In-depth True Forex Funds Review
The complex world of forex trading becomes more approachable when traders have reliable information. Understanding this, the Traders Union has revealed a comprehensive True Forex Fund review.
This True Forex Fund review aims to enlighten traders about the significant aspects of the True Forex Fund prop trading firm and the unique advantages it brings to its partners. The critical evaluation presented in this review seeks to empower traders to make informed decisions in their trading journey.
A deeper look into True Forex Funds
According to the Traders Union experts, True Forex Funds is a proprietary trading firm that enables partners to trade in the currency market. It provides balances ranging from $10,000 to $200,000 in USD, EUR, or GBP. Remarkably, the balance can further be escalated to $400,000. The firm’s challenge comprises two phases with 8% and 5% profit targets. With no constraints on trading strategies or days post-challenge completion, traders can keep an 80/20 profit split in their favor. Initial fees are applicable but are fully reimbursed upon passing the challenge. To add to its transparency, the firm offers regular payout updates, and partners can trade on MT4, MT5, or cTrader.
Advantages and disadvantages of True Forex Funds
As per Traders Union experts, True Forex Funds comes with advantages and disadvantages:
- Five Unique Plans: True Forex Funds offers five distinct plans to suit different trading needs. These plans vary in initial fee, balance, and acceptable drawdown, giving traders the flexibility to choose a plan that best aligns with their trading style and risk tolerance.
- Currency Choice: The firm allows traders to select their preferred account currency from USD, EUR, or GBP. This currency flexibility caters to the global trading community, allowing them to trade in the currency they are most comfortable with.
- Fee Reimbursement: True Forex Funds stands out for its fee reimbursement feature. Once a trader successfully completes the challenge, the initial fee they paid is fully reimbursed, reducing the financial risk involved in starting the trading journey.
- Free Re-attempt: If a trader exceeds the time limit or drawdown limit during the challenge, they are allowed a free re-attempt. This forgiving policy offers traders a safety net and a second chance to refine their strategies and succeed.
- Competitive Spreads: The firm offers lower spreads than if traders were to trade directly with a broker. These competitive spreads can significantly enhance profitability over time.
- Restricted to currency pairs as the trading instrument.
- Limited to three trading platforms.
- Absence of a call center, support is accessible only via website tickets, live chat, or email.
Unraveling the withdrawal process and fees
Post-challenge completion, clients trade on a real account and secure 80% of their net profit. Referral payouts from the affiliate program are transferred directly to the user’s account. Withdrawal requests are processed swiftly, and payouts are available weekly through primary channels, including bank cards and cryptocurrency wallets. Once approved, withdrawals typically take around 24 hours to reflect in your account.
Exploring the True Forex Funds user account
According to Traders Union experts, the user account dashboard of True Forex Funds displays challenge progress and account balance. The ‘My Orders’ section lists all paid fees and reimbursements. The account settings allow for personal and corporate information changes and account consolidation. The downloads store includes files for trading platforms installation, and the ‘Payouts store records all withdrawal requests. The ‘Certificates’ display personal achievements like completed challenges and payout receipts. The leaderboard showcases the platform’s top-performing partners. The ‘Apps’ section houses the capital curve simulator and the time zone converter. ‘Contact Us’ allows the submission of tickets with requests.
In addition, Traders Union has reviewed the Funded Next prop firm. To read a comprehensive and detailed review, please visit the official website of Traders Union
With its transparency and tailored plans, True Forex Funds offers an attractive platform for aspiring forex traders. Though there are a few areas for improvement, the firm delivers a competitive environment beneficial for novice and experienced traders. We encourage readers to visit Traders Union’s official website for a more detailed look into the opportunities True Forex Funds offers.