MyForexFunds Trader Funding 2022
My Forex Funds
Providing funding opportunities for new traders and professional funding talent. Use your trading expertise and choose your path to trade MyForexFunds prop firm capital.
MyForexFunds (MFF) provides multiple pathways to funding through their innovative trader-friendly approaches. There ways for Forex traders to receive funding:
- Accelerated - No evaluations necessary. Start trading and receiving profit split weekly. Scale up the account with good performance. No Daily Drawdown, just overall drawdown, and profit goal to unlock bigged funded account.
- Rapid - Low-cost program where you can get profit split right away as you learn about the MyForexFunds prop firm and have a chance to scale up your account for a one-time refundable registration fee.
- Evaluation - more traditional path to prop trading account via evaluation. But here at MyForexFunds with some of the better parameters for a refundable fee. Reach 8% profit target in phase 1 and 5% in phase 2 and receive funding.
MyForexFunds Accelerated Account
Trader program designed for experienced traders who want to skip evaluations and start making money right away. Ambitious new traders forms around the world are welcome to join as well.
Pay a one-time registration fee and start your scalable trading career with the prop firm.
Profit split in instant funded or accelerated accounts is 50%. Withdrawals can be made weekly and are not
Accelerated Conventional MFF Account
Understanding the parameters of MFF funded trader accounts:
Target - Profit Target to get to the next account milestone or scale up.
Assured Funding - Maximum amount of funding you can scale up to with that account.
|Max Assured Funding||$324k||$405k||$540k||$1.08M||$1.35M|
Accelerated Emphatic MyForexFunds Accounts
These are accounts that allow slightly deeper percent drawdown, require higher profit target to scale and offer better scaling opportunities.
Emphatic accounts also offer double the leverage of conventional tier.
|Max Assured Funding||$486k||$810k||$810K||$1.6M||$2M|
Accelerated Account Scale Up
Making profit withdrawals is not counted against the scaling-up process. An excellent way for experienced traders to be able to withdraw profit and scale up their trading account at once. Making 10% six-time could have you managing over a million dollars. Incredible opportunity for experienced traders to turn a one-time fee into a very large funded account.
If you are not ready to jump in into an accelerated program, MyForexFunds has you covered with other trade evaluation options, even where you can get paid while being evaluated.
Rapid Forex Trader Funding with MyForexFunds
A low-cost option that allows traders to earn performance bonuses right away for a refundable fee.
Rapid MFF accounts start at only $99. These accounts do introduce a few extra rules such as daily drawdown and consistency requirements. But you get upped leverage and up 15x in drawdown per fee.
Trade at your own pace, get performance bonuses, and open up further opportunities with MyForexFunds prop firm.
Available Rapid Accounts
All accounts come with a 12% performance bonus, get paid 12% of your profits on either a bi-weekly or monthly basis
All rapid accounts come with 1:500 leverage. 12% performance bonus might not sound like a lot until you realize that traders can get exposure of 1:7500 fee paid to trade capital to draw bonuses from.
Rapid accounts have a one-time fee that is returnable, there are no additional monthly or platform costs.
Traders are required to place at last one trade 3 days a week.
|MFF RAPID||Daily Drawdown||Overall Drawdown||Refundable Fee|
Two options to be making money right away. If you are a patient trader or would like to trade and get used to the platform first. MyForexFunds offers a more traditional path to partnership with the forex funding platform.
MyForexFunds Trader Evaluation
MFF brings a traditional trader evaluation approach with tremendous value. Get up to 24x in drawdown per program fee paid. The evaluation fee is refundable. You also only need 8% and 5% profit targets in two phases to begin the trading journey.
The simple two-phase evaluation process to get you trading live funds with MFF Prop Firm and starting out at a generous 75% profit split and grows into a bi-weekly 85% profit split by this month.
Show you can profit in Phase 1, prove you are not one trade wonder by generating 5% profits in Phase 2 and have access to trader prop firm funds.
MFF evaluation parameters
|Phase 1 Target||$800||$1,600||$4,000||$8,000||$16,000|
|Phase 2 Target||$500||$1,000||$2,500||$5,000||$10,000|
|Refundable Registration Fee||$84||$139||$299||$499||$979|
MFF has top parameters in the industry measured by drawdown per fee and other program rating metrics we use at Online Prop Trading.
Trader evaluation provides you with an amazing opportunity to trade your system at your own pace to secure funding with a generous profit split. No complicated rules or restrictions. While they do encourage you to work on your consistency and risk management, no rules are forcing you to trade a particular way.
I like to see proof of payment when looking at brokers and prop firms. It can be difficult to trust a company that sounds too good to be true if they don't have payment proof from other traders. MyForexFunds has always paid my withdrawals. To request a withdrawal, I call the live support team at the end of each month.
They informed me that their usual payment processor was experiencing delays, but they could wait for 3-5 days or allow me to withdraw crypto instantly. They paid my profits that day, and I chose the crypto withdrawal. I was very impressed by how fast the payment arrived.
MyForexFunds has allowed me to withdraw four times, each paid on time. I reached out to the support team for assistance, and they were very helpful. It worked in 2 stages for bitcoin withdrawals.
Your withdrawal is approved. In the past few months, this stage took, on average, two days.
Your withdrawal is processed. It took about 30-45 minutes to process the withdrawal in my cryptocurrency wallet.
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.
What makes MyForexFunds different from any other Prop Firm?
MyForexFunds is similar to other top-rated prop firmsOpens a new tab FTMO, for instance, is a leading prop firm. The Accelerated account offers instant funding on the same day. Would you please look at my detailed review of trading with FTMO? You'll quickly see that the trading experience, the cost, the profit shares, and even the rules are very similar to this company.
It's not a bad thing to be similar to other top-ranked proprietary funds, especially if your goal is to make a profit trading. For example, let's suppose you trade with FTMO and have $100,000 of funding. The rules of MyForexFunds allow you to set up a trading copy program that opens in a new tab. The $100,000 challenge is now over. Because the rules and conditions are similar, you can double your trading capital quickly and reduce your exposure to one trading firm.
Is it realistic to get MyForexFunds capital?
No matter how shiny and new a prop company may be, it is important to evaluate whether or not the trading objectives and accounts made available make it possible to obtain capital and get capital fast.
MyForexFunds is a great place to get funding for your business
The accelerated accounts provide instant funding with no performance-based challenges or verification.
These rules are extremely flexible, with no daily drawdown limit or a small gain percentage requirement.
The challenges can take a lot of time.
This program is great for those who want to increase their forex trading capital.
This company is the best choice to quickly get funding and have the highest chance of obtaining forex capital. This is the best option for traders who bypass a challenge and get instant funding. It's hard to fault 40,000+ traders!
What brokers do MyForexFunds use?
In many ways, forex prop firms are very different from brokers. They rarely have access to liquidity or the actual market, so they often rely on trusted forex brokers to host funded accounts. This is exactly what MyForexFunds does.
They are currently using FxPigOpens in a new tab. FxPigOpens is available for all trading. I just finished writing an in-depth FxPigOpens review in a new tab. Although they are not the most well-regulated broker in the world, they provide a great trading environment, leverage, and conditions for traders all over the globe. In addition, they offer good spreads, low fees, and it is easy to execute trades with their liquidity.
MyForexFunds Reviews: What are Traders Saying About It?
MyForexFundsOpens a new tab Although it is relatively new in the prop industry, it still has many reviews. When I published my first review of the company, only 20 reviews on TrustpilotOpens a new tab, it now has more than 1200 reviews and is rated Excellent with 4.7/5 stars! This is a huge improvement and shows how quickly this prop company is growing compared to others in the industry opens a new tab.
It has been quite evident that the company's buzz was very strong in the past few months. The company had no reviews when I wrote the article in June 2021. However, in the past few months, there have been hundreds of reviews by traders who use MyForexFunds every month. It is incredible to see.
Trustpilot opens in a new window. And ForexPeaceArmyOpens within a new window. Every day, more forex traders are being paid by the firm. It is amazing to see!
The company is growing at an incredible rate, as I mentioned. As a result, there has been a significant increase in interest and reviews from traders.
Education and Support for Traders
When we look at education, you will see that I believe in learning from other sources and using free online resources. BabypipsOpens in new tab They are a great place to meet new traders and share their knowledge of the forex market.
MyForexFunds will soon offer a trading academy. This will have a lot of educational content. Unfortunately, this academy is not yet available, so I can't critique it. However, I will be updating this section as soon as the academy launches.
Supporting traders is possible via Discord, live chat, and email support, allowing you to reach your query quickly.
It is amazing to see that the monthly trading volume is now at more than 100,000,000,000+. Over the past few months, I have noticed an increase in the quality and quantity of support for traders since I started trading with the company. It has been a lot quicker to get a reply from the team. There is now also a live chat function that can answer small questions.
MyForexFunds began interviewing successful traders who have funded accounts over the past few months. This interview is available in FTMOOpens in another tab. It has been a great way to see traders' progress over the past few months and strategies and tips that you can implement.
Irma was interviewed for this interview. She used the Rapid accounts to trade faster without going through the lengthy challenge process. Irma uses the previous day's highs and lows as her basis for trading, with a 9/10 win rate. Irma stated in an interview that MFF has never missed a withdrawal (as with me), and she can't fault the company for that!
It's a good idea to read the interviews of other tradersOpens in the new tab. To find out if you can learn any tricks or tips.
Bottom Line - Is MyForexFunds legit or just another scam?
MyForexFunds, a legit prop company, is one of the most respected in the industry. Its unique selling point is that it offers an instant-funded trading account. This account is specifically designed for beginners traders.
The accelerated account is my recommendation. It's the fastest way to get large amounts of trading capital without any performance-based challenges for weeks. MyForexFunds has allowed me to withdraw multiple times, as shown in the review. I can confirm that they are legitimate and pay traders.
MFF is a blend of DT4X TraderOpens a new tab. It is one of my favorite prop firms this year. Please share your trading experiences with this company in the comments section.