My Forex Funds is interested in assisting and helping traders grow, so the firm grows together with them. They strive to provide programs, services, and information to assist their traders on their journey.
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Traders at My Forex Funds are encouraged to be successful in their careers. The main priority that they expect from their clients is that they are disciplined individuals who properly manage risk and focus on long-term consistency. They allow them to earn high profits by managing up to $2,020,000 capital while taking home profit splits up to 90%. They can achieve this by trading forex pairs, commodities, indices, and cryptocurrencies.
Who are My Forex Funds?
My Forex Funds is a proprietary trading firm founded in July 2020 whose CEO is Murtuza Kazmi. They have its offices located in Toronto, Canada. They offer undercapitalized traders three different account types to get funded with and a chance to work with up to $2,020,000 capital while earning up to 90% profit splits. They provide themselves with their own broker named Traders Global Group, whose servers are located in Frankfurt, Germany.
Their headquarters are located in a region of Canada called Great Lakes.
Who is the CEO of My Forex Funds?
Murtuza Kazmi is the CEO of My Forex Funds who is 37 years old and who lives in Toronto, Canada. His priorities are mostly spending time with his wife and kids while he also enjoys hobbies like watching Netflix (The Office) and playing sports (American football, Badminton, and Cricket).
He started working at My Forex Funds six months before they officially went live to the public in July of 2020. His position as previously mentioned is the Chairman and CEO who works with other great leaders to steer their funded trader programs to success.
Murtuza Kazmi enjoys working at My Forex Funds since they have so many members from different countries and cultures worldwide allowing him to learn new things on a daily basis. They prioritize hiring across all geographies to ensure that their image fits the image of their traders. They have many traders from all across the world which means they also hire staff from those countries so they have them covered in their own language and culture.
Video review
Funding program options
My Forex Funds offers its traders three different programs to choose from:
- Rapid program accounts
- Evaluation program accounts
- Accelerated program accounts
Rapid program accounts
My Forex Funds rapid program account aims to acquire knowledge about a trader’s capabilities in the three-month period before giving them access to trade with their live funds. A significant advantage of the rapid program account is the 12% bonus profit payouts you receive despite trading in a demo environment.
Rapid program accounts have no profit targets. You get paid 12% of the profits that you earn in your account while trading with 1:500 leverage. Your main focus should be following the 5% maximum daily loss and 12% maximum loss rules. Despite that, the only other requirement you must follow is the three minimum trading days per week.
Rapid program accounts can choose from consistency enabled or no consistency accounts.
No consistency accounts only have to follow the general rules of minimum trading days, maximum daily, and maximum loss.
Despite the rules mentioned for no consistency accounts, consistency enabled accounts must also consider the average number of trades taken per day and average lot sizes used. You can see an example in the table below:
Your account will only get suspended if a trader consistently falls outside his trading pattern. A one-time violation will only result in not getting paid for the singular payment period.
Upon being successful in your three-month demo period and receiving a funded account, you will start receiving a profit split of 50% in the first month. The profit split increases to 65% for the second month, while in months three and onward the profit split becomes 80%. In addition, you also receive a 100% refund of your initial paid fee with your first withdrawal from the funded account.
Rapid program accounts have no available scaling plan.
Trading instruments for the rapid program accounts are forex pairs, commodities, indices, and cryptocurrencies.
Rapid account program rules
- Maximum daily loss is the maximum loss a trader can reach on a daily basis before the account is violated. All account sizes have a maximum daily loss of 5%.
- Maximum loss is the maximum loss a trader can reach overall before the account is violated. All account sizes have a maximum daily loss of 12%.
- Minimum trading days is the minimum period which you are required to trade for before you can complete an evaluation phase, or request a withdrawal. Minimum trading days requirements are a minimum of 3 days per week.
- Maximum trading days are the maximum period in which you are required to hit a specific profit target or withdrawal target. Maximum trading days is a period of 90 days.
- The consistency rule is a rule that requires traders to have consistent position sizes, risk management, losses, gains, etc… Meaning that the characteristics of the account results should not differentiate drastically. However, you can choose if you want to go for consistency or non-consistency rule account.
Evaluation program accounts
My Forex Funds evaluation program account aims to identify serious, and talented traders, who are rewarded for their consistency in the two-phase evaluation period. The evaluation program account allows you to trade with 1:100 leverage.
Evaluation phase one requires a trader to reach a profit target of 8% while not surpassing their 5% maximum daily loss or 12% maximum loss rules. When it comes to time limitations, note that you have no maximum trading day requirements during phase one. However, you are required to trade a minimum of five trading days in order to proceed to phase two.
Evaluation phase two requires a trader to reach a profit target of 5% while not surpassing their 5% maximum daily loss or 12% maximum loss rules. When it comes to time limitations, note that you have no maximum trading day requirements during phase two. However, you are required to trade a minimum of five trading days in order to proceed to a funded account. After completing phase two, you are also awarded 2% of the profit made in phase one evaluation.
By completing both evaluation phases, you are awarded a funded account where you should consider the minimum withdrawal policy. You are only required to respect the 5% maximum daily loss and 12% maximum loss rules. Your first payout is 30 calendar days from the day you place your first position on your funded account. In this time period, you are required to trade a minimum of 10 calendar days. Your first payout consists of 75% of the profit made on the funded account, with an addition of 4% profit made in phase two evaluation and a 112% refund of your initial paid fee. After successfully receiving your first payout, your payouts become bi-weekly. Your profit split is also increased to 80% in month two and to 85% for month three and onward.
Minimum withdrawal policy of Evaluation program accounts:
- For account sizes $5k, $10k, and $20k, the required profit is $50.
- For account sizes $50k and $1000k, the required profit is $100.
- For account sizes $200k and $300k, the required profit is $150.
VIP Reward program
The VIP Reward program is a brand-new feature that will award consistent traders who do the work to obtain success. It has specific requirements that a trader is required to fulfill to be eligible.
VIP Reward program requirements:
- Received a minimum of 5 payouts
- Trading for a minimum of 3 months
- Consistent trading style through the 3 month period (all-in or high-risk trading style doesn’t qualify an individual)
- No account violations during the 3 month period
VIP Reward program benefits:
- 90% profit split
- Ability to withdraw at any time, with no restrictions (the payout request button will always be active if you are in profit)
- Semi-automated payout confirmation (money in your Deel account within 10 hours)
- Other benefits that may occasionally appear in your mailbox
Evaluation program account scaling plan
Evaluation program accounts also have a scaling plan. You are required to reach a profit target of 10% or more within a four-month period where two out of the four months were profitable. You will receive an account increase of 30% of the original account balance.
Example:
After 4 months: If you have a $200,000 account, your account balance will increase to $260,000.
After next 4 months: Balance of $260,000 increases to $320,000.
After next 4 months: Balance of $320,000 increases to $380,000.
And so on…
Trading instruments for the evaluation program accounts are forex pairs, commodities, indices, and cryptocurrencies.
Evaluation program account rules
- Profit target is a specific percentage of profit that a trader is required to obtain before they can complete an evaluation phase, withdraw profits, or scale their account. Phase 1 profit target is 8% while phase 2 has a profit target of 5%. Funded accounts require traders to respect the minimum withdrawal policy.
- Maximum daily loss is the maximum loss a trader can reach on a daily basis before the account is violated. All account sizes have a maximum daily loss of 5%.
- Maximum loss is the maximum loss a trader can reach overall before the account is violated. All account sizes have a maximum loss of 12%.
- Minimum trading days is the minimum period which you are required to trade for before you can complete an evaluation phase, or request a withdrawal. Both phases have a 5 minimum trading day requirement. However, on a funded account, you are required to trade a minimum of 10 trading days before being eligible for a payout.
Accelerated program accounts
The last option My Forex Funds are offering is an Accelerated account program which has the following two options to choose from:
- Conventional
- Emphatic
Accelerated program accounts have no maximum daily loss rule, only a maximum loss rule. There are also no time limitations, lot size restrictions, or consistency rules to follow. Another positive feature accelerated account programs have is that there are no profit targets required to be eligible for weekly payouts.
Conventional accelerated program accounts
Conventional accelerated program account allows you to skip the evaluation period and jump directly into trading a funded account and earning profit splits. You are awarded 50% profit splits based on the profit you make while trading with 1:50 leverage.
You can see the scaling plan for the conventional model below:
| Account Size | Phase 1 | Phase 2 | Phase 3 | Phase 4 | Phase 5 | Phase 6 | Phase 7 | Phase 8 | Phase 9 |
|---|---|---|---|---|---|---|---|---|---|
| $2,000 | $4,000 | $6,000 | $12,000 | $18,000 | $36,000 | $54,000 | $108,000 | $162,000 | $324,000 |
| $5,000 | $10,000 | $15,000 | $30,000 | $45,000 | $90,000 | $135,000 | $270,000 | $405,000 | – |
| $10,000 | $20,000 | $30,000 | $60,000 | $90,000 | $180,000 | $270,000 | $540,000 | – | – |
| $20,000 | $40,000 | $60,000 | $120,000 | $180,000 | $360,000 | $540,000 | $108,000 | – | – |
| $50,000 | $100,000 | $150,000 | $300,000 | $450,000 | $900,000 | $1,350,000 | – | – | – |
Conventional accelerated program accounts also have a scaling plan which you can see in the spreadsheet above. To become eligible to scale your account the only requirement is to reach a profit target of 10%. You are eligible to scale your account once every pay period. Another positive feature you should consider is that your withdrawals won’t affect your account from scaling up. Your account will be eligible for scaling when your total profits reach the 10% profit target.
Example:
The profit target for this account type is 10%.
Week 1: You gain 4% and withdraw 50% of your profits.
Week 2: You gain 7% and withdraw 50% of your profits.
Your total profits have reached 11% which makes you eligible for a scale-up since you have reached the 10% profit target.
Emphatic accelerated program accounts
Emphatic accelerated program account allows you to skip the evaluation period and jump directly into trading a funded account and earning profit splits. You are awarded 50% profit splits based on the profit you make while trading with 1:100 leverage.
You can see the scaling plan for the emphatic model below:
| Account Size | Phase 1 | Phase 2 | Phase 3 | Phase 4 | Phase 5 | Phase 6 | Phase 7 | Phase 8 | Phase 9 | Phase 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| $2,000 | $4,000 | $6,000 | $12,000 | $18,000 | $36,000 | $54,000 | $108,000 | $162,000 | $324,000 | $486,000 |
| $5,000 | $10,000 | $15,000 | $30,000 | $45,000 | $90,000 | $135,000 | $270,000 | $405,000 | $810,000 | |
| $10,000 | $20,000 | $30,000 | $60,000 | $90,000 | $180,000 | $270,000 | $540,000 | $810,000 | ||
| $20,000 | $40,000 | $60,000 | $120,000 | $180,000 | $360,000 | $540,000 | $1,080,000 | $1,620,000 | ||
| $50,000 | $100,000 | $150,000 | $300,000 | $450,000 | $900,000 | $1,350,000 | $2,020,000 |
Emphatic accelerated program accounts also have a scaling plan which you can see in the spreadsheet above. To become eligible to scale your account the only requirement is to reach a profit target of 20%. You are eligible to scale your account once every pay period. Another positive feature you should consider is that your withdrawals won’t affect your account from scaling up. Your account will be eligible for scaling when your total profits reach the 20% profit target.
Example:
The profit target for this account type is 20%.
Week 1: You gain 8% and withdraw 50% of your profits.
Week 2: You gain 14% and withdraw 50% of your profits.
Your total profits have reached 22% which makes you eligible for a scale-up since you have reached the 20% profit target.
Trading instruments for the accelerated program accounts are forex pairs, commodities, indices, and cryptocurrencies.
Accelerated program account rules
- Maximum loss is the maximum loss a trader can reach overall before the account is violated. All account sizes have a maximum loss of 5%.
- No EAs allowed means that traders are not allowed to use any type of EA services. Only expert advisors for copying purposes are allowed.
- No weekend holding means that traders are not allowed to hold open positions during the weekends.
What makes My Forex Funds different from other prop firms?
My Forex Funds differs from most industry-leading prop firms due to offering three different funding programs: Rapid, Evaluation, and Accelerated. They also have almost no restrictions on your trading style, you can trade during news, hold trades overnight, and during the weekends (except on accelerated programs).
Compared to other prop firms, My Forex Funds’ rapid program is completely unique since it is a three-month period in which a trader is awarded a 12% profit split despite being in a demo environment. The leverage offered is 1:500 while only being required to follow the three minimum trading days per week, 5% maximum daily loss, and 12% maximum loss rules. Another difference of the rapid program from other programs is that traders are allowed to choose from consistency enabled or no consistency accounts. However, rapid programs don’t have a scaling plan.
My Forex Funds evaluation program, on the other hand, is a two-phase evaluation program that requires traders to complete two phases before being eligible for payouts. The profit target is 8% in phase one and 5% in phase two, with a 5% maximum daily and 12% maximum loss rules. You are also required to trade for a minimum of 5 days in each phase before becoming funded. Evaluation programs also have a scaling plan. Compared to other industry-leading prop firms, they have relatively low profit targets and minimum trading days.
Example of comparison between My Forex Funds & 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: Unlimited Phase 2: Unlimited | Phase 1: Unlimited Phase 2: Unlimited |
| Profit Split | 75% up to 90% | 80% up to 90% |
Example of comparison between My Forex Funds & True Forex Funds:
| Trading objectives | My Forex Funds | True Forex Funds (Limitless) |
|---|---|---|
| Phase 1 Profit Target | 8% | 8% |
| Phase 2 Profit Target | 5% | 5% |
| Maximum Daily Loss | 5% | 5% |
| Maximum Loss | 12% | 10% |
| Minimum Trading Days | 5 Calendar Days | 5 Calendar Days |
| Maximum Trading Period | Phase 1: Unlimited Phase 2: Unlimited | Phase 1: Unlimited Phase 2: Unlimited |
| Profit Split | 75% up to 90% | 80% |
Example of comparison between My Forex Funds & The Funded Trader:
| Trading objectives | My Forex Funds | The Funded Trader (Standard) |
|---|---|---|
| Phase 1 Profit Target | 8% | 10% |
| Phase 2 Profit Target | 5% | 5% |
| Maximum Daily Loss | 5% | 5% (6% with Add-on) |
| Maximum Loss | 12% | 10% (12% with Add-on) |
| Minimum Trading Days | 5 Calendar Days | 3 Calendar Days |
| Maximum Trading Period | Phase 1: Unlimited Phase 2: Unlimited | Phase 1: Unlimited Phase 2: Unlimited |
| Profit Split | 75% up to 90% | 80% up to 90% |
Compared to other prop firms, My Forex Funds also have accelerated programs which are direct funding programs. You can choose between conventional and emphatic accelerated programs that have no maximum daily loss rule, only a maximum loss rule. You also have no time limitations, lot size restrictions, or consistency rules to follow. Another positive feature is that there are no profit targets required to be eligible for weekly profit splits of 50%. Accelerated programs also have a scaling plan.
In conclusion, My Forex Funds is different from other industry-leading prop firms by offering three different funding programs. In addition, they also offer traders relaxed trading rules which makes them a great choice for any trader, no matter the experience.
Is getting My Forex Funds capital realistic?
It’s essential to see how realistic the trading requirements are when looking at prop firms that best suit your forex trading style. For example, a company offering a high % profit split on a highly funded account sounds great, but if they expect high % gains per month with low % maximum drawdowns, your chances of success become close to zero.
Receiving capital from rapid programs is realistic, especially since you have no profit targets, and you start earning 12% profit splits from the three-month demo environment. You also have relaxed trading rules with a chance to choose between consistency enabled or no consistency accounts.
Receiving capital from evaluation programs is realistic mostly since they have relatively low profit targets (8% in phase one and 5% in phase two) with relatively high maximum loss rules (5% maximum daily and 12% maximum loss).
Receiving capital from accelerated programs is also realistic since they are direct funding programs where you can start earning from the start. You have no profit targets to reach while being able to request your withdrawal on a weekly basis.
After considering all of that, My Forex Funds is an excellent choice to get funded since you have three different funding programs you can choose from that have realistic trading objectives to follow and conditions to receive payouts.
Payment proof
My Forex Funds is a proprietary trading firm founded by Anurag Jaiswal in July 2020. They offer bi-weekly or monthly payouts depending on the program account you choose.
You can see proof of payment on their Discord channel.
You can also see two examples in the pictures below:
Which broker do My Forex Funds use?
My Forex Funds has its brokers named Traders Global Group as their trading server. It is provided by an institutional fintech company that provides them with liquidity. They do not require regulation since they are a proprietary trading firm that uses their company’s money for live account funding of their traders.
As for trading platforms, they allow you to trade on the following:
Trading instruments
My Forex Funds offers a large variety of trading instruments. You are allowed to trade forex pairs, commodities, indices, and cryptocurrencies.
| FOREX: | AUDCAD | AUDCHF | AUDJPY | AUDNZD | AUDUSD |
| CADCHF | CADJPY | CHFJPY | EURAUD | EURCAD | EURCHF |
| EURGBP | EURJPY | EURNZD | EURUSD | GBPAUD | GBPCAD |
| GBPCHF | GBPJPY | GBPNZD | GBPUSD | NZDCAD | NZDCHF |
| NZDJPY | NZDUSD | USDCAD | USDCHF | USDJPY | EURCZK |
| EURNOK | EURSEK | EURTRY | ERUZAR | GAUTRY | GAUUSD |
| GBPNOK | GBPSEK | GBPSGD | GBPTRY | SGDJPY | USDCZK |
| USDDKK | USDHKD | USDMXN | USDNOK | USDSEK | USDTRY |
| USDZAR |
| COMMODITIES: | XAUUSD | XAGUSD | XPDUSD | XPTUSD |
| INDICES: | AUS200 | ESP35 | FRA40 | GER30 | HK50 |
| JPY225 | NAS100 | SPX500 | UK100 | UKOil | US30 |
| USOil |
| CRYPTO: | BTCUSD | ETHUSD | LTCUSD | DSHUSD |
Trading fees
Trading commission:
| Assets | Fee terms |
|---|---|
| FOREX | 3 USD / LOT |
| COMMODITIES | 3 USD / LOT |
| INDICES | 0 USD / LOT |
| CRYPTO | 0 USD / LOT |
Spread:
In order to check the live spreads login to the trading account below:
| Platform | Server | Login number | Password | Download platform |
|---|---|---|---|---|
Education & Support for traders
My Forex Funds does not provide educational content. You can find some posts on their blog about some basics that you can consider going through. You can check out their blog by clicking here.
They also have their thread on ForexFactory, which you can access by clicking here.
There is also another thread named ‘’PROP FIRM HUB’’ on Forex Factory that they often get mentioned in, made by MasterrMind. You can check it out by clicking here.
My Forex Funds also provides its traders with a well-developed dashboard where they can track their progress and analyze their past trades. This way, they can manage risk more efficiently while also having 24/7 statistics on display of their most important trading objectives.
Traders’ comments about My Forex Funds
My Forex Funds are currently under regulatory investigation. They have had their business temporarily frozen, resulting in deactivation of their website.
On Trustpilot they are currently also frozen because My Forex Funds website is inactive, meaning that you cannot post any reviews regarding their company. That said, we will have to wait until they face the regulatory charges in order for us to receive more information about their company’s future.
Previously, their community had a very high and positive rating of My Forex Funds. You can see some examples below.
They also have a fast and reliable support team that will provide you with all the necessary information you require from them or if you are unsure of anything.
A vast majority of their community praises their customer support and their efficiency.
Another thing that gets mentioned a lot is that they provide live accounts and not demo versions from which trades get copied.
Social media statistics
My Forex Funds can also be found on social media.
They have a:
- Facebook page with 22k followers,
- Twitter account with 2,091 followers, and
- Instagram account with 92.9k followers.
They also have their Discord channel with over 144,000 members, where you can ask for support or just community with the rest of their community.
Support
My Forex Funds has a FAQ page to find your required information.
The support team is available on their social media, or you can directly contact them on their email [emailprotected].
You can also contact them with your message on their website by clicking here.
Registration process
1. Trading platform selection
2. Sign-up for My Forex Funds
3. Receive the order confirmation
4. Completed registration
5. Receive your login credentials (instant)
6. User dashboard
7. Phase 1 completed
8. Receive your login credentials for phase 2 (after your dashboard refreshes and you upgrade your account)
Conclusion
In conclusion, My Forex Funds is a legitimate proprietary trading firm that offers traders a chance to choose between three different funding programs: Rapid, Evaluation, and Accelerated.
Rapid programs aim to acquire knowledge about a trader’s capabilities in the three-month period before giving them access to trade with their live funds. A significant advantage of the rapid program account is the 12% bonus profit payouts you receive despite trading in a demo environment. With rapid programs, you can earn up to 80% profit splits.
Evaluation programs are an industry-standard two-phase evaluation challenge that requires the completion of two phases before becoming funded and being eligible to earn profit splits. My Forex Funds require traders to reach profit targets of 8% in phase one and 5% in phase two before becoming funded. These are realistic trading objectives considering you have a 5% maximum daily and 12% maximum loss rules to follow. With evaluation programs, you can earn up to 90% profit splits while also being able to scale your accounts.
Accelerated programs are actually direct funding programs that allow you to skip the evaluation period and jump directly into trading a funded account and earning weekly profit splits. There are also no time limitations, lot size restrictions, or consistency rules to follow. With accelerated programs, you can earn 50% profit splits while also being able to scale your accounts.
I would recommend My Forex Funds to any trader, no matter the experience. Beginners can choose to start with rapid programs, while more experienced traders can choose evaluation programs and go through a two-phase evaluation or accelerated programs and start earning on a weekly basis. After considering everything My Forex Funds have to offer, they are for sure one of the industry-leading prop firms.
This review about My Forex Funds was lastly updated on 04.10.2023 at 08:21 (CE(S)T).
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