Right now there are two main ways to create pixel font TTFs.
One option is using a full-blown (and probably expensive) professional vector typeface design tool, and draw the pixel squares one by one. You might place a square off-grid, you might accidentally move a control point, etc. And the editing workflow is not ideal (you're not drawing pixels, you're editing curves!).
Another option is to create all characters in one big image, using a pixel art editor, and using some kind of exporter script or external tool to cut them and assemble them into a TTF. What happens if you make a character wider or narrower? Do all characters need to be the same width? Can you use the entire Unicode space?
All-in-one solution for pixel font creation
Smooth workflow from start to finish: instead of manually drawing squares in a generic font editor, or drawing a font atlas and having to use an external tool to create the font file, you create, edit and export to your favourite format right from the app.
Export to multiple formats
You can generate TTF files, and soon also Atlas+XML and other formats. And the internal format is plain text and unobfuscated: it plays well with version control systems, diffs and potential external tools.
Import TTF fonts and other formats!
You can even get your already created TTF files and import them in order to edit them. If the TTF is a true pixel font (not just a generic vector font), the importer will auto-detect the appropiate font size and load all glyphs.
Full Unicode support, text preview and more
Edit any Unicode glyph, including in unassigned ranges. Text preview seamlessly updates as you add and edit glyphs. Multiple documents open at the same time, undo system, font meta-data editing... More on the features page.
Free version without restrictions
The "trial" app is fully featured, no limitations at all. When the trial period is over, you can keep using it indefinitely. You're asked to purchase the full version but nothing happens if you don't. More info on the download page.
Limitations and future features
Only supports 1-bit (monochrome) bitmap fonts: No intermediate grays, no colors. Only one size per font, no multiple weights.
Check out the road map for possible future additions to the app.
On first run (and on demand) a tutorial will teach you how to use PixelForge. Further documentation is available online.