Alpicap prop firm review – Worth a try?

Alpicap is a Swiss-based prop trading firm that offers funded accounts to its clients, with accounts ranging from $15,000 to $200,000.

The firm was launched in 2022 and is a relatively old.

However, before you sign up for an Alpicap account, it is important to go through all the features and offerings of the firm to assess whether it is a legitimate firm and if it is a good idea to try one of their funded trading challenges.

Pros and cons of Alpicap prop trading firm

Pros

• 12% maximum drawdown
• 1:100 available leverage
• 99 USD entry fee (low end)

Cons

• 80% profit share
• Not rated by the FPA
• 200,000 USD maximum funding
• No hotline and live chat
• 5 minimum trading days

Quick rating of Alpicap and its features

Safety of Alpicap – 1.5

Founded in 2022, Alpicap is a relatively new player on the global prop trading market. Typically, the ForexPeaceArmy reviews and rates prop firms and FX brokers that offer currency trading. However, Alpicap is not rated on the official FPA website, which could be a bit of a red flag for prospective clients.

The firm is rated on Trustpilot, with a 4.5 average rating based on 15 reviews, which is not a particularly large number as well.

Prop traders that are highly concerned with the topic of security are unlikely to feel at ease with the bare security ratings for the firm. Therefore, Alpicap gets a low safety score.

Alpicap funding and maximum capital allocation – 3

Funding levels across different prop challenges are very important for prop traders, as they are the most important components of a proprietary firm’s offerings.

When it comes to funding options and capital allocation levels, Alpicap offers a simple evaluation structure, with 5 funding tiers – $15,000, $25,000, $50,000, $100,000 and $200,000.

The fact that the maximum amount of funding offered by Alpicap is $200,000 may be problematic for some traders, as numerous competing prop firms offer $500,000 or even more than $1 million.

Alpicap assets – 3.5

The types of assets offered by a prop firm are paramount for traders to formulate successful strategies.

Alpicap’s instruments include: forex pairs, commodities, cryptocurrencies, indices and metals, which is a fairly comprehensive and variable selection of instruments for clients.

The terms and fees associated with each of the instruments may vary considerably, but the fees are generally in line with many competing prop trading firms.

The variety of instruments provided for trading by Alpicap is a welcome feature of the firm and gives traders some incentive to choose Alpicap over its competitors.

However, it must be noted that the overall number of instruments is not much higher than other prop firms, which places Alpicap in the middle of the pack when it comes to diversification of instruments.

Alpicap trading rules and limitations – 2.2

The trading rules enforced by prop firms are incredibly important and a constant feature of prop trading as a whole. Traders sign up at prop firms to gain access to large sums of money and boost their buying power and the prop firm receives account fees and a cut of the profits in exchange for the service.

When it comes to the limitations and requirements Alpicap places on its traders, they are the following:

• A 5% maximum daily loss limit
• An 80% profit target for all funded accounts
• A maximum total trailing drawdown of 12%
• 1:100 maximum trading leverage
• Minimum 5 trading day requirement
• 10% profit target for Phase 1
• 5% profit target for Phase 2

As we can see, the Alpicap challenges are divided into two phases. However, it is also worth noting that all other terms and requirements remain constant across all accounts – whether the trader is funded with $15,000 or $200,000.

The 12% trailing drawdown is also one of the highest on the market, which adds some points to Alpicap’s rules and limits.

Alpicap fees – 4

Account fees are an important part of prop trading and one of the main revenue streams for prop trading firms. In this sense, Alpicap is a relatively affordable proprietary firm and offers the following fees for its 5 funded account tiers:

• $99 for the $15,000 account
• $149 for the $25,000 account
• $299 for the $50,000 account
• $499 for the $100,000 account
• $977 for the $200,000 account

The account fees for phases 1 and 2 are identical at Alpicap, which is an advantage for traders, as a streamlined fee structure is generally always welcomed.

When compared to competing prop trading firms, Alpicap’s fees are slightly below average, which is another incentive for traders to choose the firm.

However, the lack of higher funded accounts is nonetheless an issue and low fees alone will not be enough to persuade traders that are aiming for $500,000 or higher in gross funding.

Alpicap trading platforms – 3.5

Due to the fact that Alpicap offers FX, commodities and indices for trading, it is likely that prospective clients may expect the firm to offer support for MetaTrader 4 and 5.

However, this is not the case, as the only trading platform available to Alpicap clients is Eightcap, which is another FX-focused trading platform.

Although, it must be noted that Eightcap does support MetaTrader 4, so there is a silver lining for Alpicap clients.

As for additional features, Eightcap covers all the standard features that are to be expected from a FX trading platform, such as analytical tools and customizable technical indicators, just to name a few.

Alpicap profit-sharing – 3

Profit-sharing agreements are incredibly important for prop traders, as they determine just how profitable a partnership with a proprietary trading firm can be.

Alpicap offers a profit share of 80% to its clients across all of the funded accounts available on the platform, which is lower than some competing firms, which typically offer a 90% profit share.

The relatively lower profit-sharing agreement offered by Alpicap docks some points for the firm.

In general, profit-sharing agreements tend to be slightly different across funded accounts, but Alpicap’s terms are constant, which also means that clients do not have the option to access improved terms that better suit their needs.

Education and trading tools at Alpicap – 4

For first-time traders with little experience, educational content and helpful materials are important in order to quickly learn the ropes and improve their chances of success.

While Alpicap itself does not offer any educational content, Eightcap, the trading platform offered by the firm, does include additional features, such as:

• Events and webinars
• Trade ideas and trading outlooks
• The Eightcap Labs educational platform

For this reason, Alpicap gets a decent score for educational content and trading tools, thanks to the features provided by Eightcap.

Alpicap customer support – 1.4

When it comes to the customer support suite of Alpicap, the firm is reachable to customers through email support and a customer inquiry form.

Live chat and hotline features seem to be missing from the official Alpicap website, which can be a downside for traders that would like to quickly contact a representative.

The working hours of the firm are from Monday to Friday, from 08:00 to 17:00 GMT.

Overall, the customer support services provided by Alpicap leave more to be desired, as a hotline and live chat are some of the basic features missing from the platform.

FAQ on Alpicap prop firm