In this comprehensive article, we delve into a detailed comparison of two renowned proprietary trading firms: True Forex Funds and FTMO. Our focus will be on evaluating these firms from a general perspective and then diving into a two-step comparison to offer insights for forex traders around the globe.
Company Overview
True Forex Funds and FTMO stand as two prominent players in the proprietary trading firm arena. Here’s a snapshot of their corporate profiles:
- Incorporation Dates: True Forex Funds began in October 2021, while FTMO has been operational since September 2015.
- CEOs: Richard Nagy leads True Forex Funds, and Otakar Suffner is at the helm of FTMO.
- Office Locations: True Forex Funds is based in Győr, Hungary, contrasting FTMO’s Prague, Czech Republic headquarters.
- Maximum Allocation Capital: Both firms offer traders the opportunity to manage up to $400,000 in their two-step evaluation accounts.
Notably, both firms also incorporate scaling plans in their business models.
Funding Program Options
Exploring the funding options, both True Forex Funds and FTMO cater to global forex traders with diverse offerings:
- True Forex Funds provides three distinct two-step evaluations and a simpler one-step evaluation.
- Conversely, FTMO focuses on their robust two-step evaluation program.
Two-step Evaluation: A Closer Look
Delving into the specifics of the two-step evaluation process, we find some notable differences and similarities:
- Profit Targets: Both firms set an 8% profit target in Phase 1, but FTMO increases this to 10%.
- Drawdown Limits: Daily and overall drawdown limits are consistent across both firms at 5% and 10% respectively.
- Leverage Options: True Forex Funds offers a standard 1:100 leverage, while FTMO ranges from 1:30 to 1:100.
- Minimum Trading Days: These vary slightly, with True Forex Funds requiring 5 calendar days and FTMO only 4.
- Trading Periods: Both offer unlimited trading in Phase 2, but differ in their Step 1 requirements.
- Profit Split: Generally, an 80% profit split is offered, with FTMO potentially offering up to 90%.
Comparative Pricing Structure
The pricing for account sizes across True Forex Funds and FTMO shows a range of options:
- Prices vary based on the account size, starting from €89 for a $10,000 account in True Forex Funds to €1,080 for a $200,000 account in FTMO.
Brokers & Trading Platforms
Both firms partner with Tier-1 Liquidity Providers and offer top-notch simulated real market trading conditions. Available platforms include:
- True Forex Funds: MetaTrader 4, MetaTrader 5
- FTMO: MetaTrader 4, MetaTrader 5, cTrader, DXtrade
Trading Instruments
A diverse range of trading instruments is available with both firms, encompassing:
- Forex Pairs, Commodities, Indices, Stocks, and Cryptocurrencies
- Additionally, FTMO also offers Bonds.
Community Feedback
Turning to Trustpilot for user reviews, both firms exhibit strong community trust:
- True Forex Funds holds a 4.7/5 rating from 2,257 reviews.
- FTMO stands slightly higher with a 4.8/5 rating from 5,999 reviews.
Conclusion
Conclusively, True Forex Funds and FTMO each present unique offerings in the proprietary trading firm arena. Key differences lie in funding program options, trading rules, pricing, and community feedback. While True Forex Funds provides a diverse range of evaluation steps, FTMO’s established presence and higher Trustpilot rating showcase its popularity among traders.
