The Upside
Funding, a Hong Kong-registered prop firm, rolled out a redesigned brand and
website to mark almost 12 months since launch, trying to position itself
against a backdrop of sector turbulence that saw dozens of competitors exit the
market in the last two years.
The
firm, launched in early
2025 by Charles Finkelstein, former Country Treasurer at Citibank Australia, and his team of
ex-Citi managing directors, operates in a prop trading sector that continues to
see significant attrition. The refresh comes as the company transitions from
its startup phase into what it calls an “established presence” in the
challenge-based trading space.
“We
entered this market because we saw a fundamental gap between what retail
traders were being offered and what we knew was possible from our years at
institutional level,” Finkelstein said in a statement.
Institutional Background
in Retail Market
The
company’s founders bring backgrounds from Citibank’s trading and treasury
operations, where Finkelstein worked for over 30 years across Hong Kong,
Australia, and London. He served more than half that time as managing director
and head of G10 Risk Treasury for the Asia-Pacific region before departing in
2023.
According
to the press release, the Upside Funding uses proprietary hedging
infrastructure and risk protocols that mirror systems typically deployed at
investment banks, according to the company.
The company
claims that approach distinguishes it from competitors founded by retail
traders or marketing professionals, though the firm still operates
challenge-based evaluations in simulated trading environments like most prop
trading companies.
The firm
offers traders capital allocation across multiple account sizes and asset
classes, with profit splits reaching 90%. Its most notable feature remains the
potential for top performers to qualify for salaried positions paying up to
$350,000 annually, a structure uncommon in the primarily commission-based
sector.
Sector Consolidation
Continues
The rebrand
arrives during continued
consolidation across prop trading, with estimates suggesting 80 to 100 firms disappeared from the market
in 2024 alone. Recent weeks saw FundingTicks begin winding down operations
after cutting profit shares and imposing new trading restrictions.
The sector has
shown geographic variations in profitability, with South Asian markets allowing firms to
break even in roughly one month compared to six months in the United States.
Industry trackers like Prop Firm Match recorded
approximately $325 million in total payouts to traders in 2025, with FundedNext leading at nearly
$108 million.
This article was written by Damian Chmiel at www.financemagnates.com.
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