True Forex Funds is a prop trading firm located in Hungary that provides funding to aspiring traders. The firm offers a dynamic platform that empowers undercapitalized traders to unleash their full trading potential and embark on successful trading careers. The firm accommodates a diverse range of forex trading styles by implementing a profit-target approach, a profit-split agreement, and a set of relaxed trading rules.
In this True Forex Funds review, we will take a closer look at the company and its offerings. We will discuss the benefits of using True Forex Funds, the potential risks, and whether the company is a good fit for your trading journey.
We explore the features, benefits, and more. You will be better equipped to make an informed decision about prop trading and achieving success in the forex market.
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Top 4 Benefits of Using True Forex Funds
The True Forex Fund’s prop firm offers a variety of benefits to traders, including access to large sums of money, educational resources, a two-step evaluation process, and a profit-sharing agreement. These benefits can help traders improve their trading skills and increase their chances of success.
• Access to large sums of money: Up to $400,000.
• Educational resources: Webinars, tutorials, and a trading simulator.
• Two-step evaluation process: Ensures that only the most qualified traders are funded.
• Profit-sharing agreement: Traders can share in the profits that they generate for the company.
Click here to compare with other prop trading firms.
Which Assets Can Traders Trade With True Forex Funds?
The exact amount you can trade in will depend on your account type and how much experience you have. If you’re just starting, you might only be able to trade forex and indices. But as you get more experience, you might be able to trade stocks, commodities, and cryptocurrencies.
It’s important to know that the things you can trade might also be affected by the laws in your country. For example, if you live in the United States, you might not be able to trade cryptocurrencies.
• Forex: This is when you trade in different currencies, like US dollars and Euros.
• Indices: These are groups of stocks that are traded together, like the S&P 500 or the Nasdaq 100.
• Stocks: These are shares of ownership in a company, like Apple or Microsoft.
• Commodities: These are things like gold, silver, oil, and natural gas.
• Cryptocurrencies: These are digital currencies like Bitcoin and Ethereum.
Click here to check out a list of the best-funded stock trading accounts.
True Forex Funds Offer Serious Traders the Features They Need to Succeed
True Forex Funds is a prop trading firm that offers a variety of features to traders, including access to large sums of money, educational resources, a two-step evaluation process, and a profit-sharing agreement. These features can help traders improve their trading skills and increase their chances of success.
Evaluation Challenge
In Phase 1, your goal is to reach a profit target within 30 days. Here are the specific details for this phase:
• Minimum trading duration: 5 days
• Challenge duration: 30 days
• Maximum allowable daily loss: 5%
• Maximum allowable overall loss: 10%
• Profit target to achieve: 8%
Phase 2:
Once you complete the Phase 1 challenge, you will proceed to Phase 2. This phase provides an extended period of 60 calendar days to achieve the profit target while adhering to the rules. True Forex Funds rules remain the same as in Phase 1, except for the profit target, which is reduced. Here are the details for Phase 2:
• Minimum trading duration: 5 days
• Challenge duration: 60 days
• Maximum allowable daily loss: 5%
• Maximum allowable overall loss: 10%
• Profit target to achieve: 5%
True Forex Funds Leverage Ratios
It is important to use leverage carefully, as it can magnify your losses as well as your profits.
- Forex Up to 1:100
- Metals Up to 1:100
- Energies Up to 1:100
- Indices Up to 1:100
- Stocks Up to 1:10
- Cryptocurrencies Up to 1:5
Trading Platforms
True Forex Funds offers access to two trading platforms:
- MetaTrader 4 (MT4)
- MetaTrader 5 (MT5)
Profit Split Agreement
Upon completing the evaluation program, funded traders enter into a profit-sharing agreement, receiving 80% of their trading profits while the remaining 20% goes to True Forex Funds.
Educational Resources
True Forex Funds offers a variety of educational resources, including webinars, tutorials, and a trading simulator. This can help you improve your trading skills and increase your chances of success.
Is True Forex Funds Legit?
Yes, True Forex Funds is a reputable prop trading firm that has been operating since 2021 and is located in Hungary.
• Transparency: Clear trading rules and conditions.
• Speedy payouts: Less than 24-hour average arrival time.
• Global presence: Operating in over 110 countries.
• True Forex Funds Trustpilot rating: Exceptional 4.7-star with 1,6k+ reviews
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Alternative Prop Trading Firms
True Forex Funds is a popular prop trading firm, but there are other alternatives available. Some of the most popular alternatives include City Traders Imperium, The Funded Trader, and MyForexFunds.
When choosing a prop trading firm, it is important to consider factors such as the evaluation process, the amount of funding offered, and the educational resources available.
Click here to learn more about instant funding prop firms like True Forex Funds.
Risks:
• High-risk trading: Trading with large sums of money carries inherent risks. Ineffective risk management can lead to significant financial losses.
• Performance targets: Meeting True Forex Funds’ performance targets is crucial to maintaining your funding. Failure to meet the targets may result in loss of funding.
• Competition: The presence of numerous prop trading firms means you will face competition from other traders for funding. This competition can make it challenging to secure funding and achieve success.
Recap for Prop Traders
Dynamic platform:
• Operating in over 110 countries worldwide.
Evaluation program:
• Two-phase evaluation program to showcase trading abilities.
• Phase 1: Profit target of 8% within 30 days.
• Phase 2: Profit target of 5% within 60 days.
Profit split agreement:
- Traders receive 80% of trading profits.
- True Forex Funds retains 20% of trading profits.
Multiple trading platforms:
• Access to popular platforms like MetaTrader 4 and MetaTrader 5.
Track record and legitimacy:
• Exceptional 4.7-star rating on Trustpilot.
• Transparent trading rules and conditions.
