Compare Crypto Prop Firms
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Choosing a crypto prop firm comes down to one question most comparison sites skip: where does your order actually go? Some firms route into a real exchange book on Bybit or Kraken, where depth, funding rates and liquidation mechanics belong to the market. Others quote you a crypto price inside their own simulator. Both are sold as crypto prop firms. They behave nothing alike when volatility arrives. Use the finder below to open a full, side-by-side breakdown of any two crypto firms we cover.
Quick answer
A crypto prop firm funds traders to trade crypto, usually USDT perpetual futures, after they pass a paid evaluation, then splits the profits with them. JoinProp lists eight firms where crypto is the actual product: Crypto Fund Trader, Kraken Prop, Mubite, Breakout, HyroTrader, PropW, Wen Crypto and Velotrade. Five of the eight name the venue their fills come from. Drawdowns are tighter than in forex, typically 3 to 10 percent, because the asset is more volatile. Payouts are usually made in stablecoin, splits start at 80 percent, and the 90 percent headline is almost always a paid add-on rather than something you earn.
Popular crypto prop firm comparisons
The most-compared crypto prop firms on JoinProp are Crypto Fund Trader, Kraken Prop, Breakout, Mubite and HyroTrader. Pick any two below to open a full side-by-side breakdown of their evaluation rules, drawdown, fees and payouts.
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What a crypto prop firm actually does
A crypto prop firm gives you access to a funded account for trading digital assets without asking you to put a large amount of your own money at risk first. You pay for an evaluation, prove you can hit a profit target while respecting the firm risk rules, and then trade the firm capital for a share of the profits. The instrument is usually a USDT-denominated perpetual future rather than a spot coin, which matters more than it sounds: nothing on these programs settles into an asset you hold, and every firm in this category operates simulated or notional accounts.
Exchange-connected or simulated: the dividing line
The distinction that decides most crypto prop outcomes is venue, not instrument. An exchange-connected firm routes your order into a real book. Kraken Prop runs inside Kraken Pro and settles to your Kraken wallet. Crypto Fund Trader and HyroTrader route through your own Bybit API key and subaccount. Mubite trades USDT perpetuals on Bybit or Cleo. Breakout trades perpetual futures on its own terminal into centralised exchange liquidity, and is now part of the Kraken group. PropW and Wen Crypto run their own simulated environments, and Velotrade is a DXtrade firm where crypto sits beside forex, stocks, indices and commodities.
Even a named venue is not an unconditional promise. Kraken Prop states that funded capital is notional and that it may route your trades to real Kraken liquidity or book them internally as simulated, at its own discretion. Read a venue claim as a disclosure worth having, not as a guarantee of where any given fill happened.
How a crypto evaluation works
Most crypto prop firms run a one-step or two-step evaluation on a simulated account, commonly between $5,000 and $200,000, with a profit target you have to reach without breaching the drawdown limit. The detail that catches people out is how tight those limits are. Kraken Prop runs a 3 to 6 percent static maximum with a 3 percent daily limit. Breakout one-step plans run 3 to 6 percent static while its two-step trails at 8 percent below your high-water mark. Compare that with the 8 to 10 percent a forex firm gives you on a much calmer instrument, and add commission and daily funding costs, which eat into the same buffer.
The 24/7 clock is the other crypto-specific wrinkle. Daily limits reset on a crypto day rather than a forex server day, with Mubite resetting at midnight UTC and Breakout at 00:30 UTC on equity including open positions. Seven of the eight firms permit weekend holding, though Kraken Prop and Velotrade charge a funding or financing fee for it, PropW allows it inside a 10 calendar day maximum hold, and HyroTrader caps any position at 7 days.
Fees, payouts and what blocks them
Assume 80 percent unless you pay. Kraken Prop, Crypto Fund Trader and Velotrade all sell the 90 percent upgrade at checkout for an extra 20 percent of the plan or challenge fee, and the Mubite add-on costs the same. Only Wen Crypto and HyroTrader treat the higher split as a performance milestone.
What usually blocks a payout is a cap, not processing speed. PropW enforces a 45 percent consistency cap, restricts trades closed inside 60 seconds, and limits each payout to 10 percent of the account size. Crypto Fund Trader deducts simulated profit above $10,000 per day and per trade. Velotrade forfeits anything above 20 times your challenge fee on your first two payouts. Wen Crypto caps a single day at 40 percent of total profit. Kraken Prop and Breakout are the two with no consistency rule and no profit cap at all. Payouts themselves are usually stablecoin, in USDC or USDT, with minimums as low as $50.
Choosing the right crypto prop firm
The best crypto prop firm is the one whose rules fit how you actually trade. If you want your fills to reach a real matching engine, start with the five firms that name a venue. If you hold positions for days, check the maximum hold period before anything else, because a 7 or 10 day cap will end a swing strategy quickly. If you scale a winning account, check whether the drawdown is static or turns trailing once you are in profit. And if you need a regulated counterparty, none of these firms qualifies: all eight operate through unregulated entities, so your recourse if a payout is refused is contractual rather than regulatory.
Frequently asked questions about crypto prop firms
What is a crypto prop firm?
A crypto prop firm gives traders access to a funded account for trading digital assets, usually USDT perpetual futures, without requiring them to risk a large amount of their own capital first. You pay for an evaluation, hit a profit target while respecting the firm risk rules, and then trade the firm capital for a share of the profits.
Which crypto prop firms reach a real exchange?
Kraken Prop, Crypto Fund Trader, HyroTrader, Mubite and Breakout all name a venue. PropW and Wen Crypto run their own simulated environments, and Velotrade is a multi-asset CFD firm. Even where a venue is named, the firm may retain discretion over how individual trades are booked.
Are crypto prop firms regulated?
No. All eight firms in this category operate through unregulated entities and all use simulated or notional accounts. That is normal for the sector, but it means your recourse if a payout is refused is contractual, not regulatory.
What profit split do crypto prop firms offer?
The base split is 80 percent at most firms. The 90 percent headline is usually a paid add-on costing around 20 percent of the challenge fee rather than something earned through performance. Wen Crypto and HyroTrader are the exceptions, treating the higher split as a performance milestone.
How tight are crypto prop firm drawdowns?
Tighter than forex, because the asset is more volatile. Expect roughly 3 to 10 percent maximum drawdown depending on the firm and plan, against the 8 to 10 percent a forex firm gives on a much calmer instrument. Check whether the limit is static or trailing, and whether it trails intraday or end of day.
Can I hold crypto positions over the weekend?
At seven of the eight firms, yes. Kraken Prop and Velotrade charge a funding or financing fee for it, PropW allows it inside a 10 calendar day maximum hold, and HyroTrader caps any position at 7 days. Breakout published rules do not address weekends at all, which is a gap rather than a permission.
How are crypto prop firm payouts made?
Usually in stablecoin. USDC and USDT are the norm, with minimums from $50, and several firms process withdrawals inside 24 hours. Kraken Prop settles to a Kraken wallet. Check the caps before the speed: consistency rules and per-payout ceilings block more payouts than slow processing does.
Do crypto prop firms let me own the coin?
No. Nothing in this category settles into an asset you hold. Every firm listed operates simulated or notional accounts, and the product is a profit share rather than ownership of the underlying.