True forex funds review

What is a Prop Trading Firm?

A prop trading firm, short for a proprietary trading firm, is a company that engages in proprietary trading, which is the trading of financial instruments with the firm’s own money as opposed to trading on behalf of clients.

Prop trading firms typically have a team of traders who are responsible for generating profits through buying and selling various stocks, bonds, currencies, and derivatives. The traders at a prop trading firm are often required to have a high level of expertise and experience and a strong understanding of medical markets.

Prop trading firms may be structured as partnerships, in which the traders are partners and share in the profits and losses of the firm, or as corporations, in which the traders are employees and receive a salary and benefits.

What are True forex funds?

True Forex Funds is a trading prop firm specializing in the foreign exchange (forex) market. A prop firm, short for “proprietary trading firm,” is a company that allows traders to use its capital to trade financial markets and keep a portion of the profits they generate.

True Forex Funds provides its traders with access to professional-grade trading platforms, educational resources, and support from experienced mentors. The firm’s goal is to help its traders develop the skills and knowledge needed to succeed in the fast-paced and volatile forex market.

True Forex Funds traders are expected to have a strong understanding of technical and fundamental analysis and to be able to manage risk effectively. The firm typically requires its traders to have a proven track record of success and to meet certain performance criteria to continue trading with the firm’s capital.

One of the main benefits of trading with a prop firm like TrueForexFunds is the opportunity to earn a share of the profits generated from trading. This can be a lucrative way for talented traders to earn a living, but it also carries a high level of risk and is not suitable for everyone. Traders need to understand the risks and carefully consider whether prop trading is suitable for them before deciding.

What plans do True Forex Funds offer?

True forex funds offer a 2 step plan. As the name says this plan is composed of two steps. The first step is the trading challenge where you have the following objectives:

Trading Challenge:

• 5 Minimum trading days
• 8% Profit Target
• 5% Maximum Daily Loss limits
• 10% Maximum Overall Loss limits
• Trading Period up to 30 Days

These targets are equal to all the account sizes. Once you pass the trading challenge you now will have to pass the verification this is the second step.

Verification objectives:

• 5 Minimum trading days
• 5% Profit target
• 5% Maximum Daily Loss
• 10% Maximum Overall Loss
• Trading Period up to 60 Days

What changes in the verification phase is the profit target drops from 8% to 5% and you have up to 60 days to complete this phase.

Once you pass both phases you are now a True Forex Funds Trader, although you don’t have more profit targets you still have to respect some rules.

True Forex funds Trader Rules:

• 10% Maximum Overall Loss
• 5% Maximum Daily Loss
• 80/20 Profit Split

After 30 days if you are in profit you will be able to request a profit split. On your first profit split, you will get your challenge fee refunded plus 80% of the profits made during those 30 days.

During this time with your funded account, if you break any of those stipulated rules, you will lose your account.

This is where the real challenge begins you need to be careful with the drawdown and be consistent to be able to withdraw your profits, my suggestion is to lower your risk for the first trades and only start to up your risk once you have some kind of positive margin, to secure the payout.

Account Sizes and Price

• 10k —- 89 euros
• 25k —- 189 euros
• 50k —- 299 euros
• 100k —- 499 euros
• 200k —- 998 euros

Pros and Cons

pros:

• No Commissions Broker
• 5 Minimum Trading Days
• No Style Restrictions
• Low and competitive registration fee
• Profit target of 8%
• Ideal for Forex and crypto Traders
• Fast Support
• You can trade News events
• You can hold trades during the weekend
• allowed copy trading
• allows different trading style
• excellent and active discord community
• frequent sales
• Scaling plan

Cons:

• Low drawdown rules
• Not Ideal for indices traders
• No Third Party Eas

Withdraw Prove

On the True Forex funds website, you can see the payouts and also you can check trader’s stats this is an excellent idea to see what profitable traders do and their forex trading style to have these payouts, they have every account in this option so you can see the stats from a trader with an account to a forex trader with a 200k account.

True Forex funds offer you this tool to increase your trading skills and performance, trade significant forex trading funds, and become a great trader like the rest of the other profitable traders. Here is a link to the website.

Conclusion:

Overall True forex funds are an excellent prop firm. They offer forex traders and crypto traders world-class trading conditions with excellent spreads and raw spread accounts. True Forex Funds offers you the opportunity to swing trade forex pairs and trade different trading styles which is excellent for prop firms that offer funded trader programs.

True Forex Funds offers industry-leading targets with only an 8% profit target and 5 minimum trading days to pass the first phase of the challenge which is pretty unique in the forex funding space. On your funded account if you are a profitable trader you can ask for a bi-weekly payout which is unique when compared with many funded trader programs, they also offer an excellent trader evaluation dashboard which is essential for tracking your risk management, stats, and errors these will help you improve your trading skills.

True Forex Funds offer trading platforms Mt4, Mt5, and Ctrader which gives you choice when picking a trading platform on your funded account. They also allow crypto trading and weekend trading which is good for trader freedom and swing trading so they don’t disable trading altogether on the weekends.

Finally, True Forex Funds has an industry-leading feature which is, you be able to check other profitable traders’ stats this is huge to increase your trading style and have all the advantages of the competition.