Prop firms offer a great way for traders with some experience to build their capital and gain some further skills in their feed. However, there are many out there and it can be really difficult to narrow them to down when considering which one is best for you and your trading career.
In today’s article we look at AudaCity Capital and figure out all the details so that you don’t have to. Read on to find out whether you should be looking at AudaCity Capital to take your trading career to the next level.
Who Are AudaCity Capital?
With a self-proclaimed mission to empower traders, AudaCity Capital are a prop firm based out of London offering funding accounts up to $500k. Founded in 2012, the company has funded over 5000 traders so far and has some great features that should definitely be considered!
In 3 easy steps, traders can use all sorts of instruments once they earn their funded account, including currency pairs, commodities, and equities. Additionally, they also offer algorithmic and fixed income trading.
They really stand out in the industry compared to some of the other forex prop firms. This is due to the in-person approach, a huge 50/50 profit split, as well as an aggressive scaling program.
So far it’s looking good, but let’s delve a bit further into what AudaCity Capital is all about…
Getting Funding From Audacity Capital
As mentioned before, traders can expect account sizes up to $500k with the company and a 50% profit split on top of that. These are good stats, and similar to a lot of other prop firms. However, the way to getting a funded account is slightly different. Rather than requiring an initial evaluation where you test your trading through a demo account following some set rules, AudaCity Capital just has 3 simple steps to a funded account.
Step 1 is to apply to the programme. Traders need to fill out a form to show some basic experience, including your trading strategy and how long you’ve been trading for. This first step is basically to demonstrate that you have enough experience for a funded account.
Step 2 is a face to face interview with the team to go a little more into detail into your experience with trading and what would be required of you when trading a funded account Live. If you’re based in London the interview will take place at their trading floor, otherwise it’ll be over the phone. This is very much a different process from our other Top Prop Firms in the industry.
Step 3 is to start trading a funded account! Within a speedy 24 hours, AudaCity Capital will confirm whether you’re eligible and consequently send over all the account details.
Though different to an evaluation, interviews give a more personal feel to the company as you know exactly who the faces of it are. Furthermore, the process is fairly simple and relatively quick too since you’ll get confirmation within 24 hours which means no waiting around for ages; unlike other firms in our Top Prop Firms List where the process can potentially take months.
What Makes AudaCity Capital Different To Other Prop Firms?
There are a few notable features of AudaCity Capital that stood out to us, making it slightly different from the other prop firms out there. Of course the most obvious is the initial process of getting account which is refreshing to see and really good for those who are all about a personal feel from the company.
Talking face to face with those at AudaCity means you know exactly who represents the company and also makes it a lot easier should you have any questions about the process or the prop firm. In addition, the company have a trading floor based in London, which means if you’re looking to a place where you can work in person, they offer this opportunity.
Should you be based in London or are able to commute there, it’s a really great way to work in an environment catered to trading surrounded by a like minded community. Many of the competitors on our Best Prop Firms List like BluFx or MyForexFunds don’t actually offer any opportunity to meet in person.
Another feature is their ‘Refer a Trader‘ scheme. With even more opportunity to make money, traders can use their personal link to refer other traders to the company and in turn earn some commission.
It’s definitely worth noting that AudaCity Capital give traders the opportunity to trade a lot of capital. For every 10% profit made, your capital is doubled from $15,000 all the way up to $500,000 which gives traders a lot to work with and the potential to grow their account significantly.
This is one of the best scaling opportunities, capital wise, that we have seen – for instance FTMO, the highest rated prop firm, doesn’t offer any kind of real scaling opportunities. I know that BluFx offer roughly the same opportunity for scaling capital but as you can see from our full BluFx review here, they are lacking in a few other areas.
Is Getting Funding From AudaCity Capital Realistic?
The short answer is it’s very realistically to get funding from Audacity Capital. With no initial evaluation you aren’t expected to follow restrictive and potentially strict rules that make it way harder to gain a funded account.
Furthermore, with the wide range of instruments AudaCity are offering to their traders, everyone is accommodate for no matter their trading style. Other companies leading the industry like FTMO, 5%ers and even CTI all have various different trading evaluations that stop traders being funded if they have a bad month, which AudaCity doesn’t have.
Further, AudaCity Capital are offering a ‘Hidden Talents Programme‘, which is a service designed to help traders gain even more skills. Should you be looking at getting some more experience before attempting to work with a prop firm, their programme is a really great way to boost your skillset and ensure that you go into trading a funded account with the most confidence possible.
AudaCity Trading Review- What Are Other Traders Saying?
As always with our Best Prop Firm Reviews, we like to include a section specifically designed to give personal reviews from traders around the world. It’s always helpful to look into websites such as Trustpilot, where traders have had their own experience with a prop firm and can offer some additional advice or a review of the company.
AudaCity Capital has an Excellent rating on Trustpilot with a score of 4.8, which says it all really. Not only do they have a great score, they currently have over 600 reviews! This is very competitive with reviews of other prop firms such as FTMO or even City Traders Imperium which have around the same level of ranking on Trustpilot.
Overall, traders seem to have had a really good experience with the prop firm, finding that it was the perfect company to take their career further as well as making a lot more money. Please read on to see that we have included examples of reviews found on the website. Spoiler alert- people like it.
Summary- Is AudaCity Capital A Scam?
In summary, AudaCity Capital is not a scam. From what we’ve found through our research, the prop firm is an excellent choice when considering a progression to funded accounts. Compared to other prop firms, they have a great reputation, alongside really impressive scaling opportunities that make it a great choice of funding options for traders.
AudaCity offers a really nice personal feel with their company which is always great when you have so many prop firms that are based purely online without any face to face interaction. To sum it up, we highly recommend this prop firm, and from what it seems on Trustpilot, so does everyone else!
If you have any experience with this prop firm funding please do drop a comment below so we can hear your opinion. Likewise if you are interested in seeing the reviews of the other Top Prop Firms in the industry, feel free to read our rankings.