Alpha Capital Review 2026: Five Products, One $400K Ceiling

Verdict

Alpha Capital is the pick for a trader who wants to choose their own drawdown geometry — five plans, four different max-loss caps, one 80% split. The policy-checked UK comparison separates its current country policy and 5 mapped products from assumptions based on a .uk domain, London address, or company registration.

Quick facts

Alpha Capital at a glance

Founded	2023 (3 years operating)
Headquarters	London, United Kingdom
Evaluation models	1-phase, 2-phase, 3-phase and funded-at-purchase (5 products)
Max allocation	$400,000, shared across all five plans
Profit split	80% on evaluations, 90% on Alpha Direct
Drawdown type	Per product — 6% trailing (One), 5% trailing (Direct), 6–10% static (Pro / Three / Swing)
Consistency rule	40% best-day on evaluations; 15% on Alpha Direct
Payouts	Bi-weekly on Alpha Pro and Alpha Three (first request at day 14); on-demand elsewhere, with Alpha One's bi-weekly eligibility unresolved
Fee refund	None — all sales final
Platforms	MT5, cTrader
Instruments	Forex, Indices, Crypto, Commodities

Challenges available

Alpha Capital sells 5 distinct plans, and they do not share a rule surface: phase counts run 0 to 3, max drawdown runs 5% to 10%, and the profit split is 80% on 4 of them and 90% on the fifth. The table below is one row per product and account size. A dash means the firm publishes no figure for that cell — those are gaps in Alpha Capital's own disclosure, not omissions here.

Alpha Capital products, prices and rule parameters

Product	Phases	Account size	Price (USD)	Profit target	Daily DD	Max DD	Split
Alpha One	1	$5,000	$50	10%	4%	6% trailing	80%
Alpha One	1	$10,000	$99	10%	4%	6% trailing	80%
Alpha One	1	$25,000	$197	10%	4%	6% trailing	80%
Alpha One	1	$50,000	$297	10%	4%	6% trailing	80%
Alpha One	1	$100,000	$497	10%	4%	6% trailing	80%
Alpha One	1	$200,000	$997	10%	4%	6% trailing	80%
Alpha Pro (6%)	2	$5,000	$40	6% + 6%	3%	6% static	80%
Alpha Pro (6%)	2	$10,000	$67	6% + 6%	3%	6% static	80%
Alpha Pro (6%)	2	$25,000	$137	6% + 6%	3%	6% static	80%
Alpha Pro (6%)	2	$50,000	$237	6% + 6%	3%	6% static	80%
Alpha Pro (6%)	2	$100,000	$427	6% + 6%	3%	6% static	80%
Alpha Pro (6%)	2	$200,000	$847	6% + 6%	3%	6% static	80%
Alpha Swing	2	$5,000	—	10% + 5%	5%	10% static	80%
Alpha Swing	2	$10,000	—	10% + 5%	5%	10% static	80%
Alpha Swing	2	$25,000	—	10% + 5%	5%	10% static	80%
Alpha Swing	2	$50,000	—	10% + 5%	5%	10% static	80%
Alpha Swing	2	$100,000	$577	10% + 5%	5%	10% static	80%
Alpha Swing	2	$200,000	—	10% + 5%	5%	10% static	80%
Alpha Three	3	$10,000	$67	8% + 4% + 4%	4%	6% static	80%
Alpha Three	3	$25,000	$157	8% + 4% + 4%	4%	6% static	80%
Alpha Three	3	$50,000	$247	8% + 4% + 4%	4%	6% static	80%
Alpha Three	3	$100,000	$397	8% + 4% + 4%	4%	6% static	80%
Alpha Three	3	$200,000	$697	8% + 4% + 4%	4%	6% static	80%
Alpha Direct	0	$2,500	—	None (Qualified at purchase)	3%	5% trailing	90%
Alpha Direct	0	$5,000	—	None (Qualified at purchase)	3%	5% trailing	90%
Alpha Direct	0	$10,000	—	None (Qualified at purchase)	3%	5% trailing	90%
Alpha Direct	0	$25,000	—	None (Qualified at purchase)	3%	5% trailing	90%
Alpha Direct	0	$50,000	—	None (Qualified at purchase)	3%	5% trailing	90%
Alpha Direct	0	$100,000	—	None (Qualified at purchase)	3%	5% trailing	90%
Alpha Direct	0	$200,000	—	None (Qualified at purchase)	3%	5% trailing	90%

Pricing and rules are current as of 2026-08-11, captured from Alpha Capital's own pages. For the current list see the live Alpha Capital site — and read the pricing caveat in the True-Cost section below before you treat any figure here as a checkout price.

Three variants sit outside the table because the firm publishes rules for them but no fees. Alpha One ships in 6%, 10% and 12% forms: the 6% carries a 6% target with a 4% trailing max drawdown and a 3% daily cap, the 12% carries a 12% target with an 8% trailing cap and a 5% daily cap, and the firm states the 12% variant is capped at $100,000 while the others reach $200,000. The rules in the table above are the 10% variant. Alpha Pro also sells 8% and 10% variants — the 8% runs an 8% then 5% target against an 8% static drawdown and 4% daily cap; the 10% runs 10% then 5% against a 10% static drawdown and 5% daily cap. Neither has a published price table.

The evaluation fee does not come back. Alpha Capital's refund-policy page states plainly: "All sales are final and no refund will be issued." That is a departure from the refundable-on-first-payout mechanic most CFD firms advertise, and it changes the arithmetic in the next two sections — the fee is a sunk cost, not a deposit.

Instant-funding context. The phase-0 product comparison includes Alpha Direct as 1 current no-evaluation path while keeping all 7 unpublished entry fees visibly unverified instead of manufacturing a cheapest price.

How the rules actually work

Drawdown type is the real product differentiator here, and it is not uniform. Alpha One measures a 6% max drawdown as trailing against the high-water mark: on a $100,000 account your floor starts at $94,000, but if equity peaks at $108,000 the floor ratchets up to $101,520 and never comes back down. Alpha Pro (6%), Alpha Three and Alpha Swing use static caps instead — on a $100,000 Alpha Pro the $94,000 floor stays at $94,000 no matter how far into profit you run, and on Alpha Swing the floor is $90,000. Alpha Direct is trailing again at 5%, so a $100,000 Direct account gives you $5,000 of room that follows your equity peak upward.

Daily drawdown ranges from 3% to 5%. Alpha One and Alpha Three measure the 4% daily cap over the higher of the highest end-of-day balance or equity; Alpha Swing's 5% cap is balance-based; Alpha Pro (6%) is the tightest at 3%, which on a $50,000 account is $1,500 of intraday loss before the account breaches.

The 40% best-day consistency rule applies to every evaluation product. The firm divides your best day's net profit by total net profit on the account. On a $100,000 Alpha Pro (6%) the Phase 1 target is $6,000, so a single day contributing more than $2,400 of that total puts you outside the ratio and forces you to keep trading to dilute it. Alpha Direct tightens the same rule to 15%: on $10,000 of net profit, no single day may account for more than $1,500.

News trading is allowed with a timing window, not banned. Alpha One, Alpha Pro, Alpha Three and Alpha Direct impose a 5-minute window on both sides of a high-impact event. Alpha Swing works differently: a trade opened within 2 minutes before or up to 2 minutes after a release — a 4-minute window — must stay open longer than 2 minutes to count as valid.

Weekend and overnight holding are separate rules. Alpha One, Alpha Swing and Alpha Three allow weekend holding at every stage including the Qualified account, so those 3 paths enter the product-level swing-trading comparison. Alpha Pro allows weekends during Phase 1 and Phase 2 but not on the Qualified Analyst account; it still allows weekday overnight holds. Alpha One and Alpha Three also allow overnight holds, while Alpha Swing is explicitly built for longer-term positions. Alpha Direct bans weekend holding, and its current plan page publishes no separate overnight answer, so that field remains unverified rather than assumed.

Expert Advisors are restricted, not permitted. The help centre allows EAs on MT5 "strictly limited to risk management and trade assistance tools," subject to pre-approval, and states that "automated EAs that execute trades independently, without human oversight, are strictly prohibited and will not be approved under any circumstances." On Alpha Direct, EAs are disabled outright and cannot be used. Copy trading is similarly narrow: you may mirror your own external account as master if you prove ownership, but "engaging in copy trading from other groups, or duplicating trades from fellow traders, is strictly prohibited," and the feature is unavailable on cTrader, DX Trade and TradeLocker.

Minimum trading days are 1 on Alpha One and 3 per phase on Alpha Pro, Alpha Swing and Alpha Three. No minimum is published for Alpha Direct. No maximum trading days appear on any page for any of the five plans, so there is no 30-day evaluation clock — but a separate inactivity rule deactivates any account that goes 30 consecutive days without a trade.

True cost to break even

Break-even profit is the fee divided by your profit split — the trading gain you must produce before your share of it repays what you spent. The R-multiple sets that figure against the dollar value of your maximum drawdown. R below 1 means the firm lets you lose more getting there than you need to make; R at or above 1 means you must out-earn your entire loss allowance just to get back to zero. Every figure below is computeTrueCost() output from Alpha Capital's published prices — see the true cost of prop firm challenges for the method.

Read this before the tables. No price below was read off a live checkout. Alpha Capital's checkout is JavaScript-gated and renders "Total due: One-time payment $0.00" to a plain reader, and its /product page lists plan names with the sentence "Evaluation fees start from $50 on the smallest Alpha One tier" and no table. Every fee here comes from Alpha Capital's own cost article, which self-reports "Page Last Updated: June 1, 2026" — roughly 10 weeks old at the 2026-08-11 capture — and which itself tells readers to confirm the price on the product page. Two further gaps survive: the firm's own trader-verdict page prices Alpha Pro 25K at $197 while its cost page prices Alpha Pro 25K 6% at $137, a conflict we did not resolve and did not average, so only the labelled 6% figure is recorded; and the Alpha One price rows carry no variant suffix, so it is not knowable whether $497 buys the 6%, 10% or 12% version of that plan.

Alpha One true-cost projection

Tier	Fee	Break-even profit (80% split)	R-multiple vs 6% trailing max DD	Days @ 1%/day (4% daily cap)
$5K	$50	$63	0.21	2
$10K	$99	$124	0.21	2
$25K	$197	$246	0.16	1
$50K	$297	$371	0.12	1
$100K	$497	$621	0.10	1
$200K	$997	$1,246	0.10	1

Alpha Pro (6%) true-cost projection

Tier	Fee	Break-even profit (80% split)	R-multiple vs 6% max DD	Days @ 1%/day (3% daily cap)
$5K	$40	$50	0.17	1
$10K	$67	$84	0.14	1
$25K	$137	$171	0.11	1
$50K	$237	$296	0.10	1
$100K	$427	$534	0.09	1
$200K	$847	$1,059	0.09	1

Alpha Pro (6%) undercuts Alpha One at all six shared account sizes — $40 against $50 at $5K, $137 against $197 at $25K, $427 against $497 at $100K, $847 against $997 at $200K — and it does so while replacing a trailing cap with a static one. At $25K that is R = 0.11 versus R = 0.16, so the 2-phase route is roughly a third cheaper in risk-adjusted terms at the same drawdown percentage. What the extra $60 at that tier buys on Alpha One is a single phase, one minimum trading day instead of three per phase, and a 10% target you clear once rather than 6% cleared twice.

The daily caps push in the other direction. Alpha Pro's 3% daily limit is the tightest the firm sells, against 4% on Alpha One — on a $100,000 account, $3,000 versus $4,000 of intraday room. A trader whose losing days cluster near 3% will breach Alpha Pro on a day that Alpha One survives, and the fee is gone either way because no plan is refundable.

Alpha Three true-cost projection

Tier	Fee	Break-even profit (80% split)	R-multiple vs 6% max DD	Days @ 1%/day (4% daily cap)
$10K	$67	$84	0.14	1
$25K	$157	$196	0.13	1
$50K	$247	$309	0.10	1
$100K	$397	$496	0.08	1
$200K	$697	$871	0.07	1

Alpha Swing true-cost projection

Tier	Fee	Break-even profit (80% split)	R-multiple vs 10% max DD	Days @ 1%/day (5% daily cap)
$100K	$577	$721	0.07	1

Alpha Three is the cheapest published route to every account size it offers above $10,000. At $200,000 it costs $697 against $847 on Alpha Pro and $997 on Alpha One, and its R of 0.07 ties the best number Alpha Capital publishes anywhere. The price of that discount is phase count: 8% then 4% then 4% is 16% of cumulative profit target against Alpha Pro's 12% and Alpha One's 10%, with 3 minimum trading days in each of three phases. You are paying less money for more elapsed evaluation.

Alpha Swing's single published tier — $577 at $100,000 — is the most expensive $100K entry on the menu, $180 more than Alpha Three. Its R of 0.07 is joint-best not because the fee is low but because the denominator is large: a 10% static cap is $10,000 of permitted loss on a $100,000 account, the widest allowance Alpha Capital sells. That is the honest reading of R here. Swing traders are not buying a cheaper attempt; they are buying room to sit through overnight and weekend excursions, plus the only news rule on the menu measured in a 2-minute minimum hold rather than a 5-minute exclusion window.

Across all 18 priced tiers, R runs from 0.07 to 0.21 — every one comfortably under 1. The worst case is the $5K and $10K Alpha One, where $63 and $124 of break-even profit sit against $300 and $600 of permitted drawdown; the risk math still favours the trader by roughly five to one. For contrast, City Traders Imperium's Direct Funding sits at R = 1.19, where break-even exceeds the entire loss allowance. Nothing Alpha Capital sells is priced like that.

Alpha Direct gets no table because Alpha Capital publishes no price for it. All seven sizes from $2,500 to $200,000 are listed in the help centre with rules attached — 90% split, 5% trailing drawdown, 3% daily cap, 15% consistency — and no fee anywhere on the official domain. The same is true of five of the six Alpha Swing tiers, both the Alpha Pro 8% and 10% variants, and the Alpha Three $5,000 tier. We left those null rather than interpolating a curve from neighbouring products.

One structural consequence deserves stating outright: because "all sales are final," a failed attempt at any tier is a total loss of the fee, and the R-multiples above understate lifetime cost for anyone who needs two attempts. Two failed $427 Alpha Pro $100K runs plus a successful third is $1,281 of sunk fee against a $534 break-even on the account that finally passes.

Payout speed in practice

Alpha Capital runs two payout schemes. Bi-weekly works on a fixed cycle: "requests are made every 14 days, starting 14 days after your initial trade," so the earliest possible first payout is day 14. The help centre and 2026 rules article state bi-weekly is available on Alpha Pro and Alpha Three accounts — and this is an unresolved conflict, because the firm's homepage advertises "Bi-Weekly or On-Demand" with Alpha One selected. We have recorded the narrower rules/help position; confirm your plan's cycle in the dashboard before you plan around a 14-day date.

On-demand is the default on Alpha One, Alpha Swing and Alpha Direct, and it has no published waiting period at all — instead it has a size floor. Alpha Pro, Swing, One, Three and Direct accounts require a minimum of 2% of gross profits on the account balance before a request is valid. Alpha Direct adds a further gate: a 3% profit buffer must be reached first, after which the minimum request drops to 1% of gross profits. On a $100,000 Alpha Direct account that means clearing $3,000 of profit before your first request is even eligible.

Split-wise, evaluation accounts pay up to 80% of simulated profits and Alpha Direct pays 90% — the firm's own worked example is a trader receiving $900 under the Alpha Direct split. Trustpilot displayed 4.7/5 from 21,119 reviews when captured on 27 July 2026, but that aggregate is not proof that a specific withdrawal will settle. We still have no independently verified Indian payout receipt, so treat the 2-business-day processing claim as the firm's published policy rather than verified settlement behaviour.

Pros

• Four different max-drawdown geometries across the evaluation range — 6% trailing (Alpha One), 6% static (Alpha Pro 6%, Alpha Three), 10% static (Alpha Swing) — so you can match the cap to your strategy instead of the reverse.
• Alpha Pro (6%) is cheaper than Alpha One at every shared size, from $40 vs $50 at $5K to $847 vs $997 at $200K, while replacing the trailing cap with a static one.
• Alpha Three is the cheapest published path to size: $397 at $100K and $697 at $200K, both below the equivalent Alpha Pro and Alpha One fees, at R = 0.08 and R = 0.07.
• No maximum trading days on any of the five plans — there is no 30-day evaluation clock to trade against.
• Alpha One needs only 1 minimum trading day and a single 10% target, the shortest published route to a Qualified account.
• Alpha Direct pays 90%, 10 points above the 80% on every evaluation product, and is Qualified from purchase with no target to clear.
• Weekend holding is allowed at every stage including the Qualified account on Alpha One, Alpha Swing and Alpha Three.

Cons

• No refund, ever. "All sales are final and no refund will be issued" — there is no refundable-on-first-payout mechanic here, so a failed $497 attempt is $497 gone.
• Maximum allocation is $400,000 and it is shared across all five plans, so stacking products does not raise the ceiling.
• The 40% best-day consistency rule binds every evaluation: on a $100K Alpha Pro (6%), no single day may contribute more than $2,400 of the $6,000 Phase 1 target.
• Fully automated EAs are prohibited — MT5 EAs are limited to risk management and trade assistance, need pre-approval, and are disabled entirely on Alpha Direct.
• Copy trading from other groups or fellow traders is prohibited, own-account mirroring needs proof of ownership, and the feature is unavailable on cTrader, DX Trade and TradeLocker.
• Prices are not published at checkout. Every fee in this review traces to a firm blog post last updated June 1, 2026 — not a live cart — and that page itself tells readers to confirm on the product page.
• The firm's own pages disagree on Alpha Pro 25K: $197 on the trader-verdict page, $137 on the cost page. Only the labelled 6% variant figure is recorded here.
• Alpha One prices carry no variant label although the plan ships in 6%, 10% and 12% forms with different targets and drawdown caps — you cannot tell which variant $497 buys.
• Twelve captured product-tier combinations carry no published price at all: all 7 Alpha Direct sizes and 5 of 6 Alpha Swing sizes. The unrepresented Alpha Pro 8%/10% variants and Alpha Three $5,000 tier also lack an accessible published price.
• Alpha Pro forbids weekend holds on the Qualified Analyst account even though it permits them in Phase 1 and Phase 2 — the rule tightens after you pay and pass.
• Evaluation plans stop at an 80% split, 10 percentage points below Alpha Direct's 90% split, while Alpha Direct publishes no fee for any of its 7 sizes.
• A 30-day inactivity rule deactivates the account if no trade is placed for 30 consecutive days.

Who should pick Alpha Capital

A trader who already knows which drawdown mechanic suits them and wants to buy exactly that. If you scale into winners and hate a floor that ratchets behind you, Alpha Pro (6%) at $137 for $25K or $427 for $100K gives you a static 6% cap for less than Alpha One charges for a trailing one. If you hold positions over weekends and through news, Alpha Swing's 10% static cap and 5% daily limit are the widest the firm sells, and weekend holds survive into the Qualified account. If you are cost-optimising for a $200,000 sim account and do not mind grinding three phases and 16% of cumulative target, Alpha Three at $697 is the cheapest published entry on the menu at R = 0.07.

Who should avoid Alpha Capital

Anyone who runs a fully automated system should avoid Alpha Capital: EAs that trade without human oversight "will not be approved under any circumstances," and they are disabled outright on Alpha Direct. Anyone who needs a refundable fee should look elsewhere too because Alpha Capital's all-sales-final rule makes every failed attempt a sunk cost. Evaluation traders requiring more than an 80% split, or traders who need more than $400,000 of total allocation, also fall outside the published offer; the only 90% plan is Alpha Direct, whose fee remains undisclosed. Finally, no fee was readable in checkout on 2026-08-11 — the 18 captured prices still come from the firm's roughly 10-week-old cost article.

FAQ

What is the cheapest Alpha Capital evaluation?

$40, for the $5,000 Alpha Pro 6% account, per the firm's cost page. The $5,000 Alpha One is $50 and the cheapest Alpha Three is $67 at $10,000 — Alpha Three publishes no $5,000 tier.

Is the Alpha Capital challenge fee refundable?

No. The firm's refund-policy page states "All sales are final and no refund will be issued," and every account size in our data is flagged non-refundable. Budget the fee as a sunk cost, not a deposit returned with your first payout.

What is Alpha Capital's maximum allocation?

$400,000, and the firm states it is shared across all five plans rather than granted per plan. Any older figure quoting a $2,000,000 ceiling does not match what Alpha Capital published as of 2026-08-11.

Does Alpha Capital offer a 1-step or instant-funding product?

Yes, both. Alpha One is a single-phase evaluation with a 10% target and 1 minimum trading day; Alpha Direct is Qualified from purchase with no profit target, a 90% split, a 5% trailing drawdown and a 15% consistency rule. Alpha Direct's price is not published anywhere on the official site.

Which Alpha Capital plan gives the most drawdown room?

Alpha Swing — a 10% static max drawdown and a 5% balance-based daily cap, which on a $100,000 account is $10,000 of total room and $5,000 intraday. The tightest is Alpha Pro (6%) at 6% static with a 3% daily cap.

Can I run an Expert Advisor on Alpha Capital?

Only within limits. EAs are permitted on MT5 "strictly limited to risk management and trade assistance tools" and require pre-approval; fully automated EAs are prohibited. On Alpha Direct, EAs are disabled and cannot be used at all.

How reliable are the prices in this review?

They are the firm's own published figures, but not checkout-verified. Alpha Capital's cart renders no price without JavaScript, so all 18 priced tiers here come from its cost article dated June 1, 2026. Two figures remain contested: Alpha Pro 25K appears as both $197 and $137 on different official pages, and the Alpha One rows do not say which of the 6%/10%/12% variants they price. Check the number at Alpha Capital before you pay.