MyForexFunds Funding Available
They offer three types of accounts depending on your level of experience. A $100,000 live account with very strict rules and a novice forex trader is a recipe for disaster.
This account is designed for traders who are just starting to achieve consistency or have not been trading for a while. A rapid account allows you to trade demo accounts for the company.
These accounts have very flexible rules. There is a daily maximum drawdown limit of 5% and a maximum drawdown of 12. You must trade at least three times per week and leverage ranges between 1:50-1,500. You don't have profit targets, which is the best part! However, the demo account you create will pay 12% to your live account.
You can trade on a demo account and practice trading while they pay real profits!
Next, we have the evaluation accounts. This account can be funded from $10,000 to $200,000. This account is for experienced traders who are profitable in the financial markets. A one-time fee will be charged for a 2-step challenge. It is very similar to FTMOOpens, a new tab. Or 5%ersOpens within a new tab. For example, it is slightly less expensive!
If you complete the industry-leading challenge, your profit split could be as high as 85%. You must trade for at least ten days in the 30-day challenge and the 60-day stage 2 challenge. A maximum daily drawdown is 5%, and an overall maximum drawdown is 12%. Therefore, you can expect a profit target of 8% for stage 1 and 5% for stage 2. This stage is the easiest in the industry. These accounts have leverage of 1:100.
MyForexFunds' accelerated accounts are my favorite funding option. Instant funding is available with no hassle, no verification, and monthly fees! Instant access to trading capital of $2000 to $50,000 will be available. This is more costly than completing a challenge course, as the company takes on more risk by checking your performance first. That is why the $50,000 account is so expensive.
There are two types of accounts available: empathic and conventional. The accounts are identical, except that empathic accounts doubled their perimeters. The next milestone for increasing funding is 20% instead of 10%. In addition, the maximum drawdown is 10%, not 5%, and the initial fee has doubled.
Instant funding opens in a new tab. This is my favorite way to get trading funding quickly. This will allow you to save months of demo trading and help you overcome any challenges. However, it opens in a new window. Do not offer instant funding and make it take up to 2 months for you to make a single penny.