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

• 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

FORFX offers two types of challenges: Demo and Live Accounts. Each challenge has unique rules and pricing, as outlined below.

Demo Account Challenges

Pro Challenge

Pricing:

• $5,000 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: $1,780

Rules:

• Profit Target (Phase 1): 10%
• Profit Target (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
• Minimum Trading Days: 4 days
• Maximum Trading Days: Unlimited
• Expert Advisor: Allowed
• Free Repeat: Not allowed
• Copy Trading: Allowed

Legend Challenge

Pricing:

• $5,000 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: $1,060
• $400,000 Pro Account: $2,225

Rules:

• Profit Target (Phase 1): 10%
• Profit Target (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
• Minimum Trading Days: 4 days
• Maximum Trading Days: Unlimited
• Expert Advisor: Allowed
• Free Repeat: Yes
• Copy Trading: Allowed

Risk Options in Demo Accounts

Traders can choose between Normal and Aggressive risk options:

• Normal Risk (default) has the standard rules mentioned above.
• Aggressive Risk has the following adjusted rules:
  • Max Daily Loss: 10%
  • Max Loss: 20%
  • Profit Target (Phase 1): 20%
  • Profit Target (Phase 2): 10%

Live Account Challenges

Pricing:

• $1,000 Deposit: $10,000 Funded Account
• $5,000 Deposit: $75,000 Funded Account
• $10,000 Deposit: $100,000 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
• Minimum Trading Days: 10 days
• Maximum Trading Days: Unlimited
• Free Repeat: Not allowed
• Expert Advisor: Allowed
• Copy Trading: Allowed

Scaling Plan

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

Spreads and News Trading Rules

Spreads

FORFX provides raw spreads close to zero, which minimizes traders' costs and allows them to focus solely on strategy execution.

News Trading Rules:

News Trading is allowed but there are few conditions that traders will have to follow during a high impact news event.

1. Traders cannot use more than 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 from those trades not being counted. Violations of Rule 3 will lead to account termination.

Other Important Rules

Daily Drawdown Calculation:

FORFX calculates daily drawdown based on the end of the day balance at 5:00PM EST. This drawdown is based on Equity Based Drawdown which means that the drawdown limit can grow or shrink as the account balance increases or decreases each day.

Countries Banned from Purchasing

FORFX services are not available to these countries :-

• Turkey
• Pakistan
• Australia
• The United States
• Japan
• Canada
• North Korea
• Russia.

Gambling Rules:

Traders cannot meet 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

• 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

Payout Methods

FORFX processes payouts exclusively through cryptocurrency.

Trading Commissions

There are currently no specified trading commissions for FORFX accounts.

IP Rules

There is a few things that a trader should understand when trading with FORFX that they are not allowed 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.