Phase 1 marks the start of the Evaluation Process. It sets achievable trading objectives as stepping stones toward the ultimate goal of becoming a funded trader.
True Forex Funds takes an inclusive approach for all traders in Phase 1 across all account types – the Standard, Quick Funding, and Timeless Funding.
There are common objectives in Phase 1 for all three account types:
- 8% profit target
- 5% max daily loss limit
- 10% max overall loss limit
Each account type, however, carries its distinct features in this phase:
- Standard Account: You need to trade for a minimum of 5 days, but they don’t need to be consecutive nor do you have to utilize the full 30-day period.
- Quick Funding Account: This account removes the minimum trading days requirement.
- Timeless Funding Account: This type offers unlimited trading days in Phase 1, allowing you to trade at your own pace.
In a bid to support our clients’ trading styles, the trading period kicks off with the first actual trade placed on the account, fostering greater flexibility. As soon as the 8% profit target is attained and your Phase 1 results are evaluated and verified, the progression to Phase 2 can occur.
This methodical evaluation is not only helpful for us to understand our traders’ skill level, but it also fosters good trading habits. Whether you’re new to trading, or have been a part of this world for a while, our clear and simple rules are designed to facilitate the transition to Phase 2 and prepare you for a funded account.