If you’re interested in forex trading, you’ve probably come across True Forex Funds. As a leading prop trading firm, True Forex Funds offers traders the opportunity to access significant amounts of capital and potentially trade with millions of dollars. But is it worth it? In this True Forex Funds review, we’ll take a closer look at what the firm has to offer and help you decide if it’s the right choice for you.
First, let’s talk about what prop trading is. Prop trading, or proprietary trading, is when a firm invests its own money in the markets rather than using client funds. This means that prop trading firms like True Forex Funds can offer traders access to much larger amounts of capital than they would be able to access on their own. In return, the firm takes a share of the profits that the trader earns. True Forex Funds is one of the most well-respected prop trading firms in the industry, and its traders have access to a wide range of trading tools and resources to help them succeed.
So, what sets True Forex Funds apart from other prop trading firms? One of the key features of the firm is its One Phase Evaluation Funding Challenge, which allows traders to get full funding in just five trading days with a 10% profit target and a maximum daily loss limit of 3%. The firm also offers spreads from 0.0 pips and, on average, much lower spreads on their instruments, and traders can use the widely known MetaTrader 4 and 5 platforms as well as cTrader. In addition, True Forex Funds has a strong reputation for providing excellent support and guidance to its traders, helping them to develop their skills and achieve success in the markets.
Understanding True Forex Funds
True Forex Funds is a proprietary trading firm based in Hungary. They offer a funding program for traders who want to access their capital to trade the markets. The company provides traders with a fully personalized dashboard where they can access a wide variety of leading market products and services.
As a prop firm, True Forex Funds evaluates traders based on their performance and provides funding to those who pass their evaluation. Once a trader becomes a funded trader, they can access True Forex Funds’ capital to trade the markets with a maximum daily loss limit of 3%.
True Forex Funds offers a One one-phase evaluation Funding Challenge, which requires a 10% profit target in just five trading days. This is lower than the combined targets of the Two-Phase Challenge. The Quick Funding offer is available with all account sizes, with the registration fee starting at €98 for a $10,000 account.
The company offers educational topics to traders to help them excel in trading the markets. They also provide traders with a clear understanding of the complexities of the forex market and the critical decision of selecting the right currency pairs to trade.
In summary, True Forex Funds is a reputable company that provides traders with a funding program to access their capital to trade the markets. They offer a personalized dashboard, educational topics, and a reasonable maximum daily loss limit.
Trading with True Forex Funds
When it comes to trading forex, True Forex Funds offers a comprehensive and supportive platform for traders of all levels. The company provides a range of account options to suit different trading styles and objectives. Whether you’re new to trading or an experienced professional, True Forex Funds has a trading account that can meet your needs.
One of the key benefits of trading with True Forex Funds is the platform itself. The company offers the widely used MetaTrader 5 trading platform, which is known for its advanced charting capabilities and user-friendly interface. This platform is available on desktop, mobile, and web, so you can trade from anywhere at any time.
Another advantage of trading with True Forex Funds is the trading conditions. The company offers tight spreads from 0.0 pips, which can help you maximize your profits. Additionally, True Forex Funds offers competitive leverages and a range of trading instruments, including forex, commodities, and indices.
If you’re looking to start a career in trading, True Forex Funds offers a unique opportunity to become a funded trader. The company’s evaluation process is designed to help you develop your skills and prove your trading abilities. Once you pass the evaluation, you can start trading with a funded account and keep up to 80% of your profits.
True Forex Funds also offers a supportive community of traders who can help you learn and grow as a trader. The company provides educational resources and regular webinars to help you improve your trading skills and stay up-to-date on market trends.
In terms of trading careers, True Forex Funds offers a range of opportunities for traders who are looking to take their careers to the next level. Whether you’re interested in becoming a portfolio manager or a risk manager, True Forex Funds can help you achieve your goals.
Overall, if you’re looking for a reliable and supportive platform to trade forex, True Forex Funds is a great option. With competitive trading conditions, a user-friendly platform, and a supportive community of traders, True Forex Funds can help you achieve your trading objectives.
Account Features
True Forex Funds offers two types of accounts: Standard Account and One Phase Account.
Standard Account
The Standard Account follows a traditional evaluation process, with a minimum of 5 trading days within a 30-day span in Phase 1 and another minimum of 5 trading days within a 60-day span in Phase 2. Traders can purchase the Standard Account for €998 and start trading with $200,000 in buying power. The account size can be increased up to $2,000,000 by reaching the profit targets and following the rules of the evaluation process.
One Phase Account
The One Phase Account allows traders to pass only one phase to be funded, resulting in faster funding. In just 5 days, you can get full funding with True Forex Funds. The account has a 10% profit target, which is lower than the combined targets of the Two-Phase Challenge. The maximum daily loss limit is 3%, which is a reasonable limit to fuel your further success. You can purchase the One Phase Account for €1,498 and start trading with $200,000 in buying power. The account size can be increased up to $2,000,000 by reaching the profit targets and following the rules of the evaluation process.
Funded Account
Once you pass the evaluation process, you will get a funded account with True Forex Funds. The funded account has a minimum account size of $10,000 and a maximum account size of $2,000,000. The profit split is 80/20, which means you will receive 80% of the profits, and True Forex Funds will receive 20%.
Minimum Deposit
The minimum deposit required to start trading with True Forex Funds is €998 for the Standard Account and €1,498 for the One Phase Account. There are no hidden fees or charges, and you can withdraw your profits at any time.
In summary, True Forex Funds offers two types of accounts with different evaluation processes and profit targets. The funded account has a minimum account size of $10,000 and a maximum account size of $2,000,000 with an 80/20 profit split. The minimum deposit required to start trading is €998 for the Standard Account and €1,498 for the One Phase Account.
True Forex Funds Evaluation Process
When it comes to evaluating your trading skills, True Forex Funds has a comprehensive and transparent evaluation process that ensures you are ready to become a funded trader. The evaluation process is designed to help you demonstrate your trading skills and strategies, and it consists of two phases.
Phase 1
Phase 1 is the first step in the evaluation process. It sets achievable trading objectives as stepping stones toward the ultimate goal of becoming a funded trader. True Forex Funds takes an inclusive approach for all traders in Phase 1 across all account types – Standard, Quick Funding, and Timeless Funding. There are common objectives that traders must meet in order to progress to Phase 2.
Phase 2
Phase 2 is the final step in the evaluation process. It is designed to test your ability to manage risk and generate consistent profits. Once you have successfully completed Phase 2, you will become a funded trader with True Forex Funds.
Evaluation Challenge
True Forex Funds offers a One-Phase Evaluation Funding Challenge, which is a great option for traders who want to get funded quickly. The challenge has a 10% profit target, which is actually lower than the combined targets of the Two-Phase Challenge. In just 5 days, you can get full funding with True Forex Funds. The maximum daily loss limit of 3% is a reasonable limit to fuel your further success.
Registration Fee
True Forex Funds charges a registration fee for its evaluation process. The registration fee for the One-Phase Evaluation Funding Challenge starts at €98 for a $10,000 account. Just like with their Standard account, once you pass the evaluation and become a Funded Trader, the total registration fee is refundable with the first profit split.
Free Retries
True Forex Funds offers free retries for traders who do not pass the evaluation process on their first attempt. This allows traders to continue to improve their skills and strategies without incurring additional costs.
Overall, True Forex Funds’ evaluation process is transparent, fair, and designed to help traders succeed. With a variety of account types and evaluation options, traders can choose the best path for their individual needs and goals.
Profit and Loss Rules
When trading with True Forex Funds, it is important to understand their Profit and Loss Rules. These rules are in place to help manage risk and ensure that traders are trading in a disciplined manner.
Daily Loss Limit
True Forex Funds has a daily loss limit of 5% based on equity. This means that if you have a $50,000 account, your daily loss limit would be $2,500. If you reach this limit, you will not be able to trade for the rest of the day.
Overall Loss Limit
In addition to the daily loss limit, True Forex Funds also has an overall loss limit of 10%. This means that if your account reaches a 10% loss, your account will be closed, and you will not be able to trade with True Forex Funds again.
Profit Targets
True Forex Funds has a profit target of 10% for their One-Phase Evaluation Funding Challenge. This is lower than the combined profit targets of their Two-Phase Challenge. Traders must reach this target within a set number of trading days to receive full funding.
Drawdown Rules
True Forex Funds has drawdown rules in place to ensure that traders are not taking on too much risk. If your position reaches a 3% drawdown before midnight CET, you will only be able to lose an additional 2% to stay within the daily loss limit. However, if your position runs overnight and reaches a 3% drawdown at midnight CET, the drawdown is reset.
Overall, True Forex Funds’ profit and loss rules are designed to ensure that traders are managing risk and trading in a disciplined manner. By following these rules, traders can increase their chances of success and receive full funding from True Forex Funds.
Market and Trading Instruments
True Forex Funds offers a wide range of trading instruments to its traders. You can trade forex, cryptocurrencies, indices, metals, commodities, currency pairs, and stocks. The platform provides access to over 80 currency pairs, including major, minor, and exotic pairs.
The platform offers raw pricing, which means that you get the best possible pricing with spreads starting from 0.0 pips on both platforms. This makes it an excellent choice for scalpers and day traders who need tight spreads to maximize their profits.
You can also trade cryptocurrencies with True Forex Funds. The platform allows you to trade Bitcoin, Ethereum, Litecoin, and Ripple. Trading cryptocurrencies during the weekend is also welcome, providing you with the flexibility to trade when it suits you.
True Forex Funds also offers access to a range of indices, including the S&P 500, Nasdaq, Dow Jones, and FTSE 100. This allows you to trade on the performance of the world’s most prominent stock markets.
Additionally, you can trade metals such as gold, silver, and platinum, as well as commodities like oil, gas, and wheat. This provides you with a range of options to diversify your portfolio and minimize your risk.
Ultimately, True Forex Funds offers a wide range of trading instruments, making it an excellent choice for traders who want to trade a variety of assets. The platform’s raw pricing, coupled with its flexibility, makes it an attractive option for both novice and experienced traders.
Support and Customer Service
True Forex Funds prides itself on offering exceptional customer support to its traders. You can reach their customer service team via email, live chat, or through their social media channels. Their customer support is available 24/5, which means there is always someone available to help you with any questions or concerns you may have.
Their customer service team is knowledgeable, professional, and always ready to assist you with any issues you may encounter. They are quick to respond to your inquiries, and they will work with you to resolve any problems you may have.
In addition to their customer service team, True Forex Funds also offers an extensive FAQ section on their website. This section covers a wide range of topics, from account opening to trading strategies. If you have a question, chances are you will find the answer in their FAQ section.
Overall, True Forex Funds offers excellent customer support and service. They are committed to helping their traders succeed, and they will do everything in their power to ensure that you have a positive trading experience.
True Forex Funds Platform and Execution
True Forex Funds offers the popular MetaTrader 4 and 5 platforms for trading. These platforms are widely used in the industry and offer a range of features such as advanced charting, order types, and customization options. Additionally, the firm offers cTrader, a platform that is known for its fast execution speeds and advanced order types.
The execution speeds at True Forex Funds are very fast, with the firm boasting an average latency of less than one millisecond. This means that your orders are executed almost instantaneously, ensuring that you can take advantage of market movements as soon as they occur.
The dashboard at True Forex Funds is user-friendly and provides all the necessary information in a clear and concise manner. You can view your account balance, equity, margin, and open positions all in one place. Additionally, you can access your trading history and account statements directly from the dashboard.
Overall, True Forex Funds provides a solid platform and execution experience for traders. With fast execution speeds, a user-friendly dashboard, and a range of advanced order types, the firm is well-equipped to handle the needs of both novice and experienced traders.
Reviews and Trustworthiness
When it comes to evaluating the trustworthiness of an online trading platform like True Forex Funds, it’s important to consider the reviews and feedback from other traders. One popular platform for reviewing companies is Trustpilot. Currently, True Forex Funds has a 4.7 out of 5-star rating on Trustpilot, with many positive reviews praising the company’s fast funding process and helpful customer service.
However, it’s important to note that not all reviews are positive. Some negative reviews mention issues with the platform’s trading rules and limitations, while others express concerns about the legitimacy of the company.
So, are True Forex Funds legit? The company is registered in Hungary and claims to be a proprietary trading firm that provides funding to traders. While some negative reviews may raise concerns about the company’s legitimacy, it’s important to note that no evidence of a scam or fraudulent activity has been found.
Overall, it’s important to do your own research and carefully consider the reviews and feedback from other traders before deciding to use True Forex Funds or any other online trading platform.
Payouts and Profit Sharing
When it comes to payouts and profit sharing, True Forex Funds is a firm that offers some of the most competitive rates in the industry. The firm operates on a bi-weekly payout cycle, ensuring traders receive their earnings every 14 calendar days. This cycle commences after your first position is opened on a funded account, and payout notifications will be sent via email.
True Forex Funds offers a profit split of up to 80% to traders, depending on their performance. This means that traders can earn up to 80% of the profits they generate, with the remaining 20% going to the firm. The profit split is calculated based on a trader’s account size and performance, with higher account sizes and better performance leading to higher profit splits.
In addition to the profit split, True Forex Funds also offers a range of payout methods to traders. Traders can choose from a variety of payment options, including wire transfer, Skrill, Neteller, and PayPal. The firm even processes withdrawals over the weekend to ensure timely payouts.
It’s important to note that traders must meet certain requirements in order to be eligible for payouts and profit sharing. Traders must adhere to the firm’s risk management guidelines and trading rules and must also maintain a minimum account balance. However, if traders are able to meet these requirements, they can expect to receive some of the most competitive payouts and profit-sharing rates in the industry.
Overall, True Forex Funds is a firm that offers excellent payouts and profit sharing to its traders. With a profit split of up to 80% and a range of payout methods available, traders can expect to earn a significant amount of money if they are able to meet the firm’s requirements and perform well.
Additional Features
True Forex Funds offers a variety of additional features that can enhance your trading experience. Here are a few of them:
Expert Advisors (EAs)
EAs are automated trading bots that can execute trades on your behalf. True Forex Funds allows the use of EAs on their platform, which can be a helpful tool for traders who want to automate their trading strategies.
Indicators
True Forex Funds offers a wide range of indicators that can help you analyze the market and make more informed trading decisions. These indicators include moving averages, Bollinger Bands, and MACD.
Spread and Slippage
True Forex Funds offers competitive spreads on their instruments, with spreads as low as 0.0 pips. However, it is important to note that spreads can vary depending on market conditions. Slippage can also occur during volatile market conditions, which is when the price at which your trade is executed differs from the price at which you placed your order.
Leverage
True Forex Funds offers leverage of up to 1:1000, which means that you can potentially trade with much larger amounts of capital than you have in your account. However, it is important to use leverage responsibly and be aware of the potential risks involved.
Overall, True Forex Funds offers a variety of additional features that can enhance your trading experience. Whether you are a beginner or an experienced trader, these features can help you make more informed trading decisions and potentially increase your profits.
Partnerships and Collaborations
True Forex Funds has established strategic partnerships and collaborations with various entities to enhance its trading services and provide more opportunities to its traders. Here are some of the notable partnerships and collaborations:
- Tier-1 Liquidity Providers: True Forex Funds partners with top-tier liquidity providers to offer its traders the most competitive spreads and reliable execution. The firm does not disclose the names of its liquidity providers to the public, but it assures its traders that they are reputable and trustworthy.
- MetaTrader 4 and 5: True Forex Funds supports both MetaTrader 4 and 5 platforms, which are widely used by traders worldwide. These platforms offer advanced charting tools, customizable indicators, and automated trading capabilities. True Forex Funds also provides its traders with free VPS hosting for their MetaTrader accounts, ensuring that their trading strategies run smoothly 24/7.
- cTrader: True Forex Funds is currently working on integrating cTrader, a popular ECN trading platform, into its offerings. This platform is known for its transparent pricing, fast execution, and advanced order types. True Forex Funds expects to launch cTrader in the near future, giving its traders more options and flexibility.
- TradingView: True Forex Funds has partnered with TradingView, a leading social trading platform, to provide its traders with access to a wide range of trading ideas, indicators, and analysis tools. TradingView also allows traders to share their own ideas and collaborate with other traders in a community-driven environment.
- Trading Education Providers: True Forex Funds collaborates with various trading education providers to offer its traders access to high-quality educational resources. These resources cover a wide range of topics, from basic trading concepts to advanced strategies. True Forex Funds believes that educating its traders is essential to their long-term success.
Overall, True Forex Funds’ partnerships and collaborations demonstrate its commitment to providing its traders with the best possible trading experience. By working with reputable entities and integrating cutting-edge technologies, True Forex Funds aims to stay at the forefront of the forex trading industry.
Transparency and Business Model
True Forex Funds prides itself on its transparent business model, which is designed to empower traders of all levels with state-of-the-art technology and unparalleled opportunities. The company’s mission is to build the most transparent model in prop trading, and it has achieved this by offering a profit split system where 80% of closed profits from funded accounts go to the traders, while the remaining 20% helps cover True Forex Funds’ expenses.
One of the key benefits of True Forex Funds’ business model is that it offers traders a level playing field with no minimum trading days and timeless funding. This means that traders can get funded sooner and without any time limit. Furthermore, the company’s One Phase Evaluation Funding Challenge is designed to help traders achieve full funding in just five days, with a maximum daily loss limit of 3%.
True Forex Funds operates on a bi-weekly payout cycle, ensuring traders receive their earnings every 14 calendar days. The company even processes withdrawals over the weekend to ensure timely payouts. This cycle commences after your first position is opened on a funded account, and payout notifications will be sent via email.
In summary, True Forex Funds’ transparent business model and profit split system make it an attractive option for traders of all levels. The company’s commitment to fairness and timely payouts ensures that traders can focus on what they do best – trading – without having to worry about the reliability of their funding source.
True Forex Funds vs Other Prop Firms
When it comes to proprietary trading firms, there are many options available. However, not all prop firms are created equal. In this section, we will compare True Forex Funds with other prop firms in the industry.
Firstly, True Forex Funds offers one-phase funding, which means that you can get funded sooner compared to other prop firms that require multiple phases of funding. Additionally, True Forex Funds has no time limit for their funding, which gives traders more flexibility and less pressure to perform within a certain timeframe.
Compared to other prop firms that charge traders for their evaluation process, True Forex Funds offers a free evaluation process. This means that you can try out their evaluation process without any financial risk.
Another key difference between True Forex Funds and other prop firms is their profit-sharing arrangement. True Forex Funds offers an 80% profit split for every funded account, which is a standard rate. In contrast, other prop firms like FTMO offer a 90% profit split, but it is only attainable after the 4th month, and the trader must meet the scaling plan conditions. This can be a challenge for some traders to achieve consistency and reach the 90% profit split.
Finally, True Forex Funds is committed to transparency in its model of prop trading. They offer a simple yet powerful mission to build the most transparent model in prop trading. In contrast, some other prop firms charge traders a percentage of their profits, which can incentivize traders to increase trading volume regardless of whether the trades are profitable or not.
Overall, True Forex Funds stands out from other prop firms in terms of their one-phase funding, free evaluation process, standard profit split, and commitment to transparency.
Conclusion
In conclusion, True Forex Funds is a reputable and reliable proprietary trading firm that was established in 2021 in Hungary, Central Europe. The firm has paid out over $54 million in all-time payouts and over $33 million in payouts in 2023 alone, which is a testament to its success and stability.
True Forex Funds offers a one-phase funding challenge that allows traders to get full funding in just five days with a 10% profit target and a maximum daily loss limit of 3%. The evaluation target is attractive, and there are no trailing drawdowns to worry about.
Moreover, True Forex Funds offers low spreads for forex trading success, making it an excellent choice for both novice and expert traders. The firm provides impressive low spreads, along with a broad product selection and no minimum.
Overall, if you are looking for a proprietary trading firm that offers excellent funding options, low spreads, and a broad product selection, True Forex Funds is an excellent choice. The firm’s reputation is backed by verified payouts, making it a reliable and trustworthy option for traders of all levels.