True Forex Funds Review | Forex Funding Prop Firm, Costs & Prices
True Forex Funding: This is a new prop firm that offers funded accounts to Forex traders, and these accounts possess an amount ranging from $10,000 – $200,000. Also, the funded accounts come with an 80% profit split with a nice trading condition.
You might wonder why this company is at the top among all similar prop firms just like it. It’s actually what you’ll find out in this article today, so continue reading below to find out.
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True Forex Funds Overview
As said earlier, True Forex Funds is known as a new prop firm, which offers capital to earning Forex traders globally. The Company is currently active, which means that profitable Forex traders now have the opportunity to trade with a funded account and make their trading carrier flow smoothly.
While the company is funding traders globally, they are currently residing in Hungary, and it actually seems like more prop firms are mainly originating from the eastern European regions globally.
Moreover, True Forex Funds offer traders funded accounts that range from $10,000 to $200,000 with a scaling option at $400,000 for trading with an extraordinary consistent result from their trades.
Also, the Trading conditions in True Forex Funds are almost similar to that of the best prop firm worldwide – FTMO. Isn’t this a great option to try out for a nice trading experience of your own? Let’s find out more about what this prop firm is made of in the next section below.
How Funded Accounts in True Forex Funds Works
Funding trading accounts from true Forex funds seems to be a very easy task from our experience, and the process of funding your trading account with True Forex Funds is also an easy task to carry out on your own without the help of a third party. Read through the information below & keep the processes in mind.
True Forex Funds funded accounts are available in USD, EUR, or GBP, and each account in this currency has a stable funding range from $10,000 to $20,000 in the capital.
Funding your trading accounts from the True Forex Funds prop firm is actually easy. Firstly, is actually easy. Firstly, you need to deposit a fee to proceed to a 2 step challenge. Then when you successfully pass through the 2 step challenge, you will now be profit target free, and then you can trade freely on the account.
However, you still have a maximum drawdown rule that will replace the account, therefore, you will continue your trading in a careful manner & avoid disappointments in your targets.
During your challenge in the first step, you need to attain a profit target of 8% within the period of 30 trading days. And this first challenge will pass without any violation of the Maximum daily & total drawdown.
Meanwhile, if you fail the challenge, you will lose your fee to the company without another opportunity, and this means that for another chance you will have to pay the same amount of fees you paid during the first challenge.
But if you end up being successful with the first challenge, you will attain a profit target of 4% while on the same demo account within the period of 60 trading days, and also without any violation of the drawdown rules.
Finally, if you pass both of the challenges, you will get a refund for the initial fee you deposited while the challenge was about to begin, and also, you will offer a live trading account, which the details about the account will be sent to you.
On this live account, all the trades will be carried out by you, and be treated as your personal trading account, and make sure not to violate the drawdown rule of both the maximum daily drawdown and the total drawdown – it’s important.
Every two weeks of the trading period, you will get an 80% profit for your efforts in trading the accounts on the True Forex Funds prop firm.
Also, know that if you violate the drawdown rules given by True Forex Funds, you will retake the challenges & repay the initial fee – avoid this.
True Forex Funds Review – Costs & Pricing
In the aspect of True Forex Funds pricing, initial fees are in average conditions, and also you can’t find any recurring subscription to keep your funding account. This means that the only fee you are to deposit in the account is the initial fee, which you are to deposit while taking a challenge.
For you to get a $10,000 trading account on True Forex Funds, it will cost you €89, isn’t this amount cheap for a Forex Trader like you? Even though you are not yet a consistent trader, we would still like to recommend this account for you, at a stage to start trading & funding from True Forex Funds prop firm, this account is suitable for you.
Meanwhile, for existing earning Forex traders that would like funding from True Forex Funds, and looking forward to greater capital, we would like to recommend the $200,000 trading account – which will cost you €998.
The amount is a bit much, but this depends on the kind of capital you want to be receiving on your trades. With this account, a profitable trader’s average on returns after their first month’s trade is 5%, and this will be enough to compensate the initial fee within 1 month.
Also, the fee – of €998 is also refunded, if you successfully pass the challenge for the account. This means that the pricing and cost affect the traders if they end up failing challenges after their initial fees.
The Prop’s Firm Scaling Program
True Forex Funds: Currently, unlike other prop firms, you won’t find any scaling program around the TFF online prop firm. On True Forex Funds, you can buy multiple funded account challenges without, and limits, and this means that the total capital allowance for a trader is at $400,000 when the largest amount you are to trade with is $200,000.
As a result, you as a trader can possibly have double large accounts that will be running at the same time with the same contents but can be different trades according to you.
It will be a great improvement if the company later adds a capital scaling program just like other prop firms. But sooner, as the company/prop firm is new, we are sure that True Forex Funds will improve with time.
Therefore, feel free to use the prop firm for your Forex funding, for additional information visit the official site, and leave a comment below for remarks & other information needed, also don’t forget to share.
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