Trader Notion

FTMO vs Alpha Capital 2026: Every Rule Compared

TLDR: FTMO is the safer choice for traders who want the longest track record, a 90% scaling profit split, and refundable challenge fees. Alpha Capital is the better option for traders who want more challenge formats, on-demand payouts, and a path to $2M in account scaling. FTMO charges ~€540 ($580) for $100K with a fee refund on your first split; Alpha Capital charges $497 with no refund. Both use static drawdown, both support MT5 and cTrader, and both have Trustpilot ratings above 4.7. Your choice depends on whether you value reputation and simplicity (FTMO) or flexibility and payout speed (Alpha Capital).

FTMO and Alpha Capital Group both sit in the top tier of the prop firm industry in 2026. Both have paid out tens of millions to traders. Both have Trustpilot ratings above 4.7 from thousands of verified reviews. And both have avoided the wave of shutdowns that wiped out 80+ firms between 2024 and 2025.

So the question is not which firm is legitimate — they both are. The question is which firm's rules, pricing, and structure match the way you trade.

We compared every rule, fee, and policy side by side. Here is what separates them.

Quick Comparison Table

Feature	FTMO	Alpha Capital Group
Account sizes	$10K – $200K	$5K – $200K
Challenge price ($100K)	~€540 (~$580 USD)	$497
Challenge types	2-Step only	1-Step, 2-Step, 3-Step, Swing
Phase 1 profit target	10%	6% – 10% (varies by plan)
Phase 2 profit target	5%	4% – 6% (varies by plan)
Daily drawdown	5%	4% – 5% (varies by plan)
Max drawdown	10% (static)	6% – 10% (static or trailing, varies)
Min trading days	4	3 [UNVERIFIED]
Time limit	None	None
Profit split	80% → 90% (Scaling Plan)	80% (flat)
Payout frequency	Bi-weekly (14-day cycle)	Bi-weekly or on-demand
Payout methods	Bank transfer, Skrill, crypto	Rise, Wise, bank transfer
Fee refund on pass	Yes (with first profit split)	No
Platforms	MT4, MT5, cTrader, DXtrade	MT5, cTrader, DXtrade, TradeLocker
News trading (funded)	2-min restriction; Swing unrestricted	4–10 min restriction (varies by plan)
Weekend holding	Yes (Swing accounts)	Yes (Swing plan)
EA/bot policy	Allowed	Allowed
Scaling max	$400K (combined) → $2M via Scaling Plan	Up to $2M
Trustpilot	4.8/5 (~38,600 reviews)	4.7/5 (~16,900 reviews)
Years in operation	11	5
Total verified payouts	Not publicly disclosed	$120M+ [UNVERIFIED]

Pricing Breakdown

FTMO's $100K 2-Step challenge costs approximately €540, which converts to roughly $580 USD depending on the exchange rate. The fee is refunded with your first profit split on the funded account — so if you pass and generate a profit, the challenge effectively costs zero.

Alpha Capital's $100K Alpha Pro (10%) challenge costs $497. The Alpha One (1-Step) is also $497 at $100K, the Swing plan runs $577, and the Alpha Three (3-Step) costs $397. Alpha Capital does not refund challenge fees upon passing.

At the $100K level, Alpha Capital's upfront cost is $83 cheaper than FTMO's. But FTMO's refund policy flips the math: if you pass and hit your first payout, FTMO's net cost is $0. Alpha Capital's net cost remains $497 regardless of performance. For traders confident in their ability to pass and profit, FTMO's pricing model is materially better long-term.

At smaller account sizes, the gap narrows. FTMO's $10K account costs €155 (~$167 USD) versus Alpha Capital's $97. For traders testing the waters with smaller accounts, Alpha Capital offers lower entry.

For full breakdowns of each firm's pricing, rules, and trader feedback, see our FTMO review and Alpha Capital review.

Rules That Actually Matter

Drawdown calculation. FTMO's 2-Step challenge uses a static 10% maximum drawdown — your stop-out level is fixed at the initial balance minus 10%, no matter how high your account grows. A $100K account breaches at $90K, even if you ran it up to $108K first.

Alpha Capital's drawdown varies by plan. The Alpha Pro 10% and Swing plans also use a static 10% max drawdown. The Alpha One (1-Step) plan uses a 6% trailing drawdown — which means your stop-out level rises as your balance increases. On a $100K Alpha One account that reaches $105K, your breach level moves to $99K. Trailing drawdown is harder to manage, especially for swing traders who hold through overnight gaps.

The 40% best day rule (Alpha Capital only). This is the single biggest difference between the two firms. Alpha Capital requires that no single trading day accounts for more than 40% of your total profits at payout time. If your funded account earns $5,000 and $2,500 of that came from one day, that payout will be rejected until additional trading days dilute the concentration.

FTMO has no best day rule. You can earn your entire profit target in one session and the payout processes normally. For traders with concentrated or event-driven strategies, this gives FTMO a clear edge.

Profit targets. FTMO's 2-Step challenge requires 10% in Phase 1 and 5% in Phase 2. Alpha Capital offers more variation: the Alpha Pro 6% requires only 6% in Phase 1 and 6% in Phase 2, while the Alpha Pro 10% mirrors FTMO's 10%/5% structure. The lower-target Alpha Pro 6% pairs with a tighter 6% max drawdown, so the risk-reward ratio is roughly equivalent — but the lower absolute target can feel more achievable psychologically.

News trading restrictions. On funded accounts, FTMO enforces a 2-minute blackout window (2 minutes before and after high-impact releases). Alpha Capital's restrictions are wider: 4 minutes total on Pro 8% and 10% plans, and 10 minutes total on Pro 6%, One, and Three plans. If you trade around macro events, FTMO gives you more flexibility. For a deeper look at how these policies work across multiple firms, see our breakdown of prop firm risk management rules.

Payout Experience

FTMO pays on a bi-weekly cycle. Your first payout is available 14 days after your funded account is activated. The profit split starts at 80% and can scale to 90% through the Scaling Plan (which requires 4 consecutive profitable months and a 10%+ net gain). Payouts process via bank transfer, Skrill, or cryptocurrency.

Alpha Capital pays on a bi-weekly or on-demand basis. On-demand payouts are a meaningful advantage — you do not need to wait for a fixed cycle if you hit your target early. However, on-demand payouts are subject to the 40% best day rule and require a minimum 2% profit. The split is a flat 80% with no scaling program to reach 90%.

On payout speed, Alpha Capital has the edge — payouts typically process within 2 business days through Rise, Wise, or bank transfer. FTMO's processing time is comparable, though some traders report occasional delays during high-volume payout periods.

On total payout share, FTMO wins for profitable long-term traders. The 10% difference between FTMO's 90% scaled split and Alpha Capital's flat 80% adds up fast: on a $10,000 monthly profit, that is $1,000 more per month in your pocket at FTMO.

Platform and Execution

FTMO supports MT4, MT5, cTrader, and DXtrade. Alpha Capital supports MT5, cTrader, DXtrade, and TradeLocker (a newer platform gaining traction for its modern interface).

FTMO is the only one of the two that still supports MT4, which matters for traders running legacy Expert Advisors built for that platform. Alpha Capital dropped MT4 support, which is consistent with the broader industry trend away from MT4 following MetaQuotes' licensing changes.

Both firms allow Expert Advisors and algorithmic trading, though both reserve the right to investigate trading patterns that suggest abuse of the simulated environment (such as latency arbitrage). For platform-specific guidance, FTMO's official platforms page details execution specs for each supported platform.

Choose FTMO If...

You want the prop firm with the longest track record (11 years) and highest Trustpilot rating (4.8 from 38,600+ reviews).
You want the challenge fee refunded with your first profit split — effectively making the evaluation free if you pass.
Your strategy produces concentrated returns (big winning days) and you do not want a best day rule limiting your payouts.
You want a clear path to a 90% profit split through the Scaling Plan.
You trade around news events and need the narrowest possible restriction window (2 minutes).

Choose Alpha Capital If...

You want on-demand payouts rather than waiting for a bi-weekly cycle.
You prefer a 1-step evaluation — Alpha One gets you funded in a single phase.
You want more evaluation options (1-step, 2-step, 3-step, Swing) to match your trading style.
You are comfortable with the 40% best day rule because your daily P&L is typically distributed evenly.
You want access to TradeLocker alongside MT5, cTrader, and DXtrade.

The Verdict

For the average trader looking for a $100K funded account, FTMO is the stronger overall choice in 2026. The fee refund, 90% scaling split, 11-year track record, and absence of a best day rule give it clear advantages in long-term value and flexibility.

Alpha Capital is the better pick if you need evaluation flexibility (especially the 1-step option) or on-demand payouts. Its $497 price point is lower upfront, and the variety of challenge types accommodates more trading styles. But the non-refundable fee, flat 80% split, and 40% best day rule reduce its long-term value compared to FTMO.

If you want to understand how evaluations work at both firms and how to approach them strategically, read our guide on how prop firm evaluations actually work.

Frequently Asked Questions

Is FTMO or Alpha Capital cheaper?

Alpha Capital's $100K challenge costs $497 versus FTMO's ~$580. However, FTMO refunds the fee with your first profit split, making the net cost $0 if you pass. Alpha Capital does not offer refunds. For traders who pass, FTMO is effectively cheaper. For traders testing with smaller accounts or uncertain about passing, Alpha Capital's lower upfront cost reduces the initial risk.

Which has better payouts, FTMO or Alpha Capital?

FTMO offers an 80% split that scales to 90% through the Scaling Plan. Alpha Capital offers a flat 80% with no scaling. Both pay bi-weekly, but Alpha Capital also offers on-demand payouts. If you prioritize payout flexibility, Alpha Capital wins. If you prioritize the highest possible split over time, FTMO wins.

Can I use EAs with FTMO vs Alpha Capital?

Both firms allow Expert Advisors and automated trading strategies. Both support cTrader and MT5 for algo execution. FTMO also supports MT4, which is relevant if your EA was built for that platform. Both firms prohibit strategies that exploit simulated execution environments (such as latency arbitrage or high-frequency tick scalping).

FTMO vs Alpha Capital for scalping — which is better?

Both firms support scalping. FTMO's 2-minute news restriction is narrower than Alpha Capital's 4–10 minute window, giving scalpers more flexibility around macro events. FTMO's lack of a best day rule also benefits scalpers who may have high-concentration trading days. However, Alpha Capital's Alpha One (1-Step) evaluation with a 10% target and 6% trailing drawdown can work well for aggressive scalpers who want to get funded quickly.

Does FTMO or Alpha Capital have a consistency rule?

FTMO does not enforce a consistency rule. Alpha Capital enforces a 40% best day rule on funded accounts, which functions as a soft consistency requirement — no single day can account for more than 40% of your total profits at payout time. This rule has no impact during the evaluation phase, only on funded accounts when requesting payouts. For a broader look at consistency rules across the industry, see our explanation of how prop firm evaluations actually work.

FTMO vs Alpha Capital: We Compared Every Rule — Here's What Matters