Amidst chatter about the crypto market’s next bull run, a new prop trading platform has announced its launch. The firm, Breakout, has been established by a team of four experienced and prominent industry figures, and aims to set a new standard in evaluation-based prop trading. Interestingly, it will cater not only to those trading crypto but also the FX, commodities, and indices markets.
Emerging Prop Trading Firm Steps into the Limelight
Officially launched on November 29, Breakout is committed to providing capable traders with fair evaluations in a robust trading environment, outlining a commitment to what it calls “radical transparency.” In the context of prop trading, this effectively means that it will be completely open about its evaluation rules and regularly disclose detailed statistics and data such as success rates and payout totals.
This cards-on-the-table approach is designed to educate and inform traders, who tend to remain in the dark about such metrics on most other existing prop firms. As well as a high degree of transparency, Breakout says it will offer traders highly competitive trade execution via superior spreads and market depth alongside trader-focused user interfaces, so that traders who are successful with Breakout can leverage the same trading strategies in the live markets. In the case of the former, these live spreads are possible thanks to Breakout’s integration with top-tier centralized exchange Bybit.
Through its integration with Bybit, Breakout says it will be able to offer market depth and spreads that closely mirror those on the exchange itself. This direct sourcing of deep crypto liquidity is expected to be a key differentiator as the company establishes itself in what is, after all, a competitive prop trading landscape. For FX, commodities, and indices, the platform integrates with leading FCA and ASIC-regulated FX broker ThinkMarkets, ensuring similar benefits.
This approach to liquidity is highly novel when compared to other prop trading firms which generally depend on legacy FX brokers for crypto liquidity access which has historically resulted in wide spreads and inferior execution. In its press release announcing the platform’s launch, Breakout co-founder Alex Miningham asserted that it would offer “the most compelling crypto prop trading experience in the industry.” Alongside this key value proposition, Breakout offers its own ultra-modern trading interface, custom-built web and mobile apps (as well as offering MT4 and MT5) and breadth of trading options, including 9 commodities, 14+ indices, 50+ forex pairs, and over 50 cryptocurrency pairs.
Miningham, a serial web2 tech entrepreneur since 2008 and active web3 investor since early 2017, along with co-founders Dylan Loomer (TraderMayne), CryptoCred, and Abetrade, are well-versed in the dynamic and constantly-evolving world of cryptocurrency trading. Their extensive industry experience inspired the quartet to create a comprehensive solution for prop traders looking to access capital without risking their own bankroll.
The Essence of Prop Trading
Prop trading provides retail traders access to capital, enabling them to focus more on trading their edge without risking their own bankroll. However, in order to access a funded account and gain access to potential payouts, traders must first prove their skills in an evaluation that requires the trader to hit a specified performance target without breaching any of the posted drawdown rules.
Whether a crypto bull market is imminent is anyone’s guess: but retail traders confident in their ability to spot trends and trade their edge will likely be intrigued by what Breakout is offering, particularly given its access to Bybit’s deep liquidity for crypto trading. If it delivers on its promises, it could well become the top choice for traders of not just crypto but FX, commodities, and indices as well.
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