Written by IVAN S.
Fact checked by CEZARY J.

True Forex Funds

This prop trading firm from Hungary, stands out for its transparent conditions and trader-centered approach, gaining respect in the global trading community.
4.38
Overall score
True Forex Funds Introduction

True Forex Funds operates a program where traders undergo a two-stage assessment. In the first stage, they must achieve an 8% profit, followed by 5% in the second phase. The rules include a daily loss limit of 5% and a total loss limit of 10%. Traders have the flexibility of no minimum trading days and can choose from various account sizes, denominated in three different currencies. Maximum sum of funds is $400,000. A separate, one-stage program demands a 10% profit within 30 days, with daily and total loss limits of 3% and 6% respectively, and a minimum of 5 trading days.

The platform offers a growth opportunity where traders can increase their funds every quarter, up to $2.5 million, by meeting certain requirements like an 8% profit over 90 days and three successful withdrawals.

Traders have access to a diverse range of assets including currencies, indices, and more. Profits are shared, with traders getting 80% of the gains.

True Forex Funds supports various payment methods including card payments, bank transfers, and cryptocurrencies, with bi-weekly withdrawal processing and options like USDT and ERC20. The platform ensures transparency and does not charge extra for withdrawals.

Customer support is available all week through email and live chat, and the platform is active on social media. The website features useful tools for traders, such as a dashboard and equity simulator, and offers educational content to help users understand trading fundamentals.

2 – Phase Evaluation
High rating of challenge difficulty.
Maximum sum of funds: Up to $400,000 in total.
The smallest account size is $5,000.
The price for the challenge near the market average.
Issues with Trade Execution: Complaints about delayed execution and latency issues are raised, affecting the trading experience negatively.
Company Profile

True Forex Funds

Location of Operations:

Móricz Zsigmond rkp. 1/B. fszt. 14, 9022, Győr, Hungary

Company Info:

Date of Incorporation: October 2021

Type: Proprietary Firm

Restricted countries: Iran, North Korea, Syria

CEO: From Hungary, Richard Nagy is the Chief Executive Officer of True Forex Funds. There is very little information about him on the Internet.
Linkedin: https://www.linkedin.com/in/rich%C3%A1rd-nagy-9281a1229/

Key information
Overall score
4.38
Challenge fees
3.8
Challenge difficulty
4.38
Dashboard UX
4.8
Commision & spread
4.6
Scaling plan
3
2-phase Challenge
Challenge name 2 – Phase Evaluation
$100k Challenge Fee 540$
FX leverage 1:100
EA trading Yes
News trading Yes
Weekend holding Yes
Phase 1
Trading period
UNLIMITED
Min. trading days
0
Profit target
8%
Maximum loss
10%
Maximum daily loss
5%
Phase 2
Trading period
UNLIMITED
Min. trading days
0
Profit target
5%
Maximum loss
10%
Maximum daily loss
5%
Payout
Profit split
80/20%
First withdrawal
14 days
Min. days to payout
14
Refundable Fee
100%
TrueForexFunds in detail
Challenge type

2 – Phase Evaluation

The 2 – Phase Evaluation of prop trading challenge involves two phases to qualify for a funded account. Investors can choose between Euro, Dollar, and Pound denominations with six account sizes. The maximum total funds available is $400,000.

Phase one requires an 8% profit with, daily drawdown up to 5%, overall drawdown up to 10%. There are also no limits regarding the maximum number of trading days and no minimum trading days.

Phase two involves a 5% profit with similar drawdown conditions. The funded account phase has no specific profit targets, daily drawdown up to 5%, overall drawdown up to 10%, and no minimum trading days.

Advancement grants a 100% refundable fee, with the first withdrawal possible after 14 days. Subsequent withdrawals can be made every two weeks, and the profit split is 80/20.

Phase 1: Requires achieving an 8% profit without a time limit.
Trading crypto on weekends
Maximum sum of funds: Up to $400,000 in total.
Trading overnight Yes
Trading during weekends Yes
News trading Yes
EA trading Yes
Cryptocurrencies Yes

1 – Phase Evaluation

The 1 – Phase Evaluation of prop trading challenge involves phase to qualify for a funded account. Investors can choose between Euro, Dollar, and Pound denominations with six account sizes. The maximum total funds available is $400,000.

Phase one requires an 10% profit within 30 days of the first trade, with daily drawdown up to 3%, overall drawdown up to 6%. The minimum number of trading days is 5.

Advancement grants a 100% refundable fee, with the first withdrawal possible after 14 days. Subsequent withdrawals can be made every two weeks, and the profit split is 80/20.

Only one phase.
Up to $400,000 in total.
Trading crypto on weekends.
Daily Drawdown up to 3% and overall Drawdown up to 6% of the initial account balance of the current day.
Number of days required to achieve profit from the first trade: 30
Minimum number of trading days: 5
Trading overnight Yes
Trading during weekends Yes
Trading during economic events Yes
EA trading Yes
Cryptocurrencies Yes
Scaling Plan
3

The True Forex Funds Platform offers a unique Scale Up program, enabling clients to gradually enhance their account balance every three months, up to a ceiling of 2.5 million USD. To be eligible for this feature, investors must fulfill certain conditions:

  • Attain a minimum 8% total profit in their funded account within a span of 90 days.
  • Complete a minimum of three successful withdrawals to be considered for this scale-up option.

Once these criteria are met, the platform automatically upgrades the investor’s account, permitting a 25% increase in account balance every quarter. Additionally, it’s important to note that with each account upgrade, the loss limits are recalibrated to match the increased deposit amount.

Challenge fees
3.8

Comparison of Direct Challenge Costs

We compare the direct costs of participating in the challenge offered by TrueForexFunds – 2 Phase Evaluation with the average market costs. This analysis enables understanding of how True Forex Funds fares against its competitors in terms of pricing. The costs for the challenge at True Forex Funds for the 2 Phase Evaluation are mostly like the market average.

*The costs in the table have been converted from euros to dollars for normalization purposes.

*The price includes a discount available on the website.

Challenge Size Market Average Price Challenge Price Difference
10 000$ 108$ 96$* -12$
25 000$ 209$ 205$* -4$
50 000$ 310$ 324$* +14$
100 000$ 515$ 540$* +25$
200 000$ 969$ 1 081$* +112$

Comparison of Costs Relative to Drawdown

It is important to note that the size of drawdown has a significant impact on what we actually receive for the money spent. The 2 Phase Evaluation has a drawdown at the level of 10%. Therefore, we additionally compare how much drawdown we receive in relation to the dollar spent.

 

Challenge Size Market Average Price [Drawdown$/$] Challenge Price [Drawdown$/$] Difference [Drawdown$/$]
10 000$ 8,6 10,4 +1,8
25 000$ 11,4 12,2 +0,8
50 000$ 15,4 15,4 0
100 000$ 18,5 18,5 0
200 000$ 20,4 18,5 -1,9

Evaluation of the Cost-Effectiveness of the True Forex Funds Account Challenge

Based on the above data, as well as algorithms we have developed, we assess the cost-effectiveness of purchasing the 2 Phase Evaluation as good compared to the market average. It’s worth mentioning that the final assessment is also influenced by profit target at the level of 8%.

Assets

Forex

AUDCAD AUDCHF AUDJPY AUDNZD AUDUSD
CADCHF CADJPY CHFJPY EURAUD EURCAD
EURCHF EURGBP EURJPY EURNOK EURNZD
EURPLN EURSEK EURTRY EURUSD GBPAUD
GBPCAD GBPCHF GBPJPY GBPNZD GBPUSD
NZDCAD NZDCHF NZDJPY NZDUSD USDCAD
USDCHF USDHKD USDJPY USDMXN USDNOK
USDPLN USDSEK USDTRY USDZAR

Indices

AUS200 BRAIND CHNIND GER30 EU50
FRA40 HKIND IND50 ITA40 JAP225
KOSP200 MEXIND RUS50 SA40 SPA35
SUI20 UK100 US100 US30 US500
US2000 USDIDX VIX W20

Spot indices

AUS200.spot CHNIND.spot GER30.spot EU50.spot FRA40.spot
HKIND.spot ITA40.spot JAP225.spot SPA35.spot UK100.spot
US100.spot US30.spot BRENT.spot NGAS.spot WTI.spot

Commodities

BRENT BUND COCOA COFFEE CORN
COTTON NGAS SOYBEAN SUGAR TNOTE
WHEAT WTI

Metals

ALUMINIUM COPPER XAGUSD XAUUSD XPTUSD
XPDUSD ZINC

Stocks

AMAZON.US ALIBABA.US APPLE.US BOA.US BOEING.US
CITI.US DISNEY.US EBAY.US EXXON.US FB.US
FERRARI.US FORD.US GM.US GOOGLE.US IBM.US
INTEL.US MSFT.US NFLX.US PEPSI.US SNAP.US
SBUX.US TESLA.US WMT.US ZM.US JPM.US
GME.US MRNA.US LMT.US APA.US

Cryptocurrencies

ADAUSD AVEUSD BCHBTC BCHUSD BSVUSD
BTCEUR BTCUSD DOTUSD DSHUSD EOSUSD
ETHBTC ETHUSD LNKUSD LTCBTC LTCUSD
THTUSD TRXUSD UNIUSD VETUSD XEMUSD
XLMUSD XMRUSD XRPEUR XRPUSD XTZUSD
DOGUSD BNBUSD
UX Rating
4.3

TrueForexFunds website offers a notably positive UX experience, clearly outlining its services and the prop trading concept. The registration and challenge purchase processes are straightforward, user-friendly, and guide users seamlessly. The website operates smoothly with minimal loading times, and the well-designed dashboard facilitates easy navigation and access to essential information. 

However, the overall dark design could impact text readability and cause eye strain for some users. Improving text readability and balancing the visual elements would greatly enhance the overall UX. Incorporating more customizable visual settings could offer users the flexibility to adjust the interface according to their preferences, thereby catering to a wider audience.

Trading conditions

True Forex Funds does not disclose its liquidity providers. The firm’s strategy emphasizes offering spreads as low as 0.0 pips, enabled by these partnerships with tier-1 liquidity providers. TFF doesn’t disclose comprehensive details about its liquidity providers but assures collaboration only with well-regarded entities.

In terms of trading platform, True Forex Funds offers its services on cTrader and Match-Trader.

Regarding leverage, True Forex Funds provides a variety of fixed leverage options tailored for different types of trading assets. The leverage ratios available are as follows:

  • For Forex, Metals, Energies, and Indices: 1:100.
  • For Stocks: 1:10.
  • For Cryptocurrencies: 1:5.
Deposits and Withdrawals

Deposits

For the True Forex Funds Challenge, you can pay via bank transfer, debit/credit card or cryptocurrencies. True Forex Funds accepts MasterCard, Visa and cryptocurrencies like:

Bitcoin Ethereum Litecoin Dogecoin Tether
USD Coin

Due to regulatory reasons, bank transfers are not available for payments/withdrawals in Iran, Syria, North Korea.

 

Withdrawals

Read more
Support

True Forex Funds provides round-the-clock customer support from Monday to Friday through email and live chat. Below is a list of available channels:

Read more
Social Media and Communication

True Forex Funds actively maintains a social media presence on platforms such as Instagram, Facebook, and X, as well as on Discord and YouTube.

Read more

Engagement rate in social media:

Platform Followers Engagement Rate
Facebook 7300 8,97
X 14200 0,21
Instagram 40100 1,05
Youtube 5480 6,95
Client Reviews Summary
4.4
Review platform Rating Number of reviews
Trustpilot 4.4 2918
Trustindex 4.7 1031

True Forex Funds (TFF) has an overall score of 4.4 out of 5, indicating a generally positive reception among its users. The TFF’s approach to responding to ~50% of negative reviews also reflects a level of engagement with customer feedback. The following points synthesize the key insights from both positive and negative reviews:

 

Read more
Summary

True Forex Funds is a company founded in 2021. It offers both two-stage and one-stage challenges with very advantageous rules. Thanks to this, True Forex Funds can meet most of the clients expectations regarding the prop trading market.

The number of reviews on Trustpilot is about 2600, with an average rating of 4.4, confirming the credibility of True Forex Funds and its position as a leading prop trading firm. The website is user-friendly, ensuring positive experiences when purchasing challenges or checking necessary information. True Forex Funds also deserves recognition for its low spread.

Among the weaker aspects of the company are an average scaling plan and high costs of purchasing challenges.

In conclusion, True Forex Funds is a recommendable and cooperative company. Over the years, it has proven its position in the prop trading market and now enjoys the trust of traders.

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