Alphachain Traders Review 2024
Alphachain Traders is a prop trading firm that offers funded accounts, as well as an academy to mentor the next generation of talented traders. This review will cover how Alphachain Traders works, from online account fees to discount codes. We also detail the pros and cons of Alphachain Traders so you can decide whether to open a funded trading account.
What Is Alphachain Traders?
Alphachain Traders is a prop trading institute established in 2017, with headquarters based in London, the UK. It offers products for both novice and experienced traders. The company provides services in over 67 countries.
In 2021, Alphachain funded 534 traders, with an account value of $6.5 million. All prop trading programs are certified by CPD (Continuing Professional Development). Investors can access 100+ trading instruments including forex, indices, commodities and cryptocurrencies. Trades are executed on the MetaTrader 4 (MT4) terminal with leverage up to 1:100.
As well as funded trader accounts, The Alphachain Academy is designed to help beginners develop their trading skills. The program, designed for aspiring and novice investors, provides access to a team of experts nurturing success.
Many traders who begin with Alphachain progress to work for the likes of JP Morgan or Deutsche Bank as junior analysts or similar career paths.
How Alphachain Traders Work
Accounts For Novice Investors
Alphachain Traders emphasize having a service for everyone, with previous trading experience not being a limitation.
For novice traders, the best way to gain access to a funded account is to complete the evaluation registration and pay for a specialist training course. These programs are designed to provide individuals with a fair chance and the skills needed to achieve a live funded profile.
The bespoke courses allow you to work at your own pace, utilizing virtually funded accounts and expert trading tools. A live funded account is available to successful investors once the course is complete.
Programs available:
- Cryptocurrency Trader Program: An initial 1-month training period, the course is designed to provide you with the support and training needed to trade cryptocurrencies at a CPD-accredited level. The unique topic covered in this course is on-chain analytics. The cost is £2,250 (inc. VAT).
- Algorithmic Trader Program: During the 3-month course you will be taught how to develop, test, and execute algorithmic trading strategies. Using the $20,000 evaluation account funding, clients can receive 50% of all profits made. For a cost of £3,420 (inc. VAT), you will receive 1-2-1 mentoring, a clear progression plan and webinar guidance.
- Cryptocurrency Algorithmic Trader Program: The cryptocurrency program covers theoretical market concepts. The course provides expert training for users to develop algo coding skills to implement fully automated financial models. To complete the course a strategy assignment is set, where individuals must show the skills they have developed throughout the project timeline. The course costs £3,950 (inc. VAT) for the 3-month program.
- Global Trader Program: This vocational program will provide you with the credentials to trade at a CPD-accredited level. You will be supported with daily interactive webinars, as well as 1-2-1 mentoring with the CEO and owner, Adam Haeems. The well-rounded program integrates topics such as trading psychology, investing techniques and understanding morning market announcements. The program cost is £3,420 (inc. VAT) for a 3-month course.
- Funded Forex Trader Program: The newest specialist-funded program is designed for individuals to develop in-depth industry knowledge and experience in the global forex markets. Under the guidance of a mentor, you will begin to analyze various charts using TradingView to identify patterns and trading opportunities. The program is designed initially as a 1-month course with the scope to increase depending on proven success. This is the cheapest course at £1,950 (inc. VAT).
On completion of the 1 month or 3-month programs, individuals will be offered access to trading capital as fully-fledged prop trading members. Traders must proceed on to a subscription-based profile to continue development.
The monthly membership is designed to provide continued support whilst users are getting started in their funded journey. The paid-for service gives individuals access to live data feeds, trading platform maintenance, 1-2-1 mentoring with the CEO and Head of Trading Academy, daily webinars, global community involvement, and more.
Funded Accounts For Experienced Traders
Experienced traders do not need to complete an evaluation program or pay for a course to be given access to a funded trading account. Simply apply to the Alpha Funded Trader program, also known as the direct funding route.
A questionnaire will need to be completed. Our experts found this takes less than 2 minutes to complete, requiring details of previous trading experience and attitude to risk management.
Once verified, clients must pay a one-time joining cost to gain immediate access to a funded profile. You have the choice of either a $15,000 account or a $20,000 account.
$15,000 Funded Trading Account
- 1:100 leverage
- 50% profit split
- Weekly risk limit of 5%
- Maximum lot size of 0.75 lots
- An initial target of 10% at each level
- A one-time set-up fee of £795 including VAT
- You receive a pay-out each time a target is reached
- Maximum 10% drawdown – based on starting balance
- Forex, equity indices, and commodities are available
- Trade overnight and hold trades over weekends on request
- A maximum allocation of $1 million – your allocation is doubled each time a target is reached
- Positions must be closed during major economic data releases or news and can be opened 30 minutes later
$20,000 Funded Trading Account
- 1:100 leverage
- 50% profit split
- Weekly risk limit of 5%
- Maximum lot size of 1 lot
- An initial target of 10% at each level
- One-time set up fee of £999 including VAT
- Forex, equity indices, and commodities available
- You receive a pay-out each time a target is reached
- Maximum 10% drawdown – based on starting balance
- Trade overnight and hold trades over weekends on request
- A maximum allocation of $1 million – your allocation is doubled each time a target is reached
- Positions must be closed during major economic data releases or news and can be opened 30 minutes later
Note, Alphachain clients are not permitted to purchase EAs and apply them to funded accounts.
Market Access
As a funded investor, you can make positions on 100+ instruments across forex, indices and commodities. Cryptocurrency may also be available depending on your country of residency.
Instruments include major currency pairs such as the GBP/USD, EUR/USD and USD/NZD. 10 equity indices can be invested in including the FTSE100, S&P 500 and Dow Jones. Commodities include Gold, Brent Oil and Crude Oil.
Pricing
Our review was pleased with Alphachain’s cost transparency. For direct funding investors, the firm does not charge any additional fees except for the initial joining cost (£795 for a £15k funded account or £999 for a £20k funded account).
The Alpha Funded Traders product is risk-free. This means that you will not be liable for any losses during the process so you can trade without the stress of losing your own money. You must maintain a balance above the weekly loss limit.
Novice investors applying via the evaluation programs also have a one-off course charge, which is outlined above. Once a course is completed, users are liable for a monthly membership subscription fee of £99.
It is good to see no additional fees, a benefit vs Topstep, for example, with exchange data subscriptions starting from $116 per month.
Pros Of Alphachain Traders
- Several asset classes
- 1:100 leverage available
- Direct funding or evaluation route
- Programs designed by experience level
- Access to helpful resources for every program
- Direct funding account applications can be approved within 24 hours
- Direct access to customer services via an email address and phone number
Cons Of Alphachain Traders
- MT4 platform only
- The minimum active trading time is 30 days
- 50% profit split is limited vs competitor prop firms
Regulation & Security
As Alphachain Traders is not a broker-dealer, it is not regulated by a financial body. This includes a license from the Financial Conduct Authority (FCA). This is standard for private funds, with no legal oversight requirements.
When using the Alphachain Traders platform, the high security standards implemented by MetaTrader are evident. Data transmissions are fully encrypted. Users can also add two-factor authentication (2FA) login protection and one-time passwords (OTP) for transaction verification.
Note, the firm is registered as Alphachain Academy Ltd under Companies House registration number 12824777.
Customer Support
The prop trading firm provides various customer service methods, available Monday to Friday, 8 AM to 5 PM GMT. Our experts were pleased to see an email address (info@alphachain.co.uk), telephone number (020 7097 3984) and HQ office address.
The company is also active on social media sites including LinkedIn, Twitter and Facebook.
Should You Get Funded With Alphachain Traders?
Alphachain Traders has created extensive funded trading products, ideal for both experienced and novice investors. The catalog of evaluation programs ensures there is something for all trading styles and experience levels. It is also clear the company has a focus on developing aspiring traders into successful individuals. Advanced traders, however, may feel limited by the lack of proprietary software and restricted profit payout vs competitors.
FAQs
How Much Does An Alphachain Traders Funded Account Cost?
Alphachain Traders apply a one-off joining fee for funded trading accounts, which varies by buying power; £795 for a £15k profile and £999 for a £20k profile. Alternatively, those looking to join the brand via the evaluation process will need to pay for training courses ranging from £1,950 to £3,950.
Is Alphachain Traders Legit?
AlphaChain Traders is a trusted prop trading company with a long list of positive reviews left by traders in recent years. As the firm does not strictly offer any financial services, regulation is not required.
Where Can I Learn More About Alphachain Traders?
It is worth checking out the FAQ section on Alphachain’s website. Additionally, Facebook forums or the company’s Twitter profile are great places to get information on the firm.
Can I Get A Discount On Alphachain Traders?
Alphachain Traders does not offer any promotional codes. With that said, fee reductions may be offered occasionally by the firm so head to their social media channels and news announcements for the latest updates.
Does Alphachain Traders Work With Other Trading Platforms?
Alphachain Traders works via MetaTrader 4 only. This industry-renowned platform provides plenty of tools and features to execute trades successfully. Nonetheless, you can utilize plug-in services from CryptoQuant and TradingView.
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| Alphachain Traders is a UK-based prop trading firm that offers funded trading accounts and hands-on training courses. | ||