shut down,challenge pass rates have plummeted, and the average trader’s investment hasdropped by 50%. Yet, amid the chaos, a few dominant players are emergingstronger than ever.Even 100 Prop Firms Gonein 2024Accordingto estimates gathered by Finance Magnates Intelligence, between 80 and100 proprietary trading firms may have disappeared from the market in 2024. This aligns with data presented by FunderPro mid-year, which estimated that the number had already reached around 50 firms at that time.At theheart of this upheaval is a single industry-altering event—MetaQuotes' decisionto step back from supporting prop firms. This move sent shockwaves through themarket, forcing traders and firms to rethink their strategies, diversifyplatforms, and ultimately accelerate industry consolidation.“I expectmany more prop firms to close, cease or halt operations and/or find themselveson the wrong end of lawsuits and social media attacks,” Justin Hertzberg, theCEO of FPFX warned.The numberstell the story. 300,000prop trading accounts analyzed by FPFX Tech reveal a fundamental shift intrader behavior. While MetaTrader 5 still holds a 61.9% market share,alternative platforms like cTrader, DXtrade, MatchTrader, and TradeLocker haveseized the opportunity, reshapinga once-monopolized space.But here’sthe real shocker: as dozens of firms collapsed, oneof the largest prop firms just acquired a major FX/CFD broker. Theconsolidation is happening fast, and only the strongest are surviving.Meanwhile,pass rates have fallen, and payouts have tightened—suggestingan industry favoring survival over speculation. The profile of the "average prop trading Joe" has changed, and we have the data:Is proptrading still the high-growth phenomenon it once was? Who are the winners andlosers in this shifting landscape? And what does this mean for retail traders?Find outin the Finance MagnatesQuarterly Industry Report, where we break down the data, the trends, andthe next big moves shaping prop trading in 2025.This article was written by Damian Chmiel at www.financemagnates.com.