Reviewed by PropFirm201 Research Team·At a Glance
Pricing & Challenge Types
Standard Challenge
2 phases · 80% profit split · Scaling available
| Account Size | Price | Target P1 | Target P2 | Daily Loss | Max DD |
|---|---|---|---|---|---|
| $10,000 | $99 | 8% | 5% | 5% | 10% |
| $25,000 | $199 | 8% | 5% | 5% | 10% |
| $50,000 | $299 | 8% | 5% | 5% | 10% |
| $100,000 | $499 | 8% | 5% | 5% | 10% |
| $200,000 | $899 | 8% | 5% | 5% | 10% |
Pros & Cons
Pros
- Previously offered no time limits on challenges
- Low profit targets of 8% made challenges accessible
- Fee refund offered with first payout
Cons
- Permanently shut down as of May 2024 due to financial insolvency
- Over 300 unpaid trader payouts estimated at $1.2 million
- Listed on CFTC RED List for soliciting US customers without registration
Trading Rules
About True Forex Funds
True Forex Funds was a proprietary trading firm that ceased all operations permanently on May 13, 2024, due to financial insolvency. The firm had initially built a positive reputation for offering accessible challenge structures with no time limits and relatively low profit targets.
The firm's downfall began in February 2024 when MetaQuotes terminated their trading license, causing a temporary global shutdown that froze client accounts for three months. When operations resumed with a cTrader partnership, the damage proved insurmountable, with more than 300 payouts owed to traders totaling an estimated $1.2 million.
True Forex Funds was also placed on the US CFTC's RED List in June 2023 for soliciting and accepting funds from US customers without proper registration. The firm is no longer operational and there are no indications of revival.
How It Works
True Forex Funds is no longer operational. Previously, the firm offered a 2-step evaluation challenge where traders needed to achieve an 8% profit target in Phase 1 and 5% in Phase 2, with no time limits on either phase.
Pricing & Plans
True Forex Funds is permanently closed. No new challenges can be purchased.
Rules & Restrictions
This firm is no longer operational. All previous rules and trading accounts have been terminated.
Payouts
True Forex Funds ceased processing payouts as of its closure in May 2024. Over 300 payouts remain unpaid.
Is True Forex Funds Legit?
No. True Forex Funds shut down permanently due to financial insolvency, leaving hundreds of traders with unpaid payouts. The firm was also flagged by the CFTC for regulatory violations. Traders should not attempt to engage with this firm in any capacity.
FAQ
Is True Forex Funds still operating?
No. True Forex Funds permanently ceased all operations on May 13, 2024, due to financial insolvency. The website may still be accessible but no services are available.
Will True Forex Funds reopen?
There are no indications that True Forex Funds will resume operations. The firm announced a permanent shutdown.
Can I get my money back from True Forex Funds?
The firm owed over $1.2 million in unpaid payouts at the time of closure. Recovery of funds is unlikely.
Why did True Forex Funds shut down?
The primary cause was the termination of their MetaQuotes trading license in February 2024, which led to a three-month freeze on operations. The financial damage from this disruption was too significant to recover from.
Was True Forex Funds a scam?
While the firm operated legitimately for a period, its regulatory issues with the CFTC and failure to pay traders upon closure have led many to view it unfavorably. The firm's financial insolvency resulted in significant losses for traders.