MyFundedFx is an innovative prop firm offering funded accounts for prop traders. The founder, Matthew Leech, created this trading company to give you a chance at some serious capital, with offers of up to $300,000 and the potential to scale to $1.5 million.
They have two funding models to suit your trading style. The 1-step model lets you access $50,000 with a single evaluation. For the 2-step model, pass an initial evaluation for $25,000, then scale up to $300,000 by hitting key metrics.
MyFundedFx partnered with Eightcap, so you get reliable liquidity and choice platforms like MT4 and MT5. This partnership also means crypto trading on weekends – perfect if you’re into cryptocurrencies. MyFundedFx builds community. Their Discord server has over 8,000 members sharing strategies and chatting.
Looking for a prop firm that backs you with real money and real support? MyFundedFx could be your funded future. On that note, here is a detailed MyFundedFX review. Read on.
How Does One Get Funding from MyFundedFx?
Unlike funding from other companies, acquiring funding from MyFundedFX is pretty straightforward. They offer two funding programs:
1-Step Funding
To get funding through MyFundedFx’s 1-step model, you must prove your trading skills on a demo account. Once you meet their profit targets, you’re awarded a funded live forex trading account.
First, you pay an upfront fee. The fee is refundable if you don’t meet the funding criteria. You then have an unlimited period to reach a 10% profit target. The maximum loss allowable at any time is 6% and 4% per day.
When your demo account is up 10% net profit, congratulations – you now qualify for a funded live account! The live account is real money, but you keep up to 90% of the profits. MyFundedFx’s unique model means you could get funded in as little as one day if you hit the targets quickly.
2-Step Funding
The 2-step funding option provides an alternative path to get funding from MyFundedFx. This more traditional challenge involves completing two phases with similar trading conditions.
In the first phase, the evaluation phase, you must achieve an 8% profit on your challenge account while respecting the maximum loss limits. There is no time limit, so skilled forex traders can complete this in a matter of days.
In the second phase, the Trader phase, you must replicate the process but with a 5% profit target. Again, no time constraints are placed on this phase.
These challenge accounts come with 100:1 leverage and an entry fee, which MyFundedFx refunds if you meet the trading objectives.
The 2-step funding challenge may take longer, but the traditional progression and lower profit targets appeal to many traders. With skill and persistence, you can get funded through MyFundedFx’s 2-step challenge.
What are The Account Sizes and Prices at MyFundedFX?
MyFundedFx offers various account sizes tailored to suit every type of trader, from beginners to professionals. Their tiered account types allow you to start small and scale up as your skills and capital grow over time. The account size and the corresponding price for each step evaluation are as follows:
- $5,000 account size is available at $50
- $10,000 account size comes at $100
- $25,000 account size for $200
- $50,000 account size at $300
- $100,000 account size comes at a price of $500
- $200,000 account size can be availed for $950
Is It Worth It? The Profit Split
The profit split offered by MyFundedFx is extremely competitive. As a trader, you’ll receive 80% of the profits from your successful trading strategies and risk management. This high percentage is designed to motivate you to achieve your trading goals.
The 1-step- and 2-step funding models provide an 80% profit split, demonstrating MyFundedFx’s commitment to rewarding successful traders fairly and transparently. An 80% split for new traders is almost unheard of and provides a huge incentive to trade well. Even for experienced traders, this level of profit sharing is exceptional and allows you to keep more of what you earn.
Compared to prop firms, MyFundedFx stands out with its trader-friendly profit split. If earning a meaningful share of your profits is a top priority, MyFundedFx could be an ideal place for you to trade. The potential to earn and keep 80% of what you make may be too good of an opportunity to pass up.
MyFundedFX Pros and Cons According to Available MyFundedFx Reviews
According to reviews, MyFundedFx has a lot going for it. Their 4.7-star Trustpilot rating shows traders appreciate their service. Here are some of their pros and cons according to MyFundedFX reviews
Pros
- Swift funding through a simple 1-step process.
- Weekend crypto trading is enabled through the partnership with Eightcap.
- Access to up to $1.5M in trading capital.
- A generous 80% profit split for traders.
- Thriving Discord community with over 8000 members.
- Strong reputation, backed by minimal negative reviews.
- Engaging competitions are held regularly with cash prizes.
Cons
- Limited availability of educational resources.
- No Free Trial option.
- Being a new platform, its long-term reliability is yet to be proven.
Overview MyFundedFX Review
MyFundedFX presents an innovative funding model for forex traders. With flexible trading options and access to substantial capital, this platform caters to diverse strategies.
MyFundedFX’s unique 1-step and 2-step funding process provides an adaptable model for varying risk appetites. Seamless integration of MetaTrader 4 and 5, thanks to Eightcap, adds robustness. Click here to learn more about MyFundedFx.
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