- 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.
FTUK
- Instant funding with a single-phase evaluation and 4.6/5 Trustpilot rating.
- Supportive team allowing weekend/overnight positions and news trading.
- Zero commission on various assets, no swap charges, and swift payouts.
- 80% profit share, 1:100 leverage, and manage up to 3x $5,760,000.
Cons ❌
Alphachain
- Restrictions on lot size
- Minimum of 30 active trading days required
- Prohibition on news trading and holding positions over weekends
FTUK
- Starting leverage of 1:10
- 2% Max stop loss risk limit
- Lot size consistency rule
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
FTUK
Lot Size Consistency, Maximum Loss, No Martingale Allowed, Profit Target, Stop Loss Required, Stop Loss Risk Per Position, Third Party Copy Trading Risk
Both Alphachain and FTUK are notable contenders in the proprietary trading firm landscape, catering to different trader needs and preferences. The discerning nature of DayFunded places us in a unique position to dissect these firms and provide the retail trader a clear-cut comparison to aid their decision-making process. Let's delve into their offerings.
Alphachain: Scaling, Education, and Structure
Alphachain stands out with its impressive scaling potential, allowing traders to manage up to $1,280,000. This, coupled with a high Trustpilot rating, demonstrates a strong market presence and customer satisfaction. The firm offers a diverse selection of account programs alongside basic evaluation and direct funding options, which presents flexibility for different trading strategies and levels of experience.
With a considerable focus on education, Alphachain offers preparatory sessions and access to premium instruction and mentorship from industry veterans. The permissibility of overnight holding during the workweek and the leverage of 1:100 adds to its trader-friendly policies.
However, Alphachain enforces restrictions on lot size and requires a minimum of 30 active trading days, which may not align with all trading styles, particularly for those who base their trades around news events or prefer to trade on shorter time frames.
FTUK: Instant Funding and Flexibility
FTUK attracts traders with the prospect of instant funding and an uncomplicated single-phase evaluation process. Their slightly lower Trustpilot rating compared to Alphachain shouldn't be a deterrent, as it's still commendably high. The firm's 80% profit share is generous, and allowing traders to manage up to $5,760,000, multiplied threefold, is a significant draw.
Crucially, FTUK is more liberal with its trading policies, supporting weekend and overnight positions and news trading, which caters to a broader spectrum of trading strategies. Zero commission on many assets, no swap charges, and expedited payouts also make for an attractive package. However, the starting leverage of 1:10 and a strict 2% max stop loss risk limit may be viewed as restrictive by some traders.
Comparing Trading Conditions and Tools
Both firms instate rules including lot size regulations, maximum loss, profit target, and required stop loss, ensuring risk management is a priority. But Alphachain’s prohibition on news trading and weekend holds may deter traders who thrive in these environments or seek more freedom.
When comparing the tradeable instruments, the two are quite similar, with FTUK having the additional offering of metals which adds to their versatility. Account sizes and currencies also show a variance, with Alphachain sticking to USD, while FTUK offers more currency options which could be beneficial for international traders.
Funding and Withdrawals: Accessibility and Options
Payment processing options are crucial for traders, influencing the ease of funds movement. Alphachain sticks to traditional credit/debit card deposits and bank wire and crypto withdrawals. Meanwhile, FTUK expands on this, accepting crypto for deposits and adding Deel to its withdrawal methods, which may be a tipping point for traders seeking varied payout avenues.
Incorporation and Industry Standing
With Alphachain's incorporation dating back to August 2020 and FTUK's to December 2021, both firms are relatively young but have quickly established themselves in the field. The industry is continually evolving, and as such, the reputation and standing of a prop firm need constant re-evaluation. The relative recency of the two firms suggests a modern and perhaps more adaptable approach to trading and technology.
Final Thoughts
Alphachain and FTUK each offer unique advantages that cater to different trading styles and preferences. Where Alphachain excels in education and structured growth, FTUK shines with its instant funding, trading flexibility, and a broader approach to profit sharing. The decision for retail traders will hinge on which set of pros resonate more with their strategies, and which cons they're willing to navigate. As always, potential users should carefully consider their personal trading goals and risk tolerance before committing to a prop firm.
