My Forex Funds PROP Firm REVIEW
Note: I’ve been funded with My Forex Funds from October 2021, no issues on payments so far, except few issues with Rapid Accounts. If you would like to know about other traders and my experience with prop firms Click Here to Join our Telegram Group where we share our opinion and results from different Prop Trading Firms.
My Forex Funds -Forex Prop Firm since 2020 | |
Discount: – 5% OFF |
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*use the coupon code on checkout |
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Value for Money: 10 out of 10 | |
User Experience Score: 9 out of 10 |
My Forex Funds Programs
FUNDING PROGRAMS
Phase 1 Target | 8% |
Phase 2 Target | 5% |
Overall DrawDown | 12% |
Daily DrawDown *Based on Equity |
5% |
Profit Split | 75-85% |
Minimum Trading Days | 5 |
MaxFunding | $600k |
Withdrawals: BI-WEEKLY after first 30 days.
Drawdown is the best on market but be careful here – it is based on % from start of Daily Equity.
Other Funding Models: Instant Funding with Rapid (12% Profit Split bi-weekly with 3 min trading days and extra consistency rules) and Accelerated (50% Profit Split + Growth of account).
PROFIT SPLIT : 12% on Instant Rapid Accounts and 50% on Accelerated Models.
My Forex Funds Pros and Cons
OK – now let’s see what we have so far and if this will be enough for us to make a decision and know what to do next.
PROS:
- Very Good Pricing
- Great Discord community
- Great programs
- Trusted by many traders, 5k+ reviews on trustpilot
- Great support and team will be there to help
- Handle server issues properly.
- Payouts are processed super fast via Deel
- Affordable
CONS:
- Takes 30 days for first payout
- No EAs allowed unless approved by them
- Copy trading only from personal account
- Daily Drawdown is based on Starting Equity of the day, so if you have open positions overnight need to be carefull with that
- Daily Drawdown is % based, not fixed based.
- Sometimes they have server issues but they try to solve it very fast and fix accounts which were affected by this
CONCLUSION
At this moment My Forex Funds is in TOP 3 Most Popular and safe Forex Prop Trading Firms out there. I’ve seen many companies come and go, this company is one which will try to stick into the market and take care of it’s clients.
Good part is that they know what is trading about and how it should be handled behind the scenes with real money. At least this is the overall feeling I have following their discussion from top guys. Front line support has basic knowledge of trading but you will get answers to your questions if you are patient enough.
My Risk with My Forex Funds: 40%
^^ My Risk ^^: 40% of overall Investment over PropFirms (e.a. If I have 1MLN in funding I would have a 400k account with them)
Website | https://myforexfunds.com |
Created on | 2020-07-14(2 years) |
Location | Ontario, Canada |
TrustPilotScore (5,700+ reviews) |
EXCELLENT 4.9 out of 5 (May 2021 First Review) |
Location | Ontario, Canada |
Trusted | YES ✓ |
Is MyForexFunds Safe to USE? Refund?
Yes – after you pass your challenge and you move to funded phase you need to be profitable for first payout and then they will refund your fee. Rapid and Accelerated account fees are not refundable
Is My Forex Funds a Scam?
We definitely don’t this it is a SCAM, especially after we been funded and paid by them. At this moment I think they are top of the game in market, but make sure you invest only your money you can afford to risk.
Customer service is really good and they have a great community in discord as well.
There are too many well know people and companies involved into this product, so it is not a SCAM, the only thing to take care is to make sure you can pass the challenge and be profitable in the funded phase.
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