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True Forex Funds is one of the best Proprietary trading firms the forex industry has to offer.
Our trueforexfunds.com review gives you an idea of what to expect from the platform. The how-to guide gives you insight into why True Forex Funds is the best for beginners.
Here’s our comprehensive True Forex Funds Review.
Located in Hungary, True Forex Funds was founded in 2021 and has grown tremendously thanks to its high success rate. Easy access to a fully funded account is what makes trueforexfunds.com the best for funding traders.
The platform funds traders to trade on CFDs and other forex trading assets. Here’s a comprehensive list of all the trading instruments available;
Nagy Richard is the CEO at True Forex Funds. The platform uses Tier 1 liquidity providers with direct access to the market.
Traders get to enjoy MT4 and MT5 trading platforms, there’s no cTrader that could make it an impressive all-out trading platform.
One of the fastest growing and evolving prop firms, the platform clearly has an extensive vision keen on advancing the careers of traders.
Expect up to $400,000 in funding program once you successfully pass the 2-phase of evaluation. And this also means the company will directly cover your potential losses.
Over $27.4M has already been paid to traders this year alone, with an average of 24 hours payout arrival time. This makes it one of the most convenient prop trading firms in terms of payment structure.
Thanks to the clear vision, traders easily move forward by first understanding the rules of engagement. The platform offers user-friendly profit targets and engaging customer service support that’s available 24/7.
The True Forex Funds platform offers the best user and trader experience available in the market with instant response from support during business hours.
There are three key benefits accrued from trading with trueforexfunds.com;
Traders on the True Forex Fund’s prop firm are entitled to an 80 percent profit share of what they have achieved. This makes it the highest profit share from any prop firm in the forex industry.
An 80% profit share is incredible, which means the platform offers great profit margins for successful traders. That’s one of the best reasons to sign up with True Forex Funds.
There are world-class trading terminals available on the platform. MT4 and MT5 are some of the most recognizable trading platforms the industry has to offer. These are stable trading terminals offering the best in terms of trading experience.
The UX is amazing with these platforms offering advanced charting tools and indicators. Both of the platforms are compatible with any device and offer demo accounts to try and work out how they work for beginners.
Overnight and weekend trades are available and welcomed. That means no matter the time zone, you can place trades and the platform still counts them. That’s another amazing feature of this prop firm.
It gives traders from all regions access to funding with the power to choose trading hours which is an extra bonus. You need to be ahead of the pack and sign up today to enjoy a fully funded account.
NB: Speaking of funded accounts, here are other proven alternatives that offer traders the best-funded programs.
The biggest question traders have when it comes to funded accounts is how big the fund is. With True Forex Funds, the platform got you covered. You get a funded account with a balance of $10,000 minimum to over $400,000.
To get access to a fully funded account, there are phases you have to pass. The price of each evaluation is different depending on the account you’re applying to.
For small funded accounts, the price varies from €89 to €998 for bigger accounts.
The leverage for these accounts is 1:100 for energies, forex, indices, and metals. Cryptocurrencies enjoy a leverage of 1:5 with stocks enjoying 1:10 leverage.
Let’s take a closer look at the three phases to become a fully funded account holder with True Forex funds.
Traders must pass the challenge or evaluation which has two phases. You should keep in mind that each phase has a set of rules and objectives.
Here are the two phases in detail
During the Phase 1 evaluation. Traders must hit the set profit target within 30 calendar days. The features of this account phase include a minimum of 5 trading days, with a maximum daily loss of 5 percent.
Phase 1 allows for a maximum overall loss of 10 percent after 30 calendar days, with the profit target set at 8 percent.
There’s a registration fee with this account as mentioned above, with a timeless funding account, members get a timeless trading limit.
After completing the first phase challenge, you can move on to phase 2, which has a different set of rules of engagement.
With this phase, traders enjoy an extended trading period with traders now having a 60 calendar day trading period. You must achieve the set profit target while not breaking any of the set rules. All the rules are the same as those set in Phase 1.
The only rule that changes is the profit target which reduces to 5 percent. All other rules remain the same including minimum trading days, maximum daily loss, and maximum overall loss. The account is free to register, seeing you have already completed the first phase.
With this account, it’s clear you have passed all the set rules and guidelines, including hitting the set profit targets.
There’s an 80 percent profit share set with no maximum trading days. You also get a 5 percent maximum daily loss with a 10 percent maximum overall loss rule. Traders also get a refundable registration fee.
For those who love using EAs to automate your trades, True Forex Funds is a great prop firm. The platform allows for all types of bots, EAs, HFT trading, Indicators, and trading tools.
You can even use trading strategies including hedging and martingale which is a rare thing with proprietary trading firms.
One requirement you have to keep in mind is that in live conditions, trading can be replicated.
PS: Speaking for Expert Advisors, how would you feel using an AI-trading tool offering the best thanks to integrating ChatGPT and Google BARD for the weekly market forecast?
There’s no doubt that trueforexfunds.com is a legitimate company. Here are their contact details and we hope they will upload their license details on the website as well;
Email: [email protected]
Address: Bajcsy-Zsilinszky ut 27, 3rd-floor office. 9021, Gyor, Hungary.
The platform also has several other ways you can make contact including live chat support. Expect a response within 2 minutes with their live chat, which is commendable considering the number of requests that go through.
Unfortunately, True Forex Funds doesn’t offer a free trial at the time of publishing this post. However, traders do get free repeat which is also a positive aspect.
The platform might offer a free trial in the future, hopefully.
Another exciting feature of this prop trading firm is managing free repeat. That’s impressive, especially for traders wanting to take the challenges again.
One of the requirements to meet for the free repeat feature is having to hit profit targets and not violate any of the set rules.
Let’s take a closer look at the trading features available on the platform;
The platform holds no restrictions for traders holding trades overnight during the weekend. Traders can have their positions open as long as they are coping well with their trading styles.
Remember the platform accepts a variety of trading styles including day trading, scalping, and swing trading.
These three are the most common trading styles, all are fit for traders, and you just have to find one that fits your trading style.
Here’s another exciting feature regarding this prop trading firm, there are no restrictions on News Trading. Traders just need to be careful with the volatility. For seasoned traders, that’s the best time to trade, taking advantage of the volatile situation.
The trick is to ensure you don’t exceed your maximum lot size and keep it in check your trades at all times.
There are three currencies used on this prop firm, Euro, Pound, and the US Dollar. Funded accounts get five different sets of funding amounts.
Expect to get funding starting from $10,000, $25,000, $50,000, $100,000, and excess of $200,000.
The acceptable daily loss on Phase 1 and Phase 2 is usually $500. Even on a fully funded account, the platform still sets $500 as the daily acceptable loss, maximum.
Overall loss on all phases, including the funded account is $1,000.
The profit target for Phase 1 is $800 with Phase 2 having a shorter profit target of $500/
Please note that the platform offers a refundable fee of €89 if you are targeting a low-funded account.
Note: Want to try hands-free passive income platforms tested and tried by experts? Find out what these platforms are and why they are the best-kept secret for investors and traders.
You might want to know whether traders from all over the world are eligible to sign up. The good news is that most traders are eligible to sign up.
Due to the highly regulated nature of prop firms, the platform offers its services in most countries except Iran, North Korea, and Syria. The platform ensures everyone complies with AML laws and regulations.
To keep the platform competitive and transparent at all times, there’s a leaderboard present. The main agenda of this leaderboard is to give traders a clear perspective of what’s happening.
A closer review of the leaderboard will show different traders with different funded accounts and their profit margins.
It’s a great way to boost the confidence of any trader on the platform. The leaderboard gives you accurate details of the account size, country of trader, equity, gain percentage, and profit margin.
You can even take a look at some of the leaders on your funded account size as the query gives traders a chance to find out who is leading in their pool size.
There’s a payout section available on the platform and it gives a clear picture of payouts made on the current month.
As we were publishing this post, the number of total payouts stood at 182. The total payout amount was over half a million with the highest-paid trader getting over $20,000.
There’s an average payout amount of $2,991 which makes the prop firm one if not, the most successful prop firms.
There’s also an affiliate program available on the platform. It gives traders a chance to test how best they can engage with the platform.
The platform offers one of the highest referral commissions the industry has to offer, at 15 percent.
After reviewing the platform and testing it ourselves, we were thrilled to share the good news with our readers.
The platform is highly lucrative with the rules fair when it comes to getting access to a fully funded account.
There’s no doubt in our minds that True Forex Funds is the best Proprietary trading firm the forex industry has to offer.
Try trueforexfunds.com today for a chance to get a fully funded account.
PS: Check out some of the best EAs to use after signing up with the above prop firm.
Do leave a comment or email us with any queries.
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