Audacity Capital Review (discount code: forexpropreviews)
4.0

Audacity Capital Review (discount code: forexpropreviews)

The prop firm has earned several awards, including the International Investor Award Winner 2020, and has been seen on a variety of media such as the Daily Mail and The Europe Financial Review.
Home » Audacity Capital Review (discount code: forexpropreviews)

With a self-proclaimed mission to empower traders, AudaCity Capital is a prop firm based out of London offering funding accounts up to $500k

Pros
  • No evaluation challenge
  • Excellent Trustpilot rating of 4.7/5
  • Up to $500,000 capital
  • Scaling plan
  • No time limit on your scaling plan
  • Overnight holding allowed (Monday - Friday)
  • Fixed absolute drawdown of 10%
  • Excellent customer support
  • Trading guides
  • A profit target of 10% doubles your account and allows you to request a withdrawal
Cons
  • No free trial
  • Weekend holding and new trading not allowed
  • Profit split 50%
  • Monthly platform fees

Audacity Capital encourages its traders to succeed in their careers. They enable them to earn more profits by trading up to $500,000 in balance. To become funded, you must pass their 3-step assessment phase, which differs from regular proprietary firm challenges, or by completing a two-step evaluation challenge. Upon successful completion, you are rewarded with 50% or 75% profit splits on your earnings, depending on the funding program you opt for.

Who are Audacity Capital?

Audacity Capital is a proprietary trading firm founded in 2012 with the idea to help traders prosper, while the official incorporation of the firm took place on the 28th of January, 2014. Their headquarters are located in the UK, London. They offer their clients a chance to work with up to $480,000 capital. They are partnered with an institutional liquidity provider that allows them to benefit from deep liquidity in the market with no commissions or swaps on trades and tight spreads.

Their headquarters are located at The Frames 1 Phipp Street, London EC2A 4PS England – United Kingdom.

Funding program options

Audacity Capital offers its traders two different funding programs to choose from:

  • Funded Trader Program
  • Ability Challenge

Funded Trader Program account

Audacity Capital’s funded trader program is a unique funding program that has an assessment phase made out of three steps. The funded trader program allows you to trade with 1:5 leverage.

Step one requires a trader to apply for the funded trader program by filling up a form. They will ask you questions regarding your trading experience and strategy.

Step two is an interview. If you are based in London, you will be able to have a face-to-face interview on their trading floor, however, if you aren’t from London, you can have an interview by phone so they find out more about your trading experience.

Step three of the funded trader program will be receiving the results. You will receive your results within 24 hours if you have been approved. If approved, they will send you the contract for you to sort out the paperwork. They will also send you your account credentials, your trading account will be funded, and just like that, you will be able to start trading after you make a payment of the one-time joining fee of £298, and a monthly fee of £99.

By completing all three steps, sorting out the paperwork, and paying the two fees, you will be able to start trading on your $15,000 account and generating profits. Your main rule will be the 10% maximum loss, while you have no minimum or maximum trading day limitations. You will be able to withdraw your profits every time you hit your profit target of 10%. Your profit split will be 50% based on the profit you make on your funded account.

Funded Trader Program account scaling plan

The funded trader program account also has a scaling plan. You are required to reach a profit target of 10% which will allow you to withdraw your profit split and double your account balance.

Account stageAccount size
First stage$15,000
Second stage$30,000
Third stage$60,000
Fourth stage$120,000
Fifth stage$240,000
Sixth stage$480,000

Trading instruments for the funded trader program are forex pairs. You will additionally be able to request permission to trade commodities and indices after scaling your account to $120,000.

Funded Trader Program account rules

  • Profit target is a specific percentage of profit that a trader is required to obtain before they can complete an evaluation phase, withdraw profits, or scale their account. You have a profit target of 10% which is required for scaling and for you to request your withdrawal.
  • Maximum loss is the maximum loss a trader can reach overall before the account is violated. The maximum loss limit is 10%.
  • Lot size limit requires traders to follow specified lot sizes for specific trading instruments. These are most usually set based on the initial account balance of the prop firm account.
  • No news trading means that traders are not allowed to trade during high-impact news releases.
  • No weekend holding means that traders are not allowed to hold open positions during the weekends. Note that weekend holding is available on request.

Ability challenge accounts

Audacity Capital’s ability challenge account aims to identify consistent and disciplined traders, who are rewarded for their consistency in the two-phase evaluation period. The ability challenge allows you to trade with 1:100 leverage.

Account sizePrice
$15,000£149
$30,000£269
$60,000£369
$120,000£629

Ability challenge phase one requires a trader to reach a profit target of 10% while not surpassing their 7.5% maximum daily loss or 15% maximum loss rules. You are required to trade for a minimum of 7 calendar days and hit your profit target within 30 calendar days from the day you place your first position on your ability challenge account.

Ability challenge phase two requires a trader to reach a profit target of 10% while not surpassing their 5% maximum daily loss or 10% maximum loss rules. You are required to trade for a minimum of 7 calendar days and hit your profit target in 60 calendar days from the day you place your first position on your ability challenge account.

By completing both ability challenge phases you are awarded a funded account where you have no profit targets. You are only required to respect the 5% maximum daily loss and 10% maximum loss rules. Your first payout is 30 calendar days from the day you place your first position on your funded account. In this time period, you are required to trade a minimum of 7 calendar days while trading with consistent lot sizes. You profit split will be 75% based on the profit you make on your funded account.

Ability challenge account scaling plan

The ability challenge accounts have no scaling plan, however, you are able to join the Funded Trader Program where you will be able to scale your capital up to $480,000.

Trading instruments for the ability challenge accounts are forex pairs, commodities, and indices.

Ability challenge account rules

  • Profit target is a specific percentage of profit that a trader is required to obtain before they can complete an evaluation phase, withdraw profits, or scale their account. Phase one profit target is 10% while phase two has a profit target of 5%. Funded accounts have no profit targets.
  • Maximum daily loss is the maximum loss a trader can reach on a daily basis before the account is violated. The maximum daily loss limit is 7.5% in phase one, 5% in phase two, and 5% on your funded account.
  • Maximum loss is the maximum loss a trader can reach overall before the account is violated. The maximum loss limit is 15% in phase one, 10% in phase two, and 10% on your funded account.
  • Minimum trading days is the minimum period which you are required to trade for before you can complete an evaluation phase, or request a withdrawal. Both ability challenge phases as well as the funded account have a 7 minimum trading day requirement.
  • Maximum trading days are the maximum period in which you are required to hit a specific profit target or withdrawal target. Phase 1 has a maximum of 30 trading days period while phase 2 has a maximum of 60 trading days period.
  • No news trading means that traders are not allowed to trade during high-impact news releases. You can trade news only during both ability challenge phases.
  • No weekend holding means that traders are not allowed to hold open positions during the weekends. Note that weekend holding is available on request. You can hold positions over the weekend only during both ability challenge phases.
  • The consistency rule is a rule that requires traders to have consistent position sizes, risk management, losses, gains, etc… Meaning that the characteristics of the account results should not differentiate drastically.

Note that Audacity Capital’s Funded Trader Program (three-phase assessment) and Ability Challenge (two-step challenge) each have their own website.

What makes Audacity Capital different from any other prop firm?

Audacity Capital differs from most industry-leading prop firms due to offering two different funding programs: Funded Trader Program and Ability Challenge account. They also have straightforward rules with minimal limitations for the trader to follow.

Compared to other proprietary trading firms, Audacity Capital offers a unique Funded Trader Program that requires a three-step assessment that requires an interview with the trader so they can determine if he is qualified to manage the firm’s capital. The profit target of the Funded Trader Program is 10% which allows the trader to request a withdrawal and double his account balance.

Audacity Capital’s ability challenge is a two-phase evaluation program that requires traders to complete two phases before being eligible for payouts. The profit target is 10% in phase one and 5% in phase two with a 7.5% maximum daily and 15% maximum loss rules in phase one and 5% maximum daily and 10% maximum loss rules in phase two. You are also required to trade for a minimum of 7 days in each phase before becoming funded. The ability challenge, however, doesn’t have a scaling plan. Compared to other industry-leading prop firms they have average profit targets and minimum trading days.

Example of comparison between Audacity Capital & FundedNext

Trading objectivesAudacity CapitalFundedNext
Phase 1 profit target10%10%
Phase 2 profit target5%5%
Maximum daily loss7.5% in phase 1
5% in phase 2
5%
Maximum loss15% in phase 1
10% in phase 2
10%
Minimum trading days7 calendar days5 calendar days
Profit split75%80% up to 90%

Example of comparison between Audacity Capital & True Forex Funds

Trading objectivesAudacity CapitalTrue Forex Funds
Phase 1 profit target10%8%
Phase 2 profit target5%4%
Maximum daily loss7.5% in phase 1
5% in phase 2
5%
Maximum loss15% in phase 1
10% in phase 2
10%
Minimum trading days7 calendar daysNo minimum trading days
Profit split75%80%

Example of comparison between Audacity Capital & E8 Funding

Trading objectivesAudacity CapitalE8 Funding
Phase 1 profit target10%8%
Phase 2 profit target5%5%
Maximum daily loss7.5% in phase 1
5% in phase 2
5%
Maximum loss15% in phase 1
10% in phase 2
8%
Minimum trading days7 calendar daysNo minimum trading days
Profit split75%80%

In conclusion, Audacity Capital is different from other industry-leading prop firms by offering two different funding programs. In addition, they also have straightforward rules with minimal limitations for the trader to follow.

Is getting Audacity Capital funds realistic?

It’s essential to see how realistic the trading requirements are when looking at prop firms that best suit your forex trading style. For example, a company offering a high % profit split on a highly funded account sounds great, but if they expect high % gains per month with low % maximum drawdowns, your chances of success become close to zero.

Receiving capital from the Funded Trader Program is also realistic if you are an experienced trader since all you have to do is introduce your track record and your trading strategy to them in an interview. After that, you have a chance to get approved and funded with no additional challenges to pass.

Receiving capital from the Ability Challenge is realistic mostly since they have average profit targets (10% in phase one and 5% in phase two) with above-average maximum loss rules (Phase 1: 7.5% maximum daily and 15% maximum loss; Phase 2: 5% maximum daily and 10% maximum loss).

After considering all of that, Audacity Capital is an excellent choice to get funded since you have two different funding programs you can choose from that have realistic trading objectives to follow and conditions to receive payouts.

Payment proof

Audacity Capital was founded in 2012 and incorporated on the 28th of January, 2014.

You can see payment proof mostly on their Youtube channel, where they interview profitable traders. You can see two examples of videos below:

Which broker does Audacity Capital use?

Audacity Capital doesn’t trade with common broker brands. They are partnered with an institutional liquidity provider that allows them to benefit from deep liquidity in the market with no commissions or swaps on trades and tight spreads.

As for trading platforms, you are allowed to trade on MetaTrader 4.

Trading instruments

Audacity Capital allows its traders to trade forex majors and minors. Commodities and indices are not allowed until you prove yourself and get approved by their team.

FOREX:AUDUSDEURUSDGBPUSDNZDUSDUSDCAD
USDCHFUSDJPYAUDCADAUDCHFAUDJPYAUDNZD
CADCHFCADJPYCHFJPYEURAUDEURCADEURCHF
EURGBPEURJPYEURNZDGBPAUDGBPCADGBPCHF
GBPJPYGBPNZDNZDCADNZDCHFNZDJPY

Trading fees

Trading commission:

AssetsFee terms
FOREX 5 USD / LOT
COMMODITIES 5 USD / LOT
INDICES 5 USD / LOT

Spread:

In order to check the live spreads login to the trading account below:

PlatformServerLogin numberPasswordDownload platform
MetaTrader 4AudaCity-DEMO1108999452ke2aFfYClick here

Education & Support for traders

Audacity Capital has a trading guides section on their website, which you can reach by clicking here. You can learn about trading strategies, currency pairs, and forex tools there, which will give you general knowledge and help you in your trading career.

While they don’t have their own thread on ForexFactory, you can find information on another thread named ‘’PROP FIRM HUB’’ made by MasterrMind, where Audacity Capital also gets mentioned numerous times.

To see the mentioned thread click here.

Traders’ comments about Audacity Capital

Audacity Capital has excellent feedback from their reviews.

On Trustpilot, they have a large variety of their community commenting and giving positive feedback with an excellent score of 4.8/5 out of 675 reviews. They also have a fast and reliable support team that will provide you with all the necessary information you require from them or if you are unsure of anything.

A vast majority of their community praises their customer service for being extremely fast and helpful. They give their clients all the necessary support to ensure them the best possible conditions to succeed.

Another comment stated that they offer excellent trading conditions with low spreads, an attractive scaling plan of up to $500,000, and rules to follow that will help you manage risk appropriately.

Social media statistics

Audacity Capital can also be found on social media.

They have a:

  • Facebook page with 6,341 followers,
  • Twitter account with 2,736 followers,
  • LinkedIn page with 2,704 followers,
  • Instagram account with 8,893 followers, and
  • Youtube channel with 4,27k subscribers and 666 uploaded videos.

Support

Audacity Capital has a FAQ page where you might find the missing information.

The support team is available on their social media, or you can directly contact them by submitting a request on their website by clicking here

You can also directly contact them by email: support@audacitycapital.co.uk.

Another option you can reach them is by phone calls on the following number: +44 20 8050 1985.

Conclusion

In conclusion, Audacity Capital is a legitimate proprietary trading firm offering live funding to traders after checking their past track record performances. After getting approved and funded, you are required to pay a one-time fee and a monthly platform fee to work with a $15,000 capital.

The Funded Trader Program is a three-step assessment that requires an interview with the trader so they can determine if you are qualified to manage the firm’s capital. The profit target of the Funded Trader Program is 10% which allows the trader to request a withdrawal and double his account up to a maximum balance of $480,000.

The Ability Challenge is an industry-standard two-phase evaluation challenge that requires the completion of two phases before becoming funded and being eligible to earn profit splits. Audacity Capital requires traders to reach profit targets of 10% in phase one and 5% in phase two before becoming funded which are realistic trading objectives considering you have a 7.5% maximum daily and 15% maximum loss rules in phase one and a 5% maximum daily and 10% maximum loss rules to follow. With evaluation programs, you can earn 75% profit splits while also being able to scale your accounts up to a maximum balance of $480,000.

I would recommend Audacity Capital to anyone who is looking for a legitimate, well-established prop firm with straightforward rules with minimal limitations. After considering everything Audacity Capital has to offer, they are for sure one of the better proprietary trading firms in the industry.

This review about Audacity Capital was lastly updated on 26.08.2022 at 10:02 (CE(S)T).

So, what do you think about the layout of the Proprietary Trading firm? Does Audacity Capital have the instruments that you want to trade?

Let us know if you enjoyed our Audacity Capital Trading firm review!

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Audacity Capital Review (discount code: forexpropreviews) Details

Trading platform
Deposit Methods
Withdrawal Methods
Account Size
Tradable instruments
Account Currencies
Leverage
Maximum capital allocation
Account size:
$15,000
Discount code: forexpropreviews
*Apply for an account and make a payment
4.0
Fees
4.0
Trading platform
4.0
Deposit and withdrawal
4.0
Customer Support
4.0 Overall Rating

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