True Forex Funds Review (15% cashback)
4.0

True Forex Funds Review (15% 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
  • Excellent Trustpilot rating of 4.3/5
  • Unlimited evaluation free retries
  • Free retries can be applied for phases one and two
  • Leverage 1:100
  • Profit share 80%
  • Weekend positions
  • No regulations on your trading style
Cons
  • High evaluation account prices

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% while being partnered with a tier-1 liquidity provider who gives direct market access as their broker.

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

Evaluation program accounts

Account sizePrice
$10,000€89
$25,000€189
$50,000€299
$100,000€499
$200,000€998

True Forex Funds evaluation program account aims to identify serious and talented traders who are rewarded for their consistency in the two-phase evaluation period. The evaluation program account allows you to trade with 1:100 leverage while also being to choose your account funding between USD, EUR, and GBP.

Evaluation phase one requires a trader to reach a profit target of 8% while not surpassing their 5% maximum daily loss or 10% 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. You are also required to trade a minimum of five trading days in order to proceed to phase two.

Evaluation phase two requires a trader to reach a profit target of 5% while not surpassing their 5% maximum daily loss or 10% 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. You are also required to trade a minimum of five trading days in order to proceed to a funded account.

By completing both evaluation phases, you are awarded a funded account where you have no profit targets. You are only required to respect the 5% maximum daily loss and 10% maximum loss rules. Your first payout is 14 calendar days from the day you place your first position on your funded account, while all the following payouts are also on a bi-weekly basis. Your profit split will be 80% based on the profit you make on your funded account.

Another incredible thing to note is that True Forex Funds also offers a unique free retry for both evaluation phases:

  • If a phase one account’s 30 calendar day trading period expires but the free retry conditions are met, you will receive your new phase one login credentials the following business day.
  • If a phase two account’s 60 calendar day trading period expires but the free retry conditions are met, you will receive your new phase two login credentials the following business day. (Meaning that you aren’t required to start back at phase one)

Evaluation program account scaling plan

Evaluation program accounts also have a scaling plan. You are required to reach a profit target of 8% or more within a three-month period where two out of the three months were profitable. You will receive an account increase of 25% of the original account balance.

Example:

After 3 months: If you have a $200,000 account, your account balance will increase to $250,000.

After next 3 months: Balance of $250,000 increases to $300,000.

After next 3 months: Balance of $300,000 increases to $350,000.

And so on…

Trading instruments for the evaluation program accounts are forex pairs, commodities, indices, and cryptocurrencies.

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. Phase 1 profit target is 8% while phase 2 has a profit target of 5%. 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 10%.
  • 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. Both phases have a 5 minimum trading day requirement, while on a funded account, you have no minimum trading day requirements.
  • Maximum trading days are the maximum period in which you are required to hit a specific profit target or withdrawal target. Phase 1 has a maximum of 30 trading days period while phase 2 has a maximum of 60 trading days period.
  • 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 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. You can trade during news, hold trades overnight, and during the weekends.

Compared to other prop firms, the True Forex Funds evaluation program is a two-phase evaluation program that requires traders to complete two phases before being eligible for payouts. The profit target is 8% in phase one and 5% in phase two, with a 5% maximum daily and 10% maximum loss rules. You are also required to trade for a minimum of 5 days in each phase before becoming funded. Evaluation programs also have a scaling plan. Compared to other industry-leading prop firms, they have low profit targets and relaxed trading rules to follow.

Example of comparison between True Forex Funds & Finotive Funding:

Trading objectivesTrue Forex FundsFinotive Funding
Phase 1 profit target8%7.5%
Phase 2 profit target5%5%
Maximum daily loss5%5%
Maximum loss8%10%
Minimum trading days5 calendar daysNo minimum trading days
Profit split80%75% up to 95%

Example of comparison between True Forex Funds & FundedNext:

Trading objectivesTrue Forex FundsFundedNext
Phase 1 profit target8%10%
Phase 2 profit target5%5%
Maximum daily loss5%5%
Maximum loss10%10%
Minimum trading days5 calendar days5 calendar days
Profit split80%80% up to 90%

Example of comparison between True Forex Funds & E8 Funding:

Trading objectivesTrue Forex FundsE8 Funding
Phase 1 profit target8%8%
Phase 2 profit target5%5%
Maximum daily loss5%5%
Maximum loss10%8%
Minimum trading days5 calendar daysNo minimum trading days
Profit split80%80%

In conclusion, True Forex Funds is different from most of the industry-leading prop firms due to never regulating your trading style. You can trade during news, hold trades overnight, and during the weekends. In addition, you also have low profit targets and average minimum trading day requirements during both evaluation phases.

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.

Receiving capital from the evaluation program accounts is realistic mostly since they have relatively low profit targets (8% in phase one and 5% in phase two) with average maximum loss rules (5% maximum daily and 10% maximum loss).

After considering all of that, True Forex Funds 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

True Forex Funds is a well-established proprietary trading firm that was incorporated in October 2021. That being said, we can find a lot of payment proof out there already from their successfully funded traders. The proof can be seen on Trustpilot from reviews from their community, as well as on their Discord channel, where you can find numerous payout certificates from traders.

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. 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.

Which broker does True Forex Funds use?

True Forex Funds doesn’t trade with common broker brands. They are partnered with a tier-1 liquidity provider that supplies the institutional data feed with the direct market access execution model on their live corporate accounts.

As for trading platforms, you can choose from the following:

Trading instruments

True Forex Funds offers a large variety of trading Instruments. You are allowed to trade forex pairs, commodities, indices, and cryptocurrencies with up to 1:100 leverage.

FOREX:AUD/USDEUR/USDGBP/USDNZD/USDUSD/CAD
USD/CHFUSD/JPYAUD/CADAUD/CHFAUD/NZDAUD/JPY
CAD/CHFCAD/JPYCHF/JPYEUR/AUDEUR/CADEUR/CHF
EUR/GBPEUR/JPYEUR/NZDGBP/AUDGBP/CADGBP/CHF
GBP/JPYGBP/NZDNZD/CADNZD/CHFNZD/JPYEUR/NOK
EUR/PLNEUR/SEKUSD/HKDUSD/MXNUSD/NOKUSD/PLN
COMMODITIES:XAG/USDXAU/USDXPT/USDXPD/USDBRENT
NGASWTI
INDICES:AUS200ITA40CHNINDEU50FRA40
GER30HKINDJAP225SPA35US100US30
US500
CRYPTO:ADA/USDAVE/USDBCH/BTCBCH/USDBNB/USD
BSV/USDBTC/EURBTC/USDDOG/USDDOT/USDDSH/USD
EOS/USDETH/BTCETH/USDLNK/USDLTC/BTCLTC/USD
THT/USDUNI/USDVET/USDXEM/USDXLM/USDXMR/USD
XRP/EURXRP/USDXTZ/USD

Trading fees

Trading commission:

AssetsFee terms
FOREX 7 USD / LOT
COMMODITIES 3.5 USD / LOT
INDICES 0.32 USD / LOT
CRYPTO 5.69 USD / LOT

Spread:

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

PlatformServerLogin numberPasswordDownload platform
MetaTrader 4TrueProprietaryFunds-DEMO1109229954S1lxwoLDownload

Education & Support for traders

True Forex Funds do not provide any additional educational programs.

True Forex Funds, on the other hand, has an active thread on ForexFactory where you can get some additional information about the prop firm from a wider range of their community.

Traders’ comments about True Forex Funds

True Forex Funds has great feedback from their community. 

On Trustpilot, they have a large variety of their community commenting and giving positive feedback with a great score of 4.3/5 out of 501 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 conditions. In addition, they also provide straightforward trading objectives and rules.

Social media statistics

True Forex Funds can also be found on social media. 

They have a:

Facebook page with 2,4,k followers,

Instagram profile with 12,2k followers,

Youtube channel with 1,77k subscribers with 6 uploaded videos and,

Twitter account with 929 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 provided in less than 24 hours

Conclusion

In conclusion, True Forex Funds 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-phase evaluation challenge that requires the completion of two phases before becoming funded and being eligible to earn profit splits. True Forex Funds require traders to reach profit targets of 8% in phase one and 5% in phase two before becoming funded which are realistic trading objectives considering you have a 5% maximum daily and 10% maximum loss rules to follow. With evaluation programs, you can earn 80% profit splits while also being able to scale your accounts.

I would recommend True Forex Funds to anyone who is looking for a prop firm with straightforward trading rules. They are a well-established proprietary trading firm who offer excellent conditions for a big pool of individuals with unique trading styles. After considering everything True Forex Funds has to offer, they are for sure one of the industry-leading prop firms.

This review about True Forex Funds was lastly updated on 01.02.2023 at 07:22 (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!

True Forex Funds Review (15% cashback) Details

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

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