Guides
The trading-technology playbook.
How to launch a prop firm, a brokerage, or a web3 exchange — how the systems underneath work, and how to choose between them. Written by the team that builds them.
Prop Firms
The Prop Firms experience ↗- Playbook
How to Start a Prop Trading Firm: The Complete Technology Stack
What it actually takes to launch a proprietary trading firm in 2026: the CRM, challenge engine, risk systems, payouts, and platform integrations behind a modern prop firm.
- Explainer
What Is a Prop Firm Challenge Engine?
The challenge engine is the core of a modern prop firm. Here's what it does: evaluation rules, drawdown and target tracking, breach detection, and the path from challenge to funded.
- Guide
Prop Firm Payout Automation and Profit Splits, Explained
How modern prop firms automate payouts: profit-split logic, payout ceilings, request-and-approval flows, reconciliation, and settling on traditional or on-chain rails.
- Guide
Prop Firm Risk Management and Fraud Detection: A Primer
The risk layer that protects a prop firm's payout line: copy-trading and martingale detection, gaming-strategy flagging, exposure monitoring, and accounts-at-threshold alerts.
- Comparison
Instant Funding vs Evaluation Challenges: Prop Firm Models Compared
Evaluation, instant-activation, and instant-funded models compared: how each works, the risk each places on the firm, and what the trader experience looks like.
- Guide
Tournaments and Copy Trading: Monetizing Trader Flow
Beyond challenge fees: how prop firms and brokers use tournaments, copy trading, and flow monetization to deepen engagement and turn order flow into a hedged book.
Brokers
The Brokers experience ↗- Playbook
How to Start a Brokerage: Technology, Platforms, and Operations
A practical guide to launching a brokerage: choosing a trading platform, building the CRM and back office, setting up dealing-desk risk, and wiring payments.
- Comparison
A-Book vs B-Book vs Hybrid: A Guide to Broker Dealing Models
A-Book, B-Book, and hybrid dealing explained: how each model handles risk and revenue, where conflicts of interest sit, and how brokers route flow in practice.
- Comparison
MT5 White-Label vs cTrader vs Match-Trader: Choosing a Platform
A broker's guide to choosing a trading platform: MetaTrader 5 white-label versus cTrader, Match-Trader, and DXtrade — on cost, control, asset coverage, and time to launch.
- Guide
PSP Integration for Brokers: Deposits, Withdrawals, and Payments
How brokers wire payments: PSP integration for cards, e-wallets, and wire, with deposit and withdrawal automation built into the client portal and back office.
- Playbook
How to Launch a White-Label Crypto Exchange on Hyperliquid
How to launch a branded crypto exchange without building one: white-label DEX infrastructure on Hyperliquid, Web2-grade onboarding, on-chain settlement, and a builder-fee revenue layer.
- Explainer
What Is a Hyperliquid Builder? Builder Codes and White-Label DEXs
Hyperliquid's builder codes let anyone run a front-end on its order book and earn a fee on the flow they bring. Here's how builder codes work and what they enable.
- Explainer
Embedded Wallets and Web2-Grade Onboarding for Crypto Exchanges
How embedded, self-custodial wallets let crypto exchanges onboard users with email or social login — no seed phrases, no extensions — while keeping custody with the user.
- Explainer
Perps, Spot, RWAs, and Prediction Markets: The On-Chain Trading Stack
The four markets of a modern on-chain exchange: perpetual futures, spot, tokenized real-world assets, and prediction markets — what each is and how they settle.