Since its inception in October 2021, True Forex Funds, a leading proprietary trading firm, has been making waves in the industry. With its headquarters nestled in Budapest, Hungary, this European-based firm presents a dynamic opportunity for traders globally.
Comprehensive Evaluation Challenge and Account Options
The funded programme offered by True Forex Funds features a two-phase evaluation challenge. Traders have the flexibility to choose from diverse account sizes ranging from $10,000 to $200,000, and the convenience of selecting their funding currency from options like USD, EUR, and GBP. The pricing for each account size is as follows:
- $10,000 account for €89
- $25,000 account for €189
- $50,000 account for €299
- $100,000 account for €499
- $200,000 account for €998
Phase One of the Evaluation
In the first phase of the evaluation, traders are tasked with achieving an 8% profit target. They must adhere to a 5% maximum daily loss and a 10% maximum total loss limit. This phase spans 30 calendar days, starting from the day of the first position, and requires a minimum of five trading days to qualify for the next phase.
Phase Two and Advancement
The second phase sets a 5% profit target, with the same loss limits as the first phase. Traders have 60 calendar days to meet this target and are required to trade for at least five days. Successful completion of this phase leads to the award of a funded account.
Funded Account and Profit Split
Upon reaching the funded account stage, traders enjoy more freedom as there are no profit targets. The focus shifts to maintaining the maximum loss rules. The first payout occurs after 14 calendar days of trading, provided the trader has traded for at least five days. If this condition is not met, the first payout is scheduled after 30 days. Subsequent payouts are on a bi-weekly basis, with an attractive 80% profit split for the trader.
Trading Instruments and Scaling Plan
Traders at True Forex Funds have access to a variety of trading instruments including forex pairs, commodities, indices, and cryptocurrencies. Additionally, there is a scaling plan for evaluation challenge accounts. Achieving an 8% profit in a three-month period, with two of these months being profitable, results in a 25% increase in the original account balance.
