Alpha Trader Firm claims to be registered in Saint Vincent and the Grenadines since 2022. The official ownership belongs to Alpha Trader Ltd with a registered address at Beachmont Business Centre, Suite 4, Kingstown, St. Vincent and the Grenadines. Does that mean they are operating there? Most likely not. 

In any case, prop trading has advantages and disadvantages compared to other forms of trading. Our honest Alpha Trader Firm review provides all the necessary details to make the proper decision.

Legal And Regulatory Info

One of the biggest advantages of prop trading firms is that any kind of regulation is not required. After all, everything is done on a virtual account. But on the other hand, that’s also a huge disadvantage. Lack of oversight allows companies to do whatever they want. In the end, it all comes down to one thing—trust. 

In any case, with offshore registration of this trading brand, traders might wonder if they are legit or not. Overall, there’s no reason not to trust the company if you don’t have a negative experience. But how would you know unless you try it? 

What Alpha Trader Firm Users Say?

When it comes to money, how can you trust any company? With regular trading firms, it’s easy, you trust only top-tier regulated ones. But that’s because you invest your own money. In this case, the only solution is user reviews. Even though the Alpha Trader Firm reviews look decent, 10% of those include a lot of complaints. And to be fair, out of 250 reviews, that’s quite a big number. 

If you compare it to UK-based Funded Trading Plus, you will realize how big a difference in service there is. Nevertheless, the key thing you must watch out for is the payouts. 

How Does Prop Trading Work?

Prop trading is designed to work for traders and companies at the same time. While the company earns money from your trades, you are collecting payouts regularly with a profit split of up to 90%. In the first place, traders have to pass certain evaluations. These could be formatted as one-step, two-step, or three-step phases. 

Some companies like Funded Trading Plus allow you to access the funded account directly without evaluation. But of course, it costs more. In any case, for a small fee, traders get virtually funded accounts where they prove their skills. Once they pass the challenge, with relatively fair conditions, they get funded account access and can start earning regularly.   

What Trading Platform Is Available?

As can be seen, the company advertises modern and advanced next-gen platform TradeLocker. Sadly, reviews can’t back up these statements of the Alpha Trader Firm prop firm. Certainly, compared to cTrader or Meta Trader, this platform has quite mediocre feature availability. 

Not to mention, this platform is not available for mobile devices, which makes it less popular for most traders. Anyway, to learn more about crypto trading features, we invite you to check our Mew Wallet and Bitonite reviews. 

What Are Alpha Trader Firm Evaluation Plans?

The offer with this prop firm includes one-step and two-step challenge phases. Both plans include funding of up to $300k in virtual funds and different conditions for minimum trading days. With a two-step challenge, traders can expect a 6% maximum daily loss and an 11% overall loss. When it comes to profit targets, in the first step you’ll have to reach 10% while in the second 5%. This plan doesn’t have any time limitations. 

On the other hand, the one-step challenge includes a 6% maximum loss and a 3% maximum daily loss with a 12% profit target. However, the catch here is a 10-day minimum trading period. One huge potential issue is the company’s offer of leverage of up to 1:200. 

How Much Does The Evaluation Cost?

To be fair, this company’s plans have quite an unclear pricing structure. They mention refundable fees, but the actual fees for these plans are not revealed. If we believe they just didn’t phrase it properly, you will have to put at least $250 aside to get started. It is quite an expensive journey for the average trader.   

You’ll have to pay at least $1,600 if you target the maximum funded plan. Luckily, in that case, you are way closer to a funded account program. Another important benefit of prop trading is that you can test a wide range of tools and strategies, such as AI tools, EAs, trading signals, etc. Most importantly, without risking your own capital in the market. 

Payouts With Alpha Trader Firm

The company generally offers regular and 7-day payouts. With standard ones, processing time takes up to 7 days, and you can choose from a wide range of payment methods. Most importantly, there are no fees. However, to apply for the first payout, you have to wait 30 days from your first trade. 

If you opt for a 7-day payout, you’ll have to pay for this add-on feature. Thus, the pricing is not declared anywhere, which puts a big shadow over this option. 

Customer Support Options

One of the concerning details besides Alpha Trader Firm pricing plans is customer support. With only e-mail and Discord available, you might not find quick answers when you need them. 

After all, the company’s support page shows they will reply within a few hours.  Compared to Funded Trading Plus, which offers a phone line, this support doesn’t seem as reliable as expected. 

Summary: Is Prop Trading Worth It? 

Indeed, prop trading can be a pretty profitable experience. Especially if you find the tools that will work for you. However, it’s the key to finding a reliable firm with fair pricing and no shady details. Indeed, if you compare AlphA Trader Firm with Funded Trading Plus, for example, there shouldn’t be any doubts. 

On top of all, Funded Trading Plus offers a wide range of promotions, giveaways, and discounts. Take advantage of those by signing up today with a UK-based firm with more than 2.100 positive reviews and thousands of satisfied traders.

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