AudaCity Capital

Who they are:

A proprietary firm thats’ vision, is to empower self-proclaimed traders. – Nice.
Founded in 2012, AudaCity Capital funds traders with accounts of up to $500,000. Yep, you read right, half a million dollars. – Insane.
The company has over 5000 funded traders with some extremely attractive packages on offer! AudaCity capital has made headlines in the top media such as The Europa Financial Review, CNBC, and the Daily Mail.

What they offer:

AudaCity Capital offers live funded accounts with a profit split of 50%, and a max drawdown of 10%. – You are not liable for losses.

What is rather interesting, is the fact that they offer live funded accounts within 24 hours, should you get approved. How you get approved is even more interesting! A face-to-face interview at their trading floor, (if you are based in London) or a phone call, just to find out a little bit about your trading history.- No demo accounts, no challenges. – Sick!

Should you get approved, you will be starting on a $15,000 account. This will cost you a once-off joining fee of £199, as well as a monthly platform fee of £99. – Pretty pricey.

The math:

You will be provided a $15,000 account. Yes, you have no challenges or verification phase to pass, but, you have a profit target and a drawdown of 10%, a 0.50 lot-size cap. This doubles along with your funding each time you reach 10%.
Profit target & Drawdown limit  – $15,000/10 = $1,500. Again, you are paying a once-off joining fee of £199, as well as a monthly platform fee of £99. For many traders that are not yet seeing full consistency within their trading system may find they could end up spending more and more on the monthly fees but simply can’t reach their profit target in the same month to at least cover their expenses thus far. It is for this reason that many traders prefer a once-off fee model rather than a subscription. In saying that, unfortunately, the prop firms that offer a once-off fee generally don’t offer instant funding, with the exception of a few like The5ers, BluFX, and so on.

How to apply:

So, basically, it will take 3 simple steps to get funded!
Step 1: Apply to the program by filling out the form to show your basic experience, trading duration, and trading strategy.
Step 2: Interview, either face-to-face or telephonically to get to know you better and for you to get a better understanding of what targets you’ll need to achieve, drawdown limits, etc.
Step 3: Recieve your funded account within 24 hours. AudaCity Capital should confirm whether you have been approved and email you your login credentials and account dashboard details.

Again, this process is a very quick one and much better compared to other prop firms that require a challenge and verification phase, like FTMO and alike. Instant funding is definitely the way to go. Check out other prop firms that offer instant funding like BluFX and The5%ers.

Conclusion:

With over 444 reviews and a rating of 4.8/5 on Trustpilot, AudaCity Capital is a prop firm with a twist, and you can clearly see why. With over 5000 traders that they empower to do better and a success rate of 72% profitable traders, I am more than happy to say that this proprietary firm is one for the books. – However, their monthly platform fee may have you going elsewhere. 

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