So we thought of guiding you with our MFF real trading account. Important Disclaimer: The information contained on Forex Broker Report is intended for informational and educational purposes only. Follow the steps below to guarantee your sponsorship. To put your mind at ease, the answer is yes if you hit the 10% profit target prior to the withdrawal. If you are a professional trader, and highly confident about trading with success, you should subscribe to the account under this program. MyForexFunds is a world leader in FOREX prop trading. Evaluation Program If you meet 10% account growth within 4 months, then your account will be scaled up by 30%. For every profit of a trading cycle, up to 3.5% account growth will be collected to meet the eligibility requirement (10% account growth) of getting the real funded account. Since I have been trading with the company over the last few months, with the increase of new traders, Ive noticed a huge increase in the quality of support for traders. The most positive experience I had on it was with Funding Talent, and you know what happened to them last year. Lets find out the background of MyForexFunds. You can view how they rate brokers by visiting here: https://www.forexbrokers.com/how-we-test, IG | Disclosures and risk warning | Terms and agreements | Privacy | Cookies | Investors. With Deel, you can request your payouts with Paypal, bank transfer, Payoneer, Revolut, Mercury, etc. I have now had 4 withdrawals from MyForexFunds, all of which were paid on time and in full. With traders across the globe MyForexFunds looks to provide capital to the worlds best traders. But due to poor customer support, peoples complaints will not slow down unless they make a drastic change. If youre interested in hearing more about how the worlds fastest growing funding option was founded, Id certainly give this interview a listen. My Forex Funds FAQ I can't place a trade Permanently deleted user 2 years ago Updated First, please make sure you are using the original password (NOT the Investor Password) to log in to the MT4 trading account. I have worked with MyForexFunds and TheFundedTrader over the last 6+ months and I would say that their offerings are incredibly similar. The 8% profit target must be met within 30 days after the first trade placing. Rapid - goals - $10,000, $20,000, $50,000, and $100,000; . Allows for multiple authorized traders to one account. Its lovely to see that MFF isnt some faceless brand like many of the other competitors within the industry. There are a few reasons why this occurs and if you are new to the industry, you may be a little confused as to what happened. Founded in July 2020, MyForexFunds is operated from Toronto, Canada and considered as a fast-growing proprietary firm. They have been in the market for 19 months and gained good recognition. They also offer a performance challenge with no daily drawdown limit, that should you pass, you could get funded up to $2,000,000 to trade with and a profit split of 85%! The Founder Of MyForexFunds The Man Behind The Brand. They offer 3 very interesting funding models and a huge scaling plan up to $1,350,000, making it the largest fund in the market! Demo Account Features Open a free demo account Try our award-winning trading platform with 10,000 in virtual funds and benefit from: No risk, no commitment A risk-free environment to hone your skills and improve your trading strategies Access to the global financial markets So after 1st month, my FE account already filled 1k$. This is going to be for profitable traders that experienced within the financial markets. This is more expensive than doing a challenge of course because the company is taking on much more risk than they do by checking your performance first, so that is why the $50,000 account commands such a high price ticket. The use of trade signals or copying trades from another source is not allowed. Traders must start with a trading simulator (demo) before moving to the next phase of the trading combine. With the second largest market capitalization according to reports, MyForexFunds has been just close to their competitor to be the market leader. The demo account will also help you navigate the IG platform, ensuring that you can read and analyze price charts, fill in the trade ticket and monitor open positions. IG is a trading name of IG US LLC (a company registered in Delaware under number 6570306). Their funding model offers the opportunity to scale up to $2M. Overview. The profit target for stage 1 is 8% and stage 2 5%. Hello my dear Forex traders! |. After the close, you will not receive any kind of support. The noticeable thing here is that you cant scale your MFF Rapid Program Account. The best thing is that you dont have any profit targets! The adventure of trading this program is not over yet! Its only been around for a few months now but the reception has been massive and traders all around the world are absolutely loving the offering. You can deposit a maximum of $10,000 (or currency equivalent) per transaction and funds will typically be available immediately for trading, but can take up to 24 hours. The firm is rapidly becoming a director competitor of some of the largest and more established companies, due to the great reputation and very similar trading conditions offered. thats impressive. They can be contacted by filling form online through their website but didn't provide any contact phone number or email. MyForexFunds Account Evaluation Phase - My FX Funding @media(min-width:0px){#div-gpt-ad-forexbrokerreport_com-mobile-leaderboard-1-0-asloaded{max-width:300px!important;max-height:250px!important}}if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'forexbrokerreport_com-mobile-leaderboard-1','ezslot_15',125,'0','0'])};__ez_fad_position('div-gpt-ad-forexbrokerreport_com-mobile-leaderboard-1-0'); I personally take the stance of, Id rather work with 2 prop firms, than 1. With a rapid account, you will pay a one-time, refundable fee (depending on if you are profitable or not), which allows you to trade a demo account for the company. All rights reserved. The profit target is 8% in stage 1 and 5% in stage too, which again is one of the easiest to pass in the industry! @media(min-width:0px){#div-gpt-ad-forexbrokerreport_com-leader-2-0-asloaded{max-width:300px!important;max-height:250px!important}}if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'forexbrokerreport_com-leader-2','ezslot_12',123,'0','0'])};__ez_fad_position('div-gpt-ad-forexbrokerreport_com-leader-2-0'); Being similar to other leading proprietary funds really isnt a bad thing though, especially if youre a profitable trader. Fair play is ensured with clear rules against illegal trading activities. This stage has been taking on average 2 days for me in the last few months. You can look at the image below or visit their Discord for further information to help you understand. Your maximum drawdown is 12%, and the daily drawdown limit is 5%. Trading forex in a demo account offers a great way to get started operating in the world's largest financial market. You have to trade for a minimum of 10 days during the 30 day process and through the 60 day stage 2 challenge too. However, with an IG demo trading account, youll gain access to over 80 FX pairs. And they also work with websites that offer Automated trading software which is another red flag, as this kind of websites are notoriously famous for scamming schemes. Forex Training Add your review Traders Reviews 2.056 46 REVIEWS Add your review Sort by: My Forex Funds Review for 2023 - Online Prop Trading And if you can profit more than 3.5% per cycle, youll be able to earn your real funded account in just three trading cycles. It will end quicker than the fidget spinner phase. If you have any experience trading with this company, please do let me know in the comments below. Copyright 2022 MyPropChoice. Retail Forex broker FxPro has recently made an announcement, revealing its relocation to a new office space in the dynamic city of Dubai. Try our award-winning platform* for free and develop your FX trading skills. You will INSTANTLY have access to the trading capital, ranging from $2000 to $50,000. In this Video I share my experiance of taking the My forex funds 10k evaluation model challenge account. Apologies if this wasnt the clean cut answer you were hoping for both of the offerings are absolutely brilliant! Semi-professional traders, who have had thorough knowledge and profitable experience in trading, should subscribe to this program. Log into your FOREX.com trading account now to trade over 80 global currency pairs, as well as unleveraged . Your email address will not be published. Its extremely hard to pick apart either offering Ive been a loyal fan and customer of both prop firms for a long while now and I think they both have their place. Although based on some users reviews, it shows that they respond quickly and can also be contacted by email: support@myforexfunds.com info@myforexfunds.com. Most people are earning well using their trading skills with My Forex Funds. Will withdrawing profits stop my account from scaling up? Leverage for these accounts is fixed at 1:100. To learn more about their funded trader program and see how they stack up against other prop trading firms, give a read to our MyForexFunds review. In the following sections we tried to elaborate on these programs and our experience with those programs. @media(min-width:0px){#div-gpt-ad-forexbrokerreport_com-large-mobile-banner-1-0-asloaded{max-width:300px!important;max-height:250px!important}}if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'forexbrokerreport_com-large-mobile-banner-1','ezslot_7',121,'0','0'])};__ez_fad_position('div-gpt-ad-forexbrokerreport_com-large-mobile-banner-1-0'); The profit split will be up to 85%, should you pass the challenge process, which is industry leading! July 14 , 2023. This demo account is to assess their trading worth and proficiency to maintain a consistent profit. Hopefully, you will be able to gain a better understanding of what MyForexFunds offers in their dashboard and our credibility regarding the statements and claims. We may not guarantee you about the other assets and trading instruments since we didnt trade those but you can see the spread count from the chart above. Open an Account You are now qualified for a scale up since you have reached the profit target. My Forex Funds Review (myforexfunds.com) FRAUD! - WikiFX Why can I not trade on MT4? We, professional traders, who are always into trading face different trading situations and scenarios. The rapid account option is for traders that are either just reaching consistency, or havent been in the markets for too long. MyPropChoice is not a white label provider of MyForexFunds or any vendor on our website. The accelerated accounts are definitely amongst the most popular amongst experienced traders, emphasis on experienced! In my opinion, as long as everyone is getting paid and the trading conditions are fair, thats all Im worried about! The live account will be worth 10% (all funds transferred) of the original trading account size and maintain the rules. What is forex trading and how does it work. I have now started taking withdrawals directly to my bank, instead of using Cryptocurrency wallets. Traders are allowed to trade with any indicator they like: Discretionary trading, hedging, algorithmic trading, and Expert Advisors; you may choose to use anything you like according to your strategy. I opted for the crypto withdrawal and they paid me my profits the same day Im very impressed with how quickly the payment actually arrived. I would agree that FTMO has more of a backend and infrastructure in place as theyre further along their journey into corporate growth. We looked at what the traders at My Forex Funds were saying. With Demo Account. You can either pay via Coinbase or you can send through any other exchange. They were the first to the party and really laid the ground for the rest of the prop firms to walk on, including MyForexFunds. In regard to supporting traders, they are offering a Discord server, live chat and email support 24/5, in order to get to your query as fast as possible. The accelerated accounts are my favourite funding method offered by MyForexFunds. myForexFunds Review 2022 | Is It Legit or Scam Prop Firm? You then set up a trading copy system, which is allowed under the rules that MyForexFunds sets out. Lost your Password? He has actually been kind enough to partake in various interviews with influencers within the forex trading space, as shown below. I cannot fully critique this as its not actually out currently, but I will update this section once the academy has been launched. Why Do Your Trades Always Go Against You? They very rarely have access to liquidity or the actual markets, so they will usually rely on reputable forex brokers to host their clients funded accounts, which is exactly what MyForexFunds do. If you have a look at my in depth review of trading with FTMO,youll quickly notice that the trading experience provided, the costs, the profit shares and even the rules are very much similar to this company. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); FOREX CNN is a news and Forex signal provider review platform where you can get real-time financial market news 24/7.In addition, our Forex signal review service allows you to find the best suitable signal service provider of the market. 1,388 talking about this. But that is not the case for this new prop firm, MyForexFunds. To get this 12%, I had to follow some strict rules which every trader might be disturbed to follow. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose. In my experience, there is no way I can tell you that MyForexFunds is a scam. Traders want to sign up and start trading real live accounts and withdraw. Without payment proof from other traders, even with good reviews it can be hard to trust a company that seems too good to be true. Trading Tools. Additionally, they regularly host webinars and trader interviews in order to facilitate further learning. Demo accounts arent just for newcomers. These are the 3 accounts in detail: The rapid account option is for traders that are either just reaching consistency, or havent been in the markets for too long. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. They are both exactly the same, apart from the fact that the perimeters have been doubled for empathic accounts. Please read MyForexFunds reviews below and share your experience if your are live MFF trader. How Is MyForexFunds Comparing To TheFundedTrader? MyForexFunds has its headquarter in Toronto, Canada and are on the hunt for professional talented traders worldwide. Instead, please visit{{country}}. Why? My Forex Funds supposes that all of their accounts are raw spread accounts, and for the commission, it cost $3 per round trip on Traders Global Group demo and live server. From the actual time of processing, to arriving in my cryptocurrency wallet was about 30-45 minutes. @media(min-width:0px){#div-gpt-ad-forexbrokerreport_com-large-mobile-banner-2-0-asloaded{max-width:300px!important;max-height:250px!important}}if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'forexbrokerreport_com-large-mobile-banner-2','ezslot_9',122,'0','0'])};__ez_fad_position('div-gpt-ad-forexbrokerreport_com-large-mobile-banner-2-0'); Two account types are offered, with conventional and empathic. Like the one in the Conventional Accelerated Program, in the Emphatic Program you also get the flexibility to enter direct trading by bypassing the evaluation stage. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); MyForexFunds is a popular proprietary trading firm that offers funds for Forex, metals, CFDs and cryptocurrency trading. Required fields are marked *. Each prop firm has their own pros, cons and rules which can make or break them for forex traders, depending on how you like to trade the markets! You will be paying a one time fee for a 2 step challenge, very similar to FTMOor 5%ersfor example just slightly cheaper! We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. Our receipt of such compensation shall not be construed as an endorsement or recommendation by ForexBrokerReport.com, nor shall it bias our reviews. Both companies follow the standard challenge model that FTMO created many years ago. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. It's an educational platform offering a simulated trading experience, with weekly and monthly seasons. * "Award-winning" is based on the ForexBrokers.com 2023 Annual Review. So simply speaking, you will be able to trade a demo account and improve on your skills in the markets, and still, get paid. It is still tighter in that aspect too. Forex, Indices, Commodities, Stocks, Cryptocurrencies. A practice account is intended to familiarize you with the tools and features of FOREX.com's trading platforms and to facilitate the testing of forex trading strategies in a risk-free environment using virtual funds. You can get access to your real account even if you pass the phases within 10 days (5 trading days for each cycle). This is Marco Di Chiara, the MyForexReport trader and senior trade analyst. Forex Demo Account | Free Forex Trading Demo Account | IG US Demo trading account Try our award-winning platform* for free with a free forex demo account. MyAccount provides a convenient way for you to fund, request a withdrawal, update or manage your profile and more. Join now and get a chance to learn, improve, and win without financial risk! Empowering Traders with Funding since 2012. You can scale your account in different phases since this scaling plan is dependent on the size of your account. My Forex Funds - Facebook We will show you the easiest way to do it. . Start Now. When making a payment via Cryptocurrency, please make sure to check for the correct network for every currency before making the transaction. The buzz around the company over the last few months has been very much noticeable. As per our research, MyForexFunds has quite a bad reputation for their poor customer service. Thank you, Information source from MyForexFunds Official Website about their services. I would argue that TFT has better marketing and more on offer for traders, in terms of gimmicks. In recent weeks, a wave of discontent has swept across social media platforms in Nigeria as investors voiced their frustrations over alleged account disabling and withdrawal issues with an investment platform called Kwakol Markets. Rules & Subscription Fees for MyForexFunds Rapid Program, Rules & Subscription Fees for MyForexFunds Evaluation Program, Rules to Maintain for Accelerated Program. As of now, My Forex Funds seems legitimate as it pays the percentage profits as disclosed in their earning plan. In the case of MyForexFunds, students are instructed to pay money upfront to trade on a demo account. Payments using crypto are to be sent to our merchant Coinbase as indicated on our checkout page. The time in which is takes to get a response from the team has decreased massively, there is also now a live chat function which can help answer any small queries you may have. I really like the fast service especially replying to urgent chats. The World's Leading Funded Trader Program. Mobile App. The programs are Rapid, Evaluation, and Accelerated. We go through multiple layers to ensure that neither I nor MyForexReport suffer under any circumstances. Over the last few months, MyForexFunds has started interviewing some of the most successful traders using the funded accounts. But if you violate any rules, you wont be given the change of extension. Yes, their customer service does not provide 24/7 support. Up to 41% Discount on MyForexFunds Funded Account Challenges. Within the last few years there has been literally thousands of reviews from traders using MyForexFunds every month which is amazing to see! MyForexFunds are not a broker. But consider this for a newbie in trading, when they fall into such situations with their investment they suffer terribly. This is a fairly new prop firm, founded in July of 2020 and has funded around 40,000 traders around the world so far. MyAccount provides a convenient way for you to fund, request a withdrawal, update or manage your profile and more. This rule will change the Prop Trading Industry Recommended Prop Firmshttps://myforexfunds.com/?wpam_id=3433http://dash.traderscentral.fund/sign-up?ref=chik. Metatrader 4 Demo - MT4 Demo Account - FOREX.com US Commodities. Start Now. Kyle Townsend is the founder of Forex Broker Report, an experienced forex trader and an advocate for funding options for retail forex traders. There is no difference between a demo trading account, trading simulator or paper trading account. Irma mentioned in the interview that MFF have never missed a withdrawal (likewise with me) and she cannot fault the company at all! While they are still a relatively new brand, MFF already has funded over 4000 forex traders as of 2022. Then, here we are, giving you a thorough insight into this fairly new prop trading firm. The Market Awaits You. Experienced traders often like to use demo accounts to try out new strategies, tools or ideas, safe in the knowledge that they wont result in any real-world losses. Ive been trading the MFF Rapid program since the first week of August. Do you have any other members based in the UAE who can access this link? Log in to your FxPro Direct, go to 'My Accounts', click on the demo account heading, and select 'Add Funds'. . Your profit shares will be scaled to 80% for the next two months and then be increased to 85% starting the third month after you receive your first reward. They use their own server, Traders global group for all MFF accounts, both challenge phase and live accounts. MyForexFunds Reviews What Are Traders Saying? If you can meet these conditions then youre good to reach the second step. The spreads are good, the fees are cheap and you will have no problem executing trades using their liquidity. The information on this website is not directed at residents of countries where its distribution, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. MY FOREX FUNDS $10,000 FUNDED ACCOUNT AQUIRED! (HOW I PASSED - YouTube It is well designed with all the necessary gadgets and information put in place. Any statements made on this website have not been evaluated by governing bodies. Register with WikiTrade, get a demo account with 100,000 demo funds, and follow the rules to qualify. Account Funding FAQs - Help and Support - FOREX.com CA 14 days extension to trade if traders do not meet the profit target. Therefore, it is impossible to label them as an unreliable prop trading firm. Id like to receive information from IG US about trading ideas and their products and services via email. MFF Have you received the dreaded "Suspended" notice on your My Forex Funds account? You can choose funding between $2,000 $50,000. In fact, when I first published this review, they only had 20 reviews on Trustpilot. They are certainly not the most regulated broker in the world but they offer a great trading environment, leverage and conditions for all traders around the world. I was later given 12% of the $2,846 profit. Remember me I forgot my password Not yet a FOREX.com client? Click here to trade your account. IG is a registered RFED with the Commodity Futures Trading Commission and member of the National Futures Association (NFA ID 0509630). You cant earn until you pass both assessment processes on the Evaluation Program. This is instant funding, with no challenge, no verification and no monthly fee! Signing up myforexfunds is easy. . Interestingly, MyForexFunds are sharing profits via Bitcoin. They are both exactly the same, apart from the fact that the parameters have been doubled for empathic accounts. You then pass a $100,000 challenge herebecause the rules and conditions are so similar, now you have doubled your trading capital extremely quickly and reduced your exposure to just one trading firm. So you cant really see your trading information with a few taps and swipes unfortunately. Why is My "My Forex Funds" (MFF) Account Suspended? In the case of My Forex Funds, everything works the same.