My Forex Funds Review

My Forex Funds operates on a philosophy that growth for the firm is tied to the success of its traders. In this light, the company commits itself to support traders on their path to success by offering tailored programs, services, and critical information.

At My Forex Funds, traders are not only supported but actively encouraged to thrive in their respective fields. The firm's expectations are clear: disciplined risk management and a focus on long-term consistency. In return, traders have the opportunity to manage considerable capital up to $2,020,000, with an enticing profit split of up to 90%. The trading options are diverse, including forex pairs, commodities, indices, and cryptocurrencies.

An In-Depth Look at My Forex Funds

Founded in July 2020, My Forex Funds is the brainchild of CEO Murtuza Kazmi, operating out of Toronto, Canada. They extend opportunities to undercapitalized traders by offering three unique account types. These accounts allow for working with up to $2,020,000 capital and earning up to 90% profit splits. With a dedicated broker named Traders Global Group based in Frankfurt, Germany, My Forex Funds stands out in its field.

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The company is headquartered in the Great Lakes region of Canada.

Meet the CEO: Murtuza Kazmi

Aged 37, Murtuza Kazmi leads My Forex Funds from Toronto, Canada. Balancing family life with hobbies such as watching 'The Office' on Netflix and engaging in sports like American football, badminton, and cricket, Kazmi has been part of the company six months prior to its public launch in July 2020.

As Chairman and CEO, Kazmi guides My Forex Funds to success by fostering a global community. The diversity of members from various countries and cultures not only enriches his daily experience but also shapes the firm's hiring practices. By employing staff across different geographies, My Forex Funds ensures a cultural and linguistic fit with their traders, further solidifying their reputation as a trader-centric firm.

Funding Program Options at My Forex Funds

My Forex Funds stands out for its variety, offering three distinct trading programs to suit a diverse array of trader needs. Below, is the intricacies of these programs from the perspective of a professional prop funding firm reviewer.

Rapid Program Accounts

The Rapid Program is designed as an evaluation of a trader's capabilities over a three-month period before providing access to live funds. It's particularly noted for its 12% bonus profit payouts even during demo trading.

Key Features:

• No profit targets; you receive 12% of the profits with 1:500 leverage.
• Focus on maintaining the 5% maximum daily loss and 12% maximum loss rules.
• Requirement of three minimum trading days per week.
• Option to choose from consistency enabled or no consistency accounts.
• Graduated profit splits after success in the demo period, starting from 50% in the first month and increasing to 80% from the third month onward.
• 100% refund of the initial paid fee with the first withdrawal from the funded account.
• No scaling plan is available.
• Trading instruments include forex pairs, commodities, indices, and cryptocurrencies.

Rapid Account Program Rules:

• Maximum daily loss: 5%
• Maximum overall loss: 12%
• Minimum trading days: 3 days per week
• Maximum trading days: 90 days
• Optional consistency rule to maintain steady account characteristics.

Evaluation Program Accounts

My Forex Funds' Evaluation Program is geared towards identifying serious and talented traders, rewarding them for consistent performance across a two-phase evaluation period. The leverage is set at 1:100.

Phase One:

• Profit target: 8%
• Maximum daily loss: 5%
• Maximum overall loss: 12%
• No maximum trading days; a minimum of five trading days is required to proceed to phase two.

Phase Two:

• Profit target: 5%
• Maximum daily loss: 5%
• Maximum overall loss: 12%
• No maximum trading days; a minimum of five trading days is required for funding.
• 2% reward of the profit made in phase one evaluation.

Upon Completion:

• Funded account with 5% maximum daily loss and 12% maximum loss rules.
• First payout after 30 calendar days of a minimum of 10 trading days, consisting of 75% of profit made, an additional 4% profit from phase two, and a 112% refund of the initial paid fee.
• Bi-weekly payouts after the first, with profit splits increasing to 80% in month two and 85% from the third month onward.

Minimum Withdrawal Policy:

• $50 required profit for account sizes $5k, $10k, $20k
• $100 required profit for account sizes $50k, $1000k
• $150 required profit for account sizes $200k, $300k

The absence of the Accelerated Program Accounts in the content provided does not allow for a review of that specific option. However, the Rapid and Evaluation Programs demonstrate My Forex Funds' commitment to offering diverse and profitable opportunities for traders of varying skills and preferences.

VIP Reward Program and Updates to Evaluation Program Accounts

The My Forex Funds family has recently introduced an exciting addition called the VIP Reward program. This new feature is tailored to recognize and reward consistent traders who put in the effort to achieve success. Along with this, there have been updates to the scaling plan of the Evaluation Program Accounts. Here’s a detailed analysis:

VIP Reward Program

Aimed at seasoned and disciplined traders, the VIP Reward program lays out stringent but attainable milestones for entry. It’s all about acknowledging the dedication and finesse that define the cream of the trading crop.

VIP Reward Program Requirements:

• A minimum of 5 payouts received.
• Trading for at least 3 months consistently (all-in or high-risk trading styles are disqualified).
• No account violations during the 3-month eligibility period.

Benefits of the VIP Reward Program:

• 90% Profit Split: An enticing 90% share of the profits goes directly to the trader.
• No-Withdrawal Restrictions: Traders in profit can withdraw at any time, with the payout request button always being active.
• Semi-Automated Payout Confirmation: Expect money in your Deel account within just 10 hours.
• Occasional Additional Benefits: Keep an eye on your mailbox for surprises that might come your way.

Evaluation Program Account Scaling Plan

The Evaluation Program Accounts have undergone refinements, especially with the inclusion of a new scaling plan. Here’s how it works:

• Profit Target Requirement: You must achieve a profit target of 10% or more within a four-month period, with at least two profitable months within that frame.
• Account Increase: You will receive an account increase of 30% of the original account balance.

Example of Scaling Plan:

• After 4 months: $200,000 account balance increases to $260,000.
• After next 4 months: $260,000 balance increases to $320,000.
• After next 4 months: $320,000 balance increases to $380,000.
• Continues in the same pattern.

Trading Instruments for the Evaluation Program Accounts:

• Forex pairs
• Commodities
• Indices
• Cryptocurrencies

Evaluation Program Account Rules:

• Profit Target: Phase 1 requires 8%, while Phase 2 requires 5%. Funded accounts must respect the minimum withdrawal policy.
• Maximum Daily Loss: All account sizes are capped at a 5% daily loss.
• Maximum Overall Loss: An overall loss cap of 12% applies to all account sizes.
• Minimum Trading Days: Both phases require at least 5 trading days, while funded accounts need a minimum of 10 trading days for payout eligibility.

The VIP Reward program and the new additions to the Evaluation Program reflect My Forex Funds' commitment to nurturing talent and rewarding consistency. With these features, the firm continues to create enticing opportunities for traders at various levels of expertise. The transparent rules and progressive rewards make it an attractive proposition for serious traders looking to climb the ladder of success.

My Forex Funds' Accelerated Program Accounts

My Forex Funds continues to enhance the trading landscape by introducing an Accelerated account program, which presents traders with two distinct options: the Conventional and Emphatic accelerated program accounts. This innovative addition is designed to elevate trading to a new level of accessibility and opportunity. Here's everything you need to know:

Accelerated Program Account Features

Both Conventional and Emphatic accelerated program accounts share the following features:

• No Maximum Daily Loss Rule: Only a maximum loss rule is applied.
• No Time Limitations, Lot Size Restrictions, or Consistency Rules: Flexibility in trading without excessive constraints.
• No Profit Targets for Weekly Payouts: Eligibility for weekly payouts doesn't require specific profit targets.

Conventional Accelerated Program Accounts

This option is for those who wish to skip the evaluation period and jump directly into trading a funded account with profit splits.

Key Features:

• Leverage: Trading with 1:50 leverage.
• Profit Splits: Earn 50% profit splits on the profit made.

Scaling Plan:The scaling plan for Conventional accounts is based on a profit target of 10%:

Emphatic Accelerated Program Accounts

This option also allows skipping the evaluation period and jumps directly into trading a funded account with profit splits.

Key Features:

• Leverage: Trading with 1:100 leverage.
• Profit Splits: Earn 50% profit splits on the profit made.

Scaling Plan:The scaling plan for Emphatic accounts is based on a profit target of 20%:

Examples of Profit Targets and Scaling:

Conventional Account:

• Week 1: Gain 4% and withdraw 50% of your profits.
• Week 2: Gain 7% and total profits reach 11%, making you eligible for scaling since you reached the 10% target.

Emphatic Account:

• Week 1: Gain 8% and withdraw 50% of your profits.
• Week 2: Gain 14% and total profits reach 22%, making you eligible for scaling since you reached the 20% target.

Trading Instruments for the Accelerated Program Accounts:

• Forex pairs
• Commodities
• Indices
• Cryptocurrencies

Accelerated Program Account Rules:

• Maximum Loss: 5% maximum overall loss before account violation.
• No EAs Allowed: Only expert advisors for copying purposes are permitted.
• No Weekend Holding: Traders cannot hold open positions during the weekends.

These new Conventional and Emphatic accelerated program accounts from My Forex Funds introduce a fresh and exciting opportunity for traders looking for flexibility, control, and clear growth paths. The options cater to different preferences and offer a promising trajectory for traders ready to take their game to the next level.

How My Forex Funds is Unique: A Comprehensive Review

In the expansive world of prop trading, differentiation is key, and My Forex Funds sets itself apart with a distinctive approach to trader funding. The firm has tailored three specific programs, each serving different trading styles and objectives. Unlike many leading prop firms, My Forex Funds offers flexibility that accommodates both news trading and holding positions overnight and over the weekends (with the exception of the accelerated programs).

The Rapid Program: A Fresh Take on Prop Funding

The Rapid Program offered by My Forex Funds is an innovative three-month initiative that provides a 12% profit split, even within a demo trading environment. With leverage as high as 1:500 and just three required trading days per week, this program prioritizes flexibility. The additional options for consistency-enabled or non-consistency accounts enhance the adaptability. Unlike other prop programs, the Rapid Program does not include a scaling plan, setting it apart as a truly unique offering.

The Evaluation Program: Comprehensive and Trader-Focused

Spanning two phases, the My Forex Funds Evaluation Program sets a lower bar for profit targets and trading days compared to many counterparts in the industry. The profit target is 8% in phase one and 5% in phase two, combined with a 5% maximum daily and 12% total maximum loss rule. Additionally, the required minimum of 5 trading days in each phase ensures a balanced approach. The presence of a scaling plan further underscores the comprehensive nature of this program.

Side-by-Side Comparisons:

My Forex Funds vs. FTMO:

My Forex Funds vs. True Forex Funds:

My Forex Funds vs. The Funded Trader:

Accelerated Programs: Conventional & Emphatic

Beyond the Rapid and Evaluation programs, My Forex Funds extends its offering with Accelerated Programs. These direct funding programs are available in both conventional and emphatic versions, free from daily loss limitations, time constraints, or lot size restrictions. A significant advantage is the absence of profit targets for weekly profit splits, making them enticing for various trading levels.

Is Capital Funding Through My Forex Funds a Viable Option?

The choice of a prop firm must align with your trading style, especially in the world of forex trading. Promises of high-profit splits on extensively funded accounts may appear tempting, but when these offers are coupled with unrealistic expectations for monthly gains and tight restrictions on drawdowns, success may seem unattainable.

However, with My Forex Funds, the dream of capital funding becomes more than just a possibility. Let's explore how:

The Rapid Program: A Tangible Opportunity

The Rapid Program at My Forex Funds stands out with its realistic approach. There are no profit targets, and you begin earning a 12% profit split during the three-month demo phase. The program's lenient trading rules, along with the option to choose between consistency enabled or non-consistency accounts, make it a feasible option for many traders.

The Evaluation Program: Realistic Targets and Supportive Conditions

With reasonable profit targets of 8% in phase one and 5% in phase two, complemented by a comparatively generous maximum loss rule (5% daily and 12% total), the Evaluation Program ensures that receiving capital is not merely a pipe dream. The program's well-balanced conditions set the stage for attainable success.

The Accelerated Programs: Direct Funding with No Barriers

The Accelerated Programs present a straight path to funding, free from the hurdles of profit targets. These direct funding initiatives offer immediate earning opportunities, with the added benefit of weekly withdrawal requests. Such flexibility makes the pursuit of capital a genuinely achievable goal.

Payment Proof and Credibility

Founded by Anurag Jaiswal in July 2020, My Forex Funds maintains a transparent payment process with options for bi-weekly or monthly payouts, depending on your chosen program.

Payment proof is accessible, providing confidence in the firm's integrity. You can find verifiable proof of payment on their Discord channel, and pictures depicting examples are available below.

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Through its clear, realistic, and approachable funding programs, My Forex Funds elevates itself as a trustworthy and viable option for traders at various stages of their careers.

Broker and Trading Details of My Forex Funds

My Forex Funds collaborates with Traders Global Group as their trading server, leveraging its services to provide liquidity. As a proprietary trading firm using the company's capital for live account funding of their traders, My Forex Funds doesn't necessitate regulation.

Trading Platforms

My Forex Funds facilitates trading on popular platforms:

• MetaTrader 4
• MetaTrader 5

Trading Instruments

The firm offers a diverse range of trading instruments, allowing you to trade:

• Forex pairs
• Commodities
• Indices
• Cryptocurrencies

Trading Fees

My Forex Funds has the following commission structure for different asset classes:

Education & Support for Traders

Though My Forex Funds doesn't offer formal educational content, their blog contains posts covering basic concepts that traders can review here.

You can also explore their thread on ForexFactory or the ‘PROP FIRM HUB’ thread, where they are frequently mentioned here.

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My Forex Funds enhances trading experiences with a sophisticated dashboard that allows traders to monitor progress, analyze past trades, manage risk efficiently, and access 24/7 statistics on their crucial trading objectives.

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Feedback and Community Engagement

My Forex Funds has received rave reviews, scoring an impressive 4.9/5 from 12,191 reviews on Trustpilot.

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Their responsive support team and customer-centric approach garner significant appreciation.

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A key highlight often mentioned is the provision of live accounts rather than demo versions, enhancing the realism of trading experiences.

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Social Media & Community Interaction

Stay connected with My Forex Funds on:

• Facebook with 22k followers
• Twitter with 2,091 followers
• Instagram with 92.9k followers
• Discord channel with over 144,000 members for support and community interaction

Support Channels

My Forex Funds has a comprehensive FAQ page for quick information. For personalized support, you can reach out via:

• Social media channels
• Email at support@myforexfunds.com
• Direct messaging on their website

Registration Process at My Forex Funds

Joining My Forex Funds is a streamlined process that comprises the following steps:

1. Choose Your Trading Platform: Select your preferred trading platform from the available options.
2. Create an Account with My Forex Funds: Sign up for the program that best suits your trading style and needs.
3. Order Confirmation: Once you've made your selection, you'll receive an immediate order confirmation.
4. Complete Registration: Finish the registration process to set up your trading environment.
5. Access Login Credentials: Receive instant login credentials to access your trading account.
6. Navigate to User Dashboard: Your dashboard will be your central hub for tracking progress and managing your account.
7. Complete Phase 1: Successfully finish the first phase of the program if you've chosen a phased approach.
8. Proceed to Phase 2 (if applicable): After completing phase 1 and refreshing your dashboard, you will receive your login credentials for phase 2 and can upgrade your account if necessary.

Conclusion

My Forex Funds sets itself apart as a reputable proprietary trading firm, offering three distinct funding programs to cater to various trading needs and experience levels.

• Rapid Programs: Ideal for gauging a trader's prowess over a three-month span, rapid programs enable traders to earn up to 80% profit splits, including a 12% bonus even in a demo environment.
• Evaluation Programs: Designed as a two-phase challenge, evaluation programs set realistic targets (8% in phase one and 5% in phase two), allowing traders to earn up to 90% profit splits and scale their accounts.
• Accelerated Programs: These direct funding programs enable experienced traders to bypass the evaluation phase, offering 50% profit splits and no limitations on time, lot size, or consistency.

My Forex Funds is suitable for all types of traders. Novices may gravitate towards rapid programs, whereas seasoned traders may opt for evaluation or accelerated programs, depending on their confidence and objectives.

As of the last update on 03.08.2023 at 10:36 (CE(S)T), My Forex Funds continues to stand as an industry leader among prop firms.

Your Feedback Matters: How do you feel about the structure of My Forex Funds? Do they offer the trading instruments you desire? Share your thoughts, and let us know if you found our review of My Forex Funds Proprietary Trading firm valuable!

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