Alphachain Review
3.3

 Alphachain Review

Alphachain is a forex prop firm with an attractive Two-step challenge. They offer up to $200,000 in funding to traders.

Alphachain is a forex prop firm with an attractive Two-step challenge. They offer up to $200,000 in funding to traders.

Pros
  • Scale Up to $1,280,000
  • Excellent Trading Courses
  • Suitable for Traders of All Experience Levels
  • Professional Trading Platforms
  • Good Trading Conditions
  • Vast Array of Financial Instruments
  • Instant Funding Accounts
  • Get Funded in 24 Hours
  • CPD Accredited Training
  • Top-Notch Support
  • Leverage Up to 1:100
Cons
  • Expensive Programs
  • Low-Profit Share (50%)
  • Restrictions on Weekend Holding and News Trading
  • Minimum 30 Trading Days
  • No Free Trials
  • Limited Reviews
  • Only MT4 Platform
  • Limited Reviews

What is Alphachain?

Alphachain is dedicated to empowering traders, regardless of their origins or backgrounds, to attain financial independence. Their primary requirements for clients are unwavering discipline and a commitment to long-term consistency. Alphachain offers the opportunity to manage account sizes of up to $1,280,000, with potential profit splits of up to 50%, allowing traders to achieve substantial earnings. They engage in trading a diverse range of financial instruments, including forex pairs, commodities, equity indices, and cryptocurrencies.

Established in 2017, Alphachain Academy Ltd., headquartered in London, focuses on cultivating aspiring traders into accomplished proprietary traders. These professionals then assume responsibility for managing the firm’s capital. Alphachain Academy has meticulously designed programs to identify, nurture, and nurture a new wave of talented proprietary traders from diverse backgrounds, all with a shared interest in trading either cryptocurrency or forex markets.

Initially, the firm commenced trader training on its cutting-edge London trading floor in 2019. However, by 2020, Alphachain had made a strategic shift to fully embrace remote learning, investing in a collaborative and immersive remote learning platform. This transition enabled them to attract the finest talent from across the globe.

Logo of Alphachain

Alphachain Funding Programs and Challenges: Rules and Requirements 

  • Becoming an Alpha-Funded Trader: When you apply to be an Alpha-Funded Trader with Alphachain, you gain access to a specialized trading account that is financially backed to test and implement your trading strategies. This opportunity allows you to explore the world of trading without the financial risk typically associated with it.
  • Live Squawk Service: Upon enrolling in one of Alphachain’s prestigious proprietary trading programs, you unlock exclusive access to their Live Squawk Service. This service is a valuable resource that delivers the latest news and market information directly to your device through a Twitter feed. This real-time information stream makes it incredibly convenient for traders to stay well-informed in one central location, enabling them to make well-informed decisions.
  • Daily Webinars: Alphachain is committed to enhancing your trading expertise. They offer daily webinars hosted by a team of experts, including the CEO, Head of Trading Academy, Performance Psychologist, and Senior Traders. These webinars provide a platform for continuous learning where you can gain insights, strategies, and market insights from seasoned professionals.
  • Profit Sharing: As a funded trader and a member of Alphachain’s trading community, you are entitled to receive 50% of all profits generated during your learning and trading journey. This profit-sharing arrangement serves as a significant incentive, aligning your success with the firm’s financial success.
  • No-Risk Trading: Alphachain’s funded trading accounts come with a unique no-risk trading policy. Unlike traditional brokers, they do not require an initial deposit from you. This means that you can embark on your trading journey without the burden of using your financial resources. It significantly reduces the financial risk and entry barriers associated with trading.
  • Doubling Your Capital: Alphachain further incentivizes remarkable performance by doubling the funded trading account size each time you reach a predefined profit target. This progressive approach to capital growth rewards traders who consistently excel, allowing them to leverage larger resources for their trading activities.

In summary, the Alphachain Funded Trader Account offers a comprehensive and unique opportunity to individuals who aspire to become traders. It combines financial backing, access to real-time market information, educational resources, profit-sharing, risk-free trading, and a growth-oriented incentive structure to facilitate your trading journey.

Alphachain Traders: Do They Use a Reliable Platform?

Alphachain doesn’t rely on common broker brands but instead partners with a top-tier liquidity provider known for offering the best simulated real market trading conditions. This provider includes LMAX, a well-regarded, FCA-regulated liquidity source.

The platform exclusively supports Meta Trader 4 as the trading interface, ensuring a familiar and user-friendly experience for traders.

Traders on Alphachain can access a diverse range of trading instruments, including:

  • FOREX: A wide selection of major currency pairs and crosses.
  • COMMODITIES: Precious metals and energy resources.
  • INDICES: A variety of global stock market indices.
  • CRYPTO: A comprehensive list of major cryptocurrencies.

Depending on the specific program chosen, traders can utilize leverage up to 100:1, allowing for a flexible and dynamic approach to trading various financial instruments.

In summary, Alphachain offers a robust trading environment through its partnership with a reputable liquidity provider and the use of the well-known Meta Trader 4 platform. Traders can access a wide array of trading instruments with leverage options, tailoring their trading strategies to their preferences and objectives.

Alphachain Fees: How Much Do They Charge? 

Our review of Alphachain found their cost structure to be impressively transparent and accommodating for various types of investors.

Here’s an in-depth breakdown of the costs associated with the firm:

Direct Funding Investors: Alphachain’s approach to direct funding investors is commendable. They do not impose any additional fees, apart from the initial joining cost. For instance, if you’re looking to secure a £15,000 funded account, the initial joining cost is £795. Similarly, a £20,000 funded account carries an initial joining cost of £999. This clarity in pricing allows investors to know exactly what they are committing to without any hidden or surprise charges.

  • Risk-Free Alpha Funded Traders Product: Alphachain offers the Alpha Funded Traders product, which is designed to be risk-free. This means that, as a participant, you won’t be held accountable for any trading losses incurred during the evaluation and learning process. Consequently, you can trade without the burden of anxiety associated with the fear of losing your capital. However, it’s important to note that you must maintain a balance above the weekly loss limit, as per the firm’s policies.
  • Costs for Novice Investors via Evaluation Programs: Novice investors entering through the evaluation programs are subject to a one-time course charge, which is typically detailed during the application process. Additionally, once the evaluation course is completed, users are obligated to pay a monthly membership subscription fee of £99. This fee structure is fairly transparent, and there are no hidden or unexpected charges.

The absence of additional fees, especially in comparison to other platforms like Topstep with exchange data subscription costs starting at $116 per month, can be seen as a distinct advantage. This cost transparency ensures that investors have a clear understanding of the financial commitments associated with Alphachain, making it easier for them to make informed decisions and manage their trading expenses effectively.

Alphachain Proof of Payment:

Alphachain, a proprietary trading firm, was officially incorporated on August 19, 2020. This significant milestone marks the beginning of its journey within the financial industry.

In addition to its establishment date, Alphachain has provided tangible evidence of its commitment to transparency and reliability. The two images or pictures displaying payment proof serve as an example of this. These payment proofs offer visible confirmation of Alphachain’s financial transactions and underscore the firm’s dedication to providing a trustworthy and credible trading environment.

This combination of a clear establishment date and the presentation of payment proof serves to build trust and confidence among current and potential traders. It reinforces the firm’s commitment to transparency and reliability, essential qualities in the world of proprietary trading.

Alphachain Customer Support: 

  • Service Hours: Alphachain’s customer support services are available during the workweek, from Monday through Friday, with operating hours spanning from 8 a.m. to 5 p.m. GMT. This time frame ensures that traders can reach out for assistance during standard business hours.
  • Contact Information: The company provides multiple contact channels, allowing traders to choose the option that best suits their preferences. Notable contact information includes:
  • Email Address (info@alphachain.co.uk): Traders can send inquiries, feedback, or requests to this email address, facilitating written communication.
  • Telephone Number (020 7097 3984): Alphachain offers a direct phone line for immediate voice communication, ensuring traders can speak directly with support representatives for prompt assistance.
  • HQ Office Address: The inclusion of the company’s headquarters office address provides a physical point of contact for traders who may prefer or require in-person communication.
  • Social Media Presence: Alphachain is actively engaged on various social media platforms, including LinkedIn, Twitter, and Facebook. This dynamic online presence allows traders to follow the firm’s updates, access valuable information, and potentially interact with the company through these popular social channels. The use of social media is particularly beneficial for staying up to date with industry news and receiving timely updates from Alphachain.

In conclusion, Alphachain’s approach to customer service and engagement is comprehensive and accommodating. The availability of email, telephone, and office address contact options ensures that traders can reach out through their preferred means of communication. Furthermore, the company’s active presence on social media platforms fosters interaction and timely access to relevant information, catering to a diverse range of customer preferences and needs.

What makes Alphachain unique?

When it comes to Alphachain’s funding offerings, they share many similarities with other firms in the industry. However, two distinct aspects set this proprietary trading company apart from its competitors:

  1. Instant Funding Option: Alphachain provides an instant funding model in addition to the typical “pass a challenge for funding” model that most businesses use. While this option comes at a higher cost than the evaluation model, it provides traders with the unique opportunity to acquire a $20,000 account on the same day and retain 50% of the profits. While Alphachain isn’t the only company offering instant funding, it can be a convenient choice for profitable traders who prefer to skip the challenge process.
  2. Education: The landscape of Forex trading education has become cluttered with subpar courses, dubious mentors, and low-quality content in recent years. Consequently, skepticism towards trading education is common. 

However, Alphachain stands out by offering a CPD-accredited trading program. Graduates of this program have gone on to work for prestigious institutions like Deutsch Bank and even become analysts at Deloitte.

Notably, the proprietary trading arm of Alphachain emerged as a result of the educational business’s success, as students began receiving funding from the company. This funding opportunity has now been extended to traders worldwide.

Alphachain Reviews: What Do Their Customers Say?

Trustpilot:

Alphachain, a verified company on Trustpilot, has an outstanding rating of 4.7 out of 5 stars based on 152 customer reviews. This is a testament to the company’s commitment to providing excellent products and services to its customers.

Alphachain reviews on Trustpilot

Google Reviews:

Alphachain has a 4.1-star rating on Google with 15 customer reviews. Some customers complain about money deductions and refunds, while others have no issues.

Alphachain reviews on Google

Customer Responses on Various Rating Websites:

#1. According to Seb, effective training should revolve around essential success components, which include creating a trading plan, honing skills with professional tools, prioritizing risk management, participating in webinars, engaging with a trading community, and maintaining regular communication with a dedicated mentor.

Alphachain reviews

#2. Mr. Panesar is concerned about the company and notes potential misleading practices. He reports that AlphaChain has faced scrutiny for trying to influence Trustpilot reviews. While he initially had a positive impression of the company, his opinion shifted over time. He expected to learn proprietary trading methods, but after trading with a funded account for over a month, he didn’t receive such instruction.

He acknowledges the mentorship fee but feels it didn’t provide unique industry insights not available in standard trading books. Mr. Panesar suggests checking staff’s LinkedIn profiles for institutional trading experience when evaluating prop trading firms. This, he believes, can indicate the quality of service and training.

In summary, he advises thorough research and comparisons before choosing a prop trading firm.

Alphachain complaint on Trustpilot

#3. Shiba Boys mentioned that the outreach from your side left them with concerns. They noted the comments regarding the cost and the ability to seize profits if rules aren’t adhered to. They found it a bit questionable, especially in the context of MT4 and MT5. They also shared that someone seemed intent on pushing their account dangerously close to liquidation, leaving them uneasy. All in all, they wished you the best in your endeavors.

Alphachain complaints online

#4. Peter believes that the training is excessively costly, considering that much of the content can be found for free on platforms like Babypips and YouTube, or in the recommended books, such as “Technical Analysis in Financial Markets” by Murphy.

In his view, the course did not provide the proprietary methods as promised; instead, it mainly covered standard material readily available in free online courses.

He also found the extensive documentation requirements burdensome, diverting a significant amount of time from actual trading and learning.

Even though he received a funded account upon completion, he only considers the course to be a worthwhile investment given the price.

Alphachain reviews Trustpilot

#5. Farouk Tamer, a seasoned trader with nearly five years of experience, confidently affirms that the academy is an ideal resource for individuals who may still be grappling with certain trading concepts. He eagerly anticipates the opportunity to collaborate with AlphaChain as a newly funded trader.

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Wrapping it up:

Alphachain is dedicated to enabling traders from diverse backgrounds to achieve financial independence. With an emphasis on education, support, and funding, it offers a unique blend of opportunities and challenges. It’s essential for potential traders to carefully consider their goals and preferences before deciding whether Alphachain aligns with their trading aspirations.

Customer reviews offer varying perspectives, emphasizing the importance of thorough research and the evaluation of personal suitability. While Alphachain showcases notable strengths, including education and support, traders need to assess whether these align with their specific needs and expectations. Ultimately, your success with Alphachain will depend on your dedication, discipline, and adaptability within the platform’s parameters.

Account size up to:
$1,000,000
Profit Split Up to 50%
*Choose your account type and start trading

3.0
Fees
4.0
Trading Platforms
3.0
Deposit and Withdrawal
3.0
Customer Support
3.3 Overall Rating

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 Alphachain Review
3.3/5
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