- Excellent Trustpilot rating of 4.6/5 and Free Trial
- $2,000,000 max capital with 80% profit share and bi-weekly payouts
- Overnight, weekend, and news trading permitted
- Scaling option with 1:100 leverage
- Professional trading dashboard.
My Forex Funds
- Over 12,000 Trustpilot reviews with a 4.9/5 rating
- Funded accounts from $2,000 to $50,000; three account types
- First payout includes initial fees plus an extra 12%
- Bonuses during evaluation; profit sharing up to 90%
- Competitive commissions; leverage from 1:50 to 1:500
- No time limits on Evaluation Program.
Cons ❌
Alpha Capital Group
- Limited trading instruments: Forex pairs, commodities, indices
- Lot size limit & consistency rule
- Minimum average trade duration of 2 minutes rule
My Forex Funds
- Delayed response time on Livechat support due to queue
- Instances of slippage issues
Rules 📋
Alpha Capital Group
Lot Size Limit, Maximum Daily Loss, Maximum Loss, Minimum Trading Days, No Martingale Allowed, Profit Target, Third Party Copy Trading Risk, Third Party EA Risk
My Forex Funds
Consistency Rule, Maximum Daily Loss, Maximum Loss, Maximum Trading Days, Minimum Trading Days, No EAs Allowed, No Weekend Holding, Profit Target
Proprietary Trading Firm Assessment: Alpha Capital Group vs My Forex Funds
When searching for a proprietary trading firm that aligns with your strategy and goals, traders must sift through a plethora of options, each with unique offerings. Today, we examine two contenders: Alpha Capital Group and My Forex Funds, to guide you in selecting the prop firm that best fits your requirements.
Alpha Capital Group Overview
Alpha Capital Group boasts a robust reputation among traders, as evidenced by its excellent Trustpilot rating of 4.6 out of 5. The firm offers a lucrative profit share of up to 80% on a maximum capital deployment of $2,000,000, with the convenience of bi-weekly payouts. Traders at Alpha Capital Group enjoy the flexibility of trading overnight, during news events, and over the weekend, without fear of penalization. The scaling option at a leverage of 1:100 is an attractive feature for growth-focused traders. Furthermore, the professional trading dashboard enhances the overall trading experience with its user-friendly interface.
However, it's not all smooth sailing with Alpha Capital Group; traders are restricted by a limited selection of trading instruments—primarily forex pairs, commodities, and indices. Additionally, the imposition of lot size limitations and a minimum average trade duration of two minutes may deter traders seeking greater freedom in their strategies. It’s noteworthy to mention that the firm also explicitly bans the use of Martingale strategies and third-party copy trading, which could be restrictive for some.
My Forex Funds Insight
My Forex Funds has garnered widespread respect and trust as reflected by its staggering collection of more than 12,000 reviews on Trustpilot, with a sterling rating of 4.9 out of 5. The firm provides a range of funded accounts starting from as low as $2,000 to as much as $50,000, catering to traders of different experience levels and risk appetites. The attractive compensation structure includes the initial fees plus an extra 12% on the first payout and offers a profit sharing of up to 90%. Noteworthily, My Forex Funds features incentivizing bonuses even during the evaluation phase.
The flexibility factor shines with My Forex Funds, as it lacks restrictions on the length of the Evaluation Program, giving traders ample time to showcase their proficiency. However, it’s not devoid of downsides—the support system has been flagged for delayed response times, and traders have reported issues with slippage, which could potentially eat into profit margins.
Operational Comparisons
In terms of operational aspects, there are notable differences that might sway a trader's decision. The deposit and withdrawal options are broader with My Forex Funds, accepting both credit/debit cards and cryptocurrencies, while Alpha Capital Group limits transactions to just credit/debit cards for deposits. When it comes to withdrawals, both firms allow payouts via bank wire and Deel, but My Forex Funds further accepts crypto withdrawals.
Alpha Capital Group presents a selection of account sizes, enabling traders to select from a five-tiered structure ranging from $10,000 to $200,000. Meanwhile, My Forex Funds displays its flexibility in providing accounts denominated in USD without specifying the topside limit.
Regarding tradeable instruments, My Forex Funds overshadows Alpha Capital Group by offering the addition of cryptocurrencies on top of commodities, forex, and indices.
Conclusion: Weighing Your Options
Both proprietary trading firms have their merits and drawbacks. Alpha Capital Group offers the appeal of high capital ceiling and a pleasant user experience through its intuitive trading dashboard. Conversely, while My Forex Funds provides excellent initial compensation and flexibility in evaluation, the customer service experiences and encountered slippage could be potential red flags for traders.
Ultimately, your choice between Alpha Capital Group and My Forex Funds should align with your trading style, instrument preferences, and the gravity you place on customer service and transactional agility. We hope this comparison enables you to discern which firm aligns best with your trading journey.
