MyForexFunds Review

2022 – The Best Prop

Firm?

MyForexFunds

9.4

FUNDING 10.0/10

PLATFORM CHOICES 9.5/10

EDUCATION OFFERED 7.5/10

STRICT RULES 10.0/10

REPUTATION 10.0/10

PROS
- FUNDING UP TO $1.3M
- INSTANT FUNDING WITH NO CHALLENGE
- FUNDING FOR BEGINNER TRADERS
- HIGHEST PROFIT SHARE
- RELAXED TRADING RULES

GET INSTANT FUNDING NOW!

With so many new prop firms coming into the

market and offering forex traders funding of up to
$1,000,000, it can be a tricky task to figure out
which firm is going to be the best for you to be
working with. Each prop firm has their own pros,
cons and rules which can make or break them for
forex traders, depending on how you like to trade
the markets!

In this article, we are going to be looking at

MyForexFunds . This is a fairly new prop firm,
founded in July of 2020 and has funded around
40,000 traders around the world so far. They offer
3 very interesting funding models and a huge
scaling plan up to $1,350,000, making it the largest
fund in the market! Let’s find out more…

Article Contents [show]

W h o A re M y Fo re x Fu n d s ?
MyForexFunds are a fairly new player on the scene,
founded just a year ago in July 2020. As of 2022,
they had a small brand and have now funded over
40,000 traders with forex trading capital. The firm is
rapidly becoming a director competitor of some of
the largest and more established companies, due to
the great reputation and very similar trading
conditions offered. As I keep updating this article
every few weeks, it’s becoming clear that this is the
fastest growing prop firm in 2022!

Unlike a lot of companies offering to fund forex

traders, they have 3 different levels or structures,
depending on your experience as a trader, ranging
from brand new to full time traders!

Research

1. Safe Investment Options ›

Brokerage Checking
2. ›
Account

How To Start Investing In

3. ›
Stocks
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If you’re looking to grow a large trading account and

potentially pull large profits out of the markets, this
could be the company for you… Let’s find out more
about the pros and cons and how MyForexFunds is
rapidly taking over the prop firm industry, with over
1200 reviews in just a few months…

P a y m e n t P ro o f – M y
W i t h d r a w a l Fro m
M y Fo re x Fu n d s

Whenever I am looking at prop firms and brokers, I

really like to see payment proof. Without payment
proof from other traders, even with good reviews it
can be hard to trust a company that seems too good
to be true. Luckily, MyForexFunds are consistently
paying my withdrawals! I contact the live support
team at the end of the month to request a
withdrawal.

At the time of my latest withdrawal, they mentioned

that they usual payment processor was having a few
delays but I could either wait 3-5 days, or take a
crypto withdrawal instantly if I wanted. I opted for
the crypto withdrawal and they paid me my profits
the same day – I’m very impressed with how quickly
the payment actually arrived.

6-13mm L-
shaped
Hexagon…

Exciting Price Everyday

Temu

The Withdrawal Process

I have now had 4 withdrawals from MyForexFunds,
all of which were paid on time and in full. I contacted
the support team for assistance and they were
extremely helpful. In terms of the bitcoin
withdrawals, it seemed to work within 2 stages…

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1. Your withdrawal gets approved. This stage has

been taking on average 2 days for me in the last
few months.

2. Your withdrawal gets processed. From the actual

time of processing, to arriving in my
cryptocurrency wallet was about 30-45 minutes.

I have now started taking withdrawals directly to my

bank, instead of using Cryptocurrency wallets. This
is a big relieve for me and many other traders, I’m
sure, as Crypto is a bit of a hassle when you’re
dealing with company accounts.

G e t t i n g Fu n d i n g Fro m
M y Fo re x Fu n d s

As mentioned previously, they are offering 3

different types of account depending on your
experience levels, which is great. Throwing a new
forex trader in with a $100,000 live account and
very strict rules is quickly going to end in disaster, so
breaking down the different categories depending
on experience seems like a really nice idea and that
makes MyForexFunds quite unique from other forex
prop firms . Let’s have a look at the options..

R a pid A ccount

The rapid account option is for traders that are

either just reaching consistency, or haven’t been in
the markets for too long. With a rapid account, you
will pay a one time, refundable fee (depending on if
you are profitable or not), which allows you to trade a
demo account for the company.

You have very relaxed rules on these accounts, for

instance a maximum daily drawdown of 5%, with a
total maximum drawdown of 12%. Leverage ranges
from 1:50-1:500 and you must trade at least 3
times per week. The best thing is that you don’t
have any profit targets! However, 12% of what you
make on the demo account will be paid into a live
account for you.

This means you can literally trade a demo account,

practice in the markets, grow your trading
experience and they will pay you real profits for the
privilege!

Eva lua tion A ccount

Next we have the evaluation accounts, ranging from

$10,000 to $200,000 in funding. This is going to
be for profitable traders that experienced within the
financial markets. You will be paying a one time fee
for a 2 step challenge, very similar to FTMO or
5%ers for example – just slightly cheaper!

The profit split will be up to 85%, should you pass

the challenge process, which is industry leading! You
have to trade for a minimum of 10 days during the
30 day process and through the 60 day stage 2
challenge too. You’ll have a maximum daily
drawdown of 5%, with an overall maximum
drawdown of 12%. The profit target is 8% in stage 1
and 5% in stage too, which again is one of the
easiest to pass in the industry! Leverage for these
accounts is fixed at 1:100.

A cce le r a te d A cco u n ts

The accelerated accounts are my favourite funding

method offered by MyForexFunds. This is instant
funding, with no challenge, no verification and no
monthly fee! You will INSTANTLY have access to
the trading capital, ranging from $2000 to
$50,000. This is more expensive than doing a
challenge of course because the company is taking
on much more risk than they do by checking your
performance first, so that is why the $50,000
account commands such a high price ticket.

Two account types are offered, with conventional

and empathic. They are both exactly the same, apart
from the fact that the perimeters have been doubled
for empathic accounts. This means that the next
milestone to increase funding requires 20% gain,
rather than 10%, the overall maximum drawdown is
10%, rather than 5% and the initial fee is doubled as
well!

This is by far my favourite way to quickly access

trading funding, whether you’re looking to test a
strategies viability within the live markets or pull
profits out to grow your own accounts, instant
funding will save you months of demo trading to
pass challenges! The majority of our top forex prop
firms list don’t offer instant funding and make you
trade for upwards of 2 months before making a
penny – what a waste of good trades?!

W h a t M a ke s M y Fo re x Fu n d s
D i f fe re n t Fro m A n y O t h e r
P ro p F i r m ?

There isn’t much to differentiate MyForexFunds

from any of the other leading prop firms in the
industry like FTMO for example, besides the
Accelerated account that offers instant funding the
same day. If you have a look at my in depth review of
trading with FTMO, you’ll quickly notice that the
trading experience provided, the costs, the profit
shares and even the rules are very much similar to
this company.

Being similar to other leading proprietary funds

really isn’t a bad thing though, especially if you’re a
profitable trader. Let’s say that hypothetically you
are trading with FTMO and have $100,000 in
funding. You then set up a trading copy system ,
which is allowed under the rules that MyForexFunds
sets out. You then pass a $100,000 challenge here
because the rules and conditions are so similar, now
you have doubled your trading capital extremely
quickly and reduced your exposure to just one
trading firm.

How Does MyForexFunds Compare

To FTMO?

FTMO are obviously the grandfather of the

industry. They were the first to the party and really
laid the ground for the rest of the prop firms to walk
on, including MyForexFunds.

It’s extremely hard to pick apart either offering – I’ve

been a loyal fan and customer of both prop firms for
a long while now and I think they both have their
place.

I would agree that FTMO has more of a backend and

infrastructure in place as they’re further along their
journey into corporate growth. On the flip side, I
really don’t see this as an issue and I have always
received all the support I needed from the MFF
team.

I personally take the stance of, ‘I’d rather work with 2

prop firms, than 1’. This is purely because I setup
copy trading tools to replicate my trades onto
multiple accounts at once. If you have the means
and the option to do so, I’d highly recommend
working with both firms and having multiple funded
accounts.

Apologies if this wasn’t the clean cut answer you

were hoping for – both of the offerings are
absolutely brilliant!

How Is MyForexFunds Comparing

To TheFundedTrader?

TheFundedTrader is maybe the 2nd fastest

growing prop firm in the forex industry. It’s only been
around for a few months now but the reception has
been massive and traders all around the world are
absolutely loving the offering.

With that being said, which do I prefer?

I have worked with MyForexFunds and

TheFundedTrader over the last 6+ months and I
would say that their offerings are incredibly similar.
Both companies follow the standard challenge
model that FTMO created many years ago.

In terms of the capital on offer, both companies are

in the same ballpark. I would argue that TFT has
better marketing and more on offer for traders, in
terms of gimmicks. I believe that MFF offers much
less in this arena but I don’t gauge that as being
overly important.

As of right now, I am still leaning more forwards

MyForexFunds purely as they have stood they test
of time and been around for longer. Not only that,
they have twice as many reviews on popular forums.

In all honesty, I am funded with both of these

competitors and I couldn’t be happier – I would
highly recommend reading my full The Funded
Trader review , checking out my withdrawals and
perhaps signing up to both funding options!

BluFx Or MyForexFunds?

BluFx is a completely different prop firm model

compared to the standard model that
MyForexFunds is operating with. What do I mean by
this?

Well, in essence, with BluFx you rent a trading

account with a monthly fee. You would be paying a
small monthly fee and be immediately given a small
amountFind
Your your
next hotel
of trading perfectis With this capital, you’re
capital.
waiting
somewhere for ™you
given strict limits, rules and a 50% profit split.
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