Overview of AudaCity Capital
AudaCity Capital, founded in 2012, is a UK-based company offering funded trader programs for forex enthusiasts. While not directly regulated, they provide access to live trading accounts through various programs like the Ability Challenge (with demo) and Funded Trader Programs, offering different features and leverage options.
Trading platforms include MT4 and MT5, with tight but undisclosed spreads. Customer support is available via phone and email. They also offer educational resources like courses, webinars, and a blog to equip aspiring traders. Remember, their focus is on funded programs, not traditional deposits or withdrawals.
Pros and Cons
Pros:
Funded Trader Programs: AudaCity Capital's core offering eliminates the barrier of initial capital by providing funded accounts through various programs. This allows aspiring traders to gain experience and potentially generate profits without risking their own money.
Program Variety: They satisfy diverse needs with multiple programs. The Ability Challenge offers a low-risk entry point with a demo account and the potential to win a funded account. Funded Trader Programs provide different account sizes, risk settings, and features like doubled risk allowance for experienced traders.
Educational Resources: AudaCity Capital acknowledges the importance of learning and equips traders with various resources. The AudaCity Capital Academy offers free and paid courses covering technical analysis, risk management, and other essential topics. Webinars and blogs provide additional insights and market updates.
Tight Spreads: They claim to utilize institutional liquidity providers for potentially tighter spreads, which can reduce trading costs compared to wider spreads offered by some brokers.
Performance-Based Compensation: AudaCity Capital incentivizes good trading by allowing traders to keep a significant portion of their profits, typically ranging from 70% to 90% depending on the program and performance.
Cons:
No Regulatory Oversight: Unlike regulated brokers, AudaCity Capital doesn't hold any financial regulations or licenses. This raises concerns about consumer protection and potential recourse in case of disputes.
Limited Asset Selection: While primarily focused on forex, some programs offer indices and commodities, the overall selection remains narrower compared to brokers offering a wider range of assets like stocks, bonds, and options.
High Monthly Platform Fees: Both MT4 and MT5 platforms incur additional monthly fees, which can add to the overall cost of participation, especially for those utilizing advanced features or requiring multiple platforms.
Spreads Not Publicly Disclosed: While claiming tight spreads, specific details are not readily available. This lack of transparency necessitates direct inquiry, making it difficult to compare with other brokers upfront.
No Direct Leverage: Unlike traditional forex trading, AudaCity Capital programs don't offer leverage. Instead, they use fixed lot sizes based on account size, limiting the potential for amplified gains (and losses).
Regulatory Status
AudaCity Capital itself does not hold any financial regulations or licenses. This is because they do not offer traditional financial products or services, such as buying and selling stocks, bonds, or mutual funds. Their core business revolves around funded trader programs, which are not considered regulated activities in most jurisdictions.
Market Instruments
AudaCity Capital specializes in providing tailored solutions for forex traders, focusing on funded trader programs and educational resources rather than traditional financial products like stocks or bonds.
One of their standout offerings is the Ability Challenge, a two-week competition where traders can vie for a $50,000 funded trading account, assessed based on profitability, risk management, and consistency. Their flagship Funded Trader Program offers access to live trading accounts starting at $15,000, with no monthly fees and traders retaining 80% of profits.
For those seeking enhanced opportunities, the Funded Trader Program FLEX doubles risk allowance, drawdown, and profit targets, allowing trading of indices and commodities like gold.
Additionally, experienced traders can explore the Pro Funded Trader Program, offering accounts starting from $250,000 with the potential to retain up to 90% of profits.
Through these programs, AudaCity Capital empowers traders with varied experience levels to pursue their goals in the forex market, supported by robust resources and funding opportunities.
Account Types
AudaCity Capital doesn't offer traditional accounts like savings or investments. Instead, they focus on funded trader programs, which provide access to live trading capital with specific conditions.
Live/Demo Environment Accounts
Explore a range of programs offering both live and demo trading accounts, giving you the freedom to choose your desired path. If youre looking towards live trading, you have multiple options with the Funded Trader Program, Flex Trader Program, and Pro Trader Program. These avenues enable you to start trading live accounts right from day one, eliminating the need to waste time on a demo account.
Ability Challenge Account
However, if youre keen on testing your ability and believe you have the potential to excel as a top trader, we invite you to take on the Ability Challenge. This challenge initiates your trading on a demo account, subject to a 2-step evaluation aimed to gauge your skills. Successfully completing this challenge will unlock greater rewards.
How to Open an Account？
AudaCity Capital focuses on funded trader programs, which require specific steps and eligibility criteria. Here's a breakdown of the process for each program:
Ability Challenge:
Visit the Ability Challenge page: Go tohttps://www.audacitycapital.co.uk/ability-challenge/ and review the challenge details.
Create an account: Click “Checkout” and fill out the form with your personal information.
Choose your account size: Select your desired funded account size.
Complete the verification process: Verify your identity by uploading required documents.
Start the challenge: Once approved, you'll receive access to the trading platform and challenge rules.
Trade for 4 days or more: Follow the challenge rules and demonstrate your trading skills.
Top performers win: If you rank among the top performers, you'll win the corresponding funded account.
Funded Trader Programs:
Visit the program page: Choose your preferred program (Standard, FLEX, or Pro) on the AudaCity Capital website.
Selecting preferred payment currency and trading platform
Apply online: Fill out the application form with your trading experience, risk tolerance, and goals.
Pass the evaluation: Depending on the program, you might need to pass a written test or live trading evaluation.
Fund your account: Once approved, pay the one-time program fee to activate your account.
Start trading: Begin trading with your allocated capital and adhere to program rules and risk parameters.
Keep your profits: Earn profits and keep the agreed-upon percentage based on your chosen program.
Spreads & Commissions
AudaCity Capital distinguishes itself by offering commission-free trading across all its funded trader programs, eliminating the need for traders to pay additional fees per trade on top of the spread.
AudaCity Capital utilizes an institutional liquidity provider to ensure tight spreads. However, the specific spread details are not publicly disclosed. You'll need to inquire directly during the application process or upon account activation to get the exact figures for your chosen program and desired trading instrument.
Leverage
AudaCity Capital offers a range of trading programs satisfying traders of varying experience levels, each with its unique features and benefits. However, the maximum leverage provided by AudaCity Capital varies depending on the specific program.
In the case of the Ability Challenge, participants can benefit from enhanced leverage of up to 1:100, providing them with increased trading power to capitalize on market opportunities. This leverage advantage, coupled with other benefits such as fair evaluation, substantial initial capital without scaling, and a profit-sharing model of up to 85%, makes the Ability Challenge an attractive option for traders looking to kickstart their trading journey.
For the Funded Trader Programs, including the Funded Trader, Flex Trader, and Pro Trader programs, the approach to leverage differs. These programs do not directly offer leverage to users. Instead, traders are provided with fixed lot sizes based on their chosen account size, starting from $15,000 and scaling up to $480,000, depending on the program. While leverage is not explicitly provided, traders still benefit from premium liquidity, zero commission and swap fees, flexible trading conditions, and unique features such as zero loss liability and doubled risk allowance in the case of the Flex Trader program.
Trading Platform
AudaCity Capital provides traders MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, renowned for their user-friendly interfaces and powerful analytical tools. These platforms offer a comprehensive suite of features tailored to meet the needs of both novice and experienced traders alike.
However, it's essential to note that there is a monthly fee associated with using these platforms, £99 for MT5 users and £129 for MT4 users. Despite this fee, traders benefit from a trading experience characterized by advanced charting capabilities, customizable indicators, and a wide range of order types. Additionally, both MT4 and MT5 platforms support automated trading through Expert Advisors (EAs), allowing traders to execute their strategies with precision and efficiency.
Educational Resources
AudaCity Capital provides a comprehensive array of educational resources aimed at empowering traders with the knowledge and skills necessary to succeed in forex trading:
AudaCity Capital Academy offers a diverse range of both free and paid courses tailored to different skill levels and trading preferences. Courses cover essential topics such as technical analysis, fundamental analysis, and risk management, equipping traders with the foundational knowledge needed to navigate the forex markets effectively.
AudaCity Capital regularly hosts free webinars conducted by industry experts on a wide range of forex trading topics. These webinars serve as valuable opportunities for traders to deepen their understanding of market dynamics, trading strategies, and risk management techniques, while also providing a platform for interactive engagement and Q&A sessions.
The AudaCity Capital blog serves as a valuable repository of forex-related news, analysis, and insights. Traders can stay informed about market developments, economic indicators, and geopolitical events that may impact currency prices. Additionally, the blog offers practical tips, trading strategies, and real-world examples to help traders make informed decisions in their trading activities.
Customer Support
AudaCity Capital prioritizes providing exceptional customer support to assist traders with their queries and concerns promptly and efficiently. Traders have multiple channels through which they can reach out for assistance. In case of urgent queries, traders can directly call the customer support team at +44 20 8050 1985, ensuring immediate access to assistance when needed. Additionally, traders can also reach out via email at support@audacitycapital.co.uk, allowing them to communicate their queries or issues in writing for a detailed response.
Conclusion
AudaCity Capital's funded trader programs offer a unique opportunity to trade with real capital without upfront investment. They boast diverse programs, educational resources, and potentially tight spreads, attracting aspiring traders. However, the lack of regulatory oversight and limited asset selection raise concerns.
Additionally, high platform fees and the absence of direct leverage might be dealbreakers for some. Ultimately, carefully consider your risk tolerance, financial goals, and preferred trading style before deciding if AudaCity Capital aligns with your needs. Remember, research thoroughly and understand the potential disadvantages alongside the advantages before making any commitments.
FAQs
Q: What sets AudaCity Capital apart from other brokers？
A: Unlike traditional brokers, AudaCity Capital focuses on funded trader programs. This eliminates the initial capital barrier, letting you trade with real money while developing your skills.
Q: Do I need any trading experience to join？
A: The Ability Challenge offers a low-risk entry point with a demo account, even for beginners.
Q: Are there any fees involved？
A: There are no upfront investment fees, but each program has a one-time fee to activate your account. Additionally, the MT4 and MT5 platforms come with monthly subscription fees.
Q: What about leverage？
A: AudaCity Capital doesn't offer direct leverage. Instead, they use fixed lot sizes based on your chosen account size, providing controlled risk exposure.
Q: Is AudaCity Capital regulated？
A: AudaCity Capital itself doesn't hold any financial regulations.
Q: What assets can I trade？
A: The focus is primarily on forex, with some programs offering access to indices and commodities.
Q: How do I get started？
A: Explore the Ability Challenge for a low-risk introduction. For other programs, review the requirements and apply online.
Q: Where can I learn more？
A: AudaCity Capital offers a wealth of resources, including courses, webinars, and a blog.
2023-02-16 14:09
2023-02-13 15:38
