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True Forex Funds: Reviews And In-Depth Analysis

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True Forex Funds has gone bankrupt.

They ceased operations allegedly due to financial insolvency.

But don’t worry, you can check here all the True Forex Funds alternatives.

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If you want to know what True Forex Funds was, keep reading the article.

True Forex Funds is a prop trading firm located in Hungary.

In this article, you’ll get a review of this prop firm, including analysis and instructions to get funded with an account from True Forex Funds.

Here’s what you’re going to learn:

What Is True Forex Funds?

True Forex Funds is a prop firm located in Hungary. It was founded in 2021 so it already has some experience with funding traders.

What Can You Trade With True Forex Funds?

True Forex Funds is a prop firm that funds traders to trade Forex and other CFDs trading assets.

Here’s a list of all of the instruments:

  • Forex: 40 different currency pairs.
  • Indices: A selection of 13, which includes Nasdaq, Dow Jones, Dax, and many others.
  • Metals: Gold Silver, Palladium, and Platinum
  • Commodities: Crude oil, Brent oil, and Natural gas
  • Stocks (CFDs): 30 different stocks.
  • Cryptocurrencies: The 28 most popular crypto.

What Are The True Forex Funds Account Sizes?

True Forex Funds funds traders with account balances that go from $10,000 up to $200,000. These accounts can be scaled up to $2.5 million.

To get access to a funded account you need to pass an Evaluation which can have either one or two phases. The price of the Evaluation is different according to the account size that you are applying to.

The prices of the smaller funded account start at €89 and go up to €998 for the bigger account.

What Is The True Forex Funds Leverage?

The leverage provided by the prop firm depends on the instrument category that you are trading. Here’s the list of leverage by category:

  • Forex pairs: 1:100
  • Metals: 1:100
  • Energies: 1:100
  • Indices: 1:50
  • Cryptocurrencies: 1:5

How Much Is The True Forex Funds Payout?

All Challenges from True Forex Funds come with an 80% profit split.

There are other prop firms with higher payouts, but we can say that this is pretty much the industry standard.

True Forex Funds Reviews

According to Trustpilot, True Forex Funds is classified as excellent. It’s scoring 4.6/5.0 after more than 900 reviews from users.

True Forex Funds 1-Phase Evaluation Challenge

The 1-phase challenge must be completed within 30 days. If you can’t achieve your target during this period you’ll need to restart the challenge again.

Here are all the details about this evaluation:

  • Minimum days to trade: 5 days.
  • Challenge duration: 30 days.
  • Maximum daily loss: 3%.
  • Maximum overall loss: 6%.
  • Profit target: 10%.

Once you pass this challenge you get a Funded account with the same characteristics. You just don’t have any targets or time restrictions. As long as you keep your account balance away from the maximum daily and overall losses, you get your profit split for the profits you’re able to make.

True Forex Funds 2-Phase Evaluation Challenge

This challenge, or evaluation, has two phases to pass. Each phase has a set of rules and objectives.

Let’s look at them in detail.

Phase 1

During this phase, you don’t have any time limit to achieve a profit target. There was one earlier, but TrueForexFunds removed it. Here are all the details:

  • Minimum days to trade: 0 days.
  • Challenge duration: No time limit.
  • Maximum daily loss: 5%.
  • Maximum overall loss: 10%.
  • Profit target: 8%.

Phase 2

After you complete the Phase 1 challenge, you’re ready to start Phase 2.

This phase, like the previous one, also doesn’t have any time limit to complete. You can take as much as you need to reach your profit goal.

All the rules are the same as in phase 1 except the profit target that reduces. Here are all the details:

  • Minimum days to trade: 0 days.
  • Challenge duration: As long as you need.
  • Maximum daily loss: 5%
  • Maximum overall loss: 10%
  • Profit target: 5%

True Forex Funds EAs (Expert Advisors)

If you like to use EAs to trade, True Forex Funds is a great prop firm for you. They allow almost all types of EAs, bots, trading tools, and indicators.

The only kind of strategies that are not allowed are the ones that take advantage of platform inefficiencies. Examples of this are: tick scalping, arbitrage, reverse arbitrage, hedge arbitrage, HFT trading, and emulators.

Any strategy that can’t be traded on live conditions is banned, which makes sense. What would be the point of trading something that only works on demo?

The only requirement is that trading can be replicated in live conditions.

True Forex Funds Free Trial

Unfortunately, True Forex Funds doesn’t offer free trials at the moment, but you can get a free repeat which is also good.

True Forex Funds Free Repeat

True Forex Funds provides free repeats for traders who want to take the challenges again.

The only requirement is that you are profitable at the end of the trading period (although you didn’t achieve the profit target), and of course, that you didn’t violate any rule.

Use the promo code link below to get unlimited free repeats. Don’t forget to delete your cookies if you already visited the True Forex Funds website.

True Forex Funds Platforms

True Forex Funds gives you access to the most popular trading platforms used by Forex brokers.

You can use:

  • cTrader
  • MatchTrader

True Forex Funds Trading Hours

There are no restrictions about holding trades overnight or during the weekend.

You can have your positions open for as long as you want according to your own trading style. Just be careful with daily and weekend gaps.

True Forex Funds News Trading

There are no restrictions on news trading. You just need to be careful with the volatility, but if you’re like me, those are the best times of the day to trade. Just don’t exceed your maximum safe lot size and manage your trades properly.

Is True Forex Funds Legit?

Yes, True Forex Funds is a legit company.

Here are the contacts to reach them:

  • Email: support@trueforexfunds.com
  • Address: Bajcsy-Zsilinszky út 27, 3rd-floor office. 9021, Győr, Hungary

You can also contact them through the live chat on their website.

True Forex Funds Alternatives

Here’s the list of the best True Forex Funds alternatives:

For more alternatives check our alternative prop firm tool:

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Recap

  • True Forex Funds is a prop trading firm based in Hungary.
  • You can get a funded account with up to $2.5 million in balance and an 80% profit split payout.
  • To get access to a funded account you need to pass a challenge with one or two phases.
  • You can trade Forex and other CFDs like Indices, Metals, Commodities, and Cryptocurrencies.
  • The popular cTrader and MatchTrader platforms are available to trade.

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