Part of our prop firm guide series. Start with What is a Prop Firm? (2026 complete guide), then explore: what a CFD prop firm is · what forex trading is · trading evaluation · prop firm vs broker · symbols · plans.
TL;DR: On an Alpha Capital evaluation, forex and CFDs share one simulated account. Forex is the currency pairs. CFDs are the index and oil symbols. Gold and silver sit with them as XAUUSD and XAGUSD. You trade all of those in lots, and the plan sets a different leverage for each group. Futures contracts are a separate product at Alpha Futures.
Quick answer: CFD trading vs forex trading in the UK is a naming question at a broker and a symbol question on an Alpha Capital evaluation. EURUSD and NAS100 can sit on the same simulated account. The leverage, the overnight swap, and the session are what change.
What is the difference between CFD trading and forex trading in the UK?
UK traders search this because the two names get used for the same currency trade. A platform can put EURUSD under forex and an index under CFDs, and it is not obvious whether that means two products or one account.
On an Alpha Capital evaluation it is one account. We publish three groups on the symbol list.
- Forex is the currency pairs, including EURUSD, GBPUSD, USDJPY, EURGBP, and AUDUSD.
- CFDs are the index and oil symbols: EUSTX50, GER30, HK50, JPN225, NAS100, UK100, UKOIL, US30, US500, and USOIL.
- Metals are XAUUSD for gold and XAGUSD for silver.
You pay the evaluation fee. The balance printed on the plan is simulated funds. A full walk-through of currency pairs is in what forex trading is. The firm type is in what a CFD prop firm is.
Is forex trading a CFD on an Alpha Capital evaluation?
On the currency pairs, you trade the price. You do not take delivery of the currencies. The result is the difference between the open and the close, which is the same idea as a CFD.
We still label those symbols Forex, and we label NAS100, US500, US30, UK100, GER30, UKOIL, and USOIL as CFDs. That split is how the list is published, and it is also how leverage is set. The current list is on symbols.
On this evaluation, forex and CFDs are two labels on one simulated account.
How do leverage and swaps differ for forex and CFDs?
Leverage on the evaluation depends on the market, not on whether the platform calls the ticket a forex trade. These are the published figures for evaluation and Qualified Analyst accounts.
| Plan | FX | Indices | Metals | Oil |
|---|---|---|---|---|
| Alpha Pro | 1:100 | 1:20 | 1:30 | 1:10 |
| Alpha One, Alpha Swing, Alpha Direct | 1:30 | 1:10 | 1:9 | 1:10 |
A 1:100 FX setting on Alpha Pro moves a simulated FX balance faster than the 1:20 index setting on the same plan. That is the practical gap between forex trading and CFD trading here. Leverage changes how fast the simulated balance moves. The balance is still simulated funds.
Holding past the rollover can add a swap. The swap-free add-on removes overnight financing and replaces it with an extra commission. It costs about 10% of the base plan price, you choose it when you buy, and it cannot be added to an account you already have. The conditions are in prop firm trading with no swap fees. News hours and overnight holding are in the news and overnight rules.
Index CFDs and major FX pairs also keep different clocks. A US index can gap with the cash open. A major pair can move through the London and New York overlap, including on non-farm payroll. If the fill differs from the price you clicked, that is slippage.
Which Alpha Capital plan fits forex, and which fits index CFDs?
The plans on the product page are Alpha One, Alpha Pro, Alpha Swing, and Alpha Direct. Evaluation fees start from $27 and rise with the simulated account size and the programme. Alpha One is a one-step evaluation with trailing drawdown. Alpha Pro is two steps, with static drawdown and 6%, 8%, and 10% risk variants. Read the card before you pay. The profit target, the loss limit, and the number of phases are printed there.
Alpha Pro is the plan with 1:100 on FX. Alpha One, Alpha Swing, and Alpha Direct use 1:30 on FX and 1:10 on indices. If gold is the market you actually trade, the symbol is XAUUSD and the leverage follows the metals column. The gold guide covers that market on its own.
You choose the platform at purchase. The published platforms are MetaTrader 5, cTrader, DX Trade, TradeLocker, and Alpha Trader. The list is on platforms.
After a pass, you can become a Qualified Analyst on a Qualified Account. That account is still simulated. The standard performance split is 80% of eligible simulated profit. Alpha Direct, and an optional add-on on the plans that include it, takes the published split to 90%. You select the add-on at purchase. That payment is a performance fee. A pass on its own does not pay it. The shape of the test is in what a trading evaluation is.
When should a UK trader use futures instead of CFDs?
Use this evaluation when the chart is a currency pair, an index CFD, oil, or XAUUSD. Use futures when the chart is an exchange contract such as ES, NQ, MES, or MNQ.
A futures contract has a contract month, a fixed size, and a tick value. A CFD on this evaluation is the symbol as listed, sized in lots. The firm comparison, including rules and platforms, is in futures prop firm vs forex prop firm. The futures product itself is in what a futures prop firm is.
A broker account, where you deposit your own money, is a third path. That comparison is in prop firm vs broker.
What do UK traders ask about CFD trading vs forex trading?
Is forex trading the same as CFD trading in the UK?
On an Alpha Capital evaluation, the labels are different. Forex is the currency-pair list and CFDs are the index and oil list. You can trade both on the same simulated account. What changes is the symbol, the leverage for that group, and the session.
Can I trade gold if I came here for forex?
Yes. XAUUSD and XAGUSD are on the same evaluation as the forex pairs. Gold uses the metals leverage for your plan, which is 1:30 on Alpha Pro and 1:9 on Alpha One, Alpha Swing, and Alpha Direct.
Do forex trades and index CFDs both charge a swap?
They can. Overnight financing applies when you hold past the rollover, unless you bought the swap-free add-on at purchase. That add-on removes the swap and adds a commission.
Is this evaluation a futures account?
No. Futures contracts are traded at Alpha Futures. This evaluation is for forex, index and oil CFDs, and metals.
Alpha Capital evaluations and Qualified Analyst accounts use simulated funds. A performance fee is performance-based. Passing does not guarantee a fee. Simulated results do not reflect live trading outcomes. This is general information, not investment advice.
