#4. Audacity Capital

AudaCity Capital, a prop firm located in London, has a stated goal of empowering traders. They provide funding accounts with a maximum limit of $500k, aiming to support traders in their endeavors. Audacity Capital promotes the success of their traders and allows them to generate higher profits by trading with balances of up to $2,000,000. To qualify for funding, individuals must pass a 3-step assessment phase, which differs from the challenges typically found in proprietary firms. Alternatively, they can complete a two-step evaluation challenge. Once successfully completed, traders are eligible for profit splits of either 50% or 75% depending on the funding program they choose.

Who are Audacity Capital?

Audacity Capital, founded in 2012 and officially incorporated on January 28, 2014, is a London-based proprietary trading firm. Their primary focus is to assist traders in attaining success. Clients have the opportunity to access capital of up to $2,000,000 through the firm. Audacity Capital has established a valuable partnership with an institutional liquidity provider, allowing them to leverage deep market liquidity. Furthermore, clients can enjoy the advantages of trading without incurring commissions or swaps on trades, while also benefiting from tight spreads. The firm's headquarters are situated at The Frames, 1 Phipp Street, London EC2A 4PS, England, United Kingdom.

Funding program options

Audacity Capital provides traders with a selection of two distinct funding programs to consider:

• Funded Trader Program
• Ability Challenge

Funded Trader Program account

Audacity Capital offers a distinctive funded trader program, which involves a three-step assessment phase and allows traders to trade with a leverage of 1:5.

In the first step, traders need to complete an application form to apply for the funded trader program. The form includes questions about their trading experience and strategy.

The second step involves an interview. If the trader is located in London, they have the option for a face-to-face interview at the company's trading floor. For those outside London, a phone interview is conducted to further understand their trading experience.

The third step of the funded trader program entails receiving the results. Approval or rejection is communicated within 24 hours. If approved, traders are sent a contract to handle the necessary paperwork. They also receive their account credentials, and their trading account is funded. To commence trading, traders must make a one-time joining fee payment of £298, along with a monthly fee of £99.

Upon completion of all three steps, paperwork, and payment of the required fees, traders can start trading with a $15,000 account and begin generating profits. The primary rule is to maintain a maximum loss of 10%, while there are no specific limitations on minimum or maximum trading days. Traders can withdraw their profits whenever they reach a profit target of 10%. The profit split for the funded account is 50%, based on the profits earned.

Funded Trader Program account scaling plan

In addition, the funded trader program incorporates a scaling plan. To qualify for a profit split and increase your account balance, you must achieve a profit target of 10%. This milestone enables you to withdraw your portion of the profits and effectively double your account balance.

In the funded trader program, the available trading instruments primarily consist of forex pairs. However, once you have successfully scaled your account to $120,000, you will have the opportunity to seek permission to trade commodities and indices as well.

Funded Trader Program account rules

• The profit target is a predetermined percentage of profit that traders must achieve in order to fulfill various requirements such as completing an evaluation phase, withdrawing profits, or scaling their account. In your case, you have a profit target of 10%, which is essential for scaling your account and initiating a withdrawal request.

• The maximum loss represents the highest allowable overall loss that a trader can incur before the account is considered violated. In this particular scenario, the maximum loss limit is set at 10%.

• Traders are obligated to adhere to predetermined lot sizes for specific trading instruments, as dictated by the lot size limit. Typically, these lot sizes are determined based on the initial account balance of the prop firm account.

• The restriction on news trading entails that traders are prohibited from engaging in trading activities during periods of high-impact news releases.

• The policy of "no weekend holding" implies that traders are not permitted to maintain open positions over the weekends. However, it's worth mentioning that weekend holding can be accommodated upon request.

Ability challenge accounts

The ability challenge account provided by Audacity Capital is designed to assess and recognize traders who exhibit consistency and discipline. Traders who demonstrate these qualities during the two-phase evaluation period are rewarded accordingly. The ability challenge offers the opportunity to trade with leverage of 1:100.

Account Size - Prices

$10,000 - £99

$15,000 - £149

$30,000 - £269

$60,000 - £369

$120,000 - £629

$240,000 - £1,269

In the first phase of the ability challenge, traders must achieve a profit target of 10% while ensuring they do not exceed a maximum daily loss of 7.5% or a maximum overall loss of 15%. It is necessary to engage in trading for a minimum of 7 calendar days and achieve the profit target within 30 calendar days from the initial position placement in the ability challenge account.

Moving on to the second phase of the ability challenge, traders are required to attain a profit target of 10% while keeping the maximum daily loss within 5% and the maximum overall loss within 10%. Similar to the first phase, a minimum trading period of 7 calendar days is mandatory, and the profit target must be reached within 60 calendar days from the commencement of trading in the ability challenge account.

Successful completion of both phases rewards traders with a funded account, which does not have profit targets. Instead, traders are expected to adhere to the maximum daily loss of 5% and maximum overall loss of 10% rules. The first payout from the funded account occurs 30 calendar days after the initial position placement. During this period, traders must engage in a minimum of 7 calendar days of trading, maintaining consistent lot sizes. The profit split for the funded account is set at 75%, based on the profits earned. It's important to note that Ability Challenge accounts are eligible for a free retake and a 14 calendar days extension under specific criteria.

Ability challenge account scaling plan

Within the ability challenge accounts, there exists a scaling plan that enables traders to gradually increase the size of their accounts. This scaling process occurs on a quarterly basis, allowing traders to reach a maximum balance of $2,000,000.

Furthermore, the trading instruments available for the ability challenge accounts encompass a variety of options. Traders have the opportunity to trade forex pairs, commodities, and indices, thereby expanding their trading opportunities beyond just forex.

Ability challenge account rules

• The profit target represents a predetermined percentage of profit that traders must achieve in order to fulfill various milestones such as completing an evaluation phase, withdrawing profits, or scaling their account. In the first phase, the profit target is set at 10%, while in the second phase, it is reduced to 5%. However, funded accounts do not have any profit targets associated with them.

• The maximum daily loss refers to the highest allowable loss that a trader can incur within a single day before the account is considered violated. In phase one of the evaluation, the maximum daily loss limit is set at 7.5%. In phase two, it is reduced to 5%. For funded accounts, the maximum daily loss limit remains at 5%.

• The maximum loss represents the highest permissible overall loss that a trader can experience before the account is considered violated. In phase one of the evaluation, the maximum loss limit is set at 15%. In phase two, it is reduced to 10%. For funded accounts, the maximum loss limit remains at 10%.

• The minimum trading days refer to the mandatory duration for which you must engage in trading before being eligible to complete an evaluation phase or request a withdrawal. This requirement applies to both ability challenge phases and the funded account, necessitating a minimum of 7 trading days in each case.

• Both the ability challenge phases and the funded account have a minimum trading days requirement, which indicates the mandatory duration for traders to actively participate in trading before they can complete an evaluation phase or submit a withdrawal request. In both cases, a minimum of 7 trading days is necessary to fulfill this requirement.

• Traders are prohibited from engaging in trading activities during high-impact news releases under the policy of "no news trading." However, it's important to note that news trading is permitted exclusively during both ability challenge phases.

• Under the policy of "no weekend holding," traders are restricted from maintaining open positions over the weekends. It's worth mentioning that weekend holding can be arranged upon request. However, it's important to note that holding positions over the weekend is only permissible during both ability challenge phases.

• The consistency rule is a guideline that mandates traders to maintain uniformity in various aspects of their trading activities, such as position sizes, risk management, losses, gains, and other relevant factors. This implies that the performance and characteristics of the trading account should not exhibit significant and drastic variations.

What makes Audacity Capital different from any other prop firm?

Audacity Capital sets itself apart from other prominent prop firms by offering two distinct funding programs: the Funded Trader Program and the Ability Challenge account. Furthermore, Audacity Capital implements clear and concise rules that impose minimal limitations on traders.

In comparison to other proprietary trading firms, Audacity Capital's Funded Trader Program stands out as a unique opportunity. This program entails a comprehensive three-step assessment, including an interview with the trader to evaluate their qualifications for managing the firm's capital. Traders participating in the Funded Trader Program aim to achieve a profit target of 10%, which allows them to request withdrawals and potentially double their account balance.

Audacity Capital's ability challenge introduces a two-phase evaluation program that traders must successfully complete to become eligible for payouts. The first phase targets a profit goal of 10%, while the second phase reduces the profit target to 5%. Phase one is subject to a maximum daily loss of 7.5% and a maximum overall loss of 15%. In phase two, the maximum daily loss is 5% with a maximum overall loss of 10%. Additionally, traders must trade for a minimum of 7 days in each phase before becoming funded. The ability challenge also incorporates a scaling plan. In comparison to other industry-leading prop firms, Audacity Capital's profit targets and minimum trading days are considered average.

A comparative example between Audacity Capital and E8 Funding:

A comparative example between Audacity Capital and Top Tier Trader:

Is getting Audacity Capital funds realistic?

When evaluating prop firms that align with your forex trading style, it is crucial to assess the realism of their trading requirements. While a company offering a high percentage profit split on a well-funded account may sound appealing, it becomes less viable if they expect substantial monthly gains with minimal drawdown percentages. In such cases, the likelihood of achieving success becomes exceedingly low.

Receiving capital through Audacity Capital's Funded Trader Program is particularly realistic for experienced traders. The process involves presenting your track record and trading strategy during an interview, after which you have the opportunity to gain approval and funding without any additional challenges to overcome.

Likewise, obtaining capital through the Ability Challenge is also realistic, primarily due to the program's reasonable profit targets (10% in phase one and 5% in phase two) and above-average maximum loss rules (Phase 1: 7.5% maximum daily and 15% maximum overall loss; Phase 2: 5% maximum daily and 10% maximum overall loss).

Taking all these factors into consideration, Audacity Capital proves to be an excellent choice for obtaining funding. The firm offers two distinct funding programs with realistic trading objectives and conditions for receiving payouts, providing traders with viable opportunities to achieve their goals.

Payout proof

Which broker does Audacity Capital use?

Audacity Capital does not engage in trading with typical broker brands. Instead, they have established a strategic partnership with an institutional liquidity provider. This collaboration enables them to leverage deep liquidity in the market while enjoying the advantages of trading with no commissions or swaps on trades and benefiting from tight spreads.

Regarding trading platforms, Audacity Capital permits traders to utilize the popular MetaTrader 4 platform for their trading activities.

Trading instruments

Trading fees

Traders’ Comments about Audacity Capital

Summary

In summary, Audacity Capital stands out as a reputable proprietary trading firm that provides traders with live funding opportunities based on their past track record performances. Upon approval and funding, traders are required to pay a one-time fee and a monthly platform fee to access a capital amount of $15,000. Furthermore, Audacity Capital offers an industry-standard Ability Challenge, which consists of a two-phase evaluation process.

The Funded Trader Program involves a three-step assessment, including an interview to assess a trader's qualifications for managing the firm's capital. Traders in this program have a profit target of 10%, which enables them to request withdrawals and potentially double their account balance, up to a maximum of $480,000.

The Ability Challenge follows a two-phase evaluation structure, with traders needing to achieve profit targets of 10% in phase one and 5% in phase two to become funded and eligible for profit splits. These profit targets are considered realistic given the accompanying maximum daily loss rules of 7.5% and 15% in phase one, and 5% and 10% in phase two. Traders participating in the evaluation programs can also benefit from profit splits of 75% and have the opportunity to scale their accounts up to a maximum balance of $2,000,000.

Based on its transparent rules and minimal limitations, I highly recommend Audacity Capital to those seeking a legitimate and well-established proprietary trading firm. With its comprehensive offerings, Audacity Capital ranks among the top choices in the industry.