- Instant funding with a single-phase evaluation and 4.6/5 Trustpilot rating.
- Supportive team allowing weekend/overnight positions and news trading.
- Zero commission on various assets, no swap charges, and swift payouts.
- 80% profit share, 1:100 leverage, and manage up to 3x $5,760,000.
True Forex Funds
- Trustpilot rating of 4.6/5 with three two-step evaluation programs
- Unlimited evaluation retries; 80% profit share
- Leverage of 1:100; flexible trading style
- Overnight, weekend, and news trading permitted.
Cons ❌
FTUK
- Starting leverage of 1:10
- 2% Max stop loss risk limit
- Lot size consistency rule
True Forex Funds
- High evaluation account prices
- 5% Maximum daily equity-based drawdown
- High commission costs
Rules 📋
FTUK
Lot Size Consistency, Maximum Loss, No Martingale Allowed, Profit Target, Stop Loss Required, Stop Loss Risk Per Position, Third Party Copy Trading Risk
True Forex Funds
Maximum Daily Loss, Maximum Loss, Profit Target, Third Party Copy Trading Risk, Third Party EA Risk
Retail traders looking for quick access to substantial trading capital might find FTUK's single-phase evaluation process a beacon of convenience. It's clear that FTUK aims to streamline the path from evaluation to actual trading with the allure of an attractive 80% profit share. Their stance on trading conditions is equally remarkable; allowing weekend and overnight positions as well as news trading provides traders the flexibility to capitalize on market events as they unfold. With zero commission on trades and no swap fees, the cost-saving benefits are palpable. Moreover, the capability to manage accounts with sizes up to $5,760,000 combined with a leverage of 1:100 positions FTUK as a powerhouse for the ambitious trader.
However, it's not without its caveats. The initial leverage of 1:10 might seem conservative, especially when one considers the competitive landscape of prop trading. This, along with the 2% max stop loss risk limit, indicates a controlled risk environment which some traders may find limiting. Also, the lot size consistency rule may impose additional complexity for traders aiming to adapt their strategies according to market conditions.
FTUK's withdrawal and deposit methods are comprehensive, accommodating both traditional and modern preferences with the inclusion of cryptocurrency transactions. The tradeable instruments cover a solid range of markets, though the lack of crypto assets might be a downside for some. Its account sizes cater to diverse levels of trader experience and capital needs.
True Forex Funds: Tailored to the Persistent Trader
True Forex Funds differentiates itself with a three-phase evaluation program, emphasizing dedication to continuous learning and improvement. The incentive of unlimited evaluation retries stands out as a testament to the firm's commitment to trader development. The flexibility in trading style, supplemented by the permission for overnight, weekend, and news trading, indicates an understanding of diverse trading methodologies.
However, the entry cost with high evaluation account prices can be a barrier for newcomers or those with constrained budgets. This could deter potential talent from joining the ranks of True Forex Funds. Additionally, traders should be wary of the 5% maximum daily equity-based drawdown, which enforces strict risk management disciplines day-to-day. The high commission costs can also eat into profits, an essential factor for all traders to consider.
With a Trustpilot rating that matches FTUK, True Forex Funds presents reliability in service. Deposit and withdrawal methods echo the inclusivity seen with FTUK, providing ease of transaction. The availability of trading crypto assets may be a significant draw for modern traders looking to diversify. The ability to hold accounts in multiple major currencies (EUR, GBP, USD) also showcases the firm's international approach.
Comparative Overview
Both FTUK and True Forex Funds hold their ground as competitive prop firms with their core features attracting different trader profiles. While FTUK favors those keen on jumping straight into funded trading, True Forex Funds seem tailored towards the meticulous, risk-aware trader. In terms of accessibility, both firms share similar deposit and withdrawal methods and account currencies.
The profit share of 80% and leverage of 1:100 puts both on an even playing field, but the differences in evaluation processes, and risk management rules like the maximum stop loss and maximum daily drawdown, are where traders will need to weigh their personal preferences.
Operational since late 2021, these firms are relatively new entrants to the scene of proprietary trading and yet have quickly risen in stature, as indicated by their high Trustpilot scores. However, it's crucial for potential users to analyze beyond ratings and understand the underlying trading conditions and cost structures.
FTUK's no swap charges and zero commission on trades contrast with True Forex Funds' high commission costs, potentially influencing long-term earning potential. Conversely, True Forex Funds offers a greater instrument variety with the inclusion of cryptocurrencies.
Final Thoughts
In conclusion, both FTUK and True Forex Funds offer distinctive advantages that cater to differing trader needs and risk appetites. The evaluation process, trading conditions, and cost of trading are primary differentiators that should guide a trader's choice of prop firm. As the trading landscape continues to evolve, such comparisons become integral to selecting a prop firm that aligns with one's trading philosophy and goals. It's not solely about the opportunity presented but the compatibility of the firm's rules and structures with the trader's strategies and risk management techniques.
