MT5
cTrader
TradeLocker
DXTrade
Is This Firm For You? (The Persona Match)
Four evaluation models, four different catches. Here is who Alpha actually suits.
Yes, join if:
You want to pick your risk model
1-step, 2-step, swing or 3-step, instead of a single fixed challenge.
You value fast payouts
requests are processed and paid within about two business days.
You trade the news
every plan lets you trade freely through releases during the evaluation.
You want mainstream platforms
MT5, cTrader, TradeLocker and DXtrade are all supported.
No, avoid if:
You expect the evaluation fee back
all sales are final; the fee is never refunded, pass or fail.
You hold Alpha Pro trades over the weekend once funded
that is a soft breach on qualified Pro accounts.
You want a static max-loss on a 1-step
Alpha One trails its drawdown to a high-water mark.
You scalp tight around news on a funded account
a 5-minute-either-side lockout applies once qualified.
The Propify Reality Check Audit
We don't just list features; we interpret the risks.
The "Hidden Rule" Detector
Rule #1 — Alpha One's "6% drawdown" trails
The reality: the max-loss line follows your high-water mark until the account hits its threshold, then locks at your starting balance, so early profits can tighten your room rather than loosen it.
Rule #2 — "Trade news freely" is an evaluation-only perk
The reality: once qualified, Pro, One, Three and Direct impose a 5-minute-either-side no-open/no-close window on targeted instruments; Swing must keep any trade opened within 2 minutes of a release open for more than 2 minutes.
Rule #3 — Weekend holding is not universal
The reality: allowed on One, Three and Swing, but on a qualified Alpha Pro account, holding over the weekend is a soft breach.
Rule #4 — On-demand payouts carry a consistency test
The reality: you need at least 2% gross profit to request, and a 40% "Best Day" rule caps how much a single day can contribute.
Payout Speed Test
Alpha states:
all performance-fee requests are processed and paid within 2 business days. Request Tuesday, paid by Thursday close of business.
Payout rails:
Rise, Wise, bank transfer (WIRE/ACH/SWIFT); crypto via Rise only.
Cadence:
bi-weekly or on-demand on Pro and Three; on-demand only on One and Swing.
The News Trading Scenario
Pro tip: high-impact events are drawn from Myfxbook and Forex Factory, and must appear on Alpha's published instrument table to count.
On evaluation (all plans):
trade freely through high-impact news.
On a qualified account (Pro / One / Three / Direct):
no open or close on targeted instruments within 5 minutes either side of a listed release.
On a qualified Alpha Swing account:
a trade opened within 2 minutes of a release must stay open longer than 2 minutes.
Editor's Verdict: The No-Hype Review
Alpha Capital Group’s pitch is optionality: four evaluation paths let you match the drawdown model to how you actually trade, rather than bending your style to one fixed rule-set. The trade-off is that each path hides its own catch — Alpha One’s trailing drawdown, Alpha Pro’s no-weekend-hold rule once funded, and a firm-wide no-refund policy that is stricter than the fee-back model at some competitors. Payouts are genuinely quick, at about two business days, and the platform choice is broad.
Biggest gotcha: the evaluation fee is never refunded, pass or fail, so treat it as a sunk cost rather than a deposit.
Best-fit path: Alpha Pro (2-step, static drawdown) for most traders; Alpha One only if you want single-step speed and can respect a trailing max-loss.
Rules Deconstructed
A detailed breakdown of the specific trading rules behind each evaluation model.
The Four Evaluation Models
Figures are per Alpha's own help centre and rules articles. Confirm the live grid before purchase.
Alpha One — 1 step
Target 6% / 10% / 12% by variant · max drawdown 4% / 6% / 8%, trailing to a high-water mark · daily loss 4%, measured on the higher of start balance or equity · 1 minimum day · FX leverage 1:30.
Alpha Pro — 2 step
Targets 6%+6% / 8%+5% / 10%+5% by variant · max drawdown 6% / 8% / 10%, static · daily loss 3-5%, balance-based · 3 minimum days per phase · FX leverage 1:100.
Alpha Swing — 2 step
Targets 10% then 5% · max drawdown 10%, static · daily loss 5%, balance-based · 3 minimum days per phase · FX leverage 1:30.
Alpha Three — 3 step
Targets 8%, then 4%, then 4% · max drawdown 6%, static · daily loss 4%, measured on the higher of end-of-day balance or equity · 3 minimum days per phase · FX leverage 1:50.
The "Hidden" Rules (most traders miss these)
Trailing vs static:
only Alpha One trails. Pro, Swing and Three use a static max-loss fixed at your starting balance.
Daily-loss basis differs:
Pro and Swing measure daily loss off balance; One and Three use the higher of the day's starting balance or equity.
Weekend holds:
allowed on One, Three and Swing in both evaluation and funded stages. Allowed on Pro in Phases 1 and 2 only, then a soft breach once qualified.
Overnight holds:
allowed on all plans, with swap fees applied. Swap-free is a paid add-on at roughly 10% on the fee.
Prohibited / risky practices
- No opening or closing of positions on targeted instruments inside the news window on qualified accounts.
- “Gambling”-style short speculative news scalps are flagged on Swing accounts.
- Maximum total allocation across accounts is $400,000. Check per-strategy allocation limits before running multiple accounts.
Payout Policy
Payout schedule & speed
Processing time:
requests are processed and paid within about 2 business days. Close all trades before requesting.
Cadence:
bi-weekly or on-demand on Pro and Three; on-demand only on One and Swing.
Minimum & consistency
Minimum to request:
at least 2% gross profit on the account.
"Best Day" rule:
a 40% cap limits how much a single day can contribute to the profit you withdraw.
Performance-fee bonus:
applied automatically on your 4th successful withdrawal.
Profit split, scaling & refunds
Max profit share:
up to 80% as standard, rising to up to 90% with the performance-fee-split add-on.
Scaling:
allocation scales to $400,000 total across accounts, with a single account up to $200,000.
Refunds:
none. All sales are final. The fee is not returned whether you pass or fail, and there is no fee-back on your first payout.
Pros & Cons
The Good
Four evaluation models
match the drawdown model to your trading style.
Fast payouts
about two business days, across multiple rails.
Free news trading during the evaluation
on every plan.
Broad platform support
MT5, cTrader, TradeLocker and DXtrade.
Raw spreads
no commission charged on trades.
The Bad
No refunds
the fee is a sunk cost, pass or fail.
Alpha One's trailing drawdown
catches newer traders out.
No weekend holds on qualified Alpha Pro accounts
a soft breach once funded.
News lockout window
applies on qualified accounts.
Swap-free trading is a paid add-on
roughly 10% on top of the fee.
Price & Value Analysis
Selected account: Alpha Pro $100K. Entry pricing starts from $50 on the smallest Alpha One tier, and accounts span $5K to $200K.
Live discounts (August 2026): ALPHA20 for 20% off all accounts, and 10KFOR40 for a $10K evaluation at $40.
The Math
True cost per $1,000:
fee ÷ (account size ÷ 1,000). A $10K account at the promo price of $40 works out at $4.00 per $1,000 of simulated buying power.
Verdict:
entry cost is competitive, especially with the standing 20% code, but the no-refund policy means the fee is pure cost. Factor it into expected value, not as a recoverable deposit.
Technical Specifications
| Feature | Data Value |
|---|---|
| Trading Platforms | MT5, cTrader, TradeLocker, DXtrade (Alpha Trader coming soon) |
| Asset Classes | Forex, metals (XAU/USD, XAG/USD), indices (NAS100, US30, JPN225) |
| Commission | Raw spread, no commission (swap-free optional add-on, roughly 10%) |
| Max Account Size | $200,000 per account, $400,000 maximum total allocation |
| Profit Split | Up to 80% standard, up to 90% with the add-on |
| Payout Methods | Rise, Wise, bank transfer (WIRE/ACH/SWIFT), crypto via Rise |
| Payout Speed | About 2 business days from request |
| FX Leverage | 1:30 (One and Swing), 1:100 (Pro), 1:50 (Three) |
| Broker Partner | ACG Markets |
Frequently Asked Questions (FAQ)
Q: How many evaluation models does Alpha Capital Group offer?
A: Four. Alpha One (1-step), Alpha Pro (2-step), Alpha Swing (2-step) and Alpha Three (3-step), each with its own targets and drawdown model.
Q: Is the evaluation fee refunded?
A: No. All sales are final. The fee is not returned whether you pass or fail, and there is no fee-back on your first payout.
Q: How fast are payouts?
A: Requests are processed and paid within about 2 business days, via Rise, Wise, bank transfer or crypto through Rise.
Q: What is the maximum profit split?
A: Up to 80% as standard, rising to up to 90% with the performance-fee-split add-on.
Q: Can I trade the news?
A: Freely during the evaluation on all plans. Once qualified, a 5-minute-either-side window applies on Pro, One, Three and Direct, and Swing has a 2-minute rule.
Q: What is the catch on Alpha One?
A: Its maximum drawdown trails to a high-water mark, so early profits can tighten your loss limit, unlike the static drawdown on Pro, Swing and Three.