Futures prop firms
Alpha Futures review
Alpha Futures is a quietly good day-trading firm, and the reason is the drawdown. It trails end-of-day and then locks once it reaches your starting balance, the same friendly behavior Topstep uses, paired with a 90 percent split that beats most of the table. The one hard limit is time: Alpha flattens you in the afternoon and does not let you hold overnight.
I funded an Alpha account to see how the lock-at-start drawdown and the flat-by rule behave. Checked 23 June 2026.
| 50K eval | $109-119/mo |
|---|---|
| Model | 1-step |
| Drawdown | EOD trailing (locks at start) |
| 50K max loss | $2,000 |
| Profit split | 90/10 |
| News | Allowed (eval) |
| Overnight | No (flat 4:20pm) |
Pricing checked 2026-06-23 from the official pricing page.
The drawdown that stops chasing you
Alpha's drawdown trails your end-of-day balance up and then locks at your starting number once it gets there. In practice, after you build a cushion the stop sits still instead of ratcheting tighter with every green day. That is the difference between a drawdown you can breathe under and one that punishes a good run, and Alpha is on the right side of it.
The $2,000 limit on a 50K is standard, and the end-of-day basis means it is measured on your close, not your worst intraday tick. Combined with the lock, this is one of the more forgiving drawdowns to trade once you are past the early cushion-building phase.
The flat-by rule is the real constraint
Alpha closes positions around 4:20pm and does not allow overnight holds. If your strategy needs to carry a position past the close, this is the wrong firm, full stop. For an intraday trader who is out before the bell anyway, the rule costs nothing. Know which one you are before you buy, because the flat-by time is not negotiable.
Alpha allows news trading on the eval, which suits an economic-calendar style, and the 90/10 split is genuinely strong. The 70M code takes 25 percent off the eval, a smaller cut than the discount firms but enough to matter on a monthly subscription.
Where it fits
high-split
The verdict
Alpha Futures is a strong pick for a pure day trader who wants a lock-at-start drawdown and a 90 percent split and never holds overnight. On rules and economics it is one of the cleaner firms on the board, and the 70M code trims the entry.
It is simply disqualified if you swing or hold past the close, since the flat-by rule ends that conversation. For everyone else who trades and goes flat by the afternoon, it deserves a place on the shortlist.
Compare Alpha Futures
Head to head: vs Topstepvs Apex Trader Fundingvs TakeProfitTradervs MyFundedFuturesvs Tradeifyvs Earn2Tradevs Goat Funded Futuresvs Bulenoxvs Phidias
Best for: Futures prop firms with the highest profit splitFutures prop firms with no daily drawdown
See verified Alpha Futures coupon codes (checked 2026-06-23)
FAQ
What is Alpha Futures' drawdown?
An end-of-day trailing drawdown, $2,000 on a 50K, that follows your closing balance up and then locks at your starting balance. After you build a cushion the stop stops tightening, which is friendlier than a forever-trailing drawdown.
Can you hold trades overnight on Alpha Futures?
No. Alpha flattens positions around 4:20pm and does not allow overnight holds. It suits intraday traders who are out before the close, not swing traders.
What is Alpha Futures' profit split?
A 90/10 split in your favor, which is strong for the category. Alpha also allows news trading on the eval, and the 70M code takes 25 percent off the monthly eval.