You can choose between two platforms for your challenge. If you select Bybit, then yes – you will need a Bybit trading account. You’ll connect your Bybit account to HyroTrader using an API. Note: If you are only practicing or trading on a demo account, Bybit verification is not required. If you don’t have a Bybit account yet, you can register here.
I would like to participate in the challenge. Do I need a Bybit account?
New to HyroTrader
Evaluation Process
- How can I become a Trader with HyroTrader?
- How long does it take to become a HyroTrader?
- What happens after successfully completing both Phase 1 and Phase 2 of the verification process?
- I just got verified. When do I get the refund?
- I have reached the profit goal. Will I receive an automatic notification from the HyroTrader team?
- What are the profit goals for each verification phase?
- Will I be automatically notified if I breach one of the rules?
- Do I need to complete KYC on Bybit when starting the verification process with HyroTrader?
Rules
- If I break the rules, do I get another chance?
- Do I have to close my positions overnight?
- What are the other risk management conditions in HyroTrader?
- Minimum trading days
- How is 5% daily drawdown calculated?
- How many positions can I open?
- Do you have an inactivity rule?
- Prohibited Actions
- What is the correct way to set a stop loss, and can I place an order without a stop and then set a stop loss?
- Is news trading allowed?
- I have one trade that exceeds the distribution rule. What happens now?
- Can I trade spot on HyroTrader challenges?
- Are there any other rules for a funded account?
- Can I risk more than 3% of my capital in a single position?
- In what instances would I breach the stop-loss obligation rule?
- Can I trade low-cap altcoins with more than 5% of my initial balance?
Platform
- Which platforms can I use for trading?
- What instruments can I trade?
- Can I create an API Key on Bybit to trade on a different platform?
- Is trading allowed for individuals from restricted countries?
- Which countries are allowed to join HyroTrader? Can I join from the US/UK?
- What leverage can I use?
- Is it possible to trade USDC on funded accounts?
- What happens if my API expires during a Bybit challenge?
- How can I correctly set up multiple Bybit challenges under one Hyro profile?
- How to Correctly Set Up Bybit API and Why Am I Getting an Error When Connecting the API?
- I can’t verify my phone number – what should I do?
Hyrotrader Account
- What is the legal relationship between a trader and HyroTrader during account management?
- How can I withdraw my profits?
- When will I get the account?
- When will I transition from the simulated demo account to the fully funded real account?
- How much is the profit split?
- What happens if I fail the account but it’s still in profit?
- Are traders responsible for any financial obligations to HyroTrader?
- What does 10 days trial left mean? Do I have to clear the stage within a specific time period?
- Can I use trading bots or signal bots during the challenge or on a funded account?
Orders & Billing
Crypto Proprietary Trading Firms
- What Is a Crypto Proprietary Trading Firm?
- How do crypto prop trading firms work?
- Traditional proprietary trading firms.
- Proprietary trading firms offering both real trading and simulated trading accounts.
- Proprietary trading firms that offer only simulated trading accounts.
- What Are the Best Crypto Proprietary Trading Firms?
- How Do Crypto Proprietary Trading Firms Earn Money?
- What Cryptocurrencies Can You Trade With a Crypto Proprietary Trading Firm?
Mentors
Tournament
- What can I win in the tournament?
- How can I win the tournament?
- What is PNL?
- What if I don’t have a ByBit account?
- What is restricted during the tournament?
- What pairs can I trade during the tournament?
- Can I have multiple tournament accounts?
- What is the Trading Challenge and Cleo Backtesting Platform?
- What happens if I break the trading rules?
- How do I set a stop-loss?