Challenge Comparison Tool

Select up to 3 firms to compare their challenges, rules, and pricing side by side.

Firm 1

Alpha Trader Firm

Firm 2 (optional)

Bullwaves Prime

Firm 3 (optional)

	Alpha Trader Firm 7.0 Get Started	Bullwaves Prime 4.2 Get Started
Overview
Asset Type	CFD	CFD
Country	United States	Seychelles
Established	Jan 2022	Sep 2024
Technology	White-Label	White-Label
Platforms	Match Trader, MT5, TradeLocker	MT5
Trading Rules
Profit Split	Up to 100% (1-Step/2-Step Standard); 90% Bi-Weekly / 70% On-Demand (Instant Funding) Best	Up to 100% (base + 20% add-on)
Daily Drawdown	3% (1-Step & Instant) / 5% (2-Step)	4% (1-Step) / 5% (2-Step)
Payout Frequency	Bi-weekly (14-day) Standard 30-day at 100% split; 7-day weekly add-on at 80%; on-demand at 70%; bi-weekly default for Instant Funding at 90%	Every 15 calendar days First payout eligible 15 calendar days after first trade; subsequent payouts every 15 calendar days
Direct Path to Funded	✗ No	✗ No
Reviews & Reputation
Review Count	0 reviews	0 reviews
Avg. Rating	No ratings yet	No ratings yet
Pros & Cons
Main Benefits	Up to $4M total allocation. Multiple challenge models (1-Step, 2-Step, 2-Step PRO, Instant, Instant PRO). Up to 100% profit split (Standard 30-day payout). Refundable fees on 1-Step/2-Step after first payout. No time limit. News trading and overnight holding allowed. FREE 10K Instant Funded Account included with any 100K+ Challenge.	Up to $400K funding, MT5 platform, raw spreads from 0.0 pips, accounts from $59 (2-Step 5K), all assets allowed, 1:50 leverage, regulated broker backing (Equitex Capital SD185), 100% profit split with add-on
Main Drawbacks	Trader Score limit (35% Standard, 20% Instant) restricts large single-day wins. Floating PnL cap (1% Instant, 3% Standard). Trading suspended during 5-day payout review. Simulated demo environment only (per legal disclosure). Instant Funding fees non-refundable.	TrustPilot rating suspended due to fake-review breach of guidelines, multiple user complaints about payout denials and account confiscation, offshore-only (Moonance LLC SVG + Equitex Seychelles), restricted in many jurisdictions including US/EU sanctions lists, no daily drawdown override available
Offers & Promo Codes
Active Offers	No offers	No offers

Challenge Details

Alpha Trader Firm Challenges

21 challenges

Price	Account Size	Step	Profit Target	Max Daily Loss	Max Drawdown	Profit Split	Activation Fee
$79	$10K	2 Steps	P1: $1,000 (10%) P2: $500 (5%)	P1: $500 (5%) 5% Daily Loss Limit P2: $500 (5%) 5% Daily Loss Limit	P1: $1,000 (10% Max Loss) P2: $1,000 (10% Max Loss)	Up to 100%	None
$119	$10K	1 Step	P1: $800 (8%)	P1: $300 (3%) 3% Daily Loss Limit	P1: $600 (6% Max Loss)	Up to 100%	None
$149	$10K	Instant	P1: -	P1: $300 (3%) 3% Daily Loss Limit + 1% floating PnL cap	P1: $500 (5% Max Loss)	Bi-weekly 90% / On-demand 70%	None
$249	$25K	2 Steps	P1: $2,500 (10%) P2: $1,250 (5%)	P1: $1,250 (5%) 5% Daily Loss Limit P2: $1,250 (5%) 5% Daily Loss Limit	P1: $2,500 (10% Max Loss) P2: $2,500 (10% Max Loss)	Up to 100%	None
$299	$25K	1 Step	P1: $2,000 (8%)	P1: $750 (3%) 3% Daily Loss Limit	P1: $1,500 (6% Max Loss)	Up to 100%	None
$299	$25K	Instant	P1: -	P1: $750 (3%) 3% Daily Loss Limit + 1% floating PnL cap	P1: $1,250 (5% Max Loss)	Bi-weekly 90% / On-demand 70%	None
$349	$50K	2 Steps	P1: $5,000 (10%) P2: $2,500 (5%)	P1: $2,500 (5%) 5% Daily Loss Limit P2: $2,500 (5%) 5% Daily Loss Limit	P1: $5,000 (10% Max Loss) P2: $5,000 (10% Max Loss)	Up to 100%	None
$399	$50K	1 Step	P1: $4,000 (8%)	P1: $1,500 (3%) 3% Daily Loss Limit	P1: $3,000 (6% Max Loss)	Up to 100%	None
$449	$50K	Instant	P1: -	P1: $1,500 (3%) 3% Daily Loss Limit + 1% floating PnL cap	P1: $2,500 (5% Max Loss)	Bi-weekly 90% / On-demand 70%	None
$700	$100K	2 Steps	P1: $10,000 (10%) P2: $5,000 (5%)	P1: $5,000 (5%) 5% Daily Loss Limit P2: $5,000 (5%) 5% Daily Loss Limit	P1: $10,000 (10% Max Loss) P2: $10,000 (10% Max Loss)	Up to 100%	None
$749	$100K	Instant	P1: -	P1: $3,000 (3%) 3% Daily Loss Limit + 1% floating PnL cap	P1: $5,000 (5% Max Loss)	Bi-weekly 90% / On-demand 70%	None
$800	$100K	1 Step	P1: $8,000 (8%)	P1: $3,000 (3%) 3% Daily Loss Limit	P1: $6,000 (6% Max Loss)	Up to 100%	None
$1200	$200K	2 Steps	P1: $20,000 (10%) P2: $10,000 (5%)	P1: $10,000 (5%) 5% Daily Loss Limit P2: $10,000 (5%) 5% Daily Loss Limit	P1: $20,000 (10% Max Loss) P2: $20,000 (10% Max Loss)	Up to 100%	None
$1300	$200K	1 Step	P1: $16,000 (8%)	P1: $6,000 (3%) 3% Daily Loss Limit	P1: $12,000 (6% Max Loss)	Up to 100%	None
$1700	$200K	Instant	P1: -	P1: $6,000 (3%) 3% Daily Loss Limit + 1% floating PnL cap	P1: $10,000 (5% Max Loss)	Bi-weekly 90% / On-demand 70%	None
$1900	$300K	2 Steps	P1: $30,000 (10%) P2: $15,000 (5%)	P1: $15,000 (5%) 5% Daily Loss Limit P2: $15,000 (5%) 5% Daily Loss Limit	P1: $30,000 (10% Max Loss) P2: $30,000 (10% Max Loss)	Up to 100%	None
$2100	$300K	1 Step	P1: $24,000 (8%)	P1: $9,000 (3%) 3% Daily Loss Limit	P1: $18,000 (6% Max Loss)	Up to 100%	None
$2400	$300K	Instant	P1: -	P1: $9,000 (3%) 3% Daily Loss Limit + 1% floating PnL cap	P1: $15,000 (5% Max Loss)	Bi-weekly 90% / On-demand 70%	None
$2400	$400K	2 Steps	P1: $40,000 (10%) P2: $20,000 (5%)	P1: $20,000 (5%) 5% Daily Loss Limit P2: $20,000 (5%) 5% Daily Loss Limit	P1: $40,000 (10% Max Loss) P2: $40,000 (10% Max Loss)	Up to 100%	None
$2600	$400K	1 Step	P1: $32,000 (8%)	P1: $12,000 (3%) 3% Daily Loss Limit	P1: $24,000 (6% Max Loss)	Up to 100%	None
$3600	$400K	Instant	P1: -	P1: $12,000 (3%) 3% Daily Loss Limit + 1% floating PnL cap	P1: $20,000 (5% Max Loss)	Bi-weekly 90% / On-demand 70%	None

Bullwaves Prime Challenges

13 challenges

Price	Account Size	Step	Profit Target	Max Daily Loss	Max Drawdown	Profit Split	Activation Fee
$59 One time	$5K	2 Steps	P1: 8% P2: 5%	P1: 5% P2: 5%	P1: 10% P2: 10%	Up to 100% (base + 20% add-on)	None
$89 One time	$5K	1 Step	P1: 10%	P1: 4%	P1: 8%	Up to 100% (base + 20% add-on)	None
$99 One time	$10K	2 Steps	P1: 8% P2: 5%	P1: 5% P2: 5%	P1: 10% P2: 10%	Up to 100% (base + 20% add-on)	None
$149 One time	$10K	1 Step	P1: 10%	P1: 4%	P1: 8%	Up to 100% (base + 20% add-on)	None
$199 One time	$25K	2 Steps	P1: 8% P2: 5%	P1: 5% P2: 5%	P1: 10% P2: 10%	Up to 100% (base + 20% add-on)	None
$299 One time	$50K	2 Steps	P1: 8% P2: 5%	P1: 5% P2: 5%	P1: 10% P2: 10%	Up to 100% (base + 20% add-on)	None
$329 One time	$25K	1 Step	P1: 10%	P1: 4%	P1: 8%	Up to 100% (base + 20% add-on)	None
$449 One time	$50K	1 Step	P1: 10%	P1: 4%	P1: 8%	Up to 100% (base + 20% add-on)	None
$549 One time	$100K	2 Steps	P1: 8% P2: 5%	P1: 5% P2: 5%	P1: 10% P2: 10%	Up to 100% (base + 20% add-on)	None
$649 One time	$100K	1 Step	P1: 10%	P1: 4%	P1: 8%	Up to 100% (base + 20% add-on)	None
$999 One time	$200K	2 Steps	P1: 8% P2: 5%	P1: 5% P2: 5%	P1: 10% P2: 10%	Up to 100% (base + 20% add-on)	None
$1199 One time	$200K	1 Step	P1: 10%	P1: 4%	P1: 8%	Up to 100% (base + 20% add-on)	None
$2199 One time	$400K	1 Step	P1: 10%	P1: 4%	P1: 8%	Up to 100% (base + 20% add-on)	None

Alpha Trader Firm

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Bullwaves Prime

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