The rise of crypto trading has led to a multitude of prop trading firms now including cryptocurrency as one of their offered instruments. Today, let’s navigate through the top five affordable prop trading firms that offer cryptocurrency, ideal for those with 100K account sizes and 2-step challenges. These rankings are established based on the standard pricing, excluding any temporary discounts, as discounts may fluctuate over time. With a meticulous examination of their trading platforms, risk management protocols, and pay-out schedules among other factors, this blog aims to help traders with a well-rounded perspective to make an informed decision based on affordability and service offerings.
Significance of Pricing Structure in Crypto Prop Trading Firms
Crypto prop trading firms with a competitive pricing strategy provide a crucial springboard for newcomers to the domain or those operating with constrained capital. By requiring lower initial investments and minimized fees, these firms ease the pathway for individuals to initiate a trading career. They frequently afford traders access to the firm's capital, enabling larger positions and potentially heightened profits. Additionally, the diminished financial burden can mitigate some of the anxiety for beginners, potentially nurturing better decision-making and enhanced trading outcomes. High entry fees might deter talented individuals with limited funds, highlighting the necessity for a balance between cost, reliability, and quality of service.
Below, we spotlight the five most cost-effective prop trading firms that offer cryptocurrency for traders specifically looking for 100K account sizes and 2-step challenges.
#1 My Flash Funding [Price: $497]
Starting with the most cost-effective option, My Flash Funding positions itself in the market by offering access to a $100K 2-step account with an entry price of $497. This firm, based in the USA, provides MT4 and MT5 platforms for trading, and the brokerage used is ThinkMarkets. Participants are expected to reach a profit target of 6% during Phase 1 and maintain another 6% in Phase 2 to qualify for an 80% profit split. In terms of risk control measures, the firm enforces a maximum daily loss limit of 4% and a total drawdown cap of 8%, parameters that are established to preserve capital and ensure trading discipline. Additionally, My Flash Funding offers a pay-out frequency every 7 days, adding a layer of stability for traders, knowing that achieved profits would be accessible on a weekly basis. Traders have access to Forex, Metals, Commodities, Indices, and select Cryptocurrencies (BTC, BCH, LTC & ETH). The firm offers varying leverage ratios: 1:100 for Forex, 1:10 for Indices, 1:20 for Gold & Commodities, and 1:2 for Crypto.
#2 Glow Node [Price: $499]
Close on the heels of affordability is Glow Node, priced at $499 opportunity to manage a $100K account. The prop firm, headquartered in the United Kingdom, provides the MT4 platform for trading, and the brokerage used is EightCap. Glow Node sets definitive financial benchmarks and risk management standards, requiring traders to achieve an 8% profit target in Phase 1 and a 5% target in Phase 2, aligning with an 80% profit split arrangement. The structure further stipulates a maximum daily loss limit of 5% and a total drawdown limit of 10%, carrying out a disciplined trading approach. Glow Node facilitates pay-outs every 14 days, establishing a bi-weekly financial cycle. Glow Node, although a new player in the prop trading domain, offers a variety of trading instruments with competitive leverage and commission structures. The firm offers different leverage ratios for different instruments: 1:30 for Forex, 1:10 for Indices, and 1:3 for Crypto.
#3 Traddoo [Price: $499]
With an entry cost of $499, Traddoo, operating from the British Virgin Islands, extends its proprietary trading program to individuals interested in handling a $100K account. Traddoo utilizes two brokers, TradeLocker and OspreyFX, with MT4 and MT5 platforms for trading. Financially, the standard commission rate for TradeLocker is $4 per lot, and for the MT5 platform provided by OspreyFX, the standard commission is $6 per lot. The program outlines specific targets, expecting participants to hit an 8% profit in Phase 1 and a subsequent 5% in Phase 2, corresponding with an 80% profit sharing. Risk management is also a focal point, with the company instituting a 5% limit on maximum daily loss and a 10% restriction on total drawdown. These measures serve as essential safeguards, especially in the volatile crypto market. Complementing these aspects is a 7-day pay-out frequency, ensuring traders have consistent and prompt access to their profits. Traders have access to a wide range of instruments including Forex, EU shares, Stocks, Forex Crosses, Forex Exotics, Futures, Crypto, Energies, Indices, and Metals. Additionally, leverage is standardized at 1:30 for all asset types to ensure a balanced trading environment.
#4 Crypto Fund Trader [Price: $520]
Based in Spain, Crypto Fund Trader, with a fee of $520 for a $100K trading account, is the most premium among the options. Crypto Fund Trader offers many trading instruments, with over 500 instruments available across two platforms: the proprietary CFT Platform and MetaTrader 5. The CFT Platform offers 46 Cryptocurrencies and MetaTrader 5 offers over 100. The firm uses Liquidity Data Feed Providers for their broker. Traders are expected to achieve profit targets set at 8% for Phase 1 and 4% for Phase 2. These targets align with an 80% profit sharing framework. In terms of risk management, the parameters set include a 5% maximum daily loss and a 10% total drawdown cap. One of the operational aspects is the pay-out schedule, structured on a 30-day cycle. Traders have access to a wide range of cryptocurrencies. The leverage offered is 1:5, which may be conservative, especially in the cryptocurrency market where price movements can be very volatile. Commissions are structured as 0.15% of the trade volume, which is competitive in the crypto trading space.
#5 BrightFunded [Price: $532]
BrightFunded, though on the higher side of the spectrum at $532, offers a $100K account and operates out of the Netherlands. BrightFunded is highlighted for being the world's first Web 3 powered proprietary trading firm. It incorporates a crypto token known as the Bright funded token, integrating cryptocurrency with traditional prop firm trading. Traders work towards performance goals, including an 8% profit target in Phase 1 and a 5% target in Phase 2, in line with an 80% profit share model. To promote risk-conscious trading, the firm sets a 5% maximum daily loss and a 10% total drawdown limit. These boundaries are critical in guiding traders to interact with market dynamics in a controlled manner. Unique to BrightFunded is its pay-out schedule, which commences after the first 30 days and then continues on a bi-weekly cycle. Traders have access to a wide range of instruments including Cryptocurrencies, Forex, Indices, Commodities, and Stocks. Leverage varies with the asset type: 1:100 for Forex, 1:40 for Gold & Commodities, 1:20 for Indices, and 1:2 for Crypto.
Summary
Our guide examines five prop trading firms offering cryptocurrency, tailored for 100K accounts, with entry prices ranging from $497 to $532. While My Flash Funding emerges as the most cost-effective option, Crypto Fund Trader sits at the premium end. By meticulously comparing their pricing structures, pay-out schedules, and trading platforms among other aspects, the blog aids traders in making financially sound decisions. This examination underscores the significance of a balanced approach between cost, reliability, and quality of service, particularly in the volatile cryptocurrency market. Through these insights, traders can align their budgetary considerations with their trading objectives.
