👀 Topstep acquires The Futures Desk

Hi everyone, it’s Kieran. I hope you had a good Easter. A few markets still closed today (mainly European) but the US is open and things are moving this morning.

Firstly, some industry news, Topstep have acquired The Futures Desk. This dropped on April Fool’s day, but it is real and is an interesting move.

As per their press release:

• The Futures Desk Acquisition: Topstep has officially acquired The Futures Desk (TFD), bringing together two trader-obsessed teams to build the Ultimate Trading Experience.

• Tech Integration: We’re integrating TFD’s advanced tech directly into TopstepX, giving traders more developmental tools designed to help them learn and build better habits while they trade.

• Next Level Trading Expertise: TFD Co-founders Josh Schwartzberg and Brian Ford are joining Topstep, bringing their “hard hat” mentality and deep experience in moving traders from sim to live accounts.

• Accelerating the Mission: This move is about more than growth; it’s about providing the best support, tech, and coaching in the industry to help our community get funded and stay funded.

Full press release: https://www.globenewswire.com/news-release/2026/04/01/3266805/0/en/Topstep-Acquires-The-Futures-Desk-Doubling-Down-on-The-Ultimate-Trading-Experience.html

Else where MyForexFunds, have taken another step towards their relaunch by sending out pending payouts which were due when they were forced to close. They are doing things the right way and im interested to see what their offering looks like when they finally reopen.

📢 Firm Announcements

• Tradeify launched Tradeify 3.0, adding new 25K accounts, Tradesea and Rithmic support, a real time dashboard, built in journaling, no subscriptions, and a live performance reward pool up to $90,000.

• FundedNext expanded its scaling framework, offering 4% growth per cycle and up to $4M allocation, while continuing updates across Stellar and Instant account structures.

• Funded Futures Family announced major upgrades including 5 accounts per user, metals trading, no payout windows, Premier Plus improvements, upcoming 25K accounts, and a Town Hall to unveil more changes.

• AquaFutures rolled out major model changes, including softer breach logic, lower targets, no consistency rule on Standard accounts, one time fee structures, and on demand payouts, with a new trading platform also teased.

• HolaPrime added new swap free and reset add ons, plus broad account updates including higher leverage, bigger max loss limits, improved payout splits, and no activation fees across several products.

• Breakout rolled out a built in TradingView execution terminal and expanded its free tools suite with features like footprint charts and open interest screening.

• My Crypto Funding completed Rise onboarding, added a Two Step program, daily payout add on, and 24/7 trading support, while continuing platform and server upgrades.

• FunderPro launched a formal appeal system and confirmed consistency is now measured on balance rather than equity.

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🕜 Red Folder News

Here are this week’s red folder news events. Inflation numbers dropping on Friday (CPI) as well as FOMC minutes Wednesday, however events in Iran will be driving markets this week. A potential 45 day ceasefire is being floated this morning. A very fluid situation.

📈 Markets

Strait of Hormuz

Daily number of transits is still practically nothing. Ceasefire talk this morning but we’ve see this many times before. Iran has a lot of leverage.

Oil stocks, how long can they last?

About a month’s worth of reserves on average. European LPG and UK’s 14 days of crude oil reserves are crazy low.

Who is most reliant on Oil via Hormuz?

Interestingly, although the UK as very low oil reveres, they are not greatly exposed to the Hormuz closure, with the exception of Jet Fuel. The countries with the highest exposure are Asian countries, and most of them are exposed in a big way.

If the Strait reopens, how long for oil tankers to reach countries?

Even if they Strait fully opens today, it’s going to take the best part of a month to reach most countries. A crisis that is going to drag on, ceasefire or not.

OK let’s see how this week plays out, have a good one!

Kieran

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