Review Time
I have mixed feelings about Hydra. The only 100% thing that I can assert is that they have the best prices. Other than that, take it with a grain of salt. Their customer service response time is terrible. If you have an urgent issue, good luck getting it resolved in a timely manner. Their rules are not clear. And somethings just don't seem right, For instance, having to pay to hold over the weekend with the crypto instant lite. The crypto market is 24/7! Also, the fees!!! They're outrageous. Trading BTC expect crazy fees. I have yet to get cash out so I can not attest to whether or not if their payouts are quick. Be careful with the new LITE accounts. I am currently waiting for assistance on my current crypto instant lite account. The cap balance never reset at 5pm EST. I will probably have to wait until tomorrow for a response and I have a feeling that more likely than not, they will NOT resolve my issues, even though I have provided proof via screen shot. They create a platform that creates failure. Honestly I had an account with Breakout and that was much better. Not only was I funded multiple times but I was able to maintain my accounts and cash out. With Hydra, all of the restrictions from consistency rules, to the excessive fees are designed to ensure that you blow the account. Breakout on the hand seems to encourage traders to succeed. Hydra, prove me otherwise. Start by improving your customer service response.
There seems to be issues with Gooeytrade which is what this prop firm uses.1. XAU charts didn't align with Trading view charts; CS response was that the prices are market prices. 2. Prices of currency pairs (e.g., XAU and BTC are highlighted as the same in the P&L column yet have 2 different PV). This is rather confusing (?)3. When writing to CS on this, and checking back on gooeytrade, there seems to be extreme price volatility all of the sudden. Have you had this experience? If so, what is the best way to resolve it?
I got funded with this prop firm and got a payout, but my experience is mid because they have starting balance drawdown after the first withdrawal which should be on their challenge table when buying the account because it's such an important factor to consider when funded. I ended up breaching the count just from withdrawing my profit.
I was looking for a prop firm that actually cared about crypto and Hydra is it. Instant funding got me started right away and the sheer number of pairs is awesome. It's not just the big names, there are tons of altcoins to trade. Def recommended!!!
The same predatory model other "prop firms" use. Demo trades with vague rules wording saying they may or may not hedge against your virtual trades (lol). They imply in one rule that some trades are real while others are not. Fact is that they profit from traders losing challenges (90%+) and every cent a winning trader wins comes off of their bottom line. Think about that before spending thousands with the dream to scale multiple accounts with fake funds in the millions. They need you to fail long term. Here's a snippet of the rules: "For purposes of managing risk and minimizing transaction costs, we may offset or negate market risk and act as the direct counterparty to certain trades initiated in the Account. Such trades are executed at prices provided by arm’s length third parties. This framework is intended to ensure you receive real market execution on your trades, while simultaneously allowing us to manage risk dynamically by routing existing positions or future orders to third parties for execution as we deem appropriate." -ask yourself why they "may" trade as counterparty to manage non-existent "risk" on virtual trades. As support continuously stated, they just "may" trade as counterparty. As you can see form the language, it's anything but clear and can mean what you (or they) want it to mean. Just as their reply to my review shows, it's marketing language. They will not be able to give you a specific as to how they make any money other than from failed challenges. Payouts are their marketing costs, failed challenges their main revenue. That's the model.
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