MyForexFunds
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MyForexFunds is an established and trusted forex prop firm founded in July 2020. MyForexFunds offers three funding programs to suit the needs of a variety of traders. The firm has gained popularity among traders and is sure to provide a positive trading experience.
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.
Overview
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MT4, MT5
Bitcoin, Visa
Bank Transfer, Bitcoin, Deel, PayPal
$10,000, $20,000, $50,000, $100,000, $200,000
Commodities, Crypto, Forex, Indices
Partnered with a Liquidity Provider who gives Direct Market Access
1:50, 1:100, 1:500
$2,020,000
Pros and Cons
Pros
Cons
Challenges Introduction
My Forex Funds offers its traders three different programs to choose from:
- Rapid program accounts
- Evaluation program accounts
- Accelerated program accounts
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Customer Reviews on Trust Pilot
At first the daily drawdown in evaluation is little confusing. But once get accustomed to this it is a breeze. Generous maximum drawdown. I have many evaluation funded accounts, and a funded accelerated account. Payout is prompt. I have been with this firm for about 4 months now. I have only positive things to say. I started with a $5K evaluation funded account and scaled up to $50K funded evaluation. Going for $100K test soon.
Good day reader, My name is Anthony Philip Njoku... A trader with 10 years of experience on the day of this writing, My experience with myforexfunds is broken down into a single sentence. FUNDING/INVESTMENT MADE EASY FOR A PRO TRADER To learn more on how to trade, search online for: 10x digital lane academy Thank you for your time.
The best forex prop firm to do business with,Very excellent customer support, immediate payout process and 24/7 guideline.I was member of this company for the last 3 months and from my experience I can say it is The best forex prop firm to do business with.
I passed the Evaluation Funded Account and got my first pay out now. I am really satisfied with MFF and looking forward for my next funded challenge here. I requested my payout like 6 Hours ago and received it now. KUDOS and keep going MFF!
Trading Instruments
Forex
Commodities
Indices
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Crypto
Disclosure:
The trading instruments displayed above are examples of what this prop firm offers, and not all instruments may be shown or the correct brokers may be listed.
Trading Fees
Forex
Commodities
Indices
Crypto
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.
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.
Which brokers does 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:
MetaTrader 4
MetaTrader 5
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.
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, which 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.
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