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Comparison · Futures

Alpha Futures and Phoenix Trader Funding at a glance

See the field-by-field table Compare with another firm

Updated on

Alpha Futures View profile 50% off
Phoenix Trader Funding View profile 40% off

The short answer

Alpha Futures is the choice for traders seeking same-day payouts and high-tier "Advanced" plans without daily drawdown. Phoenix Trader Funding excels in providing the lowest market entry costs ($44 Spark accounts) and a transparent path to real brokerage capital via their Merit program.

Where they actually differ

  • Risk Rules (Risk): Alpha’s Advanced plan is one of the few in the industry with no daily drawdown, whereas all Phoenix plans (except Merit) lack a daily limit but apply trailing drawdowns. Phoenix Merit uses a static drawdown, while Alpha Direct uses a daily loss limit.
  • Payout Speed and Terms (Payouts): Alpha offers a same-day payout guarantee. Phoenix takes 2 to 3 business days to process. Additionally, Phoenix Classic and Daily plans require a locked "buffer" equal to the maximum drawdown that cannot be withdrawn, a restriction not present in Alpha’s structure.
  • News Trading (Styles): Phoenix allows news trading across all stages and plans. Alpha restricts news trading (2 minutes before and after high-impact events) on its Zero, Standard, and Direct Qualified accounts, only permitting it on Evaluation and Advanced Qualified accounts.
  • Platforms (Platforms): Phoenix offers a significantly wider range, including NinjaTrader, Tradovate, and ATAS (via their Thor/TFeed or dxFeed). Alpha focuses on a smaller suite: AlphaTrader, TradingView, and Quantower.
  • Entry Price (Price): Phoenix has a much lower barrier to entry with its $10K Spark account at $44. Alpha’s cheapest entry is the $25K Zero plan at $89. However, Alpha offers "Direct" accounts (instant funding) starting at $349, while Phoenix’s equivalent (Merit) is a 30-day evaluation.

Where they are basically the same

  • Assets: Both focus exclusively on Futures (CME/EUREX indexes, metals, currencies, and energy).
  • Profit Split: Both firms offer a top-tier 90% profit share to the trader.
  • Brokerage: Both use specialized futures data feeds and execution environments (ACG Markets for Alpha; TFeed/dxFeed/Rithmic for Phoenix).
  • Consistency: Both apply consistency rules (usually 40% to 50%) to ensure sustainable trading behavior before payouts.

Pick this one if

Alpha Futures

  • You want your money the same day you request it.
  • You prefer trading without a daily drawdown limit (Advanced Plan).
  • You want to skip the evaluation phase entirely via a Direct account.

Phoenix Trader Funding

  • You are looking for the cheapest possible account to start ($44).
  • You trade high-impact news and don't want restrictions.
  • You want to use NinjaTrader or Tradovate.
  • Your end goal is trading real capital in a live brokerage account (Edge Clear).

Frequently asked questions

Which firm is cheaper for a beginner, Alpha Futures or Phoenix Trader Funding?

Phoenix Trader Funding is significantly cheaper for beginners. They offer the "Spark" account starting at $44 for a $10,000 size. In contrast, the cheapest entry at Alpha Futures is the $25,000 "Zero" plan, which costs $89 per month.

Can I trade the news on both Alpha Futures and Phoenix Trader Funding?

There is a major difference: Phoenix Trader Funding allows news trading without restrictions on all accounts and stages. Alpha Futures only allows it during evaluations and on "Advanced" funded accounts; if you hold a Zero, Standard, or Direct funded account at Alpha, you are prohibited from placing orders 2 minutes before and after high-impact news.

Who pays out faster, Alpha Futures or Phoenix Trader Funding?

Alpha Futures is faster, offering a "same day" payout guarantee. Phoenix Trader Funding typically takes 2 to 3 business days to process requests. Additionally, Alpha has a lower minimum withdrawal for its Zero accounts ($200) compared to Phoenix's standard minimum ($75), although Phoenix Merit accounts allow withdrawals from $1.

Which firm offers NinjaTrader and Tradovate, Alpha Futures or Phoenix Trader Funding?

Only Phoenix Trader Funding supports NinjaTrader and Tradovate through their TFeed/Thor connection. Alpha Futures does not support these platforms, limiting its users to AlphaTrader, TradingView, Quantower, WealthCharts, and Deepcharts.

Field by field

Alpha Futures and Phoenix Trader Funding, side by side

Rules, plans, platforms, leverage, commissions and payouts of both, with the option to see only what differs.

Head to head

49 differences

Alpha Futures
View profile Official site
50%off
Phoenix Trader Funding
View profile Official site
40%off · Exclusive
Headquarters

1 Allied Business Centre, Coldharbour Lane, Harpenden, England, AL5 4UT

Paris

CEO

Andrew Blaylock & George Kohler

Léon Grimm

Country

United Kingdom

France

Foundation

2023

2023

Banned Countries
Afghanistan, Albania, Belarus, Bosnia and Herzegovina, Bulgaria, Burkina Faso (Upper Volta), Burma/Myanmar, Chad, China, Côte d'Ivoire, Croatia, Cuba, Democratic Republic of Congo, Djibouti, East Timor, Guinea-Bissau, Ethiopia, Haiti, Iran, Iraq, Jamaica, Jordan, Kenya, Kosovo, Kyrgyzstan, Laos, Lebanon, Lesotho, Libya, Malawi, Malaysia, Mali, Montenegro, Mozambique, Namibia, Nigeria, North Korea, North Macedonia, Northern Cyprus, Palestinian Territory, Pakistan, Philippines, Romania, Russia, Rwanda, Senegal, Serbia, Sierra Leone, Slovenia, Somalia, South Sudan, Sudan and Darfur, Syria, Tajikistan, Tanzania, Turkey, Ukraine, Venezuela, Vietnam, Yemen, Zimbabwe
Afghanistan, Armenia, Belarus, Bosnia and Herzegovina, Burma (Myanmar), Burundi, Central African Republic, Cuba, Egypt, Eritrea, Ethiopia (certain sectors), Georgia (specific territories), Guinea, Haiti, Iran, Iraq, Ivory Coast, Kosovo, Lebanon, Libya, Mali, Nicaragua, North Korea, Russia, Somalia, South Sudan, Sudan, Syria, Tunisia, Turkey, Ukraine (Crimea, Donetsk, Luhansk, Kherson, Zaporizhzhia), Venezuela, Yemen, Zimbabwe
Assets
Equity Indexes, Currencies, Metals, Commodities, Crypto, Rates
Indices, Currencies, Metals, Energies, Agriculture, Interest Rates, Crypto
Brokers
ACG Markets
TFeed, dxFeed, Rithmic, Edge Clear
Payout Fee
No data

Merit Live: Phoenix covers the processor fee on withdrawals above $500.

Platforms
AlphaTrader, TradingView, WealthCharts, Quantower, Deepcharts
Odin, Quantower, ATAS, Volumetrica, DeepCharts, DeepDOM, NinjaTrader, Tradovate, TradingView, Sierra Chart, MultiCharts, Jigsaw, Bookmap, MotiveWave, Investor/RT, Tiger.Trade, Overcharts, Volfix, Optimus Flow, Photon, Inside Edge Trader, QScalp, Agena Trader
Payout Methods
ACH, Wire Transfer, SWIFT, Wise, Rise
Payoneer, Wise, PayPal
Live Account
Yes

Qualified traders may be selected to trade real capital through the Alpha Futures Live Program or Alpha Prime. Live accounts offer daily uncapped withdrawals, no consistency rule and no news-trading restrictions.

Yes

Live Funded account at EdgeClear on Rithmic. Classic and Spark: after 4 payouts. Daily: once $1,200/$3,000/$6,000 has been paid (Seed/Starter/Growth). Merit: straight to Live on approval. Risk review required; if not passed, the pre-funded payout limit may be extended instead. Live amount: Classic $1,250/$2,000/$3,500; Spark $400/$1,000; Daily $500/$1,250/$2,000; Merit $2,000. Static drawdown, daily limit agreed with the trader, and every rule waived except overnight and over-week positions. Other funded accounts go dormant on transfer.

Payment Methods
Card, Crypto
Card, Crypto
Payout Frequency
  • Zero, Standard and Advanced: Up to 4 times per month after 5 winning trading days of $200 or more
  • Direct: Up to 4 times per month after meeting its Withdrawal Profit Target and 20% consistency rule

Classic: weekly, first payout after 5 trading days and then every 5. Spark: bi-weekly, first payout after 5 trading days. Daily: any trading day once profit matures (3 trading days; 5 for a day above 30% of total profit and above the tier's daily cap). Merit Live: any time, up to 10 per day. Processing: 2 to 3 business days.

Payout Guarantee

Same day

No data
Maximum Withdrawal
  • Advanced: $15,000 per account
  • Zero 25K: $1,000
  • Zero 50K: $1,500
  • Zero 100K: $2,500
  • Standard 50K: $3,000
  • Standard 100K: $4,000
  • Standard 150K: $5,000
  • Direct 25K: $1,000
  • Direct 50K: $2,000
  • Direct 100K: $2,500
  • Direct 150K: $3,000

Per payout: Classic $600/$1,000/$2,000 (Starter/Growth/Scale); Spark $300/$400 (Seed/Starter). Daily: $200/$500/$1,000 per trading day (Seed/Starter/Growth), with $1,000 per day per trader across all Daily accounts. Merit Live: no maximum. PayPal: $2,000 per month.

Minimum Withdrawal
  • Zero: $200
  • Standard: $500
  • Advanced: $1,000
  • Direct: $500

Classic and Daily: $75. Spark: $30 (Seed) or $75 (Starter). Merit Live: $1.

Other Payout Requirements
No data

After passing: review of up to 72 hours, then KYC and Pre-Funded contract within 48 hours. The trailing drawdown locks at the starting balance on the first payout. Every denied payout comes with a written reason from the risk team. No crypto payouts.

Commission
No data

Per contract and side on TFeed; dxFeed is double. ES, NQ, RTY and YM $1.09; MES, MNQ, M2K and MYM $0.35; CL $1.15; MCL $0.43; GC $1.20; MGC $0.43; NG $1.20; 6E $1.20; ZN $0.80; ZB $0.83; BTC $3.38; MBT $1.38. Same rates on every line, in evaluation and funded.

Account Reset

Evaluation Resets

Evaluation reset prices are shown in each challenge. Paying the next monthly subscription also resets an Evaluation.

 

Qualified Resets

Available after a breach on Zero and Standard Qualified accounts.

Plan 25K 50K 100K 150K
Zero $399 $499 $799 —
Standard — $599 $799 $999

Classic, Daily and Spark: unlimited, by paying the fee or with reset coupons (one per month the challenge stays alive; they stack and never expire). Classic: a failed account is reset free at renewal. Merit: no reset.

Add-ons
Yes
  • Level 2 (Depth of Market) Data for all exchanges: $41/month per user
  • EUREX DOM data: $23 per month
Yes

Performance Review (+20% on the price): 20 to 30 page report on the trader's own trades. Free ATAS licence with dxFeed.

Instant
Yes
No
One Step
Yes
Yes
Account scaling
No data
Limited

Scaling beyond the Classic plan on request, after a full review of the trades.

Max Drawdown
  • EOD trailing on every plan
  • Locks at the starting balance
  • Does not reset after a performance fee

Classic and Daily: end-of-day trailing in evaluation and funded. Spark: end-of-day trailing in evaluation and real-time trailing once funded. The trailing drawdown locks at the starting balance. Merit: static, the whole $2,000 balance. Live: static.

Free Trial
No
No data
Daily Drawdown
  • Advanced: none
  • Zero: applies in Evaluation and Qualified; hitting it locks the account until the next trading day
  • Standard: none in Evaluation; applies once Qualified
  • Direct: applies from day one

Classic, Daily and Spark: none. Merit: 25% dynamic (soft breach). Live: agreed with each trader based on their results.

Max Allocation
  • Zero, Standard and Direct: up to 5 Qualified accounts
  • Advanced: up to 3 Qualified accounts; an active Advanced Qualified account limits the user to 3 total
700,000
Mandatory buffer
No
Limited

Classic and Daily: a locked buffer equal to the maximum drawdown stays in the account and is not withdrawable. Spark and Merit: none.

Merge Accounts
No
No data
Maximum Trading Days
No data

No deadline. Spark closes after 90 days without a trade. Merit: 30 calendar days.

Minimum Trading Days
  • Zero (Evaluation): 1 day
  • Standard (Evaluation): 2 days
  • Advanced (Evaluation): 3 days
  • Zero, Standard and Advanced Qualified: 5 winning days of $200 or more before each performance fee
  • Direct: no minimum trading days; withdrawals require its profit target and 20% consistency rule

Classic and Daily: 2. Spark: 1. Merit: none; the challenge lasts 30 calendar days.

Funded Phase Pricing Model

No activation fee on any plan. Direct is paid once; Zero, Standard and Advanced charge monthly only during Evaluation.

No monthly fee on funded accounts. Activation: $29 one-time on Spark; $0 on Classic, Daily and Merit. Live: CME professional data at $135/month per exchange, deducted from the account.

Points Reward Program
No data

Phoenix Extra: PHX earned for ideas and ambassador work, usable on accounts, resets and activation fees. Not convertible to cash.

Minimum Profitable Days

Zero, Standard and Advanced require 5 winning days with at least $200 profit each before every performance fee request. Direct requires its Withdrawal Profit Target and 20% consistency rule.

Classic: 5 days between payouts with at least $100/$200/$300 profit (Starter/Growth/Scale). Spark: 5 days with at least $40 (Seed) or $100 (Starter). Daily and Merit: none.

Position size scaling
Yes

The scaling plan limits maximum position size according to accumulated profit. Zero 25K has no scaling plan; Advanced and Direct have no scaling plan.

 

Zero Qualified

Profit 50K minis 50K micros 100K minis 100K micros
Less than $1,500 1 10 2 20
$1,500-$2,000 2 20 3 30
$2,000-$3,000 3 30 4 40
$3,000-$4,500 — — 5 50
$4,500+ — — 6 60

 

Standard Qualified

Profit 50K minis 50K micros 100K minis 100K micros 150K minis 150K micros
Less than $1,500 2 20 3 30 3 30
$1,500-$2,000 3 30 4 40 4 40
$2,000-$3,000 5 50 5 50 5 50
$3,000-$4,500 5 50 10 100 10 100
$4,500+ 5 50 10 100 15 150
Limited

Classic: the contract limit rises with profit at $1,000, $2,000 and $4,000 up to the account maximum, in evaluation and funded, and drops if profit falls back. Spark, Daily and Merit: full size from day one. Live: one extra mini per $2,000 of profit.

Evaluation Phase Pricing Model

Zero, Standard and Advanced use a monthly Evaluation fee. Direct is one-time.

Classic: monthly subscription every 30 days, cancelled automatically on passing; dxFeed adds $20/month. Daily, Spark and Merit: one-time payment. No refunds.

Profit Split
No data

Classic and Spark: 90%. Daily: 80%. Merit: 50% until the trader has withdrawn twice the starting balance, then 80%.

Maximum Accounts
No data

Unlimited challenges. Pre-funded: 5 on TFeed (up to 3 Spark, 3 Daily, 3 Classic Growth or Scale and 5 Classic Starter) and 3 on dxFeed. Live: up to 5, at Phoenix's discretion. Merit: one attempt; another requires buying a Classic or Daily account first.

Expert Advisor (EA)
No
No

HFT and bots that trade without the trader are prohibited. Tools that assist the trader (hotkeys, DOM, alerts) are allowed.

VPN
No
Yes

VPN, VPS and proxy allowed; sessions are monitored and identity documents may be requested.

Hedging
No
No

Opposite positions on the same asset across accounts, own or someone else's.

Requires Stop Loss
No
No data
Scalping
Limited

Tick or micro scalping is prohibited when trades repeatedly last less than 2 minutes and move less than 10 ticks. There is no universal minimum holding time.

Yes

No minimum trade duration.

Stacking / Layering (DCA)
Limited

Reasonable DCA is allowed. Excessive order stacking or order-book spamming intended to exploit simulated fills is prohibited.

No

Rotating through accounts, each risked in full on the same bet until one hits, is prohibited. Holding several accounts is allowed.

Martingale
No data
Limited

Allowed within a single account, also DCA. Prohibited across accounts.

Maximum Risk Limit
No
No data
Copy Trading
Limited

Permitted only when one user copies trades across accounts held in that same person's name. Automated, group and reverse trading remain prohibited.

Yes

Same direction across the trader's own accounts. Thor is included with TFeed.

News Trading
Limited
  • All Evaluation accounts: no news-trading restrictions
  • Advanced Qualified: no news-trading restrictions
  • Direct, Standard and Zero Qualified: no orders within 2 minutes before or 2 minutes after high-impact news
Yes

Including Tier 1 releases, at every stage.

Inactivity Rule

10 trading days

Pre-funded: one trade every 7 calendar days, otherwise the account closes without a payout. Live: 30 days, not applied mechanically. Challenges: none, except Spark (90 days).

Consistency Rule
Yes
  • Zero: no Evaluation consistency rule; 40% on Qualified accounts
  • Standard: 50% in Evaluation; 40% on Qualified accounts
  • Advanced: 40% in Evaluation; none on Qualified accounts
  • Direct: 20% between performance fee requests
Limited

Classic and Daily evaluations: best day up to 50% of total profit; exceeding it only delays passing. Spark funded: 30%. No rule on Classic and Daily funded, Spark evaluation or Merit.

Hold Weekend
No
No
Prohibited Strategies
  • All or Nothing Approach
  • Order Book Spamming
  • Tick or Micro Scalping
  • Exploiting Absence of Slippage / Favorable Fills
  • Multiple Limit Orders at Same Price
  • Gambling Tendencies / Account Rolling (Account Stacking)
  • Reverse Trading / Hedging
  • Trading Illiquid or Gapped Markets for Isolated Fills
  • Non-Compliance with CME Group Rules
  • Group Trading (Collaborative Trading)

Hedging between accounts, account rolling, martingale or loss recovery across accounts (also at other firms) and HFT or bots. On funded accounts: flipping and one-tick trading on bonds. Stop trading a contract within 2% of its CME daily price limit.

Overnight positions
No
No

Positions must be closed before the session ends, at every stage including Live. Breach: funded account denied, or payout denied and account closed.
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