My Forex Funds (MFF)

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My Forex Funds (MFF)

My Forex Funds (MFF) is a proprietary trading firm (prop firm) that offers funded trading accounts for forex and CFD traders. Founded in 2020 and headquartered in Toronto, Canada, MFF has gained significant popularity for its variety of funding programs and trader-centric policies. Here's an in-depth look:

Key Features

Funding Programs

  1. Evaluation Program
    • Phases: Two phases.
    • Profit Targets: Typically 8% in Phase 1 and 5% in Phase 2.
    • Drawdown Limits: Daily drawdown of 5% and maximum drawdown of 12%.
    • Account Sizes: Ranges from $10,000 to $300,000.
    • Trading Period: 30 days for Phase 1 and 60 days for Phase 2.
  2. Accelerated Program
    • Phases: One phase with no evaluation.
    • Profit Targets: No targets since it's a direct funding model.
    • Drawdown Limits: 5% daily drawdown and 10% overall drawdown.
    • Account Sizes: Varies up to $50,000.
    • Features: Direct funding with a higher initial fee.
  3. Rapid Program
    • Phases: Continuous trading without evaluation phases.
    • Profit Sharing: Starts at 12% and increases up to 50% over time.
    • Drawdown Limits: 5% daily and 12% overall.
    • Account Sizes: Up to $100,000.
    • Trading Period: No set duration; traders earn based on consistent profitability.

Trading Rules

  • Instruments: Forex, commodities, indices, and cryptocurrencies.
  • Leverage: Up to 1:100.
  • Platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

Payouts

  • Profit Split: Up to 85%, depending on the program and trader performance.
  • Frequency: Typically bi-weekly or monthly.
  • Payment Methods: Includes bank transfers, cryptocurrencies, and e-wallets.

Fees

  • Evaluation Fees: One-time fee based on account size.
  • Accelerated Program Fees: Higher due to direct funding.
  • Rapid Program Fees: Lower fees, continuous trading.

Trader Support

  • Educational Resources: Provides webinars, market analysis, and trading guides.
  • Community: Engages traders through forums and social media channels.
  • Customer Support: Available via email, chat, and phone.

Pros and Cons

Pros

  • Diverse Programs: Options catering to different trader profiles.
  • High Profit Split: Competitive profit-sharing model.
  • Trader Resources: Extensive educational materials.

Cons

  • Drawdown Limits: Strict drawdown rules can be challenging.
  • Fees: Higher for the Accelerated Program.

Reputation

My Forex Funds has built a strong reputation within the trading community for its flexible funding options and supportive trading environment. Reviews often highlight their customer support and the straightforward nature of their programs.

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