Alpha Capital is a prop firm that has paid out over $100m to more than 100,000 funded traders. But with 6 different challenges, and lots of important rules, it’s hard to compare the firm to competition. There’s even some challenges that you should never choose with this firm. So in this Alpha Capital review I’ll explain all the details you need to know, so you can easily decide if it’s the prop firm for you.
Alpha Capital Discount Code
Use discount code TPJ for 15% off Alpha Capital challenges.
You can find more deals on my prop firm discounts page.
Alpha Capital Prop Firm Details
The firm was founded in 2021, then released its first challenge in 2022. It is based in the United Kingdom, created by founders George Kohler and Andrew Blaylock. Alpha Capital has 15k ratings on TrustPilot, with a 4.7 TrustScore.
Alpha Capital Challenges
Alpha Capital Group offers 6 different challenges.
- The one step Alpha One, 2-step Alpha pro in 6, 8 and 10% drawdown variations,
- The 2-Step swing account
- The 3-step Alpha Three
Alpha Capital has created a futures prop firm too, which I will review in another video.
Alpha One Challenge
The Alpha One challenge costs from $50 to $997.
| Challenge Size | $5k | $10k | $25k | $50k | $100k | $200k |
| Price | $50 | $97 | $197 | $297 | $497 | $997 |
It has a 10% profit target, with 6% trailing maximum drawdown and 4% daily drawdown. This has one minimum trading day.
The trailing drawdown is balance based, and becomes locked at the original account balance once 6% profit is reached.
The daily drawdown is balance and equity based. The Alpha One funded account pays on demand payouts.
Alpha Pro Challenge
All Alpha Pro challenge phases have 3 minimum trading days. On the funded account, there is the option between biweekly and on-demand payouts.
Pro 6%
The Alpha Pro 6% costs from $40 to $847.
| Challenge Size | $5k | $10k | $25k | $50k | $100k | $200k |
| Price | $40 | $67 | $137 | $237 | $427 | $847 |
It 6% has profit targets of 6% in both phases, 6% static maximum drawdown and 3% daily drawdown, which is balance and equity based.
Pro 8%
The Alpha Pro 8% is more expensive, costing from $77 to $1,097.
| Challenge Size | $5k | $10k | $25k | $50k | $100k | $200k |
| Price | $77 | $147 | $247 | $357 | $557 | $1,097 |
It has 8% and 5% profit targets, with 8% static maximum drawdown and 4% daily drawdown, which is balance based.
Pro 10%
The Alpha Pro 10% is cheaper than the 8% but more expensive than the 6%.
| Challenge Size | $5k | $10k | $25k | $50k | $100k | $200k |
| Price | $50 | $97 | $197 | $297 | $497 | $997 |
It has profit targets of 10% and 5%, with 10% static maximum drawdown and 5% daily drawdown which is balance based.
Pro Comparison
The Alpha Pro accounts may be named the same, but they are not created equally. The Alpha Pro 10% is by far the best. It is better value for money, providing higher true backing per dollar of evaluation fee.
And it is also easier to pass, requiring a total 150% true return to pass, compared to 163% required for the Alpha Pro 8%, and 200% for the Alpha Pro 6%.
This is the same difference as the Funding Pips 2-Step regular vs 2-Step pro which I discussed in my last video. The lower profit targets look attractive, but are offset by the lower maximum drawdown, so the Alpha Pro 10% will always be the best choice.
Alpha Swing Challenge
The Swing challenge has the same parameters as the Alpha Pro 10% and has the benefit of allowing weekend holding on the funded account.
But it has lower leverage, and costs more.
| Challenge Size | $5k | $10k | $25k | $50k | $100k | $200k |
| Price | $70 | $147 | $247 | $357 | $557 | $1,097 |
On the funded account, it only offers On-demand payouts. If you want to hold trades over the weekend with Alpha Capital, this is the challenge for you, because it has static maximum drawdown compared to the Alpha One challenge, and is easier to pass than the Alpha Three challenge.
Alpha Three Challenge
The Alpha Three Challenge costs from $67 to $697.
| Challenge Size | $10k | $25k | $50k | $100k | $200k |
| Price | $67 | $157 | $247 | $397 | $697 |
It has profit targets of 8%, 4% and 4%. It has 6% static maximum drawdown and 4% daily drawdown, which is equity and balance based.
Each phase requires 3 minimum trading days. The funded Three Account offers Bi-weekly or on-demand payouts.
This challenge is terrible. It requires a ridiculous 266% true return to pass. And it provides worse true backing per dollar of evaluation fee than the Alpha Pro 10%.
3-Step challenges are almost never worth the extra difficulty of passing, and this one definitely isn’t. You are essentially paying for a challenge that is twice as hard to pass, while getting significantly worse value for money.
Daily Drawdown
Daily Drawdown is calculated at midnight broker time, which is GMT+2. Alpha Pro 10%, 8% and Swing account daily drawdown is calculated using Balance only. All other accounts use Balance or Equity, whichever is higher.
Trading Restrictions
For the Swing, One and Three plans, holding trades over the weekend is allowed in all stages. For pro plans, holding trades over the weekend is allowed during the evaluation, but not on the funded account.
Make sure to take a trade once every 30 days to avoid breaching the inactivity rule. Trading with multiple IP addresses and devices, and using VPNs is allowed on our platform, provided that the trades are only being executed by the individual who is the account holder.
Copy trading is allowed, but proof of ownership of the master account is required. EA trading is allowed, but is only possible on Metatrader.
EAs must be approved before use, by sending the source code to the firm.
Exploitative strategies like High Frequency trading are not allowed.
There is also a gambling rule, which prohibits trading strategies that are deemed “all or nothing”. This includes high lot size and trade length variation.
News Trading
Trading news during the evaluation phase is allowed on all accounts.
However, on funded accounts restrictions apply. The Alpha Pro 8% and 10% funded accounts have a 4 minute restricted window around high impact news.
The Alpha Pro 6%, Alpha One and Alpha Three funded accounts have a 10 minute restricted window.
If a trade is opened or closed within this window, profits made will be deducted from the account. News trading is allowed on the Alpha Swing funded account, but if a trade is initiated within the 4 minute window around a high impact news release, its duration must exceed 2 minutes for the trade to be valid.
The gambling rule also restricts news trading, prohibiting Trades initiated just before and closed right after the restricted high-impact news trading window on the Pro/One/Three models. Generally short-term trades on the Swing account model, that identified as solely speculative around high-impact news, are prohibited too.
Allocation & Scaling
Alpha Capital Group offers an initial maximum allocation of $400k, with a $300k limit per strategy. This can be increased up to $2m with scaling. Scaling is available on Alpha Pro, Swing and Three accounts. Scaling is achieved when a 10% gain is achieved, and requested in a single payout. When this happens the reward split is paid out, and the account is increased by 10% of the initial account balance. On the scaled up account a minimum of 5 trading days is required before requesting another reward split. On the second scale up, a max lot size increase of 10% is applied too.
Trading Competitions
The firm offers free monthly trading competitions, with evaluation prizes for the 70 traders who earn the highest returns. These accounts have 10% static maximum drawdown and 5% daily drawdown, and EA trading is not allowed.
Trading Platforms & Conditions
Alpha Capital Group offers Metatrader, cTrader, DXTrade and Tradelocker as trading platforms. However, US residents may not use metatrader.
The firm uses ACG Markets as a broker, which is FSA Regulated. When purchasing your account, you must choose between standard and raw spreads. Standard accounts have larger spreads but no commissions. RAW accounts offer tight spreads from 0.1 pips, but $5 commission per lot round trip. Indices are commission free on both account types.
Trading conditions offered are good, as usual there are some complaints of slippage, but the team does occasionally offer to rebate unnecessary slippage.
Leverage is up to 1:100 on Alpha Pro, 1:50 on Alpha Three, and 1:30 on Alpha Swing and Alpha One.
Alpha Capital Payouts
ACG offers payouts through Rise, Wise and Bank Transfer. Reward splits are always 80% of the profit earned on the account. Payouts are either on-demand, or biweekly.
To request this on-demand payouts, you must follow the 40% best day rule and have a minimum 2% profit. The 40% best day rule states that no single trading day should contribute more than 40% of the total generated profits.
If bi-weekly payouts are chosen, you can request payouts every 14 days, with a minimum $100 profit to withdraw. For your bi-weekly payout, a minimum of 5 trading days using the same trading strategy is required.
With both withdrawal frequencies, on the fourth performance fee request, a discretionary bonus of 0.25% of the initial account size is applied.
The firm has paid out over $100m. Nearly $50m of which can be verified on the Rise blockchain.
Alpha Capital Review Conclusion
In conclusion, Alpha Capital Group is a reputable prop firm that pays out, but not all its challenges are worth taking. Don’t bother with the Alpha One or Alpha Three. The Alpha Pro 10% is the best pick, and the Swing account is a good option if you want to hold trades over the weekend. You can often get good value for money when Alpha Capital runs large discounts, so keep your eye out for that.
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