Breakout review
Breakout is a crypto-native prop trading firm founded in 2023 by Alex Miningham and Dylan Loomer, registered offshore as Breakout Trading Group LLC in Saint Vincent & the Grenadines. In September 2025 it was acquired by Kraken for an undisclosed sum and folded into Kraken's infrastructure and liquidity, with compliance handled through Kraken's Payward Oceanic Ltd entity. It sells crypto-only 1-step and 2-step evaluations — no minimum trading days, no time limit — on accounts from $5,000 to $200,000, with an 80% profit split upgradable to 90%. Payouts are on-demand and paid in USDC. The Kraken acquisition is the standout fact: it gives Breakout a regulated, well-capitalized exchange parent that most challenge-fee prop firms lack, though the underlying evaluation accounts remain simulated rather than live trading.
Breakout key facts
- Website: www.breakoutprop.com
- Category: Prop trading firm
- Founded: 2023
- Headquarters: Offshore (Saint Vincent & the Grenadines)
- Parent: Acquired by Kraken, September 2025
- Model: 1- or 2-step crypto-only Challenge
- Account sizes: $5K–$200K
- Profit split: 80%, upgradable to 90%
- Payouts: On-demand, in USDC
- CEO: Alex Miningham
- FYI Score: 88.9/100 (ranked #11 of the 63 prop trading firms we track)
Trading rules and risk
- The 1-step track uses a static maximum drawdown (fixed to the starting balance); the 2-step track uses a trailing maximum drawdown. Both cap daily loss at 4% and max drawdown at 6%.
- No minimum trading days and no time limit on either track, removing the artificial pacing pressure common at other firms.
- Leverage is capped by asset — up to 5x on BTC and ETH, 2x on other crypto — and a per-trade fee of roughly $3.50 per $10,000 traded applies, alongside a small overnight financing charge at 00:00 UTC.
Kraken acquisition and payouts
- Kraken completed its acquisition of Breakout in September 2025 for an undisclosed amount, its first move into proprietary trading and part of a broader push into professional trading infrastructure (alongside its NinjaTrader and Capitalise.ai deals).
- Compliance and regulatory review for the combined product is handled through Kraken's Payward Oceanic Ltd entity; US and UK residents remain restricted from the program.
- Payouts are on-demand and available 24/7, paid in USDC (ERC-20), typically processed within 24 hours.
Breakout evaluation challenges
| Challenge | Steps | Profit target | Max drawdown | Profit split | Price |
|---|
| 1-Step Challenge | 1-step | 10% | 6% | 80% | from $45 · $5K–$200K |
| 2-Step Challenge | 2-step | 8% | 6% | 80% | from $45 · $5K–$200K |
Markets
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Platforms
Breakout Terminal
Who Breakout is for
Breakout suits a crypto-focused trader who wants a simple 1- or 2-step evaluation with no day-count or time pressure, fast USDC payouts, and is comfortable trading through an exchange-backed platform. It won't suit traders who want forex, CFD or futures markets, or US/UK-based traders, who are excluded outright.
Pros
- Acquired by Kraken in September 2025 — a rare case of a major regulated exchange backing a challenge-fee prop firm, bringing tier-1 liquidity and Kraken's infrastructure.
- No minimum trading days and no time limit on either the 1- or 2-step evaluation.
- Fast, flexible payouts — on-demand, 24/7, in USDC, typically settled within 24 hours.
- Strong review base, with a Trustpilot rating in the high-4s across several hundred reviews.
Cons
- Crypto-only — no forex, indices, commodities or futures, so it doesn't fit traders wanting a multi-asset evaluation.
- US and UK residents are restricted from the program.
- The operating legal entity, Breakout Trading Group LLC, is registered offshore in Saint Vincent & the Grenadines; despite the Kraken deal, evaluation accounts remain simulated rather than live brokerage accounts.
- Identical 6% max / 4% daily drawdown limits across both tracks, with a static (non-trailing) drawdown on the 1-step path, leave limited room for a rough start.
Breakout FAQ
Is Breakout legit?
Breakout is a real, operating firm founded in 2023 by Alex Miningham and Dylan Loomer, and it was acquired by Kraken in September 2025 for an undisclosed sum. It carries a Trustpilot rating in the high-4s across several hundred reviews. Its evaluation accounts remain simulated even after the acquisition, not live brokerage accounts.
Is Breakout regulated?
Breakout itself is not a licensed broker. Its operating entity, Breakout Trading Group LLC, is registered offshore in Saint Vincent & the Grenadines. Since the September 2025 Kraken acquisition, compliance review runs through Kraken's Payward Oceanic Ltd entity, but the evaluation product is still a simulated proprietary-trading program, not a regulated brokerage account.
What does Breakout's evaluation involve?
Two paths: a 1-step Challenge (10% profit target, 6% static max drawdown, 4% daily drawdown) or a 2-step Challenge (8% then 5% targets, 6% trailing max drawdown, 4% daily drawdown). Neither has a minimum trading-day requirement or a time limit. Accounts range from $5,000 to $200,000, with fees starting around $45.
How does the profit split and payout work?
Breakout pays an 80% profit split by default, upgradable to 90% for an added fee. Payouts are on-demand and available 24/7, paid in USDC on the ERC-20 network, typically processed within 24 hours.
Compare Breakout with other prop trading firms
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