#Hong Kong #Financial Technology #Crypto Trading #Velotrade

Velotrade Sets Its Sights on the Crypto Prop Trading Market

In a groundbreaking move, Velotrade has emerged as a new player in the cryptocurrency prop trading market, founded by seasoned traders from renowned financial institutions like JP Morgan, Dresdner Kleinwort, and Bank of America. This Hong Kong-based firm is breaking traditional molds by combining extensive capital market insights with innovative trading strategies.

Launched recently, the platform offers an exciting opportunity for traders to manage prop accounts financed by the firm, without putting their personal funds at risk. Account sizes range from $5,000 to $200,000, all while implementing a profit-sharing structure that is designed to favor trader success. This unique approach positions Velotrade as a refreshing alternative to many players in the crypto space, who have been criticized for prioritizing revenue from failed trading attempts.

A Vision Rooted in Experience

The founders of Velotrade are not newcomers to the financial scene. With decades of cumulative experience in capital markets and risk management, they are well-equipped to address the inadequacies they observed in existing firms. Gianluca Pizzituti, CEO and co-founder, expressed their observations on the prevalent issues in the trading industry. "We found firms run by individuals with minimal trading experience or qualifications. There's a clear gap in the market, and we aim to fill that with a structure built for traders, by traders."

This insights-driven foundation is not just a commodity for their internal management; it also translates into rules and standards that cater specifically to crypto trading. Unlike traditional trading firms that apply outdated forex rules to the 24/7 crypto market, Velotrade offers a customized regulatory framework that acknowledges the unique characteristics of cryptocurrency.

Tailored Evaluation Framework

The evaluation system at Velotrade is a testament to its unique approach. Instead of imposing harsh penalties for performance deviations, they introduce an array of flexibility within their gaming model. Features such as:

• - No consistency rules—Traders are not penalized for fluctuating performance, enabling them to capitalize on large winning days without repercussion.
• - No time limits—Traders can progress at their own pace, eliminating pressure from time constraints.
• - Permitted news trading—Unlike many firms, Velotrade allows trading during significant market events.
• - Weekend holding permitted—This ensures traders can keep positions that align with their strategies, regardless of the day.

The evaluation at Velotrade requires traders to complete either a two-step or one-step challenge that adjusts parameters depending on the risk appetite of the trader. Both options are structured on a user-friendly platform, ensuring clarity in the rules and expectations.

Payout Structure

The payout system is designed with trader comfort in mind. Funded traders can request payouts starting from two weeks after they take on an account, with subsequent withdrawals available weekly. All payouts are processed in USDC or USDT within 24 hours, showcasing the firm's commitment to operational efficiency.

Commitment to Cryptocurrency

Unlike many trading houses that diversify into forex or commodities, Velotrade's focus remains strictly on cryptocurrencies. They plan to provide trading options for a wide selection of digital assets with leverage up to 6x on Bitcoin and Ethereum, emphasizing their aim to do one thing well: crypto trading.

About the Founding Team

The founding members have an impressive pedigree in capital markets, further solidifying Velotrade's credibility. Gianluca Pizzituti has a rich background in derivatives, having previously established a proprietary trading firm in Singapore. Vittorio De Angelis, the Executive Chairman, brings over 30 years of experience, having traded equity derivatives and held significant positions at notable banks.

Conclusion

With its innovative business model, tailored rules, and a focus on trader success, Velotrade is poised to transform the landscape of crypto prop trading. By prioritizing the interests of traders and integrating a robust support system, the firm is not just another entrant into a crowded market; it represents a shift towards a more trader-centric future in cryptocurrency trading.