Introduction
Alpicap is a proprietary trading firm based in Geneva, Switzerland, offering funding opportunities to traders through a structured evaluation process. With a focus on providing accessible capital to skilled individuals, Alpicap has established itself as a competitive option among prop firms. Through its various account types, risk management rules, and profit-sharing structures, the firm appeals to both novice and experienced traders seeking a funded trading career. This review explores Alpicap’s services, evaluations, trading rules, payout systems, and user experience in depth.
Company Background
Alpicap operates as a private Swiss company with a professional approach to funded trading. The firm’s goal is to identify and support profitable traders while maintaining a disciplined trading environment. Unlike some firms that obscure key details, Alpicap clearly defines its offerings and account options, allowing traders to choose the program that best aligns with their trading style and financial goals.
The firm offers funding through two primary evaluation tracks: a one-step assessment and a two-step assessment. Each track comes with unique rules and capital levels, tailored to assess traders based on consistency, profitability, and risk control.
Evaluation Models
One-Step Assessment
The One-Step Assessment is designed for traders who prefer a quicker path to a funded account. This model requires participants to reach a set profit target while following strict risk parameters. The main requirements include:
- Profit Target: 10%
- Daily Loss Limit: 4%
- Maximum Drawdown: 6%
- Leverage: 1:50
- Minimum Trading Days: 5
- No Time Limit: Traders can take as long as needed to complete the evaluation
Account sizes for this model range from $2,500 to $100,000. It is best suited for confident, experienced traders who already have a refined strategy and want to skip the more extended, step-by-step evaluations offered by other firms.
Two-Step Assessment
For traders who prefer a more traditional path or need more time to demonstrate profitability and discipline, the Two-Step Assessment offers a multi-phase approach:
- Phase 1 Profit Target: 10%
- Phase 2 Profit Target: 5%
- Daily Loss Limit: 5%
- Overall Drawdown Limit: 10%
- Minimum Trading Days Per Phase: 5
- No Time Limit: Allows for flexible evaluation pace
Account sizes for this model range from $5,000 to $200,000. This path is ideal for traders who want to showcase consistency over time and benefit from more forgiving loss limits.
Trading Conditions
Instruments and Platforms
Alpicap supports trading in a wide range of instruments, including:
- Forex pairs
- Commodities
- Indices
- Cryptocurrencies
Traders have access to MetaTrader 5 (MT5), a platform known for its reliability, flexibility, and strong charting tools. MT5 is compatible with both manual and algorithmic trading strategies, making it suitable for discretionary traders, scalpers, and expert advisor (EA) users alike.
Leverage and Spreads
Leverage for most accounts is capped at 1:50, which aligns with responsible risk management. The spreads are competitive, especially on major forex pairs, allowing for tight execution costs during peak trading hours. Overnight holding and weekend holding are permitted, which is a significant advantage for swing traders and those with longer-term strategies.
News Trading
Alpicap permits news trading, which allows traders to capitalize on volatility during major economic events. This feature is attractive to advanced traders who specialize in short-term price reactions around scheduled announcements.
Funded Accounts
Once a trader completes the evaluation successfully, they are transitioned to a funded account. The rules in the funded stage remain similar to the evaluation phase, ensuring consistency in expectations. Profit splits start at 80%, with an option to increase to 90% through optional add-ons or performance-based progression. These add-ons may include features like higher profit sharing, scaling benefits, and faster payout cycles.
Payout System
Alpicap follows a bi-weekly payout schedule. Traders can request their share of profits every two weeks, beginning after the first 14 calendar days in a funded account. Payouts are typically processed quickly and can be received through various methods including bank transfer and cryptocurrency wallets.
To qualify for a payout, traders must remain within risk parameters and avoid any violations. If any rules are broken, profits can be voided, and accounts may be terminated. The firm places a strong emphasis on integrity and adherence to rules, as it closely monitors trading behavior to ensure sustainability.
Risk Management and Rules
Alpicap maintains a well-defined risk framework. These rules are clearly communicated and enforced consistently:
- Daily Loss Limits: Calculated based on the starting balance at the beginning of each trading day
- Total Drawdown: Cumulative loss from peak equity must not exceed the drawdown threshold
- Lot Size Restrictions: No hard restrictions on lot sizes, but excessive over-leveraging may lead to disqualification
- Time Limits: There is no expiration on accounts or evaluation phases, encouraging methodical and thoughtful trading
This level of transparency allows traders to plan accordingly and focus on strategy rather than fear sudden disqualifications from unclear rule changes.
Trader Support and Community
Alpicap offers robust customer support through email and live chat, with response times that are generally fast and helpful. The firm also maintains a presence on social platforms, where traders can share insights, discuss setups, and stay updated on any policy changes or trading challenges.
A trader dashboard is available to all users, providing real-time analytics on account performance, risk metrics, and trade history. This tool is especially useful for traders looking to fine-tune their strategies and track progression over time.
Pros and Cons
Pros
- Flexible evaluations with no time limits
- Competitive profit splits up to 90%
- Supports news trading and overnight positions
- Transparent risk and payout structures
- Bi-weekly payouts with early access options
- User-friendly dashboard and trader tools
Cons
- Leverage limited to 1:50, which may not suit aggressive scalpers
- No trial or free challenge option
- Fees can be higher for larger accounts compared to smaller prop firms
Ideal Trader Profile
Alpicap is best suited for traders who:
- Have a proven strategy and are looking for capital without risking personal funds
- Are comfortable operating under clearly defined risk parameters
- Prefer a no-time-limit evaluation format
- Want access to a range of instruments and a reliable platform like MT5
- Value transparency and quick payouts
It may not be ideal for absolute beginners or traders who rely heavily on ultra-high leverage and high-frequency techniques.
Final Thoughts
Alpicap stands out as a serious, disciplined proprietary trading firm that balances opportunity with accountability. By offering flexible evaluations, generous profit shares, and a strong support structure, it empowers traders to thrive in a real capital environment. The firm’s commitment to clear rules, professional tools, and trader education makes it a compelling option for anyone seeking to scale their trading career with a reliable funding partner.
Whether you’re a seasoned swing trader or a precision-focused day trader, Alpicap provides the infrastructure needed to support your trading ambitions. As the proprietary trading landscape continues to evolve, Alpicap maintains a competitive edge by prioritizing trader success, risk control, and consistent growth.
