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…
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