Alphachain vs Audacity Capital

Overview of Alphachain

Alphachain, founded in August 2020, comes across as a versatile prop firm for retail traders. Its most prominent feature is its scalability potential, which allows a trader to scale up to a substantial $1,280,000. This is partnered with a commendable Trustpilot rating of 4.7 out of 5, reflecting a high level of trader satisfaction. The firm offers a range of account programs, starting from basic evaluation to direct funding, coupled with educational provisions that set up traders for success. Traders are allowed to hold positions overnight throughout the weekdays with a leverage of 1:100, providing flexibility in trading strategies. The firm also emphasizes premium instruction and mentorship, which is invaluable for both novice and experienced traders.

Analysis of Audacity Capital

Audacity Capital, established in January 2014, offers the allure of immediate funding up to $500,000 without the need for an evaluation process. This accessibility is a strong selling point for traders eager to jump into the trading arena with substantial backing. The firm boasts a similarly high Trustpilot rating and is known for its superior customer support. Unique to Audacity Capital is its scaling plan that imposes no restrictions on the timeline, in addition to a 10% fixed drawdown. The flexibility continues with its overnight holding policy, and the motivational perk of automatically doubling the account on achieving a 10% profit stands out. Moreover, participants are supported with a free retake and a 14-day extension for the Ability Challenge, enhancing the firm’s appeal.

Comparison of Pros and Cons

When it comes to comparing cons, Alphachain’s restrictions on lot size, the requirement of minimum trading days, and the prohibition on news trading and weekend holding may limit trading styles and strategies. On the other hand, Audacity Capital’s absence of a free trial, non-existent trading over the weekend, a slimmer profit split of 50%, and additional monthly platform charges could be seen as deterrents for some traders.

Operational Rules Comparison

Alphachain's trading environment is structured with rules that include a lot size limit, maximum loss, weekly loss caps, and the necessity of stop-loss orders among others. These rules necessitate a disciplined approach to risk management. Audacity Capital also imposes strict rules, like the consistency rule, daily loss limits, and a maximum trading day limit. Both firms prohibit news trading and weekend holding, aiming to mitigate volatile market risk.

Deposits and Withdrawals

Deposit and withdrawal options are vital for traders. Alphachain restricts deposits to credit/debit cards, while withdrawals can be made via bank wire or crypto. Audacity Capital opens more avenues with bank wire, credit/debit card, and crypto options available for both deposits and withdrawals. These policies may affect the liquidity and ease of fund management for traders.

Account Offerings and Financial Instruments

Both prop firms are trading in US dollars, but Alphachain's tiered account sizes from $10,000 to $50,000 offer various entry points for traders with different capital availability. The broader selection of tradeable instruments, including cryptocurrencies, compared to Audacity Capital's offerings, can cater to a wider range of trading preferences.

Uniqueness and Trader Value

Both Alphachain and Audacity Capital provide distinct advantages that appeal to different types of traders. Traders must weigh scalability, direct funding, educational support, and rule restrictions across both firms to align with their individual trading style and goals. The critical decision comes down to weighing personal values like immediate large-scale funding against the requirement for discipline imposed through firm rules, combining individual trader needs with proprietary firm offerings.