Part of our prop firm guide series. Start with What is a Prop Firm? (2026 complete guide), then explore: trading evaluation, simulated funds, how prop firms work, prop firm vs broker, are prop firms legit.
Quick answer: Prop firm evaluation fees in 2026 typically range from $50 (small accounts) to $1,000 (large accounts). Alpha Capital’s Alpha One 5K evaluation starts at $50; Alpha Pro 5K starts at $40. The fee is usually your only direct cost — trading uses simulated funds, not a live brokerage deposit.
Before you compare prices, read the model in our prop firm guide (2026). This page answers one question only: how much does a prop firm evaluation cost, what you get for the prop firm fee, and how Alpha Capital pricing fits the wider market.
If you searched for prop firm challenge cost or funded trader challenge price, you are in the right place. Alpha Capital uses the term evaluation for the paid assessment stage — not “challenge” as a product name. Many traders and other firms call the same step a prop firm challenge; the fee and rules work the same way.
Prop Firm Terminology (Evaluation vs Challenge)
Search engines and forums mix labels. On Alpha Capital’s site, these terms map like this:
- Trading evaluation = what many traders call a prop firm challenge or funded trader challenge
- Qualified trader = often called a funded trader elsewhere
- Performance fee = commonly called a payout
- Performance split = profit split on eligible simulated profits
- Simulated funds = demo capital / virtual balance (not your live deposit)
Throughout this page, evaluation means the paid assessment. Where we mention “challenge”, it refers to how other firms or traders describe the same step — not an Alpha Capital product label.
What Is a Prop Firm Evaluation Fee?
An evaluation fee is the one-time price you pay to attempt qualification at a proprietary trading firm. It covers platform access, published drawdown rules, profit targets, and support for that assessment period. If you pass, you may become a qualified trader — often called a funded trader in other communities — and request performance fees on eligible simulated profits.
At most retail prop programmes — including Alpha Capital — your direct financial exposure is typically the evaluation fee plus any optional resets, not the full nominal account size ($100K simulated does not mean you deposited $100K).
Typical Prop Firm Evaluation Costs in 2026 (Challenge Fee Ranges)
Prices vary by firm, account size, and number of evaluation phases. These ranges reflect common retail prop pricing in 2026 — the same bands traders discuss when comparing challenge fees at FTMO, FundedNext, and similar firms. Always re-verify on each firm’s checkout before buying.
| Simulated account size | Typical evaluation fee range | Notes |
|---|---|---|
| $5,000 | $40 – $60 | Entry tier; often 1-step or cheapest 2-step programme |
| $10,000 | $65 – $120 | Popular starter size; promo codes common |
| $25,000 | $130 – $220 | Mid-tier; more room for position sizing |
| $50,000 | $230 – $320 | Common “serious” evaluation size |
| $100,000 | $400 – $550 | Higher simulated capital; stricter discipline required |
| $200,000 | $700 – $1,000 | Top retail tier at many firms |
Two structural choices move price more than account size alone:
- 1-step vs 2-step vs 3-step — More phases often mean a lower headline fee per dollar of simulated capital, but more stages to clear.
- Drawdown type — Static vs trailing rules change difficulty; compare rules, not just price. See trailing vs static drawdown.
What Does the Evaluation Fee Include?
At established firms, the fee usually includes:
- A simulated trading account at the advertised balance (e.g. $25,000 simulated funds)
- Published profit targets and drawdown limits for each phase
- Platform access (MT5, cTrader, DXtrade, TradeLocker, or firm-specific terminals)
- Rule documentation and help-centre support
- A path to qualification if you pass — with a published performance split (Alpha Capital pays up to 80%)
The fee does not guarantee qualification, profits, or performance fees. Outcomes depend on trading inside the rules.
Reset Fees and Other Costs to Budget
If you breach drawdown or daily loss limits during an evaluation, the simulated account closes. Many firms offer a reset — paying again (often at a discount) to restart the same programme without buying a different product.
Reset pricing, free retries, and add-ons vary by firm and promotion. At Alpha Capital, confirm live reset options in the client checkout and on help.alphacapitalgroup.uk before you purchase. Do not assume a reset is included in the first fee unless the programme page states it.
Other optional costs across the industry (not Alpha-specific):
- Platform data fees — rare on standard prop evaluations; check your platform
- Multiple evaluation attempts — some traders budget 2–3 tries before qualifying
- Tax and accounting — performance fees may have tax implications in your jurisdiction; this is not tax advice
Alpha Capital Evaluation Pricing (June 2026)
Live prices can change with promotions. The tables below match /product as of June 2026. Use checkout for the final amount; see active discount codes when campaigns run.
Alpha One (1-step evaluation)
Fastest path: one phase, then qualification. Best for traders who want a single profit target and no Phase 2.
| Plan | Simulated size | Evaluation fee |
|---|---|---|
| Alpha One 5K | $5,000 | $50 |
| Alpha One 10K | $10,000 | $99 |
| Alpha One 25K | $25,000 | $197 |
| Alpha One 50K | $50,000 | $297 |
| Alpha One 100K | $100,000 | $497 |
| Alpha One 200K | $200,000 | $997 |
Alpha Pro 6% (2-step evaluation)
Two phases before qualification. The 5K tier is Alpha Capital’s lowest entry fee at $40. Phase 1 target is 6% on this variant.
| Plan | Simulated size | Evaluation fee |
|---|---|---|
| Alpha Pro 5K 6% | $5,000 | $40 |
| Alpha Pro 10K 6% | $10,000 | $67 |
| Alpha Pro 25K 6% | $25,000 | $137 |
| Alpha Pro 50K 6% | $50,000 | $237 |
| Alpha Pro 100K 6% | $100,000 | $427 |
| Alpha Pro 200K 6% | $200,000 | $847 |
Alpha Pro is also available at 8% and 10% Phase 1 targets, and Alpha Swing supports overnight holds — each with different fees per size on /product.
Alpha Three-Step (3-step evaluation)
Three verification phases before qualification. Often the lowest cost per dollar of simulated capital on larger tiers.
| Plan | Simulated size | Evaluation fee |
|---|---|---|
| Alpha Three 10K | $10,000 | $67 |
| Alpha Three 25K | $25,000 | $157 |
| Alpha Three 50K | $50,000 | $247 |
| Alpha Three 100K | $100,000 | $397 |
| Alpha Three 200K | $200,000 | $697 |
Full rule sets: Alpha Capital rules explained · Swing overnight rules: Alpha Swing explained.
How to Compare Evaluation Cost (Beyond the Sticker Price)
Cheap is not always better. Use these checks before you pay:
- Cost per $1,000 simulated — Divide fee by account size. A $40 fee on $5K = $8 per $1K; a $997 fee on $200K = $4.99 per $1K.
- Number of phases — A lower fee with three steps may take longer than a one-step plan.
- Drawdown rules — Tighter daily loss limits increase fail risk (and reset spend).
- Performance split after qualification — Alpha Capital pays up to 80% on eligible simulated profits.
- Performance fee frequency — Bi-weekly vs on-demand (often called payout timing elsewhere) affects cash flow after you qualify.
For the full journey from payment to performance fees, read how prop firms work step by step.
Is a Prop Firm Evaluation Worth the Fee?
That depends on your strategy, discipline, and whether simulated size beats risking a larger live deposit. Evaluations suit traders with a defined edge who accept rule-bound trading. They are a poor fit if you need unlimited time, ignore drawdown, or expect guaranteed income.
If you are unsure the model is legitimate, start with Are Prop Firms Legit? (2026) before comparing fees.
Frequently Asked Questions
How much does a prop firm evaluation cost in 2026?
Industry retail fees typically run from about $50 on a $5,000 simulated account to about $1,000 on a $200,000 account. Alpha Capital Alpha One 5K is $50; Alpha Pro 5K 6% is $40. Confirm live pricing on /product.
How much does a prop firm challenge cost?
Traders searching “prop firm challenge cost” usually mean the same fee as an evaluation. At Alpha Capital, that fee starts at $40 (Alpha Pro 5K 6%) and scales with account size and programme. We do not sell a product called a “challenge” — see what is a trading evaluation for the terminology bridge.
What is the cheapest prop firm evaluation?
Entry tiers at many firms start between $40 and $60 for a $5,000 simulated account. At Alpha Capital, Alpha Pro 5K 6% is currently the lowest listed fee. Promotions may change the checkout price — see discount codes.
Is the evaluation fee the only money at risk?
On standard Alpha Capital programmes, yes — you trade simulated funds. Your evaluation fee (and any paid resets) is the typical direct cost. You are not depositing personal trading capital into the simulation.
What does a prop firm evaluation fee pay for?
Access to a simulated account, published profit targets, drawdown rules, platform access, and the opportunity to qualify for a performance split. It does not buy guaranteed profits or automatic qualification.
How much does an Alpha Capital evaluation cost?
From $40 (Alpha Pro 5K 6%) to $997 (Alpha One 200K) on published tiers. Alpha One, Alpha Pro, Alpha Swing, and Alpha Three each have different price grids on /product.
Do prop firms charge reset fees?
Many firms charge again if you fail and want to retry — sometimes at a discount. Reset terms vary. Check Alpha Capital’s checkout and help centre for current reset options before you buy.
Why are some evaluations cheaper per dollar of account size?
Multi-step programmes (2-step or 3-step) spread qualification across more phases. Firms often price them lower upfront because pass rates drop at each stage. Compare total expected cost including possible resets, not just the first fee.
Prop firm evaluation cost vs broker deposit — which is cheaper?
A $50–$100 evaluation is cheaper upfront than funding a live account — but the models differ. Brokers use your capital; prop firms use simulated funds after an assessment. See prop firm vs broker.
Ready to Compare Alpha Capital Plans?
Browse live pricing and rules at /product, read Alpha Capital review (2026), or join traders in our community.
Save on your evaluation. See active Alpha Capital promo codes before checkout.
Alpha Capital Group is a proprietary trading firm based in the United Kingdom. All accounts operate in a simulated trading environment with simulated funds. Performance fees are based on eligible simulated trading results and outcomes are not guaranteed. Prices and rules on this page reflect /product as of June 2026 — verify live terms on alphacapitalgroup.uk before purchasing.
Author: Alpha Capital Research Team · Updated: June 1, 2026 · Related: Prop firm guide · Trading evaluation · How prop firms work
