Review
True Forex Funds
"Unlock Financial Potential: True Forex Funds for Optimal Returns"
"Unlock Forex Trading Capital: Pass 2-Phase Evaluation, Prove Profit Targets. True Forex Funds Seeks Disciplined Traders with Set Objectives."
True Forex Funds cordially invites you to partake in our comprehensive 2-Phase Evaluation Program, enabling you to showcase your outstanding trading skills and potentially access a substantial capital infusion. Upon successful program completion, you could potentially secure funding of up to $400,000, with the added advantage of having any potential losses safeguarded. We extend a warm invitation to join our esteemed proprietary trading firm, which is currently undergoing significant expansion.
At True Forex Funds, we actively support traders in their professional development and foster an environment that encourages career excellence. Traders enjoy the liberty to make trading decisions and maintain positions for their preferred durations, as we impose no restrictions on trading styles. Our primary emphasis is on managing loss limits, while our overarching goal is to attract proficient traders who consistently deliver results, rewarding them with an impressive 80% profit share as a gesture of our appreciation.
Who are True Forex Funds
True Forex Funds, headquartered in Hungary, is a recently established proprietary trading firm that has a clear mission of assisting aspiring traders with limited capital resources. They offer funding opportunities of up to $400,000, with traders receiving 80% of the profits generated. Moreover, through a strategic partnership with a tier-1 liquidity provider, traders can enjoy direct market access via a reputable brokerage.
Operating under the registered entity name True Proprietary Funds Kft., True Forex Funds has an official identification number of 08-09-033732 and a VAT identification number of HU27478930. Their physical offices are located at Móricz Zsigmond 1/B, ground floor 14, 9022 Győr, Hungary.
Funding Options
True Forex Funds offers its trader’s the following evaluation program accounts to choose from.
Evaluation program account
The primary objective of the True Forex Funds evaluation program account is to identify and reward dedicated and skilled traders for their consistent performance during a two-phase evaluation period. This program enables you to trade with a leverage of 1:100 and offers the flexibility to choose your account funding in either USD, EUR, or GBP.
During the first phase of the evaluation, traders must achieve an 8% profit target while adhering to the maximum daily loss limit of 5% and a maximum loss of 10%. Within 30 calendar days from the initiation of their first position in the evaluation account, traders are required to reach the specified profit goal. Furthermore, they must engage in a minimum of five trading days to progress to the second phase.
The second phase of the evaluation process involves traders attaining a 5% profit target without exceeding the maximum daily loss of 5% or the maximum loss of 10%. Traders must accomplish this profit target within 60 calendar days from the initiation of their first position in the evaluation account. As with the first phase, they must participate in a minimum of five trading days to qualify for a funded account.
Upon successfully completing both evaluation phases, traders will be granted a funded account, where profit targets are no longer applicable. Instead, they are required to adhere to the maximum daily loss of 5% and the maximum loss of 10% rules. The first payout will be issued 14 calendar days after the first position is placed in the funded account, followed by subsequent payouts on a bi-weekly basis. Traders will receive 80% of the profits generated from their funded account.
It’s important to note that True Forex Funds offers a unique opportunity for a free retry in both evaluation phases. If the trading period of a phase one account expires after 30 calendar days but the conditions for a free retry are met, the trader will receive new phase one login credentials on the following business day. Similarly, if the trading period of a phase two account expires after 60 calendar days but the conditions for a free retry are met, the trader will receive new phase two login credentials on the following business day, allowing them to proceed directly to phase two without starting over from phase one.
The evaluation program accounts also come with a scaling plan. Traders are required to achieve a profit target of 8% or more within a three-month period, with at least two out of the three months being profitable. Successfully meeting these criteria results in an account increase of 25% of the original account balance.
Example:
After 3 months: If you have a $200,000 account, your account balance will increase to $250,000.
After the next 3 months: The balance of $250,000 increases to $300,000.
After the next 3 months: The balance of $300,000 increases to $350,000.
And so on…
Trading instruments for the evaluation program accounts are forex pairs, commodities, indices, and cryptocurrencies.
Evaluation program account rules
- The profit target represents a specified percentage of profit that must be achieved by a trader before they can successfully complete an evaluation phase, withdraw profits, or expand their trading account. In Phase 1, the profit target is set at 8%, while in Phase 2, it is set at 5%. Funded accounts, however, do not have profit targets imposed on them.
- The maximum daily loss refers to the maximum amount of loss a trader is permitted to incur within a single day before their account is deemed in violation. For all account sizes, the maximum daily loss is capped at 5%.
- The maximum loss denotes the maximum aggregate loss a trader can experience before their account is considered in violation. Regardless of account size, the maximum loss allowed is 10%.
- The minimum trading days refer to the minimum duration for which a trader is required to actively engage in trading before they can successfully complete an evaluation phase or request a withdrawal. Both evaluation phases necessitate a minimum of 5 trading days. However, funded accounts do not impose any minimum trading day requirements.
- The maximum trading days represent the maximum duration within which a trader must achieve a specific profit target or withdrawal objective. Phase 1 allows a maximum trading period of 30 days, while Phase 2 allows a maximum trading period of 60 days.
- When considering third-party copy trading risk, it is important to be aware that utilizing a copy trading service from an external provider may involve other traders who are already employing the same trading strategy. Engaging in third-party copy trading introduces the potential risk of being denied a funded account or withdrawal if the maximum capital allocation rule is exceeded.
- Similarly, third-party EA risk arises when utilizing an EA (Expert Advisor) from a third-party provider, as there may be other traders utilizing the exact same trading strategy. Employing a third-party EA carries the potential risk of being denied a funded account or withdrawal if the maximum capital allocation rule is surpassed.
What makes True Forex Funds different
Compared to other proprietary trading firms, True Forex Funds has developed a comprehensive two-phase evaluation program that necessitates traders to successfully complete both phases to qualify for payouts. The initial phase sets a profit target of 8%, while the subsequent phase requires a 5% profit target. Additionally, traders must adhere to a specific set of rules, including a maximum daily loss of 5% and a maximum overall loss of 10%. Each phase requires a minimum of 5 days of active trading before a trader becomes eligible for funding. Moreover, True Forex Funds’ evaluation program features a scaling plan that sets it apart from other prominent proprietary firms, as it includes lower profit targets and more relaxed trading regulations.
In summary, True Forex Funds differs from most industry-leading proprietary firms by never imposing restrictions on your trading style. You can trade during news events, hold positions overnight, and even throughout weekends. Furthermore, the program offers lower profit targets and more lenient minimum trading day requirements during both evaluation phases.
Is getting capital realistic
When assessing proprietary trading firms that match your forex trading style, it’s vital to examine the viability of their trading requirements. For instance, while a company may appear attractive initially by offering a high profit split percentage on well-funded accounts, if they impose substantial monthly profit targets with minimal allowable drawdown percentages, your chances of success decrease significantly.
One can view the option of receiving capital from the evaluation program accounts as realistic, primarily due to their relatively moderate profit targets (8% in phase one and 5% in phase two), along with reasonable restrictions on maximum losses (5% maximum daily and 10% maximum loss).
After taking all factors into account, True Forex Funds stands out as an excellent choice for securing funding. The evaluation program accounts available through their platform encompass practical trading goals and requirements for payout eligibility.
Payment Confirmation: True Forex Funds is a reputable proprietary trading firm that was officially established in October 2021. There is substantial evidence of successful funding, as evidenced by various payment confirmations available on platforms like Trustpilot, where community members have shared positive testimonials. Furthermore, their Discord channel features numerous payout certificates from traders.
Once your initial trade is executed on your Funded Trader account, payouts are processed after a 14-day waiting period. You are entitled to an impressive 80% profit split. Payouts are efficiently processed on the same day, and if you choose not to withdraw your profits within 14 days, you can continue trading on your account until the next profit split. If you have no profits at the time of withdrawal, your trading period will be automatically extended.
Which brokers does it use
True Forex Funds doesn’t trade with common broker brands. They are partnered with a tier-1 liquidity provider that supplies the institutional data feed with the direct market access execution model on their live corporate accounts.
As for trading platforms, you can choose from the following:
- MetaTrader 4
- MetaTrader 5
True Forex Funds offer a large variety of trading Instruments. You are allowed to trade forex pairs, commodities, indices, and cryptocurrencies with up to 1:100 leverage.
Education and Support
True Forex Funds do not provide any additional educational programs.
True Forex Funds, on the other hand, has an active thread on ForexFactory where you can get some additional information about the prop firm from a wider range of their community.
True Forex Funds features an informative FAQ page where you may find the information you seek. If not, it is recommended to reach out to their support team or join their Discord channel for assistance.
The support team can be contacted through their social media channels or via email at support@trueforexfunds.com. They also offer live chat support during the hours of 7 AM to 3 PM (CE(S)T).
Joining their Discord channel is advised for ongoing communication and to stay updated with the True Forex Funds community.
Clients review
True Forex Funds receives excellent feedback from its community.
On Trustpilot, a wide array of community members provide positive feedback, contributing to an impressive overall score of 4.6 out of 5, derived from 941 reviews. The community often emphasizes the prompt and reliable customer support and the practicality of the system.
Most of the community expresses appreciation for the effectiveness of customer support and the transparency of the terms and conditions. Moreover, True Forex Funds presents clear trading goals and regulations.
Social media stats
True Forex Funds can also be found on social media.
They have a:
– Facebook page with 2,4,k followers,
– Instagram profile with 12,2k followers,
– Youtube channel with 1,77k subscribers with 6 uploaded videos and,
– Twitter account with 929 followers.
They also have a Discord channel with a community chat, payouts chat, support chat, and trade ideas chat where you can discuss different topics around True Forex Funds.
Conclusion
In brief, True Forex Funds is a well-regarded proprietary trading company that affords traders the opportunity to choose from a variety of evaluation program account sizes. These evaluation programs involve a widely recognized two-phase assessment challenge, necessitating the successful completion of both phases in order to secure funding and eligibility for profit sharing. True Forex Funds stipulates that traders must attain profit goals of 8% in the first phase and 5% in the second phase prior to receiving funding. These targets are practical trading objectives, particularly when adhering to the 5% maximum daily and 10% maximum loss guidelines. Participation in these evaluation programs allows traders to earn 80% of the profits and offers the potential for account growth.
I wholeheartedly endorse True Forex Funds for individuals in search of a proprietary trading firm with well-defined trading regulations. They are a reputable proprietary trading company that provides favorable conditions for a diverse array of traders with varying trading styles. After a thorough evaluation of all that True Forex Funds has to offer, it is clear that they are among the top proprietary trading firms in the industry.
