Ascendx Capital Review
So, let's begin our Ascendx Capital review. At Ascendx Prop Firm, we're not just a proprietary trading firm; we are a vibrant community of traders, analysts, and innovators dedicated to delivering an unmatched trading experience. We recognize the challenges and competitiveness of prop trading. Our commitment is focused on assisting traders in achieving their goals and securing high returns. We are firm believers that with the right support, mindset, technology, and risk management, anyone can become a successful trader.
- Automated trading (Expert Advisors) - YES
- Platform for trading - MetaTrader 4
- Leveraege - up to 1:100
- Participation cost - from $114
- Weekend holding positions - allowed
- Grid and martingale trading - disallowed
- Stop-loss Required - No
Go to the Ascendx Capital website >>>
Expert Advisors Suitable for this Prop Firm:
AscendX Capital Challenge
Receive funding up to $200,000 and enjoy an industry-leading 90% profit share on your earnings. Embark on your journey to financial freedom with Ascendx Capital, the only proprietary trading firm that offers traders exceptional conditions.
Ascendx Challenge
Ascendx Capital rules:
Profit Target. According to Ascendx Capital Rules to successfully pass an evaluation phase, withdraw profits, or scale up their trading account, traders must meet specific profit targets. For Phase 1, the profit target is set at 7%, while Phase 2 requires a target of 5%. Funded accounts necessitate a 1% profit achievement for withdrawals.
Maximum Daily Loss – Traders face a limit on the maximum amount they can lose in a single trading day without violating account conditions. For all account sizes, this cap is set at 4%.
Maximum Loss – The overall loss limit imposed on traders ensures they do not breach the account terms. The threshold for all account sizes is 7% AscendX Capital Challenge.
According to Ascendx Capital Rules Expert Advisors are allowed. You can use expert advisors to trade in this Prop Firm's funding programs without restrictions.
Stop Loss is not necessary. You can trade manually (using your own trading strategy) or trade with the help of an expert advisor, and you do not have to use Stop Loss orders. This will allow you to significantly increase your trading potential and not be afraid of violating the trading conditions of this AscendX Capital Challenge.
Participation cost:
- $10,000 - $114
- $25,000 - $230
- $50,000 - $354
- $100,000 - $588
- $200,000 - $1080
I'll be utilizing AscendX's $100k account funding evaluation to highlight their evaluation rules. They also offer funding options for $10k, $25k, $50k, and $200k accounts, with traders capable of holding up to $400k in funds.
AscendX Challenge
- 7% Profit Target for Phase 1 AscendX sets a competitive industry standard with a modest 7% profit target for the initial challenge phase. The second phase requires a 5% profit target, which aligns with the usual expectations of other verification rounds.
- 10% Drawdown Allowance, 5% Daily Drawdown This aligns with industry norms, offering no trailing drawdown. With a drawdown limit larger than the profit target, traders have substantial flexibility to manage risk effectively.
- No Time Limit Traders are afforded the flexibility to hit the profit target without time constraints. Whether through scalping, day trading, or swing trading, traders can risk their capital wisely to achieve their goals.
- Minimum 3 Trading Days For those who engage in scalping or can generate high returns on risk, AscendX offers a minimal trading day requirement, allowing traders the potential to become funded in just over a week.
- News Trading, Weekend Holding, & EA’s Allowed Traders have the liberty to keep positions open over the weekend and during news events, and can use Expert Advisors (EAs) without restrictions.
- 2 Minute Rule It's crucial to note that AscendX mandates that all trades must be held for more than 2 minutes. While breaching this rule doesn't result in challenge failure, it requires a challenge restart.
- $5/Round Lot Commission The commission rate is competitive, often outperforming those offered by many Forex brokers.
Managing a Qualified Trader Account (Funded Account) with AscendX
Unlike some firms that might impose stricter rules on funded accounts than advertised during the challenge, AscendX maintains clarity with its funded account rules. There's little variation from the challenge phase rules, except for a maximum lot size per trade, which is capped to prevent excessive trading or risk on single trades. For a $100k account, the maximum lot size allowed is 40 lots, though it remains unclear if this is per currency pair or for all trades in total.
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Ascendx Capital Review and Our opinion about AscendX Capital Challenge
In our AscendX Capital Review we can say that while some proprietary trading firms might offer lenient trading rules during challenge rounds only to introduce stricter, often unadvertised conditions for funded accounts—like mandating stop losses or a minimum number of weekly trades—maintains transparency with its Ascendx Capital Rules for funded accounts. The transition from challenge to funded phase shows little variation, except for a reasonable cap on maximum lot size per trade, which helps curb overtrading and excessive risk on single deal.
According to Ascendx Capital Rules for instance, with a $100k account, the maximum lot size allowed is 40 lots. However, it's not immediately clear from the FAQ whether this limit applies to 40 lots per currency pair or to all trades combined. This distinction is crucial for strategy planning and risk management.
Overall, in our AscendX Capital review we can say that Prop Firm presents a compelling option for Forex traders aiming to manage significant funds without pursuing lofty profit targets. The firm exemplifies a high standard of professionalism and offers some of the most attainable challenge requirements in the industry.
