Funded Trading Plus vs True Forex Funds

Overview of Funded Trading Plus

Funded Trading Plus stands out with an impressive array of funding programs, offering traders up to $2,500,000 in capital, which is notably substantial for aspirant traders aiming to scale their strategies. Another significant advantage is its exceptional user satisfaction as evidenced by a stellar 4.9 Trustpilot rating, indicating reliable and trusted operations. The generous 90% profit split is especially appealing, potentially maximizing traders' earnings. Additionally, their commitment to trader support and the inclusion of a scaling option speaks to their dedication to trader growth and development.

Trading Conditions and Tools

Traders have access to a broad spectrum of trading tools and can engage in forex, commodities, indices, and cryptocurrencies markets, ensuring a diversified trading experience. The absence of trading day restrictions and permission for overnight and news trading offer flexibility, making the firm accommodating for various trading strategies.

Understanding True Forex Funds

True Forex Funds is notable for its Trustpilot rating of 4.6/5 and its three-tiered two-step evaluation programs, which, although less varied than Funded Trading Plus, still provides a solid foundation for traders. A standout feature is the allowance of unlimited evaluation retries, coupled with a reasonable 80% profit share. The leverage offered stands at 1:100, providing substantial potential for profit (and risk) amplification. Furthermore, True Forex Funds accommodates flexible trading styles and similarly permits overnight, weekend, and news trading.

Costs and Drawbacks

While True Forex Funds has robust offerings, there are some drawbacks such as higher evaluation account prices and a stringent 5% maximum daily drawdown based on equity. The high commission costs may also deter traders who are sensitive to transactional expenses.

Regulatory Compliance and Restrictions

Both firms impose essential risk management rules such as Maximum Daily Loss and Maximum Trailing Drawdown for Funded Trading Plus, and Maximum Daily Loss and Maximum Loss for True Forex Funds, alongside Profit Targets. These rules are critical for maintaining sustainability but may restrict trading aggression. Notably, both prohibit weekend holding and third-party copying or EA risks, laying clear boundaries for trading conduct.

Financial Transactions

Deposit and withdrawal methods offered by both firms are quite accommodating, as they accept credit/debit cards and cryptocurrency. Funded Trading Plus withdrawals can be processed through crypto and Deel, while True Forex Funds also supports traditional bank wire transfers. These options provide convenience and cater to different trader preferences.

Account Options and Scalability

Both firms offer a range of account sizes to suit various levels of trader experience and capital requirements. However, Funded Trading Plus offers specific USD-denominated accounts, whereas True Forex Funds offers flexibility with accounts denominated in EUR, GBP, and USD. This can be beneficial for traders looking to manage currency risk.

Trading Instruments and Account Currencies

The tradeable instruments available with both firms are comprehensive, allowing for a wide scope of market engagement. The selection of commodities, crypto, forex, indices, and metals meet the needs of diversified trading strategies. Account currencies, however, demonstrate a point of difference; Funded Trading Plus operates solely with USD, which may limit currency strategy options, while True Forex Funds provides more choice with EUR, GBP, and USD account currencies.

Corporate Background and Stability

Both firms are relatively new to the scene with Funded Trading Plus incorporated in November 2021, and True Forex Funds starting a month earlier in October 2021. Their recent establishment suggests modern and possibly more innovative approaches to prop trading, but may leave lingering questions about long-term stability and track records. In conclusion, each firm offers unique advantages that cater to a variety of trading styles and preferences. Funded Trading Plus excels with higher profit splits and capital availability, while True Forex Funds offers leverage and flexible trading options at the cost of higher expenses. Traders must consider what factors are most critical to their operations when deciding which firm aligns best with their trading aspirations and risk tolerance.