PROS
- Account sizes range from $2,000 to $50,000 with direct funding.
- Earn a 12% account fee refund on the initial payout.
- Enjoy 2% and 4% phase bonuses during the evaluation stages.
- Benefit from low commission costs and fees.
- Leverage options range from 1:50 to 1:500.
- Unlimited trading period during the Evaluation Program.
- Choose from three distinct account types.
- Profit share potential of up to 90%.
CONS
- Delayed live chat support due to a queue.
- Challenges with slippage.
What are My Forex Funds?
My Forex Funds, founded in July 2020 by CEO Murtuza Kazmi, functions as a proprietary trading organization based in Canada’s Great Lakes region. The organization has a brick-and-mortar location in Toronto and provides ambitious traders with the chance to work with significant amounts of capital, up to $2,020,000.
The trading firm offers three separate account options for traders with limited funds to secure funding. Traders can utilize these accounts to have access to substantial cash resources and enjoy profit shares of up to 90%.
My Forex Funds employs its exclusive broker, Traders Global Group, which operates servers located in Frankfurt, Germany, to streamline its trading operations.
My Forex Funds prioritizes success in traders’ careers, emphasizing attributes such as discipline, prudent risk management, and a focus on consistent long-term performance. By following these guidelines, traders can potentially generate significant gains while managing capital amounts of up to $2,020,000.
Trading prospects encompass a wide range of financial assets, such as FX pairings, commodities, indices, and cryptocurrencies.
Murtuza Kazmi CEO (Chief Executive Officer) at My Forex Funds
Murtuza Kazmi, aged 37, is the CEO of My Forex Funds and lives in Toronto, Canada. His primary emphasis is on dedicating valuable time to his wife and children, and he enjoys engaging in pastimes such as watching Netflix, specifically “The Office,” and participating in sports such as American football, badminton, and cricket.
Murtuza Kazmi assumed the positions of Chairman and CEO at My Forex Funds after becoming a member six months before its official launch in July 2020. By working together with other experienced executives, he plays a crucial role in guiding the financed trader projects towards success.
Murtuza derives satisfaction from his employment at My Forex Funds, valuing the heterogeneous membership of individuals from numerous nations and cultures across the globe. His participation in worldwide activities enables him to consistently acquire knowledge and expand his viewpoints.
The organization prioritizes inclusive employment methods in various regions, aiming to align with the diverse backgrounds of its traders. The organization recruits employees from many locations worldwide, including traders, to ensure efficient communication in their native languages and a deep grasp of their cultures.
My Forex Funds Funding Programs and Challenges: Rules and Requirements
My Forex Funds provides its traders with a selection of three distinct programs to select from:
- Rapid program accounts
- Evaluation program accounts
- Accelerated program accounts
Rapid program accounts
| $10,000 | $20,000 | $50,000 | #100,000 | |
| Target | No Target: | individual get | paid 12% of the | profit |
| Minimum Target Days | 3 times per week | |||
| Daily Starting Drawdown | $5,00 | $1,000 | $2,500 | $5,000 |
| Overall Drawdown | $1,200 | $2,400 | $6,000 | $12,000 |
| Available Leverage | 1:500 | 1:500 | 1:500 | 1:500 |
| Refundable Registration Fees | $99 | $189 | $399 | $749 |
| Monthly Fees | No | No | No | No |
The My Forex Funds fast program account is specifically created to evaluate a trader’s skills over a three-month duration by allowing them permission to trade with real funds. An outstanding benefit of the fast program account is the 12% bonus profit distributions, which are applicable even when trading in a demo environment.
Rapid program accounts differ from other accounts in that they do not have preset profit targets. Traders are granted a 12% dividend from the earnings generated in their accounts when they employ a leverage ratio of 1:500.
It is of utmost importance to emphasize adherence to the guidelines of a maximum daily loss of 5% and a maximum loss of 12%. Moreover, participants in the program must actively participate in at least three trading days every week to be eligible.
Rapid program accounts have the option to select between consistency enabled or no consistency accounts.
Consistency accounts just have to adhere to the basic regulations regarding the minimum number of trading days, the maximum daily limit, and the maximum allowable loss.
In addition to the regulations prohibiting inconsistent accounts, accounts that allow for consistency must also take into account the average daily number of trades and the average lot sizes utilized. An illustrative example is provided in the table presented below:
| Day | Trades | Daily Trades (#) |
| 1 | 4 | 9 |
| 2 | 5 | 12 |
| 3 | 3 | 9 |
| 4 | 2 | 3 |
| Average | 3.5 | 8.25 |
| Max (Avg*2) | 7 | 16.5 |
| Min (Avg/2) | 1.75 | 4.125 |
Trader accounts will only be suspended if they consistently deviate from their established trading patterns. For a singular violation, non-payment will apply only for that specific payment period. Once they have completed the three-month demo period and secured a funded account, they will commence with a profit split of 50% in the initial month.
This split will increase to 65% in the second month and reach 80% from the third month onward. Additionally, with the first withdrawal from the funded account, they will receive a 100% refund of their initial paid fee.
It is important to note that rapid program accounts do not have a scaling plan available.
Trading instruments for rapid program accounts include forex pairs, commodities, indices, and cryptocurrencies.
Rapid account program rules
- Maximum Daily Loss refers to the highest amount of money that a trader can lose in a single day before their account is at risk of violating trading rules. Relevant for accounts of any size. Maximum: 5%.
- Maximum Loss refers to the highest total loss that a trader can incur before their account is deemed to have breached the set conditions. Relevant for accounts of any size. Maximum threshold: 12%.
- Minimum Trading Days: The minimum duration during which a trader must actively participate in trading before concluding an evaluation period or making a withdrawal request. A minimum frequency of three days each week.
- Maximum Trading Days refers to the maximum period allotted for a trader to reach a particular profit or withdrawal goal. Duration: 90 days.
- The Consistency Rule requires traders to maintain uniformity in position sizes, risk management, losses, gains, and other related factors. Requirement: The account results should have consistent features without significant fluctuations. Traders have the option to choose between consistency or non-consistency rule accounts, depending on their taste.
Evaluation program accounts
| $5000 | $10,000 | $20,000 | $50,000 | $100,000 | $200,000 | $300,000 | |
| Target | PhasePhase | I:II: | Evaluation Establishment | PhasePhase | == | 8%5% | |
| Minimum Trading Days | 5 Days | ||||||
| Maximum Trading Days | Unlimited | ||||||
| Daily Starting Drawdown | $250 | $500 | $1,000 | $2,500 | $5,000 | $10,000 | $12,000 |
| Overall Drawdown | $600 | $1,200 | $2,400 | $6,000 | $12,000 | $24,000 | $36,000 |
| Available Leverage | 1:100 | 1:100 | 1:100 | 1:100 | 1:100 | 1:100 | 1:100 |
| Refundable Registration Fees | $49 | $84 | $139 | $299 | $499 | $979 | $1,389 |
| Monthly Fees | No | No | No | No | No | No |
The My Forex Funds evaluation program identifies skilled and committed traders through a two-phase assessment, rewarding consistency. Traders can use 1:100 leverage during the evaluation program.
Evaluation Phase One:
- Goal for profit: 8%
- Limits: Anyone can lose up to 5% daily or 12%.
- Time Limitations: There are no limits on the number of trade days.
- Minimum Trading Days: At least five trading days must pass before moving on to step two.
Evaluation Phase Two:
- Profit Target: 5%
- Limits: 5% maximum daily loss, 12% maximum loss.
- Time Limitations: No maximum trading day requirements.
- Minimum Trading Days: 5 days to proceed to a funded account.
- Bonus: 2% of the profit from phase one evaluation.
Funded Account:
- Minimum Withdrawal Policy: Adhere to 5% maximum daily loss and 12% maximum loss rules.
- First Payout: After 30 calendar days from the first position in the funded account.
- Minimum Trading Days: 10 calendar days for the first payout.
- Components: 75% of the funded account profit, 4% profit from phase two, and a 112% refund of the initial fee.
- Subsequent Payouts: Bi-weekly.
- Profit Split: Increased to 80% in month two and 85% from month three onward.
Minimum withdrawal policy of Evaluation program accounts:
The profit necessary for account sizes of $5k, $10k, and $20k is $50.
The needed profit for account sizes of $50k and $1000k is $100.
The profit necessary for account sizes of $200k and $300k is $150.
VIP Reward program
The VIP Reward program is an innovative addition that will recognize dedicated traders who put in the effort to achieve success. To be eligible, a trader must complete particular standards.
VIP Reward program requirements:
Qualification Criteria:
- Receive a minimum of 5 payouts.
- Engage in trading for a minimum of 3 months.
- Maintain a consistent trading style throughout the 3 months.
- Employing an all-in or high-risk trading style does not qualify.
- Avoid account violations during the entire 3-month period.
VIP Reward program benefits:
- Profit Split:
- Receive a generous 90% profit split.
- Withdrawal Flexibility:
- Ability to withdraw at any time without restrictions.
- The payout request button remains active as long as the individual is in profit.
- Efficient Payout Process:
- Experience semi-automated payout confirmation.
- Funds in Deel account within 10 hours.
- Additional Perks:
- Enjoy other occasional benefits delivered to the mailbox.
Evaluation program account scaling plan
- Evaluation Program Scaling:
- Requirement: Achieve a 10% or higher profit within four months, with at least two profitable months.
- Reward: Receive a 30% increase in the original account balance.
Example:
- Starting with a $200,000 account:
- After 4 months: The balance increases to $260,000.
- After the next 4 months: $260,000 increases to $320,000.
- After the next 4 months: $320,000 increases to $380,000.
- And so on…
- Trading Instruments:
- Forex pairs, commodities, indices, and cryptocurrencies are available for evaluation program accounts.
Accelerated program accounts
My Forex Funds is currently providing an Accelerated account program, which presents two distinct possibilities for selection:
- Conventional
- Emphatic
Accelerated program accounts do not have a maximum daily loss limit, but they do have a maximum loss rule. Furthermore, there are no temporal constraints, limitations on the size of the lot, or requirements for adherence to consistency standards. Accelerated account programs have the advantage of not requiring profit targets to qualify for weekly rewards.
Conventional accelerated program accounts
| $2,000 | $5,000 | $10,000 | #20,000 | $50,000 | |
| Target | 10% to get | to next | milestone | ||
| Daily Starting Drawdown | 3 times | per week | |||
| Overall Drawdown | 5% of staring | account | balance | ||
| Assured Funding | $324,000 | $405,000 | $540,000 | $1,080,000 | $1,350,000 |
| Available Leverage | 1:50 | 1:50 | 1:50 | 1:50 | 1:50 |
| One Time Registration Fees | $99 | $245 | $485 | $970 | $2,450 |
Scaling plan for the conventional model below:
The conventional accelerated program account enables the individual to bypass the evaluation time and immediately start trading a funded account, so earning profit splits. They will receive a 50% share of the profits generated from trading with a leverage ratio of 1:50.
The worksheet shown above displays the scaling plan for conventional accelerated program accounts. To qualify for account scaling, achieve a profit target of 10%.
The traders have the opportunity to upgrade their accounts once every pay cycle. Another advantageous aspect to consider is that their withdrawals will not impede the expansion of the account. The account will qualify for scaling whenever its cumulative profits hit the 10% profit threshold.
For instance:
The designated objective for profit in this particular account category is 10%.
During the first week, they experienced a 4% increase in their profits and subsequently withdrew 50% of those profits.
During the second week, the profits increased by 7% and they withdrew 50% of the total amount earned.
Their current profit margin has hit 11%, surpassing the required 10% threshold, making them eligible for a scale-up.
Emphatic accelerated program accounts
| $2,000 | $5,000 | $10,000 | #20,000 | $50,000 | |
| Target | 20% to get | to next | milestone | ||
| Daily Starting Drawdown | No daily | drawdown | limits | ||
| Overall Drawdown | 10% of staring | account | balance | ||
| Assured Funding | $486,000 | $810,000 | $810,000 | $1,600,000 | $2,020,000 |
| Available Leverage | 1:100 | 1:100 | 1:100 | 1:100 | 1:100 |
| One Time Registration Fees | $198 | $490 | $970 | $1,940 | $9,400 |
Accelerated program account rules
The term “Maximum Loss” denotes the utmost extent of financial loss that a trader can incur before their account is compromised. The maximum permissible loss is limited to 5% for all account sizes.
The prohibition on the use of EAs (Expert Advisors) means that traders are not allowed to utilize any type of EA services, except those expert advisors specifically intended for replicating trades.
Furthermore, the rule of “No Weekend Holding” stipulates that traders are prohibited from keeping open positions during weekends. This rule emphasizes the significance of liquidating positions before the weekend break.
My Forex Funds Broker: Do They Use a Reliable Platform?
When looking for a prop firm to support the forex trading style, it’s important to consider their trading requirements. A high percentage profit split on a generously funded account may seem attractive, but it’s unlikely to lead to success if the firm demands high monthly percentage gains with minimal maximum drawdowns.
My Forex Funds is a practical choice for funding, as it offers three distinct programs with realistic trading objectives. The Rapid program allows you to earn a 12% profit split in a three-month demo environment, without any profit targets and with relaxed trading rules.
The Evaluation program features relatively low-profit targets (8% in phase one and 5% in phase two) and higher maximum loss rules (5% maximum daily and 12% maximum loss), offering a realistic path to receiving capital. The Accelerated programs allow them to receive direct funding with no profit targets and weekly withdrawal options, presenting a feasible avenue for capital acquisition.
Overall, My Forex Funds provides diverse funding options with achievable trading conditions for successful payouts.
My Forex Funds Fees: How Much Do They Charge?
Trading commission:
| Assets | Fee Terms |
| FOREX | 3 USD / LOT |
| COMMODITIES | 3 USD / LOT |
| INDICES | 0 USD / LOT |
| CRYPTO | 0 USD / LOT |
Education & Support for Traders
My Forex Funds does not offer educational material. Their site contains informative entries covering fundamental topics that users may find beneficial to peruse. My Forex Funds offers traders a sophisticated dashboard that enables them to monitor their progress and analyze their previous trades. By adopting this approach, they may effectively handle risk while also accessing real-time statistics about their key trading goals around the clock.
My Forex Funds Proof of Payment:
Established in July 2020 by Anurag Jaiswal, My Forex Funds is a proprietary trading company that offers bi-weekly or monthly rewards, based on the selected program account. The evidence of payment is easily accessible on their Discord channel.
Additionally, there are two illustrations provided below for reference:
Which broker does My Forex Funds use?
The trading server for My Forex Funds is provided by Traders Global Group, who act as their brokers. The liquidity is provided by an institutional fintech company. Regulation is not necessary for them as they operate as a proprietary trading firm, utilizing their capital to finance the live accounts of their traders.
Regarding trading platforms, they provide the capability to engage in trading activities across the following:
- MetaTrader4
- MetaTrader5
My Forex Funds Customer Support:
Anyone may also locate My Forex Funds on other social media platforms.
Facebook:
The My Forex Funds community has established a lively presence on Facebook, where the firm’s page has garnered 55,000 followers. This platform serves as an engaging hub for discussions, the exchange of experiences, and seeking guidance a clear indication of My Forex Funds’ dedication to cultivating a supportive trading environment.
Twitter:
My Forex Funds has cultivated a Twitter community of 1,894 followers, establishing a dynamic space for real-time updates, news, and interactions within the trading community.
Instagram:
My Forex Funds enjoys a flourishing presence on Instagram, boasting 169,000 followers. This platform provides a visual exploration of the trading world, offering a unique perspective on the firm’s activities and achievements. It serves as a source of inspiration for traders and a channel for maintaining connections within the community.
What Makes My Forex Funds Unique?
My Forex Funds distinguishes itself from other prop trading firms by offering three funding programs: Rapid, Evaluation, and Accelerated. The firm imposes minimal constraints on traders, allowing them to trade during news events, hold overnight positions, and engage in weekend trading (except for Accelerated programs). The Rapid program is a unique three-month initiative where traders operate in a demo environment but receive a 12% profit split.
The program has a leverage of 1:500 and requires a minimum of three trading days per week, a maximum daily loss of 5%, and a maximum loss of 12%. Participants in the Rapid program can choose consistency-enabled or non-consistency accounts.
However, this program does not include a scaling plan. The Evaluation program has a two-phase structure, requiring traders to navigate both phases successfully to qualify for payouts. The first phase has an 8% profit target, followed by a 5% target in the second phase. Traders must engage in a minimum of 5 days of trading in each phase before becoming eligible for funding.
The Evaluation program includes a scaling plan and has relatively lower profit targets and minimum trading day requirements compared to other leading prop trading firms. It’s important to note that the Rapid and Evaluation programs differ significantly in their structure and requirements.
Additionally, traders in the Rapid program cannot engage in weekend trading, unlike the Evaluation program.
For example- A comparison between My Forex Funds and FTMO:
| Trading Objectives | My Forex Funds | FTMO |
| Phase 1 Profit Target | 8% | 10% |
| Phase 2 Profit Target | 5% | 5% |
| Maximum Daily Loss | 5% | 5% |
| Maximum Loss | 12% | 10% |
| Minimum Trading Days | 5 Calendar Days | 4 Calendar Days |
| Maximum Trading Period | Phase 1: UnlimitedPhase 2: Unlimited | Phase 1: UnlimitedPhase 2: Unlimited |
| Profit Split | 75% up to 90% | 80% up to 90% |
Registration process
1. Trading platform selection
2. Sign-up for My Forex Funds
3. Receive the order confirmation
My Forex Funds Reviews: What Do Their Customers Say?
Trustpilot-
My Forex Funds is currently undergoing a regulatory investigation, leading to a temporary suspension of their business operations and the deactivation of their website. This has also prompted the freezing of their Trustpilot page, rendering it inactive and preventing the posting of reviews about the company.
Until the regulatory charges are addressed, further information about the future of My Forex Funds remains pending, and we must await the resolution of these regulatory issues for more insights into the company’s status.
#1. As per Aamir M Mansuri, my Forex fund is the leading proprietary firm globally. It is recommended that My Forex Fund Corporation implement mandatory KYC (Know Your Customer) procedures on its website. If they succeed in this legal matter, no other company will surpass them in the globe for the next decade.
He wishes to address a message to the adversaries of my forex investment firm.
The firm has the authority to slander him, as they cannot rival us.
He stated that: You have the right to defame because you do have not the ability to compete on an equal level.
#2. Ikrom Khaydarov expressed his gratitude to the MFF crew. Throughout my tenure as a customer of this organization, the support team provided assistance on numerous occasions, addressing a wide range of concerns.
He appreciated the very prompt reactions and effective problem-solving abilities of the support team, as they demonstrate high efficiency and deliver service of exceptional quality.
He specifically desired to acknowledge Valentina Campos, Qatada Riaz, and Sulaiman Ehtesham. We extend our gratitude to these individuals for their invaluable assistance.
#3. Leon Gellineau revealed that he had the privilege of collaborating with Orlie from the FX fund team, and he is delighted to convey his deep appreciation for their outstanding service. Their benevolence and affability rendered each interaction a pleasurable one.
They not only answered all of my questions calmly, but they also demonstrated their competence by efficiently guiding me. Encountering an individual who is truly kind-hearted in the realm of customer service is a rarity.
Thanks to Orlie, he feels like an esteemed and nurtured customer. They deserve praise for establishing such an exemplary level of service!
#4. Edwards expressed admiration for the remarkable quality of their challenging accounts. The daily drawdown is 50,000 and the overall drawdown is 6,000. Due to their competitive pricing, they consistently conduct evaluation accounts. Currently residing on a monthly income of 20,000 GBP and purchased for a little 100 GBP.
The value has increased to 1800. Only 10 days remain till the first withdrawal. Do not allow the decline in equity and balance to discourage you. Simply utilize the maximum watermark. There is no distinction between this particular prop firm’s due diligence and that of other firms, as they both rely on the start of day balance.
What sets MFF apart is the substantial ODD (Overall Data Distribution) of its accounts, making them highly desirable. Additionally, the affordability of the 50k and 100k options further enhances its appeal. Excellent job
Conclusion
My Forex Funds is a well-respected proprietary trading firm that offers traders a choice of three distinctive funding programs: Rapid, Evaluation, and Accelerated. Rapid programs provide a three-month knowledge assessment period that operates in a demo environment.
Despite this, it offers a unique 12% bonus profit payout. Traders can earn up to 80% profit splits. Evaluation programs involve a two-phase challenge that requires traders to reach profit targets of 8% in phase one and 5% in phase two. These programs offer realistic trading objectives, including 5% maximum daily and 12% maximum loss rules.
Traders have the potential to earn up to 90% profit splits and scale accounts. Accelerated programs are direct funding initiatives that enable traders to skip evaluations and earn weekly profit splits without any time restrictions or consistency rules. Traders can earn 50% profit splits, providing scalability.
My Forex Funds accommodates traders of all levels of experience, from beginners to seasoned traders. Beginners can start with rapid programs, while seasoned traders can opt for evaluation programs or accelerated programs for weekly earnings. With its wide range of offerings, My Forex Funds stands out as an industry-leading prop firm.
