Proprietary trading firms (prop firms) allow traders to trade with the firm’s capital and earn a share of the profits. Forfx (forfx) is one such firm, offering diverse accounts and trading challenges. Established in January 2024, Forfx claims to provide a transparent and innovative platform for both novice and professional traders. This article offers an unbiased and comprehensive review of Forfx.
History and Background
Forfx was founded in January 2024 in Dubai, UAE, under the legal name Propfirm Capital L.L.C-FZ with registration number 2309049.01. Led by CEO Adem Dere, the firm aims to create a transparent trading environment. It is backed by the regulated broker Opofinance, adding to its credibility. Forfx claims to have paid over $3 million in profits, funded over 3,500 traders, and attracted more than 10,000 active users across 100+ countries.
Account Types and Challenges
Forfx offers five account types: Flash, Peak Scalp, Legend, Black, and Live. Each is designed for different trading styles, with specific profit targets, loss limits, and trading rules:
Flash Account
- Structure: Two-phase challenge with 10% (Phase 1) and 5% (Phase 2) profit targets.
- Loss Limits: 5% daily, 10% overall.
- Features: EA allowed, weekend holding permitted, up to 90% profit split, payouts in 10 days.
- Minimum Trading Days: 4 days.
Peak Scalp Account
- Structure: Two-phase challenge with 8% (Phase 1) and 5% (Phase 2) profit targets.
- Loss Limits: 5% daily, 12% overall.
- Features: No minimum trading days, highest loss limit, up to 80% profit split.
- Specific Rules: No 30-second rule.
Legend Account
- Structure: Two-phase challenge with 10% (Phase 1) and 5% (Phase 2) profit targets.
- Loss Limits: 5% daily, 10% overall.
- Features: Free retry option, up to 90% profit split, second payout in 14 days, 125% bonus.
Black Account
- Structure: Two-phase challenge for large capital ($100,000 to $400,000).
- Loss Limits: 5% daily, 10% overall.
- Features: EA allowed, 125% bonus, up to 80% profit split.
Live Account
- Structure: One-phase challenge with an 18% profit target.
- Loss Limits: No daily loss limit, 8% overall.
- Features: 100% profit split during evaluation, no additional fees, capital up to $300,000.
The following table compares these accounts:
| Account Type | Phases | Profit Target | Daily Loss | Overall Loss | Minimum Trading Days | Profit Split | Payout |
|---|---|---|---|---|---|---|---|
| Flash | 2 | 10%/5% | 5% | 10% | 4 | Up to 90% | 10 days |
| Peak Scalp | 2 | 8%/5% | 5% | 12% | None | Up to 80% | 30 days |
| Legend | 2 | 10%/5% | 5% | 10% | 4 | Up to 90% | 14 days (2nd) |
| Black | 2 | 10%/5% | 5% | 10% | 5 | Up to 80% | 30 days |
| Live | 1 | 18% | None | 8% | 10 | 100% (evaluation) | 30 days |
Pricing
The cost of Forfx challenges varies by account type and capital size. For better readability, pricing for each account type is presented in separate tables:
Flash Account Pricing
| Capital (USD) | Cost (USD) |
|---|---|
| 5,000 | 50 |
| 10,000 | 92 |
| 25,000 | 160 |
| 50,000 | 315 |
Peak Scalp Account Pricing
| Capital (USD) | Cost (USD) |
|---|---|
| 5,000 | 44 |
| 10,000 | 80 |
| 25,000 | 148 |
| 50,000 | 298 |
Legend Account Pricing
| Capital (USD) | Cost (USD) |
|---|---|
| 5,000 | 55 |
| 10,000 | 110 |
| 25,000 | 180 |
| 50,000 | 373 |
Live Account Pricing
| Capital (USD) | Cost (USD, Deposit) |
|---|---|
| 10,000 | 1,000 |
| 75,000 | 5,000 |
| 200,000 | 10,000 |
| 300,000 | 20,000 |
Competitions and Rewards
Forfx hosts free competitions that allow traders to access prop challenges without entry fees. For example, the June competition offered top traders free challenge access. As of May 25, 2025, information on ongoing competitions is limited. Traders should check the official website (forfx) for updates.
Trading Platforms and Instruments
Forfx supports MetaTrader 4, MetaTrader 5, and cTrader. Tradable instruments include forex, metals, stocks, cryptocurrencies, indices, and commodities. Leverage levels are:
- Forex and Metals: 1:50
- Commodities: 1:50
- Indices: 1:30
- Cryptocurrencies: 1:1
- Stocks: 1:20
Spreads start at 0.0 pips for demo accounts and 0.8 pips for live accounts. Commissions apply to cryptocurrencies (0.003 × lot size × price) and stocks (0.8 × lot size × price), which some traders consider high.
Rules and Regulations
Each account type has specific rules:
- Minimum Trading Days: 4 to 10 days.
- Loss Limits: 5% to 10% daily, 8% to 20% overall.
- Profit Targets: 5% to 20%.
- Specific Rules: Weekend holding allowed, EA permitted (some accounts), restrictions on news trading.
- Prohibited Strategies: Account sharing, high-frequency trading, hedging between accounts, arbitrage trading.
Payouts and Profit Splits
Payouts are processed via cryptocurrencies, with profit splits up to 90%. Payout times range from 10 to 30 days. The Live account offers a 100% profit split during evaluation. Some traders report delays or non-payment of profits.
Customer Reviews and Reputation
Forfx has a 4.1/5 rating on Trustpilot based on 47 reviews. Positive feedback highlights the user-friendly dashboard and customer service, but complaints include non-payment of profits, high commissions, and account closures without clear reasons. Forfx responds to 77% of negative reviews, though responses are often delayed.
Conclusion
Forfx is a new prop firm with diverse accounts and free competitions. Its backing by Opofinance and access to large capital are strengths. However, complaints about payouts and high commissions require careful consideration. Traders should review rules and user feedback before committing.
Strengths:
- Backed by regulated broker
- Diverse account types
- Free competitions
- High capital access (up to $400,000)
Weaknesses:
- High commissions
- Payout complaints
- Limited information on ongoing competitions
Traders should conduct thorough research before choosing Forfx.