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Comparison · Crypto

Breakout and Iceberg at a glance

Updated on

The short answer

Breakout is the choice for traders seeking institutional-grade security and higher drawdown limits, as it is owned by Kraken and offers up to 6% static drawdown. Iceberg is the go-to for those prioritizing privacy and speed, offering a no-KYC environment and instant funding options.

Where they actually differ

  • Identity verification (Rules): This is the biggest divider. Breakout requires full SumSub KYC (ID, selfie, residency) before receiving a funded account. Iceberg requires no KYC at all.
  • Ownership and Trust (Business): Breakout is owned by the exchange Kraken, providing a level of corporate backing rare in the industry. Iceberg is a crypto-native entity where payouts depend on a public liquidity pool on Arbitrum.
  • Evaluation vs. Instant (Plans): Breakout only offers 1-step evaluations (Classic, Pro, and Turbo). Iceberg offers both 1-step evaluations and "Instant Funding" where you skip the test but face a 90-day account expiry and a 5% payout cap.
  • Payout Limits and Networks (Payouts): Breakout has no profit caps and pays via USDC (ERC-20). Iceberg's Instant accounts limit payouts to 5% of initial capital per request and use the Arbitrum network.
  • Asset Selection (Tech): Iceberg has a broader range, including Forex and Stocks. Breakout focuses exclusively on Crypto, Indices, and Commodities.
  • Copy Trading (Styles): Iceberg allows you to copy trades between your own accounts. Breakout prohibits all forms of copy trading, even between your own accounts.
  • Price: For a $100,000 account, Breakout’s Classic is cheaper ($800) compared to Iceberg’s Unlimited ($857).

Where they are basically the same

  • Risk rules: Both firms use static drawdowns that do not trail profits and are measured against equity.
  • Platforms: Both use proprietary web terminals; neither supports MetaTrader 4 or 5.
  • Trading styles: Both allow news trading and holding positions over the weekend.
  • Payout frequency: Both offer on-demand payouts (subject to a 120-hour cooldown on Iceberg’s Instant accounts).

Pick this one if

Breakout

  • You value the peace of mind of a firm owned by Kraken.
  • You want a $200,000 allocation with a 5% or 6% static drawdown.
  • You prefer trading on Ethereum mainnet (ERC-20).

Iceberg

  • You want to trade immediately without passing an evaluation.
  • You refuse to perform KYC or share identity documents.
  • You prefer the low fees of the Arbitrum network.

Frequently asked questions

Which firm is cheaper for a $100,000 evaluation, Breakout or Iceberg?

Breakout is the more affordable option. Its 1-Step Classic $100,000 evaluation costs $800, whereas the equivalent 1-Step Unlimited account at Iceberg is priced at $857. Breakout also offers a "Turbo" version of this size for as low as $330, though it comes with a much tighter 3% drawdown limit.

Which firm offers more privacy, Breakout or Iceberg?

Iceberg offers significantly more privacy because it does not require KYC (Know Your Customer) verification at any stage. In contrast, Breakout requires a full identity verification process through SumSub, including a selfie and proof of residence, before a trader can access a funded account.

Can I use automated strategies or copy trading on Breakout or Iceberg?

Neither firm is friendly to third-party EAs or "pass-your-challenge" services. However, Iceberg is more flexible regarding copy trading, as it allows you to copy signals between your own internal accounts. Breakout prohibits all forms of copy trading, and since both use proprietary terminals instead of MetaTrader, using standard EAs is not possible on either platform.

Who has fewer restrictions on withdrawals, Breakout or Iceberg?

Breakout has fewer restrictions. It imposes no maximum profit caps or withdrawal limits. Iceberg, while offering on-demand payouts for its evaluation accounts, imposes a 5% gross profit cap per withdrawal on its "Instant Funding" accounts, and all Iceberg payouts are subject to the available liquidity in their public Arbitrum pool.

Field by field

Breakout and Iceberg, side by side

Rules, plans, platforms, leverage, commissions and payouts of both, with the option to see only what differs.

Head to head

45 differences

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Country

United States

No data
Foundation

2023

No data
Banned Countries
Afghanistan, Belarus, Myanmar, Cambodia, Central African Republic, Cuba, Democratic Republic of the Congo, Ethiopia, Eritrea, Haiti, Iran, Iraq, Lebanon, Libya, Mali, Nicaragua, North Korea, Russia, Somalia, South Sudan, Sudan, Syria, Venezuela, Yemen, Zimbabwe, Crimea, Donetsk, Luhansk
No data
Assets
Crypto, Indices, Commodities
Crypto, Forex, Commodities, Indices, Stocks
Brokers

Proprietary simulated engine using order book liquidity from external exchanges and market makers. Index and commodity prices come from Hyperliquid.

Simulated capital using Hyperliquid prices and depth. Orders are not sent to the live venue.

Refund
No

No fee refund. Only active evaluations are refunded if KYC is rejected.

No
Platforms
Propietary Platform
Propietary Platform
Payout Methods
Crypto
Crypto
Payment Methods
Card, Crypto
Crypto
Payout Frequency

On demand, 24/7, from the first funded day. No open positions when requesting; the amount leaves the balance immediately and trading can continue.

Instant: first request 120 hours after the first executed trade; thereafter, 120 hours after each received payout. Unlimited funded: on demand, without a waiting period or cooldown.

Payout Guarantee

Approval within 12 to 24 hours, usually sooner. Paid in USDC (ERC-20) to the wallet provided.

Native USDC payouts on Arbitrum One, subject to available public-pool funds. Requests may queue when liquidity is unavailable. Close positions and cancel orders before requesting.

Crypto Weekend Trading
Yes
Yes
Maximum Withdrawal

No payout or profit cap.

Instant: 5% of initial capital gross per payout. Each request resets the balance to initial capital; excess above the cap is forfeited on settlement. Partial withdrawals are unavailable. Unlimited: no such cap.

Minimum Withdrawal

USD 50, after the profit split.

Instant: 1% of initial capital gross. Unlimited funded: USD 25 gross.

Metals
5:1 - 10:1
5:1 - 8:1
Energies
3:1 - 5:1
8:1
Indices
10:1
10:1
Crypto

BTC 10:1; ETH, SOL, XRP, BNB, DOGE and other majors 5:1; HYPE, PEPE, NEAR and similar 3:1; others 2:1. Fixed, cannot be changed.

BTC, ETH and SOL: up to 10:1. Other crypto: up to 2:1.

Forex
No data
25:1
Stocks
No data
4:1
Metals
0.02%
0.003% - 0.009% - 0.03% - 0.09%
Energies
0.02%
0.003% - 0.009%
Indices
0.02%
0.003% - 0.009%
Crypto
0.04%
0.015% - 0.045%
Commission-Free Option
No
No data
Forex
No data
0.003% - 0.009%
Stocks
No data
0.003% - 0.009% - 0.03% - 0.09%
Swap Free
No

Swap of 0.033% of notional per open position per day. On the Breakout terminal it is charged in six parts, every 4 hours.

No

Hourly funding using Hyperliquid rates.

Account Reset

No reset. After a breach, a new evaluation must be purchased.

No data
Add-ons
Yes

90/10 split at purchase, permanent for that account. Cannot be added later.

No data
Instant
No
Yes
One Step
Yes
Yes
Account scaling
No
No data
Two Steps
No
No data
Max Drawdown

Static from the starting balance, also on funded accounts; it does not rise with profits. Measured against equity, including floating P&L: touching it closes positions and the account.

Static floor based on initial capital; it does not trail profits or decrease after payouts. Checked against equity, including open P&L, fees and funding.

Daily Drawdown

Recalculated daily at 00:30 UTC from the closed balance at that time, excluding open positions, and monitored against equity. Requesting a payout widens that day's limit by the payout amount.

Based on the opening balance at 00:00 UTC, after funding. Payout reserves and returns adjust cash and the daily floor equally.

Max Allocation
200,000

Instant: USD 50,000 across unexpired accounts and pending purchases; up to USD 50,000 active. Standby accounts count and archiving does not free capacity. Unlimited: no evaluation allocation cap; up to USD 200,000 funded and active. Separate limits; a passed evaluation waits until capacity is available.

Maximum Accounts

Several evaluations and funded accounts at once, up to USD 200,000 combined across active accounts. Each account keeps its own limits.

No data
Maximum Trading Days

No time limit.

Instant: expires 90 days after first activation, even without trading. Unlimited: no expiration in evaluation or funded phases.

Minimum Trading Days

None. Once the target is hit, even with open positions, the account moves to funded after KYC and signing the agreement (12 to 24 hours).

No minimum.

Free Trial
No data
Yes

Free USD 5,000 demo, one at a time.

Profit After Breach
No data

After a loss-limit breach or Instant expiry, unrequested funded profit loses payout eligibility. Amounts reserved for previously submitted requests are not automatically forfeited.

Points Reward Program
No data

Ice Points for eligible activity; the formula is variable and unpublished. 10,000 points: 5% discount; 18,000: 10% discount; 7,500: badge. Owner-bound codes, one use, valid for 90 days and non-stackable.

Expert Advisor (EA)
Limited

Third-party, off-the-shelf or pass-the-evaluation strategies are prohibited. Proprietary terminal only, no MetaTrader.

No data
VPN
Limited

Allowed if it does not hide the real jurisdiction. KYC must be completed without a VPN.

No data
Hedging
Limited

Within one account, only once the open position has substantial profit or loss. Prohibited across accounts or with other traders: a first inadvertent case may get a warning; otherwise all accounts are closed.

No data
Requires Stop Loss
No
No
Maximum Risk Limit
Limited

No per-trade risk cap. Maximum size per instrument per the symbols page, with fixed leverage.

No data
Copy Trading
No

Copying trades between users and executing third-party ideas or signals is prohibited: communities, social media, analysts or reports.

Limited

Only between your own accounts. Copying between different users is prohibited.

News Trading
Yes
Yes
Consistency Rule
No
No
Hold Weekend
Yes

Overnight, weekends and holidays, with no forced close. Swap applies.

Yes

Overnight holding is also allowed when usable market data is available.

Prohibited Strategies

Exploiting errors or latency, insider information, front-running, third-party or off-the-shelf strategies, switching strategy after passing, cross-account arbitrage, trades hard to replicate live (auto-deleveraging risk or extreme swings), copying others' ideas, account sharing or trading several accounts from the same household, device or IP, and hedging across accounts or traders. It leads to account closure and loss of profits.

Account sharing, cross-account hedging, copying between users, latency arbitrage and tick-sniping. Breaches may lead to a ban; appeals through Discord.

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