- 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.
Lux Trading Firm
- Free Trial available
- Impressive Trustpilot rating of 4.5/5
- Opportunity to scale up to 10 million USD
- Prompt email support
- No deadline on achieving profit targets
- Permission to hold over the weekend
- 75% profit share
Cons ❌
Alphachain
- Restrictions on lot size
- Minimum of 30 active trading days required
- Prohibition on news trading and holding positions over weekends
Lux Trading Firm
- Restriction of 4% on maximum relative drawdown and loss limit
- Limited leverage of 1:1, 1:5, and 1:10
- Stringent minimum trading day requirements
- Confined to a single trading segment
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
Lux Trading Firm
Maximum Loss, Minimum Trading Days, Profit Target, Stop Loss Required, Third Party Copy Trading Risk, Third Party EA Risk
Alphachain and Lux Trading Firm stand out in the proprietary trading firm space with their unique offerings for retail traders. While both firms provide opportunities for traders to operate substantial accounts and earn from the financial markets, they differ significantly in their operational model, trading conditions, and growth potential. Alphachain, established in August 2020, pitches itself with a significant scaling potential and a focus on education, whereas Lux Trading Firm, in the market since January 2021, prides itself on their relaxed approach towards profit targets and a very high ceiling for scaling.
Account Growth and Profit Sharing
Alphachain offers a scaling potential of up to $1,280,000, which is very commendable. Furthermore, they strike an exceptional balance with education, offering premium instruction and mentorship. Retail traders who appreciate structured growth and educational support will find this appealing. Meanwhile, Lux Trading Firm steals the limelight with an opportunity to scale up to a staggering 10 million USD and a generous 75% profit share method, which is sure to attract high-volume traders looking to maximize their earnings.
Trading Conditions and Restrictions
Of paramount importance for traders are the conditions under which they operate. Alphachain allows overnight holding, which is vital for swing traders, but their prohibition on weekend holding could be a significant deterrent for some. Additionally, their restrictions on lot size and prohibition on news trading could be seen as a double-edged sword, ensuring risk management while potentially limiting trading strategies.
On the other hand, Lux Trading Firm allows for weekend holding and offers a no-deadline approach to achieving profit targets, which provides a relaxed trading environment. However, their restricted leverage options indicate a conservative approach. This could be perceived as limiting for traders who rely on leverage to enhance their earnings.
Financial Transactions and Instruments
Both firms provide typical deposit methods such as credit/debit cards, but Lux Trading Firm takes the lead by also offering bank wire and crypto options, catering to a broader audience. In terms of withdrawal, there is parity with both firms offering bank wire and crypto withdrawals.
Furthermore, while both firms offer trading in commodities, crypto, forex, and indices, Lux Trading Firm steps ahead by including stocks in their repertoire, offering their users a more diversified trading experience.
User Experience and Support
Alphachain's high Trustpilot rating indicates a satisfied user base, which is complemented by their array of account programs and educational sessions. Lux Trading Firm slightly trails with its Trustpilot rating but compensates with prompt email support and a free trial option that could sway newcomers to give their platform a shot before committing fully.
Rules and Requirements
Alphachain enforces a set of rules, including a minimum of 30 active trading days and a no EAs (Expert Advisors) allowed policy, which could be seen as restrictive. Lux Trading Firm's rules, albeit having its set of limitations such as stringent minimum trading day requirements and a maximum relative drawdown, seems to offer a bit more flexibility by not imposing restrictions on news trading.
Conclusion
In the landscape of prop firms, both Alphachain and Lux Trading Firm offer distinctive advantages and some limitations. Alphachain could be ideal for traders who prefer a structured path with educational support and can work within stricter trading confines. Conversely, Lux Trading Firm offers a less stringent but potentially more precarious path to scaling up, with a higher profit-sharing ratio and a wider range of instruments to trade.
Retail traders should weigh their trading style, risk appetite, and growth aspirations before aligning with either of these distinguished prop firms. It's crucial to look past just the numbers and consider the overall trading conditions and educational support that match one's trading philosophy and long-term objectives.
