Best crypto prop firms in 2026: ranked and compared

By Kraken Learn team
15 min
April 30, 2026
Key takeaways
  1. Crypto prop firms let traders access capital without risking their own funds, earning up to ~90% of profits after passing an evaluation.

  2. The opportunity is large but competitive, with fast-growing adoption driven by crypto markets.

  3. Key differences between prop trading firms matter, especially profit percentages, payout speed, and restrictive rules that can impact your ability to trade or withdraw profits.

  4. Platforms vary by trader type, from high leverage and real exchange execution to instant funding or long-term scaling incentives.

  5. As Kraken-aligned platforms, both Kraken Pro and Breakout stand out for their simplicity and reliability, combining fast payouts and clear-cut rules.


What is a crypto prop firm, and how does the evaluation model work?

A crypto prop firm funds traders with its own capital after they pass a structured evaluation. You pay a one-time fee, trade a simulated account to hit a profit target without breaching drawdown limits, and if you pass, the firm funds you. Depending on the platform, you keep the vast majority of profits (typically 75–90%), while the firm absorbs the market exposure. Unlike trading on a personal account, you are never exposed to losing more than the evaluation fee you paid to join the platform.

What makes crypto prop firms different from forex equivalents is the market itself. Crypto markets offer 24/7 trading, higher volatility, and stablecoin payouts (USDC/USDT) that settle in hours rather than days. That combination has driven the crypto prop trading market past $20 billion. Despite the widespread growth of the crypto market, estimates show that only around 7% of traders who enter an evaluation ever see a payout. That’s why choosing the right firm, and deeply understanding its mechanics and rules, can be a critical first step in your evolved trading strategy.

Best crypto prop firms in 2026: quick comparison

Here is how the leading crypto prop firms compare across the factors that matter most when choosing where to get funded. The table below covers account sizes, profit percentages, payout speed, and what makes each firm different.

FirmAccount sizesProfit percentagePayout speedKey differentiatorBest for
Breakout (via Kraken)$5K–$200K80–90%On-demand 12–24h USDCOnly Kraken-backed crypto prop firm; no consistency rulesInstitutional trust + clean simple rules
Kraken Pro Prop$5K–$200K80–90%On-demand 12–24h USDCSame Breakout infrastructure, fully native to Kraken Pro. Single, streamlined solution for Kraken ecosystem participants.Kraken Pro traders who want funded trading + those seeking additional products (margin, spot, xStocks)
BrightFunded1$5K–$400K80–100%Within 24h USDC/bankTrade2Earn loyalty tokens; scaling planLong-term scaling + loyalty rewards
HyroTrader2$5K–$200K80–90%12–24h USDT/USDCReal Bybit exchange execution via APIReal exchange execution traders
HydraFunding3Up to $200KUp to 90%48h, crypto/fiatInstant funding with no evaluation required; since 2022Traders wanting immediate funded access
WarBux4Up to $1M80-100%14 days, crypto/fiatdxTrader platform with TradingView charts; fiat payoutsSimplicity + fiat withdrawal options
Crypto Fund Trader5$2.5K–$200K80–90%8–24h stablecoinBybit partnership; 715+ tradeable assets; operating since Nov 2022Multi-asset traders + track record

1. Breakout — best independent crypto prop firm (2026)

Breakout is the only crypto prop firm owned by a major regulated exchange. Kraken purchased Breakout Trading Group LLC in September 2025, making it the only institutionally backed option in the crypto prop space, and the first time a top-tier regulated exchange entered proprietary trading through a full acquisition.

Breakout offers multiple evaluation paths with profit targets from ≈9% to ≈12%, no consistency rules, no minimum trading days, and on-demand USDC payouts with an 80% default split upgradable to 90% at checkout. The platform runs on Breakout Terminal, available on web, iOS, and Android, with 62 crypto pairs and leverage of 5x on BTC/ETH and 2x on alts.

In the table below are the details that matter for funded traders: account sizes, evaluation targets, rules, profit percentage, payout mechanics, and platform specifics.

FeatureDetail
Account sizes$5,000–$200,000
Evaluation1-Step Turbo (≈9% profit target), 1-Step Classic (≈10%), 1-Step Pro (≈12%), or 2-Step (≈5% then ≈10%)
Daily loss limit≈3–4% depending on account type (≈3% Classic, ≈4% Pro/2-Step)
Max drawdown
(maximum drawdown limit applies. See full challenge rules)
≈3% (1-Step Turbo), ≈5% (1-Step Pro), ≈6% (1-Step Classic and 2-Step) — all static
Profit percentage80% default; 90% with add-on
Payout methodUSDC (ERC-20) via Fireblocks
Payout speedOn-demand 24/7; processed within 12–24 hours
Fee refundNo — fees are non-refundable once trading begins
Consistency rulesNone
Minimum trading daysNone
Time limitNone
News tradingAllowed
Leverage5:1 BTC/ETH; 2:1 altcoins
Crypto assets62 crypto pairs
PlatformBreakout Terminal (web, iOS, Android) — no MT5/TradingView
Trustpilot4.8–4.9/5 (860+ reviews)

Pros:

  • Only Kraken-backed crypto prop firm — strongest institutional trust signal in the space

  • No consistency rules, no minimum trading days, no time limit

  • On-demand USDC payouts within 12–24 hours

  • Multiple evaluation tiers with profit targets from ≈9%-12%, plus a 2-Step option

Cons:

  • Breakout Terminal only — no MT5, cTrader, or TradingView integration

  • Leverage capped at 5:1 BTC/ETH (lower than some competitors)

  • Maximum account size $200K

  • Evaluation fees are non-refundable once trading begins

Best for: Crypto traders who value institutional trust, fast on-demand payouts, and the simplest possible ruleset.

2. Kraken Pro – best integrated crypto props

Kraken Pro shines as an all-in-one platform, offering a prop trading platform deeply embedded in the Kraken ecosystem.

As with Breakout, Kraken Pro prop traders benefit from multiple execution paths (with profit targets ranging between ≈9-12%), with no minimum trading days and no consistency rules. On-demand payouts are deposited directly into traders’ Kraken wallets, and traders keep up to 90% of profits.

FeatureDetail
Account sizes$5,000–$200,000
EvaluationStarter (≈10% profit target), Intermediate (≈12%), Advanced (≈9%)
Daily loss limit≈3%
Max drawdown
(maximum drawdown limit applies. See full challenge rules)
≈6% (Starter), ≈5% (Intermediate), ≈3% (Advanced)
Profit percentage80% default; 90% with add-on
Payout methodUSDC (ERC-20)
Payout speedOn-demand 24/7; processed within 12–24 hours
Fee refundNo — fees are non-refundable once trading begins
Consistency rulesNone
Minimum trading daysNone
Time limitNone
News tradingAllowed
Leverage5:1 BTC/ETH; 2:1 altcoins
Crypto assets60 crypto pairs
PlatformKraken Pro terminal

Pros:

  • Delivers the Breakout experience from within the existing Kraken Pro interface — no additional accounts or platforms to navigate

  • Eligible payouts are deposited directly to clients’ Kraken wallets, which can be easily deployed into other ecosystem products

  • No consistency rules, no minimum trading days, no time limit

  • Multiple evaluation tiers with profit targets from 9% to 12%

Cons:

  • No standalone platform option (bundled into Kraken Pro, so it may not suit those seeking a pure props experience)

  • Leverage capped at 5:1 BTC/ETH (lower than some competitors)

  • Maximum account size $200K

  • Evaluation fees are non-refundable once trading begins

Best for: Existing Kraken users and traders looking for a robust prop trading platform, integrated into a wider ecosystem of crypto products.

3. BrightFunded — best for loyalty rewards and scaling

BrightFunded is a European prop firm launched in September 2023 under Bright Global FZCO, with offices in Amsterdam and Warsaw. It stands out for two features no other firm in this comparison offers. First, a scaling plan with a path to a 100% profit split. Next, a Trade2Earn loyalty programme that rewards every trade you place — win or lose — with tokens redeemable for free evaluations, split upgrades, and drawdown increases.

Every detail of BrightFunded's funded account structure: evaluation targets, rules, split mechanics, payout terms, and platform options.

FeatureDetail
Account sizes$5,000–$400,000 (30% account increase every 4 months via scaling)
Evaluation2-Step only (8% Phase 1 + 5% Phase 2)
Minimum trading days5 per phase (removable via paid add-on)
Daily loss limit5%
Max drawdown10%
Profit percentage80% default; 90% with add-on; 100% after 3rd scaling milestone
Payout methodUSDC (ERC-20) or bank transfer (EUR)
Payout speedWithin 24 hours guaranteed (avg 4–8h)
Payout frequencyMonthly at first, then bi-weekly. Weekly with paid add-on
Fee refundYes — with paid fee-refund add-on (~10% of challenge fee)
Consistency rulesNone
News tradingAllowed in evaluation; restricted 10-min window on funded accounts
Loyalty programTrade2Earn tokens — earned on every trade (win or loss)
Token useFree evaluations, profit split upgrades, drawdown increases
Crypto assets35 crypto assets
PlatformsMT5, cTrader, DXtrade
Trustpilot4.4–4.6/5 (500+ reviews)

Pros:

  • Trade2Earn token system rewards every trade — even losses earn tokens toward free evaluations

  • Path to 100% profit percentage via scaling milestones (~12 months)

  • Scaling plan with 30% account increase every 4 months

  • Multi-platform support: MT5, cTrader, DXtrade

Cons:

  • 5 minimum trading days per phase — can slow down faster traders

  • Monthly payouts by default; bi-weekly/weekly require paid add-ons

  • Funded accounts restrict news trading within 10-minute windows

  • Fee refund requires a separate paid add-on — not included by default

Best for: Traders who want to compound gains through a loyalty system and scale to a 100% profit percentage over time.

For a detailed head-to-head, see our full Breakout vs BrightFunded comparison.

4. HyroTrader — best for real exchange execution

HyroTrader is a crypto-only prop firm based in Bratislava, Slovakia (EU), operating since 2020 with 30,000+ traders and $3.5M+ in verified payouts. Its defining feature is real exchange execution — trades go through Bybit's actual order book via API, meaning your fills, spreads, and order book depth are identical to what you would see on a personal Bybit account.

HyroTrader's full account structure: evaluation format, rules, split mechanics, payout terms, and the mandatory stop-loss policy that sets it apart from every other firm on this list.

FeatureDetail
Account sizes$5,000–$200,000 (scaling to $1,000,000 USDT)
Evaluation1-Step (10%) or 2-Step (10% Phase 1 + 5% Phase 2)
Minimum trading days10 days (1-Step) / 15 days (2-Step)
Daily loss limit4% trailing (1-Step) / 5% trailing (2-Step)
Max drawdown6% (1-Step) / 10% static (2-Step)
Profit percentage80–90%
Payout methodUSDT or USDC stablecoins only (no fiat)
Payout speedOn-demand after $100 minimum; typically 12–24 hours
Payout minimum$100
Max withdrawal per payout5% withdrawal amount in single payout
Fee refundYes — fee refunded on first funded payout
Stop-loss requiredYes — must be set within 5 minutes of every trade; strictly enforced
Consistency ruleNone after evaluation; 40% profit distribution rule during evaluation only
ExchangeBybit API (real exchange) or CLEO platform (Binance data, no country restrictions)
LeverageUp to 100:1 on CLEO; varies by pair on Bybit
Crypto assets700+ crypto pairs
Established2020
Trustpilot4.3/5 (191 reviews)

Pros:

  • Real Bybit exchange execution via API — fills match personal Bybit account fills

  • Refundable evaluation fee on first payout

  • Scale to $1M USDT with consistent performance

  • On-demand payouts with no waiting periods after $100 threshold

Cons:

  • Starting profit percentage of 80%, in line with the major crypto prop firms

  • Mandatory stop-loss within 5 minutes — one trader reported losing an $8K funded account for removing a stop-loss for 8–10 seconds

  • 40% profit distribution rule during evaluation limits high-conviction, low-frequency traders

  • USDT/USDC only — no fiat bank transfer option

  • US traders must use CLEO platform (Bybit restricted in US)

  • 5% maximum withdrawal cap per payout

Best for: Traders who specifically want real Bybit exchange execution and can work within strict stop-loss requirements.

For a detailed head-to-head, see our full Breakout vs HyroTrader comparison.

5. HydraFunding — best for instant funding without an evaluation

HydraFunding is an independent crypto prop firm that has been funding traders since 2022. Its core differentiator is instant funding: you pay for a funded account from day one and begin trading immediately, with no evaluation phase required.

HydraFunding's full account structure: instant access model, profit splits, payout lock feature, and the terms that apply once you are funded.

FeatureDetail
Account sizesUp to $200K
EvaluationNone required — instant funding from day one
Profit percentage75% to start, up to 90% with add-on
Payout methodUSDC, ETH, BTC, or fiat via RiseWorks
Payout speed48h, crypto/fiat
Payout lockProfits secured even if funded account breaches after payout approval
Leverage5:1 BTC/ETH, 2:1 alts
Consistency rulesYes — most profitable day must not exceed 15% of total profits
Fee refundNo — instant account fees are non-refundable once activated
Established2022
TrustpilotGrowing track record

Pros:

  • Instant funding — no evaluation required, trade from day one

  • Payout lock feature: once a payout is approved, it is yours even if the account later breaches

  • Multiple payout currencies including fiat via RiseWorks

  • Operating since 2022 with consistent payout track record

Cons:

  • Instant funding accounts cost more upfront than evaluation-based alternatives

  • Fees are non-refundable once activated

  • Payouts processed within 48 hours in crypto or fiat

  • Drawdown rules still apply — breach them and the account closes regardless of instant access

  • Smaller body of independent review data compared to more established firms

Best for: Experienced traders with a proven strategy who want immediate funded access without an evaluation and value flexible fiat payout options.

For a detailed head-to-head, see our full Breakout vs HydraFunding comparison.

6. WarBux — best for TradingView charting and fiat payouts

WarBux is a newer crypto prop firm operating under Warbux LLC, affiliated with Prop Account LLC. It runs exclusively on dxTrader with native TradingView charting integration — a familiar interface for chart-based traders — and offers one of the broadest fiat payout options in the space, supporting 90+ currencies via Rise.

WarBux's full account structure: evaluation options, rules, the 33% consistency rule, payout methods, and what prospective traders should verify before committing.

FeatureDetail
Account sizesUp to $1M
Evaluation1-Step, or Instant
Profit percentage80-100%
Consistency ruleYes — most profitable day must not exceed 33% of total profits (can bump to 35% with add-on)
Stop-loss requiredNo
Payout methodETH, BTC, USDC via Columis; 90+ fiat currencies via Rise
Payout speed14 days, crypto/fiat
Payout minimum$100
PlatformdxTrader with TradingView charting integration
Weekend tradingAllowed
Inactivity ruleAccount breached after 30 consecutive days with no trading
EstablishedNewer entrant — limited independent review history as of 2026
TrustpilotLimited independent reviews — newer firm

Pros:

  • dxTrader platform with TradingView charting — familiar interface for chart-based traders

  • 90+ fiat currencies via Rise — most flexible payout currency options in this comparison

  • No stop-loss required

  • Weekend position holding allowed

  • Path to a 100% profit percentage, with 90% available via add-on

Cons:

  • 33% consistency rule — no single trading day can exceed 33% of total profits before payout eligibility

  • 14-day payout schedule — slower than most competitors

  • Limited verified payout history as a newer firm

  • Account sizes scaling up to $1M

  • dxTrader only — no MT5, cTrader

Best for: Traders who want TradingView-integrated charting and need fiat withdrawal options in local currencies.

For a detailed head-to-head, see our full Breakout vs WarBux comparison.

7. Crypto Fund Trader — track record since November 2022

Crypto Fund Trader (CFT) is one of the longest-operating crypto prop firms, having run continuously since November 2022 under Swiss RLCRATES AG, registered in Zug, Switzerland. The firm has reportedly processed over $18 million in trader payouts and maintains a strategic partnership with Bybit for exchange-grade execution across 715+ tradeable assets spanning crypto, forex, indices, commodities, and stocks.

CFT's full account structure: evaluation options, Instant Challenge track, profit splits, payout terms, and the $10,000 daily profit cap that traders should understand.

FeatureDetail
Account sizes$2.5K–$200K
Evaluation1-Phase or 2-Phase challenge; Instant Challenge also available
Profit percentage80% default; 90% with add-on
Payout methodStablecoin denominated
Payout speed8–24 hours
Anti-gambling / profit cap$10,000 daily and/or per-trade profit limit
Minimum trading days5 days (can be 0 with add-on)
Minimum days to request payout15 traded days, or 30 calendar days (can be reduced to 7 with add-on)
Consistency rules$10,000 anti-gambling rule functions as a de facto consistency restriction
Fee refundNon-refundable
Exchange partnershipBybit (strategic partnership)
Tradeable assets715+ (crypto, forex, indices, commodities, stocks)
LeverageUp to 100x (varies by instrument and platform)
PlatformMT5, MatchTrader, or Bybit
EstablishedNovember 2022

Pros:

  • Operating since November 2022 — one of the longest track records in crypto prop trading

  • Bybit strategic partnership provides genuine exchange-grade execution

  • 715+ tradeable assets across multiple asset classes

  • Instant Challenge option skips standard evaluation and places traders directly into a funded account

  • Scaling to $1.28M in simulated capital via Instant Challenge track

Cons:

  • $10,000 daily/per-trade profit cap — trades generating more can be flagged

  • Minimum 15 traded days or 30 calendar days before payout can be requested (reducible to 7 with add-on)

  • Swiss RLCRATES AG entity registered March 2024; firm claims operations since November 2022 under a prior entity

  • Fees are non-refundable

Best for: Multi-asset traders who want a firm with a proven multi-year payout history and access to Bybit's execution infrastructure.

For a detailed head-to-head, see our full Breakout vs Crypto Fund Trader comparison.

How to choose the right crypto prop firm for your trading style

Picking the wrong prop firm costs more than just the evaluation fee, it costs the time you spend learning a ruleset that works against your strategy. Here is a practical framework for matching a firm to your trading approach.

1. Check the profit percentage, and what it costs to get there

The 2026 industry floor is 80%. Look for firms that start at 80% and offer a path to 90% without expensive add-ons. Be cautious of firms advertising 100% splits if achieving that requires 6+ months of consistent performance. At 80% on a $100K account generating $10,000/month in profit, you take home $8,000. At 90%, that becomes $9,000 — an extra $12,000 per year for the same performance.

2. Verify payout speed and method independently

Marketing claims mean nothing without independent confirmation. Check Trustpilot and trader forums for recent payout confirmations with specific amounts and dates. Fast stablecoin payouts (12–24h in USDC or USDT) are the 2026 standard. Anything slower than 72 hours is a yellow flag. Fiat wire transfers taking 5–7 business days are acceptable for larger withdrawals only.

3. Read the rules before you buy, not after

The rules that end most funded accounts are not the profit targets — they are the consistency rules, stop-loss requirements, and single-trade profit caps that many traders miss. Before purchasing any evaluation, specifically check for:

  • Mandatory stop-loss? HyroTrader requires one within 5 minutes of every trade. Most others do not.

  • Consistency rule? WarBux enforces a 33% daily cap. HyroTrader uses a 40% distribution rule during evaluation. Breakout and BrightFunded have none.

  • Single-trade profit cap? Crypto Fund Trader caps at $10,000 per trade. Breakout has no cap.

  • Minimum trading days? BrightFunded requires 5 per phase. HyroTrader requires 10 (1-Step) or 15 (2-Step). Breakout requires none.

4. Assess the firm's credibility and longevity

Over 80 prop firms collapsed between 2024 and 2025. The criteria that matter:

  • Operating history — at least 12 months with verifiable payouts

  • Exchange or institutional backing — not just a logo, an actual partnership or acquisition

  • Named founding team and verifiable company registration

  • Independent Trustpilot reviews with specific payout amounts and dates — not generic praise

5. Match the platform to your strategy

The crypto trading tools available to you vary significantly by firm:

  • Trade BTC/ETH on a proprietary terminal: Breakout

  • Seeking deep ecosystem integration: Kraken Pro

  • Need MT5 or cTrader: BrightFunded

  • Want real Bybit exchange execution: HyroTrader

  • Prefer TradingView charts: WarBux (dxTrader)

  • Want instant funding with no evaluation: HydraFunding

6. Understand the fee refund structure

HyroTrader refunds the evaluation fee on first funded payout. BrightFunded offers a fee refund with a paid add-on. Breakout, Kraken Pro, HydraFunding, and WarBux do not refund fees once trading begins. Factor this into your true cost of evaluation — a cheaper challenge fee that is never recovered may be more expensive than a slightly higher fee that comes back on your first payout.

Start prop trading today

Most crypto prop traders don’t fail because of the market — they fail because they choose the wrong environment. Hidden rules, slow payouts, and unnecessary restrictions quietly work against you long before your strategy has a chance to prove itself.

That’s why your choice of prop firm matters as much as your trading edge. If you’re going to invest time and money into an evaluation, it should be with a platform built to let you perform, not one that limits you.

Both Kraken Pro and Breakout emerge as friction-free offerings for traders: harnessing the same technology and the track record of a major regulated exchange, their on-demand payouts, lack of consistency rules and zero time pressure make them excellent venues for those getting started.

Already deep in the Kraken ecosystem? You’re already most of the way there. Just sign into Kraken Pro with your existing credentials to get access to your prop-trading toolbox.

Starting fresh? Take your trading strategy to the next level with Breakout.

Frequently asked questions (FAQs)

Breakout and Kraken Pro are the strongest option for US-based traders — both are accessible through their respective terminals, with no platform restrictions. HyroTrader requires US traders to use the CLEO platform since Bybit is restricted in the United States. BrightFunded limits US traders to DXtrade only. Always verify current regional availability directly with each firm before purchasing.

Check three things: independent Trustpilot reviews citing specific payout amounts and dates, the firm's operating history (at least 12 months of verifiable payouts), and whether the firm is backed by or partnered with a regulated exchange. Breakout's Kraken acquisition and 860+ Trustpilot reviews at 4.8–4.9/5 represent the strongest verification signal in this comparison.

Yes, but it requires consistent performance and realistic expectations. On a $100K funded account with an 80% profit split, generating 5% monthly profit ($5,000) yields $4,000/month take-home. Scaling to a $200K account at 90% split and the same 5% monthly return produces $9,000/month. The maths works — but only around 7% of traders who start a prop firm evaluation ever reach a payout. Discipline, risk management, and a tested strategy are prerequisites, not bonuses. Before purchasing any evaluation, make sure your crypto trading strategies have been tested and refined.

The account is closed immediately and cannot be reinstated. Any unrealised profits at the time of breach are forfeited. The evaluation fee is not refunded (it was already consumed when trading began). You can purchase a new evaluation and start again at any time. This applies across all firms in this comparison — drawdown limits are the primary risk control in every prop trading programme. For a full explanation, see our guide to prop firm drawdown rules.

Sources

  1. BrightFunded (July 2026)

  2. HyroTrader (July 2026)

  3. HydraFunding (July 2026)

  4. WarBux (July 2026)

  5. Crypto Fund Trader (July 2026)

Important disclosures

Important Disclosures about Breakout Trading Group LLC (“Breakout”), Payward Oceanic Ltd. (“POL”) and the Funded-Trader Program.

This product may be accessed through the Kraken user interface but it is not a regulated product and is offered by Breakout and POL.

Breakout’s and Kraken Prop Trading’s evaluation program is intentionally rigorous and designed to verify a trader’s risk-management skill and strategy discipline before any proprietary capital is allocated. Most applicants do not pass on their first attempt and there is no guarantee that your performance will improve or that you will pass any future evaluations. Prospective traders should purchase an evaluation only if they are confident in their trading ability and accept the risk of not qualifying for a funded account. Evaluation fees are non-refundable for each attempt once trading begins, regardless of outcome.

If you pass the evaluation phase and become a funded trader (“FT”) with POL, all market-facing transactions, if any, are carried out exclusively by POL, for POL’s own principal account and at its sole discretion. POL has discretion to determine which order type (A or B-book) it will apply. FTs do not own any trading account or position, and hold no beneficial or proprietary interest in POL’s accounts, assets or trades. When an FT submits a trade idea, POL may, in its absolute discretion, either (i) record the idea as an internal, administrative book entry and calculate a hypothetical result without routing any order externally, or (ii) accept the idea for POL’s proprietary book and route the transaction to a market maker or exchange. FTs have no control over, or visibility into, the method POL selects.

When a funded trader’s balance hits the max-loss line, POL is released from any liability to pay future performance fees — so POL’s financial interest is opposite to yours. POL may receive financial incentives from third parties based on trade ideas provided by FTs. Any such revenue is retained solely by POL and is not shared with FTs. Because such financial incentives are not included in PnL for FTs, conflicts of interest may exist between POL and each FT. FTs should carefully consider these conflicts before participating. In addition, because Breakout earns fees each time an evaluation trader fails and then re-purchases an evaluation, conflicts of interest may also exist between Breakout and each evaluation trader.