Best Crypto Prop Trading Firms 2024 To Watch Out For! (2024)

The crypto market has boundless opportunities for traders to enjoy high profits. However, with high rewards come high risks. Only some traders have the risk appetite or the capital to venture into cryptocurrencies. At this point, a crypto proprietary trading firm comes in as a bridge that connects the potential of crypto markets for both beginners and professional traders. We have evaluated the best crypto prop trading firms available in the market, breaking down their features, functions, evaluation process, fees, pros and cons, and more.

List of the Best Crypto Prop Trading Firms 2024 – Our Picks:

The Trading Pit – Best for Multi-Asset Trading
Crypto Fund Trader – Ideal for Crypto futures enthusiasts
FTMO – Most Reliable Crypto Trading Firm
Myfundedfx – The Most Trader-Friendly Prop Firm
Lux Trading Firm – Best for Crypto Traders

Top Prop Trading Firms for Crypto 2024 – Detail Review

1. 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 has a one-step trading challenge and keeps up to 80% of the profits. It is esteemed to provide trading opportunities across various trading assets, including 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, choose a challenge, and show trading skills as crypto prop traders
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

Pros

Objectively reasonable challenges starting at $99
Power of multi-asset trading, including CFDs, futures, and Crypto
Low entry threshold, offering favorable cooperation conditions
Lots of educational articles, webinars, and guides
Essential trading tools, including a calculator, economic calendar, and more

Cons

Lack of free plans or demo trading accounts
High experience and qualification requirements in challenges for experienced traders

2. Crypto Fund Trader

Crypto Fund Trader is the best 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 proprietary trading focuses on evaluating the capabilities of every new and experienced trader and helping them witness professional growth through crypto trading. 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%
Registration Fees – One-time registration fee
Evaluation Process – Two Funded Trader Programs have one/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

Pros

Low funding barriers with a $50 registration fee and $5000 funding capital.
Retains only 20% of the profits and shares 80% with crypto traders.
No time restriction for evaluation
KYC verification via CoilScope ensures security and responsible crypto and forex trading
Freedom of crypto news trading
No recurring trading fees

Cons

3. FTMO

FTMO is one of the best proprietary trading firms used by hundreds and thousands of successful funded traders who can initiate their trading career with a maximum capital of $400,000 and a maximum leverage of 1:100. It supports a wide range of trading platforms, payment systems, crypto assets, and trading instruments. Both challenge and verification stages are essential to gauge the potential of prospective traders. The business model of FTMO is essentially based on successful traders – the more profits generated, the more revenue the firm makes through shared gains.

Features

Profit split – Up to 90%
Registration Fees – one-time fees, $155 refundable for FTMO Challenge
Evaluation Process – FTMO Challenge, Verification, FTMO Trader earns real money
Supported Cryptocurrency – Bitcoin, Ethereum, Litecoin, Ripple, Dash, Monero, Cardano, Dogecoin, Polkadot, and NEO
Leverage For Crypto – 1:100
Max Capital – $400,000 per strategy/trader
Price Compared To Another Platform – Moderate

Pros

Multiple available cryptocurrencies and fiat currency
Shares 90% of profits with a revenue share model
A refundable fee after the evaluation process
Offers valuable support and educational resources to achieve financial success

Cons

Investors need to complete two stages for the evaluation process and verification.
Not suitable for derivatives, stocks, and futures trading

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4. Myfundedfx

Crypto and forex traders looking for the best prop firms in the prop trading arena can check out MyFundedFX and access considerable capital with maximum offerings of $600,000 and profit sharing of 80%. MyFundedFX prop trading firms offer a two-step challenge, including the evaluation and funding phases. Unlike other crypto trading prop firms, MyFundedFX has no minimum trading day requirement. MyFundedFX gives traders unlimited time to reach targets. The platform has simple trading rules for various trading styles, including swing and news trading.

Features

Profit split – up to 80%
Registration Fees – Refundable registration fee of $50
Evaluation Process – Take the challenge, get verified, and give a live simulated account
Supported Cryptocurrency – 20 crypto coins including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Stellar Lumens, Avalanche, Polkadot, Chainlink, Solana, and Uniswap
Leverage For Crypto – 100:1
Max Capital – $600,000
Price Compared To Another Platform – Medium to High

Pros

Fast funding in a single process
Advanced trading platforms for crypto trading with EightCap
Up to $1.5 million in capital
Generous profit split of 80%
Excellent reputation with minimum negative reviews

Cons

Limited educational resources
No demo or free trial feature

5. Lux Trading Firm

Lux Trading Firm is a career training program that exposes every trader to the crypto market and teaches them how to trade responsibly. They are regarded as one of the best prop trading firms. Users can change their fully funded accounts with a maximum capital of $10,000,000. The proprietary trading software offers a free trial. With three simple steps, users can get supported without any time limits. The programs include educational resources on Crypto and other financial instruments and mention the rules of engagement with profit sharing of up to 75%.

Features

Profit split – up to 75%
Registration Fees – 50% refund fee for the demo account
Evaluation Process – Performed on the demo account
Supported Cryptocurrency – Over 500 supported crypto, including Bitcoin, Ethereum, Litecoin, USD Tether, and more
Leverage For Crypto – 1:5
Max Capital – $10,000,000
Price compared to another platform – High

Pros

A tremendous amount of capital of up to $10 million
Open an account with $200,000 and perform quick scaling in six stages
An array of tradable assets, including stocks, bonds, crypto, CFDs, and other financial instruments
No time limit to hit profit targets
Multiple trading platforms, including TradingView, Trader Evolution, and MetaTrader 4

Cons

High refundable fees
75% profit splits lower than industry-average
No current promotions or discounts

What Are Crypto Prop Trading Firms?

Crypto prop firms is a facilitator that allows professional traders a path to navigate the dynamic crypto markets. Many prop firms in Crypto provide attractive propositions by enabling traders to amplify their profits and minimize personal risk. While undergoing the process, crypto prop trading earnings are generated from the orders executed on the best crypto prop trading platforms. These firms differ from traditional forex prop trading firms as they focus on the cryptocurrency market that operates 24×7 and is famous for its high volatility.

On the other hand, the traditional prop trading domain involves trading forex funds, stocks, trading stocks, and other financial assets with variable volatility levels and regular market hours.

How Do Prop Firms for Crypto Work?

Many prop trading firms provide access to crypto funds, resources, and innovative trading tools to thrive in the crypto market and allow them to make rational trading decisions and maximize profits. Prop firms that offer Crypto lend large amounts of cryptocurrency and will enable them to use market opportunities to make profits that would otherwise not be accessible using their funds. Using the company’s capital helps traders eliminate risks and employ robust hazard management strategies.

Benefits of Working With a Crypto Prop Trading Firm

Proprietary trading firms in the cryptocurrency market provide many benefits to crypto prop traders, some of which have been discussed below –

- Access To Capital And Trading Infrastructure

One of the main benefits of working with a crypto prop trading firm to trade Crypto is easy access to crypto and forex funds for trading activities. This allows traders to leverage prominent positions and maximize profits without capital risk.

- Reduced Trading Risks And Expertise In Risk Management

Using a company’s capital and crypto and forex funds helps traders reduce their trading risks since the company mostly takes care of the losses instead of their money.

- Opportunities For Professional Development And Mentorship

Successful crypto traders at a crypto prop trading firm may have various avenues for growth and development within the crypto market, including access to increased profit shares, potential career advancement, and crypto and forex funds. This creates a pathway for professional development and mentorship.

- Potential For Higher Earnings And Profit-Sharing Arrangements

Prop traders can access additional money with a funded account, having more purchasing power to take more prominent positions and potentially earn more enormous profits.

Risks Associated With Crypto Prop Trading Firms

Using a crypto prop trading firm has various benefits for traders, but potential risks are also involved.

- The volatility of cryptocurrency markets and the potential for significant losses

A primary concern is the chance of experiencing high financial losses while working with crypto prop trading firms. Even after employing effective risk management and trading strategies, there is a possibility for significant losses as the crypto market is highly volatile.

- Exposure To Counterparty Risk And Potential For Fraud

There is also a probability of experiencing counterparty risk that leads to default transactions on the contractual obligation. Different degrees of counterparty risk may exist where individuals and companies cannot make their payments on debt obligations.

- Reliance On The Firm’s Trading Expertise And Risk Management Practices

With the lack of coherent regulations surrounding Crypto, there are few protections against unethical or deceptive management practices. Moreover, the crypto market is relatively new, and these prop trading firms are primarily at their infant stage. Therefore, traders may need to employ proper risk management strategies such as continuous risk monitoring and assessment, loss reduction and prevention, and more.

How To Choose A Crypto Prop Trading Firm

Before traders choose a crypto prop trading firm, it is crucial to consider many factors that may significantly affect the overall trading process. Here are essential considerations that traders need to keep in mind while selecting the best prop trading website for trading cryptocurrencies –

- Track Record Of Performance And Transparency

Conduct extensive research on the track record and reputation of the chosen firm. Select a prop trading website that performs well and has a long history of excellent reviews and successful trading.

- Regulatory Compliance And Licensing Status

There are thousands of liquidity providers in the market, but not all are trustworthy and reliable. Choose a well-equipped crypto property firm that complies with the regulations of its jurisdiction and is regulated and licensed by a well-known regulatory body.

- Reputation Within The Crypto Community And Industry Recognition

Join a crypto prop trading firm that fosters a sense of community and has an excellent reputation in the industry. This facilitates accessible networking opportunities with other professional traders and allows them to engage with the crypto community of like-minded people who can provide support, valuable insight, and opportunities for further collaboration.

- Trading Platform And Technology Infrastructure

A good prop trading firm will have all the required risk management strategies and tools for trading cryptocurrencies. Consider a firm’s trading platforms and its approach toward dangers to determine whether they align with the trading style of the funded traders.

- Compensation Structure And Profit-Sharing Model

Assess the crypto trading firm’s compensation structure and profit targets. Different companies have varied expectations of all performance goals traders expect to achieve.

Is Crypto Proprietary Trading Legal?

The legality of crypto prop trading requires careful understanding and consideration since the answer may vary based on the traders’ jurisdiction. While crypto prop trading is usually considered legal in several countries, it is subject to specific laws and regulations governing crypto trading in a particular region.

Safety Measures While Trading With a Crypto Prop Firm

While trading with these firms, traders must remain safe by conducting extensive research, understanding the risks involved, setting limits, being wary of the promises of getting high potential returns, and monitoring the trading account. To stay safe, traders must also choose a firm with an excellent track record, examine their liquidity, understand the minimum trading days and strategies, and learn about the fees involved.

Conclusion

To conclude, prop trading firms in crypto are the trading desks of the future that merge traditional trading knowledge with cryptocurrency dynamism. Regarding potential returns, the sky’s the limit. Still, conducting meticulous research, having grounded expectations, and being committed to learning about crypto trading before using a prop trading firm are essential.

Prop Firm Evaluation: Delving into Our Methodology

Difficulty: Challenges or evaluations are relatively more straightforward for beginners, requiring only a few simple steps such as registration, performing a few skill-based tasks, and verification.
Trading platforms: Our list of forms supports several trading platforms, such as MetaTrader 4 & 5 and proprietary crypto web/mobile trading platforms.
Customer support: The top prop firms mentioned above have efficient and responsive customer support that assists via live chat and other channels for traders’ benefit.
Profit split: Most of the firms in our list of crypto prop firms have a profit split between 75% and 90%, usually on their own capital for a funded trader.
Instruments: Traders can use many instruments, including forex, Crypto, indices, commodities, stocks, CFDs, derivatives, etc.
Cost: On average, a crypto-funded account costs range between $100 to $1000.

FAQs

Are Crypto Prop Trading Firms Regulated?

Since cryptocurrency prop firms involve trust-based businesses, regulators need to protect the interests of the traders. However, since prop trading firms do not manage the trader’s funds, ideally, they may only sometimes be regulated like the brokers.

Do Prop Trading Firms Provide Leverage for Trading?

Yes, leverage is available on crypto prop firms, allowing traders to have substantially more purchasing power than the funds in their accounts. Often, they hold positions overnight with the trading done.

What Fees Are Typically Associated With Prop Trading Firms?

Proprietary trading firms usually require an upfront capital contribution or fees from a trader before making them a funded trader. At times a user could be charged with a refundable registration fee. These usually happen with the best prop trading firm for cryptos.

Are There Any Minimum Capital Requirements To Start Trading?

No particular amount is required as minimum capital to start trading with a crypto prop firm. However, you need an optimum funded account to start your journey.

What Strategies Do These Firms Typically Employ?

Prop traders can typically employ volatility arbitrage, global macro trading, index arbitrage, or merger arbitrage to maximize their returns. At times they share the profit target too

Can I Withdraw My Funds Easily From Such A Firm?

Yes, many traders withdraw funds only when they have positive account performance. This means traders cannot withdraw the initial capital the cryptocurrency trading firms have given them but only the profits they have earned.

Do Crypto Prop Firms Offer Demo Accounts For Beginners?

Unlike many other trading platforms that allow traders to begin their journey using a demo account, a crypto prop firm usually does not offer a demo account. However, there may be a free trial on some of the platforms mentioned above. Later, the user must work with their capital that excels.

Are There Taxes For Profits Made Through Crypto Trading Firms?

Yes, two types of crypto taxes may be levied on the profits made through cryptocurrency trading firms. However, it depends on the numerical values of a thriving trading community. To promote Crypto, many governments need to be more into tax implications in favor of the trader’s benefit.

Can I use beginners in a crypto trading firm?

Yes, traders can initiate their prop trading journey without any formal background. You can excel as per your trading capacity and trading endeavors. All you have to have is funded accounts and the right trading strategy, and you’ll reach your desired profit target.