We offer 100:1 leverage. It gives enough buying power to effectively boost our traders return.

Profit split is 50% on the profits you make above the initial balance figure. You will need to meet the target to receive your profit share. You can achieve the target within the first month or a few months, it is dependent on you trading performance. The assumption of the trader challenge is for experienced traders who are unable to provide a track record can complete the challenge and receive access to funds without needing to complete one of our programmes where you gain access to guaranteed funds.

The monthly subscription is mandatory and a required part of the challenge and thereafter as a funded trader. It ensures traders are working towards achieving their targets and accounts are not left idle.

No - trading closes at 10pm (BST) on Friday and opens at 11pm (BST) on Sunday.

You will trade on the popular Metatrader 4 (MT4) platform with our professional institutional ECN account with 1/100 leverage.

MT4 is a trading platform that is commonly used by Traders around the world. The platform is easily accessible for those who use windows though with MacOS there are a few things to be aware of. The latest update for MacOS; Catalina came with an inherent compatibility issue that does not allow Metratrader programs to function on the Mac operating system. Holders of older operating software’s such as Mojave may be able to avoid this issue by downloading ‘Wine’ and using ‘PlayonMac’ to install the program. Traders who have Catalina as their current operating software can utilise the following solutions:

1. Download and install Crossover; a third-party software with the ability to download Windows applications. This has become the most popular option for those who wish to continue to use Macbook for their Trading.
 

2. Purchase an affordable Windows Laptop/PC: This option will enable traders to run MT4 on their Laptop with ease.

No, all traders trade on a Windows or Mac computer, mobile trading is not permitted. Our data suggests that traders perform best when they are at a computer where they have easy access to charting tools, position calculators and other essential trading tools. Trading on mobile is not recommended for our traders.

Once you sign up and make you first payment please allow 24 hours to be sent your welcome information and trading account login details. Once you receive your login details for the trading account your challenge has begun.

If you have profits in your funded trading account which you would like to withdraw you can send an email to traderchallenge@alphachain.co.uk, with the subject ‘Withdrawal Request’, containing an invoice for the amount you wish to withdraw. The invoice should contain your trading account number and bank details. Withdrawals are usually processed with 7 working days.

If you fail the challenge you will have the opportunity to reset the challenge with a new account with new risk management breaches at your next payment date. Please notify the team if you would like your account to be reviewed and reset if you believe you may have breached one of the rules.

No, the trader challenge is risk free, even when you make it to the funded trading account! 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.

At this point you can contact a member of the team and request an account review by a risk manager. The risk manager will review your account to see if you have reached the target and kept within all risk management rules. Once reviewed and passed, your new account will be issued within 24 hours.

You can email traderchallenge@alphachain.co.uk and a member of the team will get back to you as soon as possible.

You are required to carry out a minimum of 10 days of trading in stage 1 evaluation and a minimum of 20 days of trading in stage 2 evaluation. There are no time limits in reaching your target. Generally 17% of trader’s will reach the target within one to two months, over 25% of trader’s will reach the target within three to four months.
 

A trading day is defined by the day the trader opens a trade. For example, if a trader opens a trade on Monday, and closes the same trade on Tuesday, this is counts as 1 trading day.

Why is this important?
 

• Proves to us and to yourself that your trading is consistent and reduces the effect of ‘luck’ in your trading

• Provides sufficient data for us to assess your trading style

• Give you the opportunity to trade in various market conditions
   

Remember you are on your own journey and base your performance on time allocated to trading and strategy development.

We are looking for consistency within your equity growth.

Traders have a variety of tradable assets. Forex, Commodities and Equity Indices can be traded. You are only permitted to trade the assets in the markets list. All other markets shown in the terminal must be hidden by the trader to avoid trading. Any markets which are traded which are not permitted will result in the failing the challenge. Please note each asset class will have a maximum exposure limit in addition to the risk management guidelines provided. The following is a list of securities permitted to trade:
 

• Forex Majors: EURUSD, GBPUSD, USDJPY, USDCAD, AUDUSD, NZDUSD, USDCHF.    

• Forex Crosses: AUDCAD, AUDCHF, AUDJPY, AUDNZD, CADCHF, CADJPY, CHFJPY,   EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURNZD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, NZDCAD, NZDCHF, NZDJPY. 

• Equity Indices: Dax, UK100, Eurostoxx, Nasdaq, Dow Jones, S&P 500

• Commodities: Gold, Brent Oil, WTI Oil

A trader must avoid trading any other securities not listed above and must ensure they access the correct symbol in MetaTrader 4 with the acronym .lmax and .lmax_m. Trading assets, which are not allowed for trading, will result in a termination from the challenge. Most assets will have institutional spreads and commission costs to ensure your trading is placed directly into the market and are extremely competitive.

In your first evaluation account your net P&L cannot hit or exceed the daily loss limit at any point during the trading day. If at any time your Net P&L does exceed this amount for your account, you should request a review from a risk manager. Traders will only be notified if they have breached this rule if they request a manual review from our risk manager or you wait until your account is reviewed at a time when you believe you have passed a stage. It is therefore important that all traders keep track of their risk limits and notify the team if you feel you may have breached a rule and require a challenge reset. This ensures traders successfully completing the challenge have an understanding of risk management and are disciplined.

In your second evaluation account, you will have to maintain a balance above the weekly loss limit. The maximum amount you may lose at any point in a calendar week (Monday through Friday) cannot be exceeded. Traders will only be notified if they have breached this rule if they request a manual review from our risk manager at the time if they suspect that the level may have been breached or you wait until your account is reviewed at a time when you believe you have passed a stage. It is therefore important that all traders keep track of their risk limits and notify the team if you feel you may have breached a rule and require a challenge reset. This ensures traders do not allow large losses to occur and have the ability to increase trading probability through performance analysis.

The maximum drawdown (DD) allowance in the account is the maximum change of equity value between the equity peak value and the trough equity value at any given time on a per trade rolling basis. It includes closed and open positions. Exceeding the Max Drawdown will disqualify the trader from the challenge. The risk percentage is a trailing level based on the percentage loss from highest value your account has achieved at any point since opened.

Traders can trade through all major economic releases. Do note during economic releases there can be extreme volatility and large price swings, therefore we encourage traders to reduce market exposure. This ensures trade can maximise their trading opportunity at a reduced risk amount.