Rating breakdown
Things we didn't like:
Expert Advisors (EAs) are not permittedNews trading restrictions apply without the News Trading Add-On
Relatively new firm with limited historical data
Why would you want an alternative to ALPHA TRADER?
While Alpha Trader offers competitive profit splits and a variety of account sizes, several aspects may prompt traders to consider alternatives. The firm operates exclusively on the TradeLocker platform, which might not cater to traders accustomed to more widely-used platforms like MetaTrader 4 or 5. Additionally, Alpha Trader enforces strict trading rules, including prohibitions on certain strategies such as grid trading, latency arbitrage, and high-frequency trading, potentially limiting the flexibility for some traders. The absence of a free trial and the requirement to purchase add-ons for features like news trading permissions could also be deterrents. Furthermore, the firm's registration in St. Vincent and the Grenadines, a jurisdiction known for less stringent regulatory oversight, may raise concerns about transparency and investor protection.
What other users do not like about Alpha Trader
Alpha Trader TrustPilot Customer Reviews, Feedback and Complaints
On Trustpilot, Alpha Trader has currently 960 number of reviews with a TrustScore (the overall measurement of reviewer satisfaction) of 4.40/5.00.
Main Complains according to the Users' Reviews
- Confusion around payout rules
- Low trust in anything besides 2-step
- Concerns about rule enforcement and transparency
What to look for in a ALPHA TRADER Alternative?
When seeking an alternative to Alpha Trader, traders should prioritize firms that offer greater platform flexibility, such as support for MetaTrader platforms, to accommodate various trading styles and tools. It's also beneficial to choose firms with more lenient trading rules, allowing for a broader range of strategies without the need for additional purchases or permissions. Transparent fee structures, including the absence of mandatory add-ons for basic functionalities, can enhance the trading experience. Moreover, selecting a firm registered in a jurisdiction with robust regulatory oversight can provide added assurance regarding the firm's operational integrity and the protection of trader interests.
Best ALPHA TRADER alternatives – Proprietary Trading Firms like (or better than) ALPHA TRADER
Rating breakdown
Things we liked:
Exclusive Discount Code (20% Off Exclusive Offer)Unlimited time for completion
Real Funding and Daily Payouts
Things we didn't like:
High challenge difficultyFunderPro Overview
Founded in Malta in late 2022 by a group of traders and investment managers, FunderPro was born out of the need to provide an opportunity for traders to be judged on their merit without pressure or unnecessary rules. FunderPro traders can trade in their own time, for as long as they want or need, there are no deadlines looming down nor petty restrictions to trip over.
Rating breakdown
Things we liked:
Unlimited evaluation free retries (Exclusive Refund Code 120%)No restrictions on trading style
Overnight and weekend holding allowed
A large variety of trading instruments
Things we didn't like:
Consistency rule for express accountsNo free trials available
Minimum 5 trading days
FundedNext Overview
In 2022, Next Ventures launched a new platform: FundedNext was live. The prop firm quickly made a name for itself by its generous capital allowance: a staggering $4 million was on the table for FundedNext traders who get to keep 90% of any profits made.
Rating breakdown
Things we liked:
Exclusive Discount Code (10% Off Exclusive Offer)No Trading Restrictions
MetaTrader4, MetaTrader5
Things we didn't like:
Minimum Trading DaysTrailing Drawdown
FXIFY Overview
FXIFY is a London-based proprietary trading firm that provides traders with access to up to $400,000 in capital, which can be scaled up to $4 million. Co-founded in 2023 by David Bhidey and Peter Brown, FXIFY offers flexible assessment programs, including One-Phase and Two-Phase options.