This time, Forex Prop Reviews got another review video for you. We are going to be talking about True Forex Funds. They have implemented a vast number of updates from the time that we did the review about them last year. Let’s see if True Forex Funds offer precisely what you want in a prop firm. Let’s dive into the Updated review of True Forex Funds.
True Forex Funds Updated Review
True Forex Funds is a well-established prop trading firm. They were incorporated in October 2021. They allow traders to choose between different account sizes of two-step evaluation challenges. Traders can manage up to $400,000 in evaluation accounts, which can be scaled up further if specific criteria are met.
Let’s take a closer look at the two-step evaluation challenge. True Forex Funds evaluation program account aims to identify serious and talented traders. These traders are then rewarded for their consistency in the two-phase evaluation period. The evaluation program account allows you to trade with 1:100 leverage.
Traders can also choose their account funding between:
True Forex Funds Evaluation account phases
- Evaluation phase one requires a trader to reach a profit Target of 8% while not surpassing their 5% maximum daily loss or 10% maximum loss rules. You’re required to hit your profit Target in 30 calendar days from the day you place your first position on your evaluation account. You are also required to trade at least five trading days to proceed to phase two.
- Evaluation phase two requires a Trader to reach a profit Target of 5% while not surpassing their 5% maximum daily loss or 10% maximum loss rule. You are required in phase two to hit your profit Target in 60 calendar days from the day you place your first position on your evaluation account. You must also trade for at least five trading days to proceed to a funded account.
- You are awarded a funded account with no profit targets by completing both evaluation phases. You must only respect the maximum daily loss of 5% and the maximum overall loss of 10%. Your first payout is 14 calendar days from placing your first position on your funded account.
During the funded account phase, you are required to trade a minimum of five calendar days while trading with consistent lot sizes. You should note that if you don’t trade at least five days in the 14 calendar days, you’ll receive your first payout after 30 calendar days. Whenever you receive your first payout, your next payouts will be based on a bi-weekly or a two-week basis. Your profit splits will be 80% based on the profit you make on your funded accounts.
What makes them different?
True Forex Funds is different from most industry-leading prop firms due to never regulating your trading style. You can trade during news and hold trades overnight and during the weekends, which is certainly not the case across the board.
They also have a scaling plan. Compared to other prop firms, they have relatively low-profit targets and relaxed trading rules.
True Forex Funds Broker
True Forex Funds don’t trade with common broker brands. They’re partnered with a tier-one liquidity provider that supplies institutional data feed with the direct Market access execution model on their live corporate accounts.
For trading platforms, you can choose from Metatrader4 and Metatrader5.
Conclusion of True Forex Funds Updated Review
In conclusion, True Forex Funds is a legitimate prop trading firm that allows traders to choose between different evaluation program account sizes. They are certainly establishing itself as one of the leading players in the space. So, we’d recommend True Forex Funds to anyone looking for a prop firm with straightforward trading rules.
There are certainly more details, so watch the video:
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