This article provides a detailed comparison between True Forex Funds and FundedNext, focusing on their services and offerings for forex traders around the world.
Overview of the Companies
True Forex Funds, established in October 2021 under the leadership of CEO Richard Nagy, operates from Győr, Hungary. In contrast, FundedNext, led by CEO Abdullah Jayed since March 2022, has its headquarters in the United Arab Emirates and Bangladesh. True Forex Funds offers a maximum allocation capital of $400,000, while FundedNext provides up to $300,000, with both firms featuring scaling plans for traders.
Funding Program Options
Both True Forex Funds and FundedNext cater to a global audience with diverse funding programs. True Forex Funds offers three two-step evaluations and a one-step evaluation, whereas FundedNext presents two one-step and two two-step evaluations, showcasing a variety of pathways to funding for traders.
Two-Step Evaluation Comparison
Exploring the two-step evaluation programs, we observe several key differences:
- Profit Targets: Both firms set specific profit targets for Phase 1 and Phase 2, with variations in their respective programs.
- Drawdown Limits: Daily and overall drawdown limits are set by both firms, offering a balance of risk and opportunity for traders.
- Leverage: A consistent leverage of 1:100 is offered across most programs, catering to different trading strategies.
- Minimum Trading Days: A requirement of 5 calendar days is common, with some programs offering unlimited trading periods.
- Profit Split: Profit splits start at 80%, with FundedNext offering up to 90% in certain programs.
Pricing Across Different Account Sizes
True Forex Funds and FundedNext differ in their pricing for various account sizes:
- Account sizes range from $6,000 to $200,000, with each firm offering competitive pricing options to cater to various trader preferences.
Brokers & Trading Platforms
Both firms collaborate with top-tier liquidity providers and offer MetaTrader 4 and 5 platforms, ensuring optimal trading conditions for their clients.
Trading Instruments Offered
A comparison of trading instruments reveals that both firms support Forex pairs, commodities, and indices trading. However, True Forex Funds also offers stocks and cryptocurrencies, providing a wider range of options for traders.
Community Feedback and Reputation
Trustpilot ratings for both firms stand at 4.7/5, with FundedNext having a higher number of reviews, indicating its broader appeal in the trading community.
Conclusion
In conclusion, True Forex Funds and FundedNext are both excellent choices for traders seeking proprietary trading firms. They differ in aspects like trading rules, pricing, available instruments, and funding program options, with FundedNext offering a slightly broader range of evaluation programs.
