ThorFX Review (20% discount code: forexpropreviews)
4.0

ThorFX Review (20% discount code: forexpropreviews)

ThorFX requires traders to pass their two-step evaluation challenge to get access to their company's funds. Traders need to put their skills to the test and demonstrate that they can achieve the required profit targets. Since they are looking for consistent and disciplined traders, there are a few trading objectives that have to be met before becoming funded.
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ThorFX is an established ECN broker that promotes and supports the success of traders. In addition to a wide variety of Funded Account options, you get access to an unrivaled dashboard to track your progress along the way. Before receiving up to $200K in funding, traders must pass through a two-step evaluation process to demonstrate their expertise. With profit targets that are entirely attainable, you can’t go wrong with this broker.

Pros
  • Max loss 15%
  • Profit Share 80%
  • Weekly Payouts
  • Established Live Broker
  • EA’s allowed
  • Real STP Funding
  • Professional Trading Dashboard
  • No Limits on Trading Style
  • No Targets once funded
  • Refundable fee
Cons
  • Max daily loss 5%
  • Lacks community feedback

Traders at ThorFX are provided with the latest technology to ensure lightning-fast execution. No matter which device or connection you prefer, ThorFX’s specialized low latency network supercharges your execution, which means you will get faster execution speeds and greater reliability. Their priority is to contract consistent traders and award them with 80% profit splits of their profits.

Who are ThorFX?

ThorFX is an ECN broker that also has a funded account challenge program that became active on the 20th of April, 2022. They are located in Saint Vincent And Grenadines and are offering traders up to $200,000 funded accounts after completing their two-step evaluation challenge with a profit share of 80%.

They are a registered company under the official name Thor Markets LLC.

Their offices are located at an address Beachmont Business Centre, Suite 141, Kingstown, VC.

Funding program options

ThorFX offers its trader’s the following evaluation program accounts to choose from.

Evaluation program accounts

ThorFX evaluation program account aims to identify disciplined, consistent, and talented traders who are rewarded for their consistency in the two-step evaluation period. The evaluation program account allows you to trade with 1:100 leverage.

Evaluation step one requires a trader to reach a profit target of 10% while not surpassing their 5% maximum daily loss or 15% maximum loss rules. You are required to hit your profit target in 30 calendar days from the day you place your first position on your evaluation account.

Evaluation step two requires a trader to reach a profit target of 8% while not surpassing their 5% maximum daily loss or 15% maximum loss rules. You are required to hit your profit target in 60 calendar days from the day you place your first position on your evaluation account.

By completing both evaluation steps, you are awarded a funded account where you have no profit targets. You are only required to respect the 5% maximum daily loss and 15% maximum loss rules. Your first payout is seven calendar days from the day you place your first position on your funded account. Note that whenever you receive your first payout, all of your next payouts will also be based on a weekly basis from Monday to Friday. Your profit split will be 80% based on the profit you make on your funded account.

Evaluation program account scaling plan

Evaluation program accounts have no available scaling plan.

Evaluation program account rules

  • Profit target is a specific percentage of profit that a trader is required to obtain before they can complete an evaluation phase, withdraw profits, or scale their account. Step one has a 10% profit target, and step two has a profit target of 8%. Funded accounts have no profit targets.
  • Maximum daily loss is the maximum loss a trader can reach on a daily basis before the account is violated. All account sizes have a maximum daily loss of 5%.
  • Maximum loss is the maximum loss a trader can reach overall before the account is violated. All account sizes have a maximum loss of 15%.
  • Minimum trading days is the minimum period which you are required to trade for before you can complete an evaluation phase, or request a withdrawal. Evaluation phases have no minimum trading days, however, on a funded account, you are required to trade a minimum of 10 trading days before being eligible for a bi-weekly payout.
  • Maximum trading days are the maximum period in which you are required to hit a specific profit target or withdrawal target. Step 1 has 30 maximum trading days, and step 2 has 60 maximum trading days.
  • Stop-loss required means that traders must set a stop-loss on every position before they can open a trade.
  • Lot size consistency is a rule that requires traders to use similar lot sizes on the positions that they open. It is usually specified by a certain percentage of how much the lot sizes can differentiate from each other.
  • Third-party copy trading risk means that if you intend to use copy trading services, you should keep in mind that by using a third-party copy trading service, there might be other traders that are already using it and therefore exactly the same trading strategy. By using a third-party copy trading service, you potentially run the risk of being denied a funded account/withdrawal if you exceed the maximum capital allocation rule.
  • Third-party EA risk means that if you intend to use an EA, you should keep in mind that by using a third-party EA, there might be other traders that are already using it and therefore using exactly the same trading strategy. By using a third-party EA, you potentially run the risk of being denied a funded account/withdrawal if you exceed the maximum capital allocation rule.

What makes ThorFX different from any other prop firm? 

ThorFX is different from most of the industry-leading prop firms due to almost never regulating your trading style, you can trade during news, hold trades overnight, and during the weekends.

Compared to other prop firms, the ThorFX evaluation program is a two-step evaluation program that requires traders to complete two phases before being eligible for payouts. The profit target for both steps is 10% with a 5% maximum daily and 15% maximum loss rules, you should also respect the ten minimum trading day requirements in both phases before becoming funded while having a maximum trading period of 30 calendar days for each step. Evaluation program accounts have no available scaling plan. Compared to other industry-leading prop firms, they have above-average profit targets with a higher maximum loss rule.

Example of comparison between ThorFX & Finotive Funding:

Trading objectivesThorFXFinotive Funding
Phase 1 profit target10%7.5%
Phase 2 profit target8%5%
Maximum daily loss5%5%
Maximum loss15%10%
Minimum trading days10 calendar daysNo minimum trading days
Profit split80%75% up to 95%

Example of comparison between ThorFX & FundedNext:

Trading objectivesThorFXFundedNext
Phase 1 profit target10%10%
Phase 2 profit target8%5%
Maximum daily loss5%5%
Maximum loss15%10%
Minimum trading days10 calendar days5 calendar days
Profit split80%80% up to 90%

Example of comparison between ThorFX & E8 Funding:

Trading objectivesThorFXE8 Funding
Phase 1 profit target10%8%
Phase 2 profit target8%5%
Maximum daily loss5%5%
Maximum loss15%8%
Minimum trading days10 calendar daysNo minimum trading days
Profit split80%80%

In conclusion, ThorFX is different from most of the industry-leading prop firms due to almost never regulating your trading style, you can trade during news, hold trades overnight, and during the weekends.

Is getting ThorFX capital realistic?

When looking at prop firms that best suit you and your forex trading style, it’s important to look at how realistic the trading requirements are. For example, a company offering a high % profit split on a highly funded account sounds great but if they expect high % gains per month with low % maximum drawdowns, your chances of success become close to zero.

Receiving capital from the evaluation program accounts is realistic mostly since they have a 10% profit target on phase 1 and 8% on phase 2. However, the maximum loss rules are higher than average (5% maximum daily and 15% maximum loss).

After considering all of that, ThorFX is an excellent choice to get funded since evaluation program accounts that you can choose from all have realistic trading objectives to follow and conditions to receive payouts.

Payment proof

ThorFX is a relatively new ECN broker that is offering funded accounts, which means that there is still a small amount of information about payment proof. 

With that being said, we will keep you updated once we acquire payment proof.

Which broker does ThorFX use?

ThorFX is an ECN broker that has implemented a funded account challenge for its clients. They provide traders with ultra-fast technology that connects you to the global markets while being able to trade with up to 1:100 leverage. This allows you to modify your risk profile and make the most of your trading capital.

As for trading platforms, you are allowed to trade on MetaTrader 4 and also Meta Trader 5.

Trading instruments

ThorFX offers a large variety of trading Instruments. You are allowed to trade forex pairs, commodities, indices, stocks, and cryptocurrencies.

FOREX:AUDUSDEURUSDGBPUSDNZDUSDUSDCAD
USDCHFUSDJPYAUDCADAUDCHFAUDNZDAUDJPY
CADCHFCADJPYCHFJPYEURAUDEURCADEURCHF
EURGBPEURJPYEURNZDGBPAUDGBPCADGBPCHF
GBPJPYGBPNZDNZDCADNZDCHFNZDJPYEURCZK
EURDKKEURHKDEURNOKEURPLNEURSEKEURTRY
EURZAREURSGDEURHUFGBPDKKGBPNOKGBPSEK
NOKSEKUSDCNHUSDCZKUSDDKKUSDHKDUSDHUF
USDILSUSDMXNUSDNOKUSDPLNUSDRUBUSDSEK
USDSGDUSDTRYUSDZARCADSGD
COMMODITIES:COPPERXAG/USDXAU/EURXAU/USDXPT/USD
NGASUKOilUSOil
INDICES:DAXESP35EUSTX50FRA40JPN225
NAS100SPX500UK100US30
STOCKS:ADSGnALVGBAYGnBMWGBNPP.PA
DAIGnIBE.MCLVMH.PASIEGnVOWG_pAAPL
AMZNBABACCCSCOCVX
FFDXGOOGHPIBMINTC
JNJJPMKOMAMCDMSFT
MVRSNFLXORCLPGTTSLA
XOMV
CRYPTO:ADAUSDAVAUSDBATUSDBCHUSDBNBUSD
BTCUSDDASHUSDDOGEUSDDOTUSDEOSUSDETCUSD
ETHUSDIOTAUSDLTCUSDNEOUSDOMGUSDSHBUSD1000
SOLUSDTRXUSDXLMUSDXMRUSDXRPUSDZECUSD

Trading fees

Trading commission:

AssetsFee terms
FOREX 7 USD / LOT
COMMODITIES 7 USD / LOT
INDICES 7 USD / LOT
CRYPTO 7 USD / LOT

Spread:

In order to check the live spreads login to the trading account below:

PlatformServerLogin numberPasswordDownload platform
MetaTrader 4ThorFX-Demo2626592wVtZuDXsYmClick here

Education & Support for traders

ThorFX provides traders with a chance to learn how to trade by checking out their Educational Academy. You will find articles about discovering your trading strengths for cryptocurrencies, forex, technical & fundamental analysis, and lessons from the greats.

They are one of the few firms that have a well-structured dashboard for their traders to follow and analyze their progress.

Traders’ comments about ThorFX

ThorFX has average feedback from their reviews.

However, despite the average rating of 3.3/5 out of only two reviews, you should note that ThorFX is still relatively new with its funding program, meaning that more feedback about them will be added in the future.

Social media statistics

ThorFX can also be found on social media. 

They have a:

They also have a Telegram channel where you will be able to follow all of their updates. In addition, ThorFX also has a Discord channel, where you can interact with other members of their community as well as ask for support if you require any additional information.

Support

ThorFX has an Information hub page where you might find the information that you are missing.

Another option is to submit a ticket, which you can access by clicking here. They have 24/7 support via tickets and also offer support in the Spanish language.

They also have active live chat support that will help you resolve any problem that you encounter.

Conclusion

In conclusion, ThorFX is a legitimate proprietary trading firm that offers traders a chance to choose between different evaluation program account sizes.

Evaluation programs are an industry-standard two-step evaluation challenge that requires the completion of two steps before becoming funded and being eligible to earn profit splits. ThorFX requires traders to reach profit targets of 10% in each step before becoming funded, which are realistic trading objectives considering you have a 5% maximum daily and 15% maximum loss rules to follow. With evaluation programs, you can earn 80% profit splits. However, there is no scaling plan available at the moment.

I would recommend ThorFX to anyone who is looking for a prop firm with straightforward trading rules. While they are still a relatively new firm, they offer excellent conditions for a big pool of individuals with unique trading styles. After considering everything ThorFX has to offer, they have the potential to become one of the better proprietary trading firms.

This review about ThorFX was lastly updated on 20.01.2023 at 09:21 (CE(S)T).

So, what do you think about the layout of the Proprietary Trading firm? Does ThorFX have the instruments that you want to trade?

Let us know if you enjoyed our ThorFX Proprietary Trading firm review!

ThorFX Review (20% discount code: forexpropreviews) Details

Trading platform
Deposit Methods
Withdrawal Methods
Tradable instruments
Account Currencies
Leverage
Maximum capital allocation
Account size up to:
$200,000
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*Choose your account type and start trading
4.0
Fees
4.0
Trading platform
4.0
Deposit and withdrawal
4.0
Customer Support
4.0 Overall Rating

4 Replies to “ThorFX Review (20% discount code: forexpropreviews)”

  • Daniel Koeneburg says:

    I would like you to look into the correlation between ThorFX and OspreyFX. Their conditions and prices are identical. The MT4 platform and symbols are identical, although having the same liquidity providers is not a red flag, but they have the same address, except one is in Suite 4 and the other in Suite 141. The correlations are just too coincidental. But that should be mentioned in both reviews. Dealing with two firms names, but they are related or even the same is something the prospective trader should be aware of.

    I also think it is HUGELY important to mention that they are UNREGULATED brokers, which MUST be reflected in their rating. Although it is not essential in funded options for trading, if their primary business is being a broker and then unregulated, it is a serious issue. Their support is shocking, I asked a simple question what symbols must be traded for the funded accounts (.pro.var or standard), it was a ridiculous response of “it is up to the trader”, even when I patiently explained that it would not be possible to leave it to the trader and rephrased the question carefully so the agent can understand it clearly. Still was unresolved after 45min… so much for a “A Kick-ass 24/7 Support Team” as mentioned on their site.

    There is virtually no public reviews which I can trust are from funded traders with proof of payments. I really think the high points of this review at 4.8 is unjustified. OspreyFX with IDENTICAL funded requirements and prices has a rating of 4.

    I would appreciate your comment as a reviewer. I am not affiliated with any other company, but have personally reviewed 15 of the top firms suggested by this site and ThorFX has been rated very low on trust, although good on conditions. But great conditions vs. a company that can’t be 100% trusted… should be <=3 out of 5 until proven. (similar comment posted on OspreyFX)

    • Prop Reviews says:

      We agree there are quite a few similarities between the funding programs of the two brokerages. However, when looking at all the trading rules and objectives, there are also quite a few differences between the two. For example, maximum drawdown, profit splits, stop-loss requirements, lot size consistency, and overall consistency.
      In addition, we haven’t mentioned the details of both brokerages in the review since we are only reviewing the funded trader programs that the firms are providing to traders. Note this is a funded trader program review, not a broker review. Also, kindly note that we have used both brokers, and we were reasonably happy with them despite the fact that the spreads and commissions are slightly higher compared to some of the industry-leading brokerages out there (For example, ICMarkets, Eightcap).
      And lastly, when it comes to ratings, we cover a wide spectre of things to come to a conclusion. We have received payouts with the broker themselves that is running the entire funded trader program. We also cannot exclude the trading dashboard that is one of the better in the industry based on the looks and functionality.
      We would also like to add, that the review updates and rating updates of particular proprietary trading firms occur on a regular basis. We cover updates in most cases on a monthly basis to keep our community up-to date with everything that is happening in the proprietary trading firm industry. That being said, you can be sure that if both proprietary trading firms don’t continue to improve as they age, we will be reducing the current ratings.

  • Hafiz says:

    wow 15% maximum dd
    very good feature
    don’t think any firm has so much dd

  • Rob says:

    15% drawdown is nice and all, but 10% and 8% profit target is also quite high.

    Might give them a try later this year since I’ve heard a lot of positive things about them.

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