MyFundedFX Review
MyFundedFX, legally known as MyFunded Solutions, LLC since its June 2022 incorporation, is based in Dallas, Texas. Managed by CEO Matthew Leech, the firm offers traders five account types and various evaluations, including two two-step, two one-step, and one three-step. They partner with brokers ThinkMarkets and Purple Trading Seychelles.
- Platforms for Prop Trading: Match Trader, DX Trader
- Participation cost: from $32 to $392
- Available capital for management: from $5,000 to $100,000
- Leverage Available up to 1:100
- Five unique funding programs
- Professional trader dashboard
- Trade a variety of instruments: Forex, commodities, indices, cryptocurrencies
- No trading day minimums or maximums
- Scaling plan with maximum daily and total drawdown features
- First payout in 7 or 14 days, depending on challenge
- Bi-weekly or weekly payouts, depending on challenge
- Profit share from 80% to 92.75%
- Overnight and weekend holding allowed
- Balance-based drawdown
Go to the MyFundedFX website >>>
Expert Advisors Suitable for this Prop Firm:
MyFundedFX Programs
MyFundedFX offers challenge programs that allow traders to operate without risking personal capital. Successful participants receive payments based on their profits, with opportunities to manage accounts up to $300,000 and earn up to 92.75% in profit splits. Traders can deal in various financial instruments such as forex pairs, commodities, indices, and cryptocurrencies.
Two-step Challenge MyFundedFX Program
MyFundedFX rules:
- Profit Target: In Phase 1, traders must hit an 8% profit target, while Phase 2 requires 5%. Funded accounts have no set profit targets.
- Maximum Daily Loss: Traders can lose up to 5% daily across all account sizes, scalable to 8%.
- Maximum Loss: The overall loss limit is 8%, scalable to 14% for all account sizes.
- No News Trading: Trading around high-impact news is prohibited. This includes opening or closing trades 3 minutes before and after news announcements, applicable only to funded accounts.
Participation cost:
- $5,000 - $50
- $10,000 - $100
- $25,000 - $200
- $50,000 - $300
- $100,000 - $500
- $200,000 - $950
- $300,000 - $1,399
MyFundedFX’s Two-step Challenge allows traders to manage accounts from $5,000 to $300,000, seeking those who are profitable and adept at risk management. Participants can trade with up to 1:100 leverage.
Phase One: Achieve an 8% profit target without exceeding a 5% maximum daily loss or an 8% total loss. There are no minimum or maximum trading day requirements. Advancing to phase two requires meeting the 8% profit target without violating loss limits.
Phase Two: Attain a 5% profit target while adhering to the same loss rules as in phase one. Similar to the first phase, there are no trading day constraints. Successful completion and adherence to loss limits result in progressing to a funded account.
Successfully passing both phases grants access to a funded account, where traders must maintain the established loss rules. The first payout is issued 14 days after initiating the first trade, with subsequent bi-weekly withdrawal opportunities. Profit shares range from 80% to 92.75%, based on earnings.
The Two-step Challenge includes a scaling plan that rewards consistent profitability. Traders who achieve an average return of 12% over a three-month period qualify for a 25% increase in their initial account size.
Scaling Examples:
- After 3 Months: A trader with a $100,000 account that meets the criteria can scale up to $125,000.
- After the Next 3 Months: If the trader continues to qualify, their $125,000 account increases to $150,000.
- After the Next 3 Months: Maintaining consistent performance can push the account from $150,000 to $175,000.
Continued Eligibility: This pattern continues with each successful three-month period, allowing further account growth.
Two-step Max Challenge MyFundedFX Program
MyFundedFX rules:
- Profit Target: Traders must meet a 10% profit target in Phase 1 and a 5% target in Phase 2 to conclude evaluations, withdraw earnings, or scale their accounts. Funded accounts do not have set profit targets.
- Maximum Daily Loss: The limit for daily losses is 5% in Phase 1 and 4% in Phase 2 and once funded, with the possibility to scale up to 8%.
- Maximum Loss: The overall loss limit is set at 10% for Phase 1 and 8% for Phase 2 and once funded, with an option to scale up to 14%.
- No News Trading: Trading during high-impact news releases is restricted, prohibiting the execution of new trades or the closing of existing trades within a 3-minute window before and after the news announcement, applicable only to funded accounts.
Participation cost:
- $5,000 - $38
- $10,000 - $75
- $25,000 - $140
- $50,000 - $210
- $100,000 - $425
- $200,000 - $725
MyFundedFX’s Two-step Max Challenge offers traders the chance to manage accounts ranging from $5,000 to $200,000, aiming to spot proficient traders who can manage risk effectively throughout the evaluation phases. This challenge features leverage of up to 1:50 in phase one and 1:30 in phase two and upon funding.
Phase One Evaluation:
- Profit Target: Achieve 10% without exceeding a 5% daily loss or a 10% total loss.
- Trading Days: No minimum or maximum day requirements.
- Advancement: Must meet the 10% profit target adhering to loss limits to move to phase two.
Phase Two Evaluation:
- Profit Target: Reach 5% while keeping within a 4% daily loss and an 8% total loss limit.
- Trading Days: No restrictions on the number of trading days.
- Funding: Achieve the 5% profit target within set loss boundaries to qualify for a funded account.
Post-Evaluation:
- Upon successful completion, traders are granted a funded account with leverage at 1:30, adhering to a 4% maximum daily loss and an 8% total loss rule. The first payout occurs 14 days after the initial trade, with subsequent bi-weekly withdrawals available. Profit shares range from 80% to 92.75%, depending on the earnings from the funded account.
The Two-step Max Challenge includes a scaling plan designed to reward consistent profitability. Traders who maintain an average return of 12% over a three-month period become eligible for a 25% increase in their initial account size.
Scaling Plan Example:
- After 3 Months: A trader with an initial $100,000 account that meets the criteria will have their account increased to $125,000.
- After the Next 3 Months: If the trader continues to qualify, the now $125,000 account grows to $150,000.
- After the Next 3 Months: With sustained performance, the account further escalates from $150,000 to $175,000.
Continuing the Pattern: This cycle continues for every successful three-month period of meeting the performance threshold, allowing further growth of the account size.
One-step Challenge MyFundedFX Program
MyFundedFX rules:
- Profit Target: Traders are required to reach a 10% profit during the evaluation phase to successfully complete it, withdraw earnings, or qualify for account scaling. Funded accounts, however, do not have set profit targets.
- Maximum Daily Loss: The daily loss limit is set at 4% across all account sizes, with the possibility to scale up to 6%.
- Maximum Trailing Loss: This is defined by the gap between the highest account balance achieved and the lowest point reached during a drawdown. All account sizes are subject to a maximum trailing loss of 6%, which can be scaled up to 12%.
- No News Trading: High-impact news periods restrict trading. Opening new trades or closing existing ones on specified instruments is prohibited within a 3-minute window before and after such news announcements, applicable only to funded accounts.
Participation cost:
- $5,000 - $50
- $10,000 - $100
- $25,000 - $200
- $50,000 - $300
- $100,000 - $500
- $200,000 - $950
- $300,000 - $1,399
MyFundedFX offers a One-step Challenge that provides traders the opportunity to manage accounts ranging from $5,000 to $300,000. The program is designed to find disciplined traders who can demonstrate profitability and effective risk management within a one-step evaluation period. Participants can trade with leverage up to 1:100.
Evaluation Requirements:
- Profit Target: Traders must achieve a 10% profit without exceeding a 4% maximum daily loss or a 6% maximum trailing loss.
- Time Limitations: There are no minimum or maximum trading day requirements during this phase.
- Progression: To move to funded status, the only requirement is reaching the 10% profit target while adhering to the loss limits.
Post-Evaluation Benefits:
- Upon successfully completing the evaluation, traders receive a funded account.
- Loss Limits: The funded account maintains the same loss rules—4% maximum daily loss and 6% maximum trailing loss.
- Payouts: The first payout occurs 14 days after the first trade is placed in the funded account, with options for bi-weekly withdrawals thereafter.
- Profit Share: Traders earn between 80% and 92.75% of the profits generated in their funded accounts.
The One-step Challenge features a scaling plan designed to reward consistent profitability. Traders who achieve an average return of 12% over a three-month period qualify for a 25% increase in their account size.
Scaling Plan Example:
- After 3 Months: A trader managing a $100,000 account that meets the performance criteria will have their account increased to $125,000.
- After the Next 3 Months: Continuing to meet the criteria, the account grows from $125,000 to $150,000.
- After the Next 3 Months: With sustained profitability, the account size rises to $175,000.
- Continued Eligibility: This pattern repeats for each successful three-month period, allowing further expansion of the account size.
One-step Max Challenge MyFundedFX Program
MyFundedFX rules:
- Profit Target: Traders need to reach an 8% profit during the evaluation phase to successfully complete it, withdraw earnings, or qualify for account scaling. Funded accounts, however, do not have predefined profit targets.
- Maximum Daily Loss: There's a soft breach limit set at 2% for all account sizes. Hitting this limit allows traders to continue trading on the following day.
- Maximum Loss: The overarching loss limit across all account sizes is 8%.
- No News Trading: Trading during periods of high-impact news is not allowed. This restriction includes executing new trades or closing existing trades within a 3-minute window before and after high-impact news announcements, applicable only to funded accounts.
Participation cost:
- $5,000 - $42
- $10,000 - $80
- $25,000 - $170
- $50,000 - $240
- $100,000 - $399
- $200,000 - $799
MyFundedFX's One-step Max Challenge offers traders the chance to oversee accounts ranging from $5,000 to $200,000. This challenge is designed to pinpoint disciplined and profitable traders capable of effective risk management within a one-step evaluation period. Participants are permitted to use leverage up to 1:100.
During the evaluation, traders must achieve an 8% profit target while adhering to a 2% maximum daily loss (soft breach) and an overall 8% maximum loss limit. There are no restrictions on the number of trading days, but a daily gain cap of 2% is enforced. To advance to funded status, traders need only meet the 8% profit target without exceeding the stipulated loss limits.
Successful completion of the evaluation phase grants access to a funded account, which imposes no minimum withdrawal limits. Funded traders must comply with a 4% maximum daily loss and an 8% maximum loss guideline, and maintain the 2% daily gain cap. The first payout is issued 7 days after the first trade is placed, with subsequent withdrawals possible on a weekly basis. Profit shares are set at 80% of the gains from the funded account.
The One-step Max Challenge incorporates a scaling plan designed to reward sustained profitability. Traders who maintain an average return of 12% over each three-month period qualify for a 25% increase in their initial account size.
Scaling Plan Details:
- After 3 Months: A trader with an initial account of $100,000 who meets the criteria will see their account increase to $125,000.
- After Another 3 Months: If the trader continues to achieve the necessary performance, the now $125,000 account grows to $150,000.
- Subsequent 3 Months: Continuing successful trading results in the account increasing from $150,000 to $175,000.
- Ongoing: This pattern of growth continues for each successful three-month cycle, enabling further increases in account size based on consistent profitability.
Three-step Challenge MyFundedFX Program
MyFundedFX rules:
- Profit Target: Traders must hit a 6% profit margin during any of the three evaluation phases to successfully conclude the phase, withdraw earnings, or qualify for scaling their trading account. Funded accounts do not have preset profit targets.
- Maximum Daily Loss: There is a cap of 4% on losses that can be incurred in a single trading day across all account sizes, preventing account breach.
- Maximum Loss: The overall permissible loss limit is set at 8% for all account sizes, beyond which the account is considered breached.
- No News Trading: Trading during the release of high-impact news is not allowed. This rule restricts the execution of new trades or the closing of existing trades on the specified instruments within a 3-minute window both before and after the news announcement, applicable only to funded accounts.
Participation cost:
- $5,000 - $42
- $10,000 - $80
- $25,000 - $170
- $50,000 - $240
- $100,000 - $399
- $200,000 - $799
MyFundedFX's Three-step Challenge offers traders the opportunity to manage account sizes ranging from $10,000 to $300,000, targeting talented traders who can consistently achieve profitability and manage risk. The challenge facilitates trading with up to 1:50 leverage.
Evaluation Phases:
Phase One: Traders must achieve a 6% profit target without exceeding a 4% maximum daily loss or an 8% overall loss. There are no restrictions on the number of trading days. Advancement to phase two requires meeting the 6% profit target while adhering to loss limits.
Phase Two: The criteria mirror phase one, with traders needing to reach another 6% profit target under the same loss conditions. Progression to phase three requires adherence to these same guidelines.
Phase Three: Once again, traders must hit a 6% profit without surpassing the 4% daily or 8% total loss limits. Successful completion under these conditions leads to funded status.
Post-Evaluation Benefits:
- Upon successful completion of all three phases, traders receive a funded account with no minimum withdrawal requirements.
- Loss restrictions remain at 4% daily and 8% maximum.
- The first payout is issued 14 days after the initial trade in the funded account, with subsequent withdrawals allowed bi-weekly.
- Profit distribution is set at 80% of the gains generated from the funded account.
This structured approach ensures that only traders who can demonstrate consistent performance and risk management advance to funded status.
The Three-step Challenge incorporates a scaling plan that rewards consistent profitability. Traders who sustain an average return of 12% over each three-month period are eligible for a 25% increase in their initial account size.
Scaling Plan Example:
- After 3 Months: A trader with an initial $100,000 account that achieves the required performance will see their account increase to $125,000.
- After Another 3 Months: If the trader continues to meet the 12% return target, the account size grows from $125,000 to $150,000.
- Subsequent 3 Months: Maintaining successful performance boosts the account from $150,000 to $175,000.
Ongoing Eligibility: This pattern continues, with each successful three-month period of meeting the performance threshold enabling further growth of the account size.
The Best Prop Firm passed software are here:
MyFundedFX, incorporated in June 2022, is a proprietary trading firm known for its significant community of traders who have achieved funded status and are eligible for substantial profit splits.
Payouts and Profit Splits:
- General Policy: For traders participating in the Two-step Challenge, Two-step Max Challenge, One-step Challenge, or Three-step Challenge, the initial payout is scheduled 14 days after reaching funded status. Subsequent payouts occur every 14 days, provided the trader's account balance exceeds the initial amount. Profit splits range from a generous 80% to 92.75%, depending on the profits generated.
- One-step Max Challenge Specifics: For this challenge, the initial payout is expedited to 7 days after reaching funded status, with subsequent payouts also scheduled every 7 days under the same conditions as above. The profit split for this challenge is fixed at 80%.
Verification of Payouts:
- External Reviews: Traders can verify the authenticity of MyFundedFX payouts through reviews on Trustpilot, where numerous traders share their experiences and confirm the receipt of their earnings.
- Social Proof: Further evidence of payouts can be found on MyFundedFX's Discord and YouTube channels, which feature payout certificates from successful traders, showcasing their achievements and the firm's reliability in distributing earnings.
This structure ensures that MyFundedFX supports its traders not only in achieving professional growth but also in reaping financial rewards efficiently and transparently.
MyFundedFX Review and Our opinion about this Prop Firm
MyFundedFX is a distinguished proprietary trading firm known for its reliable and dynamic trading programs, catering to traders with varying levels of expertise and trading goals. The firm offers five distinctive funding programs: Two-step Challenge, Two-step Max Challenge, One-step Challenge, One-step Max Challenge, and Three-step Challenge. These programs are designed to suit different trading styles and provide ample opportunities for growth and profit.
MyFundedFX Program Overviews:
Two-step Challenge: This program involves two phases where traders aim for profit targets of 8% in phase one and 5% in phase two, adhering to a 5% maximum daily loss and 8% maximum overall loss. There are no constraints on trading days, allowing flexibility in trading strategy. This challenge also includes a scaling plan for successful traders to increase their account size.
Two-step Max Challenge: Similar to the Two-step Challenge, this program requires completion of two phases with profit targets of 10% and 5%, respectively. The loss limits are slightly stricter with a 5% maximum daily loss in phase one and 4% in phase two, scaling up to an 8% overall loss once funded. The scaling plan also applies here, providing growth opportunities for traders who consistently perform.
One-step Challenge: This streamlined program requires traders to meet a 10% profit target in a single evaluation phase, with a 4% maximum daily loss and 6% maximum trailing loss. Like the other programs, it offers a flexible trading period and includes a scaling plan to increase the initial account size for successful traders.
One-step Max Challenge: Offering a one-step evaluation with an 8% profit target, this challenge imposes a 2% maximum daily loss (soft breach) and an 8% maximum loss rule. It also features a maximum daily gain limitation of 2%. The program's scaling plan allows for account growth based on consistent profitability.
Three-step Challenge: This comprehensive program requires traders to achieve a 6% profit target in each of the three phases, adhering to a 4% maximum daily loss and 8% maximum loss. The program provides continuous trading flexibility and a scaling plan that rewards consistent success.
Key Features Across All MyFundedFX Challenges:
- Scaling Plans: Each program includes a mechanism to increase the trading account size based on sustained profitability.
- Flexible Trading Periods: Traders can operate without the pressure of minimum or maximum trading day requirements, offering a conducive environment for strategic trading.
- Profit Splits and Withdrawal Policies: Competitive profit splits ranging from 80% to 92.75%, with the first withdrawal available as early as 7 days after reaching funded status, followed by regular bi-weekly or weekly payouts.
Recommendation: MyFundedFX stands out as a top choice for traders seeking a reputable proprietary trading firm that offers exceptional conditions tailored to diverse trading needs. With features like drawdown scaling, unrestricted trading periods, and substantial profit sharing, MyFundedFX is undoubtedly a leader in the proprietary trading industry, providing substantial support and opportunities to traders globally.
