Kraken Purchases Proprietary Trading Company Breakout for Broadened Advanced Trading Offerings
In a groundbreaking move, Kraken, a leading cryptocurrency exchange, has completed the acquisition of Breakout, a proprietary trading firm. This acquisition marks a significant expansion of Kraken's product suite, moving beyond traditional spot and derivatives trading.
Breakout's unique trading model provides evaluation-based funding for skilled traders. The model requires traders to demonstrate consistent strategy execution and risk discipline before receiving capital allocation. This approach enables talent identification without requiring substantial personal investment.
The evaluation process tests real market decision-making under pressure, rather than simulated trading scenarios. This rigorous approach aims to identify traders capable of consistent performance. Traders who successfully pass these assessments retain up to 90% of profits generated through funded accounts, with individual accounts capped at $100,000 in notional capital. Traders can maintain multiple accounts up to a total of $200,000.
However, traders must requalify if they breach risk thresholds or fail to maintain performance above predefined drawdown limits to retain funded status. The system also offers up to 5x leverage on Bitcoin and Ethereum contracts, providing traders with additional trading opportunities.
The integration of Breakout with Kraken Pro platform will provide seamless access for eligible users. Effective September 1, Breakout's "evaluation-first" model will be available to Kraken's client base.
The acquisition aligns with Kraken's focus on merit-based systems that reward demonstrated performance over traditional credentials. This move is expected to revolutionise the crypto trading landscape by offering a performance-based approach to capital allocation for skilled traders.
While the co-founder and CEO of Breakout are not explicitly mentioned in the available search results, the acquisition is set to bring about exciting changes in the world of cryptocurrency trading. Traders can now access up to $200,000 in notional capital after purchasing and passing performance assessments, with payments for these profits available on-demand.
In conclusion, the acquisition of Breakout by Kraken is a significant step towards a more performance-driven and accessible crypto trading landscape. This move is expected to attract skilled traders and provide them with the opportunity to grow their trading careers in a supportive and merit-based environment.
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