Audacity Capital stands out as a prop trading firm that appeals to traders who are confident in their trading skills and looking for direct funding without an evaluation process. With a Trustpilot rating of 4.7/5, the firm has positioned itself as a reputable platform with excellent customer service. The option for traders to manage up to $500,000, a scaling plan that allows for growth without the pressure of a timeframe, and the unique benefit of doubling the account size upon reaching a 10% profit gives traders substantial room to advance their careers.
TradingFunds comes across as a newer and dynamic prop firm, incorporated in February 2023, offering traders a straightforward, single-step evaluation process. With leverage ratios ranging from 1:10 to 1:100 and high profit sharing between 80% to 90%, this firm could be perfect for traders who prefer high-risk and high-reward scenarios. Additionally, the flexibility to trade over the weekend and during major news events makes it an attractive option for traders who don't want to be limited by time constraints.
When it comes to the perks, Audacity Capital clearly favors the seasoned trader with its up to $500,000 direct funding and the distinctive offer to double this for successful traders. The customer support and free retake for the Ability Challenge are commendable services. However, the lack of a free trial, weekend trading, and the 50% profit split could be significant drawbacks for some. Moreover, the additional monthly platform charges could chip away at trader profits.
TradingFunds, though newer in the market, counters with a compelling profit sharing offer and the absence of restrictions on trading strategies. Nevertheless, the higher fees for evaluation accounts, the starting leverage at the lower end, and a 2% maximum stop-loss restriction can be limiting. The trailing drawdown condition also requires careful risk management by traders.
Audacity Capital imposes a set of stringent rules, including lot size limits and consistency requirements, that might clash with the trading styles of some investors, especially those who are aggressive or employ complex strategies. The no news trading and weekend holding rules could be decisive for traders who thrive in volatile markets.
TradingFunds, albeit more lenient in strategy allowance, still maintains a structured approach with maximum trailing drawdown, stop loss requirements, and specific caveats for the use of third-party tools. These rules are less restrictive in terms of trading time windows but introduce cautionary parameters for risk management.
Both firms offer a range of deposit and withdrawal methods, catering to the convenience of global traders. Audacity Capital's integration of bank wires, alongside crypto, might appeal to those preferring traditional banking methods, whereas TradingFunds’s addition of PayPal and Deel can be seen as an effort to modernize and streamline payment solutions.
As for currencies, both firms operate in USD, simplifying the comparison for traders considering either option. However, TradingFunds extends its offering to a wider array of tradeable instruments, which includes metals alongside the common commodities, forex, and indices.
Choosing between Audacity Capital and TradingFunds comes down to one's trading style, risk appetite, and preferences in terms of flexibility versus structure. Audacity Capital holds favor with experienced traders looking for larger capital allocation and personal dedicative support but is stricter with its trading rules. Conversely, TradingFunds seems to target the adaptive trader, offering a broader instrument portfolio and payment options, with a slightly more relaxed set of rules. The newer firm’s generous profit-sharing scheme could be a game-changer for many, though the higher starting fees and the stringent risk parameters could deter others.
Retail traders and potential users must weigh these factors carefully. The ultimate choice should align with individual trading philosophies and financial goals, ensuring the chosen prop trading firm genuinely complements their roadmap to trading success.