Hi, welcome
Glad to have you here as we review Alpha Capital.
Today, I bought an Alpha Capital account—and I’ll explain why.
I had a discount code that let me purchase any $10K account for just $40, which is around £30.
So, I thought, why not? I love collecting prop accounts to trade 😉
Let’s look at what’s on offer.
Alpha Capital provides a few different options, and we’ll start with the basics.
Account Types
They offer three account types: One-Step, Two-Step, and Three-Step evaluations. Each one comes with different conditions and requirements.
One-Step Account
- Account size: $10K
- Leverage: 1:30
- Profit Target: 10%
- Maximum Drawdown: 6%
- Daily Drawdown: 4%
- Profit Split: 80%
Not bad overall. The profit target is more than the maximum drawdown, but I am ok with that here.
Two-Step Account
- Leverage: 1:100
- Phase 1 Target: 6% (you can set this to 8% or 10%)
- Max Drawdown: 6%
- Daily Drawdown: 3%
- Phase 2 Target: 6%
- Same drawdown limits apply in Phase 2
This one gives you more leverage and is a solid option too. It is worth noting that you can choose the target and max drawdown levels here, from 6%, 8% or 10% for the targets/max drawdown and the max daily drawdown being half these amounts.
Three-Step Account
- Leverage: 1:50
- Phase 1 Target: 8%
- Phase 2 and 3 Targets: 4% each
- Max & Daily Drawdowns: 6% and 4% across all phases
This sits somewhere between the other two in terms of difficulty and flexibility.
My Choice
I went with the One-Step account. It has a higher single target (10%), but I’m not too worried about that. The 6% max drawdown and 4% daily drawdown fit my trading style.
I only trade one asset and limit myself to three trades a day. Even if I aim for 1% per trade, I wouldn’t breach the daily drawdown.
The account was listed at $97, but with my “10KFOR40” discount code—which Alpha Capital emailed me—I got it for just $40.
(Note: This code might no longer be valid when you’re reading this.)
After applying the code, I proceeded to checkout. I chose:
- One-Phase Alpha One 10K account
- Platform: cTrader
There are a couple of settings you can adjust before completing the purchase:
- Choose between raw spreads or no commissions
- Enable or disable Expert Advisors (EAs)
I selected raw spreads because I’m trading on a lower timeframe (around 5-minute setups). I prefer paying fixed commissions and having tighter spreads. Some of my other accounts have wider spreads but no commission. It’s great to have both options available to choose from.
New Account Setup
Once purchased, here’s what the dashboard looks like for your new shiny $10K account—ready to start trading next week.
You’ll see:
- Trading activity
- Profit target progress
- Max drawdown tracking
- Number of days used, and more
Calendar View
There’s also a calendar view which I really like. It shows your daily results visually, which helps track performance over time.
Calendar view—probably my favourite feature. It shows:
- Each day’s profit or loss
Let me show you an example from one of my active accounts.
You can quickly see how handy this type of information can be for any trader, at a glance to see how their trading is doing.
Here’s a breakdown of a few weeks:
- One week: +$113, -$106, +$146, +$66 – a solid week overall
- Another week: -$100, -$50, +$15 – not so great
- Recent week: -$50, +$57, -$150, +$100 – kind of breakeven
The yearly view is also helpful. Showing you each months PnL in one place.
Trading on cTrader
I chose to use the cTrader app (not the web version, which I find a bit clunky). Here’s a quick look at it.
You can customize the layout to suit your preferences. Once set up, trading is straightforward:
- Choose risk per trade (e.g., $100 for a 1% risk on a $10K account)
- Set stop-loss and take-profit levels
- Click to place a trade
I’ve set it to require a double-click to avoid placing trades accidentally.
Final Thoughts
So that’s a quick overview of Alpha Capital and their accounts. I now have a few accounts with them and, to be honest, I’ve had a great experience so far.
They offer many options for you to choose and create your own custom trading arena. If you like building your own prop challenge, then these maybe the way to go for you!
See you next time
Stephen V
