Where you trade
Both firms opt for a modern, proprietary approach by moving away from traditional retail platforms. Cashed provides a proprietary interface specifically designed for the crypto-native trader, integrating perpetuals and prediction markets into a single simulated environment. Vest Markets also utilizes its own Proprietary Platform, which handles a wider range of asset classes beyond just digital assets, offering a unified dashboard for multi-asset trading.
Who executes your orders
Execution in both environments is simulated, meaning trades do not hit the live market but are executed against the firms' internal engines.
- Cashed: Uses the CAS-1.0 engine. It manages up to 100 simultaneous positions and relies on a rulebook that prioritizes security and fraud checks over traditional identity documents (no KYC/selfies required).
- Vest Markets: Manages its own liquidity and hedging activity. Traders are prohibited from trying to exploit the firm's internal hedging strategies or differences between venues.
Leverage and margin
The risk environment is defined by how much buying power you have and when the firm will pull the plug on your positions.
- Cashed: Offers 10:1 leverage on BTC, ETH, and SOL, 5:1 on major crypto, and 2:1 on others. The Maximum Drawdown is static (fixed at the start) and enforced on equity, meaning floating losses can trigger a breach. It does not reset after payouts.
- Vest Markets: Provides higher leverage for specific assets, reaching 50:1 on indices and up to 15:1 on crypto, while Forex is limited to 5:1. Its Maximum Drawdown is also static and equity-based. However, they include a Daily Drawdown reset at 20:00 ET for applicable plans, which is calculated on the balance (excluding unrealized PnL).
Markets available
The technical setup dictates the trader's universe:
- Cashed: Exclusively Crypto. This includes perpetual futures and prediction markets. It is a specialized environment for those focused on the blockchain ecosystem.
- Vest Markets: A multi-asset powerhouse. Traders can access Crypto, Forex, Indices, Stocks, Commodities, and ETFs. This allows for broader diversification strategies.
What the setup lets you do
The choice of platform and rules defines your trading style:
- Cashed: This is a bot-friendly environment. EAs and algorithmic execution are allowed via API, provided they don't overload the system. It allows Scalping (no minimum hold time), News Trading, and Weekend Holding. You can even use Martingale and Stacking strategies.
- Vest Markets: Strictly for manual traders. API trading is unavailable on funded accounts, meaning external bots cannot be connected. It allows Scalping and News Trading. Weekend Holding is permitted; however, while crypto trades 24/7, other markets lock during the weekend, preventing position management until Monday.
What the setup costs
Execution costs and access fees vary significantly:
- Cashed: Extremely low entry barrier with accounts starting at $5 for small sizes ($400 to $600 capital). Execution fees are displayed within the platform rather than a fixed rate sheet. Payouts require a minimum of 20 USDC, and the firm covers standard network fees.
- Vest Markets: Accounts start at $10 for a $500 Instant account or $15 for a $5,000 2-Step evaluation. Execution involves commissions ranging from 0% to 0.01% depending on the asset. The minimum withdrawal is just 1 USDC.
Better setup for
- Cashed is the superior choice for algorithmic traders and crypto specialists who want to trade perpetuals and prediction markets without KYC hurdles and with the ability to use bots.
- Vest Markets is better for manual multi-asset traders who require higher leverage on indices and a wide variety of traditional markets like Forex and Stocks.
Frequently asked questions
Which firm is cheaper to start with, Cashed or Vest Markets?
Cashed offers the lowest absolute entry price, with accounts starting at just $5 for their Flex, Standard, or Instant models (providing between $200 and $600 in simulated capital). Vest Markets starts at $10 for an Instant account of $500 or $15 for a $5,000 evaluation, making Cashed the more accessible option for traders with very limited initial capital.
Can I use automated trading bots on both Cashed and Vest Markets?
No. Cashed allows the use of EAs and algorithmic execution via API limits, making it suitable for automated strategies. In contrast, Vest Markets explicitly states that API trading is not available on funded accounts, effectively prohibiting the connection of external bots and limiting the trader to manual execution.
Between Cashed and Vest Markets, which one offers more leverage for Crypto?
Vest Markets offers higher maximum leverage for crypto, reaching up to 15:1. Cashed limits leverage to 10:1 for top-tier assets like BTC, ETH, and SOL, and drops significantly to 2:1 for smaller altcoins. Therefore, if you need higher buying power for crypto trades, Vest Markets provides the more aggressive setup.
Which firm has a lower minimum withdrawal requirement, Cashed or Vest Markets?
Vest Markets has a significantly lower threshold, allowing withdrawals starting from just 1 USDC net from the Primary Account to a wallet. Cashed requires a minimum of 20 USDC net to the trader. While both firms utilize USDC for payouts, Vest Markets is more flexible for traders who wish to withdraw very small profit amounts.
