In the competitive world of proprietary trading firms, True Forex Funds has made a lasting impression by offering a holistic approach to trading. This platform combines innovative funding models, advanced technology, and an intuitive design to ensure a seamless trading experience. In this comprehensive review, we delve into the unique offerings that have given True Forex Funds stellar reviews from users.
A Proprietary Trading Platform for All Forex Trading Styles
True Forex Funds has created a trading platform that caters to a multitude of Forex trading styles. Whether you are a swing trader, a position trader, or an intraday trader, True Forex Funds has features that are tailor-made to your trading style. A key feature is the attractive profit split, allowing traders to retain a significant percentage of their profits.
The platform promotes consistency in profits, emphasizing the importance of steady growth over time. Moreover, there is no requirement for a minimum number of trading days, providing flexibility and control to traders in their journey.
Click here to check out a list of the best funded forex trading accounts, like True Forex Funds.
How Does it Work?
True Forex Funds offers access to its company’s capital via a 2-Phase Evaluation Program. This simple process aims to evaluate the skills and aptitude of prospective traders, who must meet realistic Profit Targets and follow straightforward Trading Objectives. Here’s a step-by-step guide:
Phase 1: Starting Your Evaluation Process
- Profit Target: Traders must aim to achieve an 8% profit target.
- Trading Objectives: You must complete at least 5 trading days, abide by a 5% Maximum Daily Loss limit, and ensure that your Maximum Overall Loss does not exceed 10%.
- Trading Period: This phase allows up to 30 calendar days for you to meet the objectives.
- Registration Fee: A fee is required to start your evaluation. The amount is not specified here but will be detailed during the registration process.
Phase 2: One Step Away to Be Our Funded Trader
- Profit Target: Traders are expected to reach a lower profit target of 5% in this phase.
- Trading Objectives: Similar to Phase 1, traders must complete a minimum of 5 trading days, ensure the Maximum Daily Loss doesn’t exceed 5%, and keep the Maximum Overall Loss within 10%.
- Trading Period: In this phase, the trading period extends up to 60 calendar days.
- Cost: This phase is free, meaning no additional fee is required to continue your evaluation.
Becoming a Funded Trader: Trading with Substantial Funds
- Profit Split: As a funded trader, you will enjoy an 80/20 profit split, meaning you keep 80% of your profits.
- Trading Objectives: There are no minimum trading days required. However, you must adhere to a 5% Maximum Daily Loss and ensure your Maximum Overall Loss remains under 10%.
- Trading Period: Once you become a funded trader, the trading period becomes indefinite.
- Refundable Registration Fee: The registration fee paid at the beginning is refundable upon becoming a funded trader.
Through this phased approach, True Forex Funds ensures that only the most disciplined and talented traders gain access to their capital. It also allows traders to demonstrate their trading ability and potential gradually, thereby fostering an environment conducive to learning and improvement.
Detailed Payout Transparency
True Forex Funds places a high value on transparency, and this is evident in the way it presents the details of payouts to its funded traders. Detailed information about payouts, associated account sizes, and the countries of the accounts is made available on the True Forex Funds website. However, it is important to note that historical payout information before October 2022 is not available for browsing.
Here’s an example of the kind of information you can expect:
In May 2023, True Forex Funds made a substantial number of payouts, totaling 1,176 individual payments. These payouts, combined, amounted to an impressive $3,528,685.20 USD.
The highest payout made to a single trader in that month was $56,333.23. However, on average, traders received a payout of around $3,000.58 USD.
This transparency provided by True Forex Funds goes a long way in establishing trust and encouraging traders to strive for consistent profitability. It also offers a clear insight into the potential rewards of trading with True Forex Funds.
This is something we have not seen on other prop trading firm websites, and is a great value add.
Broker Selection and Wide Range of Instruments
Another feature that sets True Forex Funds apart is the freedom it gives to traders in terms of broker selection. Additionally, the platform provides a wide range of trading instruments, including Forex, indices, and even cryptocurrencies. This versatility ensures that traders can diversify their portfolio and take advantage of various market movements.
Fair Spreads and Supportive Environment
True Forex Funds ensures fair spreads, offering competitive conditions to make trading more profitable. Also, they provide a dedicated support team that assists traders at every step, adding to a supportive and comfortable trading environment.
The platform also provides consistent traders with a star rating based on their trading performance, thereby encouraging traders to maintain consistent profits and receive a higher star rating.
Concluding Thoughts on True Forex Funds
True Forex Funds is cementing its place as a premier proprietary trading firm by prioritizing the needs and aspirations of its traders. With its comprehensive evaluation phase, supportive trading environment, and an intuitive platform designed for success, True Forex Funds is providing traders the path towards becoming profitable traders.
Whether you are a novice or an experienced trader, True Forex Funds offers the tools, flexibility, and opportunities to help you excel. The chance to earn a substantial profit share and the freedom to operate according to your trading style, makes True Forex Funds a compelling choice for your next step in your trading journey. Click here to get started.
Author Bio: Craig Hawthorne is a financial veteran who effortlessly combines his profound understanding of finance with a flair for product reviewing. Recognized for his knack in untangling complex financial concepts and delivering reliable product critiques, his insights have earned spots in multiple esteemed publications such as Modest Money. His efforts also extend to producing educational content, helping a wider audience confidently navigate through financial complexities.
Outside the professional sphere, Craig cherishes his downtime, hiking local trails or exploring new culinary experiences, enriching his life with a healthy balance of work and leisure.