True Forex Funds closed permanently in May 2024. The firm announced insolvency after MetaQuotes withdrew its MetaTrader licence earlier that year, and its website now shows only a closure notice. If you held an evaluation or funded account there, no new challenges can be bought and no further payouts are being processed. This page stays online because traders still search for it; the calculator above still works, and the rest of the page explains how to carry a True Forex Funds sizing plan over to a firm that is operating.
What True Forex Funds' rules looked like
For traders migrating a plan, this is the rule set most True Forex Funds accounts used before closure:
Figures checked on 26 Sept 2026 against True Forex Funds' own FAQ as archived before the closure (February 2024); the firm no longer sells accounts. Source: Loss limits, archived.
| Rule | Value |
|---|---|
| Profit target | 8% Phase 1, 5% Phase 2 |
| Maximum daily loss | 5% |
| Maximum loss | 10% |
| Drawdown type | Equity-based: static 10% floor on the initial account size; daily limit measured from start-of-day equity (0:00 CET) |
That is the same 5% / 10% structure used by FTMO's 2-Step Challenge, FundedNext Stellar 2-Step and Funding Pips' 2-Step Standard, so a sizing model built for True Forex Funds transfers directly to any of those.
The same formula, a different firm
Lot size = (Account balance × Risk %) ÷ (Stop loss in pips × Pip value per lot)Example: $100,000 account, 1% risk, 20-pip stop on EUR/USD → $1,000 ÷ (20 × $10) = 5.00 lots. At 0.5% risk, 2.5 lots. At a 40-pip stop, half of each.
With 5% daily and 10% maximum limits, 1% per trade allows five losses in a day and ten in total; 0.5% doubles both. That arithmetic is identical at every 5/10 firm.
Where to take a 5% / 10% sizing plan
- FTMO — 2-Step Challenge: 5% daily, 10% maximum, 10% then 5% targets, no time limit.
- FundedNext — Stellar 2-Step: 5% daily, 10% static maximum, so banked profit widens the buffer.
- Funding Pips — 2-Step Standard is 5% / 10%; other programs are tighter.
- The5ers — tighter on Hyper Growth, with a 3% daily pause and a 6% stop-out; halve your risk per trade if you move there.
What the closure taught prop-firm traders
True Forex Funds was one of the larger firms of its era, and it failed with hundreds of payouts outstanding. The lesson is not about sizing but about counterparty risk: an evaluation fee is money at risk, a funded balance is not your money, and a firm's own solvency is a variable in your plan. Spread evaluations across firms, withdraw profits on schedule, and keep your own record of every trade — a journal you control outlives any dashboard a firm controls.
Keep your records in Fips
Fips's free trading journal stores your trades independently of any prop firm's platform, with R-multiples, daily P&L and performance analysis across accounts. MT4 and MT5 accounts sync automatically with the read-only investor password or the Fips connector on your computer; cTrader and other platforms connect through read-only API access, and CSV import is there as an extra option. If a firm disappears, your track record does not.
Frequently asked questions
Is True Forex Funds still open?
No. It ceased operations in May 2024 citing financial insolvency and has not reopened.
Can I still use a True Forex Funds calculator?
The calculator on this page works for any account; it is not tied to the firm. Use it with the balance and rules of whichever firm you trade with now.
Which firm has the most similar rules?
FTMO's 2-Step Challenge, FundedNext Stellar 2-Step and Funding Pips 2-Step Standard all use the 5% daily / 10% maximum structure. FundedNext's static maximum is the closest in spirit to True Forex Funds' static floor on the initial account size.
Fips is not affiliated with, endorsed by or sponsored by True Forex Funds. The rule figures on this page are the terms True Forex Funds published before it closed in May 2024; the firm no longer operates, so check the current rules of whichever firm you trade with now.