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In a Nutshell: AudaCity Capital puts forex traders on a pathway to success with its training programs. The company charges an initial fee for the training, and a monthly fee afterwards to trade with AudaCity’s funds. Interested traders should have a basic understanding of economics and trading in the foreign exchange market. AudaCity sets its traders up with $15,000 to trade with as soon as they complete the training program. Traders earn half of the profits they generate, with increases in funding after continued success trading forex.
Many Americans who were out of work and had fewer options to spend money, turned to the stock market during the Covid pandemic as a way to earn some extra cash. A 2021 study showed that 1 in 5 Americans invest in the stock market, creating a demand for people to earn money working from home on their own schedule.
One option to fulfill that demand is trading on the foreign exchange (also known as forex) market, a global marketplace for exchanging national currencies. Forex trading is generally less regulated than stock trading and forex markets have higher margin limits and are more liquid than stocks because traders are exchanging different currencies.
The forex market operates 24 hours a day, five days a week globally. Trading is not limited to the United States or Europe. Traders come from all over the world, including Asia and Australia.
It can be difficult to get started, however, without access to the trading platform, training, or funds. That is where AudaCity Capital comes in.
AudaCity Capital is a proprietary forex trading firm based in the United Kingdom that helps inexperienced traders become forex experts. The firm trains traders over a month-long course with instant access to $15,000 in funds as soon as they complete the course.
Traders interested in joining AudaCity’s program do not need a degree, but the firm said they do need to have the correct attitude and work ethic to be able to turn trading into a full-time career. The program will teach traders how to manage emotions, control risk, and how to develop a trading philosophy to understand strengths and weaknesses.
“We provide an environment where if someone puts in the work and effort to succeed, you get everything you need to know to understand forex,” Matthew Jackman, AudaCity Capital’s Head of Operations said. “We show how to manage risk, emotions, and how to apply a plan to profit from the markets.”
Offering Training From Home or In Person
AudaCity Capital’s training program puts traders in a position to earn money as soon as they finish the month-long course. Unlike its competitors, AudaCity sets its traders up with a real $15,000 account, not a demo account with fake money.
Traders receive half of the profits they generate. Opportunity for growth also comes with generating profits, as AudaCity doubles the account sizes for traders who make at least a 10% profit.
AudaCity Capital offers a one-month training course in-person or online, which costs a total of £3000, however this can be split into two separate payments and also guarantees the trader access to a $15,000 account on completion of the mentorship.
The prop firm also offers a direct route to funding for experienced traders who do not need training before accessing the live capital. These applicants, if approved through an interview process, only need to pay an initial fee of £298 (about $343), and a £99 (about $114) fee per month to cover the costs of live trading.
The in-person program allows traders in the United Kingdom to observe other traders on the floor and observe the best methods for trading. Training takes place for about eight hours a day during normal work hours.
The online course allows traders to take the lessons from home through Zoom video sessions. AudaCity expects traders to be available for two to three Zoom calls a day, with additional studying afterwards.
AudaCity provides traders the best opportunity to maximize profits by providing traders with a structure in which to work within the live capital environment. The biggest enemy of a trader can often be themselves and having this structure in place will aid the trader to achieve consistent results.
Traders are not liable for any losses they incur on the account. AudaCity Capital sees loss as a learning experience, and as long as traders can avoid making the same mistakes, they can continue trading.
AudaCity Capital does not charge its traders on commissions or swaps on trades. The firm said traders will save money over time because they do not see fees from their trades, they only have to pay the £99 monthly fee.
“We’re teaching a lot of different concepts and risk management theories,” Jackman said. “We train traders, but also apply what they learn because we need to understand what’s working for them and what isn’t working so we can develop a strategy and a plan.”
Providing Opportunity to See Instant Results
AudaCity Capital funds traders from all over the world. Its accessibility allows traders to trade from wherever they are with the firm’s accounts.
AudaCity doubles its traders’ account size with every 10% profit up to $480,000. Traders do not need to prove their worth through challenges or demo accounts. Every exchange a trader makes is real and an opportunity to make money.
Many of the firm’s competitors make its traders use demo accounts and pay its traders from fees they make charging other people to go through the training process. AudaCity said that this can provide a difficult environment for traders to be successful as trading is difficult enough as it is, without the added complexity of using demo environments and challenges.
“It’s a very different business model from ours because it’s a model based on generating profits from fees rather than actually profiting from successful traders,” Jackman said. “We’re on the side of the trader rather than the flip side.”
Traders with AudaCity Capital have the resources that provide deep access into the forex market with tight spreads and fast execution to capitalize on transactions. Market volatility has a tendency to keep people away from investing or engaging with markets, but AudaCity sees volatility as an opportunity.
The firm said its traders can still be successful when the market is mostly down. Since the Covid pandemic began, AudaCity has seen an increase in the number of people hitting profit targets.
After completing the month-long course, traders start with trading currency through the foreign exchange market. When their accounts reach $120,000 in funding from AudaCity’s fast-scaling system, traders can apply to add indices and commodities to their account.
“When you’re producing consistent results, then you can apply to add indices and commodities,” Jackman said. “Our risk management team will make the decision based on multiple factors. Once they become more experienced traders, it’s definitely something that we look into for them.”
Making Forex Trading More Accessible
AudaCity helps its traders build their confidence in gaining profits and understand how to manage losses. The firm said inexperienced traders without a firm’s help and guidance often break rules within their trading plans and try to recoup their losses by making poor decisions.
AudaCity Capital wants to build people up to where they can trade with the most allowance and make good money for themselves and the company.
“Our traders learn the best from live trading because they make mistakes, and mistakes are so important,” Jackman said. “Especially at the start of your journey, learning from mistakes and applying what you’ve learned with the support of your mentor will make you more accountable.”
The firm is looking into making its programs more accessible. To provide interested traders an opportunity to trade on the forex market, AudaCity will be launching short-term course programs.
AudaCity said the programs are a condensed version of their month-long training program. The courses are two days long and feature in-person training on the firm’s trading floor.
Traders can learn the forex market firsthand and apply what they learn as they go. A second two-day course will also be available for more advanced topics.
After each program, traders will take part in weekly group sessions with a mentor to make sure they are applying what they have learned. The programs focus on helping traders build a strategy with a small live trading account.
“It’s not always possible for students to take a month off of work to do a training program and start trading,” Jackman said. “We need to make it accessible to as many people as we can. That’s what we’re really excited about.”