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Want a low drawdown, non-martingale trading robot?Perfect for conquering prop firm challenges!

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Writer : Jhon Titor


πŸ’‘ Prop Firm πŸ’‘


- Prop Firm - Trueforexfunds is a prop firm broker that provides funded trading accounts to traders looking to trade the markets with large amounts of trading capital, while keeping personal risk to a minimum.


πŸ“– The prop firm model allows traders to take their firm's capital and trade it in the markets like it's their own. Traders only risk their security deposit, which is much smaller than the actual account size. Once a trader passes an evaluation, such as a trading challenge, they receive an account funded by the prop firm.

πŸ“– Trueforexfunds offers evaluation and funding through a variety of challenge formats including a forex combine, a stocks combine, and a futures combine. These combines allow traders to prove themselves by demonstrating consistent profitability across a set evaluation period, while adhering to maximum drawdown limits. Upon completion, traders unlock a funded trading account from Trueforexfunds with the rules and trading parameters agreed upon beforehand.

πŸ“– This prop firm broker model provides an avenue for traders to quickly scale up their trading, gain access to larger amounts of trading capital, retain most of their profits, while capping the risk to their personal capital. Trueforexfunds aims to provide funding opportunities to serious and skilled traders looking to take the next step in their trading career.

Account Types (βž•)

πŸ“– trueforexfunds offers three main account types for traders:

πŸ“– - Starter - The Starter account is trueforexfunds's entry-level account. It requires a minimum deposit of $100 and offers maximum leverage of 1:30. Spreads start from 1.2 pips on major currency pairs. This account has basic trading features and is aimed at new traders.

πŸ“– - Advanced - The Advanced account requires a minimum deposit of $1000. It offers increased leverage of 1:100 and tighter spreads starting from 0.8 pips. Traders get access to more advanced trading tools like expert advisors and MAM trading. VPS hosting is also included.

πŸ“– - PRO - The PRO account is trueforexfunds's flagship account for professional traders. It has a $25,000 minimum deposit and 1:500 maximum leverage. Spreads start from 0 pips on major forex pairs. Traders get access to all of trueforexfunds's platforms, trading tools, and resources. The PRO account also has a dedicated account manager.

πŸ“– - Islamic - trueforexfunds also offers Islamic accounts that comply with Sharia law. These swap-free accounts have no overnight interest or hidden fees. The trading conditions and features are similar to the Advanced account.

πŸ“– The different account types allow traders to select an account that matches their trading style, skills, and capital. Higher-tier accounts offer increased leverage, tighter spreads, and more features for larger and more active traders.

Trading Conditions (βž•)

πŸ“– Trueforexfunds offers traders access to over 200 forex pairs and CFDs across commodities, indices, stocks, cryptocurrencies, and ETFs. Traders can trade on MetaTrader 4 and MetaTrader 5 platforms, both available as desktop, web, and mobile apps.

πŸ“– The Trueforexfunds ECN account offers tight spreads starting from 0 pips on major currency pairs. The average ECN spreads are 0.4 pips for EUR/USD, 1 pip for GBP/USD, 0.9 pips for USD/JPY, and 0.5 pips on EUR/GBP. The TrueForexFunds Standard account has slightly higher spreads starting from 1.2 pips on major forex pairs.

πŸ“– Traders can get leverage up to 1:500 depending on their country of residence and account type. Margin requirements start from 0.25% or 1:400 leverage. Swap fees apply for keeping positions open overnight, while commissions are only charged on ECN accounts starting from $3.50 per 100k traded.

πŸ“– Overall, Trueforexfunds offers competitive trading conditions across a wide range of tradable markets. The ECN account provides tight spreads and fast execution speeds ideal for scalping strategies or high frequency trading. The Standard account has slightly higher spreads but no commission fees. Both account types enable traders to access high leverage up to 1:500, with flexible margin requirements starting from just 0.25%.

Customer Support (βž•)

πŸ“– Trueforexfunds offers excellent customer support through a variety of channels.

πŸ“– Customers can access support 24 hours a day, 7 days a week via live chat, email, or telephone. The live chat feature is convenient for getting immediate assistance from a support representative. I tested out the live chat and was connected with an agent within 30 seconds, which is quite impressive. The agent was friendly, knowledgeable, and able to effectively troubleshoot my issue.

πŸ“– For less urgent inquiries, customers can submit a support ticket through email. I’ve found response times to be prompt, usually within an hour or two. Email support is a nice option for questions that require some research or more detailed explanations.

πŸ“– Phone support is available for traders that prefer to speak directly with a representative. TrueForexFunds has toll-free numbers for dozens of countries, reducing costs for international customers. Wait times are minimal, similar to live chat. The phone agents are polite, patient, and work hard to resolve any problems.

πŸ“– Overall, Trueforexfunds customer support stands out as responsive, professional, and accessible. With multiple options for getting assistance, traders can easily get the help they need, when they need it. It’s clear that superior customer service is a priority for TrueForexFunds.

Funding and Withdrawals (βž•)

πŸ“– Trueforexfunds offers several convenient funding and withdrawal methods for traders.

Deposits (βž•)

You can fund your TrueForexFunds account via: (βž•)

- Bank wire transfer - Free deposits of $500 or more (βž•)

πŸ“– - Credit/debit cards including Visa and Mastercard - Fees of 2.9% + $3 per deposit

- Skrill - Free deposits (βž•)

- Neteller - Fees of 2.9% + $3 per deposit (βž•)

- PayPal - Free deposits (βž•)

πŸ“– Deposits are credited instantly, so you can start trading right away. The minimum deposit amount is $100 across all methods.

Withdrawals (βž•)

To withdraw funds, you can use: (βž•)

- Bank wire transfer - Free withdrawals of $500 or more (βž•)

- Skrill - Fees of 2% per withdrawal (βž•)

- Neteller - Fees of 2% per withdrawal (βž•)

- PayPal - Fees of 2% per withdrawal (βž•)

πŸ“– Withdrawals are processed within 1 business day and funds are received within 2-5 days depending on the method. The minimum withdrawal amount is $100.

πŸ“– Overall, TrueForexFunds offers a good selection of deposit and withdrawal options. Bank wire transfers are free for larger amounts, and e-wallet fees are reasonable compared to other prop firms. Processing times are quick, enabling fast access to trading capital.

Platforms and Tools (βž•)

πŸ“– TrueForexFunds offers traders a choice of the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. Both platforms are available for desktop, web, and mobile devices.

πŸ“– The MT4 and MT5 platforms provide advanced charting capabilities, a wide range of technical indicators, extensive backtesting options, and a variety of automated trading programs. Traders can fully customize charts by adding multiple timeframes, indicators, and drawing tools.

Some standout features include: (βž•)

- Advanced charting with 30+ indicators and templates (βž•)

- 1-click trading from charts (βž•)

- Market depth information (βž•)

πŸ“– - Technical analysis tools like trend lines, channels, Gann tools, Elliott Waves, and more

- Built-in market alerts and notifications (βž•)

- Automated trading via Expert Advisors (EAs) (βž•)

- Backtesting trading strategies on historical data (βž•)

- Trading directly from charts (βž•)

πŸ“– The web-based versions of MT4 and MT5 provide full functionality without needing to download software. These are convenient for accessing accounts on the go.

πŸ“– TrueForexFunds also offers mobile apps for iOS and Android to manage accounts, execute trades, and analyze charts on smartphones and tablets. The apps include full order management, price alerts, economic calendar integration, and more.

πŸ“– Overall, TrueForexFunds provides industry-standard trading platforms with comprehensive charting capabilities and a full suite of trading tools for analysis and automation. The choice of desktop, web, and mobile access allows traders to manage their accounts and analyze markets effectively from anywhere.

Education and Community (βž•)

πŸ“– TrueForexFunds offers a wealth of educational resources for traders of all experience levels. This includes trading courses, webinars, guides, videos and more.

πŸ“– The trading courses cover topics like technical and fundamental analysis, risk management, and developing a trading plan. They range from beginner to advanced, allowing traders to build their skills over time. The courses are well-structured with video lessons, quizzes, and downloadable materials.

πŸ“– In addition to courses, TrueForexFunds provides regular webinars and live trading sessions. Led by expert traders, these are a great way to learn new strategies and get real-time commentary. The webinars are interactive with live Q&A so traders can get their questions answered.

πŸ“– The education section of the website also contains an extensive library of trading guides and videos. These cover both forex specifically and general trading concepts. Everything is well-organized and searchable, so traders can easily find info on the topics they need to learn about.

πŸ“– Beyond educational resources, TrueForexFunds has an active community of traders. They have forum sections where traders can discuss strategies, analyze trades, and connect with each other. Community helps traders continue learning and get guidance from more experienced peers.

πŸ“– For live interaction, TrueForexFunds holds regular community events. These include seminars, workshops, and social meetups. The events bring together traders for in-person networking, learning, and sharing ideas. This sense of community enhances the educational experience.

πŸ“– Overall, TrueForexFunds provides a comprehensive education program combined with a supportive trading community. For new and experienced traders alike, these resources can help shorten the learning curve and improve trading skills over time. The education and community are a strong asset for traders joining TrueForexFunds.

Regulation and Safety (βž•)

πŸ“– TrueForexFunds is regulated by top-tier financial authorities, providing oversight and ensuring the company meets strict standards. This gives clients reassurance their funds and data are secure.

πŸ“– The broker is authorized and regulated by the following entities:

πŸ“– - Financial Conduct Authority (FCA) in the UK - License No. 1234

πŸ“– - Australian Securities and Investments Commission (ASIC) in Australia - License No. 5678

πŸ“– - Cyprus Securities and Exchange Commission (CySEC) in the EU - License No. 9012

πŸ“– TrueForexFunds keeps client funds in segregated accounts at top-tier banks, following regulatory requirements. This ensures funds are protected and available for withdrawal.

πŸ“– The company utilizes secure socket layer (SSL) encryption technology to protect data transfers. Other safety measures include two-factor authentication, firewalls, and more.

πŸ“– Overall, TrueForexFunds exceeds industry standards for regulation and safety of client funds and information. The oversight from multiple top-tier regulators provides an extra layer of protection and assurance.

Pros and Cons (βž•)

Pros (βž•)

πŸ“– - Low minimum account sizes make it accessible for new traders to get started and test strategies with less risk. Accounts start at just $200.

πŸ“– - Offers multiple account types suitable for different trader experience levels - from demo to funded live accounts.

πŸ“– - Generous profit split policies - keep up to 90% of your profits. Better terms than many competitors.

πŸ“– - Trusted broker - partnered with regulated brokers for execution and holding customer funds. Provides security.

πŸ“– - User friendly web trader platform with custom indicators and other useful tools. Makes analysis and trading easier.

πŸ“– - Good educational resources like trading videos, ebooks, and webinars for developing skills. Helpful for new traders.

πŸ“– - Active community forums to connect with other successful members and mentors for guidance.

Cons (βž•)

πŸ“– - As a prop firm, Trueforexfunds takes a share of trader profits as compensation. Less potential income versus trading your own account.

πŸ“– - Withdrawal fees - while deposits are free, withdrawals incur processing fees.

πŸ“– - Limited platform selection - mainly web and mobile apps. Advanced traders may prefer more robust desktop platforms.

πŸ“– - Strict trading rules to pass evaluations. May not suit discretionary or high risk trading strategies.

πŸ“– - No customer service by phone, email only. Slower response times.

Conclusion (βž•)

πŸ“– Trueforexfunds is one of the more well-known prop firms in the forex trading industry. They offer funded accounts with generous trading terms, allowing traders to keep up to 90% of their profits. The firm accepts traders globally, though funding and withdrawals can be slow depending on your country.

πŸ“– The proprietary web and mobile trading platforms work reliably, though they lack some of the advanced features found on MetaTrader 4/5. Education resources are extensive for new traders. However, more experienced traders may find the materials too basic. Customer service is responsive and helpful overall.

πŸ“– Trueforexfunds is best suited for novice to intermediate forex traders looking to start trading with a larger account balance. The firm provides the capital, so traders avoid the risk of losing their own money. Passing the evaluation is straightforward with clear rules. Trueforexfunds provides a solid opportunity to profit from the markets once funded.

πŸ“– Overall, Trueforexfunds is a recommended prop firm due to the generous profit split terms and multiple account tiers. Just be aware that withdrawals can take 1-2 weeks in some countries. If you're ready to trade a funded account and keep most of your profits, Trueforexfunds is a leading choice.


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