True Forex Funds Discount: How to Save Big on Your Trading Fees

True Forex Funds is another new prop firm that became most traders’ favourite after it came to the spotlight in 2021.

Looking to trade forex and save big on trading fees?

True Forex Funds is a prop firm that provides experienced traders with trading capital and a chance of getting cashback discounts.

They offer up to $400,000 in funding for those who can pass their 2-step evaluation process. Plus, there’s a bonus: they cover your trading losses.

Features of True Forex Funds

Bi-weekly Payouts

Access your profits quicker than ever with their bi-weekly payout schedule, ensuring a smoother cash flow compared to other prop firms.

Simplified Trading Rules

Focus on what matters – trading! True Forex Funds avoids complex regulations as they are not a broker, offering clear and concise guidelines.

Transparent Performance Requirements

Maintain a minimum balance of 90% of your initial capital and 95% of your daily balance to stay on track. Avoid excessive losses to ensure program eligibility.

Flexible Second Chances

Didn’t quite hit your profit targets? True Forex Funds offers free retries for qualifying traders who adhere to risk management protocols. All you have to do is avoid violating loss limits.

Trade with Freedom

True Forex Funds empowers traders with a flexible trading environment.

They focus on preventing manipulative strategies (opening opposite positions in separate accounts), and account abuse, allowing genuine traders to thrive.

While scalping (tick scalping) and certain automated trading strategies are restricted, True Forex Funds prioritizes fair and strategic trading practices.

Low Profit Targets

Evaluation requires only an 8% profit to move to Phase 2, and then a 5% profit to become a funded trader.

Compatibility with Trading Platforms

True Forex Funds is compatible with MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

However, their website had previously given the chance to sign up for a waiting list to join cTrader.

Funding Options

TFF has option for payment of opening your account in three main currencies: dollars, euros, or British pounds.

24-hour Support

Trader support is available 24 hours a day, Monday through Friday.

Transparency

TFF reveals real-time details of monthly payout statistics on their website.

News Trading Allowed

No restrictions on trading around news releases.

Opportunity to Scale up

TFF increases funding to profitable traders by 25% every 90 days (3 months) up to $2.5 million as long as the trader is able to meet up with the 8% profit target and doesn’t violate any of the trading rules or go beyond the loss limits.

Tradable Assets

TFF provides an opportunity to trade 40 currency pairs, 30 stocks, 28 cryptocurrencies, 13 equity indices, metals, oils, energies, and a variety of CFDs.

Cons

• Time limits: Other prop firms are removing time limits, but TFF still requires you to hit profit targets within 30 days for Phase 1 and within 90 days for Phase 2.
• 80% profit splits: You can find up to 90% splits elsewhere, although usually with a lot more strings attached.
• New prop firm: TFF has only been around since 2021, making them a relative newcomer, albeit one with tons of verified payouts.
• Two-phase evaluation: TFF still requires you to pass two separate evaluations, although the objectives are quite easy.

True Forex Funds Discounts: How to Save Trading Fees

Using a proprietary firm like True Forex Funds, you can save cost of trading and avoid being charged excessive trading fees while trading with ease.

True Forex Funds only charges traders a one-time sign-up fee, which is refundable.

In terms of pricing, TFF is one of the top affordable prop firms, especially for smaller account sizes.

Here is a list of account sizes and their respective prices.

$10,000           €89

$25,000           €189

$50,000           €299

$100,000         €499

$200,000         €998

You can also get cash back discounts when you use special TFF promo codes.

True Forex Funds’ Suspension of Service

True Forex Funds had a few issues with MetaQuote, the maker of MT4 and MT5.

This led to alleged termination of MetaTrader 4 and MetaTrader 5 licenses by MetaQuotes.

True Forex Funds temporarily suspended its entire operations in February 2024. They had hopped back to business and began running their services.

However, they ran on a steady state until the 13th of May 2024 when True Forex Funds ceased its operations and announced that it would be closing permanently because of financial insolvency.

True Forex Funds had shut down abruptly, and unfortunately, their loyal clients had not anticipated the shutdown since they had resumed operation after the MetaQuotes issue.

The sudden True Forex Funds shutdown led to significant disappointment and frustration among its traders, particularly those who were expecting payouts and had funded their accounts.

Audacity Capital, as a fellow prop firm, felt concerned for frustration caused by the sudden TFF shutdown.

They offered True Forex Fund traders a chance to gain from their loss.

With sustainability and a seamless trading experience as their main interest, they offered a 15% discount on all ability challenges to ex-TFF traders on their platform.

To gain access to the discount, traders had to simply input the discount code ‘TFF’ when applying for the ability challenge. Sadly, it lasted only for a short period as the offer was valid until 21st May.

Conclusion

True Forex Funds was a reliable firm which traders used to save big on trading fees.

Their affordable fees, scalability feature, and cashbacks through discount codes were features traders enjoyed.

Their rather unfortunate shutdown has caused heartbreak to the large population of traders that vested their trust in them.

However, there are a bunch of other proprietary firms out there on which traders could leverage on to make profits and save trading fees.

Check out our review of the best prop firms in 2024.