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 total 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 is looking for a trusted Prop Firm for expanding their portfolio.

Company Information of FORFX

• Company Name: FORFX
• Company Legal Name: Propfirm Capital L.L.C-FZ
• Company Registration No.: 2309049
• Operating Since: January 2024
• CEO Name: Adem Dere

Challenge Details of FORFX

FORFX offers 4 types of challenges: Flash, Peak Scalp, Legend, Black.

Flash Challenge of FORFX

Pricing:

• $5,000 Account: $50
• $10,000 Account: $92
• $25,000 Account: $160
• $50,000 Account: $315

Rules:

• Profit Target (Phase 1): 10%
• Profit Target (Phase 2): 5%
• Daily Drawdown: 5%
• Max Drawdown: 10%
• Leverage: For Forex and metals: 1:50, For Commodities: 1:50, For Indices: 1:30, For Crypto: 1:1 and Stocks: 1:20
• Max Lot Size: No limit
• Drawdown Type: Static Drawdown
• Minimum Trading Days: 4 days
• Copy Trading: Allowed
• FLR 4%: Only on $25K & $50K

Peak Scalp Challenge of FORFX

Pricing:

• $5,000 Account: $44
• $10,000 Account: $80
• $25,000 Account: $148
• $50,000 Account: $298

Rules:

• Profit Target (Phase 1): 8%
• Profit Target (Phase 2): 5%
• Daily Drawdown: 5%
• Max Drawdown: 12%
• Leverage: For Forex and metals: 1:50, For Commodities: 1:50, For Indices: 1:30, For Crypto: 1:1 and Stocks: 1:20
• Max Lot Size: No limit
• Drawdown Type: Static Drawdown
• Minimum Trading Days: 4 days
• Copy Trading: Allowed
• FLR 4%: Only on $50K balance

Legend Challenge of FORFX

Pricing:

• $5,000 Account: $55
• $10,000 Account: $110
• $25,000 Account: $180
• $50,000 Account: $373

Rules:

• Profit Target (Phase 1): 10%
• Profit Target (Phase 2): 5%
• Max Daily Loss: 5%
• Max Loss: 10%
• Leverage: For Forex and metals: 1:50, For Commodities: 1:50, For Indices: 1:30, For Crypto: 1:1 and for Stocks: 1:20.
• Drawdown Type: Static
• Minimum Trading Days: 4 days
• Max Lot Size: No limit
• Maximum Trading Days: Unlimited
• Free Repeat: Yes
• Copy Trading: Allowed
• FLR 4%: Only on $50K account

Live Account Challenges of FORFX

Pricing:

• $1,000 Deposit: $10,000 Funded Account
• $5,000 Deposit: $75,000 Funded Account
• $10,000 Deposit: $200,000 Funded Account

Rules:

• Profit Target: 18%
• Max Daily Loss: 0%
• Max Loss: 8%
• Leverage: For Forex and metals: 1:30, For Commodities: 1:20, For Indices: 1:30, For Crypto: 1:1 and for Stocks: 1:10
• Drawdown Type: Static
• Minimum Trading Days: 10 days
• Max Lot Size: No limit
• Free Repeat: Not allowed
• Copy Trading: Allowed
• FLR 2%: Only on $75k & $200K accounts

Scaling Plan of FORFX

There is currently no scaling plan offered for the live or demo challenges.

Spreads and News Trading Rules of FORFX

Spreads of FORFX

Spreads offered by FORFX are as low as 0.0 pips but in live account, it is 0.8 pips.

News Trading Rules of FORFX:

FORFX allows News Trading but there are few conditions that traders will have to follow during high impact news events.

1. Traders must not use over 50% of their margin to open trades within 30 minutes before and 5 minutes after high-impact forex news events.
2. Margin usage is restricted to 50% from 30 minutes before and 30 minutes after high-impact economic speeches.
3. Hedging is prohibited from 30 minutes before and 5 minutes after high-impact forex news events.

Note: Violations of Rules 1 and 2 will result in the profits removal and Violations of Rule 3 will lead to account termination.

Other Important Rules of FORFX

Daily Drawdown Calculation of FORFX:

FORFX calculates daily drawdown based on the end of the day balance at 5:00PM EST. This drawdown limit can increase or decrease based on the PnL of the balance.

Countries Banned from Purchasing of FORFX

FORFX services are not available to these countries :-

• Turkey
• Pakistan
• Australia
• United States of America
• Japan
• Canada
• North Korea
• Russia

Gambling Rules of FORFX:

Traders are not allowed to make 80% or more of the challenge profit target or funded account profit in a single trade or group of simultaneous trades. Repeated breaches will lead to account termination.

Prohibited Trading Strategies of FORFX

• Account Sharing or Selling
• High-Frequency Trading (HFT)
• User Collusion
• Hedging Across Multiple Accounts
• Using Delayed Data or Charts
• Abuse of Price Latency or Dividend Events
• Any Sort of Arbitrage Trading

Payout Methods of FORFX

FORFX processes payouts exclusively through cryptocurrency.

Trading Commissions of FORFX

Trading Commission Charged on FORFX is $6 per lot in every asset offered.

IP Rules of FORFX

FORFX does not allow traders to trade 2 or more accounts including competition accounts from the same location, all the accounts provided by FORFX are monitored via IP Addresses, Traders are allowed to use multiple devices to trade but they must have the same location.