Ascendx Capital Reviews

What is Ascendx Capital?

Ascendx Capital wants to be the world’s top proprietary firm for knowledgeable traders. Since they recognize that many traders may find it difficult to obtain necessary trading resources, they provide a range of funding choices, enabling traders to select the challenge that best suits their needs. 

It is Ascendx Capital’s mission to push the limits of what is possible in the financial markets and to advance proprietary trading. Their mission is to establish the greatest trading community by giving committed traders the tools and encouragement they need to succeed. Their commitment lies in creating an atmosphere that fosters growth and success for traders.

Ascendx Capital Funding Programs and Challenges: Rules and Requirements 

“Our Capital, Your Profits” is the guiding concept of the trading platform Ascendx Capital. Traders can take advantage of an industry-standard 90% return on generated profits and grow funded accounts up to $500,000.

Leverage is a financial instrument that allows traders to manage bigger positions with smaller amounts of cash, but it also increases gains and losses. Leverage up to 100:1 is available from Ascendx Capital in Qualified Trader accounts and simulated trading accounts during the two stages of evaluation.

Because leverage affects trading performance, traders are encouraged to use caution even when there is no actual capital at risk in evaluations or Qualified Trader accounts. Comprehending the advantages and disadvantages of leverage is essential for employing prudent trading strategies.

There are no maximum lot size restrictions during the challenge period, however, qualified trader accounts are subject to certain maximum lot limits based on account size. The following are the necessary profit targets for every evaluation phase:

• Phase 1: Aim for a total profit of 7%
• Phase 2: Aim for a total profit of 5%

The starting account balance serves as the basis for these goals. For instance, the Phase 1 profit target would be $7,000 if the beginning balance was $100,000. To pass, all trades must be closed and the account balance, including account equity, must hit $107,000.

What are Forex Prop Challenges?

Forex prop challenges are a form of evaluation procedure put up by proprietary trading businesses (prop firms) to find exceptional traders and allow them to trade with the firm’s funds. These challenges are intended to put a trader’s capacity to earn profits while properly managing risk to the test, with a set of trading rules and objectives to adhere to over a specific period.

A forex prop challenge normally has two primary stages:

1. The challenge phase: During this initial phase, traders are given a demo account with a fixed balance and are asked to meet a certain profit objective within a set timeframe, often a month or two, while adhering to maximum drawdown restrictions and other trading guidelines. This phase evaluates the trader’s capacity to earn profits within specified risk constraints.

2. The Verification Phase: Traders who successfully met their profit objectives and followed the regulations during the challenge phase advance to the verification phase. This stage is similar to the challenge phase, although it often lasts longer and may include somewhat different profit objectives or criteria. The goal of this phase is to confirm the trader’s consistency and expertise across a longer time frame.

After completing both steps, traders are often awarded a funded account. This implies that the prop business sets aside a portion of its funds for the trader to handle. The profit gained by trading this capital is split between the trader and the prop business according to a predetermined split.

Forex prop challenges need a cost, which varies for each prop business. This charge covers the expense of the review procedure and guarantees that traders are committed to the offer.

The particular criteria aims, and structure of prop challenges might differ significantly between businesses. Traders are expected to match the following common parameters:

– Profit targets: A predetermined proportion of the account balance that traders must meet.

– Drawdown limits: The maximum permissible percentage loss from the account’s peak amount, both daily and cumulatively.

– Minimum trading days: The number of active trading days required throughout the challenge period.

– Trade style restrictions: Some companies may have regulations about trading strategies, such as forbidding high-frequency scalping or overnight positions.

Aside from the initial challenge fee, forex prop challenges provide traders with access to considerable trading capital without putting their cash at risk. However, participants must carefully evaluate the terms and circumstances of these challenges, since the criteria established by prop businesses are stringent and intended to test traders’ discipline, risk management, and trading acumen.

Ascendx Capital Broker: Do They Use a Reliable Platform? 

Only Taurex, a third-party brokerage, is used by Ascendx Capital to provide our traders with an assessment environment that has the following features:

1. Rich Institutional Trading Experience: Taurex replicates the institutional trading experience.

2. Prime Liquidity: Having access to prime sources of liquidity guarantees ideal trading circumstances.

3. Ultra-low Latency: Traders may execute orders quickly thanks to ultra-low latency.

4. Raw Spreads: Competitive pricing is provided by raw spreads, which begin trading at 0.1 pip.

5. Commission-Free Trading: By enabling commission-free trading, the platform lowers trading expenses.

6. Diverse Offerings: FX, indices, and commodities are just a few of the trading instruments that Taurex offers.

These characteristics work together to provide a trading atmosphere that upholds professionalism and dependability at all times while assisting the traders around us in their pursuit of success.

Ascendx Capital Fees: How Much Do They Charge? 

The maximum lot exposure for qualified trader accounts is decided by the size of the account. The maximum lot exposures for each account size are displayed in the following table:

Investment Amount	Maximum Lots
$10,000	5 Lots
$25,000	10 Lots
$50,000	20 Lots
$100,000	40 Lots
$200,000	80 Lots

On eligible trader accounts, traders can ask for an increase in the limit. However, before we can approve such requests, we need sufficient trading data on their qualified trader account.

A static absolute drawdown with a 10% loss cap on the original beginning balance defines the maximum total loss. For example, the maximum permissible loss is $10,000 if the evaluation is worth $100,000. If the equity or account balance is less than $90,000 at any time, this rule is violated. The system will automatically terminate all trades and close the account if the minimum equity limit is achieved.

The entire amount of trading opportunities is $400,000. When it comes to evaluation and qualified trader accounts, traders can keep multiple accounts open at the same time if their allocation is less than $400,000. They can replicate transactions and use the same tactics on all of these accounts.

Traders can still manage numerous accounts at once, including qualified trader accounts and evaluation accounts, with a $400,000 maximum allotment. However, trading tactics are not transferable between accounts. Every individual account needs to be managed using a different approach. Furthermore, a $200,000 limitation is placed on the combined account limit.

Thus, Forex prop trading fees refer to the costs associated with participating in a proprietary (prop) trading firm’s program, particularly those that offer traders the opportunity to trade the firm’s capital. These fees are a critical aspect of the business model for many forex prop firms, especially those that run challenge or evaluation programs to vet potential traders. Here’s a breakdown of the types of fees that traders might encounter:

1. Challenge Fees

These are upfront fees paid by traders to enter into a trading challenge or evaluation program. The challenge is essentially a test that evaluates a trader’s ability to generate profits while adhering to specific risk management rules. If successful, the trader is usually offered the opportunity to trade with the firm’s money. Challenge fees can vary significantly depending on the firm, the size of the demo account provided for the challenge, and the complexity of the challenge itself.

2. Account Setup or Administration Fees

Some prop firms may charge a one-time setup fee for creating and managing a trader’s account. This fee might cover the administrative costs associated with setting up the trading infrastructure, account monitoring, and other backend services necessary for the trader to begin trading.

3. Monthly Desk Fees

Desk fees are akin to rental fees for the physical or virtual space and resources (like software, data feeds, and trading tools) provided by the prop firm. While more common in traditional prop firms that offer physical trading desks, some online forex prop firms might also charge a monthly fee for access to premium trading platforms or tools.

4. Profit Split

While not a fee per se, the profit split arrangement is a significant financial consideration in prop trading. After successfully passing a challenge, traders are allowed to trade with the firm’s capital, and any profits generated are split between the trader and the firm according to a predetermined ratio. Common splits might be 70/30 or 80/20, favoring the trader. Understanding the profit split terms is essential as they directly affect the trader’s potential earnings.

5. Software or Data Fees

In some cases, traders might need to pay additional fees for access to specialized trading software, real-time data feeds, or analytical tools that are not included in the basic package offered by the prop firm.

6. Education or Training Fees

Some prop firms offer educational courses, mentoring programs, or trading workshops. These might be optional or required parts of the trading program, with fees varying widely based on the content’s depth and duration.

Key Considerations

– Value for Money: Traders must assess whether the fees charged by a prop firm offer good value for the services provided, especially in terms of the trading capital access, technology, and support offered.

– Transparency: Reputable prop firms are transparent about their fee structure, with no hidden charges. Traders should thoroughly review all terms and conditions before committing.

– Risk: While paying fees for a chance to trade with significantly more capital can be appealing, traders should consider the risk of not passing the challenge and the potential loss of the fee paid.

Forex prop trading offers a unique opportunity for traders to leverage more substantial capital than they might otherwise access. However, understanding the fee structure is crucial to making an informed decision about which prop firm to engage with.

Ascendx Capital Proof of Payment:

Wise offers the handy option of receiving performance fees through bank wire transfers. Through cooperation with a deliverable FX institution, we can provide our clients with a competitive exchange rate cost of 0.3% when they get their performance fees in their home currencies. Please use the dashboard profile to submit requests for performance fee distributions.

In addition, Ascendx Capital takes cryptocurrencies like XRP, BTC, USDC, and ETH as substitute payments for performance fees. With so many possibilities available, traders can get their earnings in a way that best suits their requirements and tastes thanks to this adaptable method.

Ascendx Capital Customer Support: 

At Ascendx Capital, traders’ success comes first. Our dedication is to help traders achieve their trading goals by providing the tools and guidance they need to successfully negotiate the complexities of the financial markets. 

To inquire about collaborations, Ascendx Capital, or to receive more information, please use the following ways to get in touch with us:

• Email address: ascendxcapital.com/enquiries
• Address: 77 Marsh Wall, Sierra Quebec Bravo, London Canary Wharf E14 9SH.

What Makes Ascendx Capital Unique? 

Purchasing and trying an evaluation does not require any prior trading experience. It’s crucial to remember that it’s unlikely to pass an evaluation without any prior trading expertise. For those who are new to trading, Ascendx Capital suggests visiting their academy part and finishing the instructional courses designed by pros in the field to enhance the comprehension of the trading procedure.

The following are the profit targets that must be met for each evaluation phase:

• Phase 1: Aim for a total profit of 7%
• Phase 2: Aim for a total profit of 5%

These goals are established by an account’s opening balance. The Phase 1 profit target, for instance, would be $7,000 if their beginning amount was $100,000. The trader’s account balance must equal $107,000 to pass, including account equity, which means that all positions must be closed.

Ascendx Capital Reviews: What Do Their Customers Say?

Ascendx Capital has rated 4.7 stars out of 5 on Trustpilot, where 51 consumers have left reviews.  

#1. JAMAL Trader reported that they have excellent quick support that is available around the clock! Fantastic trading circumstances. Huge earnings split ratio with a low challenge aim during phase 1 and it’s not the only thing. Extremely prompt payment on the same day, without any issues. Just make sure to follow their trading guidelines and that they will receive their compensation. He is aware of this because the same day he split his profits after completing the task and making money. No queries were posed. One major participant on the horizon is AscendxCapital. Continue with this player. Traders will be eternally grateful to him!

#2. Elmemahatgmail.com said that he purchased their $25k challenge. He can tell that they received an account very quickly during stages 1 and 2, even within an hour. They just need to improve during the funded phase. Kyc and the funded account were ready a little later, but they responded appropriately and did their best to answer all of his questions. Since he is in the funded phase, he will update us if he is eligible for withdrawal, and we will see if they paid. Thank you.

#3. According to Adam Alrajjoub, the daily loss cap in all prop firms is 5%, and it will drop below 5% if it does. Furthermore, they don’t have any profitable floating jobs open. Naturally, we might lose the account, but if you have lucrative floating positions and the equity does not drop below 5%, this indicates that you have most likely not exceeded the daily maximum loss, which also applies to the 10% drawdown. 

This rule resulted in the loss of my account. This rule is misleading. They disregarded my suggestion that following this regulation would hurt them. If he can, they will give him a rating lower than one star.? he would never suggest this prop company.

It makes sense that their rule states that if the balance is $100,000, it cannot fall below $95,000,000. Assuming it has reached less, let’s move forward. Although there has undoubtedly been abuse of the account, they still have 97,0000 floating equity positions. 

Is there a belief that something has been wrong with the account? Since their balance fell below 95,000 without accounting for equity in the aforementioned scenario, they view it as having been breached. The balance is safeguarded by equity. The account has already been breached if the balance falls below 5% and there are no floating ++ positions here.

Conclusion

Ascendx Capital is dedicated to being the top proprietary trading platform for experienced traders worldwide. They provide a variety of funding choices because they are aware of the challenges traders encounter while trying to obtain the necessary money. This gives traders the option to choose the challenge that best fits their requirements.

Ascendx Capital’s purpose is to advance proprietary trading and push the envelope of what is possible in the financial markets. By giving dedicated traders the resources and encouragement they require to be successful, they hope to establish the best possible trading community.

Ascendx Capital is a lantern for traders looking for seasoned and trustworthy assistance because it works to create an atmosphere that is favorable to growth and success. They distinguish themselves as a special and useful resource in the trading industry with their commitment to trader success and creative approach to funding programs and problems.