So on each cycle, 3.5% profits will be collected as the condition for the real account. Companies can ask for reviews via automatic invitations. In our experience and assessment, My Forex Funds is one of the best offers for traders looking to bypass the vetting process and get funded from the start, which is possible thanks to their Accelerated account programme. 20475527Balance is still $19003 on 20K account but marked as breached:ibb DOT co/FYVV7cXTry live chat and the agent said it not possible to reinitiate the account with current balance. In Phase I, you must reach a profit target of 8% within 30 days. You just have to make sure you dont hit the daily drawdown, as that is one of the easiest rules to mistakenly violate. MFF lets you trade many different instruments from Forex, metals, Crypto, Indices, and stocks. For you to begin your career as a Forex Funded Trader, the My Forex Funds Prop Firm offers a variety of programmes. Rapid accounts are meant for new-ish Forex traders who wish to access trading capital extremely quickly. Prop trading is about your ability to trade and not about using other peoples ability to trade. At trading times like 10:45 am EST, when the market has a high volume, a 25 pip slippage is typical for them.So, in my opinion, no trader would find a 25 pip slippage at the New York session . You have the option of choosing between limitless free retakes or two free extensions of up to 14 days each if your Phase I 30-day restriction is met and you are still in profit. Lets say, a trader with a $10,000 account has traded for 3 trading cycles, gaining 8%, 5%, and 10% profit on each. The traders account balance should be breakeven or positive at the time of the scale-up request. FTMO, on the other hand, offers a two-step evaluation. They accept payments by credit/debit card and cryptocurrency. The Rapid model has no time restriction. Still, if your risk is controlled and youre never risking more than 1-2% per trade, you wont have this issue. Every participant in such operations will have their trades adjusted to the executed fill price that they have obtained from the liquidity pool. My Forex Funds offers a unique one-step evaluation, a two-step evaluation, and an instant funding program. I recently paid for, took and passed the My Forex Funds evaluation phase 1. The live account will be worth 10% (all funds transferred) of the original trading account size and maintain the rules. Find out how we combat fake reviews. 24 hours a day, 5 days a week, from Monday to Friday.
My Forex Funds Review for 2023 - Online Prop Trading Theres also a 5% maximum daily drawdown. My Forex Funds is a prop trading firm based in Canada. Depending on your experience, My Forex Funds offer forex traders a variety of product possibilities. If in addition to this My Forex Funds Accelerated program you would like to see other proprietary firms that offer instant funding you can check this list: No evaluation prop firms. $84 // $10,000 You can trade conveniently using the trading platform of your choice! If they can make improvements to their support team and use better Forex brokers, most traders may opt to open their Forex trading accounts with MFF rather than anyone else. You will be able to open trades during the weekend in the Evaluation account. 2023 Trustpilot A/S. The support teams are always here to help us with both Discord and e-mail.
My Forex Funds stats, visually explained - YouTube Labeled Verified, theyre about genuine experiences.Learn more about other kinds of reviews. All things considered, to increase your chances of avoiding suffering a loss, you can engage in a trading plan and use effective risk management techniques. We prefer prop firms like this since they provide quick funding, which saves us time trading on demo accounts. MyForexFunds has a variety of reviews from its users.
My Forex Funds - Prop Trader In this account, the trader must go through a two-stage process with certain requirements. Required fields are marked *. Blew account. You must nevertheless demonstrate strong trading skills under a strict set of restrictions. Theyve also built up quite a reputation in the short time theyve been in business with over 1000 reviews on TrustPilot. MyForexFunds prides itself on allowing all trading styles to get funded. When I first called assistance, they informed me that there was no fresh information, and I then asked them to check my trade. You have to retake the account, paying the subscription fees with a 10% discount. MFF allows news trading and holding trades, while FTMO does not, unless you have a swing account. You can bring your abilities, and work with them to develop your future while earning a range of benefits. MFF lets you withdraw using Paypal, crypto, and Transferwise. Which one is better? When you can be compensated for accomplishing a new goal, why settle for merely a refund? Quick and automated processes, very good customer support and not to mention a quality website for thier brand. All information about the rules is available on My Forex Funds official website: https://myforexfunds.com. I purchased the $10,000 account and started last week. Nevertheless, we would suggest trying this new prop firm out and experiencing their funding service. InPhase I,you must reach a profit target of 8% within 30 days. All rights reserved. I was looking for a very specific answer : I wanted to know if the 3$/lot commission was the same for mini-lots of 10 000$.I was answered that for a position of 0.01 lot, it is a commission of 0.03$, which makes small accounts relevant. 2023 Proprietary Firms. A trader must close all of his/her trades over the weekend. Im more than happy with this companys customer service , as they are quick and efficient.
My Forex Funds Review - Rules, Pros & Cons - Michael Diamond Financial Offer 3 different account types. After the initial payment, it appears that you can request biweekly payments if you so choose. Some trading strategies may not give you an entry 3 times a week! This removes a lot of the psychological effects and stress that traders experience when attempting a prop firm challenge. My Forex Funds was started in 2020 and have grown rapidly to over 4000 traders trading their capital. Account cancellation will occur for repeated offences. We can help traders to find the prop firms that meet their needs. Even though theyre a relatively new prop firm, as long as you can follow the risk parameters and follow your trading plan, you can do really well with these guys. Challenge Difficulty: 4.5 Profit Share: 4.0 Educational Resources: 2.5
I passed the 1st out of 2 of the evaluation phase and I am starting . Here, prop firms want to test your risk management, so youre expected to make 5% in 60 days. $1,349 // $300,000, Live instant funded accounts up to $50,000
My Forex Funds & FTMO Two-step Comparison - Forex Prop Reviews Chat serviceI had too many questions and they noor answered with clarity which shows that the platform is authentic and cares for its clients. The immediate funding varies from $99 for $2,000 to $2,450 for $50,000 however, the cheapest package is scalable up to at least $3244,000. Hello Ajmal Khan,I have hit the find reviewer button to get your account number and check what happened.Sincerely,Yavuz. The evaluation account is also quite straightforward, since the profit target is a whole 2% less than most other prop firms out there. Dealing in the field where the customer support team has the full and ultimate control over every little detail of the funded trader, the team is expected to be very efficient. In any of the three programmes offered by My Forex Funds, you will be able to trade Forex, and CFDs on indices, commodities such as oil and metals. Emphatic Account You need to meet 20% account growth for the scale up opportunity. This compensation should not be seen as an endorsement or recommendation by us, nor shall it bias our prop firm reviews. High Leverage 1:50-1:500. With the Accelerated Program, in every odd number phase, the scale-up would be 2X and in every even number phase, the scale-up would be 1.5X.
My Forex Funds Review: June 2023 Update - Prop Firm Reviews Finally, the Rapid account is also really easy because you can potentially start earning right away, even if its comparatively low. My Forex Funds offers a unique one-step evaluation, a two-step evaluation, and an instant funding program. I really appreciate your support team.
myForexFunds Review 2022 | Is It Legit or Scam Prop Firm? Profit payouts are set individually for each account type.
Is My Forex Funds good? : r/Forex - Reddit I recommend this prop firm to be the best of all the prop firms that I have encountered. My Forex funds have a big potential to succeed because of their low subscription fees and varieties of profit share structured funding programs to choose from. Having said that, they appear to be a legitimate prop firm that is doing everything correctly, as seen by a large number of positive reviews and posts on social media and YouTube. Last month I got 2nd payout from the Rapid account which was more than the first time. After the first month of trading, you get paid 75% of your profit. Hands down, MFF is the Best Prop Firm Platform! There are three kinds of funding programs with MyForexFunds, Rapid program, Evaluation program, and the Accelerated program.. Suppose, you are trading with the demo account on the phase 1, maintaining every rule and regulation but unfortunately missed meeting the subscribed accounts profit target. You also have access to a wide variey of instruments from Forex pairs, cryptocurrencies, metals, indices, and stocks. My Forex Funds (MFF) is a prop trading firm that provides traders with funding. Available account sizes are $10,000, $20,000, $50,000, $100,000, and $200,000. While in Accelerated accounts, withdrawals are allowed on a weekly basis, as long as your account is more than 5 business days old. My Forex Funds was established in 2020 as a prop trading firm based in Toronto, Canada. After choosing your programme, you can immediately access your funded trader accounts. The biggest factor in continuing my partnership with mff. Another trading behaviour rule states that trading activities that take advantage of Meta Trader inefficiencies, latency arbitrage, long and short arbitrage, reverse arbitrage, or opposite account trading, will be a violation that will result in account termination. Yes, their spreads are wide. They are always available to help when you need it. Weekly or bi-weekly payouts (depending on account) via bank transfer, cryptocurrencies, Paypal and TrasferWise. Engage in active discussion with the prop firm directly, Discord community, and other prop traders. We are independently owned and the opinions expressed here are our own. Affordable access prices on all programmes, with several options in each programme. The key distinction is in their rules: they only allow market-making Forex trades while providing you substantially larger profit splits than most rivals (which means more money). If you have the skill set, take the plunge.
My Forex Funds Prop Trading Firm - Funded Account challenge In the case of this programme, two types of accounts are offered, Conventional and Emphatic, where the difference between them is determined by the next milestone to increase funding, which increases from 10% to 20% (in the Emphatic account), and the maximum reduction, which increases from 5% to 10%. You must register and pay a small fee to get your account information. The accelerated account is obviously really easy: just fork over the money and My Forex Funds offers instant funding! After purchasing 4 accounts and getting 2 payouts from Myforexfunds, I'm feeling happy so far. Very Happy with my experience so far. Your email address will not be published. They are constantly monitoring all accounts to make sure the rules are being followed. Phase 1 must be finished within 30 calendar days, and Phase 2 must be finished within 60 calendar days. I found all the answers right before I join the MFF, so its a big plus for any service to win the confidence of the customer even before starts.Allah bless this company Syed Shahbaz Ali.
My Forex Funds daily drawdown rule, simply explained - YouTube It is difficult to sort out all of the trading parameters with this prop firm in detail. We require a variety of services, including a trustworthy trading account and capital, but there is no assurance that the prop firm will provide what we require or even allow Forex traders to trade as they see fit. Moreover, I was very proud and satisfied to get my first payment from this prop which was the hardest for me because I failed 2 evaluation accounts before switching to the Rapid account. 7 Payouts & Commissions. Assured funding up to $1,350,000 Founded in July 2020, MyForexFunds is operated from Toronto, Canada and considered as a fast-growing proprietary firm. Spreads are good too and plenty pairs to trade. My Forex Funds is similar to other of the industrys leading prop firms, except that they provide Accelerated accounts, which provide instant funding on day one.
Read Customer Service Reviews of myforexfunds.com - Trustpilot You'll also find a number of helpful video guides here. The My Forex Funds Evaluation account is designed for semi-professional traders who need more capital to move to the next level. You also cannot make a withdrawal that decreases the account by more than 12% during a single pay period. The Rapid account enables traders to benefit from bonuses right away while utilising forex and CFD trading platforms and all associated risk management features. There are similarities between My Forex Funds trading experience and those provided by FTMO; however, there are also some notable differences. Aug 5, 2021 #3 Hello, i just paid $979 to pass the Evaluation Standard at My Forex Funds. My Forex Funds is a fairly new prop firm that only got its start in 2020, but theyve taken the prop firm industry by storm thanks to their generous profit split, wide variety of ways for obtaining forex capital, and comparatively reasonable trading objectives. However, two areas that people have had complaints with are: My Forex Funds is a frontrunner to be the best prop firm. All Rights Reserved, No Targets You get paid 12% of the profits you earn in your account, Profit split of up to 90% of profits generated (VIP account), Scaling programme that can take you to a funded trading account of up to $2,020,000, Funded accounts tailored for beginners, intermediate, and professional traders, You can receive a 100% refund of the registration fee for accessing the accounts on successful completion of the evaluation process, Affordable access prices on all programmes, with several options in each programme, Weekend trades are allowed on the Evaluation account, You can make profits without evaluation process if you pay for the Accelerated program, Weekly or bi-weekly payouts (depending on account) via bank transfer, cryptocurrencies, Paypal and TrasferWise, With an Accelerated account, you can have instant access to up to $50,000 of trading capital, Achievable target with Evaluation accounts, its 8% split to pass the first stage and then just 5% to move on to a funded account, Strict trading rules when compared to some other prop trading firms, Scaling and other features can be complicated to understand, Drawdown is based on your equity not your account balance, which may confuse some traders, Lack of educational resources to assist beginners, Overwhelming choice of accounts and conditions to wrap your head around, Prove your experience with an Evaluation Account, Get started immediately with Accelerated Funding, $50 in profit on a 5k, 10k, and 20k account, Leverage for the Evaluation program on all account sizes is 1:100, Leverage for the Rapid program on all account sizes is 1:500, However, for Cryptocurrency, it is 1:5 for all programs.
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