- Scaling potential up to $1,280,000 with a 4.7/5 Trustpilot rating.
- Options for basic evaluation, direct funding, and five account programs.
- Inclusive of preparatory educational sessions.
- Overnight holding permitted (Monday - Friday) with 1:100 leverage.
- Premium instruction and mentorship from industry experts.
FTMO
- Over 4k Trustpilot reviews at 4.9/5 with exceptional 24/7 customer support.
- Trading Psychologist available, scaling plan, and CEO's public visibility.
- Free trial, infinite evaluation retries, and bi-weekly payments at 80%-90% profit.
- Flexible trading: no cap on duration, minimum 4 days, 1:100 leverage, and diverse tools.
Cons ❌
Alphachain
- Restrictions on lot size
- Minimum of 30 active trading days required
- Prohibition on news trading and holding positions over weekends
FTMO
- Educational videos suit beginners more
- Maximum of 2 accounts at $200,000 each
Rules 📋
Alphachain
Lot Size Limit, Maximum Loss, Maximum Weekly Loss, Minimum Trading Days, No EAs Allowed, No News Trading, No Weekend Holding, Profit Target, Stop Loss Required
FTMO
Maximum Daily Loss, Maximum Loss, Minimum Trading Days, No News Trading, Profit Target, Third Party Copy Trading Risk, Third Party EA Risk
Alphachain emerges as an appealing choice for traders who seek growth, with an impressive scaling potential up to $1,280,000, substantiated by a strong Trustpilot rating of 4.7 out of 5. The firm accommodates various trading preferences by offering several account programs along with options for basic evaluation and direct funding. Noteworthy is their inclusion of educational sessions aimed at preparing traders, coupled with the bonus of being able to hold positions overnight during weekdays. Leveraging at a considerable 1:100, their commitment to nurturing talent is clear through the premium instruction and mentorship from recognized industry veterans.
Nonetheless, some traders may find the restrictions on lot size somewhat constraining, and the mandate of 30 active trading days might dampen the spirits of those desiring more immediate results. Furthermore, the prohibition on news trading and weekend position holding could be seen as limiting by traders who thrive on market volatility during such periods.
Analysis of FTMO
FTMO stands tall with an exceptional Trustpilot score of 4.9 out of 5 from over 4,000 reviews, which speaks volumes about their customer satisfaction. The firm not only offers a scaling plan but distinguishes itself through round-the-clock customer support and the valuable addition of a Trading Psychologist. The free trial, unlimited evaluation retries, and the attractive prospect of bi-weekly profits sharing at 80%-90% further bolster its appeal. FTMO's flexible trading conditions, including the absence of a cap on trading duration and diverse trading tools, ensure a tailored experience for each trader.
Nevertheless, the educational resources provided by FTMO may appear elementary for seasoned traders, as they tend to favor beginners. Additionally, traders aiming for higher capital may find the cap of two $200,000 accounts a limitation when looking to scale further.
Comparative Understanding of Rules and Financial Operations
When it comes to rules, both Alphachain and FTMO hold certain restrictions that traders must adhere to. Alphachain's constraints encompass lot size limit, mandatory stop loss, no use of Expert Advisors (EAs), and no news trading, among others. In contrast, FTMO's regulations include a maximum daily loss and the prohibition of third-party copy trading, stressing on a personal touch in trading strategies. Both firms enforce rules against news trading and define clear profit targets and maximum loss limits.
In terms of financial transactions, both firms offer modern deposit and withdrawal methods, though FTMO presents a broader array with bank wires, credit/debit cards, and cryptocurrencies. This expanded choice grants global traders more flexibility in fund management.
Evaluation of Account Sizes and Instruments
Alphachain provides account sizes ranging from $10,000 to $50,000 in USD, which suggests a more traditional approach focused on forex criteria. On the other hand, FTMO facilitates trading in multiple currencies like AUD, CAD, CHF, CZK, EUR, GBP, and USD, directly appealing to a global trading audience. The range of instruments paints a similar picture; FTMO offers a wider variety including bonds, metals, and stocks, in addition to the commodities, crypto, forex, and indices provided by both firms. This breadth of choice signifies FTMO's broader spectrum for trading opportunities.
Foundational Transparency and Longevity
The founding date can sometimes impact the legacy and stability perceived by traders. Alphachain entered the market in August 2020, placing it among newer entrants in the prop trading scene. In contrast, FTMO's inception in September 2015 lends it a longer operational period, often translated into a more stable and trusted reputation.
Final Considerations for Potential Users
In conclusion, the choice between Alphachain and FTMO boils down to individual trader preferences. Alphachain stands out for its scaling ability and educational commitment, ideal for traders looking to grow with guidance. FTMO offers unparalleled customer support, a wide array of instruments, and more flexible trading conditions. Both possess distinct advantages and limitations, but for a retail trader looking to make an informed decision, the outlined perspectives provide a comprehensive understanding of what each prop trading firm can offer.
