FundYourFX vs Audacity
Let us begin by looking into FundYourFX and Audacity briefly to get a sense of what they are about. Both are prop firms with funded trading programs in which traders with the necessary trading skills are granted access to funded accounts. FundYourFX vs Audacity, comparing both of these firms can assist you in selecting the best one.
They are a well-known prop firm with positive feedback on Trustpilot, TrustIndex, and Google Reviews. They are a newer company, founded in 2021 and based in London. FundYourFX uses EightCap as its trading platform. EightCap is a broker that has won awards and has some of the best spreads on the market. Their primary expectation is that their clients are disciplined individuals who manage risk effectively and prioritize long-term consistency. If they are consistently profitable, their start-up capital can automatically rise by 50% every time they generate a 10% profit. And it can rise steadily until it hits $2 million. You will be paid up to 90% of all earnings directly after you hit a 10% profit.
Since 2012, Audacity Capital has assisted traders in over 140 nations. They’ve also established a solid reputation for supporting traders with Forex trading potential. They provide traders with up to $480,000 in trading capital with a 50-50 profit share, and they fund traders with real money from the start. They also provide a fast-scaling strategy, which includes increasing the size of the trading account if the trader achieves the 10% target.
Funded Trading Programs
The Funded Trader Programs at FundYourFX and Audacity are comparable. Both provide a fully-funded live trading account starting with $15,000 in real capital. FundYourFX can scale up to $2,000,000, but Audacity can only scale up to $500,000. The rapid scaling is similar in that both will raise the funded trader’s capital every time they make a 10% profit.
When comparing similar programs, FundYourFX stands out with its million-dollar scaling, while Audacity only gives half of that. Also, FundYourFX doesn’t require you to take a challenge, so in that regard, FundYourFX is a better option.
Fees are one of the key differences between FundYourFX and Audacity. In Audacity, you must pay a one-time fee of £298 as well as a monthly platform subscription of £99. To join in their challenge, the charge is £149 with a funding of $15,000 and £629 with a funding of $120,000. The one-time fee with FundYourFX depends on their funded trader program. They have 3 different programs to suit different types of traders. There is, however, no platform fee.
So for a low price of £197 for their Starter program, you can get started with $6,000 funding. Additionally, £297 is all you need to get started with their Standard program with $15,000 funding. And lastly, their Profesional program costs £577, but you get $30,000 in funding. Not only is there no platform fee, but you can also get your fee refunded in FundYourFX when you hit 10% profit 3 times. No other prop firm does this for an instant funding prop firm. This is another reason why FundYourFX is superior to Audacity.
Audacity Capital and FundYourFX traders can trade Forex majors and minors. Audacity does not allow commodities or indices until you have demonstrated your worth and have been approved by their team. To trade them, you must be at Stage 4 and have a $120,000 account. Only then will they consider enabling you to trade commodities or indices on your account. This differs from FundYourFX, where you may immediately trade commodities and indices. You can also trade cryptocurrencies. This is why FundYourFX comes out on top again.
The trading rules at Audacity are not as flexible as those at FundYourFX. Both prop firms provide the advantage of not imposing minimum trading days or deadlines on their traders. They provide a 10% absolute drawdown that does not trail behind the trader’s earnings. Furthermore, traders are not liable for any losses. That is what they have in common.
The difference is that weekend positions in Audacity are subject to risk management approval. If you wish to keep a position open over the weekend, you need to fill out the form at weekend.audacitycapital.co.uk. You can see this information on the trader’s dashboard. This is not necessary with FundYourFX because you may leave trades open on weekends and overnight.
Positions must be closed in Audacity during major news events such as the NFP, interest rate decisions, and central bank speeches, but not in FundYourFX. Another reason why traders should think about using FundYourFX.