This comprehensive article compares True Forex Funds and Funded Trading Plus, two well-regarded proprietary trading firms, focusing on their offerings for forex traders worldwide.
Company Backgrounds
True Forex Funds, established in October 2021 by CEO Richard Nagy, operates from Győr, Hungary. In comparison, Funded Trading Plus, led by CEO Simon Massey since November 2021, is based in London, UK. Both firms provide significant capital allocation for traders, with True Forex Funds offering up to $400,000, and Funded Trading Plus allowing traders to manage up to 2x $200,000, along with scaling plans.
Funding Program Diversity
True Forex Funds and Funded Trading Plus extend various funding programs to a global audience. True Forex Funds offers three two-step evaluations and a one-step evaluation, while Funded Trading Plus provides a one-step evaluation, two two-step evaluations, and an instant funding option, showcasing their commitment to accommodating different trader needs.
Comparing Two-Step Evaluation Programs
Examining the two-step evaluation programs, key distinctions emerge:
- Profit Targets: Both firms set specific phase 1 and 2 profit targets, with variations in their advanced and premium programs.
- Drawdown Limits: Drawdown policies differ, with True Forex Funds maintaining consistent limits and Funded Trading Plus offering trailing options.
- Leverage: Leverage options vary, with True Forex Funds typically offering higher leverage compared to Funded Trading Plus.
- Trading Periods: Both firms allow flexibility in trading periods, with specific minimum day requirements in some programs.
- Profit Splits: Profit split percentages are competitive, with potential increases up to 90% in certain programs.
Account Size and Pricing Comparison
The firms differ in their pricing strategies for various account sizes:
- Ranging from $10,000 to $200,000, each firm caters to diverse trader preferences in terms of account size and associated fees.
Brokers & Trading Platforms
Both firms partner with top-tier liquidity providers to ensure optimal trading environments. While True Forex Funds offers MetaTrader 4 and 5, Funded Trading Plus utilizes Eightcap as its primary broker.
Trading Instrument Selection
The availability of trading instruments such as Forex pairs, commodities, indices, and cryptocurrencies is crucial, with True Forex Funds additionally offering stocks.
Community Feedback Insights
Feedback from Trustpilot highlights the firms’ reputations:
- True Forex Funds has a 4.7/5 rating from 2,257 reviews, whereas Funded Trading Plus enjoys a slightly higher 4.9/5 rating from 1,788 reviews, indicating strong community trust.
Conclusion
To conclude, both True Forex Funds and Funded Trading Plus present as viable options for traders seeking proprietary trading firms. They differ in aspects such as trading rules, pricing structures, and funding program options, with Funded Trading Plus notably offering instant funding.
