HyroTrader is a proprietary trading firm established in 2023, headquartered in Bratislava, Slovakia. The company focuses on providing funding for cryptocurrency trading, aiming to meet the needs of professional traders through a variety of products and flexible services. Below is a detailed analysis of HyroTrader.

Key Features

• Trading Products: HyroTrader allows traders to engage in cryptocurrency spot, futures, and options trading. The assets available for trading include all cryptocurrencies listed on the ByBit exchange, such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), Binance Coin (BNB), and many others.

• Account Balances: HyroTrader offers multiple account options with balances ranging from $5,000 to $1,000,000, allowing traders to select an account size that suits their needs.

• Fees: Account fees start at $89, with the maximum fee reaching $599. All fees are collected upfront during registration with no additional hidden charges.

• Profit Split: HyroTrader provides up to 90% profit split, meaning traders can retain 90% of the trading profits, while HyroTrader retains 10%.

• Platform: Trading is conducted through the ByBit platform, a well-known cryptocurrency trading platform known for its efficiency and stability.

Advantages and Disadvantages

Advantages

1. Real Cryptocurrency Trading: Unlike many firms that offer only CFDs, HyroTrader allows actual cryptocurrency trading through ByBit sub-accounts, providing a more authentic market experience.

2. Variety of Trading Tools: The firm supports cryptocurrency spot, futures, and options trading, catering to different trading needs.

3. High Leverage: Offers leverage up to 1:100, suitable for professional traders looking to maximize returns amidst market volatility.

4. Refundable Challenge Fee: The challenge fee is refundable upon the first profit split, reducing the initial financial risk for traders.

5. Transition from Demo to Real Capital: Traders can transition from a demo account to trading with real funds, lowering the barrier to entering the live market.

Disadvantages

1. Limited Payment Methods: Currently, only cryptocurrency payments are accepted, which may not suit those preferring other payment methods.

2. Restricted Trading Instruments: The firm only supports cryptocurrency trading, limiting options for traders interested in stocks, forex, or other asset classes.

Account Information and Rules

Account Sizes

HyroTrader offers five account balance options:

• $5,000
• $10,000
• $25,000
• $50,000
• $100,000

Challenge Rules

1. HyroTrader Challenge:

   • Minimum Trading Days: 10 trading days
   • Challenge Duration: No time limit; traders can adjust the trading period according to their needs.
   • Maximum Daily Loss: 5% of the initial account amount
   • Maximum Loss: 10% of the initial account amount. Once the account profit reaches 10%, the maximum drawdown is locked at the initial account amount.
   • Profit Target: 10%

2. HyroTrader Verification

   • Minimum Trading Days: 5 trading days
   • Challenge Duration: No time limit; flexible trading period.
   • Maximum Daily Loss: 5% of the initial account amount
   • Maximum Loss: 10% of the initial account amount. Once the account profit reaches 10%, the maximum drawdown is locked at the initial account amount.
   • Profit Target: 5%

Automated Trading and Trials

• Automated Trading: The use of ByBit’s pre-configured, no-code trading bots is supported, allowing traders to select appropriate automated strategies.

• Trial and Discounts: No free trials are offered, but a 10% discount is available using the discount code “QL1JUG5” at registration.

• Rule Violations and Repeats: No free repeats are offered; traders must adhere strictly to the rules. Violating rules can result in account termination, but traders can reapply for the challenge if desired.

Trading Platform and Hours

• Platform: Trading is conducted via the ByBit platform, known for its stability and efficiency, suitable for various trading strategies.

• Trading Hours: Trading is permitted 24/7, including weekends. There is no mandatory position closure, making it suitable for traders who prefer holding positions overnight or over the weekend.

News Trading

Trading during news events is allowed, though it is important to manage risks carefully. The cryptocurrency market reacts differently to news compared to traditional markets, so traders should employ appropriate risk management strategies to avoid potential losses.

Summary

HyroTrader, as a new entrant in the proprietary trading space, offers high leverage, real cryptocurrency trading, and a high profit split, making it an attractive option for professional traders. Despite some limitations, such as its payment methods and trading instrument restrictions, its flexible challenge rules and efficient trading platform make it a compelling choice for those looking to leverage opportunities in the cryptocurrency market.