Blue Guardian vs True Forex Funds

Comparison Overview

When choosing a prop trading firm, traders should consider various factors like account growth potential, profit share, trading conditions, and supported instruments. Blue Guardian and True Forex Funds are two notable players with their unique offerings. Retail traders eagerly seeking a reliable prop firm need to weigh the advantages and drawbacks to find the best fit for their trading strategies and goals.

Blue Guardian Pros and Cons

Blue Guardian presents an attractive ceiling for traders with a standard account cap of $400k, escalable to a significant $2M, which is compelling for those with aggressive growth targets. Their high Trustpilot rating of 4.8/5 confirms a strong community trust, while the generous 85% profit share gives traders a substantial cut of the profits. The added flexibility of supporting various holding periods and the inclusion of a wide range of trading instruments cater to diverse trading preferences. However, the mandatory 5 trading days could be a hindrance for those looking for rapid trading cycles, and the absence of a free trial can deter traders who prefer testing the waters before committing financially.

True Forex Funds Pros and Cons

True Forex Funds also stands out with a commendable Trustpilot rating of 4.6/5 and their limitless evaluation retries policy, providing traders a safety net when pursuing their profit targets. The firm maintains a standard 80% profit share and permits a variety of trading styles, which is beneficial for traders who practice a flexible approach. On the downside, higher evaluation account prices could be a barrier for entry-level traders. The 5% maximum daily equity-based drawdown adds to the list of considerations for risk management, and high commission costs may erode profitability.

Comparative Trading Rules

Both firms implement standard trading rules like maximum daily losses and profit targets to mitigate risk, ensuring that trades adhere to a disciplined framework. However, specific details about these rules can significantly affect a trader's ability to achieve goals effectively within the firms' structures.

Account and Financial Management

Both firms accept credit/debit cards and crypto for deposits, demonstrating adaptability to both traditional and modern payment preferences. Interestingly, withdrawal methods are also aligned, offering bank wire transfer, crypto, and Deel—a modern payment platform designed for international transactions. Blue Guardian's account sizes are presented in fixed USD values, while True Forex Funds provides the flexibility to have account sizes in EUR, GBP, or USD, which may appeal to traders based in different regions.

Trading Instruments and Account Currencies

Diverse trading instruments are available with both prop firms, spanning commodities, crypto, forex, indices, and metals, offering traders ample opportunity for diversification. Here, Blue Guardian restricts the account currencies to USD, which may appeal to those wanting to avoid currency conversion fees. In contrast, True Forex Funds' allowance for multiple account currencies adds flexibility but may lead to additional considerations regarding currency exchange volatility.

Company Maturity and Market Presence

An often-overlooked aspect is the incorporation date of the firms. Blue Guardian has been incorporated since June 2019, providing it with a longer track record and potentially more stability in their operations. True Forex Funds, incorporated in October 2021, is relatively newer, which may necessitate further investigation into its growth and stability over time.

Conclusion

Both Blue Guardian and True Forex Funds present compelling offers for retail traders looking to partner with a prop trading firm. Ultimately, the choice between them should be aligned with individual trading styles, risk tolerance, and growth ambitions. Blue Guardian may be more suited for those seeking higher profits shares and scaling opportunities, while True Forex Funds could appeal to traders prioritizing flexibility and unlimited evaluation retries. The decision requires a nuanced understanding of each firm's offerings and should be made in the context of the trader’s unique goals and preferences.