In the prop
trading industry, Forex (FX) has undeniably been the dominant market, as it’s
where retail investors most frequently want to trade. While cryptocurrencies
occasionally appear in offerings, they’re typically part of separate firms.
Hydra Funding aims to change this, claiming to be the first to offer accounts
that allow trading in both FX and digital assets.
Trade Dollar and Bitcoin
with One Prop Firm
Earlier
this week, Hydra Funding announced the introduction of a new type of trading
account. From now on, clients of this prop trading company will be able to
trade both traditional currency pairs and over 30 cryptocurrency pairs.
For the two
most popular tokens, Bitcoin (BTC) and Ethereum (ETH), Hydra offers maximum
leverage of up to 5:1, while for other altcoins, it’s 2:1. Cryptocurrency
accounts are available from $5,000 to $200,000, with a payout share of 90%.
What other cryptocurrencies are included in Hydra Funding’s offering besides BTC and ETH? According to the prop firm’s website, these include BNB, LINK,
SOL, MKR, and LTC, among others.
Although
Hydra Funding’s website doesn’t provide specific details on how digital tokens
are traded, it’s reasonable to assume that, like FX pairs, they are also CFDs.
Crypto Enters the Prop
Trading World
As
mentioned above, the prop trading world is dominated by FX CFDs. However, firms
are starting to emerge that want to attract those interested in
cryptocurrencies to the prop industry as well.
One such
company is Crypto Fund Trader, which has been operating in the market for some
time. A few months ago, it expanded its offering to include additional accounts
that are based on crypto futures contracts rather than crypto CFDs.
Finance
Magnates also
reported this week that Funded Friends, a prop trading firm founded earlier
this year, announced it would cease operations and be acquired by rival
TradingFunds, according to a statement from CEO Arjo Janssens.
In the prop
trading industry, Forex (FX) has undeniably been the dominant market, as it’s
where retail investors most frequently want to trade. While cryptocurrencies
occasionally appear in offerings, they’re typically part of separate firms.
Hydra Funding aims to change this, claiming to be the first to offer accounts
that allow trading in both FX and digital assets.
Trade Dollar and Bitcoin
with One Prop Firm
Earlier
this week, Hydra Funding announced the introduction of a new type of trading
account. From now on, clients of this prop trading company will be able to
trade both traditional currency pairs and over 30 cryptocurrency pairs.
For the two
most popular tokens, Bitcoin (BTC) and Ethereum (ETH), Hydra offers maximum
leverage of up to 5:1, while for other altcoins, it’s 2:1. Cryptocurrency
accounts are available from $5,000 to $200,000, with a payout share of 90%.
What other cryptocurrencies are included in Hydra Funding’s offering besides BTC and ETH? According to the prop firm’s website, these include BNB, LINK,
SOL, MKR, and LTC, among others.
Although
Hydra Funding’s website doesn’t provide specific details on how digital tokens
are traded, it’s reasonable to assume that, like FX pairs, they are also CFDs.
Crypto Enters the Prop
Trading World
As
mentioned above, the prop trading world is dominated by FX CFDs. However, firms
are starting to emerge that want to attract those interested in
cryptocurrencies to the prop industry as well.
One such
company is Crypto Fund Trader, which has been operating in the market for some
time. A few months ago, it expanded its offering to include additional accounts
that are based on crypto futures contracts rather than crypto CFDs.
Finance
Magnates also
reported this week that Funded Friends, a prop trading firm founded earlier
this year, announced it would cease operations and be acquired by rival
TradingFunds, according to a statement from CEO Arjo Janssens.
This post is originally published on FINANCEMAGNATES.
