What you are signing up for
A prop firm evaluation is a test where you trade with simulated money to prove you are a disciplined trader. If you reach the profit target—a specific amount of money you must earn—without breaking any rules, you get access to a professional account and keep a share of the profits.
Alpha Futures offers four main paths: Zero, Standard, Advanced, and Direct. Most involve a monthly subscription fee during the evaluation phase, which means you pay every 30 days until you pass. AquaFunded Futures offers plans like Daily, Flex, and One Step Standard. Many of AquaFunded's plans use a one-time fee, meaning you pay once and there are no recurring monthly costs while you are taking the test. Neither firm offers a free trial version.
How hard each one is
The biggest hurdle is the drawdown, which is the maximum amount of money you are allowed to lose before the account is closed.
Alpha Futures uses a "trailing EOD" (End of Day) drawdown. This means the limit follows your account balance upward, but only updates at the end of the trading day based on your highest balance. It eventually "locks" at your starting balance, so once you are far enough in profit, you cannot lose your initial capital.
AquaFunded Futures also uses EOD drawdown for most plans. This is generally easier for beginners than "intraday trailing" (which moves up in real-time) because it ignores the fluctuations that happen during the day. For a $50,000 account, Alpha's Advanced plan gives you a $1,750 margin of error, while AquaFunded’s One Step gives you a slightly larger $2,000 margin.
How long it takes
You cannot pass these tests instantly; you must trade for a certain number of days to prove your results aren't just luck.
- At Alpha Futures, you need at least 1 trading day for the Zero plan, 2 days for Standard, and 3 days for Advanced.
- At AquaFunded Futures, the One Step Standard plan has no minimum trading days, meaning you could technically pass in a single day if you hit the target. However, their Flex plans require 5 or 6 winning days.
There is no maximum time limit to pass the evaluation at either firm as long as the account remains active.
Where beginners fail
Most beginners lose their accounts because of two rules: consistency and news trading.
The consistency rule means that no single trading day can account for too much of your total profit. At Alpha Futures, the rule is usually 40% or 50%. This prevents "gambling" on one lucky trade. AquaFunded has similar rules, ranging from 20% to 50% depending on the plan.
News trading involves opening or closing trades during major economic announcements. Alpha Futures is strict: on most professional accounts, you cannot place orders 2 minutes before or after high-impact news. AquaFunded is more relaxed and generally allows news trading across its plans. If you don't want to track an economic calendar every day, Alpha might be harder for you.
What happens if you make it
If you pass, both firms offer a 90% profit split, meaning you keep $90 of every $100 you earn.
Alpha Futures is known for very fast payouts, often on the same day. They have minimum withdrawal amounts (like $500 for Standard accounts) and maximum caps per withdrawal period during the early stages.
AquaFunded Futures offers a "24-hour guarantee": if they don't pay your approved withdrawal within 24 business hours, they pay you an extra $500. They also deduct a $35 processing fee from your first withdrawal each month. Both firms allow you to trade on popular platforms like TradingView or Quantower.
If it is your first time
AquaFunded Futures is slightly more beginner-friendly because of its "One Step Standard" plan. It features a one-time fee instead of a monthly subscription, has no minimum trading days, and allows you to trade during news events without fear of disqualification.
Alpha Futures is an excellent choice if you value speed of payment and a more structured environment, but it requires more discipline regarding news calendars and has recurring monthly costs during the evaluation that can add pressure to a new trader.
Frequently asked questions
Which firm is cheaper for a first $50,000 evaluation, Alpha Futures or AquaFunded Futures?
AquaFunded Futures is generally more cost-effective because its $50,000 One Step Standard account costs $160 as a one-time fee. In contrast, Alpha Futures' $50,000 Standard plan costs $129 per month. If it takes you more than 30 days to pass the evaluation, Alpha Futures will charge you again, making it more expensive than the single payment at AquaFunded.
Does Alpha Futures or AquaFunded Futures have more restrictive rules for trading during economic news?
Alpha Futures is more restrictive because it prohibits placing orders 2 minutes before and 2 minutes after high-impact news on its Direct, Standard, and Zero Qualified accounts. AquaFunded Futures, on the other hand, generally allows news trading across its various plans, making it easier for traders who do not want to worry about the economic calendar.
Which firm offers faster withdrawals to its traders, Alpha Futures or AquaFunded Futures?
Both are industry leaders in speed, but they use different systems. Alpha Futures offers "same day" payout guarantees for its traders. AquaFunded Futures guarantees processing within 24 business hours and has a unique policy where they pay the trader an additional $500 if they fail to meet this 24-hour deadline.
Between Alpha Futures and AquaFunded Futures, which one has a shorter minimum trading period to pass?
AquaFunded Futures is faster for the evaluation phase because its One Step Standard plan has 0 minimum trading days, allowing you to pass as soon as you hit the profit target. Alpha Futures requires at least 1 to 3 trading days depending on the plan (Zero, Standard, or Advanced) before you can move to the qualified stage.
