Blue Guardian vs My Forex Funds

Comparative Overview: Blue Guardian vs. My Forex Funds

Retail traders seeking to elevate their trading careers through proprietary trading firms often face the challenge of choosing a partner that aligns with their trading style and goals. This comparative review of Blue Guardian and My Forex Funds aims to dissect the offerings of both prop firms to provide clear insights for potential users.

Account Potential and Profit Sharing

Blue Guardian stands out with its high $400,000 standard account cap that scales up to $2 million, which is particularly appealing for traders aiming to manage substantial capital. Additionally, the firm offers an impressive 85% profit share, which is above the industry standard. My Forex Funds, on the other hand, addresses a different segment of the market with funded accounts ranging from $2,000 to $50,000 and a slightly higher maximum profit share of 90%. The choice between the two firms may largely depend on the scale of funds a trader is looking to manage and the profit share they wish to achieve.

User Experience and Support

Blue Guardian’s commendable 4.8/5 Trustpilot rating indicates excellent user satisfaction, supported by a comprehensive user interface and access to a wide array of trading tools. While My Forex Funds has a slightly higher Trustpilot rating of 4.9/5, reflecting top-tier user approval, concerns over delayed live chat support could cause some frustration among traders requiring immediate assistance.

Leverage and Trading Conditions

Both firms offer competitive leverage with Blue Guardian allowing up to 1:100 and My Forex Funds ranging from 1:50 to an impressive 1:500. Such flexibility is key for different trading strategies and risk appetites. Blue Guardian’s evaluation goals are modest at 8% and 4%, which may be seen as an advantage, while My Forex Funds offers the unique benefit of no time limits on their Evaluation Program, removing pressure from traders in a time-sensitive environment.

Tradeable Instruments and Rules

In terms of available markets, both firms offer forex, commodities, crypto, and indices, with Blue Guardian including metals as well. This could be a determining factor for traders with a focus on metal trading. Examining the firms' rules, Blue Guardian includes the use of third-party copy trading and EA (Expert Advisors) under certain risks, whereas My Forex Funds does not allow EAs and prohibits weekend holding, which could be restrictive for some trading strategies.

Funding and Withdrawal Methods

Both firms keep payment methods straightforward, accepting credit/debit cards and crypto deposits. For withdrawals, they offer similar methods with an emphasis on bank wire and crypto for Blue Guardian, while My Forex Funds also utilizes Deel, a global payroll and compliance service.

Account Sizes and Currencies

The available account sizes indicate Blue Guardian's direction towards traders who manage larger funds, presenting options from $10,000 to $400,000, whereas My Forex Funds has a broader appeal with lower starting account sizes. Both firms operate with USD account currencies.

Operational History and Stability

With both firms established within a year of each other, Blue Guardian in June 2019 and My Forex Funds in July 2020, they are relatively new in the industry. Despite their young age, both firms have built positive reputations quickly. However, longer-term operational stability may still be a consideration for cautious traders.

Final Recommendations

Making an informed decision between Blue Guardian and My Forex Funds boils down to the individual trader's preferences. For those targeting high fund management with attractive profit shares, Blue Guardian is the frontrunner. Conversely, My Forex Funds may appeal more to beginner and intermediate traders with its array of account sizes, high leverage options, and flexible evaluation programs. Considering the pros and cons of each firm's unique offerings will ensure traders align themselves with a prop firm that complements their trading approaches and ambitions.