True Forex Funds Review (10% cashback)
4.0

True Forex Funds Review (10% cashback)

True Forex Funds requires traders to pass their 2-Phase Evaluation Program to get access to their company’s capital. You need to put your skills to the test and demonstrate that you can achieve your Profit Targets. Since they are looking to invest only in disciplined traders, they set a few simple Trading Objectives that should be met.
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True Forex Funds is a fast-growing proprietary trading firm that targets undercapitalized traders that are motivated and ready to get up to $400,000 in funding, after completing their 2-Phase Evaluation Process. Upon successfully doing so, they will cover all your losses!

Pros
  • Free Trial
  • Leverage 1:100
  • Profit share 80%
  • Weekend positions
  • No regulations on your trading style
  • No minimal trading days
Cons
  • New company
  • Competitive profit targets

Traders at True Forex Funds are encouraged to succeed in their careers. You may trade at your discretion; and hold your trades as long as you want, meaning they will NEVER regulate your trading style. All they care about are the loss limits while their main goal being, to contract consistent traders and reward them with their high 80% profit split.

Who are True Forex Funds?

True Forex Funds is a relatively new prop firm based in Hungary offering motivated but undercapitalized traders up to $400,000 in funding with a profit split of 80% by using one of the best Forex Trading Brokers IC Markets.

They are a registered company under the official name True Proprietary Funds Kft., with an ID number of 08-09-033732 and a VAT identification number HU27478930.

Their offices are located at an address, Móricz Zsigmond 1/B. ground floor 14, 9022 Győr, Hungary.

Video Review

Funding program options

True Forex Funds offer capital to their traders ranging from $10,000 to $400,000. The price for these accounts is ranging from €89 for the $10,000 account, all the way to €998 for the $200,000 account. The leverage offered is 1:100 and you can choose your account funding between USD, EUR, and GBP.

They try to keep their Funded Traders motivated. That being said, successful traders are entitled to an initial balance increase of 25% every 3 months. Their criterion is 2 months out of 3 need to be closed in profit. Traders need to profit 8% altogether in 3 months.

There is no upside scaling limit in their scaling plan!

The Evaluation Process is structured by Phase 1 and Phase 2. The differences between them are that for Phase 1 the Profit Target is 8% and the Trading Period is up to 30 days while for Phase 2 the Profit target is 4% and the Trading period is up to 60 days.

The profit split is a high 80%, with a maximum daily loss of 5% and a maximum overall loss of 10%. You are allowed to trade every forex pair, indices, metals, crypto, and oil, which makes it great for a large variety of traders.

True Forex Funds allows traders to trade on MT4 and MT5 platforms, while cTrader is under development and will be added soon. They also allow overnight trading and weekend position holding, so if you’re someone that prefers those types of trading that is a major bonus.

What makes True Forex Funds different from any other prop firm? 

True Forex Funds is different from most of the industry-leading prop firms due to never regulating your trading style. For example one of the allowed styles is weekend position holding.

Compared to other prop firms, True Forex Funds also offers a high 1:100 leverage and a relatively low-profit target of 8% in Phase 1 and 4% in Phase 2. Comparing that to FTMO who also has an Evaluation Process made out of Phase 1 with a Profit Target of 10% and Phase 2 with a Profit Target of 5%. The Evaluation Process also has no minimum trading days which makes it possible to complete in a way shorter period than at other prop firms. My Forex Funds for example has 5 minimum trading days for their Evaluation Process, while FTMO has 10 minimum trading days for each Phase.

Another difference from most prop firms is that payouts are available bi-weekly, which means every 14 days with a high-profit split of 80%.

In short, getting funding from True Forex Funds can be acquired by a lot of different strategies, since they NEVER regulate your trading style as long as you don’t surpass their loss limits.

Is getting True Forex Funds 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.

After adding all of that into consideration True Forex Funds is a great choice to get funded with. This is since you need to pass an Evaluation Process made out of 2 Phases.

The rules for the Evaluation Process are realistic since the Profit Target in Phase 1 is 8% and in Phase 2 only 4% with a drawdown of 5% daily and 10% overall. Weekend holding and overnight holding are also allowed which is great for Day Traders and Swing Traders that are looking for capital up to $400,000.

Payment proof

True Forex Funds is a relatively new prop firm which means that there is still a small amount of information about payment proof. 

Payouts are processed 14 days after your first trade is placed on your Funded Trader account. You are entitled to a high 80% profit split. In this period you are required to trade at least for 5 days, if not your payout will be available on your next bi-weekly date. Payouts are processed the same day and in case you don’t wish to withdraw your profit in 14 days you can continue trading on your trading account until your next profit split. If you don’t have any profits at the time of withdrawal, your trading period will be automatically extended.

Traders need to submit an invoice to invoice@trueforexfunds.com. They will supply all the necessary information to make an easy invoice.

With that being said we will keep you updated once more payment proof is available.

Which broker does True Forex Funds use?

True Forex Funds is currently offering IC Markets as a Broker. They were founded in 2007, in Australia, and even over a decade later they are still one of the largest standing True ECN Brokers in the industry. Their headquarters are located in Sydney.

They are offering a legitimate experience for forex traders with tight spreads, cheap trading fees, deep liquidity, and fast execution in the industry. All of that plus their high leverage and focus to prioritize client safety of funds has made this company expand massively over the last decade.

Trading instruments

True Forex Funds offers a large variety of Trading Instruments. You are allowed to trade every forex pair, indices, metals, crypto, and oil.

Education & Support for traders

True Forex Funds do not provide any additional educational programs. 

On the other hand, they are one of the few prop firms that have an option of a free trial before starting with the Evaluation Process so you can prepare yourself and reduce the chances of errors. 

True Forex Funds also have an active thread on ForexFactory where you can get some additional information about the prop firm. 

Traders comments about True Forex Funds

True Forex Funds has excellent feedback from their community. 

On Trustpilot, they have a large variety of their community commenting and giving positive feedback with a great score of 4.6/5 out of 150 reviews. In the reviews, their community mostly mentions their fast and reliable customer support and the practicality of the system.

Most of their community is impressed by their customer support and the simplicity of their terms and rules.

You can see all the reviews here.

Social media statistics

True Forex Funds can also be found on social media. 

They have a:

Facebook page with 1,142 followers,

Instagram profile with 4,278 followers,

YouTube channel with 720 subscribers with 4 uploaded videos and,

Twitter account with 171 followers.

They also have a Discord channel with a community chat, payouts chat, support chat, and trade ideas chat where you can discuss different topics around True Forex Funds.

Support

True Forex Funds has a FAQ page where you might find the information that you are missing, if not you should contact their support team or join their Discord channel.

The support team is available on their social media or you can directly contact them on their email support@trueforexfunds.com

They also have active live chat support from 7 AM to 3 PM (CE(S)T).

For further information and communication with the rest of the True Forex Funds community, you should join their Discord channel so you are constantly up to date.

Registration process

To register with True Forex Funds, you will require to complete the following steps.

1. Sign up for True Forex Funds

2. Email verification

3. Click start the challenge button

4. Choose your desired challenge details

5. Choose your desired payment method

6. Receive the order confirmation in your email

7. Receive your login credentials for phase 1

8. Phase 1 login credentials provided in less than 5 minutes

9. True Forex Funds Phase 1 dashboard

10. True Forex Funds Phase 1 active dashboard

11. Phase 1 completed

12. Receive your login credentials for phase 2

13. Phase 2 login credentials provided in less than 24 hours

14. Phase 2 dashboard

15. True Forex Funds Phase 2 active dashboard

16. Phase 2 completed

17. Passed evaluation challenge

18. Successful verification process

19. Login credentials for funded account provide in less than 24 hours

Conclusion

In summary, True Forex Funds is a legitimate prop firm offering funding upon completion of the Evaluation Process for traders all around the world. With funding from $10,000 up to $400,000/trader or strategy in balance before scaling up, a high 80% profit split, bi-weekly payments, and relaxed trading rules, it’s a great firm for undercapitalized traders seeking investors for their trading.

I would recommend True Forex Funds for anyone who has been reaching consistent results for a while and is looking to scale up his capital. While they are still a relatively new firm, they are offering great conditions for a big pool of different styles of trading for individuals.

This review about True Forex Funds was lastly updated on 05.05.2022 at 10:17 (CE(S)T).

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

Let us know if you enjoyed our True Forex Funds Proprietary Trading firm review!

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True Forex Funds Review (10% cashback) Details

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4.0
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Deposit and withdrawal
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