I don't often post about @Breakoutprop. But building something and getting acquired by Kraken is pretty cool. The product itself isn't that new. It has existed for over a decade in the FX and tradfi. The space has a bad reputation because so many of these products have historically been run by amateurs and grifters. "They don't actually pay out." "It's impossible to pass." "If you make any money, you get banned." And so on. You'd be sensible to avoid all these products simply on account of their reputation. But Breakout is meaningfully different. If it weren't, I wouldn't have spent the last 2 years of my life on it. And Kraken would've laughed us out of the room instead of acquiring us. We took something and made it crypto-native and simply better. The core value proposition is that your trading skill gives you leverage. Being undercapitalised sucks. When I started trading in early 2017 I had around 1000. All the risk management and position sizing content I consumed taught me to risk 1-2% per trade. If I risked 2% and made 2R (by all accounts a good trade) that would net me 40 before fees. I didn’t get into crypto to make 40. So the natural 'remedies' for that were to risk a lot more, punt on shitcoins/illiquid stuff, and eventually go down the leverage rabbit hole on BitMEX. Essentially: if you’re undercapitalised, you’re forced to take a lot more risk and you’re locked out of standard bread-and-butter trading because you’re size-constrained. You need to bet a lot more, win a few coinflips consecutively, and then you can afford the privilege of risking less per trade (as a % of your balance) and making decent money with smaller moves. Products like Breakout reward skilled traders by removing this intermediate step. If you have a bigger account, you can risk less and make more because the value of 1R is a lot higher. You can risk less per trade (as a % of balance) while keeping R meaningful. “It’s not really 100,000 because there are drawdown rules. It’s really a 5,000 account,” is the common retort. I do not think this framing is correct. Margin for error is not the same as capital base. If you risk 1% and make 2R on a 100,000 funded account, that’s 2,000. If you risk 1% and make 2R on a 5,000 account, that’s 100. Not to mention you get 5x leverage on BTC/ETH and x2 leverage on altcoins, all with a larger capital base on Breakout. “I can do the same by leveraging 1,000 on a CEX!” For argument’s sake, assume you have a 100,000 account and want to open a 100,000 position at Breakout (even though leverage allows for larger exposures). If you use 100x leverage with 1000 to open 100,000 on a CEX, bearing in mind variation in maintenance margin, you get liquidated on a ~0.5-1% move against you. If you open 100,000 position on a 1-Step 100,000 Breakout account, the earliest you breach a fresh account is on a ~4% move against you (4% maximum daily loss, excluding fees). The objection fails. The core value proposition remains: a larger capital base = 1R is meaningful = you can trade with better risk management without having to gamble. Boring maths aside, I genuinely believe for those interested in directional trading, Breakout is one of the best ways to grow a small account. “No one actually gets paid/you get banned if you make too much money.” Just our top 10 traders withdrew a total of 436,000+ in September, sent directly to their wallet in USDC. This is all tracked via our real-time leaderboard, which updates every time a withdrawal is made. Withdrawals are made on-demand, any number of times per day. That objection may apply to other places, but not at Breakout. “What if you lose money?” You lose the account - that’s it. You’re not on the hook for any losses. The only time you pay anything is to take the test. It’s like a call option: you pay the premium up front to fix your risk. Even on the worst day on the market, your losses are limited by the evaluation fee. Pretty good peace of mind compared to getting slipped massively on your personal account or liquidated on cross-margin. Look, this post is getting too long. I can do myth-busting all day, but Breakout is a cool, crypto-native tool that can serve undercapitalised traders, degen risk traders, traders looking to scale and operate within risk management guidelines, traders who want to keep their leverage away from their spot, traders looking to learn in a realistic environment without sinking all their money into a CEX, and a bunch of other cohorts. The industry sucks and is historically filled with scammers, so you should be sceptical. But Breakout has always been different, and now we’re backed by Kraken. If you’ve been doubtful before, I kindly ask that you check us out now. Don’t punish us for the morons that came before us. Cheers.(Cred)