FTMO for Crypto traders

ftmo for crypto traders

Welcome to our comprehensive guide where we’ll delve into the world of proprietary trading firms, with a focus on FTMO and HyroTrader. Before we explore the specifics of these two platforms, let’s first understand what a prop trading firm is and how such firms function in the financial ecosystem. This article aims to equip you with the knowledge you need to navigate the prop trading landscape effectively.

What is prop trading firm?

A proprietary (prop) trading firm is a company that invests its own capital in financial markets, rather than the capital of clients. These firms engage in various types of trading activities, including stocks, bonds, currencies, commodities, and more recently, cryptocurrencies. Prop trading firms make profits by leveraging their trading strategies, market analysis, and risk management capabilities.

In the context of prop trading, especially in the forex and crypto markets, there’s a specific model that has become popular. Firms offer what’s often referred to as a “trading challenge” or evaluation process. Traders pay a fee to enter this challenge, and if they meet certain criteria set by the firm—like achieving a specific profit target without exceeding maximum drawdown limits—they are offered a funded account. This means the trader gets to manage a portion of the firm’s capital. Profits made with this account are split between the trader and the firm, usually in favor of the trader.

This model benefits both parties: traders get access to substantial capital without risking their own money (beyond the initial challenge fee), and firms can discover talented traders with effective strategies, thereby potentially increasing their profits. It’s important to note that these firms typically have strict rules and guidelines to minimize their risk, such as loss limits, maximum trade sizes, and prohibited trading hours or strategies.

What is FTMO?

FTMO is a proprietary (prop) trading firm that specializes in forex and CFDs, including cryptocurrencies, indices, commodities, and other trading instruments. Established to identify talented traders and provide them with funding to trade, FTMO offers a unique challenge and verification process. Traders who successfully pass this two-stage evaluation process are offered a placement in the FTMO trading program, where they receive a funded trading account.

The firm sets specific objectives for traders during the evaluation, such as profit targets and maximum loss limits, without imposing restrictions on trading styles or strategies. Traders who become part of the FTMO program can keep a significant portion of the profits generated (up to 90%), while FTMO covers all losses, effectively removing the financial risk from the trader.

FTMO is known for its supportive environment, providing educational resources, trading apps, and performance coaching to help traders improve their skills and performance. The firm’s business model is based on sharing the profits generated by the traders, aligning the interests of both the firm and its traders.

What is HyroTrader – crypto prop trading firm?

HyroTrader is a proprietary trading firm that specializes in serving crypto traders exclusively. HyroTrader offers a challenge and verification process. Traders who successfully complete this two-stage evaluation are granted access to the HyroTrader trading program, where they receive a funded trading account.

Traders have the chance to trade on the renowned ByBit platform and can keep up to 90% of the profits earned in their HyroTrader account. The firm allows trading in USDT Futures, USDC Contracts, spot trading, and options. 

These offerings position HyroTrader as a leading crypto proprietary trading firm in the market.

The firm’s business model is profit-sharing with the traders, ensuring that the interests of both the firm and its traders are aligned.

Why is HyroTrader different from FTMO?

HyroTrader distinguishes itself from FTMO by focusing exclusively on crypto traders, who prefer not to trade on traditional forex platforms such as MetaTrader, cTrader, or other CFD forex trading platforms.

HyroTrader has developed a product very similar to FTMO but tailored specifically for crypto traders. Real crypto traders seek platforms like ByBit, Binance, Kraken, OKX, and others for their activities.

The goal of HyroTrader is to offer the best trading conditions for crypto traders. Hyro Traders have the ability to trade USDT Futures, USDC Contracts, and engage in spot trading, whereas FTMO primarily offers CFD trading with a limited selection of cryptocurrencies. Currently, HyroTrader mainly partners with the ByBit platform but plans to include other crypto trading platforms in the future.

FTMO for crypto traders

HyroTrader is also developing its own trading platform for crypto futures trading, aiming to create an environment very similar to that of ByBit, Binance, and other crypto trading exchanges.

Additionally, HyroTrader plans to integrate web3 elements such as:

  • Trading Cashbacks: Traders will be able to connect their crypto exchange accounts and receive up to 30% back from trading fees.
  • Trading Bonuses: Traders will have the opportunity to earn HYRO Tokens by completing trading challenges. These tokens can be used to purchase other challenges, educational resources, products, or memberships.
  • Trading Competitions: Traders can participate in monthly trading competitions to win prizes. To enter, a trader simply needs to connect their trading platform via API and start trading.

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