True Forex Funds, a rapidly expanding prop trading firm, specializes in empowering underfunded but ambitious traders. They offer up to $400,000 in funding to those who successfully navigate their two-phase evaluation. Once you pass, rest assured, any losses are on them!
At True Forex Funds, the focus is on trader success. You have the freedom to trade on your terms and hold positions for as long as you wish – your trading style remains unregulated. Their primary concern is keeping within loss limits. Their ultimate aim? To partner with consistently profitable traders, rewarding them generously with an impressive 80% share of the profits.
Who are True Forex Funds?
True Forex Funds, a notable proprietary trading firm based in Hungary, offers a unique opportunity for driven traders who lack sufficient capital. They provide up to $400,000 in funding and an appealing profit split of 80%. The firm is known for its partnership with a tier-1 liquidity provider, ensuring simulated real market trading conditions of the highest caliber.
Officially registered as True Proprietary Funds Kft., the company holds a registration number 08-09-033732 and a VAT identification number HU27478930. Their physical presence is established in Győr, Hungary, with their office located at Móricz Zsigmond 1/B. ground floor 14, 9022. This strategic positioning and their operational framework make them a key player in the proprietary trading sector.
Funding Program Options
True Forex Funds presents four distinct evaluation program account options for traders, each tailored to different preferences and goals:
- Standard Evaluation Program Accounts: These are traditional two-step evaluation accounts, designed to assess and develop trading skills.
- Quick Funding Evaluation Program Accounts: Focused on a faster evaluation process, these accounts cater to traders seeking quicker access to funding.
- Timeless Funding Evaluation Program Accounts: Offering a unique approach without the pressure of time constraints.
- One-phase Evaluation Program Accounts: A streamlined, single-phase evaluation for those who prefer a more direct route to funding.
It’s important to note that, except for the One-phase program, the other three are based on the conventional two-step evaluation model, albeit with slight variations in prices and trading objectives.
Additionally, True Forex Funds offers flexibility in the funding currency, allowing traders to choose from USD, EUR, or GBP across all four program types.
In the Standard Evaluation Program at True Forex Funds, the process is split into two distinct phases, each with specific goals and rules:
Phase One:
Objective: Reach an 8% profit target.
Restrictions: Do not exceed a 5% maximum daily loss or a 10% overall maximum loss.
Timeframe: Achieve the profit target within 30 calendar days of the first trade on the evaluation account.
Trading Days Requirement: Minimum of five trading days to qualify for the next phase.
Phase Two:
Objective: Attain a 5% profit target.
Restrictions: Adhere to the same loss limits as in Phase One.
Timeframe: Hit the profit target within 60 calendar days from the start of trading in this phase.
Trading Days Requirement: Engage in trading for at least five days to move forward to a funded account.
Upon successfully completing both phases, traders are granted a funded account. In this stage:
Profit Targets: There are no set profit targets.
Loss Limitations: Maintain within the 5% maximum daily loss and 10% overall maximum loss rules.
Payouts: The first payout occurs 14 calendar days after initiating the first position in the funded account, with subsequent payouts on a bi-weekly basis.
Profit Sharing: Traders enjoy an 80% profit split from the profits generated in the funded account.
Quick Funding Evaluation Program Accounts
The Quick Funding Evaluation Program Account at True Forex Funds is designed to identify and reward proficient traders for their consistent performance across a two-phase evaluation period.
This program allows trading with a 1:100 leverage and offers various account sizes at different price points:
Phase One:
Goal: Achieve an 8% profit target.
Limitations: Stay within a 5% maximum daily loss and a 10% overall maximum loss.
Timeframe: Reach the profit target within 30 calendar days from the first trade on the evaluation account.
Trading Days Requirement: No minimum trading days are needed to advance to the next phase.
Phase Two:
Goal: Attain a 5% profit target.
Limitations: Adhere to the same loss limits as in Phase One.
Timeframe: Hit the profit target within 60 calendar days from the initiation of this phase.
Trading Days Requirement: No minimum trading days are required to progress to a funded account.
Successful completion of both phases leads to a funded account where:
Profit Targets: There are no specific profit targets.
Loss Limitations: Maintain within the 5% maximum daily loss and 10% overall maximum loss rules.
Payouts: The initial payout is scheduled 14 calendar days after the first position in the funded account, followed by bi-weekly payouts.
Profit Sharing: Traders receive an 80% share of the profits made on the funded account.
Scaling Plan
The Quick Funding Evaluation Program Account also includes a scaling plan:
Requirement: Achieve an 8% or more profit target within a three-month period, ensuring profitability in at least two of those months.
Reward: Receive a 25% increase in the original account balance upon meeting these criteria.
Limitless Funding Evaluation Program Accounts
The Limitless Funding Evaluation Program Account at True Forex Funds is tailored for serious and skilled traders, offering them the chance to prove their consistency over a two-phase evaluation period. This program allows for trading with a 1:100 leverage.
Account sizes and prices are as follows:
In Evaluation Phase One, traders must achieve an 8% profit target without exceeding a 5% maximum daily loss or a 10% overall maximum loss.
There is no maximum trading day limit in this phase, but a minimum of five trading days is required to progress to Phase Two.
Evaluation Phase Two demands reaching a 5% profit target while adhering to the same loss constraints. Like Phase One, there’s no maximum day limit for trading, but a minimum of five trading days is necessary to move on to a funded account.
Successful completion of both phases leads to a funded account with:
- No specific profit targets.
- A requirement to respect the 5% maximum daily loss and 10% maximum loss rules.
- The first payout scheduled 14 calendar days after the first trade in the funded account, followed by bi-weekly payouts.
- An 80% profit split based on the earnings in the funded account.
The Limitless Funding Evaluation Program Account also includes a scaling plan:
Traders are required to hit an 8% or higher profit target within a three-month period, ensuring profitability in at least two of those months.
Upon meeting these criteria, traders receive a 25% increase in their original account balance.
One-phase Evaluation Program Accounts
The One-phase Evaluation Program Accounts at True Forex Funds are structured for traders to fulfill a single-step evaluation challenge. This program offers up to 1:30 leverage and no maximum trading day requirements.
Account sizes and prices are as follows:
In the One-phase Evaluation Program Account, traders need to achieve a 10% profit target while adhering to a 3% maximum daily loss and a 6% overall maximum loss.
The profit target must be met within 30 calendar days from the initiation of trading in the evaluation account. A minimum of five trading days is also required to qualify for a funded account.
Upon completing the one-phase evaluation, successful traders are granted a funded account with:
- No set profit targets.
- A requirement to observe the 3% maximum daily loss and 6% maximum loss rules.
- The first payout is scheduled 14 calendar days after the first trade in the funded account, followed by bi-weekly payouts.
- An 80% profit split based on the earnings in the funded account.
The One-phase Evaluation Program Account also includes a scaling plan similar to the Limitless Funding program:
- Traders must hit an 8% or greater profit target within a three-month period, ensuring profitability in at least two of those months.
- A successful achievement of this target leads to a 25% increase in the original account balance.
For all four evaluation program accounts at True Forex Funds – Standard Evaluation, Quick Funding, Timeless Funding, and One-phase Evaluation – the available trading instruments include forex pairs, commodities, indices, and cryptocurrencies.
Additionally, True Forex Funds provides two notable features for the Standard, Quick Funding, and One-phase evaluation program accounts, related to the trading period:
1. Free Retry for Phase One: If a trader’s 30 calendar day trading period in Phase One of the Standard, Quick Funding, or One-phase evaluation program accounts expires without reaching the target but meets the free retry conditions, new login credentials for Phase One are issued on the following business day.
2. Free Retry for Phase Two: In the case of the Standard and Quick Funding evaluation program accounts, if a trader’s 60 calendar day trading period in Phase Two expires without meeting the target but fulfills the free retry conditions, new Phase Two login credentials are provided on the next business day. This means that eligible traders don’t have to start over from Phase One.
When it comes to the payout process:
– Payout Schedule: Payouts are processed 14 days after the first trade is placed in a Funded Trader account.
– Profit Split: Traders are entitled to an impressive 80% profit split of the earnings.
– Processing Time: Payouts are processed on the same day.
– Flexibility in Withdrawal: If a trader chooses not to withdraw their profit after 14 days, they can continue trading and wait for the next profit split period.
– Extension for Non-Profit Periods: In cases where there are no profits at the time of the scheduled withdrawal, the trading period is automatically extended.
For the payout process, traders are required to submit an invoice to invoice@trueforexfunds.com. The firm provides all the necessary information to facilitate easy invoice preparation. This structured and transparent approach to payouts underscores True Forex Funds’ commitment to their traders’ success and financial rewards.
Which broker does True Forex Funds use?
True Forex Funds operates differently from many prop trading firms in that they do not use common broker brands. Instead, they have established a partnership with a tier-1 liquidity provider. This approach allows them to offer their traders the best simulated real market trading conditions, closely mimicking the dynamics of the actual financial markets.
For trading platforms, True Forex Funds provides traders with a choice between two of the most widely used and respected platforms in the industry:
MetaTrader 4 (MT4): Known for its user-friendly interface, robust technical analysis tools, and automated trading capabilities.
MetaTrader 5 (MT5): An upgraded version of MT4, offering more advanced charting tools, additional timeframes, and enhanced algorithmic trading features.
These platforms are renowned for their reliability, comprehensive analysis tools, and wide acceptance among traders worldwide, making them an ideal choice for True Forex Funds’ operations.
Trading instruments
“True Forex Funds Provides a Wide Range of Trading Instruments, Including Forex Pairs, Commodities, Indices, and Cryptocurrencies, with Up to 1:100 Leverage”
The trading commission fees for True Forex Funds are structured based on the type of asset being traded. Here’s a breakdown of the fees for each asset class:
FOREX: A commission of 7 USD per lot.
COMMODITIES: The fee is 3.5 USD per lot.
INDICES: Trading indices incurs a commission of 0.32 USD per lot.
CRYPTO: For trading cryptocurrencies, the fee is 5.69 USD per lot.
These fees are charged per lot and vary depending on the asset class, reflecting the different market conditions and liquidity for each type of asset.
Traders Review
Trustpilot Ratings: On Trustpilot, True Forex Funds boasts a high rating of 4.7 out of 5, based on 2,518 reviews. This score is indicative of the firm’s reliability and the satisfaction of its users. The reviews on Trustpilot highlight various aspects of the firm, with particular praise for their fast and reliable customer support and the user-friendliness of their system.
Community Feedback: The traders in the True Forex Funds community frequently commend the firm for its exceptional customer support. They also appreciate the simplicity and clarity of the terms and conditions provided by True Forex Funds. Additionally, the firm’s straightforward trading objectives and rules are often mentioned positively, suggesting that traders find these aspects beneficial for a clear and focused trading experience.
Customer Support
True Forex Funds offers various support options to ensure that their traders have access to the information and assistance they need:
FAQ Page: For general inquiries and common questions, their FAQ page is a good starting point. It likely covers a range of topics relevant to their services and trading programs.
Support Team: If the FAQ does not address specific concerns, contacting their support team is recommended. They are accessible via their email at support@trueforexfunds.com. Additionally, they maintain a presence on social media, offering another channel for assistance.
Live Chat Support: For immediate assistance, True Forex Funds provides live chat support available from 7 AM to 3 PM Central European (Summer) Time (CE(S)T). This feature allows for real-time communication and quick resolution of queries.
Discord Channel: Joining the True Forex Funds Discord channel is advised for ongoing communication and updates. It’s a platform where traders can connect with the rest of the True Forex Funds community, stay informed about the latest updates, and share experiences.
These support avenues demonstrate True Forex Funds’ commitment to providing comprehensive assistance and fostering a connected trading community.
