FTMO vs True Forex Funds - Which Broker is Better? (2024)

  • Comparison
  • FTMO Vs True Forex Funds

FTMO and True Forex Funds are two proprietary Forex trading firms, but which one is the better choice for Forex prop traders?

We have conducted an in-depth review of FTMO and True Forex Funds to determine which presents the most competitive conditions and best profit share with its Forex prop traders.

Here is a snapshot of the most notable advantages of FTMO:

  • A two-step evaluation with a profit target of 10%
  • A minimum of four trading days to achieve the profit target, with a minimum of one trade per day
  • No weekend positions or news trading in the FTMO account (available in the FTMO Account Swing)
  • A refundable evaluation fee
  • A scaling plan that increases the account size by 25% every four months
  • Two $200,000 accounts per trader

Here is a snapshot of the most notable advantages of True Forex Funds:

  • One-step or two-step evaluation, with a profit target of 10% and 8%/5%
  • No minimum or maximum trading requirements
  • Algorithmic trading and high frequency trading (HFT) strategies allowed
  • A refundable evaluation fee
  • An average time for withdrawals to arrive of less than 24 hours
  • Features and Platforms
  • Available Markets
  • Typical Spreads and Fees
  • Security and Trust
  • FTMO vs True Forex Funds - Verdict

Headquarters

HungaryCzech Republic

Year Established

20212014

Trading Platform(s)

MetaTrader 4, MetaTrader 5MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform

Minimum Evaluation Fee

€89N/A

Daily Loss Limit

5%N/A

Maximum Trailing Drawdown

10%N/A

Funded Account Options

5N/A

Minimum Funded Account

$10,000N/A

Maximum Funded Account

$200,000N/A
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Features & Platforms

MT4

MT5

cTrader

Proprietary Platform

Automated Trading

N/A

Scalping

N/A
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Available Markets

Forex prop traders at FXTM can trade:

  • 42 currency pairs, including exotics and emerging markets
  • 8 metals and four futures contracts
  • 14 cash indices and commodities
  • 10 cryptocurrencies
  • 23 blue-chip equities listed in the US and the Eurozone

Forex prop traders at True Forex Funds can trade:

  • 40 currency pairs, including exotics and emerging markets
  • 6 commodities
  • 13 indices
  • 30 blue-chip equity CFDs
  • 28 cryptocurrencies CFDs

Evaluation Fees and Profit-share

Typical Spreads & Fees

FTMO

True Forex Funds

Minimum Evaluation Fee

€155

€89

Maximum Evaluation Fee

€1,080

€998

Profit-share

80% to 90%

80%

Both prop trading firms offer identical minimum prop trading account sizes, but which is cheaper?

True Forex Funds has cheaper evaluation fees, but FTMO offers a free trial. Both companies refund the evaluation fee to all traders who pass the evaluation process and become prop traders.

The minimum evaluation fee at FTMO for a $10,000 account is:

Type of fee

Fee (without discounts)

One-time evaluation fee for a $10,000 funded account (the smallest one)

€155

Hold-over-the-weekend

€0

Double leverage

Not applicable

Stop-loss not required at trade entry

Not applicable

Total one-time fees for a $10,000 MT4 account

€155

The minimum evaluation fee at True Forex Funds for a $10,000 account is:

Type of fee

Fee (without discounts)

One-time evaluation fee for a $10,000 funded account (the smallest one)

€89

Hold-over-the-weekend

Not applicable

Double leverage

Not applicable

Stop-loss not required at trade entry

Not applicable

Total one-time fees for a $10,000 MT4 account

€89

Minimum Evaluation Fee

€89N/A

Maximum Evaluation Fee

€998N/A

Profit-share

80%N/A
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Prop Trading Accounts

Account Types

FTMO

True Forex Funds

Scaling Plan

Yes

Yes

Free trial

Yes

No

Refundable evaluation fee

Yes

Yes

The evaluation fee depends on the desired account balance, and traders cannot change it once the evaluation begins.

What Stands Out about FTMO Prop Trading Accounts?

  • Two distinct account types, FTMO and FTMO Account Swing
  • Six funding options (five displayed on the website and one that requires special permission)
  • Scaling plan up to $2,000,000 per trader

What Stands Out about Prop Trading Accounts at True Forex Funds?

  • Five account types
  • One-phase or two-phase verification
  • Quick funding, which eliminates the 5-day minimum trading day requirements
  • Timeless funding, eliminating the 60-day maximum trading days to achieve profit targets
  • Scaling plan up to $2,500,000 per trader

Trading Rules

Violating the trading rules results in account closure, but traders can start again by paying the evaluation fee. FTMO may grant a 14-day extension or a free retrial. In contrast, prop traders at True Forex Funds with time-limited accounts, who do not violate the trading rules, get unlimited free retrials

The trading rules for the FTMO Challenge are:

  • 5% daily loss limit (normal risk), 10% daily loss limit (aggressive)
  • 10% trailing drawdown limit (normal risk), 20% trailing drawdown limit (aggressive)
  • A minimum of one trade over four days within a period of 30 days

The trading rules for the True Forex Funds Challenge are:

  • 5% daily loss limit (two-step verification)
  • 3% daily loss limit (one-step verification)
  • 10% maximum overall loss (two-step verification)
  • 6% maximum overall loss (one-step verification)
  • One-phase verification with a minimum of five trading days of trading within a 30 day period

Noteworthy:

  • FTMO and True Forex Funds will never grant access to live trading accounts
  • At FTMO, accepted prop traders will manage demo accounts, and the proprietary software at each prop trading firm duplicates them in live trading accounts

How to Pay the Evaluation Fee?

Paying the evaluation fee begins the process of becoming a prop trader at FTMO and True Forex Funds.

How Difficult Is It to Deposit at FTMO and True Forex Funds?

Both prop trading firms make it easy and offer cryptocurrencies as a deposit and withdrawal option. Credit/debit cards are available at both, and FTMO also accepts Skrill.

FTMO deposit snapshot:

  • Payment Methods: FTMO supports bank wires, debit/credit cards, Skrill, and cryptocurrencies
  • Accepted Countries: FTMO claims traders from 180+ countries and does not list restrictions

True Forex Funds deposit snapshot:

  • Payment Methods: True Forex Funds supports credit/debit cards and cryptocurrencies
  • Accepted Countries: True Forex Funds claims traders from 110+ countries and does not list restrictions. It also notes that traders resident in restricted countries per AML sanctions, like Iran, Syria, and North Korea, are welcome but face due diligence.

What about Withdrawals?

The average withdrawal processing time at FTMO is 8 hours. True Forex Funds notes the average time for traders to receive withdrawals is less than 24 hours. Therefore, both Forex prop trading firms offer a fast withdrawal procedure.

Security & Trust

Trading with a Forex prop firm, which is an unregulated business, requires traders to ensure that a trusted brokerage handles all accounts, and that the Forex prop firm maintains an excellent reputation among its traders.

FTMO

FTMO is a Czech-based company with an excellent reputation. It was the Technology Fast 50 Winner by Deloitte from 2019 through 2022, and it has a 4.9 out of 5.0 rating on Trustpilot based on 5,004 reviews.

It operates several subsidiaries for compliance purposes. FTMO Evaluation Global s.r.o. handles all non-US prop applications, and FTMO Evaluation US s.r.o. caters to US-based traders. FTMO s.r.o. owns and operates the website.

True Forex Funds

True Forex Funds, founded in 2021, belongs to the newer prop trading firms, but that does not mean they are out to defraud traders. On the contrary, they have amassed a 4.7 out of 5.0 rating on Trustpilot based on 2,237 reviews.

TFF International Kft., registration number 08-09-034894m, located at 9022 Győr Móricz Zsigmond rkp. 1/B. fszt. 14 in Hungary owns and operates True Forex Funds. Richard Nagy is the Chairman and CEO of the company, but I would like more transparency about the core management team.

Which Forex Prop Trading Firm Is More Secure and Trustworthy?

My review did not uncover any negatives about FTMO or True Forex Funds, but I would appreciate it if they disclosed their brokers and liquidity providers. FTMO has significantly more operational experience, while True Forex Funds is currently undergoing a dispute with MT4 provider MetaQuotes. Therefore, I rate FTMO as the more secure and trustworthy

Broker versus Broker Verdict

FTMO

Pros

Cons

MT4, MT5, cTrader, and DX Trade platforms with generous leverage

No information about which broker or brokers FTMO uses

Customizable two-step evaluation period with free retrials where applicable

80% to 90% profit share with a fast withdrawal process

Reasonable profit targets and generous maximum loss levels

True Forex Funds

Pros

Cons

80% profit share with average payout arrival in less than 24 hours

Limited details about ownership or management

MT4 and MT5 trading platforms with algorithmic trading permitted

No profit share during the evaluation period

Five funded accounts in three base currencies

One-phase funding challenge without time limits

Which Prop Trading Firm Is Better?

FTMO and True Forex Funds offer prop traders quality choices.

Here is our verdict:

FTMO takes the lead despite a higher evaluation fee and a lower scaling ceiling, as it shines with regard to operational excellence and longevity.

Read full FTMO Review

Read full True Forex Funds Review

FAQs

How long does it take to withdraw from FTMO and True Forex Funds?

FTMO processes withdrawals within eight hours on average, while the average time for withdrawals to reach traders at True Forex Funds is less than 24 hours.

What are the success rates of the evaluation challenges at FTMO and True Forex Funds?

Over 90% of traders fail the challenges, as most participants who try to achieve the profit target in the given time are retail traders. They lack the experience to manage prop trading accounts and have no business operating in this sector. Regrettably, FTMO and True Forex Funds actively cater to retail traders.

Where are FTMO and True Forex Funds based?

FTMO is from the Czech Republic, and True Forex Funds is from Hungary.

Is FTMO or True Forex Funds more trustworthy?

FTMO has a well-established track record, while True Forex Funds is relatively new and already in trouble with MT4 provider MetaQuotes, making FTMO the more trustworthy prop trading firm.

FTMO vs True Forex Funds - Which Broker is Better? (2024)

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