Crypto Trading Veterans Join Forces In Bid To Level Up Prop Trading

With the crypto market showing increasing signs of good health, buoyed by optimism around the potential regulatory approval of a spot Bitcoin ETF, Breakout couldn’t have timed its launch any better. 

Founded by a quartet of tech startup founders, crypto industry veterans and seasoned traders, the company hopes its new evaluation-based prop trading firm will become the number-one choice for traders of not just crypto but also FX, commodities and indices.

Prop Trading Firm Breaks Out of Stealth Mode

Launching on November 29, Breakout is dedicated to finding successful traders via their evaluation program and providing them with performance-based payouts. Of course, given the stiff competition it will face, the firm will have to do more than that to establish itself in what is a crowded landscape. 

Furnishing users with extremely tight live spreads, seamless trade execution and radical transparency is a good start – but the true value prop for this particular prop trading firm lies in the crypto liquidity it sources from its tier-1 centralized exchange partner, ByBit.

Although there is no shortage of prop trading firms catering to crypto investors, Breakout insists its unique technology stack alongside its integration with Bybit gives it a significant competitive edge. By pulling pricing and liquidity from an established exchange with 15 million users, it is able to offer highly competitive trade execution via superior spreads and market depth, akin to trading directly on a centralized exchange. As far as FX, commodities and indices are concerned, Breakout also works with leading FCA and ASIC-regulated FX broker ThinkMarkets to provide similar benefits. 

This particular feature stands in stark contrast to existing prop trading firms which tend to rely on their legacy FX broker to access crypto liquidity, which is why it’s unsurprising to hear Breakout co-founder Alex Miningham suggest that the platform is “launching with the most competitive crypto prop trading experience across the entire industry. In addition to our differentiated product and execution environment for crypto, we’re committed to becoming the most transparent and user-friendly prop trading firm in the market.”

The confidence of Miningham, a serial web2 tech entrepreneur since 2008 turned web3 investor, is shared by his co-founders Dylan Loomer, aka TraderMayne, CryptoCred and Abetrade, all of whom are familiar faces in the unique and constantly-evolving world of cryptocurrency trading. Having used a variety of trading platforms over the years, the four business partners were convinced they could custom-build an alternative that served as a one-stop shop for prop traders looking for uncompromising execution across global markets.

Breakout’s professed commitment to transparency is another notable feature it has emphasized right out of the gate. The company has pledged to publish clear and fair rules around evaluations, and to regularly share comprehensive data including success rates, breaches, payout totals and more. In this way, it says it will help to inform and educate prop traders.

Why Prop Trading?

Prop trading furnishes talented traders with a potential capital base they can trade with in order to receive a performance split on the gains they make in their accounts. Instead of funding their own trading accounts and holding their assets in an exchange hot wallet – prop traders can gain access to trading capital without custody risk.

To gain access to a funded Breakout account, users must pass a one or two-phase evaluation in the legacy or crypto market by reaching a specific performance target without breaching the drawdown rules. If successful, traders gain access to a funded Breakout account where they can gain access to real payouts.

The platform’s mission is clear: offer a competitive trading environment for prop traders, whether they’re interested in trading cryptocurrency, FX, commodities or indices. By offering highly competitive trade execution via superior spreads and market depth alongside a dynamic and robust user experience, this new industry player is primed to hit the ground running.

This post was authored by an external contributor and does not represent Benzinga's opinions and has not been edited for content. This contains sponsored content and is for informational purposes only and not intended to be investing advice.