ForFX prop firm offers traders funded account challenges ranging from 5k to 400k USD dollars. The firm offers demos and live evaluations but lacks educational resources. The profit target is 10% and the daily risk limit is set at 5%. Payouts are set at 80% and both MT4 and MT5 are provided.
In our ForFX review, we are going to assess the firm’s safety, rules, funding options, platforms, fees, support, and more.
Pros & cons of ForFX prop firm
Pros
- Ability to withdraw with $0 fees
- Offers access to MetaTrader 4, MetaTrader 5
- Fast and digital account opening/verification
- A higher maximum loss limit of 10%
- Most payment options are free and instant
Cons
- Strict profit target of 10%
- Offers access to a handful of assets
- Questionable safety due to being a young prop firm with few traders’ reviews
- No educational content offered
- Lacks lower minimum funding below 5k
Quick rating of ForFX and its features
| FPA Score | Not yet rated |
| Year founded | 2023 |
| Headquarters | Unknown |
| Minimum audition fee | 44 USD |
| Fees on withdrawals | 0 USD |
| Minimum funded amount | 5,000 USD |
| Maximum funded amount | 400,000 USD |
| Allowed daily loss | 5% |
| Profit target | 10% |
| Maximum trailing drawdown | 10% |
| Profit sharing (Payouts) | 80% (90% on legend accounts) |
| Trading Platforms | MetaTrader 4, MetaTrader 5 |
| Available trading markets | Forex, indices, commodities, cryptos |
Safety of ForFX — 1.5
ForFX reviews are lacking on the FPA as the firm was recently launched, making it a young prop firm. Because of being young, the reviews are also very few on Trustpilot, making it difficult to assess trade reviews and the firm’s legitimacy. So, the two components of safety are both missing and only a 3rd one remains, the partner broker of ForFX. The firm is backed by OpoFinance Forex and CFDs broker, through which ForFX offers trading on its funded accounts. OpoFinance is regulated offshore by Seychelles FSA, which is not a very strict regulator and leaves plenty of room for scams and fraud. However, it is still an achievement to have a regulated broker, and the firm gains points in this component of safety.
The firm gets a 1.5 score in this section for having partnered up with a regulated Forex broker.
ForFX Funding and maximum capital allocation — 3
ForFX funded programs are diverse and consist of pro and legend accounts. These accounts are either live or demo. For live accounts, traders need to register on OpoFinance and deposit funds for trading where they show their performance and after achieving the profit target, the firm will provide access to a funded account. For demo trading, traders can directly sign up at the website of ForFX and start the evaluation phase. Each of the accounts is divided into normal and aggressive types, allowing traders to take more risk.
ForFX funding is diverse and ranges from 5k to 400k USD for all account types. The firm starts the live challenge right after the trader executes their first live trading position.
ForFX challenges have the following funding options, 5k, 10k, 25k, 50k, 100k, 200k, and 400k US dollars. This is a serious range and should allow both beginners and seasoned traders to find preferable funded amounts. However, since the lowest funding option is 5k, beginners still have no chance to select lower accounts to start their trading journey smoothly with lower risks.
ForFX scaling plan is not offered at the moment, which is a downside for experienced traders. Overall, ForFX receives a 3 score in this section for offering diverse funded options.
ForFX Assets — 2.5
ForFX prop trading is possible by speculating on Forex pairs, indices, commodities, and crypto assets. The firm does not offer stocks or any other trading asset classes, which is a downside. Therefore, ForFX gets a 2.5 score in the assets section for offering a mediocre range of different assets.
ForFX Trading rules and limitations — 1.8
ForFX rules are average overall, with a daily risk being 5% and a profit target of 10%, traders will need to be careful to hit the profit target in a reasonable time without breaching rules. The maximum drawdown is at 10% which is very competitive. Holding positions overnight and over the weekends are both allowed, and traders can also open positions during major news releases. However, there is a catch, traders are not allowed to open positions with more than 50% of their margin during major news releases. This also means traders need to trade with this restriction when using trend trading and swing trading strategies, which require them to hold open positions overnight or over the weekends. For offering average rules, the firm receives a 1.8 score in this section.
ForFX Fees — 2.5
ForFX has a competitive fee structure, where the lowest fee for a 5k account (lowest funded amount) is 44 USD. While the fees are different for pro and legend funded account types, they are the same no matter whether the trader selects the normal or aggressive mode.
To clearly compare fees for different types of funded accounts, below is the list.
The fees for the ForFX Pro accounts are as follows:
- Funded amount: 5,000 USD – one-time fee: 44 USD
- 10,000 USD – 88 USD
- 25,000 USD – 148 USD
- 50,000 USD – 298 USD
- 100,000 USD – 488 USD
- 200,000 USD – 848 USD
- 400,000 USD – 1,780 USD
The ForFX Legend funded account type has a slightly more expensive fee structure:
- Funded amount: 5,000 USD – one-time fee: 55 USD
- 10,000 USD – 110 USD
- 25,000 USD – 185 USD
- 50,000 USD – 373 USD
- 100,000 USD – 610 USD
- 200,000 USD – 1,060 USD
- 400,000 USD – 2,225 USD
ForFX free trial is not available as traders need to purchase a challenge or sign up at the broker and deposit funds. ForFX free repeat is available for all phases before the trader gets a funded status. Overall, the firm gets a 2.5 score in the fees section for offering a competitive fee structure.
ForFX Platforms — 2.6
ForFX provides traders access to advanced MetaTrader 4 and MetaTrader 5 platforms. The firm does not allow automated trading robots which are a limiting factor for these platforms as they both support EAs (Expert Advisors), and custom indicators. Both of these platforms offer similar capabilities and allow comprehensive market analysis with technical tools and indicators.
For offering these platforms, the firm gets a 2.6 score in this section.
ForFX Profit-Sharing — 3
ForFX profit split is set at 80% for the pro accounts, while it is set at 90% for the legend funded accounts. There is no difference if the trader selects normal or aggressive mode, profit sharing levels as well as fees are exactly the same. The firm gets a 3 score in this section for offering up to 90% profit-sharing.
Education and trading tools at ForFX — 0
The firm lacks educational resources. There are no webinars or free caution offered for novices, which is a downside for beginner traders. There is also no blog to get market insights or other useful tools and content offered. Overall, the firm gets a 0 score in the education section for not offering learning materials.
Customer Support at ForFX — 3.6
The firm offers several channels for customer support, including email, live chat, and hotline options. The website and support are available in 2 different languages, but it is not enough to call ForFX an international multilingual prop firm.
Frequently Asked Questions on ForFX
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