In this article, we will be making a general and two-step comparison between My Forex Funds and True Forex Funds.
My Forex Funds & True Forex Funds Two-step Comparison
In this article, we will be making a general and two-step comparison between My Forex Funds and True Forex Funds. We will compare the two mentioned proprietary trading firms in general and what they are offering to forex traders worldwide.
Company Details
| Company Details | My Forex Funds | True Forex Funds |
| Incorporation Date | July 2020 | October 2021 |
| CEO | Murtuza Kazmi | Richard Nagy |
| Office Location | Toronto, Canada | Győr, Hungary |
| Maximum Allocation Capital | 2x $300,000 | $400,000 |
My Forex Funds and True Forex Funds are both reliable and trustworthy proprietary trading firms. My Forex Funds was incorporated in July 2020, while True Forex Funds started operating in October 2021. When it comes to CEOs, Murtuza Kazmi is the CEO of My Forex Funds, while True Forex Funds is being run by Richard Nagy. My Forex Funds has offices located in Toronto, Canada, while True Forex Funds has its headquarters in Győr, Hungary. And lastly, when it comes to the maximum allocation capital, traders can manage 2x $300k two-step evaluation accounts with My Forex Funds, while with True Forex Funds, traders can obtain funding up to $400k. Note that both proprietary trading firms also have a scaling plan with unlimited upside potential.
Funding Program Options
| Funding Program Options | My Forex Funds | True Forex Funds |
| One-step Evaluation | ✅ | ❌ |
| Two-step Evaluation | ✅ | ✅ |
| Instant Funding | ✅ | ❌ |
My Forex Funds and True Forex Funds both offer multiple funding programs to forex traders worldwide. My Forex Funds offers a unique one-step evaluation, a two-step evaluation, and an instant funding program. True Forex Funds, on the other hand, offers a two-step evaluation.
That being said, let’s take a look at the comparison of the two-step evaluation programs.
Two-step Comparison:
| Trading Rules/Objectives | My Forex Funds | True Forex Funds |
| Phase 1 Profit Target | 8% | 8% |
| Phase 2 Profit Target | 5% | 5% |
| Daily Drawdown | 5% | 5% |
| Overall Drawdown | 12% | 10% |
| Leverage | 1:100 | 1:100 |
| Minimum Trading Days | 5 calendar days | 5 calendar days |
| Trading Period | Step 1: 30 calendar days Step 2: 60 calendar days | Step 1: 30 calendar days Step 2: 60 calendar days |
| Profit Split | 75% up to 90% | 80% |
Now that we have gone covered all the rules and guidelines of the two-step evaluation. Let’s take a closer look at prices.
| Account Size | My Forex Funds | True Forex Funds |
| $5,000 | $49 | ❌ |
| $10,000 | $84 | €89 |
| $20,000 | $139 | ❌ |
| $25,000 | ❌ | €189 |
| $50,000 | $299 | €299 |
| $100,000 | $499 | €499 |
| $200,000 | $979 | €998 |
| $300,000 | $1,389 | ❌ |
Brokers & Trading Platforms
After covering all the trading objectives, rules, and pricing, let’s take a closer look at brokers and trading platforms that we can use with each proprietary trading firm.
| My Forex Funds | True Forex Funds | |
| Broker | Traders Global Group | Tier-1 Liquidity Provider with Direct Market Access |
| Trading Platform | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 |
Trading Instruments
Another important factor when comparing proprietary trading firms is trading instruments. Below you can see which trading instruments we can trade with My Forex Funds and True Forex Funds.
| Trading Instrument | My Forex Funds | True Forex Funds |
| Forex Pairs | ✅ | ✅ |
| Commodities | ✅ | ✅ |
| Indices | ✅ | ✅ |
| Stocks | ❌ | ✅ |
| Crypto | ✅ | ✅ |
Community Feedback
The last topic we will go through is community feedback from My Forex Funds and True Forex Funds. We will be looking at feedback from Trustpilot regarding both proprietary trading firms.
| Trustpilot statistics | My Forex Funds | True Forex Funds |
| Rating | 4.8/5 | 4.5/5 |
| Number of Reviews | 10,871 | 641 |
My Forex Funds has a rating of 4.8/5 out of a total of 10,871 reviews, while True Forex Funds has a rating of 4.5/5 out of 641 reviews. Based on the statistics, we can clearly see that My Forex Funds is the more popular proprietary trading firm at the moment.
Conclusion
In conclusion, My Forex Funds and True Forex Funds are two excellent proprietary trading firm choices for any trader. We can see some clear differences regarding the trading rules and objectives, prices, and community feedback. In addition, we can also see that there is a difference regarding funding program options since My Forex Funds offers the following three: one-step evaluation, two-step evaluation, and instant funding. On the other hand, True Forex Funds offers a two-step evaluation.
We will be ending the comparison with our special discount codes for each of the two compared proprietary trading firms. You can find both discount codes below!
My Forex Funds 5% active discount code: forexpropreviews5
True Forex Funds has a 15% cashback option for those who purchase a challenge through our affiliate link
This comparison was lastly updated on 16.02.2023 at 14:49 (CE(S)T).
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SCAM!!! SCAM!!!
They blocked me two 200k funded accounts saying that my trading style is similar to other people.
Don’t waste your money with them! It’s a SCAM
Viktor Meszaros
Risk Manager
True Forex Funds
trueforexfunds.com
viktor.m@trueforexfunds.com
Investment scam
Customer Advisory: Beware of Fee Scams
Is Your Forex Broker a Scam?
Kindly note that based on your description of why they refused to provide you with live-funded accounts, you clearly breached the maximum allocation capital rule. This can occur by two different methods. Firstly if you are using an EA that is not yours, meaning that more people have access to which consequentially has the possibility of breaching the maximum allocation rule of $400k. The second option is if you were using any type of third-party copy trading or signals service. The problem with this one is that more people have access to it which enables the chance of breaching the $400k maximum allocation rule.
In addition, kindly note that True Forex Funds are a legitimate proprietary trading firm that pays its traders on a regular basis as long as all the rules are being followed that is stated in the contract agreement that you sign and that is mentioned in their Terms & Conditions.