In the case of Evaluation accounts, you will receive 75% after the first month, then the second month, you will receive 80% of the total generated, and after that point, you will receive 85% of all profits for the remainder of the time. A Firm that should focuses on a funding model, which is built around a very simple process, governed by simple and clear rules and not bound by time deadlines and restrictions. In each programme, the profit sharing is different, as in some of them you will start trading directly on a live account, while in others you will be trading on a demo account, or you will simply have to pass an evaluation. FTMO: Two-stage evaluation. Currently My Forex Funds has 3 funding programs available, all with a single payment, i. e. no monthly payments, you pay only once for access to the program or evaluation in the case that corresponds. Profit payouts are set individually for each account type. Psychological pressures. The firm establishes some rules that must be complied with, as failure to comply with any of them may result in the permanent suspension of your account. It's not surprising that 95% of traders fail their challenges!
Affordable access prices on all programmes, with several options in each programme. Profit split of up to 85% of profits generated. This programme is closer to the model used by other similar companies such as FTMO (view our FTMO review), where a one-off payment is made for access to the evaluation, but certainly much more affordable. One of the things that sets My Forex Funds apart from other of the best proprietary trading firms, and in turn makes it so popular, is its 3 programmes, which focus on each trader's level of experience. With the FTMO Prop Trading firm, you can manage the FTMO Account with an initial balance of up to $400, 000. Taking into account some opinions of users of this firm, and proof of payment shown by some of them, we can affirm that at least for now it is not a fraudulent prop trading firm that only charges for the evaluations and then does not pay the profits you get. On the other hand, if you consider yourself a profitable trader and your trading is in line with the company's rules and requirements, you won't have much to lose, but you will have a lot to gain, as if you manage to generate profits and grow your account, you will be reimbursed 100% of the total cost of accessing the programme, not counting any profits you may make. Another common rule is the 5% Maximum Daily Drawdown and 12% Maximum Overall Drawdown. Do you prefer compounding your account or rather enjoy your hard-earned profit?
How do the My Forex Funds programmes work? Periodically, we will allocate more balance into your FTMO Account if you consistently profit. 5% Off use code EBFINANCE5. Evaluation is a programme designed for profitable traders who are not yet professionals, and who wish to be funded with capital ranging from $10, 000 to $200, 000 USD. These two steps consist of the FTMO Challenge and the Verification. If we focus on the aspects that differentiate My Forex Funds from other proprietary trading firms, there are actually not so many. In case things go wrong, all losses on the FTMO Account are covered by our Proprietary Trading firm. Most of the reviews you can find on Trustpilot about My Forex Funds refer to the excellent customer service, helping at all times and solving their clients' problems in a timely and efficient manner. Another issue traders face is the so-called 'keep and grow or withdraw and go'.
Besides that, the other significant difference will be the funding options. As a trader, you will face many common problems such as: - Trading an account that is too small (undercapitalization). Among all the companies that offer funding services to traders, this is probably the one that has grown the most in the last year (2021), reaching more than 80, 000 traders from about 150 different countries. What are the user reviews of My Forex Funds? By contrast, around 85% of traders fail within the forex markets, regardless of a trading challenge or not. Cons of My Forex Funds. You will not receive payments if they detect any indication that you are using the account for gambling, or any change in erratic behaviour, such as significantly increasing your lot size, daily trades or risk per trade. The lucky few who pass are then funded with capital, and successful trades are split down a percentage with the broker. In short, its reliability is questionable, but it doesn't mean that it is a scam company, we think it just needs a little more time to establish a good reputation. Topstep FX is based in the USA, but it is available for everyone to use worldwide. A package designed for professional traders with experience in the financial markets but who do not want to take the risk of losing their own money. Also, traders at FTMO will receive wide access to our innovative Trading Applications which can enhance their trading edge and we will also evaluate your trading accounts with detailed feedback from our company.
MFF (My Forex Funds): Single Stage Evaluation, Two Stage Evaluation, Direct Funding. The leverage available on My Forex Funds depends largely on the account you are using, being: - 1:500 for Rapid accounts.
FTMO: Forex Pairs, Commodities, Indices, Stocks, Bonds, Cryptocurrencies. Another benefit of trading for FTMO is that you won't be responsible for any losses if any. Profit sharing: 75% to 85%. They may even go as far as removing some, if traders are having trouble passing the evaluation phase when trading this instrument. The Accelerated program, designed for the most experienced traders, is very new within the prop trading firms, since in this case the trader will be able to skip the evaluation process and start trading with a real funded account immediately, from the first day, starting with a balance between $2, 000 and $50, 000, with the possibility to grow these funds up to a maximum of $2, 020, 000.