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Alpha Kings

Skip the Evaluations. Start Competing.

An Alternative to Prop Firms

Alpha Kings is a simulated trading contest platform. You compete against other entrants for a prize pool in USDC. No funded accounts. No evaluation rules. You can lose your entry fee.
Start competingHow it works

Trading is simulated. Entry fees and prizes are real, where permitted.

Why Traders Look for Prop Firm Alternatives

A funded account suits some traders. These are the parts of the model that send others looking.

Evaluation Fees

Many firms charge a fee for each evaluation attempt, and you pay again to retry.

Drawdown Rules

Evaluations commonly set daily and maximum drawdown limits. Breaking one can end the attempt.

Profit Splits

A funded account usually pays you a share of the profits, and the firm keeps the rest.

Long Evaluation Periods

Evaluations can run for weeks and across more than one phase before any payout.

Account Violations

Evaluation rules vary by firm and can end an account. Read the terms of each firm before you pay.

How Alpha Kings Is Different

Instead of evaluation fees

Pay Per Contest

You pay an entry fee plus an arena fee of $2 to $25. King's Court challenges start at a $1 entry fee. There are no subscriptions.

Instead of drawdown rules

No Drawdown Limits

A contest has no daily or maximum drawdown limit. Your only goal is to finish ahead of the other entrants.

Instead of profit splits

Winner Receives 95% of the Pool

A 5% victory fee comes out of the prize pool. If you do not win, you pay nothing extra, and you lose your entry fee and arena fee.

Instead of long evaluations

Short Contests

King's Court challenges run from 15 minutes to 24 hours. Every contest shows its length before you join.

Instead of trading alone

Head-to-Head Competition

You compete against other entrants, not a rule set. Some entrants may be Automated Trading Accounts, and they are labeled. The highest realized profit wins.

Instead of waiting on a firm

Prize Paid to Your Cash Wallet

The prize is credited to your Cash wallet when the contest settles. You can then request a withdrawal in USDC on Polygon.

Prop Firms vs Alpha Kings: Side by Side

  • Format

    Alpha Kings

    Simulated trading contest against other competitors

    Prop firms

    Trade alone against evaluation rules to qualify for a funded account

  • What you pay

    Alpha Kings

    An entry fee plus an arena fee, per contest

    Prop firms

    An evaluation fee or subscription, set by each firm

  • What you can win

    Alpha Kings

    The prize pool, less a 5% victory fee, in USDC where permitted

    Prop firms

    A share of profits from a funded account, on the terms of each firm

  • What you can lose

    Alpha Kings

    Your entry fee and arena fee

    Prop firms

    Your evaluation fee or subscription

  • Length

    Alpha Kings

    Shown on each contest. King's Court challenges run from 15 minutes to 24 hours

    Prop firms

    Set by each firm

  • Starting balance

    Alpha Kings

    $100,000 simulated by default, shown on each contest

    Prop firms

    Set by each firm

  • Markets

    Alpha Kings

    Forex, crypto, indices and commodities, set per contest

    Prop firms

    Set by each firm

  • Drawdown rules

    Alpha Kings

    No drawdown limit in a contest

    Prop firms

    Usually part of the evaluation rules

  • Profit split

    Alpha Kings

    Winner receives 95% of the prize pool

    Prop firms

    Share set by each firm

  • Trading restrictions

    Alpha Kings

    No news or overnight rule in a contest

    Prop firms

    Varies by firm

General comparison of the two formats. Alpha Kings is the creator of this page. Individual prop firm features vary.

How Alpha Kings Works

  1. 01

    Create Account

    Sign up for free. No evaluation fees.
  2. 02

    Fund Your Wallet

    Deposit USDC on Polygon to enter contests.
  3. 03

    Enter & Compete

    Join a contest and trade simulated capital against other competitors.
  4. 04

    Win USDC

    First place wins the prize pool, less the 5% victory fee, where permitted.

Frequently Asked Questions

What is wrong with prop firms?
Nothing, if a funded account is what you want. Some traders would rather not pay for evaluations, follow drawdown rules or share profits, and a contest is a different format.
Is Alpha Kings a prop firm?
No. Alpha Kings is a simulated trading contest platform. There are no funded accounts, no evaluations and no profit splits. You enter contests against other competitors, and first place wins the prize pool in USDC, where permitted.
How is Alpha Kings different from prop firms?
A prop firm evaluates you for a funded account. Alpha Kings runs contests where you trade simulated capital against other entrants. King's Court challenges can be as short as 15 minutes, a contest has no drawdown limit, and the winner receives 95% of the prize pool.
What are the entry fees?
Entry fees are set per contest, and King's Court challenges start at $1. The arena fee runs from $2 to $25 depending on the entry fee, and it is paid on top of the entry fee. There are no subscription fees.
What markets can I trade on Alpha Kings?
Alpha Kings has 36 symbols across forex, crypto, indices and commodities, plus futures tickers. This includes major pairs like EUR/USD, crypto like BTC and ETH, indices like S&P 500 and NASDAQ, and commodities like gold and oil. Each contest sets its own list.
How are prizes paid out?
The prize is credited to your Cash wallet when the contest settles, less a 5% victory fee taken from the prize pool. You can then request a withdrawal in USDC on the Polygon network.
Is Alpha Kings legal?
We do not make that claim for any location. Trading on Alpha Kings is simulated, with no real market exposure, and entry fees and prizes are real, where permitted. Alpha Kings is not offered in these US states: AR, CT, DE, FL, HI, ID, LA, MT, NV, OR, SD, WA. It is also not offered in Canada, China, India, Cambodia, Thailand, Philippines, Nepal, Iran, North Korea, Cuba, Syria, Russia. Check your local rules before you pay.

Done With Prop Firms?

No drawdown rules. No profit splits. No monthly fees. You can lose your entry fee.

Join Alpha Kings