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.