True Forex Funds Review - Updated 2024: Broker Pros & Cons Reveale (2024)

Editor’s Verdict

True Forex Funds is a Hungarian Forex prop firm founded in 2021. It has traders from 110+ countries and paid out $30M+ to traders in the first nine months of 2023. True Forex Funds has introduced a one-phase funding program. Traders will get an 80% profit share; the average payout arrival time is less than 24 hours. Also, the prop trading firm accepts cryptocurrency transactions. I reviewed this Forex prop firm to evaluate its funding process and market competitiveness.

Overall

Fees

Deposit and withdrawal

Asset selection

Ease of account opening

Regulation and security

The Pros & Cons of True Forex Funds

Traders should consider the pros and cons of True Forex Funds. I have summarized the features that stood out the most during my review.

Pros

Overview

True Forex Funds offers one-phase funding challenges without performance pressure.

I like the absence of minimum or maximum trading day requirements at True Forex Funds, ensuring Forex prop traders can execute their strategies without unnecessary time pressure. The one-phase funding challenge is a welcome characteristic, and I like the overall asset selection, which True Forex Funds continues to expand. The only feature missing for me is a profit share during the evaluation process.

	Headquarters	Hungary
	Year Established	2021
	Trading Platform(s)	MetaTrader 4, MetaTrader 5
	Minimum Evaluation Fee	€89
	Profit-share	80%
	Daily Loss Limit	5%
	Maximum Trailing Drawdown	10%
	Funded Account Options	5
	Minimum Funded Account	$10,000
	Maximum Funded Account	$200,000

True Forex Funds Trustworthiness & Reputation

Trading with a Forex prop firm, which is an unregulated business, requires traders to ensure that a trusted brokerage handles all accounts and that the Forex prop firm maintains an excellent reputation among its prop traders.

Is True Forex Funds Legit and Safe?

True Forex Funds, founded in 2021, belongs to the newer prop trading firms, but that does not mean they are out to defraud traders. On the contrary, they have amassed a 4.7 out of 5.0 rating on Trustpilot based on 2,237 reviews.

True Forex Funds is owned and operated by TFF International Kft., registration number 08-09-034894m, located at 9022 Győr Móricz Zsigmond rkp. 1/B. fszt. 14 in Hungary. Richard Nagy is the Chairman and CEO of the company, but I would like more transparency about the core management team. My review found no negatives, malpractice, or fraud about True Forex Funds. I cautiously rate them as a prop trading firm that traders will find well worth a closer look. It processes withdrawals fast, and funds arrive in less than 24 hours, indicating stability. True Forex Funds lacks operational longevity but has executed its business well since its inception.

True Forex Funds Features

True Forex Funds follows best practices duplicated across the Forex prop firm industry, which remains in its infancy.

The most notable features at True Forex Funds are:

One-step or two-step evaluation with a profit target of 10% and 8%/5%, respectively
No minimum or maximum trading requirements
MT4 and MT5 trading platforms
Maximum leverage of 1:100
A 3% to 5% daily loss limit
A 6% to 10% overall loss limit
80% profit share
Algorithmic trading and HFT strategies allowed
Refundable evaluation fee
Average time for withdrawal arrivals of less than 24 hours
40 currency pairs, including exotics and emerging markets
6 commodities
13 indices
30 bluechip equity CFDs
28 cryptocurrencies
USD, EUR, and GBP accounts

Evaluation Fees & Profit-Share

Traders must pay a one-time evaluation fee, depending on the desired funded account size and evaluation type. True Forex Funds offers five funding options with a refundable evaluation fee between €89 and €998. Please note that traders cannot change the account value once approved, meaning if they qualify for a $10,000 account, they will manage a $10,000 portfolio.

The maximum profit share at True Forex Funds is 80%, placing it near the top of the range. The profit targets during the evaluation period rank among the lowest industry-wide, and there is no minimum requirement for funded traders. Therefore, I rate True Forex Funds among the best prop trading firms for traders to get a funded account and start earning.

The minimum evaluation fee at True Forex Funds for a $10,000 MT4 account is:

Type of fee	Fee (without discounts)
One-time evaluation fee for a $10,000 funded account (the smallest one)	€89
Hold-over-the-weekend	Not applicable
Double leverage	Not applicable
Stop-loss not required at trade entry	Not applicable
Total one-time fees for a $10,000 MT4 account	€89

	Minimum Evaluation Fee	€89
	Maximum Evaluation Fee	€998
	Profit-share	80%

Account Types

True Forex Funds offers 5 account types with sub-account options consisting of one-phase or two-phase verification, quick funding, which eliminates the 5-day minimum trading day requirements, and timeless funding, eliminating the 60-day maximum trading days to achieve profit targets.

The maximum funded account balance is $200,000, but portfolio scaling can increase it to $2,500,000. The evaluation fee depends on the desired account balance and settings, and traders cannot change it once the evaluation begins. The trading rules follow well-established industry standards, except for lower profit target requirements. I also like that True Forex Funds refunds the evaluation fee to all traders accepted as prop traders.

What are the Trading Rules at True Forex Funds?

The True Forex Funds evaluation starts once prospective prop traders choose their preferred evaluation account settings and pay the evaluation fee. The profit targets for the two-phase challenge are 8% and 5%, respectively, versus 10% for the one-phase alternative. Minimum and maximum trading day requirements can range between 5 and 60 days or, in certain cases, unlimited days.

Violating the trading rules results in disqualification, but traders with time-limited accounts who do not violate the trading rules get unlimited free retrials.

The trading rules for the True Forex Funds Challenge are:

5% daily loss limit (two-step verification)
3% daily loss limit (one-step verification)
10% maximum overall loss (two-step verification)
6% maximum overall loss (one-step verification)
One-phase verification with a minimum of five trading days over 30 days

Noteworthy:

True Forex Funds will never grant access to live trading accounts
Accepted prop traders will manage demo accounts, and the True Forex Funds software duplicates them in live trading accounts of True Forex Funds

Trading Platforms

True Forex Funds offers the MT4/MT5 trading platforms but fails to detail its brokers. It notes that it works with leading liquidity providers and cryptocurrency exchanges but keeps potential traders in the dark, which I find unfortunate.

The maximum leverage is 1:100, and True Forex Funds notes spreads from 0.0 pips without providing commission costs. The choice of liquid assets caters well to aggressive short-term traders, the primary target for most prop trading firms. I like the provision of investor login details to MT4/MT5, which allows traders to evaluate trading conditions without placing orders.

True Forex Funds maintains a blog with well-written educational content and interviews with funded traders. Even so, beginners need to find a place in the ultra-competitive, fast-paced, high-stress, result-driven professional trading environment.

I like what True Forex Funds has accomplished, but I cannot ignore the targeting of beginners. They are unlikely to pass the evaluation process, for which the available educational content is irrelevant. Only seasoned traders with experience should consider prop trading.

I am also against the frequent pop-ups in the bottom right corner of withdrawals from prop traders, which takes away from the legitimacy of this prop firm, as it follows a marketing-first approach.

	MT4
	MT5
	cTrader
	Proprietary Platform
	Automated Trading
	Scalping

Customer Support

Customer support is available 24/5 via live chat and e-mail at True Forex Funds, but I recommend the FAQ section, located under “Assistance,” which answers many questions. The firm lacks a direct line to the finance department, where most issues could arise, but the overall approach to customer support is good.

Customer Support Methods
	Support Hours	24/5
	Website Languages

How to Get Started with True Forex Funds

Traders can start by clicking “Get started” on the homepage and then clicking on “Sign up.” A pop-up registration screen appears, asking traders to provide basic details. Please note that this registration will grant access to the back office, where traders can select their desired account option and pay the evaluation fee. I prefer the approach most prop trading firms take, where account selection and registration are combined in a single step. Once traders pay the evaluation fee, they will receive their login details, and the trading challenge begins.

Minimum Evaluation Fee

The minimum evaluation fee at True Forex Funds is €89 for the $10,000 evaluation challenge.

Payment Methods

True Forex Funds supports credit/debit cards and cryptocurrencies.

Accepted Countries

True Forex Funds claims traders from 110+ countries and does not list restrictions. It also notes that traders from restricted countries per AML sanctions, like Iran, Syria, and North Korea, are welcome but face due diligence.

How to Pay the Evaluation Fee?

Prop traders can pay their evaluation fee via credit/debit cards and cryptocurrencies.

	Withdrawal options
	Deposit options

The Bottom Line - Is True Forex Funds a Good Forex Prop Firm?

I like True Forex Funds for its attainable profit targets and the option to achieve them without minimum or maximum trading requirements. The profit share of 80% ranks near the top among its competitors, and traders can use algorithmic trading solutions, scalping, and HFT strategies. I prefer more transparency concerning the management team, ownership, and brokers, but my review found nothing wrong with this prop trading firm. The one-phase evaluation is a nice feature for traders who accept the limits, and the evaluation fees are acceptable.

True Forex Funds is a highly rated prop firm on Trustpilot, and I regard it among the best prop firms for traders to pass their evaluation. It is a relatively new firm, but it could boost its market share significantly in time, and I can recommend True Forex Funds to prop traders.

Broker Comparison

Brokers Comparison FTMO vs True Forex Funds

FAQs

What is the minimum trading day requirement for True Forex Funds?

There is a 5-day trading requirement within 30 days for the one-phase evaluation challenge, but traders can get unlimited trading days for the two-phase alternative.

Is True Forex Funds swap-free?

Several sources claim that True Forex Funds offers swap-free accounts, but its website does not advertise their availability.

How long does it take to withdraw funds from True Forex Funds?

The average time for withdrawals to reach traders is less than 24 hours.

Where is True Forex Funds based?

True Forex Funds is based in Hungary.

Is True Forex Funds reliable?

Yes, True Forex Funds is a reliable and highly rated prop trading firm.

About the Author

DailyForex.com Team

The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.