Where you trade
Both firms have moved away from traditional retail software to offer a more integrated experience through their own technology. Hypernova operates through its Proprietary Platform, which is designed to integrate its custom execution engine directly with the trader's interface. Similarly, Propr utilizes a Proprietary Platform specifically built to handle Hyperliquid perpetuals and HIP-3 markets, focusing on a terminal-like experience for high-frequency crypto and asset trading.
Who executes your orders
In both cases, you are operating in a simulated environment where orders are not routed to live exchanges. Hypernova uses a proprietary engine that ingests market data from Hyperliquid, but the execution is internal and simulated. Propr also provides a simulated environment denominated in USDC, using Hyperliquid’s price feeds. While the execution is virtual, Propr reserves the right to copy trader signals into live markets using its own capital, meaning the trader’s performance acts as a data stream for the firm's own risk management.
Leverage and margin
The technical risk environment is defined by how much buying power you have and how close you are to the "liquidation" point (the drawdown limit).
- Hypernova offers 20:1 leverage on Forex and a range of 2:1 to 5:1 on Crypto. Their risk management is strictly equity-based in real-time. The Conservative and Standard plans use a Static floor based on the starting balance, while the daily loss is recalculated at 00:00 UTC based on the balance at that moment.
- Propr provides slightly higher leverage for major assets: 25:1 on Forex and 10:1 on major Cryptos (BTC, ETH, SOL). Their drawdown logic varies by plan: the 1-Step uses a fixed floor, while the 2-Step features a Trailing drawdown that follows the highest equity and locks at the starting balance.
Markets available
The asset selection is broad in both firms, catering to multi-asset traders.
- Hypernova: Crypto, Stocks, ETFs, Commodities, Indices, and Forex.
- Propr: Crypto, Stocks, Indices, Commodities, and Forex.
Both allow weekend trading for Crypto, reflecting the 24/7 nature of the underlying market data from Hyperliquid.
What the setup lets you do
The rules combined with the platform capabilities define the strategy limits:
- Scalping and News Trading: Both firms allow these styles.
- Expert Advisors (EAs): Hypernova allows self-built bots but strictly prohibits off-the-shelf strategies or third-party signals. Propr allows bots and agents as long as they don't destabilize the platform, though they monitor for "coordinated trading" if multiple users use identical, uncustomized bots.
- Copy Trading: Prohibited at Hypernova. Propr allows copying from an external account into one Propr account, but generally restricts copying between internal accounts to exploit limits.
- Hedging: Both allow hedging within a single account, but prohibit it across multiple accounts to neutralize risk.
What the setup costs
Execution costs and entry fees are the primary friction points:
- Commissions: Hypernova charges between 0.01% and 0.04% on Crypto and up to 0.005% on Forex. Propr commissions for Crypto range from 0.015% to 0.045%, and Forex from 0.003% to 0.009%.
- Challenge Prices: For a 100K account, Hypernova's Precision plan costs $400, while Propr's Turbo 1-Step costs $450.
- Payouts: Hypernova has no platform fee and settles in seconds 24/7. Propr has no withdrawal fee and guarantees payment within 24 hours.
Better setup for
- Hypernova is the better setup for disciplined intraday traders who want the fastest possible payouts (seconds) and a static drawdown environment that doesn't "trail" their profits.
- Propr is the better setup for crypto-focused traders who need higher leverage on Bitcoin and Ethereum (10:1) and those who use external signals or personal copy-trading setups.
Frequently asked questions
Which firm is cheaper for a 100K account, Hypernova or Propr?
Hypernova is cheaper if you choose their Precision plan, which costs $400 for a 100K allocation. In comparison, Propr’s equivalent low-drawdown plan, the Turbo 1-Step, costs $450. However, if you are looking for a more standard 1-step challenge with higher drawdown limits, Hypernova’s Standard 100K costs $1350, while Propr’s Classic 1-Step 100K is significantly cheaper at $999.
Who offers higher leverage for trading Bitcoin, Hypernova or Propr?
Propr offers higher leverage for Bitcoin, providing 10:1 for BTC, ETH, and SOL. Hypernova limits crypto leverage to a range between 2:1 and 5:1 depending on the specific asset and market conditions. This makes Propr more suitable for traders looking to maximize their position size in the crypto markets.
Which firm has a faster payout process, Hypernova or Propr?
Hypernova has a faster process, offering on-demand payouts 24/7 that settle in seconds once positions are closed. Propr also offers on-demand withdrawals with no minimum waiting period, but their payout guarantee is within 24 hours, which is efficient but slower than the near-instant settlement at Hypernova.
Can I use copy trading software on Hypernova or Propr?
Propr is more flexible as it allows you to copy trades from an external account (like a CEX or another firm) into a single Propr account. Hypernova strictly prohibits all forms of copy trading and third-party signals, requiring all trades to be executed manually or by a bot specifically built by the trader for that single account.
