When selecting a proprietary trading firm, traders must evaluate the rules, funding programs, profit-sharing models, trading conditions, and costs associated with each firm. This detailed comparison between Audacity Capital and FXIFY highlights their key features, red flags, and why FXIFY stands out as the better choice for traders seeking a flexible, cost-effective, and transparent solution.
1. Funding Programs and Evaluation Process
Audacity Capital
- Funded Trader Program:
- Traders start with $15,000 in capital, which can scale up to $480,000 as they meet profit targets.
- Traders must achieve a 10% profit target at each stage without breaching risk parameters to scale accounts.
- A 50/50 profit split is applied to all earnings.
- Ability Challenge:
- A two-step evaluation process:
- Phase 1: Requires a 10% profit target with a maximum daily drawdown of 7.5%.
- Phase 2: Requires a 5% profit target with a daily drawdown limit of 5%.
- Evaluation requires a minimum of 4 trading days for each phase.
- A £149 fee is charged for the evaluation, refundable only upon successful completion.
- A two-step evaluation process:
FXIFY
- Evaluation Programs:
- One-Phase Assessment:
- Traders must achieve a 10% profit target with a 6% trailing drawdown limit.
- No minimum trading days are required, allowing traders to complete the challenge at their own pace.
- Two-Phase Assessment:
- Phase 1: Requires a 10% profit target with a 5% drawdown limit.
- Phase 2: Requires a 5% profit target with a similar drawdown limit.
- Offers competitive flexibility in risk management.
- Three-Phase Assessment:
- Designed for beginners, with lower profit targets and smaller fees.
- Traders can access account sizes ranging from $10,000 to $400,000, with scaling options for consistent performance.
- One-Phase Assessment:
Advantage: FXIFY’s diverse range of evaluation programs caters to traders of all experience levels and offers greater flexibility and variety than Audacity Capital.
2. Profit Sharing and Payouts
Audacity Capital
- Profit Split:
- Fixed at 50/50, which is lower than the industry average.
- Payout Frequency:
- Traders must double their account balance before they can withdraw profits.
- During the withdrawal process, trading is paused, disrupting momentum and continuity.
FXIFY
- Profit Split:
- Starts at 75% and increases to 90% for consistent performers.
- Payout Frequency:
- Allows bi-weekly payouts, with the first payout available on demand.
- No restrictions on when traders can withdraw profits, ensuring seamless trading.
Advantage: FXIFY offers higher profit splits and more flexible payout options, allowing traders to retain more earnings and access their funds with fewer restrictions.
3. Trading Conditions and Flexibility
Audacity Capital
- Trading Restrictions:
- Prohibits trading during major news events, such as Non-Farm Payrolls (NFP) and central bank announcements.
- Limits traders to forex trading until they reach higher funding levels.
- Risk Management:
- Maximum Daily Loss: Limited to 5% of the account balance.
- Overall Drawdown: Capped at 10%, including floating losses.
FXIFY
- Trading Flexibility:
- Allows news trading, overnight holding, and weekend holding, catering to a wider range of trading strategies.
- Supports the use of Expert Advisors (EAs) and automated strategies.
- Risk Management:
- Offers varying drawdown limits depending on the program, with options for both trailing and static drawdowns.
- Provides more breathing room for traders, especially during volatile market conditions.
Advantage: FXIFY’s more accommodating trading conditions support diverse strategies and allow traders to adapt to market opportunities without unnecessary restrictions.
4. Trading Platforms and Instruments
Audacity Capital
- Platform:
- Relies on MetaTrader 4 (MT4), a widely used but older platform.
- Instruments:
- Focuses primarily on forex trading, with access to indices, commodities, and other instruments granted only after significant scaling.
FXIFY
- Platforms:
- Offers access to MetaTrader 4 (MT4), MetaTrader 5 (MT5), and DXTrade, catering to traders who prefer modern and customizable trading interfaces.
- Instruments:
- Provides access to a diverse range of instruments, including forex, stocks, commodities, indices, and cryptocurrencies, from the outset.
Advantage: FXIFY’s modern platform options and broader range of instruments allow traders to diversify their strategies and capitalize on various market opportunities.
5. Fees and Costs
Audacity Capital
- Joining Fee: Requires a £199 non-refundable joining fee for the Funded Trader Program.
- Monthly Fee: Charges a £99 recurring fee for continued access to the Funded Trader Program.
- Evaluation Fee: Charges a £149 fee for the Ability Challenge, refundable only upon successful completion.
FXIFY
- Evaluation Fees:
- Fees vary by program and account size, starting as low as $59 for the Three-Phase Assessment.
- Evaluation fees are refundable upon successful completion of the program, reducing upfront financial risks.
- No Recurring Fees: FXIFY does not charge joining or monthly fees, making it more cost-effective.
Advantage: FXIFY’s lower, refundable fees and absence of monthly charges make it a more budget-friendly choice.
6. Reputation and Transparency
Audacity Capital
- Reputation:
- Mixed reviews, with complaints about high fees, restrictive rules, and delayed payouts.
- Transparency:
- Some traders report a lack of clarity regarding scaling plans and trading restrictions.
FXIFY
- Reputation:
- Positive feedback for its flexibility, fast payouts, and diverse evaluation programs.
- Transparency:
- Clearly communicates its rules, risk parameters, and scaling opportunities, fostering trust among traders.
Advantage: FXIFY’s strong reputation and commitment to transparency make it a more reliable choice for traders.
Conclusion
Both Audacity Capital and FXIFY offer opportunities for traders to access significant trading capital, but FXIFY emerges as the superior choice due to its:
- Higher Profit Splits: FXIFY allows traders to retain more of their profits, with splits starting at 75% and scaling to 90%.
- Lower Fees: FXIFY’s refundable evaluation fees and absence of monthly charges reduce financial risks for traders.
- Flexible Trading Conditions: FXIFY supports news trading, EAs, and diverse trading strategies, offering greater freedom.
- Modern Platforms and Instruments: FXIFY provides access to advanced trading platforms and a wide range of instruments.
- Transparent Policies: FXIFY ensures clear communication of its rules, making it a trustworthy partner for traders.
For traders seeking flexibility, higher profitability, and a supportive environment, FXIFY is the better choice. Audacity Capital’s restrictive rules, high costs, and lower profit splits make it less competitive in today’s proprietary trading landscape.