MyFundedFx is a forex prop firm with an attractive Two-step challenge. They offer up to $200,000 in funding to traders.
- Quick funding guaranteed
- Assured cryptocurrency trading is available on weekends
- Gain access to a maximum of $1.5 million in trading money
- Established a strong reputation through collaboration with Eightcap
- Potential to get up to $300,000 in capital funding
- Benefit from an 80% profit-sharing opportunity
- No trial period is available for testing the platform
- Questionable long-term reliability due to being a recently established company
- Trader earnings may be affected by the percentage of high-profit share
- Not all trading styles may be compatible with limited trading methods
- Absence of clarity in results and allocation of profits
- Insufficient educational materials for empowering traders
What is My Funded FX?
My Funded Fx is a prominent site catering to forex traders striving for success. It provides access to trading funds of up to $300,000 as well as an 80% profit split. The platform has rapidly gained popularity in the sector, drawing several traders seeking funding opportunities.
My Funded Fx differentiates itself from competitors with its aggressive expansion strategy, enabling traders to access up to $1,500,000 in trading capital.
My Funded FX Funding Programs and Challenges: Rules and Requirements
Realistic Challenges:
My Funded Fx provides genuinely attainable fundraising challenges. The 1-step challenge necessitates a single profitable trade, but the 2-step challenge offers a flexible timetable and upholds a reasonable maximum loss restriction of 8%.
Firstly, there is the one-step funding challenge, and secondly, there is the more usual two-step funding challenge.
1-step Funding
| $5K | $10K | $25K | $50K | $100K | $200K | |
| Profit Target | 10% | 10% | 10% | 10% | 10% | 10% |
| Minimum Trading Days | 1-day | 1-day | 1-day | 1-day | 1-day | 1-day |
| Trading Period | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
| Max Daily Loss | 4% | 4% | 4% | 4% | 4% | 4% |
| Max Trailing Loss | 6% | 6% | 6% | 6% | 6% | 6% |
| Available Leverage | 100:1 | 100:1 | 100:1 | 100:1 | 100:1 | 100:1 |
| RefundableRegistration Fees | $50 | $100 | $200 | $300 | $500 | %950 |
2-step Funding
| $5K | $10K | $25K | $50K | $100K | $200K | |
| Profit Target | 8% | 8% | 8% | 8% | 8% | 8% |
| Minimum Trading Days | 1-day | 1-day | 1-day | 1-day | 1-day | 1-day |
| Trading Period | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
| Max Daily Loss | 5% | 5% | 5% | 5% | 5% | 5% |
| Max Initial Account Balance Loss | 8% | 8% | 8% | 8% | 8% | 8% |
The MyFundedFx Scaling Plan:
My Funded Fx offers a notable capital scaling plan as one of its noteworthy features. Traders can boost their trading capital by 25% per quarter if they earn a profit of 12% or higher during that period. Traders can achieve consistent and lasting growth with this gradual method.
My Funded FX Broker: Do They Use a Reliable Platform?
My Funded Fx has partnered with Eightcap, a well-known forex broker that has worked with top forex prop firms globally. This cooperation demonstrates My Funded Fx’s trustworthiness and commitment to offering traders strong liquidity and outstanding trading platforms.
Through this agreement, traders can now utilize two of the most popular retail trading platforms in the industry: MetaTrader 4 and MetaTrader 5. Traders personally downloaded MT4 and used it for my prop firm challenge account, finding it to be a reliable and user-friendly software.
Having ambitious scaling plans and sophisticated features is crucial, but if the challenges are insurmountable, then they become unimportant.
Fortunately, My Funded Fx offers money that is both achievable and practical.
My Funded Fx provides a single-step challenge that may be passed with just one profitable trade, a process that numerous traders have completed. The minimum trade length is one day.
Furthermore, there is no set maximum time limit for the challenges. Traders can advance at their speed and consistently strive towards their profit goal. Unlike certain proprietary trading business challenges that impose rigid 20-day constraints, this opportunity offers more flexibility.
My Funded Fx establishes the maximum total loss at 8% in the two-step challenge. Many companies have reduced their maximum loss criteria to approximately 4%, showing that My Funded Fx provides traders with greater flexibility and opportunity for maneuver.
My Funded FX Fees: How Much Do They Charge?
My Funded Fx simplifies the funding process with two unique models:
1-Step Funding:
- Target a 10% profit while maintaining a drawdown limit of 6% and a maximum daily loss of 4%.
- Secure funding in one trading day with a single successful trade.
- A refundable charge is required when receiving the prop firm trading account.
2-step funding:
- Conduct two periods, each with identical trading criteria.
- Phase 1: Attain an 8% profit on your trading account while following drawdown rules.
- Phase 2: Repeat the procedure aiming for a 5% profit target.
- These challenges are not bound by time limits, providing flexibility.
- Accounts have a 1:100 leverage and require a refundable challenge fee upon successful completion.
My Funded FX Proof of Payment:
My Funded Fx provides a wide range of payout and withdrawal choices, offering users flexibility and convenience. For instance, if anyone chooses Deel from the available possibilities.
They made an initial withdrawal of a small sum to test the platform’s reliability and confirm that the payment was processed promptly. They plan to revise this review with more proof of payout as they continue trading and perhaps withdraw an amount above $272, depending on my trading success.
My Funded FX Customer Support:
My Funded FX LLC, based in Texas, displays its firm data in the footer of its website. Nevertheless, it does not present contact data in a prominent area of the website.
Contact Information
- 2112 Boll Street, Apartment 233, Dallas, Texas, 75204-2848
- Authorized to Conduct Business: Texas
- Registered Agent: United States Corporation Agents, Inc.
- Office Address: 9900 Spectrum Dr, Austin, TX 78717
What Makes My Funded FX Unique?
My Funded Fx has introduced an innovative 1-step funding approach that is changing the trading business by allowing traders to potentially obtain funding with just one trade, a unique feature that distinguishes it from competitors.
My Funded Fx, built on Eightcap’s framework, stands out by offering the chance to trade cryptocurrencies on weekends. My Funded Fx’s distinctive product appeals to both new cryptocurrency fans and experienced forex traders, demonstrating the company’s dedication to adaptability and creativity.
My Funded FX Reviews: What Do Their Customers Say?
On Trustpilot, My Funded Fx has 4.6 stars out of 5 stars, and a total of 1,325 customers reviewed them there. They are a verified company on Trustpilot. The company is in an excellent state on this platform.
#1. Anthony Success believes that myfundedfx is the top proprietary firm, despite negative reviews mostly stemming from daily losses. He suggests that the firm should focus on strategizing and risk-based setups rather than expressing frustration. Success has colleagues who trade with myfundedfx without issue and plans to open an account with them. He encourages myfundedfx to maintain their good work.
#2. According to Abu Dooji, My funded fx is a reliable company. He received information from mentors & colleagues involved in proprietary trading. After reviewing their website himself, he is eager to begin trading with them.
What impressed me is their transparent policies and the realization that their customer service is excellent. If he has the opportunity to trade with them and has firsthand knowledge, he will return to provide a 5-star review.
#3. Russell Savage noted that the Prop business shows promise, but he believes they are experiencing a real-life nightmare by hosting these free monthly competitions.
Their new broker, 8Cap, experienced a downtime of 1 hour and 50 minutes earlier today.
The moderator on their Discord requested clarification from me, and I responded with a thorough screenshot. The screenshot, which included the moderator’s request to me, has since been deleted.
He recommends waiting for MFFX to improve before purchasing a Challenge from them.
#4. Christophe asserts that the product is excellent, but they are facing numerous technological challenges. Many traders are expressing dissatisfaction on their discord channel.
He refrained from purchasing because the company does not collaborate with individuals who report their income under the company’s name.
They only accept individuals, specifically amateur traders. It is unfortunate that despite their seeming potential, they will be blocked if they achieve success and start trading with a large amount of wealth. Unsound business model.
#5. Javokhir Ganiev stated that the company automatically closes orders. When the daily loss did not occur. The user’s orders were at 1600 negative. The firm automatically canceled the user’s orders, after which the price started to rise. If the company had not closed the user’s orders, they would have made a profit of 3000.
Conclusion
My Funded Fx claims quick funding and access to substantial trading cash, which is attractive. Nevertheless, it has certain drawbacks, including restricted educational resources, the absence of a free trial, and doubts about its long-term dependability. Hence, it might not be the optimal choice for all individuals.
On the other hand, certain well-established companies not only give a strong base for traders to succeed but also offer increased transparency, extensive educational assistance, and a demonstrated history of success. If traders value security and aim to align with the trading objectives, considering these options may be advantageous.
