What Is a CFD Prop Firm? (2026)

Part of our prop firm guide series. Start with What is a Prop Firm? (2026 complete guide), then explore: how prop firms work · trading evaluation · prop firm vs broker · performance fees · plans · platforms.

TL;DR: A CFD prop firm evaluates traders on simulated forex and CFD markets, including currency pairs, indices, metals, and oil. Alpha Capital is a London firm, founded in 2021, that runs this kind of evaluation. You pay for the evaluation, you trade simulated funds, and a performance fee is available only when you qualify and meet the published rules. Futures contracts are a separate product at Alpha Futures.

Quick answer: A CFD prop firm lets you trade forex and CFD prices on a simulated account after you buy an evaluation. If you pass, you can become a Qualified Analyst and request a performance fee. The fee depends on results, and nothing is guaranteed.

What is a CFD prop firm?

A CFD prop firm is a proprietary trading firm that tests your trading on simulated prices for forex and contracts for difference. The account balance you see is simulated funds. You are not depositing that balance into a broker account, and you are not trading a futures contract.

People also search “what are CFD prop firms” because the name is used for the whole category. The firms in that category sell an evaluation, give you rules for profit and loss, and pay a performance fee only if you qualify. Alpha Capital is built for that forex and multi-asset path. If you want the longer definition of a proprietary trading firm, start with what is a prop firm.

What is a forex prop firm, and is it the same thing?

A forex prop firm is the name most traders use when the main market is currency pairs. A CFD prop firm is the wider name, because the same evaluation usually includes more than currencies. At Alpha Capital that set includes forex, index CFDs, metals such as gold, and oil. So the two names describe the same kind of firm when the product is forex and CFDs. They do not describe a futures firm.

If your chart is EURUSD, gold, or an index CFD, you are in this product. If your chart is a futures contract, you are in a different product. The gold rules, for traders who quote it as XAUUSD, are in the gold guide.

How does a CFD prop firm evaluation work?

You choose a plan and you pay for an evaluation. You then trade a simulated account toward the profit target for that plan, while you stay inside the loss limits that plan publishes. The shape of that test is explained in what a trading evaluation is, and the order of the steps is in how prop firms work.

When you pass, you can become a Qualified Analyst on a Qualified Account. That account is still simulated. From there you can request a performance fee when your plan’s rules for a request are met. Alpha Capital publishes an upper share of up to 80% of eligible simulated profit on the standard path. The request timing, including on-demand and bi-weekly, is explained in how performance fees are requested. A pass does not by itself pay you. The fee is performance-based.

The plans you can buy are listed on the product page. Read the card for the plan you want before you pay, because the target, the loss limit, and the number of phases are printed there.

What can you trade at a CFD prop firm?

You can trade the published forex pairs and the published CFD markets, which include indices, metals, and oil. You pick the platform at purchase. The live platforms are MetaTrader 5, cTrader, DX Trade, and TradeLocker. The list, and who can use each one, is on platforms.

This is the practical reason people look for a CFD prop firm instead of a futures firm. The screen, the symbol names, and the session look like the forex and CFD trading they already do. Alpha Capital is the firm in the group for that screen. Support runs Monday to Friday, 8am to 8pm GMT, and the company is based in London. A short history is on the about page.

How is a CFD prop firm different from a futures prop firm?

A CFD prop firm uses forex and CFD prices. A futures prop firm uses futures contracts, with its own platforms and its own rules. Alpha Capital does the first. Alpha Futures does the second. Both use simulated evaluations and performance fees for qualified traders. The market is the difference, so you pick the firm that matches the product you already trade.

How is a CFD prop firm different from a broker?

A broker is where you deposit your own money and the firm earns from the cost of trading. A CFD prop firm is where you pay for an evaluation and trade simulated funds under published rules. If you qualify, the firm can pay a performance fee. Your trading loss on the simulated account is not a loss of a personal deposit, because you did not fund that balance. The fee you paid for the evaluation is the amount you spent to take the test. The side-by-side is in prop firm versus broker.

Frequently asked questions

Is a CFD prop firm the same as a forex prop firm?

Yes, when the firm offers currency pairs together with other CFD markets such as indices, metals, and oil. Alpha Capital is that kind of firm. A futures firm is not.

Do I have to deposit the account size I see on the plan?

You pay the evaluation fee. The account size on the plan is simulated funds. You do not send that full balance to Alpha Capital the way you would fund a broker account.

What happens after I pass?

You can move to a Qualified Account and request a performance fee once that plan’s request rules are met. The account you trade is still simulated. The fee is paid only when you qualify for it, and a pass on its own is not a payment.

Can I use this evaluation for futures contracts?

This evaluation is for forex and CFDs. Futures contracts are traded at Alpha Futures, which is a separate firm in the same group.

Alpha Capital evaluations and Qualified Analyst accounts use simulated funds. A performance fee is performance-based. Passing does not guarantee a fee, and simulated results are not live trading results.

What Is a CFD Prop Firm?