TFloatField just uses the RTL FloatToStr function to format real numbers as text and which is not always that user friendly.
For float fields, I would normally use the fields editor to add the dataset fields to the form and then define an "OnGetText" event handler for each field for which you need to override the default formating. The event handler could be as simple as:
procedure TMyForm.MyDataSetFieldNameGetText(
Sender: TField; var aText: string; DisplayText: Boolean);
begin
if DisplayText then
aText := FormatFloat('####0.00',Sender.AsFloat)
else
aText := Sender.AsString
end;
The great thing about event handlers is that you can use the same event handler for every field that you want to format the same way.