Jeremy Biberdorf
By: Jeremy Biberdorf
Nov 13, 2023

Alpha Capital Review 2024

Jeremy Biberdorf
By: Jeremy Biberdorf
Nov 13, 2023


Disclosure: This page may contain affiliate links. This means we earn a small commission (at no additional cost to you) if you purchase a product through our links.
Disclosure: This page may contain affiliate links. This means we earn a small commission (at no additional cost to you) if you purchase a product through our links.
Alpha Capital Review


1.0 rating based on 5 ratings


Alpha Capital, once praised as a forex prop firm revolutionizing the trading industry, now faces scrutiny. Claims of transparency and trader empowerment have been overshadowed by an array of negative experiences. Traders report an analytics dashboard that complicates rather than clarifies, and a platform that appears more focused on collecting fees than fostering success.

Their promise of $0 commission trades and supportive features like 1-on-1 risk calls has been called into question. Traders share stories of encountering hidden costs and support that’s lacking when it’s needed most. The allure of unlimited trading days and competitive spreads fades when weighed against the frustration of a cumbersome withdrawal process and alleged profit errors.

The two-phase challenge is criticized for its obscure rules and profit targets that seem just out of reach. Traders are beginning to view Alpha Capital not as a ladder to success but as a mirage in the forex desert.

Service TypeFees
Prop Trading FirmVariable
Pros & Cons
  • Previously applauded for flexible account options and a strong support system.
  • A free trial was available, though it's now seen as a mere hook.
  • News trading allowed, providing a semblance of market engagement.
  • A two-phase evaluation that's increasingly seen as a revenue stream for the firm.
  • Reports of maximum lot exposure rules hindering funded account freedom.
  • Limited asset choices, leaving traders feeling boxed in.
  • Growing chorus of users claiming Alpha Capital operates like a scam.
  • Difficulties cashing out profits, casting doubt on the firm's integrity.
  • Common complaints revolve around unexpected exam fees and payment errors.

Alpha Capital Overview

Initial Capital $10,000 – $200,000
Price Range $97-$997
Profit Split80%
Daily Loss5%
Max Drawdown10%
Profit Target8%
Tradable Products Commodities, Forex, Indices

The Unraveling of Alpha Capital’s Promise

Alpha Capital’s claim to fame as a proprietary trading firm empowering traders to handle up to £2,000,000 is under fire. With more traders labeling their experiences as negative, the company’s extensive platform, including educational videos and customized trading technology, has lost its luster.

Allegations of scam-like practices and profit withdrawal issues have tainted Alpha Capital’s image.

The once-celebrated onboarding process and 1-on-1 mentoring sessions now fall short, overshadowed by reports of inefficiency and lack of true support.

55Brokers deemed Alpha Capital ‘not safe to trade.’ Read their full analysis here.

How Alpha Capital (Doesn’t) Work

The two-phase evaluation process, designed to identify and empower successful traders, is now under the microscope. Phase 1’s unlimited days and Phase 2’s supposed ease are seen not as opportunities but as part of a strategy to collect fees without a genuine pathway to funding.

The once straightforward objectives are now viewed as part of a scheme, with profit targets and loss limits that seem to benefit the firm more than the trader.

Funded Account or Funded Fantasy?

What was once sold as a trader’s ticket to flexibility and growth is now criticized as a mirage. The continuation of the same risk management guidelines from the evaluation phase into the live funded account is seen as a ploy, with maximum lot exposure rules adding to the traders’ woes.

The lack of a profit target in funded accounts, initially a perk, now appears as a vague criterion for success.

Alpha Capital Account Sizes and Prices: A Costly Gamble?

The variety of account sizes, from $10,000 to $200,000, is now overshadowed by skepticism. Traders feel the fees, which range from $97 to $997, are steep investments for an uncertain return, questioning the promise of capital growth up to $2,000,000.

Free Trial or Bait?

The 14-day free trial, once an enticing offer to experience Alpha Capital, is now perceived as a bait-and-switch tactic. Traders enter hopeful but often leave disillusioned, wondering if the trial was just a lure into a profitless endeavor.

The Illusion of the Scaling Plan

The scaling plan, which promised account growth for achieving a 10% growth, is now under suspicion. Traders see the plan as an unrealistic dream, with few ever reaching the compound growth necessary to scale their accounts.

Payout Problems: A Red Flag?

Bi-weekly payouts and the promise of same-day processing are now questioned after multiple reports of payout issues. Traders experience delays and errors, contradicting the firm’s claim of a streamlined withdrawal process.

Tradeable Assets or Tradable Troubles?

The options to trade Forex, Commodities, and Indices, once a draw, now seem limited. Traders seek more diversity and freedom, which Alpha Capital’s current offerings fail to provide.

Broker Doubts and Trading Platform Woes

ACG Markets, Alpha Capital’s in-house proprietary execution broker, and the MT5 trading platform are now viewed with skepticism. Claims of institutional standards and ultra-fast execution are weighed against traders’ stories of subpar performance and frustration.

Support System or Support Scam?

The once-praised customer support system is now criticized for its lack of effective assistance. The Discord channel and email support, intended to aid traders, are now seen as just part of the facade.

Customer Reviews: A Tide of Discontent

Trustpilot’s 4.6-star rating is now overshadowed by a rising tide of negative reviews. More traders are coming forward with accounts of a platform more interested in fees than in fostering genuine trading success.

Here’s what a few reviewers had to say:

1- “A dying breed of prop firm. Looking to close your account rather than build a relationship. I passed a funded challenge 200k and was closed for ‘martingale’ trading which wasn’t the case. Wouldn’t recommend these guys. Funded engineer and bespoke funding are better and cheaper and looking to work with traders not be a casino which doesn’t pay out like these guys. Would be surprised if prop firms like this exist 6 months from now. AVOID.”
2- “scam fund. just cheat the exam fee. no real funding. see a profitable trader is a live account withdrawal fund. I lost 2 accounts. the fund responded that the reason for the violation was absurd. no evidence. When it comes time to withdraw profits, the game is bad. Please stay away from this fund.”
3- “After making over $11000 profit on my $200k funded account, On the 02 August 2023, I requested my profit split on my 1162674 account, after 2 days my account was flagged and I was told that there’s an account that was using same IP address as mine during a competition and because of that my account is due for management review…”

A Noteworthy Alternative: Elite Trader Funding

Amidst the growing concerns about Alpha Capital, traders in search of reliability and transparency are increasingly turning to Elite Trader Funding. This prop trading firm has carved a niche for itself by offering a platform that’s not just trader-friendly but also centered around the realistic success of its users.

Here’s a closer look at what makes Elite Trader Funding stand out as an alternative.

Trader-Centric Approach

At Elite Trader Funding, the focus is on enabling traders to succeed. The platform is designed with the trader’s growth in mind, offering substantial profit splits and fostering an environment conducive to skill enhancement and financial success.

Flexible Evaluations and Conditions

Catering to a diverse trading community, the platform provides multiple evaluation paths, each customizable to the trader’s style and preferences. This includes flexibility in trading hours, making it a favorite among day and swing traders alike.

Profit Sharing Model

Elite Trader Funding boasts a lucrative profit-sharing model, allowing traders to retain a significant portion of the profits — a clear indication of the platform’s commitment to its users’ financial achievements.

Standout Features:

  • Variety of evaluation types for different skill levels and strategies
  • A high-profit split, with traders keeping 80% of profits post the initial threshold
  • Absence of restrictive trading hours, giving traders the freedom to operate on their schedule
  • Option for account resets, allowing traders another shot at success without extra cost

Elite Trader Funding is not just another prop firm; it’s a platform that aligns itself with the goals and ambitions of its traders. Whether you’re an emerging talent in the trading world or a seasoned professional looking to scale new heights, Elite Trader Funding provides the tools and terms to help you thrive.

With their transparent practices and a strong emphasis on trader profitability, it’s no wonder that they’re seen as a beacon of hope for many disillusioned by the challenges encountered with other firms.

For those who have faced setbacks with Alpha Capital or are on the lookout for a more supportive trading environment, Elite Trader Funding may just be the key to unlocking your potential in the markets.

Final Thoughts

Alpha Capital has been marred by claims of scam-like behavior and profit cash-out difficulties. This tarnished reputation makes one wonder if the firm’s original commitment to trader success was ever genuine.

For those seeking a more reliable and transparent trading experience, Elite Trader Funding emerges as a preferred alternative. With its flexible trading conditions, minimal rules, and favorable profit splits, it stands out as a haven for traders disillusioned by Alpha Capital.

Seeking a trusted partner in your trading journey? Elite Trader Funding may be the answer. With its trader-centric approach and commitment to flexibility and fairness, it offers a fresh start for those burned by false promises. Click here to explore a new path with Elite Trader Funding and reclaim control of your trading destiny.

Get a 5% discount with our link.

Frequently Asked Questions

If you purchase the evaluation program directly through Alpha Capital’s main platform, the account credentials are sent instantly. If purchased via the sales page, the credentials are usually sent within a few hours but may take up to 24 hours. Alpha Capital is committed to providing prompt access, ensuring traders can start their journey swiftly.

Yes, Alpha Capital imposes no trading restrictions around news or high-impact news releases. Traders have the freedom to capitalize on market opportunities during these times.

Yes, Alpha Capital allows traders to hold their positions overnight and over the weekend, offering flexibility in their trading strategy.

Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. He’s a father of 2 beautiful girls, a dog owner, a long-time online entrepreneur and an investing enthusiast.

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