Can i have a free retry if i finish in profit but failed to reach the target?
If a trader reaches the 30 days limit but hasn’t reached the required profit target and all other trading rules have been met, then the trader will be eligible for a FREE Retry.
There is no limit on the number of free retakes once a trader has purchased an Alpha Pro Challenge.
If the account is in profit at the end of the 30 days and no other rules have been breached, you will automatically qualify.
What are the time limits for each evaluation phase?
Traders have up to 30 business days to complete Phase 1.
Then you will move to Phase 2 where you will have up to 60 business days to complete the challenge.
Traders must trade for a minimum of 10 days within each phase.
How is the Max Daily Loss calculated?
Daily loss limit is calculated based on 5% of the starting balance of each trading day.
This is the Account balance at the close of the daily candle on broker time.
For example, if the account balance is $100,000 and your equity is $101,000 (at the close of the daily candle), then your max daily risk for the following day will be 5% of the starting balance of the day $100,000 = $5000, and the profits on your P/L carried over from the previous trading day will be added to your daily loss limit. in this case, $5000 + $1000 = $6000.
The daily loss limit for this given day would still be $5000, but you’re allowed to lose $1000 more of the floating profits for a total of $6000.
Alternatively, if the account balance is $100,000 and your equity is $99,000 (at the close of the daily candle) then the max daily risk for the following day would be 5% of the starting balance of the day $100,000 = $5000, and the losing positions on your P/L results carried over from the previous trading day will be deducted to your daily loss limit, in this case, $5000 – $1000 = $4000.
The daily loss limit for this given day would still be $5000 initially, but since there’s a carried loss of -$1000 then will be deducted from the daily loss limit, and now a remainder of $4000 is left to lose before the account is flagged as Failed as per the daily loss limit.
How often can i withdraw profits?
Profit withdrawals on funded accounts are available fortnightly There is no minimum withdrawal requirement.
Please submit a withdrawal request to Alpha Capital Group on the 14th & 28th of each month.
All withdrawals will be processed and paid within 3 business days.
Profit withdrawals will be sent via bank wire transfer.
We have partnered with a deliverable FX institution so our clients can benefit from low exchange rate fees when receiving profit withdrawals in their domestic currencies.
What trading platform do you use?
We use MetaTrader 5.
The award-winning MT5 is known for transparency when providing advanced trading functionality for ultra-fast execution, as well as superior tools for technical and fundamental analysis. MT4 is designed for CFD forex instruments, whereas MT5 is an all-in-one state of the art multi-asset trading platform.
What are the trading rules once fully funded?
The trading rules are the same on live funded account the that of the evaluation.
Depending on the plan you have selected, the same risk parameters will apply for both the evaluation phase and live funded.
The only rule that is removed is the profit target rule....make as much profit as you can!
Is there a legal agreement for funded accounts with Alpha Capital Group?
Is hedging and stacking allowed?
Yes, these are both allowed.
Stacking is classified as the opening of multiple trades in the same direction at the same price point.
Is Martingale allowed?
No this strategy is not allowed.
Alpha Capital Group consider Martingale strategies to be the following:
Opening a position in the same direction whilst the first position opened is in drawdown.
If the consecutive position is opened at an exponent more than 1x we consider this to be martingale strategy.
For example, if you open a 1 lot buy on GBPUSD, and this position goes into open drawdown, you can open additional buys on GBPUSD as long as the lot size is the SAME or SMALLER, you CANNOT INCREASE the position size..
Once all buys are closed on GBPUSD, you can then open a new first trade on GBPUSD at a position size of your choice unrestricted.
Are EA's and copy trades allowed?
Copy Trades we do not allow copy trading from other groups. We don’t not allow traders to copy other traders’ trades either. No Group copy trading is allowed.
The only copy trading allowed is that from your own external account to your account with Alpha capital group limited.
Any traders found copy trading other traders’ trades will be subject to review and potential breach of agreement, meaning you will lose the funded account.
What broker do you use?