MFF offer a diversified number of trading instruments and assets. However, upon completion of phase two, youll get 2% of the profit you made in the first phase. We also have one of the largest forex chatrooms online! Forex Funding Group is always encouraging traders to practice good, safe trading. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); MyForexFunds is a popular proprietary trading firm that offers funds for Forex, metals, CFDs and cryptocurrency trading. The only reason you need to scale up your account is to meet your 10% profit target. If we notice someone using these services, we will suspend their account. In addition, this program is looking for traders who can display consistency and accuracy in trading and excellent risk management skills. Let me walk you through a scenario. This is not the case; instead, we make decisions that are in the traders best interests. Funding from MFF can be as low as $2,000 to start but can get as high as $2 million due to a favorable scaling plan though this is determined by the type of funded program selected by the trader. No trader at Forex Funding Group will be liable for any trading losses. The adventure of trading this program is not over yet! The key to being a successful forex trader is coming up with trading plan that enables you to withstand these periods of large losses. In addition to the above dashboard, we need to provide further proof of a legitimate payout and the evaluation certificate from MyForexFunds. You are responsible for making sure your account credentials are safe. Here, your profit target is 8% and you must achieve it within the first 30 days of placing your first trade. Track your progress and learn at your own pace. If I were to describe the MFF dashboard in one sentence, it would be makes trading easier and more efficient. How and when can traders get the bonus attached to the Rapid program? My Forex Funds - Evaluation Standard - ($200,000 account) Thread starter The Erect Trader; Start date Aug 5, 2021; . They also offer a performance challenge with no daily drawdown limit, that should you pass, you could get funded up to $2,000,000 to trade with and a profit split of 85%! Drawdown Rules. All payout requests must be submitted by 3 pm EST, or they will be postponed till the next pay period. Since you wont have to stick to restrictions or rules, I think traders like me were eager to trade this account because there would be less stress involved. You should note that the target for all the Conventional account sizes is 10% to reach the next milestone and the overall drawdown is 5% of the starting account balance. If you do so, thank you, your support helps us keep the keep creating great content for free! List any questions you have surrounding my forex funds daily drawdown rule OR FTMO daily drawdown rule below in the comments!----------------------------PERSONAL BROKER CHOICE - https://fwd.cx/Iqsw5slZdkvXAccount chosen - Standard STP Myforexfunds link - https://myforexfunds.com/?wpam_id=14896Use Code 'Matt5' for 5% off your evaluation purchase!Find me: ** Business Enquiries - matt@matttomillion.co.uk ** Instagram - https://www.instagram.com/matttomillion ** Mentorship - www.matttomillion.co.uk00:38 - 00:55 - Balance vs Equity00:55 - 01:16 - Key point 101:17 - 01:24 - MFF daily drawdown01:24 - 01:47 - MFF reset time01:47 - 02:10 - Be aware of the definition!02:18 - 02:29 - MFF daily drawdown in more depth02:29 - 03:13 - MFF daily drawdown example 103:13 - 03:45 - MFF daily drawdown example 203:45 - 05:40 - MFF daily drawdown example 305:40 - 07:00 - MFF MUST WATCH daily drawdown example 407:34 - 07:57 - FTMO reset time07:57 - 08:37 - FTMO daily drawdown rule08:37 - 09:15 - FTMO daily drawdown rule example 109:15 - 09:46 - FTMO daily drawdown example 210:00 - 10:42 - EAs MUCH WATCH FTMO \u0026 My Forex Funds10:42 - 11:00 - Other quick point11:00 - 11:48 - MFF vs FTMO which is best? The earning structure at My Forex Funds (MFF) is immediate, as traders can start enjoying a specific percentage of their profits once particular objectives are achieved. We constantly are looking for the best products and best conditions for our traders. This is normally calculated by getting the difference between a relative peak in capital minus a relative trough. Therefore, it is impossible to label them as an unreliable prop trading firm. This. Traders get their profit split weekly and are eligible for their first payment within a week, but their account must be five days old to qualify for a payout. You could lose the first 30 trades in a row and win the remaining 70. You can choose between the following five evaluation account sizes: $10,000 for a one-time fee of $84. MyForexFunds Review (Withdrawal Proof & 2022 Updates) - Forex Broker Report For more information, please see our Prop firms other than FTMO and My Forex Funds often follow similar daily drawdown rule criteria but it's important to read each individual prop firm's daily drawdown rules. In my experience, there is no way I can tell you that MyForexFunds is a scam. At every payout moment, there is an option to scale up. All rights reserved. My Forex Fund's 5% daily drawdown rule works differently to other prop firms. I had to follow rules such as minimum trading days, daily starting drawdown, overall drawdown, frequency, and consistency. The overall drawdown ranges between 5% and 10%, but there are no daily drawdown limits as found in the other two programs. They were incorporated in July 2020 with offices based in Toronto, Canada. The firm also endeavors to provide adequate support to its clients to guide and help them through the process. My Forex Funds (MFF) recognizes that it is in its best interests for its clients to succeed, which is why favorable trading conditions are made available that will enhance the success of its clients in the forex market. Clients trust the firm and its services, which has only attracted more traders looking for a reliable prop firm for forex trading. I am not a financial advisor and any concepts or theories should always be tested on a demo account before being taken to the live markets. The firm provides as much information as possible about these programs on its website to ensure that traders make the right choice. The videos on my channel are for educational and entertainment purposes ONLY. With Deel, you can request your payouts with Paypal, bank transfer, Payoneer, Revolut, Mercury, etc. Appreciate you! Though they have four different funding plans for this program, I bought the $50,000 funded account for a refundable fee of $399. They are offering traders a chance to work with capital up to $2,020,000 with a generous profit split up to 85%. MyForexFunds is a Canada-based Forex Proprietary Trading firm that has been running their business remotely for quite a long time. The answer is that you dont. https://sendfox.com/rafaelkimmel Trading Platform - https://bit.ly/TV30bucks (30$ off with this link)SOCIAL: Instagram - https://www.instagram.com/rafaelkimmel/ Twitter - https://twitter.com/kimmeltradingSOCIAL: Instagram - https://www.instagram.com/rafaelkimmel/DISCLAIMER: I am not a financial adviser. I feel this refundable fee offering is something new to many forex traders. No reinstatements of accounts will occur so it is important for you to get to us as quick as you can if your account has been hacked. In our experience, My Forex Funds offers the tightest spreads for any instrument. My Forex Funds offers a unique one-step evaluation, a two-step evaluation, and an instant funding program. If you have achieved a profit of 10% or more within a 4 month period and 2 of those 4 months were profitable, we will increase your account size by 30% of the original account size. My Forex Funds 5% Daily Drawdown Explained - YouTube But remember, trading/investing of any kind involves risk. They accept payments by credit/debit card and cryptocurrency. My Forex Funds Drawdown Rule EA Kimmel Trading But, if the trader cannot display consistency, there are unlimited free retakes as long as the traders remain profitable for 30 days without any violations. My Forex Funds are one of the leading legitimate proprietary trading firms in the industry that is attracting forex traders worldwide. So, the My Forex Funds Evaluation Program is a funding program with two phases of evaluation. | How I Deal With It Eshan Bala 6.25K subscribers Subscribe 344 12K views 4 months ago #myforexfunds #eshanbala Hey guys! Trade safely, be consistent, get rewarded. By using this website you agree to our. 5 minimum trading days. I'm simply documenting my trading journey so that you have the potential to take ideas and inspiration from the videos that may help you within your own journey. Decryptopedia helps you decipher crypto jargon back into plain English. Prop trading is about your ability to trade and not about using other peoples ability to trade. You can use the bonus request form on your dashboard to request payouts, bonuses and affiliate commissions. 1 year ago 0 3559. In the next section, we will illustrate what happens when you use the proper riskmanagement and when you dont. Payment is made via cryptocurrency or Deel (Transferwise, PayPal, Bank transfer). Traders are allowed to trade with any indicator they like: Discretionary trading, hedging, algorithmic trading, and Expert Advisors; you may choose to use anything you like according to your strategy. This may sound hard, but I was able to trade well when I had a risk management plan in place from the start. Traders get paid irrespective of the profits earned, which means they control entirely the rewards they enjoy. Your trading/investments are solely your responsibility. Your profit shares will be scaled to 80% for the next two months and then be increased to 85% starting the third month after you receive your first reward. As well as the trading history, the days I traded, and the remaining evaluation days are also shown in the dashboard. Anyone with the following link: https://opencorporates.com/companies/ca/12646170 can verify their legality since we have also verified their legitimacy in Canada. It has multiple programs for traders to choose from based on their trading experience instead of lumping everyone together under one program. The bonus is 12% of the profit made by the trader. There is no profit target to achieve and you even get 12% of the profit you make here. The Funded Trader, on the other hand, offers a one-step evaluation and three two-step evaluations. Do not forget that you can neither use an EA nor use weekend holdings. Our gain and loss percentage calculator quickly tells you the percentage of your account balance that you have won or lost. Now that you get to know about the regulations and other background staffs of myforexfunds, let me walk you through the offered MFF Accounts. Payouts are done weekly, with traders getting 50% of the total profit earned on their accounts. A review will take place to determine whether you followed proper risk management practices (no excessive position size, trade numbers etc.) It is well designed with all the necessary gadgets and information put in place. Our research and experience can confirm to you that MyForexFunds did not show any signs of being fraudulent or untrustworthy. This means that traders essentially earn bonuses from the first day of participating in this program as they partake in the forex and CFD trading offered by the firm, along with the aspects of risk management involved. We, professional traders, who are always into trading face different trading situations and scenarios. And part of your trading plan is having risk management rules in place. The 8% profit target must be met within 30 days after the first trade placing. The funds can then be used to trade the forex market. We found MyForexFunds discord server very active and humming with trader interaction. However, according to my experience operating this dashboard, I can firmly say that the dashboard is just flawless. The Evaluation program has the lowest targets for traders in the market, with a mere 8% profit target for phase 1 and 5% for phase 2. Be Careful! In addition, they organized all the information a trader needed to know in a very dynamic way. We may remove a product if there are no users currently passing the phases of the evaluations due to those products. Its imperative that you have a trading plan, trading strategy and risk management profile to successfully complete the evaluation. In trading, we are always looking for an EDGE. Congratulations on passing Phase 2 of your Evaluation! We adjust our products to increase the profitability of our traders where possible. In addition, traders are qualified for scaling once every pay period. Only the registration fee must be paid, which is refunded once the trader becomes eligible for a live-funded account. In this video I will explain exactly how it works, and it's advantages and disadvantages compared to other prop firms like FTMO. During the evaluation phase you must achieve a profit target of 8% within 30 calendar days with no other rule breaches. Evaluation account My Forex Funds program, like many other prop businesses, provides experienced Forex traders with a trading platform where they may profit while trading without risking their own capital. Some reviews addressed the firms trading conditions, providing traders with fair opportunities to earn profits. Your login credentials should be sent to your email automatically. The payout I received was $2,846 and they sent it to my Deal Account upon confirmation. The reputation of a firm is totally determined by the satisfaction of its traders; the higher their level of satisfaction, the more renowned the firm becomes. Signing up myforexfunds is easy. If you receive an account suspension or termination, you may reset your account for 10% discount if you fail a challenge in 10 days and a 5% discount after 10 days. Reactions: Zimcmf and . Traders normally note this down as a percentage of their trading account. After the first month of trading, traders receive 75% of their profits. My Forex Funds accelerated program - Forex Prop Reviews Drawdown Limit : -12% See you on monday, have a nice week-end . This video will cover the difference between the My forex funds daily drawdown rule \u0026 FTMO daily drawdown rule. With scaling, traders can achieve an account size of $2,000,000! In addition, they handed us the profit split timely and accurately. Please be mindful of your trading and be sure to check your available drawdown at 00:00 server time every day. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. The three funded programs are Rapid, Evaluation, and Accelerated programs. We go through multiple layers to ensure that neither I nor MyForexReport suffer under any circumstances. Additionally, links in the description section are potentially affiliate links which helps support the channel!#eshanbala #proptrading #myforexfunds Every now and then the product list may be updated based on the availability of margin, leverage, liquidity, and various other factors. There is no substitute for hard work.Thomas Edison. If you have reached your profit-split time, firstly, congratulations. BabyPips.com helps new traders learn about the forex and crypto markets without falling asleep. Instead, they only risk a small percentage of their total bankroll so that they can survive those losing streaks. Reddit, Inc. 2023. The most positive experience I had on it was with Funding Talent, and you know what happened to them last year. My Forex Funds, on the other hand, also offers a unique one-step evaluation, two-step evaluation, and instant funding programs. If, however, you participate in risky trading and breached the daily drawdown, you will not receive payout of your profits for a breach of the daily drawdown whilst in profit. My Forex Funds Review: Are They Legit? (2023 Update) We ALLOW news trading, scalping, long term trading, short term trading etc. MyForexFunds is one of the pioneers in introducing Discord among the prop traders. This means, at no extra cost to you, we may earn a small commission if you make a purchase. Please get in touch with. Scan this QR code to download the app now. But, there are some rules after all: 5% daily drawdown. We introduce people to the world of trading currencies, both fiat and crypto, through our non-drowsy educational content and tools. Today Ill be sharing how my trading journey has been with MyForexFunds. They started their operation at the time of Corona, July 2020. So you cant really see your trading information with a few taps and swipes unfortunately. The table below shows the available Conventional account sizes on the Accelerated program and their respective features. This full refund is in addition to the traders share of the profit split. The table below shows the various account sizes in the Rapid account program. How To Calculate Currency Correlations With Excel. This is Marco Di Chiara, the MyForexReport trader and senior trade analyst. Traders can take their time developing into experienced traders without worrying about the number of trading days left in a calendar month. They can choose a suitable account size and fee and then upgrade as they earn. and we may, at our discretion, issue you your profit share at the time of termination. MyForexFunds Review (2023) - Our Real Experience With MFF Either way, the trader gains access to a funded account once the Evaluation program is completed. This is why riskmanagement is so important. We ALLOW news trading, scalping, long term trading, short term trading etc. We're also a community of traders that support each other on our daily trading journey. Welcome to FXGears.com's Reddit Forex Trading Community! For you to begin your career as a Forex Funded Trader, the My Forex Funds Prop Firm offers a variety of programmes. My Forex Funds - Evaluation Standard - ($200,000 account) This means that you will be starting over from Phase 1. What is the profit-sharing like in the Evaluation program, and how is it paid? I'm simply documenting my trading journey so that you have the potential to take ideas and inspiration from the videos that may help you within your own journey. MyForexFunds is a Canada-based Forex Proprietary Trading firm that has been running their business remotely for quite a long time. *The links used in the description help to support the channel* This video is all about the My Forex Funds daily drawdown rule. Breaching this will result in a termination of your account. 1200 for a 10K account). In this program account, you will defend a maximum drawdown of 12% here and 5% every day. We did a thorough reputation and reliability research on My Forex Funds. 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! At My Forex Funds, we are looking for individual traders to grow with us long term. . You can trade 48 forex currency pairs, 4 commodity pairs, 10 indices and 4 cryptocurrencies. My Forex Funds Review 2023 - Pros, Cons and Ratings Last Updated on March 4, 2023 by Marco Di Chiara. You can look at the image below or visit their Discord for further information to help you understand. The account sizes for this program range from $10K to $200K. They dont have tools like Pip calculator, lot size calculator, currency converter or economic calendar. We encourage you to keep a trading journal, practice sound risk management practices, take your time and be sure to always maintain healthy psychology when trading. Many traders on different forums also complained about this since some of them even had to wait 10 to 15 minutes for instant support.If you ignore such events, then you really cant complain about the quality of the support. A lot of you guys are. However, besides this, we contacted individual My Forex Funds traders to inquire about their trading experience with My Forex Funds. This rule may not apply if you have submitted your expert adviser or bot for prior approval and approval has been granted. Some of its programs feature daily drawdown limits and overall drawdowns simultaneously. Cheapest accounts for Forex prop firms: Best prices. All signals must be your own and based on your own set up. Since I traded the Rapid Program, here I added the payout I received to their promised 12%. The initial payout will be distributed within 30 days of the first trade being executed on a funded account. The funds can then be used to trade the forex market. Anyone part-taking in such activities will have their trades adjusted to the executed fill price that we have received from the liquidity pool. 1- 5% daily drawdown - This is floating drawdown. Two-step Comparison: Those that do, shouldnt be punished. If the trader is operating a Consistency account, he will be paid bi-weekly, but if it is a Non-consistency account, the bonus will be paid monthly. How do the payouts work in the Accelerated program? In the following attachments youll find what weve talked with them regarding My Forex Funds and their proof of claims.
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