You can find everything you need to know about us, Alpha Futures Limited, and our services on our website Alpha Futures (alpha-futures.com) before you sign up for an Alpha Futures Account. We also confirm the key information to you in writing after you order within your online account.
Applicability of these Virtual Trading Terms and Conditions
These Virtual Trading Terms and Conditions are supplemental to, and form part of, the General Services Agreement which is entered into by you when you sign up for an Alpha Futures Account.
Changes to these Virtual Trading Terms and Conditions
We reserve the right, in our sole discretion, to update, change or replace any part of these Virtual Trading Terms and Conditions by posting updates to these Virtual Trading Terms and Conditions on our website.
These Virtual Trading Terms and Conditions were last updated on [09.09.2024], for a list of changes and when they were made, see https://staging-wp.alpha-futures.com/terms-and-conditions/.
It is your responsibility to check our website periodically for changes to these Virtual Trading Terms and Conditions and the Services (as defined below). We reserve the right to modify the contents of our website at any time, but we have no obligation to update any information on our website. You agree that it is your responsibility to monitor changes to our website.
Your continued use of the Services following the posting of any changes to these Trading Terms and Conditions constitutes acceptance of those changes.
Subject to Users signing up to our General Services Agreement, we provide Users with the opportunity to trade in a virtual capacity where live market conditions are simulated offering you the opportunity to gain experience of trading risking only virtual funds. We also provide a knowledge base which includes several online resources as well as email and live chat support (the “Support”). The provision of the Virtual Account and the Support being collectively the “Services”.
You acknowledge that: (i) any trading that you perform as part of the Services is not real but simulated; (ii) the funds provided to you within an Alpha Futures Account are virtual funds which are not real and that you have no right to possess those virtual funds beyond the scope of their use within the Services; (iii) the virtual funds within your Alpha Futures Account may not be used for any actual trading; and (iv) you are not entitled to the payment of the virtual funds generated within your Alpha Futures Account, nor will you be required to pay any virtual losses.
The Services are only intended for persons over the age of 18 residing in the country for which the Services are available. By registering for an account on our site, you confirm that you are over 18 years of age. If you are under 18 years of age, you may not use the Services.
We offer two Alpha Futures Accounts:
Following your registration as a User, you will be eligible for an Evaluation Account. You will be required to complete one challenge phase, with the exact challenge requirements dependent on the Evaluation Account chosen. Further details can be located here: Alpha Futures (alpha-futures.com). For the avoidance of doubt, no Virtual Performance Fees will be paid in respect of activity undertaken through an Evaluation Account.
There are no time limits applicable to the Evaluation but you must ensure that all other Evaluation requirements continue to be achieved throughout the time in which you are taking part in a challenge. There is no limit on the number of retries on the Evaluation provided that the Alpha Futures Evaluation Account subscription is active and the Trader is in compliance with the remainder of these Virtual Trading Terms and Conditions.
If you successfully complete the two challenge phases associated with an Evaluation Account you will be eligible for a Qualified Trader Account. A Qualified Trader Account does not have a Virtual Profit Target and, in Alpha’s sole discretion, you may be paid a Virtual Performance Fee. Further details can be located here: Alpha Futures (alpha-futures.com).
We may, in our sole discretion, decide to copy the virtual or simulated trades you make within your Qualified Account to the live market. Where we place trades into the live market we do this independently in the name of Alpha Futures Limited in order to generate sufficient profits to make any Virtual Performance Fees, or we may simply fund such Virtual Performance Fee from our own funds. For the avoidance of doubt, you will never be provided with access to the live market through your use of the Services, and any payment of Virtual Performance Fees is in Alpha’s sole and absolute discretion.
You will have the opportunity to make withdrawals of Virtual Performance Fees bi-weekly. Please submit a performance fee request via the dashboard platform https://app.alpha-futures.com/ .
To receive any Virtual Performance Fee under this clause, you must request payment by wire transfer within the dashboard of your Alpha Futures Account. An exchange rate fee, as set by the provider from time to time, applies when receiving Virtual Performance Fees in your domestic currencies. A link to the provider’s terms is set out in the General Services Agreement;
All Virtual Performance Fee withdrawal requests will be processed and paid within 3 business days.
All virtual trades must be closed within your Alpha Futures Account at the time of making a withdrawal request, virtual trading can resume once the withdrawal amount has been withdrawn from the Alpha Futures Account balance.
The Alpha Futures Account and all virtual funds within it remain the property of Alpha Futures Limited (the “Account Owner”);
Traders and Qualified Traders may receive account credentials, trade execution rights and statements for their Alpha Futures Account on behalf of the Account Owner, yet are prohibited from any direct contact with, or instruction to any Account Owner broker or any other intermediary. Any such direct and non-Account Owner sanctioned contact with any Account Owner broker or intermediary will result in instant termination of the Services to the User and Alpha Futures Account closure;
Each Trader is limited to three active Alpha Futures Qualified Account at any one time (such account having a maximum nominal capital allocation of $450,000);
No Group copy trading is allowed. The only copy trading allowed is that from your own external account to your Alpha Futures Account. Any Traders found copy trading other traders’ trades will be subject to review and if found to be in breach of these Virtual Trading Terms and Conditions, revocation of your Alpha Futures Account;
Tradable Assets: Alpha Futures: CME Group Products;
No automated or High Frequency Strategies are allowed. Continuously opening and closing positions to take advantage of the fills in the Simulated Environment is prohibited conduct and Alpha Futures reserves the right to close the account if they find signs of ProhibitedConduct. You can read more details on Prohibited Conduct at alpha-futures.com
The Evaluation Account challenges consist of a 50% consistency rule in the one phase evaluation. Traders must continue to trade until they meet the consistency requirement.
Once a User becomes a Qualified Trader and is provided with a Qualified Trader Account there are no Virtual Profit Targets that need to be met nor does a Qualified Trader have to reach a minimum Virtual Profit Target before requesting a withdrawal of Virtual Performance Fees on a Qualified Trader Account;
A Qualified Trader is required to maintain the same level of risk on a Qualified Trader Account in accordance with the funding plan, a breach of the risk will result in account closure and termination of the General Services Agreement; and
Position Size limits. Evaluation Account: max position is 1 contract per 10k of account balance. $50k = 5 contracts/50 micros, $100k = 10 contracts/100 micros, $150k = 15 contracts/150 micros. Qualified Trader Accounts have a Scaling Plan to help with risk management to work up to max position size. More details here Alpha Futures Scaling Plan (alpha-futures.com). The max positions are the same upon reaching the upper threshold of the Scaling Plan, $50k = 5 contracts/50 micros, $100k = 10 contracts/100 micros, $150k = 15 contracts/150 micros.
Alpha Futures Accounts are not live trading accounts, they are fully simulated accounts utilising real market quotes from liquidity providers. The traders featured are representative only and include selected traders who allow their names to be publicly disclosed. Trader performance quoted represents past performance in a simulated environment and does not guarantee current or future performance. Further, actual financial instrument trading involves substantial risk of loss and is not suitable for every investor. The virtual trading activities referenced by or undertaken utilising Alpha Futures Limited are designed as an educational service but are not intended to promote or encourage you to engage in live trading activity and may not be suitable for all persons.
Ultimately, trading in financial markets is a high-risk activity and it is advised not to risk more than one can afford to lose.
Information and materials provided by Alpha as part of the Services is intended solely for educational purposes related to trading on financial markets and does not serve in any way as a specific investment recommendation, business recommendation, investment opportunity analysis or similar general recommendation regarding the trading of investment instruments.
Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading activity. Also, because the trades are virtual (i.e, they have not actually been executed), the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs, in general, are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any Alpha Futures Account will or is likely to achieve virtual profit or losses similar to those shown.
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.