Audacity Capital Review 2024
Website: www.www.audacitycapital.co.uk
Min. Deposit: US$ 59
Leverage: 1:20
Trading Platforms: MT5, MT4
Regulation: UK
Headquarters: London, UK
Founded: 2012
Regulatory Licenses:
- Audacity Global LTD — registered in UK company number 08865122
Updated on February 2, 2024
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In our quest to provide a comprehensive review, we have developed a meticulous method that involves a thorough analysis and comparison of over 1000 brokers. This extensive research ensures that our recommendations are based on a wide array of critical factors, including fees, spreads, trading platforms, customer service, and regulatory compliance. Our aim is to furnish traders with an unbiased and detailed overview to make informed decisions.
What is Audacity Capital?
Audacity Capital, founded in 2012, has carved a niche for itself as a distinguished forex proprietary trading firm. It specializes in offering funded accounts to traders who have shown proficiency in generating profits through forex trading. With a focus on empowering professional traders across the globe, Audacity Capital stands out for its range of trader programs and its commitment to supporting traders' growth. As a proprietary trading firm, it presents a unique opportunity for genuine trading engagement with minimal initial investment. Traders aspire to become Funded Traders, which involves trading with the firm’s capital. This is contingent upon passing a specific test or challenge to secure a funded account, thereby enabling them to trade professionally using the company’s funds. While engaging with proprietary trading offers significant opportunities, it is crucial to weigh the associated risks meticulously before involvement.
Pros
Lower profit target requirements make it accessible for many traders.
Competitive pricing and low registration fees offer great value.
Availability of both MT4 and MT5 platforms, including support for Expert Advisors (EAs), caters to a wide range of trading strategies.
Exceptional customer support enhances the trading experience.
A diverse range of trading programs allows traders to find one that best suits their needs.
Cons
The stringent criteria to become a funded trader can be a significant hurdle for some.
Limited range of instruments may restrict trading strategies.
The nonrefundable fees policy is a downside for those who are unsuccessful in the challenge.
Only the MetaTrader platform is available, which might not appeal to traders seeking variety in trading platforms.
Is Audacity Capital Legit?
Audacity Capital is recognized as a legitimate proprietary trading firm, with its base in the UK contributing significantly to its credibility. The UK's stringent financial market regulations help bolster the firm's reputation. Since its establishment in 2012, Audacity Capital has gained a positive reputation through its transparent trading programs and dedicated trader support and training. These efforts have solidified its position in the proprietary trading industry.
Unlike regulated Forex Brokers, Proprietary Trading firms often operate with less regulatory oversight, indicating they might not provide the same level of security as regulated brokers. Given that these firms manage their operations and funding internally, it's imperative for individuals to fully grasp the risks involved before engaging with them.
Is Audacity Capital Scam?
In our thorough examination of Audacity Capital's official website, we found no indicators suggesting it's a scam. Nonetheless, the Prop Trading sector's generally lower regulation makes it challenging to definitively judge the firm's legitimacy. Individuals are advised to proceed with caution and conduct extensive research before getting involved.
For those interested in Proprietary Trading, it's essential to understand the inherent risks and choose a firm that is both reputable and established. Prop Trading typically involves lower financial risks compared to trading with personal funds, as traders are mainly covering subscription fees rather than investing their own capital.
Audacity Capital Challenge Evaluation Rules ▲
A pivotal aspect of our review involves a detailed understanding of the Audacity Capital evaluation challenge, including the prerequisites for participating in their trading challenge. This entails reviewing the specific criteria traders must meet to secure a Funded Trading Account and become a Proprietary Trader. The costs for traders, often in the form of a registration fee, also merit consideration.
The primary objective of the challenge is to showcase your trading prowess. Audacity Capital's Challenge encompasses a two-step evaluation: the Initial Challenge Phase, aimed at achieving certain profit targets and adhering to trading rules, followed by a Verification Phase to verify trading skills and consistency. Successfully navigating these phases leads to the opportunity to trade with a live account.
Account Balance and Registration Fee ▲
When embarking on a journey with Audacity Capital, selecting an account model and balance is crucial as the challenge conditions and registration fee vary depending on the account size. Notably, Audacity Capital reimburses this fee upon qualifying as a Funded Trader. For detailed fee information based on account sizes, their Registration Fee comparison table is a valuable resource.
Audacity Capital offers a variety of programs, including the Funded Trader Program, Flex Trader Program, Pro Funded Trader Program, and the Ability Challenge, each designed to suit different levels of trading expertise and requirements.
The Funded Trader Program kicks off with a $15,000 funding, scaling up to $480,000, offering swift approval and access to premium liquidity with no commission or swap fees. The Ability Challenge, alternatively, is a two-step demo process targeting all experience levels, presenting increased leverage and flexible trading conditions upon successful completion.
The process to join Audacity Capital involves an application, interview, and an assessment by their risk management team. Once approved, traders can immediately begin trading live data.
The profit target set for traders participating in Audacity Capital's Ability Challenge is 10%. This target is applicable to both the Initial Challenge Phase and the Verification Phase of the evaluation. Beyond these phases, when a trader manages a live account, there's no predefined profit target, with the firm offering a 75% profit share on the profits generated.
In both Audacity Capital's Ability Challenge and the Funded Trader Program, the maximum permissible loss, or the maximum drawdown, is capped at 10% of the initial account balance. This stipulates that if a trader's account equity dips below 90% of the initial balance, they would either fail the challenge or be excluded from the funded program.
The minimum trading period specified in the Audacity Capital Ability Challenge is 4 days. This requirement mandates traders to actively trade for at least 4 days during the evaluation, whether in the initial challenge phase or the verification phase. This ensures that traders demonstrate consistent trading activity and proficiency over a meaningful period, rather than meeting their targets through sporadic successful trades.
Audacity Capital does not offer a free trial for its trading programs, which includes the Ability Challenge and the Funded Trader Program. Participants generally need to pay a fee to enroll in these programs, covering the Ability Challenge’s evaluation process and the Funded Trader Program.
Audacity Capital Funded Account ▲
After successful completion of the test or challenge, traders are provided with their Funded Account, which is typically activated within a few business days. It is essential to highlight that the conditions and balance of the account will correspond to the specifications of the test passed. For traders aiming to move to a higher account tier, a new test for the desired account balance level must be passed from scratch.
Profit Split
At Audacity Capital, the distribution of profits varies by program: a balanced 50/50 split in the Funded Trader Program and a more favorable 85/15 split for traders who excel in the Ability Challenge and move on to live account trading.
In evaluating broker account conditions, account preferences, platform options, instruments available, trading costs, leverage ratios, and overall trading conditions are thoroughly examined. Some brokers might limit certain strategies or practices in funded accounts, potentially leading to account forfeiture and necessitating requalification.
Trading Instruments
Audacity Capital provides access to a broad array of tradable instruments, encompassing forex, commodities, and indices. This diversity offers traders extensive opportunities across various markets, from foreign exchange to commodities and stock market investments.
Audacity Capital Commission
Audacity Capital adopts a commission-free approach, eliminating trade commissions for traders. Instead, traders are required to pay a subscription fee for participation in programs like the Ability Challenge and Funded Trader Program.
Leverage
Leverage offered by Audacity Capital is set at 1:20 for participants in its trading programs, including the Ability Challenge and the Funded Trader Program. This leverage level enables traders to manage larger positions than their account balance would typically allow, potentially increasing both gains and losses. Traders must exercise caution and fully understand the risks involved when trading with elevated leverage.
Audacity Capital App Platform
Audacity Capital provides the widely used MetaTrader platforms, MT5 and MT4, through collaborations with technology providers. However, it exclusively supports MetaTrader platforms, directing traders seeking alternative software solutions to other proprietary trading firms.
Trading Conditions
Audacity Capital's trading conditions aim to foster a fair and structured trading environment while facilitating opportunities for traders to advance their careers and achieve profitability. The company generally does not impose specific restrictions on trading styles, granting traders the freedom to adopt a variety of strategies, including scalping, day trading, swing trading, and position trading. Regarding Audacity Capital Slippage, it is typically not an issue, though trading around news events is restricted 5 minutes before and after the release to mitigate potential slippage.
Audacity Capital Promotions
Audacity Capital occasionally introduces promotions, including discounts through Audacity Capital coupons. These offers are often time-sensitive, so verifying their current availability upon account access is recommended.
Audacity Capital facilitates payouts and withdrawals based on traders reaching their profit targets. Upon achieving the 10% profit target, traders can initiate a withdrawal request via a specified form. Payouts are usually processed and disbursed within 48 hours.
Withdrawal Method
The specific withdrawal methods, such as bank transfers, electronic wallets, or others, are clarified to traders upon enrollment in the program and access to their trading account or dashboard.
Audacity Capital Alternative
Comparing Audacity Capital with other Prop Trading Firms is crucial, as some may offer more favorable conditions, a wider range of instruments, or alternative platform choices. Moreover, understanding Audacity Capital's unique benefits is essential. For a comprehensive comparison and overview of alternatives, explore our comparative table.
