Russia’s central bank has sold 21.8 tonnes or 22,000 kilograms of gold so far in 2026 to help fund the country’s widening budget deficit, which had reached $61.2 billion by the end of March, a Kitco report said, citing Russian and Ukrainian news.

Gold reserves stood at 2,304.76 tonnes as of April 1, 2026, reflecting a decline of 6.22 tonnes in March alone, the central bank said on Monday.

At the same time, domestic demand for gold has surged as the economy faces continued strain in the fifth year of the war with Ukraine. Data from the Moscow Exchange showed gold trading volumes in March jumped more than 350% year-on-year to 42.6 tonnes, including 28.6 tonnes in swap deals and 14 tonnes in spot trades. In value terms, the increase was even sharper due to the weakening ruble, with volumes rising 500% from a year ago to 534.4 billion rubles, or $7.1 billion.

Russia had built up its gold reserves steadily between 2002 and 2025, acquiring more than 1,900 tonnes over the period. This included purchases of just over 500 tonnes between 2008 and 2012, and around 1,200 tonnes between 2014 and 2019. Since 2020, however, net purchases have slowed significantly to about 55.4 tonnes, according to Finam analyst Nikolai Dudchenko.

Experts say several central banks are currently selling gold to cover rising expenses, including defence spending, higher energy costs, and measures to support domestic currencies.

Earlier this year, on February 20, Russia’s central bank said it had sold 3,00,000 ounces of gold in January as prices climbed above $5,500 per ounce. This reduced total holdings to 74.5 million ounces and marked the first decline since October. With average prices around $4,700 per ounce in January and peaks near $5,600, the sale is estimated to have generated between $1.41 billion and $1.68 billion.
Despite these sales, the overall value of Russia’s gold reserves rose 23% in January to $402.7 billion, supported by record-high prices.Separately, Bloomberg reported that Russia’s precious metals exports to China nearly doubled in value during the first half of 2025. Chinese imports of Russian precious metal ores and concentrates, including gold and silver, rose 80% year-on-year to $1 billion, driven partly by higher bullion prices, which gained about 28% during the period amid geopolitical tensions and strong demand from central banks and exchange-traded funds.

Russia remains the world’s second-largest gold producer after China, with annual output exceeding 300 tonnes. While its central bank was once among the largest buyers of gold, purchases have declined since the full-scale invasion of Ukraine in 2022. In contrast, the People’s Bank of China continues to be one of the most active buyers.

Exports of Russian gold to China have increased in volume terms, though a significant portion of the rise reflects the sharp rally in prices, with spot gold up nearly 43% over the past year.
Domestic consumption has also been strong. Russian consumers bought a record 75.6 tonnes of gold in 2024, accounting for roughly 25% of the country’s annual production, as households turned to precious metals to protect their savings.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Rodney Benson, a media professor at New York University, called the deal “concerning”, would leave America’s largest media companies further concentrated in the hands of conservatives. Many of those owners, including the Ellison family, have separate, non news-related business interests that depend on government contracts or regulation and are therefore particularly vulnerable to pressure, he adds.

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Q1: 2026-04-22 Earnings Summary

EPS of $0.51 beats by $0.03

 | Revenue of $74.54M (8.40% Y/Y) beats by $562.00K

Horizon Bancorp, Inc. (HBNC) Q1 2026 Earnings Call April 23, 2026 8:30 AM EDT

Company Participants

Todd Etzler – Executive VP, Chief Legal and Risk Officer & Corporate Secretary
Thomas Prame – CEO, President & Director
Lynn Kerber – Executive VP & Chief Commercial Banking Officer
John Stewart – CFO & Executive VP

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Conference Call Participants

Brendan Nosal – Hovde Group, LLC, Research Division
Brandon Rud – Stephens Inc., Research Division
Nathan Race – Piper Sandler & Co., Research Division
Damon Del Monte – Keefe, Bruyette, & Woods, Inc., Research Division
Brian Martin – Brean Capital, LLC, Research Division

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Presentation

Operator

Good morning, everyone, and welcome to the Horizon Bancorp conference call to discuss the financial results for the first quarter of 2026.

[Operator Instructions]

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Now, I will turn the call over to Mr. Todd Etzler, Executive Vice President, Corporate Secretary and General Counsel, for the opening introduction. Please go ahead.

Todd Etzler
Executive VP, Chief Legal and Risk Officer & Corporate Secretary

Good morning, and welcome to our conference call to review Horizon’s first quarter results. Please remember that today’s call may contain statements that are forward-looking in nature.

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These statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those discussed, including those factors noted in the slide presentation.

Additional information about factors that could cause actual results to differ materially is contained in Horizon’s most recent Form 10-K and its later filings with the Securities and Exchange Commission.

In addition, management may refer to certain non-GAAP financial measures that are intended to help investors understand Horizon’s business. Reconciliations for these measures are contained in the presentation.

The company assumes no obligation to update any forward-looking statements made during the call. For anyone who does not already have a copy of the press release and supplemental

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U.S. stocks fell in choppy trading on Thursday as hopes dimmed for a quick end to the Iran war, while investors grappled with a mixed bag of earnings reports as concerns resurfaced about AI-driven disruption across the software sector.

Equities had been holding near unchanged after Iran tightened control over the Strait of Hormuz. Tehran released footage of its commandos storming a huge cargo ship they claimed to have seized, while demanding the U.S. lift its naval blockade on Iranian ports.

Stocks ‌weakened after reports that ⁠Iran’s Parliament ⁠Speaker Mohammad Bagher Ghalibaf had resigned from the negotiating team. Losses were extended as oil prices shot higher after reports of air attacks in Iran.

Iran’s Fars news agency said the air defenses were activated due to small drones at several locations across the country.

“We’re playing musical chairs between earnings season and these war headlines that are not likely to be that great,” said Jay Hatfield, CEO and CIO of Infrastructure Capital Advisors in New York.

“We had a big run, and there are people looking to take some exposure off, and using the war as an excuse is not a bad excuse.”
Markets had rallied in recent weeks on hopes a resolution to the Iran war was on the horizon, along with ⁠expectations of solid corporate ‌earnings. But gains have been harder to come by this week. On Monday, the Nasdaq snapped a 13-session streak of gains as optimism faded for a resolution to the war.

Oil prices holding near $100 a barrel also kept fears of rising inflation ⁠in focus.

According to preliminary data, the S&P 500 lost 29.86 points, or 0.42%, to end at 7,108.04 points, while the Nasdaq Composite lost 218.14 points, or 0.88%, to 24,439.42. The Dow Jones Industrial Average fell 182.45 points, or 0.36%, to 49,313.27.

Data on Thursday showed weekly initial jobless claims increased only marginally last week, but risks from higher prices due to the war could hamper the economy.

S&P Global’s flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, increased this month after almost stagnating in March, but the improvement was largely due to what it said was “stock building in the face of concerns over supply availability and price hikes.”

PACKED EARNINGS CALENDAR IN FOCUS

The earnings season has been largely strong so far, with 82.1% of the 123 companies ‌that have reported earnings through Thursday morning topping analyst expectations, according to Tajinder Dhillon, head of earnings research at LSEG. The earnings growth rate of 15.6% is up from the 14.4% at the start of the month.

The S&P 500 tech index was the worst performing of the 11 major S&P sectors, ⁠weighed down in part by a drop in IBM after revenue growth slowed in the first quarter on weakness in its software business.

Also weighing on the sector was a plunge in ServiceNow after it reported quarterly results and said revenue growth was dented by delays in closing government deals in the Middle East.

The results reawakened concerns that the software sector’s traditional business models could be upended by new AI tools, and the S&P 500 software and services index dropped about 5% on the session.

Tesla shares fell after the company raised its spending plan to more than $25 billion for the year.

Car-rental company Avis Budget’s shares plummeted about 50% and recorded their steepest two-day drop ever, after a meteoric rally that was reminiscent of the “meme-stock” craze.

On the flip side, Texas Instruments surged after forecasting second-quarter revenue and profit above Wall Street expectations.

NEW YORK — Taylor Swift has solidified her status as the undisputed queen of streaming, becoming the most-streamed artist of all time on Spotify with more than 120 billion career streams as of April 2026.

The global pop powerhouse surpassed all competitors, including heavyweights like Drake and Bad Bunny, cementing a record that underscores her unparalleled dominance in the digital music era. Spotify data and industry trackers confirm Swift leads with approximately 122.6 billion total streams across her catalog, a staggering figure that continues to climb daily.

Swift’s lead streams alone exceed 120 billion, with featured appearances adding millions more. She boasts over 500 tracks on the platform, many of which have crossed the billion-stream milestone individually. As of late April, her total sits at roughly 123.8 billion streams according to real-time trackers.

This milestone arrives amid Swift’s continued cultural reign. Her 2025 album “The Life of a Showgirl” shattered single-day streaming records upon release, and 2026 tracks like “The Fate of Ophelia” and “Opalite” dominate global charts. The singer-songwriter maintains over 100 million monthly listeners, keeping her firmly in the platform’s elite tier.

Industry analysts attribute Swift’s streaming supremacy to a potent mix of factors: an enormous, loyal fanbase known as Swifties; strategic catalog management including Taylor’s Version re-recordings; consistent high-quality output; and cross-generational appeal that spans casual listeners and die-hard devotees.

“Taylor has mastered the art of turning every release into a cultural event,” said one music executive familiar with streaming metrics. “Her re-recordings not only reclaimed her masters but also drove massive replay value across old and new fans alike.”

Swift first claimed the all-time crown in recent years and has widened the gap steadily. She overtook previous leaders through a combination of blockbuster album rollouts, Eras Tour afterglow, and viral moments that keep her music in constant rotation on playlists worldwide.

For context, second-place Drake sits around 98-100 billion streams, while Bad Bunny follows closely behind. Swift’s advantage is particularly impressive because she leads primarily through lead artist credits rather than abundant features, unlike many rap and Latin stars who rack up streams via collaborations.

Her 2023 and 2024 Spotify Wrapped dominance carried into 2025, though Bad Bunny reclaimed the yearly global top spot for 2025 with strong Latin market performance. Yet Swift’s cumulative total remains untouchable, and she continues leading female artist streams by a wide margin.

Swift’s Spotify success reflects broader industry shifts. Streaming now accounts for the vast majority of music revenue, rewarding artists who build deep catalogs and engaged communities. The 36-year-old superstar has released multiple albums since her 2006 debut, with peaks during the 2020s “Taylor Swift renaissance” fueled by “Folklore,” “Evermore,” “Midnights,” “The Tortured Poets Department” and “The Life of a Showgirl.”

Key hits like “Cruel Summer,” “Anti-Hero,” “Blank Space” and newer singles routinely surpass hundreds of millions of streams each. As of early 2026, Swift became the first female artist to eclipse 116 billion total streams, a barrier she has since blown past.

Spotify itself has celebrated Swift’s achievements repeatedly. The platform frequently highlights her record-breaking days, weeks and album debuts. Features such as “The Fate of Ophelia” from her latest project broke single-week streaming records, while full albums generate massive opening-day numbers that ripple through global charts.

Beyond raw numbers, Swift’s impact extends to playlist curation, algorithmic boosts and cultural conversations. Her music appears on everything from Today’s Top Hits to personalized Discovery Weekly mixes, ensuring sustained visibility even between major releases.

Critics and fans alike point to her storytelling prowess, melodic craftsmanship and relatable lyrics as reasons for enduring popularity. Unlike many artists whose streams peak early and fade, Swift’s catalog shows remarkable staying power, with older tracks gaining new life through TikTok trends, re-recordings and tour tie-ins.

Financially, the streaming milestone translates to significant earnings. While per-stream payouts are modest, volume at Swift’s scale generates hundreds of millions in royalties. Combined with touring, merchandise and other ventures, she remains one of the world’s highest-earning entertainers.

Swift’s team has embraced streaming as a core strategy while maintaining traditional album releases and physical sales. Vinyl editions of her records frequently sell out, creating a hybrid success model that many artists now emulate.

Looking ahead, expectations remain high. With potential new music, continued catalog growth and global fan engagement, Swift’s lead is likely to expand. Industry watchers predict she could reach 150 billion streams within the next couple of years if current trends hold.

The achievement also highlights Spotify’s evolution since launching in 2008. What began as a European startup disrupting the industry now serves as the primary metric for global artist success. Swift’s record stands as a testament to how streaming has democratized access while amplifying superstars who connect authentically with audiences.

Fellow artists have offered congratulations across social media, with many acknowledging Swift’s work ethic and business savvy. Fans flooded platforms with celebratory posts using hashtags like #TaylorSwiftSpotifyRecord and sharing screenshots of her climbing charts.

Spotify Wrapped campaigns and year-end lists routinely feature Swift prominently, further boosting her visibility. In the U.S., she often claims the top artist spot domestically even when global rankings fluctuate.

Challenges in the streaming landscape include algorithm changes, playlist competition and market saturation, yet Swift navigates them masterfully. Her direct connection with fans through social media, surprise drops and immersive live experiences keeps engagement elevated.

As music consumption shifts toward short-form video and AI-curated experiences, Swift’s adaptability positions her for continued leadership. Her influence extends beyond streams into fashion, film and philanthropy, making her a multifaceted cultural icon.

For emerging artists, Swift’s trajectory offers a blueprint: build a loyal base, control your narrative, diversify output and treat streaming as both revenue source and promotional engine.

Taylor Swift’s coronation as Spotify’s all-time most-streamed artist caps more than a decade of innovation and dominance. In an industry where relevance can be fleeting, she has proven longevity through talent, strategy and an unbreakable bond with millions of listeners worldwide.

As her streams tick upward by the millions each day, one thing remains clear: the Swift era is far from over. It is, in many ways, just hitting its streaming stride.

Getting access to trading capital without risking your own money is the promise every prop firm makes. The reality is more complicated. With thousands of firms operating globally and the majority of traders failing to reach payout stages, picking the wrong firm means wasted fees and frustration.

This ranking breaks down 5 prop trading firms for the UK traders based on what actually matters: fees, profit splits, drawdown rules, payout reliability, and platform options

5 Prop Firms for the beginners Ranked

Selecting the right prop firm requires looking beyond marketing claims. We assessed each firm that operates in the UK across six core areas that directly impact a trader’s success and experience.

• Challenge Fees and Refunds. We compared upfront costs and whether firms return fees after the first payout.
• Profit Split Structures. Higher splits mean more money in your pocket, but we also checked for hidden conditions.
• Drawdown Rules. Daily and maximum loss limits determine how much room you have to trade.
• Payout Frequency and Reliability. Consistent, timely payouts separate legitimate firms from problematic ones.
• Platform Availability. Access to familiar platforms like MetaTrader, cTrader, or TradingView matters for execution.
• Reputation. We reviewed verified user feedback on TrustPilot and trading communities for patterns in complaints or praise.

1. OneFunded

OneFunded

launched in 2024 under CEO Anastasiia Kaplunenko. Kaplunenko is a fintech professional who built the firm around a specific frustration: hidden rules, delayed payouts, and opaque evaluation conditions that made trading harder than it needed to be. The firm operates globally through OneFunded Capital Ltd., registered in Saint Lucia. Its UK operations are handled by Brynex Tech Limited in London.

Challenges and evaluation processes

You can choose among four challenge tracks on OneFunded, including Value, Core, Flex, and Flash. Each program is built around a different risk profile, but one rule applies to all four: no time limits of any kind.

Challenge Type	One-Off Fee	Account Sizes	Profit Target	Max Daily Drawdown	Max Total Drawdown	Min Trading Days
Value (2-Step)	$16-$137	$2K-$50K	6%/6%	4%	8%	4 per phase
Core (2-Step)	$45-$650	$5K-$200K	8%/5%	5%	10%	3 per phase
Flex (2-Step)	$54-$780	$5K-$200K	7%/4%	4%	10%	3 per phase
Flash (1-Step)	$29-$715	$2K-$200K	10%	4%	6%	5 total

 

The Value track starts at $16 for a $2,000 account. And for the Flex track, it is worth noting that it is the only track that carries no consistency rule during evaluation. This ensures that traders have more freedom in how their profits are distributed across days.

Spreads, fees, and payouts

Challenge fees translate to between $16 and $780. This means even the largest Flex account is accessible without a significant upfront commitment.

• Profit split: 80% to the trader as standard; upgradable to 90% via paid addon
• Spreads and commission: Viewable directly on the platform in demo mode before purchasing a challenge.
• Payout schedule: 14-day cycle; weekly payouts available via a paid addon. Minimum payout is $100 with 24 hour processing time.
• Payout methods: Crypto, bank transfer, and Rise.
• Fee refund: The challenge fee is refunded alongside your first payout

What you can trade and at what size

OneFunded provides access to 250+ instruments, including 55+ forex pairs, 150+ American and European stock CFDs, 15+ global indices and metals, and 15+ cryptocurrencies.

Asset Class	Leverage
Forex	1:100
Commodities and Indices	1:30
Cryptocurrencies	1:2

Trading software and tools

OneFunded supports three platforms, each available on web, desktop, iOS, and Android:

1. TradeLocker: Integrated with TradingView for charting. It is accessible globally, including the UK and suited to manual traders
2. cTrader: Available to the UK traders and offers advanced order execution and full market depth.
3. MT5: Available to the UK traders and supports automated trading through EAs and provides the widest analytical toolkit of the three platforms.

Rules every trader must follow

• Algorithmic trading: EAs are permitted but require pre-approval. Prohibited practices include latency arbitrage, reverse arbitrage, tick scalping, gap billing, data freezing, and the use of delayed or external data feeds.
• News trading: Permitted across all four tracks and in funded accounts. However, a 5-minute window applies around scheduled high-impact events.
• Weekend and overnight trading: Positions may be held overnight and over weekends but swap fees may apply.
• Consistency rule: Applies to Value (40% cap on best-day profit), Core (50%), and Flash (50%) during evaluation. The Flex track has no consistency rule although in the funded phase, a 30% cap applies across all tracks.

Reputation and trader experience

OneFunded holds a Trustpilot rating of 4.4/5 from 205 reviews. It has 64% five-star and 23% four-star ratings. Reviewers most consistently highlight the absence of time limits, fast crypto payouts, transparent rules, and responsive support.

The firm previously operated as Prop365 before rebranding, and several reviews reference continuity of service through that transition. Negative reviews focus mainly on a small number of consistency rule disqualifications and occasional KYC delays, both of which the firm addresses directly on Trustpilot. It has replied to 88% of negative reviews, typically within 48 hours.

The firm’s community is active on Discord, X, Facebook, and Instagram. And support is reachable via email at support@onefunded.com, chat, and through the contact page on the website.

Our assessment

OneFunded checks all the important boxes when looking for a prop firm that accepts UK traders. The entry fee is one of the lowest on this list, all four challenge tracks run on unlimited time, and payouts below $1,000 are processed in crypto by default, which is the most practical route for traders receiving foreign earnings. The rules are written plainly, the Flex track removes the consistency rule entirely, and the challenge fee comes back with the first payout.

It suits beginner traders who trade part-time, are making their first funded account attempt, or want a low-cost, low-pressure environment to build a consistent track record before moving to larger account sizes.

2. FTMO

FTMO has been operating from Prague, Czech Republic, since 2015. This is the longest-established firm in this guide and one of the most recognized names in funded trading globally. The firm runs two challenge tracks on unlimited timeframes and offers a free trial for traders to test the platform.

Challenges and evaluation processes

FTMO offers two paths to a funded account, both with no time limit on the evaluation.

Challenge Type	Fee from	Account Sizes	Target	Max Daily Loss	Max Loss	Min Trading Days	Avg. Reward	Fee Refund
2-Step	€89	$10K-$200K	10%/5%	5%	10%	4 per phase	Up to €12,234	Yes (100%)
1-Step	€79	$10K-$200K	10%	3%	10%	–	90% profit  split	No

Spreads, fees, and payouts

• Profit split: 80% standard on both tracks; 90% via the Scaling Plan once certain account growth milestones are reached.
• Spreads: Tight; major pairs like EURUSD regularly trade near 0.1 pips on MetaTrader during active sessions.
• Commission: All standard forex pairs carry a commission of $5 per lot per side ($10 round-trip).
• Payout schedule: Bi-weekly; average processing time of approximately 8 hours from request to completion.
• Payout methods: Bank wire, Skrill, crypto, and Visa Direct (up to $20,000)
• Scaling ceiling: Up to $2M through the Scaling Plan

What you can trade and at what size

FTMO covers forex, indices, commodities, metals, and cryptocurrencies across all accounts.

• Forex: Major, minor, and exotic pairs; leverage up to 1:100
• Indices: Global indices including US30, US100, US500, and EU equivalents; leverage up to 1:20
• Commodities and metals: Gold, silver, oil; leverage up to 1:10
• Cryptocurrencies: Bitcoin, Ethereum, and others; leverage up to 1:2

Trading software and tools

FTMO supports MetaTrader 4 and 5, and cTrader. All three platforms are available for both the 1-Step and 2-Step FTMO Challenges as well as funded FTMO Accounts, and can be selected directly in the challenge configurator.

Every FTMO account includes a built-in toolkit, which includes FTMO Academy, Psychology Course, Account MetriX performance tracker, Equity Simulator, Trading Journal, Economic Calendar, and News Indicator.

Rules every trader must follow

• Algorithmic trading: EAs are permitted on all accounts. The only restriction is a cap of 2,000 server requests per day per account.
• News trading: Unrestricted during both evaluation phases.
• Overnight and weekend holding: Permitted during evaluation on both tracks. On a funded Standard account, positions must be closed before the weekend market rollover.
• Gap trading: Prohibited.

Reputation and trader experience

FTMO holds a Trustpilot rating of 4.8/5 from 41,020 reviews. This is the highest review volume of any firm in this guide, and the most statistically reliable reputation signal as a result. Reviewers highlight transparent rules, fast payout processing, and responsive multilingual support. Negative reviews are rare and mostly relate to account closures for rule violations, which FTMO addresses publicly on Trustpilot.

The firm’s community spans Discord (116K+ members), YouTube (417K+ subscribers), Instagram (551K followers), X (139K followers), and Facebook (272K followers). Support is available 24/7 via live chat, WhatsApp, email at support@ftmo.com, and phone, in 20 languages.

Our assessment

FTMO’s strength is its track record and the tools it bundles with every account. A decade of consistent operation, over $500 million paid in rewards globally, and more than 41,000 Trustpilot reviews give it a credibility floor that newer firms cannot match. That matters if you are committing meaningful capital to a challenge fee.

That said, this firm suits experienced traders who prioritize a long operational history, built-in analytical tooling, and platform flexibility above all else.

3. RebelsFunding

RebelsFunding was founded in 2023 by Marek Soska and is headquartered in Bratislava, Slovakia. The founding team has been trading financial markets since 2008 and launched a trading education business in 2015 before creating RebelsFunding. The firm says on its website that it has distributed over $3 million in rewards to more than 30,000 traders globally. RebelsFunding offers the widest range of program tiers on this list.

Challenges and evaluation processes

Program	Phases	Fee	Account Sizes	Profit Target	Daily Drawdown	Max Drawdown	Fee Refund
Copper	4	From €9	$1K-$320K	5% per phase	5%	10%	200%
Bronze	3	From €37	$5K-$160K	5% per phase	5%	10%	150%
Silver	2	From €45	$5K-$80K	8%/5%	5%	10%	100%
Gold	1	From €68	$5K-$40K	10%	None during eval; 4% on funded	6%	–
Diamond	10-level	From €156	$5K-$20K initial; scales to $530K	10% per level	None	6%	100% after Level 0

Spreads, fees, and payouts

• Profit split: 75-90% across all programs; the starting rate and scaling conditions vary by tier.
• Spreads: The average spread on major forex pairs sits at around 0.9 pips, while top shares average between 0.5 and 1.0 pips. Across the full instrument range, spreads start from as low as 0.3 pips.
• Commission: RebelsFunding charges a flat $2 per $100,000 traded across all asset classes.
• Payout schedule: Your first withdrawal becomes available 14 calendar days after placing your first trade on the funded account. All further withdrawals can be submitted every 14 days.
• Payout methods: Bank wire transfer, crypto, PayPal, Wise, Revolut, Venmo (only for US-based traders), physical checks, and Credit/Debit Cards.
• Scaling: Account grows up to 200% of the initial value on Copper, Bronze, and Silver upon meeting profitability milestones; Diamond scales to $530K through 10 levels.

What you can trade and at what size

RebelsFunding covers the following asset classes:

• Forex: 40 pairs with 28 swap-free pairs
• Metals: 4 instruments, with 4 swap-free
• Energies: 2 instruments (WTI Oil and Natural Gas)
• Cryptocurrencies: 7 instruments including Bitcoin and Ethereum
• Equities: 10 individual stocks
• Indices: 8 instruments including NASDAQ and S&P 500

The minimum lot size across all instruments is 0.01 lots, and RebelsFunding requires consistent position sizing. And leverage is tiered; see the table below:

Asset Class	Evaluation Leverage	RCF (Funded) Leverage
Forex – Majors	1:200	1:100
Forex – Crosses	1:150	1:50
Forex – Exotics	1:100	1:25
Metals	1:25	1:15
Indices	1:25	1:15
Energies	1:5	1:5
Equities	1:2.5	1:2.5
Cryptocurrencies	1:2.5	1:2.5

Trading software and tools

RebelsFunding uses a single proprietary platform, RF-Trader, built on TradingView charts and connected directly to liquidity providers. It is available on web, desktop, iOS, and Android. The platform has a built-in lot size and dollar-risk calculator, which several reviewers specifically cite as useful for real-time position sizing. It also includes an AI Trader tool in the Client Zone that analyses your trading history and identifies strengths and weaknesses.

Rules every trader must follow

• Algorithmic trading: EAs are permitted across all programs
• News trading: Permitted across all programs; no restriction window stated
• Weekend trading: Positions can be held over weekends, but the firm cautions against it on cross pairs and less liquid instruments. And crypto trading is not available over weekends.
• Scalping: Permitted
• Overnight holding: Permitted on all programs

Reputation and trader experience

RebelsFunding holds a Trustpilot rating of 4.4/5 from 2,292 reviews, with 69% five-star and 15% four-star ratings. The firm replies to 96% of negative reviews, typically within 48 hours. Reviewers highlight affordable entry fees, fast payout processing, straightforward rules, and responsive support. The most recurring criticism across recent reviews is platform performance, specifically, slow load times on the RF-Trader app during peak market hours and periodic connectivity drops.

Our assessment

RebelsFunding’s fee refund model is a standout feature. Also, the range of five program tiers makes it one of the few firms on this list where a complete beginner and an experienced trader can both find a structurally appropriate starting point.

The firm suits traders who are confident in their pass rate and want the lowest net challenge cost over time. That is, the more programs you pass, the more of your fees come back.

4. CTI

City Traders Imperium has been funding traders since 2018 and operates from Dubai, UAE. It is the only firm in this guide that pays a monthly salary to its highest-performing funded traders. The firm offers four routes to funding and with a maximum allocation of $4 million.

Challenges and evaluation processes

All four programs run on unlimited time, and each carries a balance-based drawdown. This means losses are calculated against the account balance, not a floating equity high-water mark like many others. This gives traders more room to recover from open position drawdowns without breaching the limit.

Program	Entry Fee	Account Sizes	Profit Target	Max Daily Loss	Max Drawdown	Min Profitable Days
1-Step	From $27	$2.5K-$100K	8%	–	5%	3
2-Step	From $34	$2.5K-$100K	10%/5%	5% per phase	10% per phase	3 per phase
3-Step (Pay-per-level)	From $1 (Level 1 only)	$2.5K-$100K	3%/5%/7%	2% per step	4% per step	3 per step
Instant Funding	From $62	$2.5K-$80K (doubles on passing)	10% to scale	None	6%	None
Instant Funding Pro	From $263	$5K-$80K	10% to scale	None	6%	None

CTI also operates a VIP program that activates automatically as funded traders demonstrate consistent performance. This table provides the details:

VIP Tier	Profit Share	Payout Frequency	Additional Benefits
Bronze	90%	Weekly	30% discount on all future purchases, VIP support, free 1-on-1 coaching
Silver	100%	Any time, on demand	Free CTI merchandise, all Bronze benefits
Gold	100%	Any time, on demand	Potential 1-year monthly salary, institutional trading conditions, custom funding terms, team membership

Spreads, fees, and payouts

• Profit split: starts at 50% for Instant Funding (Level 1), 80% on evaluation programs from the first funded payout, and scales to 100% at Silver and Gold VIP tiers.
• Spreads: From 0.3 pips on EUR/USD
• Commission: $5 per lot round-turn on forex
• Payout schedule: Your first withdrawal becomes available after a minimum of 5 trading days on your funded account. In the VIP tier, payouts are weekly at Bronze, and any time on demand at Silver and Gold.
• Payout methods: Payouts are processed into a Personal Wallet inside the CTI dashboard and withdrawals are via bank wire transfer, cryptocurrency (USDT/TRX), Credit/Debit Card, PayPal.
• Scaling ceiling: $4 million through the VIP program

What you can trade and at what size

• Forex: 28 currency pairs; leverage 1:30 on evaluation accounts, 1:10 on Instant Funding
• Commodities: Gold, silver, and crude oil; leverage 1:10
• Indices: 13 global indices including US30 and DE40; leverage 1:10
• Cryptocurrencies: 6 assets including BTC/USD and ETH/USD; leverage 1:2

Trading software and tools

CTI supports MT5 and Match-Trader, both available across all platforms. In addition, traders get access to Account Metrix, Account Analysis, a Trading Journal, Risk Calculators, an Economic Calendar, and CTI Academy at no extra cost.

Rules every trader must follow

• Stop loss: Mandatory on every trade
• Copy trading: Prohibited across all programs and account types
• Gambling behavior: Prohibited
• News trading: Permitted across all programs without restriction
• Weekend and overnight holding: Permitted on all programs

Reputation and trader experience

CTI holds a Trustpilot rating of 4.3/5 from 1,683 reviews. 84% of the reviews are five-star and 9% four-star. The firm replies to 97% of negative reviews and typically within one week.

Positive reviews cite fast payouts (several reviewers report same-day processing), responsive multilingual support, and an easy-to-navigate dashboard. The recurring criticism is payout denials following what CTI characterizes as gambling behavior or stop-loss violations.

Our assessment

CTI’s strongest differentiator is the VIP program structure as a whole. The 3-Step pay-per-level program also removes one of the biggest barriers in prop trading, which is the psychological cost of paying a large upfront fee and failing early.

This firm suits disciplined traders who prefer manual processes and operate with defined risk parameters. These traders also want a clear, built-in progression toward higher payouts and better conditions without paying extra for each upgrade.

5. ThinkCapital

ThinkCapital is backed by ThinkMarkets, a broker regulated across multiple jurisdictions. The broker provides an infrastructure credibility that standalone prop firms cannot offer. Its rails support spreads, execution, and platform stability.

Challenges and evaluation processes

Program	Phases	Entry Fee (from)	Account Sizes	Phase 1 Target	Phase 2 Target	Phase 3 Target	Daily Loss	Max Loss
Lightning	1	$59	$5K-$100K	10%	—	—	3% (balance)	6% trailing
Dual Step Intraday	2	$59	$5K-$100K	9%	5%	—	4% (equity)	7% fixed
Dual Step Swing	2	$82	$5K-$100K	9%	5%	—	4% (balance)	7% fixed
Nexus	3	$39	$5K-$100K	7%	6%	5%	4% (balance)	8% fixed

 

All programs scale to $1 million on MT5 accounts and $1.5 million on ThinkTrader accounts. Every 10% return in a rolling three-month period triggers a 20% account size boost.

Spreads, fees, and payouts

• Profit split: 80% standard across all programs; upgradeable to 90% via addon or through the scaling plan
• Spreads: Traders are commission-free but with wider spreads on ThinkTrader. For MT5 accounts, raw spreads from 0.0 pips with commission.
• Commission: $4 per lot per side on MT5; zero on ThinkTrader
• Payout schedule: Bi-weekly standard; weekly payouts available via addon
• Payout methods: Crypto, RiseWorks, and Broker Profit Transfer

What you can trade and at what size

• Forex: 49 pairs; leverage dynamic up to 1:100 on Dual Step and Nexus; 1:30 on Lightning
• Indices: NAS100, GER40, and others; leverage up to 1:15
• Commodities: Gold, silver, and oil; leverage up to 1:30
• Cryptocurrencies: BTC/USD, ETH/USD, and others; leverage 1:2

Trading software and tools

ThinkCapital supports ThinkTrader and MT5, both accessible to beginner traders. The former is a proprietary platform with full TradingView integration. This means you can chart and execute trades directly from TradingView charts without switching windows, and without paying any commission. Also, all accounts come with access to a free trial before any paid commitment.

Rules every trader must follow

• News trading: A news trading addon is available for the Lightning and Nexus programs to remove this restriction on funded accounts. Dual Step Swing permits news trading by default
• Expert advisors: They are banned by default. Automated systems require purchasing the EA addon.
• Weekend holding: Permitted on Nexus and Dual Step Swing, and Lightning funded accounts; not permitted on Dual Step Intraday.
• No account rolling: Deliberately failing a challenge to restart is flagged and banned
• Gambling behavior: Accounts exhibiting reckless position sizing, described as oversized risk relative to account balance, are subject to a warning and potential reset.

Reputation and trader experience

The average rating for ThinkCapital on Trustpilot is 4.0/5 from 604 reviews. Of these, 75% are five-star and 15% are one-star ratings. Positive reviews cite fast and helpful live support, TradingView integration on ThinkTrader, tight gold spreads, and the credibility of ThinkMarkets’ regulated backing. On the other hand, some negative reviews describe accounts being terminated for “multiple profiles” following giveaway wins or near-payout milestones, with no specific evidence provided by the firm’s risk team. ThinkCapital’s responses to these reviews cite undisclosed risk team findings but do not address the individual claims in detail.

Our assessment

ThinkCapital is one of the two broker-backed firms in this list, and this is a major upside. Other advantages include TradingView integration on a commission-free platform, and low entry fees across three structured programs. This makes the firm ideal for traders who want the reliability of a regulated-broker-backed infrastructure at a budget entry point.

How the Eight Firms Compare

Firm	Max Capital	Default Split	Challenge Tracks	Min Entry Fee	Time Limit	Crypto Payout	Trustpilot
OneFunded	$200,000	80%	4	$16	None	Yes	4.4
FTMO	$2M	80%	2	€79	None	Yes	4.8
RebelsFunding	$530,000	75-90%	5 tiers	€9	None	Yes	4.4
CTI	$4M	80%	4 + VIP	$1	None	Yes	4.3
ThinkCapital	$1.5M	80%	3	$39	None	Yes	4.0

*BrightFunded’s Trustpilot rating has been removed by Trustpilot due to a breach of its guidelines.

Conclusion

The right prop firm for a beginner trader is not the most popular one globally. It may also not be the one that advertises the juiciest profit share. Instead, the firm you should choose is one that works given your payout options, the cost in INR terms, how the evaluation is structured, and how clearly the rules are written. Those four filters eliminate a lot of options quickly.

That said, we have learned that no evaluation deadline, crypto payouts that bypass the friction of international bank transfers, entry fees that do not require a large capital commitment to get started, and rules written plainly enough are the most important hoops a firm must jump through. And by this point in the guide, you have already seen which firm fits this description.

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enCore Energy Corp. (EU:CA) Discusses Leadership Transition and Management Strategy Following Recent Corporate Update April 23, 2026 11:00 AM EDT

Company Participants

William Sheriff – Executive Chairman
Richard Little – CEO & Director

Presentation

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Operator

Good morning, everybody, and thank you for joining us for the enCore Energy web call. First meeting this morning with the recent news release on some changes at the company. I have today with us William Sheriff, Executive Chairman; and Rich Little, CEO. Just an introduction to Bill and specifically Rich and ask Bill Sheriff to take it away. Please, if you’re asking questions, type them in, and we will review the questions at the end. Thank you very much.

William Sheriff
Executive Chairman

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Hopefully, there are some familiar faces out there. Bill Sheriff, the Executive Chairman. I just want to give you a little bit of background on what I think is really a team consolidating and leading move that the Board has instituted here at enCore Energy. A few weeks back, I was contacted and asked for my advice on where management should go, and I provided that to the Board and the Board had already decided to go in a direction. I wholeheartedly recommended Mr. Rich Little, who they — in a series of conversations moved to connect with and had what I’d considered an ideal background and the Board agreed. And so the negotiations were underway and Rich agreed to join.

I want to thank both Rich and the Board of Directors for both of them asking me to return as well. And I think we’ve put together a really solid team and had a good team below and ready to move forward. So I think this will be a very short transition period. And we’ve got a number of goals that we will

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Arca Continental, S.A.B. de C.V. (EMBVF) Q1 2026 Earnings Call April 23, 2026 11:00 AM EDT

Company Participants

Arturo Hernandez – Chief Executive Officer
Emilio Marcos Charur – Chief Financial Officer
Jean Claude Tissot – Chief Operations Officer
Jesús García Chapa – Chief Strategic Capabilities and Planning Officer

Conference Call Participants

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Melanie Carpenter – i-advize Corporate Communications Inc.
Ulises Argote Bolio – Santander Investment Securities Inc., Research Division
Felipe Ucros Nunez – Scotiabank Global Banking and Markets, Research Division
Fernando Olvera Espinosa de los Monteros – BofA Securities, Research Division
Thiago Bortoluci – Goldman Sachs Group, Inc., Research Division
Renata Fonseca Cabral Sturani – Citigroup Inc. Exchange Research
Antonio Hernandez – Actinver Casa de Bolsa, S.A. de C.V., Research Division
Lucas Ferreira – JPMorgan Chase & Co, Research Division
Rodrigo Alcantara – UBS Investment Bank, Research Division
Emiliano Hernández Marvan – GBM Grupo Bursátil Mexicano, S.A. de C.V. Casa de Bolsa, Research Division
Henrique Morello – Morgan Stanley, Research Division

Presentation

Operator

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Good’s day, everyone, and welcome to the Arca Continental First Quarter 2026 Conference Call. [Operator Instructions] Please note, this call is being recorded. [Operator Instructions] It is now my pleasure to turn the conference over to Melanie Carpenter of Ideal Advisors. Please go ahead.

Melanie Carpenter
i-advize Corporate Communications Inc.

Thank you, operator. Good morning, everyone. Thank you for joining the senior management team of Arca Continental to review their results for the first quarter of 2026. Their earnings release went out this morning, and it’s available on the company website at arcacontal.com in the Investor Relations section.

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It’s now my pleasure to introduce our speakers. Joining us from Monterrey is the CEO, Mr. Arturo Gutierrez; the CFO, Mr. Emilio Marcos; the Chief Planning and Strategic Capabilities Officer, Mr. Jesus Garcia; and the Chief Operating Officer, Mr. Jean-Claude Tissault. They’re going to be making some forward-looking statements, and we just ask that you refer to the disclaimer and the conditions surrounding those statements