Myfundedfx Review
Myfundedfx, with a commitment to transparency and trader success, stands out as a beacon of opportunity, offering not only competitive funding options but also a robust support system designed to nurture traders at every level, empowering them to harness their skills and achieve financial independence.
Pros
Multiple (5) funding programs
Account sizes up to 200 000$
leverage upto 1:100
First payout after 7 or 14 days (depending on program)
80% profit split
Balance-based drawdown
Overnight and weekend holding allowed
No maximum trading days
Large variety of trading instruments available (Forex pairs,crypto pairs,commodities and indices available)
Cons
In the fast-paced world of proprietary trading, MyFundedFx has emerged as a promising option for traders seeking funding opportunities. Myfundedfx has quickly gained traction among traders since its inception in 2022 with aim to provide aspiring traders with robust funding opportunities and a supportive trading environment.
What To Know About Myfundedfx?
Established in June 2022, Myfundedfx, headquartered at 100 Crescent Court Suite 700, Dallas, TX 75201, USA, has quickly positioned itself as a promising player in the trading industry. Under the guidance of its CEO Peter Leech, the firm offers a diverse range of trading instruments, including crypto, commodities, forex, and indices, providing traders with ample opportunities to excel. By fostering innovation and empowering individuals to refine their skills, Myfundedfx has become a rising name in the financial markets, paving the way for traders to thrive in a competitive landscape.
Funding Programs Offered
Myfundedfx provides four distinct funding plans that are tailored to accommodate a wide range of trading personalities, degrees of experience, and appetites for risk, providing you with access to considerable money and clear profit-sharing structures.
- 1-Step Challenge
- 2-Step Challenge
- 2-Step Max Challenge
- 3-Step Challenge
1-Step mffx Challenge
The Myfundedfx 1-Step Program is a unique evaluation funding program for traders. it has funding accounts reaching up to $100,000 and a minimal trading leverage of 1:30. With this program, Once you’re funded, you can withdraw your profits bi-weekly.
Account Size | Price |
---|---|
$5,000 | $50 |
$10,000 | $100 |
$25,000 | $200 |
$50,000 | $300 |
$100,000 | $500 |
The evaluation phase requires traders to achieve a 10% profit target without exceeding a 4% maximum daily loss or a 6% maximum trailing loss. There are no maximum number of trading days in this phase. To advance to a funded account, traders only need to meet the 10% profit goal while adhering to the maximum loss limits with 3 minimum profitable days, realising 0.5% profits each of the days.
Upon successful completion of the evaluation phase, traders gain access to a funded account. Traders must continue to respect the drawdown parameters as during evaluation. The withdrawal frequency from this program is biweekly, with up to 80% profit splits
1-Step Challenge Trading Rules & Parameters
Profit Target: During the evaluation phase only, a profit performance of 10% is required.
Daily Loss Limit: All accounts are assigned a maximum daily loss threshold, set at 4% for all account sizes, which they cannot exceed in a single trading day.
Max Loss Limit: The maximum loss is set at 6% for all trading account sizes during the evaluation and funded stage.
Restrictions on News Trading: Trading is restricted during high-impact news events. Specifically, opening new trades or closing existing ones is forbidden within 3 minutes before and after such news releases on funded accounts only.
Maximum Trading Days: There are no maximum trading days on both evaluation and funded accounts.
2-Step mffx Challenge
Myfundedfx 2-Step Program is a 2-phase funding program. This program includes accounts up to $100,000 with a leverage ratio of 1:30. Once funded, traders can start trading immediately and are eligible to withdraw their profits on a biweekly frequency.
Account Size | Price |
---|---|
$5,000 | $50 |
$10,000 | $100 |
$25,000 | $200 |
$50,000 | $300 |
$100,000 | $500 |
The evaluation phase requires traders to achieve a profit target of 8% during phase 1 and 5% at phase 2, with a daily loss limit of 5% and a maximum overall loss of 8%. Traders must complete 3 minimum profitable days with 0.5% profits to realise in each of the days to be counted. Upon passing, traders move to the funded account, where they keep 80% of profits they generate.
2-Step Challenge Trading Rules & Parameters
Profit Target: Phase 1 requires a profit target of 8% and Phase 2 a profit target of 5%.
Daily Loss Limit: All accounts are assigned a maximum daily loss threshold, set at 5% for all account sizes, which they cannot exceed in a single trading day.
Max Loss Limit: The maximum loss is set at 8% for all trading account sizes during the evaluation and funded stage.
Restrictions on News Trading: Trading is restricted during high-impact news events. Specifically, opening new trades or closing existing ones is forbidden within 3 minutes before and after such news releases on funded accounts only.
Maximum Trading Days: There are no maximum trading days on both evaluation and funded accounts.
2-Step Max mffx Challenge
Myfundedfx 2-Step Max Program is a 2-phase funding program. This program includes accounts up to $100,000 with a leverage ratio of 1:30. Once funded, traders can start trading immediately and are eligible to withdraw their profits on a biweekly frequency.
Account Size | Price |
---|---|
$5,000 | $38 |
$10,000 | $75 |
$25,000 | $140 |
$50,000 | $210 |
$100,000 | $425 |
During phase 1 of the evaluation, traders are required to achieve a profit target of 10%, with a daily loss limit of 5% and a maximum overall loss of 10%. Traders must complete 3 minimum profitable days with 0.5% profits to realise in each of the days to be counted.
At the second phase of the evaluation, traders are required to achieve a profit target of 5%, with a daily loss limit of 5% and a maximum overall loss of 8%. Traders must complete 3 minimum profitable days with 0.5% profits to realise in each of the days to be counted.
Upon passing both phases of the evaluation, traders can move to the funded stage with no more profit targets and a max daily loss limit of 4% and an 8% overall loss limit. With this program, traders can keep 80% of their profits and withdraw biweekly.
2-Step Max Challenge Trading Rules & Parameters
Profit Target: Phase 1 requires a profit target of 10% and Phase 2 a profit target of 5%.
Daily Loss Limit: All accounts are assigned a maximum daily loss threshold, set at 5% for all account sizes, which they cannot exceed in a single trading day.
Max Loss Limit: The maximum loss is set at 10% during phase 1 and 8% during phase 2 and funded.
Restrictions on News Trading: Trading is restricted during high-impact news events. Specifically, opening new trades or closing existing ones is forbidden within 3 minutes before and after such news releases on funded accounts only.
Maximum Trading Days: There are no maximum trading days on both evaluation and funded accounts.
3-Step mffx Challenge
Myfundedfx 3-Step Program is a 3-phase funding program. This program includes accounts up to $100,000 with a leverage ratio of 1:30. Once funded, traders can start trading immediately and are eligible to withdraw their profits every 5 days.
Account Size | Price |
---|---|
$10,000 | $70 |
$25,000 | $150 |
$50,000 | $225 |
$100,000 | $375 |
During phase 1 of the evaluation, traders are required to achieve a profit target of 6%, with a daily loss limit of 4% and a maximum overall loss of 8%.
At the second phase of the evaluation, traders are required to achieve a profit target of 6%, with a daily loss limit of 4% and a maximum overall loss of 8%.
Upon passing both phases of the evaluation, traders can move to the funded stage with no more profit targets and a max daily loss limit of 4% and an 8% overall loss limit. With this program, traders can keep 80% of their profits and withdraw biweekly.
3-Step Challenge Trading Rules & Parameters
Profit Target: Phase 1 requires a profit target of 6%, Phase 2 requires a profit target of 6%, and Phase 3 requires 6%.
Daily Loss Limit: All accounts are assigned a maximum daily loss threshold, set at 4% for all account sizes, which they cannot exceed in a single trading day.
Max Loss Limit: The maximum loss is set at 8% on all accounts with this program.
Maximum Trading Days: There are no maximum trading days on both evaluation and funded accounts.
Myfundedfx Scaling Plan
Myfundedfx scaling plan is designed to help traders grow their accounts steadily while practicing strong trading performance and discipline. With this plan, the initial simulated balance of your demo account can increase by 25% every three months if specific criteria are met. This provides you with the opportunity to work with larger balances as you refine your skills and prepare for future opportunities.
In order to be eligible for a scale-up, your trading account must begin at its initial balance, which implies that you cannot carry over any previous gains or losses. Additionally, you must achieve a total simulated profit of 12% or more within the designated 90-day period (3 months) before you submit a request for the scale-up. The plan rewards consistent and disciplined trading by measuring sustained profitability over time.
Example:
Month 1: Simulated profit of +6% on the starting balance
Month 2: Simulated loss of -3%
Month 3: Simulated profit of +9%
Across the three months, your total simulated profit would be calculated as follows:
+6% (Month 1) – 3% (Month 2) + 9% (Month 3) = 12% total simulated profit.
Since the combined simulated profit meets the required 12% threshold, you qualify for a 25% increase in your trading account’s initial simulated balance. For instance, if your starting balance was $10,000, your new scaled-up balance would be $12,500 starting the next 3-month period.
Which Broker To Trade on Myfundedfx?
MyFundedFX collaborates with Purple Trading Seychelles and Quality FX Ltd to provide exceptional trading solutions. These partnerships ensure access to top-tier brokerage services, enhancing the overall trading experience. With reliable brokers at its side, MyFundedFX empowers traders to excel in the competitive trading markets.
Trading Platforms
MyFundedFX provides the flexibility to choose between leading trading platforms tailored to your preferences. If you select Purple Trading Seychelles as your broker, you can trade on cTrader, while if you select Quality FX Ltd, you gain access to MetaTrader 5 (MT5). Traders also have the possibility to choose match-trader platform.
Payout Proofs
MyFundedFX offer multiple challenges—Two-step, Two-step Max, One-step, and Three-step—with payout withdrawal frequency varying from 5 to 14 days based on the challenge. Traders can earn a generous profit split of 80% to 92.75%, depending on performance. Payout proofs from Myfundedfx are widely available on Trustpilot, Discord, and YouTube.Below are example of some payout proofs:
What Makes Myfundedfx Different From Other Propfirms
MyFundedFX stands out from other proprietary trading firms by providing unmatched flexibility and trader-friendly features. With four funding programs offered, they cater to a wide range of trading strategies and preferences. Their payout frequency, ranging from as quick as 5 days to a maximum of 14 days, ensures traders are rewarded promptly for their success. Unlike many firms, MyFundedFX imposes no time limit to hit targets, allowing traders to perform at their own pace. They also offer competitive leverage of 1:30, empowering traders to manage risk effectively while maximizing potential gains. With access to industry-leading platforms cTrader, MetaTrader 5, and Match-Trader, MyFundedFX ensures every trader has the tools to excel. These unique features combine to create a supportive and dynamic trading environment that sets MyFundedFX apart from the rest.
Example of comparison between Myfundedfx and FXIFY
Guide | MyFundedFX | FXIFY |
---|---|---|
Phase 1 Profit Target | 10% | 10% |
Phase 2 Profit Target | 5% | 5% |
Maximum Daily Loss | 5% in Phase 1 4% in Phase 2 & Once Funded (Scalable up to 8%) | 5% |
Maximum Loss | 10% in Phase 1 8% in Phase 2 & Once Funded (Scalable up to 14%) | 10% |
Minimum Trading Days | 3 Profitable Days | 5 Calendar Days |
Maximum Trading Period | Phase 1: Unlimited Phase 2: Unlimited | Phase 1: Unlimited Phase 2: Unlimited |
Profit Split | 80% up to 92.75% | 75% up to 90% |
Example of comparison between Myfundedfx and Funded Trading Plus
(Read Funded Trading Plus Review)
Trading Objectives | MyFundedFX | Funded Trading Plus |
---|---|---|
Profit Target | 10% | 10% |
Maximum Daily Loss | 4% (Scalable up to 6%) | 4% |
Maximum Loss | 6% (Trailing, Scalable up to 12%) | 6% (Trailing) |
Minimum Trading Days | 3 Profitable Days | No Minimum Trading Days |
Maximum Trading Period | Unlimited | Unlimited |
Profit Split | 80% up to 92.75% | 80% up to 100% |
What Instruments Are Available To Trade?
Myfundedfx offers Forex, commodities, indices, and cryptocurrencies as trading instruments, with all of them being different and providing room for traders to trade on different markets. You will find a complete listing of the instruments available for trading below.
Forex Pairs
AUD/CAD | AUD/CHF | AUD/CNH | AUD/JPY | AUD/NZD |
AUD/USD | CAD/CHF | CAD/JPY | CAD/SGD | CHF/JPY |
ERU/HUF | EUR/AUD | EUR/CAD | EUR/CHF | EUR/CZK |
EUR/GBP | EUR/HUF | EUR/JPY | EUR/NOK | EUR/NZD |
EUR/PLN | EUR/SEK | EUR/SGD | EUR/TRY | EUR/USD |
EUR/ZAR | GBP/AUD | GBP/CAD | GBP/CHF | GBP/JPY |
GBP/NZD | GBP/USD | GBP/ZAR | NZD/CAD | NZD/CHF |
NZD/JPY | NZD/SGD | NZD/USD | SGD/JPY | USD/BRL |
USD/CAD | USD/CHF | USD/CNH | USD/HKD | USD/HUF |
USD/JPY | USD/MXN | USD/NOK | USD/PLN | USD/SEK |
USD/SGD | USD/TRY | USD/ZAR |
Commodities
XAG/USD | XAU/AUD | XAU/CNH | XAU/EUR | XAU/GBP |
XAU/SGD | XAU/USD | XPT/USD | UKBRENT | USWTI |
WTI | BRENT |
Indices
AUS200 | ESTX50 | FRA40 | GER40 | UK100 |
JPN225 | NAS100 | SPX500 | US30 | CHINA50 |
HK50 | SPAIN35 | USDINDEX | VIX | US2000 |
TAIEX | AU200 | DJ30 | FR40 | GER30 |
JP225 | SP500 | STOXX50 | CHINAH | NETH25 |
VIXIndex |
Cryptocurrencies
ADA/USD | BCH/USD | BTC/USD | DOT/USD | EOS/USD |
ETH/USD | LNK/USD | LTC/USD | XLM/USD | XRP/USD |
Restricted Countries
Myfundedfx restricts access in certain countries due to legal, regulatory, and financial reasons. These restrictions help ensure compliance with international laws and local trading restrictions. Some countries have specific rules or currency controls that prevent Myfundedfx from offering its services, so the firm limits its availability to stay within legal boundaries and maintain a secure trading environment. Below is a list of countries restricted:
Cuba | Iran | Lebanon | Syria | North Korea |
Libya | Russia | Sudan | Somalia | South Sudan |
Pakistan | Vietnam | United Arab Emirates | Hongkong | Belarus |
Myanmar | Central African Republic | Democratic Republic of Congo | Congo | Ethiopia |
Iraq | Nicaragua | Venezuela | Yemen | Philippines |
Kenya | Algeria | Morocco |
Is Achieving Myfundedfx Funding Possible?
Reaching the funded stage can be achieved, but it will require personal sacrifice and respecting discipline, as well as having a good trading plan. With its various funding programs offered, Myfundedfx seeks to evaluate a trader’s consistency and risk management, providing opportunities for professional traders who wish to demonstrate their skills and gain access to funds to advance their trading careers. If you’re willing to work hard, MyFundedFx will make your funded trading a reality.
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