FundedFirm vs True Forex Funds: Which Funded Account is Best for Traders?
FundedFirm vs True Forex Funds: Which Funded Account is Best for Traders?
For traders looking to scale their forex trading career without risking personal capital, securing a reliable Funded Account through a proprietary trading firm is a game-changer. FundedFirm and True Forex Funds are both prominent prop firms that have attracted the attention of ambitious traders worldwide. This blog offers a comprehensive, side-by-side comparison of these two firms, highlighting their benefits, evaluation processes, account features, and trading conditions to help you decide which funded account aligns with your goals.
Company Background and Reputation
FundedFirm, established in recent years, quickly gained traction in the forex prop trading community, particularly among Indian traders, due to its efficient onboarding and trader-focused policies. It is praised for its transparent rules, fast evaluation, and flexible payout schedules with up to 100% profit sharing.
True Forex Funds, founded in Hungary, has also garnered a strong following before it ceased operations due to financial insolvency as per recent updates. True Forex Funds was known for its straightforward evaluation and funded account program, low minimum trading day requirements, and a two-phase evaluation process that appealed to consistent traders.
Evaluation and Funding Process
FundedFirm offers a simple and fast evaluation — a one-step challenge designed to help traders get funded swiftly and start trading real capital. The firm requires traders to meet specific profit targets and maintain drawdown limits to qualify for a Funded Account, but the process overall is designed to minimize waiting time.
True Forex Funds featured a two-phase evaluation system. The first phase required traders to achieve 8% profit, and the second phase a further 5%, both with daily drawdown limits of 5% and total drawdown limits of 10%. Unlike many firms, True Forex Funds did not impose minimum trading day requirements.