Best Crypto Prop Firms in 2024 – Crypto trading can be really challenging due to its high price swings. When you have a small account, it’s easy to take on too much risk just to make a decent profit, which can be dangerous. That’s why many traders turn to crypto-funded accounts from proprietary trading firms. These firms give traders access to larger amounts of money, so they can trade without risking their own funds. In this article, you’ll discover the top crypto prop firms and learn how to compare them to find the one that best suits your needs.
Crypto Prop Firms in 2024
FundedNext
FundedNext is a well-known name in the proprietary trading world, and the firm has just recently launched its Crypto Trading feature. Crypto prop trading on FundedNext is open 5 days a week, and currently allows you to trade in a number of cryptocurrencies, including BTC and ETH. With a secure and easy-to-use trading platform, a Dedicated Account Manager feature, wealth of educational tools and a flexible evaluation model, it is a great choice whether you’re just starting or you’re already experienced in the world of crypto prop trading.
Features
- Dedicated account manager
- Great variety of cryptocurrencies available
- Secure trading platform
- Profit spilt: Up to 95%
- Evaluation: Yes
- Refundable registration fee: Yes
- Trading platform: FXCH
- Price: From $49
- Maximum capital: $4,000,000
- Leverage: 1:2
- Available cryptocurrencies: Dogecoin, Cardano, XRP, Bitcoin, Ethereum, Stellar, Bitcoin Cash, Chainlink, Litecoin, Monero
PipFarm
PipFarm is a cTrader-based ‘funded trading’ platform that allows you to trade on the crypto market and build your career with up to $100,000 in funding (scaling up to $300,000). The platform offers 90% profit splits, and you can also trade other assets like forex, metals, energies and indices. You can access leverage at competitive rates and enjoy tight spreads that help you keep more money in your pocket.
Features
- Automated trading
- News trading
- Weekend positions
- Overnight positions
- Bi-weekly payouts
- Diverse range of assets
- Multiple account sizes and styles
- No consistency rules
- Profit split 90%
FTMO
Cryptocurrency traders can trade BTC/USD, ETH/USD, LTC/USD, XRP/USD, DASH/USD, XMR/USD, ADA/USD, DOGE/USD, DOT/USD, and NEO/USD on MT4/MT5 and cTrader. FTMO, headquartered in the Czech Republic, has a two-step verification process. I rank FTMO as the best among crypto prop firms, as it has added a feature allowing qualifying users to become professional traders with a fixed salary via Quantlane. FTMO has a daily loss limit of 5% and a maximum drawdown limit of 10%. Traders must reach 10% in profits during the first step of the evaluation process, followed by a 5% profit, and trade for at least four days.
Features
- Profit spilt Up to 90%
- Evaluation: Yes
- Refundable registration fee: Yes
- Trading platforms: MetaTrader 4, MetaTrader 5, cTrader
- Price: From $155
- Maximum capital: $400,000
- Leverage: Up to 1:3 for crypto
- Available cryptocurrencies: Bitcoin, Ethereum, Litecoin, XRP, Monero, Dash, Dogecoin, Cardano, Polkadot, Neo
The Trading Pit
Trading Pit is one of the best crypto proprietary trading firms, progressively widening its scope for high crypto engagement. Based in Liechtenstein and operating from offices in Canada, Cyprus, and Spain, the Trading Pit is known for its advanced technology and High-Frequency Trading (HFT) methods. This firm has a one-step trading challenge and an up to 80% profit-sharing model. It is esteemed to provide trading opportunities across various trading assets, including major cryptocurrencies. With their hazard management tools and strategic approach, the Trading Pit aims to generate stable profit targets for beginners and seasoned traders seeking flexibility and an array of advanced trading tools such as StereoTrader, Squawkbox, Economic Calendar, and CME Heatmap.
Features
- Profit Split – Up to 80% profit share.
- Registration Fees – Minimum registration fee of $99 for a Lite account.
- Evaluation –Register, pick a challenge, and show your trading skills.
- Supported Cryptocurrency – Bitcoin, Litecoin, Ripple, Bitcoin Cash, Dash, Ethereum, Cardano, EOS, PAX, Zcash, USD Coin.
- Leverage For Crypto – 1:30
- Max Capital – $5,000,000
- Price Compared To Another Platform – Low
Crypto Fund Trader
Crypto Fund Trader is the best crypto trading prop firm that supplies required capital to professional traders and shares their profits. Funded traders can trade across multiple markets, including forex, crypto, commodities, stocks, and indices, with their demo funds and still make a profit. Crypto Fund Trader funds talented traders with up to $200,000, out of which they can earn 80% of the profits.
Features
- Profit Split – 80% Split.
- Registration Fees – One-time registration fee.
- Evaluation Process – Two Funded Trader Programs have one or two phases during which the ability is confirmed.
- Supported Cryptocurrency – 46 cryptocurrencies, including Bitcoin, Polkadot, Bitcoin Cash, and Dogecoin.
- Leverage For Crypto – 1:100
- Max Capital – $200,000
- Price Compared To Another Platform – Low to Moderate
What To Look Out For When Choosing A Crypto Prop Firms.
Advanced Trading Tools and Technology
To develop one of the best funded trader programs, crypto trading firms strive to provide a prop trading arena fueled by the latest technological advancements, ensuring that the trading experience rivals that of any other centralized exchange (CEX) or trading platform. These cryptocurrency prop firms relentlessly pursue the integration of state-of-the-art innovations in the industry
Educational Resources
For crypto prop firms to generate profits, their traders must be equipped with the necessary tools for success. The evaluation process of a crypto prop trading account, where potential traders undergo testing in a simulated trading environment mirroring actual processes, proves to be an invaluable tool. It enables traders to experiment with their strategies in a risk-free setting before venturing into live trading.
Risk Management
Lone-wolf traders bear the responsibility of developing their risk management methods, a process that can be extensive and challenging, considering the multitude of factors to consider in formulating a successful trading strategy.
Advantages Of Crypto Prop Firms
- You get access to a highly volatile market, which is where you can potentially make bigger profits.
- You don’t need to risk your own capital to trade.
- You can get funded with big-sized accounts, so you don’t need to overleverage and gamble your small account to potentially make decent profits.
- You are forced to follow proper risk management rules.
Disadvantages Of Crypto Prop Firms
- The leverage provided is not big, but consider it a safety factor against the high volatility of the crypto market.
- The number of coins available to trade is not very extensive, although you have the major ones.
- The firm keeps a small part of the profits for them.
- Risks and Challenges of Crypto Prop Trading?
Risks of using a crypto prop trading firm
Although utilizing crypto prop trading businesses has a number of advantages for traders, there are also risks involved. If you want to choose wisely whether to cooperate with a prop trading business, you must be aware of these risks.
- The chance of experiencing financial loss while working with a crypto prop trading firm is one of the main concerns. The company may provide traders access to significant sums of cash, but this also implies that losses may be enormous. The fact that a trader is using the firm’s money and that any losses will be taken on by the company might result in the account being terminated and is something that traders need to be aware of.
- The possibility of conflicts of interest is another risk. Crypto prop trading firms may have a stake in traders making money since doing so will eventually increase their bottom line. As a result, traders could feel pressured to take on more risk than they are comfortable with in order to increase the firm’s earnings.
- There is a chance for security lapses and cyberattacks. Cyberattacks on prop trading firms might jeopardize the security of the firm’s data and the traders’ personal information. Significant financial losses and harm to the firm’s and its traders’ reputation may result from this.
- Engaging with crypto prop trading firms raises concerns about regulatory risks. As the cryptocurrency market is mostly unregulated, there is a chance that regulatory changes or repercussions might have an impact on how prop trading firms conduct their business. Therefore, before engaging with a crypto prop trading firm, individuals should ensure that they have conducted thorough due diligence on the trading firm, including their compliance with relevant laws, regulations, and industry guidelines.
Frequently Asked Questions (FAQ)
How Much Is the Profit Split?
The profit split at most crypto prop firms ranges between 80% and 90%. Prop traders should ignore anything less than 80% but consider paid-for add-ons that increase the profit split between 95% and 100%.
Are Crypto Prop Firms Legit?
Crypto prop firms are legitimate businesses duly registered in their jurisdiction but remain unregulated. Regrettably, the retail crypto prop firms scene is cluttered with fraud and scams.
What is a Crypto Prop Firm?
A crypto prop firm provides capital to traders, allowing them to trade cryptocurrencies with little to no personal risk. The firm funds traders and takes a share of the profits.
