Part of our prop firm guide series. Start with What is a Prop Firm? (2026 complete guide), then explore: trading evaluation, how prop firms work, simulated funds, first evaluation checklist, evaluation programmes.
Quick answer: Alpha Capital's free monthly trading competition is a simulated event with one free entry per person. Rankings use the highest dollar gain. Current prizes run from a $5K Evaluation (31st-70th) to a $100K Evaluation (1st). Competition rules are not the same as a paid Evaluation. Check the dashboard and the Help Centre rules before you enter, because dates and conditions can change.
Alpha Capital's free monthly trading competition gives traders a way to test their process in a simulated environment and compete for Evaluation prizes without paying an entry fee.
Entry is free, but the competition has its own rules. It is not the same as purchasing an Alpha Capital Evaluation, and joining does not guarantee an Evaluation prize or a future performance fee.
This guide explains:
- how to enter when registration is open;
- which trading rules apply;
- how the leaderboard is decided;
- which Evaluation prizes are available; and
- how the competition differs from a standard Evaluation.
Competition dates and availability can change. Check the Alpha Capital dashboard and the current Help Centre articles before you try to enter.
What is the Alpha Capital monthly trading competition?
The Alpha Capital monthly competition is a free simulated trading event.
Each eligible participant receives one competition entry. Traders then compete under a shared set of rules, and the current rules rank the field by the highest dollar gain.
The competition rules describe two purposes: compete for discounts and free accounts, and try the platform before a funding evaluation. The current prize page lists Evaluation accounts by final place.
The competition account uses simulated funds. It is not a cash balance, a Qualified Account, or a standard trading evaluation.
Is the Alpha Capital trading competition free?
Yes. The published rules allow one free entry per person.
Using multiple email addresses or accounts to obtain extra entries can result in a permanent ban. That is the wording on the Help Centre rules page, checked 23 September 2026.
"Free entry" is not the same as "every participant receives a free Evaluation." Participants enter the competition for free. Evaluation prizes go to eligible winners according to the final rankings and the published terms.
How to enter the Alpha Capital competition
When entries are open, the Help Centre sign-up steps are:
- Sign in to the Alpha Capital dashboard.
- Select Competition List from the side menu.
- Click Enter Competition and complete the requested details.
- Check your email for the competition account credentials and the platform download link.
You may choose a nickname for the leaderboard if you do not want your full name shown. The first name and surname on the dashboard still have to be your correct legal name at sign-up. The Help Centre says a wrong name can restrict the dashboard email, revoke prizes, or stop the qualifying process at KYC.
The competition password must be at least 8 characters and include one uppercase letter, one number, and one special character.
Read the current competition sign-up instructions before you enter. If no competition appears in the dashboard, registration may not be open yet, or it may already have closed. Do not rely on an old social post for the current entry window.
Alpha Capital monthly competition rules
Competition rules are separate from the rules on Alpha Capital's paid Evaluations. The Help Centre says these restrictions apply only to the free monthly trading competition. They do not apply to Alpha Pro funding plans. Do not copy competition limits onto a paid Evaluation, and do not assume a rule you remember from Alpha Pro, Alpha One, Alpha Swing, or Alpha Direct applies inside the competition.
The current Help Centre publishes these competition conditions:
| Rule | Current competition condition |
|---|---|
| Entry limit | One entry per person. Extra emails or accounts can lead to a permanent ban. |
| Expert Advisors | Not allowed |
| Maximum open trades | Five at one time |
| Maximum daily drawdown | 5% |
| Maximum total drawdown | 10% |
| Weekend holding | Allowed |
| News trading | Allowed |
| Ranking method | Highest dollar gain |
| Simulated execution | Do not take advantage of unrealistic fills in the demo environment |
| Forex, XAUUSD, and XAGUSD | Maximum 10 lots per trade. Maximum total exposure of 50 lots. |
| Oil, CFDs, and indices | Maximum 30 lots per trade. Maximum total exposure of 150 lots. |
The lot caps line up with the five-trade limit. For forex and metals, 50 lots is five positions of 10 lots, on the same market or across markets. For oil, CFDs, and indices, 150 lots is five positions of 30 lots.
The rules page also says weekend holding and news trading are allowed, and it compares that permission with the Swing plan. That comparison is only about those two permissions. The rest of the competition rule set still stands on its own.
Read the full free monthly trading competition rules before the first trade. The Help Centre takes priority if a condition changes.
What can winners receive?
Alpha Capital's current prize page awards Evaluation accounts by final place:
| Final position | Evaluation prize |
|---|---|
| 1st | $100K Evaluation |
| 2nd-3rd | $50K Evaluation |
| 4th-5th | $25K Evaluation |
| 6th-30th | $10K Evaluation |
| 31st-70th | $5K Evaluation |
The Help Centre says winning Evaluation accounts are issued automatically, and it asks winners to allow time for that process to finish.
Check the current monthly competition prize page before you rely on a particular account size or number of winners.
An Evaluation prize is not a cash award and it is not a Qualified Account. The winner still has to complete the objectives on that Evaluation before a Qualified Account is available. See the evaluation programmes for how a standard Evaluation is structured.
Competition account vs Evaluation vs Qualified Account
These are three different stages.
| Account | Purpose | Entry | Possible next step |
|---|---|---|---|
| Competition account | Compete on the monthly leaderboard | Free when registration is open | Eligible winners receive an Evaluation prize |
| Evaluation account | Trade toward published objectives | Purchased, or awarded as a competition prize | Meet the applicable objectives to progress |
| Qualified Account | Trade under Qualified Account rules | Reached after the relevant route is satisfied | Eligible performance fees may be requested under current terms |
All three use simulated funds. Performance fees are performance-based and are not guaranteed.
How is the winner decided?
The current competition ranks traders by the highest dollar gain.
Return matters, and it does not remove the drawdown or position limits. A large gain does not count if it came from activity that breaches the published rules.
Traders need to balance two objectives:
- produce a competitive result; and
- keep the account inside every competition condition.
The leaderboard is not a reason to ignore risk. Increasing size because another participant is ahead can end the competition early through a drawdown breach.
How to prepare before the competition starts
Read the competition rules, not only the Evaluation rules
Do not assume the conditions are identical. Expert Advisor use, position limits, drawdown, and ranking all need to be checked on the competition page itself. If you later receive an Evaluation prize, use the first evaluation checklist before the first trade on that account. Those checks are for the Evaluation, not for the competition.
Choose instruments in advance
Know whether your normal position size stays inside the forex, metals, oil, CFD, or index limits.
Plan around the drawdown
The published competition rules include 5% maximum daily drawdown and 10% maximum total drawdown. Build those boundaries into the plan before the first trade.
Decide when not to trade
A competition can encourage extra activity. Define which sessions and setups qualify before the leaderboard starts influencing decisions.
Confirm the entry window
Registration dates can differ from the dates you are allowed to trade. Enter through the dashboard while that competition is actually listed.
Five competition mistakes to avoid
1. Creating more than one entry
The rules allow one entry per person. Multiple emails or accounts can lead to a permanent ban.
2. Using an Expert Advisor
Expert Advisors are not permitted in the monthly competition.
3. Exceeding the position limit
Check both the per-trade lot limit and the total exposure limit. Five open trades is the maximum at one time.
4. Confusing competition rules with product rules
The free competition has its own conditions. Do not apply limits you remember from Alpha Pro, Alpha One, Alpha Swing, or Alpha Direct, and do not apply the competition's 5% and 10% drawdown figures to a paid Evaluation.
5. Chasing the leaderboard
Another trader's result does not change your drawdown. Increasing risk without a defined setup can remove the account from contention.
Can a free Evaluation lead to a Qualified Account?
Yes, but only through the normal Evaluation process.
An eligible competition winner receives an Evaluation prize. The winner must then meet the objectives and stay inside the rules on that Evaluation. Qualification is not automatic.
One Alpha Capital trader, Kieran, began with a free Evaluation received through a giveaway, then later progressed through the Evaluation process. His experience is in the interview He Won a Free Evaluation, Cleared His Debt, and Reinvested Into a £200K Account. That was a giveaway, not a promise about this competition, and it is one trader's experience rather than a typical or guaranteed result.
Frequently asked questions
Does Alpha Capital run a free trading competition?
Yes. Alpha Capital publishes rules and prizes for a free monthly simulated trading competition. Check the dashboard to see whether registration for the next competition is open.
How much does the Alpha Capital competition cost?
Entry is free, with one entry permitted per person under the current rules.
What can I win in the Alpha Capital competition?
Current prizes range from a $5K Evaluation (31st to 70th) to a $100K Evaluation (1st), depending on final placement. Verify the prize page before you enter.
Does everyone receive a free Evaluation?
No. Entry to the competition is free. Evaluation prizes are issued to eligible winners based on the final rankings.
Can I use an Expert Advisor in the competition?
No. The published monthly competition rules prohibit Expert Advisors.
Can I hold positions over the weekend?
The current competition rules allow weekend holding and news trading. Confirm the live rules before each competition, because they can change.
How many competition accounts can I open?
One entry per person. Using multiple email addresses or accounts can lead to a permanent ban.
Is the competition account a Qualified Account?
No. It is a simulated competition account. Eligible winners receive Evaluation prizes and still have to satisfy the Evaluation requirements on that prize.
Are results or performance fees guaranteed?
No. Trading results, competition rankings, qualification, and performance fees are not guaranteed.
Check the next Alpha Capital competition
The Alpha Capital monthly trading competition is a free way to test a process under shared simulated rules and compete for Evaluation prizes.
Before you enter:
- confirm registration is open in the dashboard;
- read the current rules;
- review the current prize structure;
- use your correct legal name on the dashboard; and
- plan position size around the competition's drawdown and exposure limits.
See all Alpha Capital competition and free-trial information.
Author: Alpha Capital Research Team · Reviewed by: Product and Compliance · Updated: 23 September 2026 · Related: Trading evaluation · How prop firms work · Evaluations
The Alpha Capital competition, Evaluations, and Qualified Accounts operate in a simulated trading environment with simulated funds. Evaluation prizes, qualification, and performance fees are subject to current terms and are not guaranteed. This article provides general information and is not financial advice.
