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My Forex Funds Comprehensive Review: A Deep Dive into the Prop Firm

Unveiling the Features and Offerings of My Forex Funds

What Is My Forex Funds? My Forex Funds is a prop firm located in Canada. It was founded in 2020 so it already has some experience with funding traders.

What Can You Trade With My Forex Funds? My Forex Funds is a prop firm that funds traders to trade Forex and other CFDs trading assets. Here’s a list of all of the instruments: Forex: Major and minor currency pairs, Indices, Metals: Gold, Silver, and Palladium, Commodities: Crude oil, Cryptocurrencies: BTC, DASH, ETH, and LTC.

Exploring Account Sizes and Leverage Options

My Forex Funds funds traders with account balances that go from $2,000 up to $300,000. These accounts can be scaled up to $2,000,000 as you keep having good results trading. The leverage provided by the prop firm depends on the instrument category that you are trading. Here’s the list of leverage by category: Forex pairs: 1:100, Metals: 1:100, Commodities: 1:100, Indices: 1:100, Cryptocurrencies: 1:5.

Understanding the Profit Splits and Programs Offered

The profit split is different according to the product that you chose. Here’s the payout for each product: Rapid: 12% of all profits are shared with the trader, Evaluation: Starts at 75% for the first month, then 80% for the second month, and 85% for the third month, Accelerated: 50% of the profits are split with the trader.

My Forex Funds Reviews: According to Trustpilot, My Forex Funds is classified as excellent. It’s scoring an impressive 4.9/5.0 after more than 12,000 reviews from users.

Diving Deep into the Trading Programs

My Forex Funds Rapid: This program is made for traders with some knowledge about trading. It’s good to understand how prop firms work and you get paid as you gain experience. The entry cost is low.

My Forex Funds Evaluation: The Evaluation program was created for experienced traders. You must prove your experience in a quick 2-phase evaluation process.

My Forex Funds Accelerated: The Accelerated program was made for traders that want immediate funding with a bigger profit split than the Rapid. The accounts also scale up frequently as you keep having good results.

Expert Advisors and Trading Conditions

If you like to use EAs to trade, My Forex Funds is a great prop firm for you. They allow EAs although some types of strategies are banned. There are no restrictions on news trading.

Legitimacy and Alternatives

Is My Forex Funds Legit? Yes, My Forex Funds is a legit company. You can also consider alternatives such as FTMO, FundedNext, and E8 Funding.

Recap: My Forex Funds is a prop trading firm based in Canada. You can get a funded account with up to $2,000,000 in balance and up to an 85% profit split payout. To get access to a funded account you have two options: instant funding programs or a two-phase challenge program. You can trade Forex and other CFDs like Indices, Metals, Commodities, and Cryptocurrencies. The popular MT4 and MT5 platforms are available to trade.