This article presents an in-depth comparison between True Forex Funds and The Funded Trader, two prominent players in the proprietary trading firm landscape. We aim to dissect their offerings, focusing on what they bring to forex traders globally.
Company Profiles
Established in October 2021, True Forex Funds, led by CEO Richard Nagy, is headquartered in Győr, Hungary. In contrast, The Funded Trader started its journey in May 2021 under the guidance of CEO Angelo Ciaramello, based in Liberty Hill, Texas. Both firms offer substantial capital allocations to traders, with True Forex Funds providing up to $400,000, while The Funded Trader extends up to $600,000, alongside their respective scaling plans.
Funding Program Varieties
Both True Forex Funds and The Funded Trader cater to global forex traders with a variety of funding programs. True Forex Funds features three two-step evaluations along with a one-step option. Similarly, The Funded Trader offers a one-step evaluation and three two-step programs, demonstrating their commitment to trader flexibility.
Detailed Two-Step Evaluation Comparison
When comparing the two-step evaluation programs, several key areas emerge:
- Profit Targets: Both firms set phase 1 and 2 profit targets, with The Funded Trader offering additional options in their Rapid and Royal programs.
- Drawdown Limits: True Forex Funds maintains a consistent drawdown policy, while The Funded Trader provides variations based on the program chosen.
- Leverage: A range of leverage options is available, varying from 1:30 to 1:200 depending on the program and firm.
- Trading Periods: Both firms offer flexibility in trading periods, with True Forex Funds setting a minimum of 5 calendar days for certain programs.
- Profit Splits: While both start at an 80% split, The Funded Trader offers up to 90% in certain programs.
Price Comparison for Various Account Sizes
True Forex Funds and The Funded Trader showcase diverse pricing across different account sizes:
- From $5,000 to $400,000, each firm’s pricing strategy caters to a range of trader needs and preferences.
Brokers & Trading Platforms
Both firms partner with leading liquidity providers to ensure optimal trading conditions. True Forex Funds offers MetaTrader 4 and 5, while The Funded Trader expands its platform offerings to include brokers like Eightcap and Purple Trading Seychelles.
Trading Instrument Availability
Key trading instruments such as Forex pairs, commodities, indices, and cryptocurrencies are available with both firms, though The Funded Trader does not offer stock trading.
Community Feedback and Trust
Feedback from Trustpilot reveals significant insights:
- True Forex Funds enjoys a 4.7/5 rating from 2,257 reviews, while The Funded Trader holds a 4.5/5 rating from 13,361 reviews, indicating a broader user base.
Conclusion
In summary, True Forex Funds and The Funded Trader both present robust options for traders seeking proprietary trading firms. Key distinctions in trading rules, pricing, and community feedback, along with their unique funding program options, provide valuable considerations for traders making their choice.
