- Four funding programs with up to $2,500,000 capital
- Stellar 4.9/5 Trustpilot; 90% profit splits
- Excellent support; scaling option available
- Comprehensive trading tools: forex, commodities, indices, and cryptocurrencies
- No trading day restrictions; overnight and news trading allowed.
My Forex Funds
- Over 12,000 Trustpilot reviews with a 4.9/5 rating
- Funded accounts from $2,000 to $50,000; three account types
- First payout includes initial fees plus an extra 12%
- Bonuses during evaluation; profit sharing up to 90%
- Competitive commissions; leverage from 1:50 to 1:500
- No time limits on Evaluation Program.
Cons ❌
Funded Trading Plus
- Leverage up to 1:30
- High commission costs on forex pairs
- Trailing Drawdown
My Forex Funds
- Delayed response time on Livechat support due to queue
- Instances of slippage issues
Rules 📋
Funded Trading Plus
Maximum Daily Loss, Maximum Trailing Drawdown, No Weekend Holding, Profit Target, Third Party Copy Trading Risk, Third Party EA Risk
My Forex Funds
Consistency Rule, Maximum Daily Loss, Maximum Loss, Maximum Trading Days, Minimum Trading Days, No EAs Allowed, No Weekend Holding, Profit Target
Funded Trading Plus has quickly become a reputable name in the proprietary trading firm space. Their offer of four diverse funding programs up to a substantial $2,500,000 capital underscores their commitment to accommodate a broad spectrum of traders. With an impressive 4.9/5 Trustpilot rating, traders generally regard their services highly. The firm stands out for its high 90% profit splits, which is very enticing for successful traders looking to maximize their earnings. Customer support is an essential aspect of any service, and Funded Trading Plus does not disappoint with its acclaimed excellence in this department.
Moreover, traders can benefit from a broad array of trading tools covering forex, commodities, indices, and cryptocurrencies. The firm's policies are relatively open, allowing flexibility with no trading day restrictions, and inclusive of overnight and news trading. A scaling option provides traders the opportunity to increase their capital as they prove their trading prowess. However, details on the cons associated with Funded Trading Plus are missing, which leaves potential traders without a full scope of possible downsides.
My Forex Funds At A Glance
Not to be outdone, My Forex Funds garners its own strength in the industry with an equally stellar 4.9/5 Trustpilot rating, buoyed by a massive number of over 12,000 reviews. They cater to traders of varying capacities, offering funded accounts ranging from $2,000 to a generous $50,000. My Forex Funds seems to prioritize trader education and growth with their unique bonus offer during the evaluation phase and a profit share that can reach up to 90%.
The company is transparent about its operational challenges, with evidence of a delayed response time in live chat support due to queues and some instances of slippage issues. My Forex Funds also implements diverse rules including a Consistency Rule, which may ease or enforce trading styles differently as compared to Funded Trading Plus. They offer no time limits on their Evaluation Program, which provides traders with a stress-free environment to prove their skills.
Comparison of Trading Conditions and Instruments
When it comes to trading conditions, both firms offer competitive environments. Funded Trading Plus is inclusive in its approach by allowing all kinds of trading strategies and schedules with no day restrictions. This may be highly beneficial for traders with varying schedules and strategies. However, it is crucial to take note of the set rules like Maximum Daily Loss and Trailing Drawdown, which serve as risk management measures.
My Forex Funds, while enforcing more rules, such as the Consistency Rule, reveals a mindset toward disciplined trading. Both establishments support trade in cryptocurrencies, forex, commodities, and indices, yet Funded Trading Plus also includes metals in their list. This could be a deciding factor for traders who prefer a broader range of instruments.
Financial Transactions and Account Offerings
Both firms ease the financial transactions by accepting credit/debit cards and crypto for deposits and withdrawals. This modern approach aligns with the needs of the global trading community. Funded Trading Plus offers a variety of account sizes, more so than My Forex Funds, which may appeal to traders looking for a specific level of investment.
Corporate Background and Trader Support
The longevity and establishment of a firm can play a role in trust. My Forex Funds has a slightly longer history, set up in July 2020, whereas Funded Trading Plus was incorporated in November 2021. Despite being newer, Funded Trading Plus doesn't falter in trader support, positioning itself strongly. Conversely, the delayed response times with My Forex Funds' Livechat support could be an area for the firm to improve upon.
Final Thoughts
Each firm brings unique offerings to the table. Funded Trading Plus shines with large capital offerings and flexible trading rules, suitable for aggressive traders with high ambitions. My Forex Funds provides a robust evaluation process without time pressures and caters to disciplined traders with a strong bonus structure. Ultimately, the choice between these prop firms should align with the trader’s individual preferences, trading style, and risk tolerance. Both firms demonstrate a commitment to their trader communities with their high ratings and profit sharing models.
