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My Funded FX Review: Solid Trading Options and a 1 Million Milestone

My Funded FX Review

What is there to reveal in this My Funded FX review? We will talk about this US-registered prop trading firm that’s generating buzz in the trading world. 

In this article, we’ll take a deep dive into the specifics of this company, including assets, account sizes, payment methods, and more. Whether you’re an experienced trader or not, know that My Funded FX company has something good to offer. Let’s explore what sets this firm apart.

General information
Name: MyFundedFX, MyFundedFX LLC
Regulation status: Regulation not required – Forex Prop Firm
Warnings from Financial Regulators: No official warnings
Website link: myfundedfx.com
Active since 2023
Registered in Dallas, Texas, US
Contact info: [email protected]
Trading platforms: MT4/MT5
The majority of clients  India 

United Kingdom 

United States

Nigeria

South Africa

Customer support: phone, email, help center, and live chat
Compensation fund: No

My Funded FX: Company Overview

First things first, My Funded FX is not the same as My Forex Funds, as some may confuse them! So, Is My Funded FX legit? Yes, we can say it is! 

My Funded Fx is a prop firm that has recently hit an impressive milestone, reaching a total payout of $1 million to its funded traders. What really makes them stand out is their dedication to innovation in the world of proprietary trading.

Also, what sets them apart from the rest is a game-changing feature that no other prop firm has offered before. It’s an evaluation process with no time limits and a fixed maximum drawdown.

There Is More to This 

In the past, prop firms with no time limits used trailing relative drawdown. This really meant traders could risk losing their accounts if they withdrew all their profits. But My Funded Fx has turned the tables with its unique 2-step evaluation approach. 

This means traders can operate without the pressure of strict timeframes and have confidence in a set maximum drawdown.

Interesting: My Forex Funds, their main competitor, is currently in the middle of a legal battle. The Commodity Futures Trading Commission (CFTC) has accused them of fraudulently taking more than $300 million from people. 

Trading Instruments at My Funded FX

My Funded FX prop firm has support for various markets, precisely 175+ instruments. That includes crypto, Forex, indices, and commodities. Here’s an overview of the trading instruments they offer:

  • Forex: Major and minor currency pairs – AUD/CAD, GBP/AUD, etc.
  • Indices: GER30, JPN225, NTH25, etc.
  • Commodities: Crude oil, Platinum, Silver, Zinc, etc. 
  • Crypto: BTC, XLM, BNB, ETH, LTC, etc. 

To access your account, you can log in on their website via the My Funded FX login page.

Trading Platforms: MT4 and MT5

My Funded FX prop firm provides traders with a solid selection of trading platforms. Namely, they included the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5). 

We all know these platforms are favored by roughly 80% of retail traders due to their support for various smart strategies, amazing interfaces, advanced charting tools, and a rich choice of indicators. Both platforms are widely recognized as industry leaders.

MyFundedFx.com’s Simple Yet Rewarding Competition

MyFundedFx.com hosts a monthly trading competition that’s open to everyone for free. The top 30 traders win prizes, with the grand prize currently being a $200,000 trading account and $500 in cash. Here’s how it works:

  • You trade for 30 days following some specific rules.
  • The traders making the most profit win.

The rules are as follows:

  • Keep your daily losses below 5% of your account value.
  • Don’t let your total losses exceed 8% of your initial balance.
  • You can have a maximum of 5 open trades at once.
  • You’re allowed to trade on news, hold trades overnight, and do swing trading.
  • No external trading tools are allowed.

This competition was one of the first of its kind, and they plan to continue it. Keep this in mind! 

Challenges/Funding Options at MyFundedFX.com

MyFundedFX offers 2 specific trading programs:

1-Step Challenge Account

  • Available in two variants: Standard and Swap-Free.
  • Prices for the 1-Step STANDARD account:
    • $5,000 for $50
    • $10,000 for $100
    • $25,000 for $200
    • $50,000 for $300
    • $100,000 for $500
    • $200,000 for $950
    • $300,000 for $1,399
  • Prices for the 1-Step SWAP-FREE account:
    • $5,000 for $60
    • $10,000 for $120
    • $25,000 for $240
    • $50,000 for $360
    • $100,000 for $600
    • $200,000 for $1,140

1-Step Challenge Account Rules:

  • The profit target is 10% for the evaluation phase.
  • Maximum daily loss is 4% (up to 6% with VIP status).
  • Maximum overall loss is 6% (up to 12% with VIP status).
  • Minimum trading days for evaluation: 1 day.
  • No time limit to meet trading targets.
  • Lot size limits apply.
  • Copy trading is allowed under specific conditions.
  • Usage of certain types of EAs is prohibited.

2-Step Challenge Account

  • Also available in two variants: Standard and Swap-Free.
  • Prices for the 2-Step STANDARD account:
    • $5,000 for $50
    • $10,000 for $100
    • $25,000 for $200
    • $50,000 for $300
    • $100,000 for $500
    • $200,000 for $950
    • $300,000 for $1,399
  • Prices for the 2-Step SWAP-FREE account:
    • $5,000 for $60
    • $10,000 for $120
    • $25,000 for $240
    • $50,000 for $360
    • $100,000 for $600
    • $200,000 for $1,140
    • $300,000 for $1,680

2-Step Challenge Account Rules:

  • Two phases: Phase 1 profit target is 8%, and Phase 2 profit target is 5%.
  • Maximum daily loss is 5% (up to 8% with VIP status).
  • The maximum overall loss is 8% (up to 14% with VIP status).
  • Minimum trading days for evaluation: 1 day.
  • No time limit to meet trading targets.

These options provide flexibility for you to choose the program that best suits your needs at MyFundedFX.com.

Payment Options at My Funded FX

My Funded FX has flexible withdrawal options. Namely, traders can receive funds in crypto directly to their wallets or through Deel. 

Deel offers various payment methods, including bank transfers, PayPal, Wise, Coinbase, Revolut, Payineer, etc. Funding your My Funded FX account is relatively straightforward.

Tip: AUXCapital is another fake broker to avoid. All they want is to steal from you. 

Trader Reviews on Trustpilot

Trustpilot reviews reveal My Funded FX as an impressive choice. This firm has a remarkable rating of 4.7 stars, based on over 1,000 user reviews. 

The majority of people praised their support team and fast withdrawals. What’s more, we must say this can truly provide a dose of security. 

Note: It’s essential to consider regulated and highly rated brokers when tackling trading. Avoid suspicious ones like OrbitGTM

Can I Make Money From Online Trading?

Online trading can undoubtedly be profitable, but it insists on knowledge and the right tools. So, we decided to offer free consultations to assist you in making educated decisions. We’ve invented an AI Analysis Bot designed to simplify research and provide trading advice based on progressive predictions. By reserving your spot for our upcoming launch, you can enjoy a 20-day free trial, which includes access to FX and stock analysis reports, for your trading strategy.

All in all, My Funded FX offers comprehensive platforms and almost has no weak points. Whether you’re exploring funded trading opportunities or aiming to improve your trading skills, My Funded FX is a solid firm. Remember, success in trading hinges on dedication, knowledge, and having the right tools, and we’re here to support your journey.

FAQs

Is MyFundedFX safe?

MyFundedFX is a registered firm in Texas, USA, and is law-abiding.

Is there a time limit on MyFundedFX?

The Myfundedfx Trading Challenge lasts for 30 days.

How long does a MyFundedFX withdrawal take?

Withdrawals from MyFundedFX may take up to 24 hours to process.

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