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Overview
True Forex Funds, headed by CEO Richard Nagy, is a Hungary-based proprietary trading firm with two years in the industry. The firm offers trading on MT4 and MT5 platforms and works with a liquidity provider for brokerage services. True Forex Funds provides account sizes ranging from $10,000 to $200,000. The firm utilizes a two-step evaluation process, and the profit targets for the two-step evaluation process are set at 8% for Phase 1 and 5% for Phase 2. The maximum total drawdown is uniformly set at 10% across all challenges. The firm offers 40 Forex currency pairs and 13 different indices to capitalize on. For commodities, trading in precious metals like Gold, Silver, Palladium, and Platinum against the USD is available. The platform also includes trading in global energy commodities such as US and UK Oil or Natural Gas. Traders have a choice of over 30 leading company stocks, and for the crypto, 28 popular cryptocurrencies are available. In terms of leverage, True Forex Funds offers a 1:100 leverage on Forex pairs, Metals, Energies, and Indices. For Stocks (CFD), the leverage is set at 1:10, and for Cryptocurrencies, it is at 1:5.
CEO
Richard Nagy
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Established
October 2021
Country
Hungary
Broker
Liquidity Provider
Platform
MT4, MT5
Trust Pilot
4.7
INSTRUMENTS
- Forex: 24-hour trading, 5 days a week on 40 currency pairs with spreads starting from 0.0 pips.
- Indices: Trade on 13 different indices to leverage opportunities in the equities markets 24/5.
- Precious Metals: Trade Gold, Silver, Palladium, or Platinum against the USD.
- Energies: Engage with global energy sector dynamics through trading with US and UK Oil or Natural Gas.
- Stocks: Choose from over 30 world-leading company stocks to trade.
- Cryptocurrencies: Buy or sell from a selection of 28 of the most popular cryptocurrencies, available for trading 7 days a week.
LEVERAGE
1:100 Leverage
- Forex Pairs: Forex, or foreign exchange, pairs involve trading one currency for another. For example, EUR/USD is a forex pair that involves trading the Euro against the US Dollar. The leverage of 1:100 means that for every dollar you invest, you control $100 worth of the forex pair.
- Metals: Trading metals involves speculating on the price of precious metals like gold, silver, platinum, or palladium. The leverage of 1:100 applies here as well, implying you control $100 worth of metal for every dollar invested.
- Energies: This refers to trading in energy commodities like oil, natural gas, and others. Again, a leverage of 1:100 means for every dollar you invest, you control $100 worth of the energy commodity.
- Indices: An index (plural is indices) is a portfolio of stocks representing a particular market or a portion of it. For example, the S&P 500 is an index of the 500 largest US companies. A leverage of 1:100 on indices means that for every dollar you invest, you control $100 worth of the index.
1:10 Leverage
- Stocks (CFD): CFD means Contract for Differences. It means you’re not trading on the actual stock market, but through a derivative product that pays the differences in the settlement price between the open and closing trades. With a leverage of 1:10, for every dollar you invest, you control $10 worth of the stock.
1:5 Leverage
- Cryptocurrencies: Cryptocurrencies are digital or virtual currencies using cryptography for security. These include Bitcoin, Ethereum, and many others. A leverage of 1:5 on cryptocurrencies implies that for every dollar you invest, you control $5 worth of the cryptocurrency.
Commissions
- On Forex and metal pairs the comission is $3.5 per lot per side. Meaning $7 per lot round-turn.
- Commissions on indices are 0.0005% lot per side. As a reference, for US30 trading at $32,000, the commission is $0.16 per lot per side.
- The commission for crypto is 0.045% lot per side. If BTCUSD is traded at $25,000 the comission is $11.25 lot per side.
Scaling
True Forex Funds presents a structured scaling plan, offering the opportunity to trade up to $400,000 with an 80% profit split. The plan is focused on enabling traders to scale their capital up to $2.5 million. Traders of are entitled to a 25% increase in their initial deposit every 90 days. To qualify for this increase, traders must achieve an overall profit of 8% and make at least three withdrawals during this period. For instance, starting with a $400,000 account and consistently increasing the deposit by 25% every 90 days, a trader could potentially reach the $2.5 million mark in approximately five years. This estimate, however, is subject to individual trading performance and market conditions.
True Forex Funds also ensures an automatic upgrade of accounts once traders meet the specified criteria. Along with the increase in account size, loss limits are also adjusted in accordance with the new account deposit size post-scaling. For example, a trader who opens a $100,000 account and passes one of True Forex Funds' evaluation processes (One Phase, Two Phase, Quick, or Timeless Funding) is eligible for this scaling plan. Upon generating an 8% profit ($8,000) within 90 days and making the required three withdrawals, the account is automatically scaled up by 25%, resulting in a new funded account balance of $125,000. Traders can then continue to scale their accounts by meeting these criteria every 90 days.
DEMOACCOUNT
- Platform : MT4
- Server : TrueProprietaryFunds-DEMO
- Login : 1109374041
- Password : TFFspreads
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Chris Eng
October 19, 2023
-Step
this is one of the first prop firm i tried. As I can remember, i only take up one of the cheapest challenges. after purchase i never see much follow up by them.
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