FPFX Tech Acquires BullRush Parent Company as Retail Prop Trading Models Shift

FPFX Tech has acquired BR Management Group LLC, the parent company of BullRush Entertainment, adding a competition-based trading framework to its proprietary trading technology infrastructure.

FPFX operates primarily as a backend technology provider for retail proprietary trading firms, offering services such as trader onboarding, account management systems, analytics, platform integrations and rule enforcement. The acquisition brings BullRush's paid-entry trading competition model into FPFX's existing technology stack.

BullRush is not structured around traditional simulated funding evaluations commonly used by retail prop firms. Instead, its core product consists of fixed-duration trading competitions, where participants pay an entry fee and are ranked on performance-based leaderboards. Prizes or further opportunities may be awarded to top performers, but the model remains event-driven rather than open-ended.

The deal reflects growing pressure within the retail prop trading sector to move beyond standard "pay-to-evaluate" funnels, which have become increasingly uniform across firms. Competition-based formats emphasize repeat participation under predefined rules, rather than single-use evaluation accounts.

From an operational standpoint, competition structures introduce clearer parameters. Trading rules are set in advance, timeframes are fixed, and performance outcomes are measured within the same constraints for all participants. Compared with long-running evaluation accounts, this reduces ambiguity around resets, rule interpretation and dispute resolution.

The company has previously disclosed that it has ended relationships with certain prop firm clients after internal reviews identified rule violations, simulated trading abuse or questionable payout practices, highlighting the role of enforcement in maintaining the prop trading model.

By incorporating BullRush, FPFX adds competition mechanics that can be standardized across multiple firms using the same backend infrastructure. Such formats may offer greater consistency as regulatory and operational scrutiny of retail prop trading increases.

BullRush entered the market positioning itself as an alternative to conventional prop firm evaluations, emphasizing visible performance metrics and structured contests. Shortly before the acquisition was announced, co-founder and chief executive Trent Hoerr stepped away from the company.

Hoerr previously held senior roles linked to firms operating within the same technology and proprietary trading ecosystem as FPFX, suggesting the transaction reflects a consolidation of aligned approaches to trading infrastructure.

FPFX said BullRush will continue operating during an integration phase, with product updates expected in the coming months. It remains unclear whether BullRush will remain a standalone brand or be integrated as a white-label feature within FPFX-powered prop firms.