If you’re considering investing with MyForexFunds, it’s important to do your research and ensure that it is a trustworthy platform. In this comprehensive MyForexFunds review, we will provide you with all the information you need to make an informed decision.
First, we’ll look at the features available on this industry-leading platform so you can determine whether it meets your trading needs or not.
Then, we’ll delve into its reputation in the market, fee structure, customer service support levels, and popular account options for different types of traders.
Table of Contents
What is MyForexFunds?
MyForexFunds is an investment platform that claims to offer high returns on investments in the forex market. According to their website, they use advanced trading algorithms and strategies to generate profits for their investors.
However, it is important to approach this platform with caution and conduct thorough research before investing any money. There have been reports of scams in the forex industry, so it is crucial to verify the legitimacy and reliability of MyForexFunds before making any investment decisions.
Founded in July 2020, it has grown to become one of the largest Forex prop trading platforms. MyForexFunds now has over 300 workers worldwide and more than 2,000 daily customers from all over the world.
The prop trading firm also continues to expand its business in order to provide live trading accounts to more people who wish to earn from their skills.
How does MyForexFunds work?
MyForexFunds (or MFF) provides live trading accounts to aspiring traders as long as they can demonstrate their ability to profitably trade. They can choose from different funding programs and account sizes to suit their trading and risk management needs. As a result, successful traders can receive the lion’s share of all profits from these accounts.
MFF works with Traders Global Group to provide trading access to a variety of goods using the MetaTrader 4 and 5 platforms (MT4 and MT5).
Funding Programs on MyForexFunds
This prop trading platform has three funding programs for you to choose from, depending on your trading expertise and preferences:
- Rapid
- Evaluation
- Accelerated
Each funding program has its corresponding registration fee and its own set of trading rules that you must follow as a trader.
MyForexFunds will suspend your trading account (demo or live) if you breach any trading rule. However, you can reset for a 10% discount, where the prop trading platform will provide you with a new account.
The company will refund your registration fee once you receive your first payout from your live trading account. This, however, this doesn’t apply to Accelerated programs.
You can also get a refund if you only registered and never used your account.
Each funding program has its own profit-sharing rules. You can request a payout from your live trading account via Bank Transfer, Bitcoin, Transferwise, or Paypal.
Rapid Funding Program
MFF’s Rapid Funding is for traders who want to first learn how to trade effectively. It is a beginner-friendly funding program that gives you a demo account to practice trading while receiving a modest part of the total profits. My Forex Funds designed it to assess whether you can trade profitably or not.
As a main advantage of Rapid, My Forex Funds is rewarding you with 12% of all profits while you practice trading in a demo account.
Within three months, it is necessary to fund your live account using all the profits you gain from the demo account.
Once your live account reaches 10% of the initial balance of your demo account, you can now receive a maximum profit split of 80% from your live account. That’s a a huge jump from the 12% in your demo account.
The account sizes range from $10,000 to $100,000, while registration fees start from $99 up to $749.
On the positive side, you don’t get charged monthly fees for using demo and live trading accounts in Rapid.
Here are the trading rules for this funding program:
| RAPID FUNDING PROGRAM | |
| Daily Drawdown Limit | 5% of the daily starting balance of the trading account |
| Overall Drawdown Limit | 10% of the starting balance of the trading account |
| Account Types | Consistency Enabled (CEA) and Non-consistency Enabled (NEA) |
| Minimum Trading Days | Three per week |
| Leverage Cap | 1:500 |
Depending on the account type, you can receive your payout at a set time interval – either bi-weekly (for CEA) or monthly (for NEA). CEA has higher and more frequent payouts than NEA. However, you must follow the consistency rules set in CEA. It is suggested that you perform at least one profitable trade per day in order to keep your CEA.
Evaluation Funding Program
For traders who want to demonstrate their trading skills, Evaluation is ideal for them. Unlike in Rapid, you need to complete a two-step trading challenge within a set time interval to access a live trading account here in Evaluation.
You can receive your first payout in a month after acquiring the live account from My Forex Funds, equal to 75% of the total profit made.
From this point on, you will get bi-weekly payouts at the maximum profit split of 85%.
The account sizes range from $5,000 to $300,000, while registration fees start from $49 up to $1,389.
Similar to Rapid, the prop trading platform does not charge monthly fees for using trading accounts in Evaluation.
Here are the trading rules for this funding program:
| EVALUATION FUNDING PROGRAM | |
| Daily Drawdown Limit | 5% of the daily starting balance of the trading account |
| Overall Drawdown Limit | 10% of the starting balance of the trading account |
| Profit Target | Phase 1: 8% of the starting account balance within 30 days Phase 2: 5% of the starting account balance within 60 days |
| Minimum Trading Days | Five per week |
| Number of Retakes and Extensions | Retakes: Unlimited Extensions: Two free of up to 14 days each Condition: Target in Phase 1 not reached after the deadline, but in profit and consistent in trading. |
Accelerated Funding Program
MyForexFund’s Accelerated Program is for traders who want to skip the line and go immediately into live trading. In this funding program, you can grow your live trading account quickly all the way up to $2 million through its scale-up feature.
Every time you meet every profit target, My Forex Funds will boost the funding amount of your live trading account until reaching the $2 million cap.
In other words, consistency is the key to your success in Accelerated!
There are two scale-up models in Accelerated: conventional and emphatic. Firstly, the conventional model allows you to scale up your live trading account from $324,000 to $1.35 million depending on the starting account size. Meanwhile, you can boost your maximum account size from $486,000 to $2 million with the emphatic model.
MyForexFunds pays you 50% of your account’s total profit every week. Note though, that your account must be 5 days old to be eligible for a weekly payout.
Regardless of the scale-up model, the account sizes offered in Accelerated range from $2,000 to $50,000.
For accounts under the conventional model, registration fees start from $99 up to $2,450. You pay double the registration fee when you enroll an account under the emphatic model.
Here are the trading rules for this funding program:
| ACCELERATED FUNDING PROGRAM | |
| Daily Drawdown Limit | None |
| Overall Drawdown Limit | Conventional: 5% of the starting balance of the trading account Emphatic: 10% of the starting balance of the trading account |
| Trading Instruments Available | Forex, Metals, and CFDs |
| Leverage Cap | Conventional: 1:50 Emphatic: 1:100 |
| Profit Target | Conventional: 10% of the starting account balance to scale up Emphatic: 20% of the starting account balance to scale up |
| Is Over-the-Weekend Trading Allowable? | No |
| Time and Lot Size Limit | None |
| Consistency Rules | None |
What are the Benefits of Using MyForexFunds?
If you’ve ever done some trading, then you know that every win in your live trading account simply makes the investment worth it. To their credit, MyForexFunds appears to also invest in cutting-edge technologies to create the best possible trading environment for their traders.
Here are some of the advantages of using My Forex Funds for your prop trading experience:
| MY FOREX FUNDS BENEFITS | Various instruments to trade, aside from Forex, through MetaTrader 4 and 5 platforms. |
| A 24/7 customer support that’s always there for you. | |
| An active community with the team and your fellow traders, for your exciting prop trading experience. | |
| Immediate access to demo or live trading accounts after paying the registration fee. | |
| Funding programs tailored to both newbies and seasoned traders – select the program that fits you the best! |
What to Expect When Using MyForexFunds?
If you’re thinking about using My Forex Funds as your prop trading platform, then you might be wondering what to expect.
Each prop trading platform has its own funding program and trading rules. You need to refine your trading skills in order to be successful in this industry. You must also be able to deal with the pressure of using actual money to trade. My Forex Funds, on the other hand, is a beginner-friendly platform because it features a funding program tailored for new traders.
Despite that, it’s still important to do your research and understand the platform’s funding programs as well as the corresponding trading and profit-sharing rules. You can compare My Forex Funds to other competitors since not all prop trading platforms are created equal. With this in mind, you just need to make sure that My Forex Funds is the most suitable one for your prop trading experience.
In prop trading, you can have quick access to capital. But it is important to emphasize that you should be more careful in handling capital that you do not own. Therefore, here are some additional tips for using prop trading platforms:
- Create your own trading strategies and stick to them even when you win to avoid making judgments based on emotions.
- Use risk management measures such as stop-losses, position sizing, and others.
- Aside from the tips above, you must be patient and persistent because long-term dedication is required for success.
My Forex Funds Reviews:
Name/Nickname: Daniel
Best price for beginners traders and really good opurnity for constantly profitable traders, only downside is no holding over the weekend so not so good for swing traders but other than that is the best prop firm.
Name/Nickname: Zakaria
Awesome forex trading company. I am using really good signals and trading tools from them. I would highly recommend this company. They are knowledgeable and experienced in the forex market.
Name/Nickname: Crisitan
MYFOREXFUNDS IS 1000 TIMES BETTER THAN FTMO
2 prop firm i pay but FTMO is expensive and have hard target.
Name/Nickname: Jared
Best platform out there , I have passed both evaluations and am now live funded with them ! Highly recommend .
Name/Nickname: Victor
Congratulations on the transparency! I’m funded by mff and I’ve never had any problems.
Name/Nickname: Prince
I was referred to MFF platform by a friend online. I thought it was a scam company but I was moved to try and here I earned. I just want to share this good news to people around the world.
Name/Nickname: Mohammed
I have been trading for you guys since 24 May 2021. Not came across any bad experience so far. Everything seems pretty awesome. Thanks!
Name/Nickname: Greg
I have been very disappointed with MFF , I love the platform and love the relaxed rules which like alot of traders help us actually make it thru the evaluations …and you can use an EA ( I sent them the source code ) but I have been very disappointed with the tech support or just general support , I have sent at least 5 emails over 10 days and just dont get any response
Name/Nickname: Elena
An excellent trusted platform who is a pleasure to work with. Service are great. When it comes to forex trading. I was able to earn a good profit, signals are accurate. Great broker. Highly recommended.
Name/Nickname: Harry
MMF prices are cheaper than FTMO but FTMO has been around for a very long time. Everything they have looks good and better than FTMO but FTMO has been around for a very long time. My pick is MMF but you have decide yourself 🙂
Name/Nickname: Sambi
You really came to change my life and of those who are smart enough to come to realize that you came to be the best one of that industry. I have no but thanks for your existence and hope to last an everlasting time walking with you guys. Long life MMF.
Name/Nickname: Raj
For me MFF is much better than FTMO. The only one advantage of FTMO is that they has the more established reputation. My Forex Funds is better in the everyone else (price, good for new traders, withdrawals etc.)
Name/Nickname: Nicole
I’m funded with MFF and no issues, their customer service can be a bit slow and not everything is explained perfectly but they do pay out and that’s all I really care about when I’m trading someone else’s money!
MyForexFunds Review: Final Thoughts
The decision to use My Forex Funds as your prop trading platform is not one to be taken lightly. However, after carefully weighing all of the platform’s features and benefits, it is clear that it is a wise investment. MyForexFunds offers everything you need to prosper in the highly competitive world of prop trading, such as its user-friendly interface, competitive trading conditions, and all-inclusive funding programs for both novice and seasoned traders.
All in all, MyForexFunds.com is an excellent option for anyone looking to earn from lucrative financial chances through prop trading. So, if you’re serious about pushing your trading to the next level and earning money from it, give My Forex Funds a try!
My Forex Funds Coupon Codes & Deals:
➤ 5% (Upto $100.00) off My Forex Funds Rapid & Evaluation Coupon Code (CLICK BUTTON BELOW)
My Forex Funds Resources:
CLICK ➤ Frequently Asked Questions (FAQ)
CLICK ➤ About Accelerated Program
CLICK ➤ About Evaluation Program
CLICK ➤ About Rapid Program
