- Direct funding up to $500,000 without evaluation.
- Trustpilot rating of 4.7/5 and excellent customer service.
- Scaling plan with unrestricted timeframe and 10% fixed drawdown.
- Flexibility: Overnight holding (Mon - Fri) and account doubling at 10% profit.
- Benefits: Free retake & 14-day extension for Ability Challenge.
Funded Academy
- Real accounts with up to $1,000,000 in genuine capital.
- Bi-weekly payouts with profit shares of 70% to 90%.
- 1:100 leverage for Standard challenge accounts.
- Permitted overnight positions and news trading.
- Exclusive benefits for Extended challenge accounts.
Cons ❌
Audacity Capital
- No free trial
- No trading or holding over the weekend
- 50% profit split
- Monthly platform charges
Funded Academy
- Lot size restrictions
- 1:10 leverage on Extended challenge accounts
- Monthly payouts on Extended challenge accounts
Rules 📋
Audacity Capital
Consistency Rule, Lot Size Limit, Maximum Daily Loss, Maximum Loss, Maximum Trading Days, Minimum Trading Days, No News Trading, No Weekend Holding, Profit Target
Funded Academy
Lot Size Limit, Maximum Daily Loss, Maximum Loss, No Weekend Holding, Profit Target, Stop Loss Required, Third Party Copy Trading Risk, Third Party EA Risk
When considering prop trading firms, traders are faced with numerous options, each offering a unique combination of benefits and constraints. Two notable firms in this space are Audacity Capital and Funded Academy. Audacity Capital offers direct funding, excellent customer service, and a scaling plan that favours trader growth. In contrast, Funded Academy provides substantial capital allocation, aggressive profit sharing, and the flexibility to hold positions overnight and engage in news trading.
Direct Funding Versus Progressive Evaluation
Audacity Capital provides a significant draw for traders with its direct funding approach, which circumvents the traditional evaluation phase. Retail traders looking to bypass the stress of a probationary period might find this advantage appealing, particularly as direct access to as much as $500,000 in trading capital is a rarity in the industry. Funded Academy, while offering real accounts with up to $1,000,000 in capital, adheres to a more conventional approach with a challenge that traders must pass to prove their skill.
Profit-Sharing and Financial Leverage
A critical point of differentiation is the profit-splitting terms and leverage offered by these two firms. With a 50% profit share, Audacity Capital may seem less generous when compared to Funded Academy's 70% to 90% share. Yet, this difference might be justified by the immediate funding access Audacity provides. Moreover, leverage is another consideration; while Funded Academy offers higher leverage at 1:100 for standard accounts, traders should be cautious as this can amplify both profits and losses.
Trading Conditions and Restrictions
Trading flexibility concerning news events and position holding also varies significantly between Audacity Capital and Funded Academy. The former has more restrictive rules, including a ban on news trading, which could dampen the strategies of some traders. On the contrary, Funded Academy's allowance for news trading adds strategic depth for those who specialize in trading economic events.
Customer Service and User Feedback
Audacity Capital's stellar Trustpilot rating indicates a high level of customer satisfaction and hints at a customer-centric approach, which is a crucial factor in building trust with traders. This aspect, coupled with their clear scaling plan, reflects a commitment to maintaining long-term relationships with their clients by incentivizing successful trading.
Accessibility and Inclusivity
Concerning account access and inclusivity, the two firms provide standard deposit and withdrawal methods, ensuring that traders worldwide can participate. However, the smaller account size options at Audacity Capital might be less intimidating for newbie traders or those with limited capital, making it an attractive starting point for many individuals entering the prop trading space.
Product Offerings and Market Range
In terms of market diversity, Funded Academy showcases a broader range of tradable instruments including cryptocurrencies, metals, and stocks, which may appeal to traders looking for a more varied portfolio. Conversely, Audacity Capital sticks to more traditional assets like commodities, forex, and indices, which might align better with traders who prefer to focus on conventional markets.
Risks and Limitations
Both firms enforce certain restrictions to mitigate risk, with Audacity Capital placing a cap on lot size and preventing weekend trading. Funded Academy not only restricts lot size but also necessitates the use of stop losses and warns against the risks associated with third-party copy trading and expert advisors (EAs). These constraints might suit careful traders or could be seen as an impairment to others' strategies.
Concluding Thoughts
Ultimately, the choice between Audacity Capital and Funded Academy hinges on individual trading style, preference for immediate funding versus the challenge of earning a place, and the importance of customer support versus profit potential. Retail traders must reflect on these aspects, along with their own risk tolerance and strategic approach, to make the best decision for their trading career ambitions.
