trueforexfunds.com – Funding Forex Traders (2024)

FAQs

Is True forex Funds legit? ›

Is True Forex Funds Legit and Safe? True Forex Funds, founded in 2021, belongs to the newer prop trading firms, but that does not mean they are out to defraud traders. On the contrary, they have amassed a 4.7 out of 5.0 rating on Trustpilot based on 2,237 reviews.

True Forex Funds Has Permanently Shut Down Due to Financial Insolvency. Prop trading firm “True Forex Funds” had ceased all operations as of May 13. It really seems like there's a new prop firm shutting down every other week! From the outside it looks like complete chaos.

Are funded trading accounts legit? No funded trader accounts are not real accounts. They are demo accounts where you are not trading on legit markets. You are trading on fake prices that closely mirror the underlying market.

Take a look at footer of your broker's website. The broker's registration number and governing regulatory body should be clearly displayed. You should then visit the regulator's website to verify the status of your broker's license. Check out this video where I walk through how to verify a broker's regulatory license.

True Forex Funds (TFF) Withdrawal Method- Advcash

The firm guarantees that clients will receive their payouts within 24 hours. It is also important to note that the delivery time for bank transfers does not depend on TFF. Delays may occur due to incorrect bank transfer details or accounts that cannot accept dollars.

Financially secure and regulated

FOREX.com is a wholly-owned subsidiary of StoneX, a NASDAQ-listed company with assets of over $7.2 billion that provides institutional-grade financial services networks to connect people to the global markets. We are also fully regulated by the NFA and the CFTC.

On average, day traders with $10,000 accounts can make $200-$600 per day, with skilled traders aiming for 2%-5% returns daily. So, it is possible to achieve a daily profit of $200 to $600 with a $10,000 account.

On average, a forex trader can make anywhere between $500 to $2,000 per day. However, this figure can vary significantly depending on market conditions, trading strategy, and risk management techniques. Some traders may make more than $2,000 in a single day, while others may make less or even incur losses.

True Forex Fund Abrupt Closure

The proprietary firm also began accepting US clients again in April. Everything seemed under control until the 13th of May, 2024.

On a funded account, losing a large amount of money does not mean much. Even if it results in losing your funded account, you can still try to pass the evaluation at the same firm again or just join another one. Ultimately, you do not risk much and do not lose much.

How long does it take to get payout from the funded trader? ›

Payout Process Overview

Standard, Rapid, Royal, Knight, & Dragon Challenges: 3 to 5 business days from request. King's Program: 2 business days from request.

Funded trading programs typically operate on a profit-sharing basis. Funded traders get to keep a percentage of the profits they make with the funded accounts. The amount varies with each prop firm.

Is forex trading legal in the United States? Yes, forex trading is legal in the U.S. and regulated by the Commodity Futures Trading Commission (CFTC). Forex brokers in the U.S. are required to register as Futures Commission Merchants (FCMs) and Forex Dealer Members (FDMs) with the CFTC and NFA.

Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader. But for the average retail trader, rather than being an easy road to riches, forex trading can be a rocky highway to enormous losses and potential penury.

True Forex Funds is a prop firm located in Hungary.

True Forex Funds does not use common broker brands for its trading. Instead, they partner with a tier-1 liquidity provider that provides institutional data feeds and direct market access execution on their corporate accounts. As for trading platforms, traders can choose from MetaTrader 4 and MetaTrader 5.

Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader. But for the average retail trader, rather than being an easy road to riches, forex trading can be a rocky highway to enormous losses and potential penury.