Are you a beginner or an experienced trader eager to dive into the forex market? The challenge often is finding the right prop trading firm. With many out there promising funds and success, it’s easy to get lost.
MyForexFunds stands out in this crowded space. Renowned for its innovative funding programs like the Evaluation Program and Rapid Account, it caters to both novice and expert traders. But is it the right fit for you?
In this MyForexFunds review, we’ll cut through the noise and provide a clear overview of what MyForexFunds offers. We’ll cover their popular programs, relaxed trading rules, diverse account options, and profit-sharing models. Whether you’re just starting out or looking to expand your trading horizons, this review aims to give you a clear picture of MyForexFunds. Let’s get started.
What is MyForexFunds?
MyForexFunds, established by Murtuza Kazmi, is a proprietary trading firm that provides funding programs for forex traders globally.
This firm stands out due to its flexible trading rules, welcoming various trading styles. Although focused on forex, traders are not limited; they can also manage assets like commodities and CFDs on different trading platforms.
With 2,000 new traders joining daily and a solid 300-member support team, MyForexFunds is a major player in the trading world.
MyForexFunds Features
- Profit Split Dynamics for All: At MyForexFunds, profit targets vary, ensuring beginner traders and experienced traders have room to grow. Join the Accelerated Program, and you enjoy a 50% profit split. Opt for the Evaluation Program, and your profit share escalates from 75% to 85% over three weeks. Rapid Account traders, on the other hand, can pocket a cool 12%—and for the prop traders with a VIP edge? A whopping 90%.
- Rapid Funded Accounts: Trading careers get a jumpstart with the Accelerated Program’s instant funding. Bypass the usual evaluation phase found in many proprietary trading firms. Yes, at MyForexFunds, trading requirements prioritize speed and efficiency.
- Diverse Platform Offerings: The forex market’s ever-evolving landscape demands flexibility. MyForexFunds understands. Traders can glide between MetaTrader 4 and MetaTrader 5, two of the most popular trading platforms. Tailor your trading activities with the platform of your choice.
- Discord Community Hub: The vast majority of prop firms overlook the power of community. Not MyForexFunds. Their bustling Discord server nurtures a sense of belonging among its traders. From rookie to pro, everyone can gain wisdom from the firm’s expert minds, share trading strategies, and elevate their trading skills.
- 24/7 Support: In the dynamic world of forex trading, queries can arise at any hour. The customer support service at MyForexFunds stands ready round the clock. Whether it’s technical glitches, trading conditions inquiries, or daily drawdown concerns, the team has your back.
- Trade Your Way: No stifling trading rules here. Whether you’re into news trading, crypto trading, or have a unique forex trading style, MyForexFunds gives you the freedom to strategize without barriers.
Evaluation and Trading Rules
Like they say, “the devil is in the details”, Let’s dive into MyForexFunds Evaluation and trading rules:
Taking Your Time is Crucial: MyForexFunds emphasizes patience. Just as Markus Heitkoetter and Rockwell Trading prioritize coaching and education, MyForexFunds also encourages traders to pace themselves. Those who breeze through the evaluation might face setbacks in live accounts. Solid trading strategies combined with patience are often the key features of successful traders.
Your Trading Behavior Matters: Whether you’re into day trading, swing trades, or long-term commitments, MyForexFunds respects your trading journey. But, they’ve drawn a line: no exploiting Metatrader inefficiencies, like gap trading. If you’re an experienced trader using tactics like latency arbitrage, tread cautiously to avoid account suspension.
What Can You Trade?: From FOREX to commodities like oil and metals, there’s a wide range on offer. For those plugged into the digital age, crypto trading is permitted on weekdays.
Tech-Savvy? Here’s the Deal: Using expert advisers or robots? Cool. But, be sure your trading doesn’t breach platform rules. Third-party expert advisers? Fine, as long as no one else is controlling or trading on your behalf.
Handling Your Account: Once you opt for one of MyForexFunds’ trading programs, expect login details within 24-48 hours. Changing these details is a no-no. Plus, avoid signal bots, trade copiers, or management services. They’re a straight road to account suspension.
Staying Alert: A big part of trading is managing losses. Avoid daily drawdowns of 5% in any of the MyForexFunds evaluation programs. For those in the coaching program or being guided by trading coaches, it’s essential to maintain this discipline.
Taking a Break?: If you’re stepping back, note that 30 days of inactivity flags a breach. Ten days post-breach, without a heads-up to the platform, might result in a permanent suspension.
Outside Software: Keeping things transparent, MyForexFunds insists all trading activity should be your own. Engaging with third-party vendors that promise a pass in prop firm evaluations will likely result in an immediate ban.
Here are the 4 types of programs offered:
- Rapid Account: MyForexFunds provides virtual capital, letting you profit up to 12%. Choices vary from $10K to $100K virtual balances.
- Evaluation Program: Two-step, and meant for those ready to flex their trading skills. Complete both phases, hit profit targets, and you’re on your way to a live-funded account.
- Accelerated Program: Skip the evaluation, dive straight into instant funding. Two types – Conventional and Emphatic, cater to different experience levels of traders.
- VIP Reward Program: This offers perks like 90% profit share and semi-automated payout confirmations. Stick to the rules, and it’s a path to financial freedom.
MyForexFunds Reviews and Ratings
With an overall score of 4.8 out of 5.0 on Trustpilot, MyForexFunds reviews and ratings are some of the best in the prop trading industry. Lets see what users are saying:
Derrick Raynor
A day ago
#TEAMMFF for life!!!
Their customer support is ALWAYS something to brag about in my opinion. Ivan Rodriguez was very patience with me on answering all my questions about becoming VIP! He definitely shared my excitement with me and even told me congratulations. You can’t beat that. I’m always gone be #teamMFF
Date of experience: August 17, 2023
James Wahome Mathenge
17 hours ago
My experience with MFF has been great…
My experience with MFF has been great in all aspects .whether it’s live support ,the Payout really hits your account sooner than most companies I’ve been trading for.
Thank you for your better experience .
Date of experience: August 18, 2023
Lamare G
Funded with MFF no complaints
Funded with MFF no complaints, Great Support, payout on time unlike leveled up society which I had bad experience with, 5 stars here if I could give 10 I would only suggestion would be if you can change minimum trading days to 3 from 5
Date of experience: August 14, 2023
Final Thoughts
Navigating the vast sea of trading platforms can be overwhelming, but MyForexFunds offers a structured and supportive environment that can help both novices and seasoned traders thrive. With an emphasis on education, discipline, and sustainable growth, it stands out as a trusted choice for those looking to venture into the world of trading.
If you’re eager to start on a journey where trading skills are honed, and growth is at the forefront, MyForexFunds might just be your ideal destination. Ready to take the next step? Click here to get started.