My Forex Funds is interested in assisting and helping traders grow, so the firm grows together with them. They strive to provide programs, services, and information to assist their traders on their journey.
- Over 12k Trustpilot reviews with an excellent score of 4.9/5
- Direct funded account sizes from $2,000 to $50,000
- Trader receives account fees back +12% on the first payout
- 2% and 4% phase bonuses from evaluation stages
- Unlimited evaluation free retries
- Low commission costs
- Low fees
- Leverage 1:50 - 1:500
- Three different account types
- Profit share up to 90%
- Slow Livechat support because of the queue
- Slippage issues
Traders at My Forex Funds are encouraged to be successful in their careers. The main priority that they expect from their clients is that they are disciplined individuals who properly manage risk and focus on long-term consistency. They allow them to earn high profits by managing up to $2,020,000 capital while taking home profit splits up to 90%. They can achieve this by trading forex pairs, commodities, indices, and cryptocurrencies.
Who are My Forex Funds?
My Forex Funds is a proprietary trading firm founded in July 2020 whose CEO is Murtuza Kazmi. They have its offices located in Toronto, Canada. They offer undercapitalized traders three different account types to get funded with and a chance to work with up to $2,020,000 capital while earning up to 90% profit splits. They provide themselves with their own broker named Traders Global Group, whose servers are located in Frankfurt, Germany.
Their headquarters are located in a region of Canada called Great Lakes.
Who is the CEO of My Forex Funds?
Murtuza Kazmi is the CEO of My Forex Funds who is 37 years old and who lives in Toronto, Canada. His priorities are mostly spending time with his wife and kids while he also enjoys hobbies like watching Netflix (The Office) and playing sports (American football, Badminton, and Cricket).
He started working at My Forex Funds six months before they officially went live to the public in July of 2020. His position as previously mentioned is the Chairman and CEO who works with other great leaders to steer their funded trader programs to success.
Murtuza Kazmi enjoys working at My Forex Funds since they have so many members from different countries and cultures worldwide allowing him to learn new things on a daily basis. They prioritize hiring across all geographies to ensure that their image fits the image of their traders. They have many traders from all across the world which means they also hire staff from those countries so they have them covered in their own language and culture.
Video review
Funding program options
My Forex Funds offers its traders three different programs to choose from:
- Rapid program accounts
- Evaluation program accounts
- Accelerated program accounts
Rapid program accounts
My Forex Funds rapid program account aims to acquire knowledge about a trader’s capabilities in the three-month period before giving them access to trade with their live funds. A significant advantage of the rapid program account is the 12% bonus profit payouts you receive despite trading in a demo environment.
Rapid program accounts have no profit targets. You get paid 12% of the profits that you earn in your account while trading with 1:500 leverage. Your main focus should be following the 5% maximum daily loss and 12% maximum loss rules. Despite that, the only other requirement you must follow is the three minimum trading days per week.
Rapid program accounts can choose from consistency enabled or no consistency accounts.
No consistency accounts only have to follow the general rules of minimum trading days, maximum daily, and maximum loss.
Despite the rules mentioned for no consistency accounts, consistency enabled accounts must also consider the average number of trades taken per day and average lot sizes used. You can see an example in the table below:
Your account will only get suspended if a trader consistently falls outside his trading pattern. A one-time violation will only result in not getting paid for the singular payment period.
Upon being successful in your three-month demo period and receiving a funded account, you will start receiving a profit split of 50% in the first month. The profit split increases to 65% for the second month, while in months three and onward the profit split becomes 80%. In addition, you also receive a 100% refund of your initial paid fee with your first withdrawal from the funded account.
Rapid program accounts have no available scaling plan.
Trading instruments for the rapid program accounts are forex pairs, commodities, indices, and cryptocurrencies.
Rapid account program rules
- Maximum daily loss is the maximum loss a trader can reach on a daily basis before the account is violated. All account sizes have a maximum daily loss of 5%.
- Maximum loss is the maximum loss a trader can reach overall before the account is violated. All account sizes have a maximum daily loss of 12%.
- Minimum trading days is the minimum period which you are required to trade for before you can complete an evaluation phase, or request a withdrawal. Minimum trading days requirements are a minimum of 3 days per week.
- Maximum trading days are the maximum period in which you are required to hit a specific profit target or withdrawal target. Maximum trading days is a period of 90 days.
- The consistency rule is a rule that requires traders to have consistent position sizes, risk management, losses, gains, etc… Meaning that the characteristics of the account results should not differentiate drastically. However, you can choose if you want to go for consistency or non-consistency rule account.
Evaluation program accounts
My Forex Funds evaluation program account aims to identify serious, and talented traders, who are rewarded for their consistency in the two-phase evaluation period. The evaluation program account allows you to trade with 1:100 leverage.
Evaluation phase one requires a trader to reach a profit target of 8% while not surpassing their 5% maximum daily loss or 12% maximum loss rules. You are required to hit your profit target in 30 calendar days from the day you place your first position on your evaluation account. You are also required to trade a minimum of five trading days in order to proceed to phase two.
Evaluation phase two requires a trader to reach a profit target of 5% while not surpassing their 5% maximum daily loss or 12% maximum loss rules. You are required to hit your profit target in 60 calendar days from the day you place your first position on your evaluation account. You are also required to trade a minimum of five trading days in order to proceed to a funded account. After completing phase two, you are also awarded 2% of the profit made in phase one evaluation.
By completing both evaluation phases, you are awarded a funded account where you should consider the minimum withdrawal policy. You are only required to respect the 5% maximum daily loss and 12% maximum loss rules. Your first payout is 30 calendar days from the day you place your first position on your funded account. In this time period, you are required to trade a minimum of 10 calendar days. Your first payout consists of 75% of the profit made on the funded account, with an addition of 4% profit made in phase two evaluation and a 112% refund of your initial paid fee. After successfully receiving your first payout, your payouts become bi-weekly. Your profit split is also increased to 80% in month two and to 85% for month three and onward.
Minimum withdrawal policy of Evaluation program accounts:
- For account sizes $5k, $10k, and $20k, the required profit is $50.
- For account sizes $50k and $1000k, the required profit is $100.
- For account sizes $200k and $300k, the required profit is $150.
VIP Reward program
The VIP Reward program is a brand-new feature that will award consistent traders who do the work to obtain success. It has specific requirements that a trader is required to fulfill to be eligible.
VIP Reward program requirements:
- Received a minimum of 5 payouts
- Trading for a minimum of 3 months
- Consistent trading style through the 3 month period (all-in or high-risk trading style doesn’t qualify an individual)
- No account violations during the 3 month period
VIP Reward program benefits:
- 90% profit split
- Ability to withdraw at any time, with no restrictions (the payout request button will always be active if you are in profit)
- Semi-automated payout confirmation (money in your Deel account within 10 hours)
- Other benefits that may occasionally appear in your mailbox
Evaluation program account scaling plan
Evaluation program accounts also have a scaling plan. You are required to reach a profit target of 10% or more within a four-month period where two out of the four months were profitable. You will receive an account increase of 30% of the original account balance.
Example:
After 4 months: If you have a $200,000 account, your account balance will increase to $260,000.
After next 4 months: Balance of $260,000 increases to $320,000.
After next 4 months: Balance of $320,000 increases to $380,000.
And so on…
Trading instruments for the evaluation program accounts are forex pairs, commodities, indices, and cryptocurrencies.
Evaluation program account rules
- Profit target is a specific percentage of profit that a trader is required to obtain before they can complete an evaluation phase, withdraw profits, or scale their account. Phase 1 profit target is 8% while phase 2 has a profit target of 5%. Funded accounts require traders to respect the minimum withdrawal policy.
- Maximum daily loss is the maximum loss a trader can reach on a daily basis before the account is violated. All account sizes have a maximum daily loss of 5%.
- Maximum loss is the maximum loss a trader can reach overall before the account is violated. All account sizes have a maximum loss of 12%.
- Minimum trading days is the minimum period which you are required to trade for before you can complete an evaluation phase, or request a withdrawal. Both phases have a 5 minimum trading day requirement. However, on a funded account, you are required to trade a minimum of 10 trading days before being eligible for a payout.
- Maximum trading days are the maximum period in which you are required to hit a specific profit target or withdrawal target. Phase 1 has a maximum of 30 trading days period while phase 2 has a maximum of 60 trading days period.
Accelerated program accounts
The last option My Forex Funds are offering is an Accelerated account program which has the following two options to choose from:
- Conventional
- Emphatic
Accelerated program accounts have no maximum daily loss rule, only a maximum loss rule. There are also no time limitations, lot size restrictions, or consistency rules to follow. Another positive feature accelerated account programs have is that there are no profit targets required to be eligible for weekly payouts.
Conventional accelerated program accounts
Conventional accelerated program account allows you to skip the evaluation period and jump directly into trading a funded account and earning profit splits. You are awarded 50% profit splits based on the profit you make while trading with 1:50 leverage.
You can see the scaling plan for the conventional model below:
| Account Size | Phase 1 | Phase 2 | Phase 3 | Phase 4 | Phase 5 | Phase 6 | Phase 7 | Phase 8 | Phase 9 |
|---|---|---|---|---|---|---|---|---|---|
| $2,000 | $4,000 | $6,000 | $12,000 | $18,000 | $36,000 | $54,000 | $108,000 | $162,000 | $324,000 |
| $5,000 | $10,000 | $15,000 | $30,000 | $45,000 | $90,000 | $135,000 | $270,000 | $405,000 | – |
| $10,000 | $20,000 | $30,000 | $60,000 | $90,000 | $180,000 | $270,000 | $540,000 | – | – |
| $20,000 | $40,000 | $60,000 | $120,000 | $180,000 | $360,000 | $540,000 | $108,000 | – | – |
| $50,000 | $100,000 | $150,000 | $300,000 | $450,000 | $900,000 | $1,350,000 | – | – | – |
Conventional accelerated program accounts also have a scaling plan which you can see in the spreadsheet above. To become eligible to scale your account the only requirement is to reach a profit target of 10%. You are eligible to scale your account once every pay period. Another positive feature you should consider is that your withdrawals won’t affect your account from scaling up. Your account will be eligible for scaling when your total profits reach the 10% profit target.
Example:
The profit target for this account type is 10%.
Week 1: You gain 4% and withdraw 50% of your profits.
Week 2: You gain 7% and withdraw 50% of your profits.
Your total profits have reached 11% which makes you eligible for a scale-up since you have reached the 10% profit target.
Emphatic accelerated program accounts
Emphatic accelerated program account allows you to skip the evaluation period and jump directly into trading a funded account and earning profit splits. You are awarded 50% profit splits based on the profit you make while trading with 1:100 leverage.
You can see the scaling plan for the emphatic model below:
| Account Size | Phase 1 | Phase 2 | Phase 3 | Phase 4 | Phase 5 | Phase 6 | Phase 7 | Phase 8 | Phase 9 | Phase 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| $2,000 | $4,000 | $6,000 | $12,000 | $18,000 | $36,000 | $54,000 | $108,000 | $162,000 | $324,000 | $486,000 |
| $5,000 | $10,000 | $15,000 | $30,000 | $45,000 | $90,000 | $135,000 | $270,000 | $405,000 | $810,000 | |
| $10,000 | $20,000 | $30,000 | $60,000 | $90,000 | $180,000 | $270,000 | $540,000 | $810,000 | ||
| $20,000 | $40,000 | $60,000 | $120,000 | $180,000 | $360,000 | $540,000 | $1,080,000 | $1,620,000 | ||
| $50,000 | $100,000 | $150,000 | $300,000 | $450,000 | $900,000 | $1,350,000 | $2,020,000 |
Emphatic accelerated program accounts also have a scaling plan which you can see in the spreadsheet above. To become eligible to scale your account the only requirement is to reach a profit target of 20%. You are eligible to scale your account once every pay period. Another positive feature you should consider is that your withdrawals won’t affect your account from scaling up. Your account will be eligible for scaling when your total profits reach the 20% profit target.
Example:
The profit target for this account type is 20%.
Week 1: You gain 8% and withdraw 50% of your profits.
Week 2: You gain 14% and withdraw 50% of your profits.
Your total profits have reached 22% which makes you eligible for a scale-up since you have reached the 20% profit target.
Trading instruments for the accelerated program accounts are forex pairs, commodities, indices, and cryptocurrencies.
Accelerated program account rules
- Maximum loss is the maximum loss a trader can reach overall before the account is violated. All account sizes have a maximum loss of 5%.
- No EAs allowed means that traders are not allowed to use any type of EA services. Only expert advisors for copying purposes are allowed.
- No weekend holding means that traders are not allowed to hold open positions during the weekends.
What makes My Forex Funds different from other prop firms?
My Forex Funds differs from most industry-leading prop firms due to offering three different funding programs: Rapid, Evaluation, and Accelerated. They also have almost no restrictions on your trading style, you can trade during news, hold trades overnight, and during the weekends (except on accelerated programs).
Compared to other prop firms, My Forex Funds’ rapid program is completely unique since it is a three-month period in which a trader is awarded a 12% profit split despite being in a demo environment. The leverage offered is 1:500 while only being required to follow the three minimum trading days per week, 5% maximum daily loss, and 12% maximum loss rules. Another difference of the rapid program from other programs is that traders are allowed to choose from consistency enabled or no consistency accounts. However, rapid programs don’t have a scaling plan.
My Forex Funds evaluation program, on the other hand, is a two-phase evaluation program that requires traders to complete two phases before being eligible for payouts. The profit target is 8% in phase one and 5% in phase two, with a 5% maximum daily and 12% maximum loss rules. You are also required to trade for a minimum of 5 days in each phase before becoming funded. Evaluation programs also have a scaling plan. Compared to other industry-leading prop firms, they have relatively low profit targets and minimum trading days.
Example of comparison between My Forex Funds & FTMO:
| Trading objectives | My Forex Funds | FTMO |
|---|---|---|
| Phase 1 profit target | 8% | 10% |
| Phase 2 profit target | 5% | 5% |
| Maximum daily loss | 5% | 5% |
| Maximum loss | 12% | 10% |
| Minimum trading days | 5 calendar days | 10 calendar days |
| Profit split | 75% up to 90% | 80% up to 90% |
Example of comparison between My Forex Funds & True Forex Funds:
| Trading objectives | My Forex Funds | True Forex Funds |
|---|---|---|
| Phase 1 profit target | 8% | 8% |
| Phase 2 profit target | 5% | 5% |
| Maximum daily loss | 5% | 5% |
| Maximum loss | 12% | 10% |
| Minimum trading days | 5 calendar days | 5 calendar days |
| Profit split | 75% up to 90% | 80% |
Example of comparison between My Forex Funds & The Funded Trader:
| Trading objectives | My Forex Funds | The Funded Trader |
|---|---|---|
| Phase 1 profit target | 8% | 10% |
| Phase 2 profit target | 5% | 5% |
| Maximum daily loss | 5% | 6% |
| Maximum loss | 12% | 12% |
| Minimum trading days | 5 calendar days | 5 calendar days |
| Profit split | 75% up to 90% | 80% up to 90% |
Compared to other prop firms, My Forex Funds also have accelerated programs which are direct funding programs. You can choose between conventional and emphatic accelerated programs that have no maximum daily loss rule, only a maximum loss rule. You also have no time limitations, lot size restrictions, or consistency rules to follow. Another positive feature is that there are no profit targets required to be eligible for weekly profit splits of 50%. Accelerated programs also have a scaling plan.
In conclusion, My Forex Funds is different from other industry-leading prop firms by offering three different funding programs. In addition, they also offer traders relaxed trading rules which makes them a great choice for any trader, no matter the experience.
Is getting My Forex Funds capital realistic?
It’s essential to see how realistic the trading requirements are when looking at prop firms that best suit your forex trading style. For example, a company offering a high % profit split on a highly funded account sounds great, but if they expect high % gains per month with low % maximum drawdowns, your chances of success become close to zero.
Receiving capital from rapid programs is realistic, especially since you have no profit targets, and you start earning 12% profit splits from the three-month demo environment. You also have relaxed trading rules with a chance to choose between consistency enabled or no consistency accounts.
Receiving capital from evaluation programs is realistic mostly since they have relatively low profit targets (8% in phase one and 5% in phase two) with relatively high maximum loss rules (5% maximum daily and 12% maximum loss).
Receiving capital from accelerated programs is also realistic since they are direct funding programs where you can start earning from the start. You have no profit targets to reach while being able to request your withdrawal on a weekly basis.
After considering all of that, My Forex Funds is an excellent choice to get funded since you have three different funding programs you can choose from that have realistic trading objectives to follow and conditions to receive payouts.
Payment proof
My Forex Funds is a proprietary trading firm founded by Anurag Jaiswal in July 2020. They offer bi-weekly or monthly payouts depending on the program account you choose.
You can see proof of payment on their Discord channel.
You can also see two examples in the pictures below:
Which broker do My Forex Funds use?
My Forex Funds has its brokers named Traders Global Group as their trading server. It is provided by an institutional fintech company that provides them with liquidity. They do not require regulation since they are a proprietary trading firm that uses their company’s money for live account funding of their traders.
As for trading platforms, they allow you to trade on the following:
Trading instruments
My Forex Funds offers a large variety of trading instruments. You are allowed to trade forex pairs, commodities, indices, and cryptocurrencies.
| FOREX: | AUDCAD | AUDCHF | AUDJPY | AUDNZD | AUDUSD |
| CADCHF | CADJPY | CHFJPY | EURAUD | EURCAD | EURCHF |
| EURGBP | EURJPY | EURNZD | EURUSD | GBPAUD | GBPCAD |
| GBPCHF | GBPJPY | GBPNZD | GBPUSD | NZDCAD | NZDCHF |
| NZDJPY | NZDUSD | USDCAD | USDCHF | USDJPY | EURCZK |
| EURNOK | EURSEK | EURTRY | ERUZAR | GAUTRY | GAUUSD |
| GBPNOK | GBPSEK | GBPSGD | GBPTRY | SGDJPY | USDCZK |
| USDDKK | USDHKD | USDMXN | USDNOK | USDSEK | USDTRY |
| USDZAR |
| COMMODITIES: | XAUUSD | XAGUSD | XPDUSD | XPTUSD |
| INDICES: | AUS200 | ESP35 | FRA40 | GER30 | HK50 |
| JPY225 | NAS100 | SPX500 | UK100 | UKOil | US30 |
| USOil |
| CRYPTO: | BTCUSD | ETHUSD | LTCUSD | DSHUSD |
Trading fees
Trading commission:
| Assets | Fee terms |
|---|---|
| FOREX | 3 USD / LOT |
| COMMODITIES | 3 USD / LOT |
| INDICES | 0 USD / LOT |
| CRYPTO | 0 USD / LOT |
Spread:
In order to check the live spreads login to the trading account below:
| Platform | Server | Login number | Password | Download platform |
|---|---|---|---|---|
Education & Support for traders
My Forex Funds does not provide educational content. You can find some posts on their blog about some basics that you can consider going through. You can check out their blog by clicking here.
They also have their thread on ForexFactory, which you can access by clicking here.
There is also another thread named ‘’PROP FIRM HUB’’ on Forex Factory that they often get mentioned in, made by MasterrMind. You can check it out by clicking here.
Traders’ comments about My Forex Funds
My Forex Funds has excellent feedback from their reviews.
On Trustpilot, they have a large variety of their community commenting and giving positive feedback, with an excellent score of 4.9/5 out of 12,191 reviews. They also have a fast and reliable support team that will provide you with all the necessary information you require from them or if you are unsure of anything.
A vast majority of their community praises their customer support and their efficiency.
Another thing that gets mentioned a lot is that they provide live accounts and not demo versions from which trades get copied.
Social media statistics
My Forex Funds can also be found on social media.
They have a:
- Facebook page with 22k followers,
- Twitter account with 2,091 followers, and
- Instagram account with 92.9k followers.
They also have their Discord channel with over 144,000 members, where you can ask for support or just community with the rest of their community.
Support
My Forex Funds has a FAQ page to find your required information.
The support team is available on their social media, or you can directly contact them on their email support@myforexfunds.com.
You can also contact them with your message on their website by clicking here.
Registration process
1. Trading platform selection
2. Sign-up for My Forex Funds
3. Receive the order confirmation
4. Completed registration
5. Receive your login credentials (instant)
6. User dashboard
7. Phase 1 completed
8. Receive your login credentials for phase 2 (after your dashboard refreshes and you upgrade your account)
Conclusion
In conclusion, My Forex Funds is a legitimate proprietary trading firm that offers traders a chance to choose between three different funding programs: Rapid, Evaluation, and Accelerated.
Rapid programs aim to acquire knowledge about a trader’s capabilities in the three-month period before giving them access to trade with their live funds. A significant advantage of the rapid program account is the 12% bonus profit payouts you receive despite trading in a demo environment. With rapid programs, you can earn up to 80% profit splits.
Evaluation programs are an industry-standard two-phase evaluation challenge that requires the completion of two phases before becoming funded and being eligible to earn profit splits. My Forex Funds require traders to reach profit targets of 8% in phase one and 5% in phase two before becoming funded. These are realistic trading objectives considering you have a 5% maximum daily and 12% maximum loss rules to follow. With evaluation programs, you can earn up to 90% profit splits while also being able to scale your accounts.
Accelerated programs are actually direct funding programs that allow you to skip the evaluation period and jump directly into trading a funded account and earning weekly profit splits. There are also no time limitations, lot size restrictions, or consistency rules to follow. With accelerated programs, you can earn 50% profit splits while also being able to scale your accounts.
I would recommend My Forex Funds to any trader, no matter the experience. Beginners can choose to start with rapid programs, while more experienced traders can choose evaluation programs and go through a two-phase evaluation or accelerated programs and start earning on a weekly basis. After considering everything My Forex Funds have to offer, they are for sure one of the industry-leading prop firms.
This review about My Forex Funds was lastly updated on 24.05.2023 at 09:07 (CE(S)T).
So, what do you think about the layout of the Proprietary Trading firm? Do My Forex Funds have the instruments that you want to trade?
Let us know if you enjoyed our My Forex Funds Proprietary Trading firm review!
My Forex Funds Review (discount code: forexpropreviews5) Details
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Great review! I recomend this prop company
Thank you for discount code
Just received my payout + refund 112% 🙂 Recommend!
Their support is very slow, but overall the company is good
Number 1 prop company! 😀
No. 1 prop forex firm!
Wow discount code works! Thanks 😀
Amazing prop firm!
Low fees and easy evalution program. One of the best prop firm
Woow discount code works, thank you so much!
Amazing video review, thanks for a deep review. Will try this prop firm soon
how much do myforexfund sell their trading accounts ranging from $50k to $100k?
Feel free to check all prices here: https://myforexfunds.com/?wpam_id=33760
Best prop firm ever!
Best prop firm out there! Their direct funding scaling plan is the best!
Applying for a reset after violating the rules in the evaluation live,do I start again from the challenge??
If you violate the rules on a funded account and apply for a discounted reset, you will have to complete the 2-step evaluation process once more.
I encountered a strange problem with this company, as I paid $84 to pass the 10,000 test with my bank card, and I passed the test successfully, but I made mistakes and exceeded the limit for the daily loss, and my account was suspended, and I took the test amount again, which is 76 A dollar with my bank card to try to pass the test again, and I failed because my circumstances were difficult because my daughter was sick, and the third time, which was last Monday, I tried to pay the amount of 76 dollars to pass the test again, but I encountered a problem that the bank card was rejected and I contacted the Department of Support and I was told that I try to pay without deducting any amount of $ 84 and that the site has a problem, even though this company says that you have the right to pay the amount of $ 76 instead of $ 84 in case you fail the test, and here was the surprise as my friend opened an account to choose a test $10,000 and I lent him my bank card which I tried to pay in advance and it was accepted into his account this time.
Summary: This company only accepts the discount the first time you want to take the test, and then refuses any bank card you want to take the test with with the discount.
I suggest you try another payment method or contact My Forex Funds support team directly, so they help you out with your problem.
One of the greatest if not the greatest prop firms at the moment.
Best review, thx for update
Best prop firm for sure at the moment
Number 1! Thanks you for discount!
I love the direct funding program… The scaling plan is really good, thank you for the review
They are number 1 for sure right now, and the payouts that they make on a weekly basis are insane!
This is a dodgy prop firm
Stick to true forex funds or FTMO instead
My Forex Funds is a trustworthy and reliable prop firm. They are one of the if not the biggest prop firms in the industry at the moment.
Best prop firm ever, I just hope they would improve their dashboard, then they would be perfect
Not sure if the Con of “Slow Livechat support because of the queue” is really applicable. I have bombarded them with clever (yea right) but also mundane queries over the last week and they have a queue list which helps a lot. The longest was No 11 in the queue list, but got answered within 10 min which is very acceptable at the busiest time. Compared to other support of other Prop Firms? Superb, which I also pounded with genius level questions (not).
Not sure if at the time of the above review it was not good, but definitely not bad enough to call it a Con. For the conditions and options from Rapid to Accelerated accounts? 4.7 out of 5. I believe they have an edge above all for choice, with the exception of the Daily DD rule for evaluation account which is based on highest equity/balance which can be tricky, but I can live with it. Also they do not have a public login to their broker platform to test spreads/slippage, but they provided me with an idea where the spreads are +/- (that could definatly be a con as I have live spreads of most others).
But I suggest the Rapid route if you can bear it for 3 months, you will learn all you need to learn how to trade for a prop firm, and then trade for all other/any other Prop Firm as well once passed earning the 10% stage. Every beginner should start there!! For Pros, the Accelerated Route for sure! For FTMO like Evaluation, they have it as well, bearing in mind should understand the different calc for Daily DD, which I would recommend to change as per 90% of all other Prop Firms. Good Luck All!
Kindly note that the only reason ”Slow Livechat support because of the queue” is mentioned under Cons is since, during the busiest times of the day, there can be a queue of well over 60, sometimes even 80.
This VIP reward program will be incredible for individuals that are consistent…
Hoping that I can become funded with this prop firm in the future…
rapid program looks interesting for me
Wow 13% black friday discount
I love the fact that they added 12 additional days for phase one if you purchase a challenge in December. These 12 days are very valuable in my opinion.
love this firm
Thank you FPR team for such detailed review on MFF, imo MFF really is one of the legacy prop firms, most stable and well established
this company is a scam!
after trading for this company and becoming a certified trader they had my account suspended just because me and my friend entered the same trade at the same time as it is mentioned in the use of expert advisor part i violated the copy trade rule # although me and my friend we are a professional trading team that only use our own analysis to trade the market and we never even used any ea, although in our case if the two accounts where to be under the same name that wouldnt have been any problem after contacting the support about this issue they didnt give any help only stating that we broke the rules not only they suspended our accounts but also they took our profit totaling 40,000$ any reputable company would have looked our case in a more empathetic way rather than answering us like a robot that only know how to reply based on whats written in their script.
Hello, we apologize for your negative experience. Kindly note that my Forex Funds is currently one of the leading proprietary trading firms in the industry. They are a trustworthy and reliable proprietary trading firm. That being said, you and your friend breached your contract agreements by copying trades from each other, which is prohibited.
Firstly, when it comes to their trading beliefs, they follow the following statement: ”Prop trading is about your ability to trade and not about using other people’s ability to trade.” That being said, they don’t allow any type of group trading, which is clearly mentioned in their terms & conditions, as well as the trader agreement that you signed once you became funded with My Forex Funds.
In addition, under their rules, you can also find rule #17: Clarification on the use of third-party software/vendors for trading, and it says the following:
”As our original rule suggests, it is vital that all trading activity with MyForexFunds is your own. This means that every decision made, every trade made comes from your creation and not the hands of others. Since this rule has been causing requirements for clarity, we have decided to include this rule as an addition to make sure there are no grey areas.
Anyone using any vendor that promotes the passing of a prop firm evaluation or challenge will be banned. These vendors generally do not work, and their usage has resulted in many problems with our liquidity providers and their customers who have failed using these services affiliating us with them in some way. Therefore, any third-party vendor selling any service, whether its account management or an EA, that promotes usage on any prop firm, is forbidden.
The market does not function in a manner where every user can trade the same and it remains efficient. Having pending orders bigger than the market does nothing but ruin the prop firm opportunity for everyone else and so use of such services is prohibited.
We are here to provide capital to aspiring traders and we want this opportunity to last a long time. We will not allow the actions of a few to ruin the experience for the majority of traders who come to us for funding.”
After considering all of that, it is clear that My Forex Funds isn’t a scam company, and the reasoning for the termination of you and your friend’s account is that you both violated their terms & conditions, which means that they aren’t required to grant you your profits, despite the fact that you were profitable on your funded accounts. As previously mentioned, we apologize for the negative experience. However, the reasoning behind is was your lack of due diligence before joining My Forex Funds. You clearly violated their terms & conditions, and with that said, you are at fault and not My Forex Funds.
Trusted company, good support , I like MFF
just on their payouts they have some malfunction with automated “Payout request” button on dashboard, sometimes it doesn’t get active on correct payout date and you should request manually for payout, and sometimes it is activated on wrong date,
but I have received all of payouts keeping the correct date myself for the payout correct date
Thank you for your comment. Glad that you are enjoying success while working with My Forex Funds! Keep up the good work!
Although they are not accepting Pakistani Traders but working with them was a great experience.