Overview of FORFX Prop Firm

TheTrustedProp

Date: September 16, 2024

FORFX, A fairly new prop firm that has made quite an impact on the whole prop firm space. ForFX started in January 2024 as a revolutionizing firm which provided both demo and live trading challenges and funded accounts. FORFX is based in Dubai and offers traders a max capital of $400,000 in funding which can be scaled up to $2,000,000. FORFX is owned and operated by CEO Adem Dere who has made a transparent and solid environment for traders who want to start their trading journey or any expert who are looking for a trusted Prop Firm for expanding their portfolio.

Challenge Details :-

FORFX challenge accounts are specially tailored to suit all kinds of traders, whether if the trader is a rookie or an expert trader and not just that, Traders who wants to trade directly in a Funded Account without stressing about the hassle of passing the Two challenge phases can also opt for live account which are provided by ASIC Regulated broker OpoFinance.

FORFX offers 2 types of challenge accounts, Demo and Live Accounts, In Demo Accounts, There are 2 types of Challenge Accounts, Pro and Legend.

Pro Challenge Details :

Pricing:

$5000 Pro Account: $44
$10.000 Pro Account: $88
$25.000 Pro Account: $148
$50.000 Pro Account: $298
$100.000 Pro Account: $488
$200.000 Pro Account: $848
$400.000 Pro Account: $1780

Rules :

Profit Targets(Phase 1): 10%

Profit Targets(Phase 2): 5%

Max Daily Loss: 5%

Max Loss: 10%

Leverage : FX pairs and metals: 1:50, Commodities: 1:50, Indices: 1:30, Crypto: 1:1, Stocks: 1:20

Drawdown Type : Static

Min Trading Days: 4 Days

Maximum Trading Days: Unlimited

Expert Advisor : Yes

Free Repeat : No

Copy Trading Allowed : Yes

Legend Challenge Details :

Pricing :

$5000 Pro Account: $55
$10.000 Pro Account: $110
$25.000 Pro Account: $185
$50.000 Pro Account: $373
$100.000 Pro Account: $610
$200.000 Pro Account: $1060
$400.000 Pro Account: $2225

Rules :

Profit Targets(Phase 1): 10%

Profit Targets(Phase 2): 5%

Max Daily Loss: 5%

Max Loss: 10%

Leverage : FX pairs and metals: 1:50, Commodities: 1:50, Indices: 1:30, Crypto: 1:1, Stocks: 1:20

Drawdown Type : Static

Min Trading Days: 4 Days

Maximum Trading Days: Unlimited

Expert Advisor : Yes

Free Repeat : Yes

Copy Trading Allowed : Yes

Note : Both Pro and Legend Challenges comes with 2 different type of risks, Normal and Aggressive. By default, trader get the normal risk but with Aggressive Risk, Trader get bigger drawdown limit and Profit Target.

Changed Rules In Aggressive Accounts :

Max Daily Loss: 10% / Phase
Max Loss: 20%
Profit Targets: 20% 1st Phase | 10% 2nd Phase

Live Account Details :-

Prices :-

$1000 Deposit = $10K Funded Account
$5000 Deposit = $75K Funded Account
$10.000 Deposit = $100K Funded Account

Rules :-

Profit Target : 18%

Max Daily Loss: 0%

Max Loss: 8%

Leverage : FX pairs and metals: 1:30, Commodities: 1:20, Indices: 1:30, Crypto: 1:1, Stocks: 1:10

Drawdown Type : Static

Min Trading Days: 10 Days

Maximum Trading Days: Unlimited

Free Repeat : No

Expert Advisor : Yes

Copy Trading Allowed : Yes

Payment and Withdrawal Methods at FORFX

FORFX appreciates the simplicity of crypto when it comes to buying any account or withdrawing payout from the funded accounts. Traders can easily choose among all the Crypto assets available for making their payments.

FORFX Trading Platforms

For providing the best and most preferred trading platforms, FORFX has partnered with OpoFinance, An ASIC Regulated Broker who has been operating for 4 Years in the market and has over 150,000 traders on their platform.

With this partnership, FORFX stands out from the crowd and provide both MetaTrader 4 and MetaTrader 5 Platform.

We can’t forget to mention that all the accounts opened with FORFX are directly connected to OpoFinance MetaTrader servers for faster and accurate execution.

FORFX Trading Instruments

FORFX provides trader the access of various trading assets and traders can trade over 2000 particular assets.

Forex (Currency Pairs)
Cryptocurrencies
Stock Indices
Commodities
Futures

These are the type of instruments that are provided by FORFX.

FORFX Spreads and Account Information

Spread offered by FORFX are raw and near to Zero, This is great for trader to focus only on their strategies and not worry much about spreads and commissions.

All traders who have any account type in FORFX will experience ECN execution while trading.

ECN Accounts can make sure that the trader will have the same trading experience as the big institutions and banks.

Payouts and Refund Policy at FORFX

Payout Frequency in FORFX

Payouts Frequency is based on the account size a trader has.

For traders who has $5k to $50K accounts, They will get their 1st Payout after 30 Days and after that, Traders are free to withdraw the payouts on Bi-Weekly basis.
For traders who has the $100k account or more, Traders will get their Payouts after every 30 days.

FORFX Refund Policy

One of the most exciting reasons to trade with FORFX is their Refund Policy. All the traders who pass their Challenge Phases will get 125% Refund of the money they have paid for buying the accounts. These refund will be paid upon their first withdrawal.

Note : If a trader uses any EA(Risk Management EAs excluded) during any of the challenge phases or in Free-Repeat Add-on in Legend Accounts Then the trader will not be eligible for the Refund.

Conclusion

So let’s come to the real Question, IS FORFX a Legit Prop Firm?

In a short answer, Yes. FORFX is operating for over 9 Months now and has over 2000 Funded Traders on their platform and there hasn’t been any payout issues which shows the transparency in their payouts. FORFX has also partnered with an ASIC regulated Broker OpoFinance which is over 4 years old and has 150,000 traders on their platform. Thanks to their Aggressive risk type challenges, Traders are more open to trade with different strategies without feeling restrained with the drawdown limits. If we sum up all the pros that FORFX provide then it is definitely a great choice for both beginner and expert traders who are building their career in Forex Trading.