My Forex Funds Review

 

My forex funds is one of the fastest growing prop trading firms in the world. They offer three different funding programs that are suited for traders of all levels of experience.

The Rapid program offers a unique two-stage evaluation process that awards you with a funded account if you pass it. The Conventional and Emphatic Accelerated accounts are instantly funded. Each account size has a maximum drawdown set on an equity basis.

What is MFF?

My Forex Funds is a prop trading firm that is very fast growing. They have a huge discord community that is extremely supportive and helpful, as well as a great website. The company gardened a lot of positive feedback on Trustpilot and has a clear set of rules, versatile programs, and great customer service.

The company is run by Murtuza Kazmi, who was a part-time trader before starting MFF. He started the company to take advantage of his crypto gains and help other traders succeed. The company has grown tremendously in the past few years and they are continuing to expand rapidly. They offer three different funding programs: Rapid, Evaluation, and Accelerated.

Traders can start earning immediately with the Rapid account, and then scale up to the Evaluation or Accelerated program. The company offers a very generous profit split of 75%-90% on their Evaluation accounts once they become funded, and excellent scaling opportunities for the Accelerated account. Every time you hit your 10% profit target on the Conventional Accelerated account, they will either double your account or give you 1.5x your account size up to $2 million. This is a great way to grow your account quickly!

Another interesting feature of MFF is that they allow you to hold your trades over the weekend, something that many other prop firms don’t do. The company also allows you to trade during news and has very few restrictions on your trading style. They have a large variety of different markets to choose from, including forex pairs, commodities, and indices.

The only downside is that MFF does have a minimum of three trading days per week and they don’t have any margin call protections. This can make it difficult for some traders to meet their profit targets, especially beginners who might have trouble with these requirements.

MFF does have one very important caveat that should be noted: they do not accept traders from certain OFAC sanctioned countries (including Iran, Iraq, Syria, Sudan, and Russia). Those traders would be better off looking for other prop trading companies to work with.

How does MFF work?

MFF is one of the newest prop firms in the industry and has experienced some growing pains. For every disgruntled would-be funded trader complaining about a scam, there are dozens of traders who’ve been successfully funded by the company. They offer three different funding programs and have a unique approach to the funded challenge.

The first program is called Rapid and offers traders a 12% profit split without having to pass an evaluation. However, the company does impose some rules like a 5% daily drawdown and a maximum overall drawdown of 12%. Additionally, you’ll need to trade for at least three trading days a week and have an average risk per trade of 1.2x or higher. If your account strays from the required consistency, you won’t receive payment.

If you want to skip the evaluation process and get funded immediately, MFF’s Accelerated program is also an option. However, you’ll have to reach a minimum of 8% and 5% profit targets in two phases before they will fund you. This is more realistic than the industry standard and gives you a good chance of getting funded. Once you become a funded trader, you’ll also have the ability to scale your account up to an 85% profit split once you meet the requirements.

Finally, MFF’s accelerated accounts are the only ones that allow you to hold your positions overnight. All other funded accounts are forced to close out the open position before 5 p.m EST to avoid violating the company’s 5% maximum drawdown rule. This means that even if you have a winning position, it will be closed out if the equity falls below 5% at 5 p.m.

While this approach can make it harder to keep a profitable account, it’s also a better way for newer traders to build confidence and learn from their mistakes. Plus, it helps MFF maintain a consistent level of risk across all their traders. This makes their evaluation process fairer for everyone involved. In addition, MFF’s refund policy is the most generous of any of the prop firms that offer instant funding.

What are the trading conditions?

Most prop trading firms have pretty high standards for their funded traders. This is understandable, after all, they are investing their own capital and want to make sure that their traders can manage the risk of their investment properly. However, some of these firms also over-regulate their traders and create rules that are unnecessarily restrictive. For example, many firms require traders to pass a performance based challenge before they can get access to their capital. This requirement can be frustrating for gifted traders who are unable to meet the requirements.

The good news is that there are firms like my forex funds that offer funding with much more lenient conditions. This firm is one of the fastest growing prop firms in the world and offers funding to thousands of traders each year. Their rates are also very competitive when compared to other top-ranked firms like FTMO. For example, my forex funds will give you a $50,000 Evaluation account for just $299.

My forex funds also offers a number of different programs to suit the needs of different traders. These programs include a rapid program for beginners, an evaluation program that requires a performance based challenge, and an accelerated program that bypasses the performance based challenge and allows traders to receive instant funding. The trading conditions vary between the three programs, but all of them have some common features. For example, all MFF programs have a maximum drawdown of 5% and require that traders achieve a minimum percentage gain within a specified time period.

In addition, all MFF accounts are required to use a reputable forex broker. This is to prevent any changes in liquidity or market conditions from impacting the funded trader’s profitability. In order to avoid any issues with their brokerage, traders are also prohibited from using automated trading tools or robots on their funded account.

The MFF accelerated account is my personal favorite because it allows traders to bypass the evaluation process and immediately access their funded capital. However, it is important to note that this option comes at a cost. Traders who choose to use this account will be required to pay a monthly fee of $300 in addition to the initial deposit. This fee is used to cover operational costs including staff, technology, and other business expenses.