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MyFundedFX presents an intriguing proposition for traders looking to manage substantial simulated capital, up to $600,000. This proprietary trading firm offers a unique blend of flexibility and opportunity, particularly appealing to those keen on mastering the art of trading.
The Platform
The Payout
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Core Features
- Profit Sharing and No Scaling Plan: Traders receive an impressive 80% of profits earned, a competitive rate in the industry, and no scaling plan is required, simplifying the profit structure.
- Live Simulated Accounts: With up to $600,000 in funded simulated accounts, MyFundedFX provides a substantial platform for traders to experiment and grow. The absence of maximum trading days and the ability to start with a live sim account in as little as two days are noteworthy benefits. The firm imposes no style restrictions, allowing traders to adopt strategies that best suit their expertise.
- Three-Step Process: The program consists of three stages:
- Taking the Challenge: Prove your trading skills in a simulated environment.
- Verification: Upon passing the first challenge, traders move to verification with a 5% profit target.
- Live Sim Account: Successful traders can continue trading with up to an 80% profit split. The program offers live sim accounts up to $1.5 million under its scaling plan.
- Trading Challenge and Verification Terms: The initial trading challenge requires reaching an 8% profit target, with no time limit. The verification stage lowers this target to 5%. Both stages have a 1-day minimum trading requirement, a maximum initial account balance loss of 8%, and a 5% maximum daily loss limit
- As a MyFundedFX Trader: Post-verification, traders can trade without specific profit targets, provided they stay within the maximum loss limits. Profit splits can reach up to 80% of simulated profits made on live sim accounts, evaluated every 14 days.
Trading Platforms
Trustpilot Review
What is MyFundedFX and what does it offer?
MyFundedFX is a proprietary trading firm that offers traders the opportunity to manage simulated capital up to $600,000. Participants complete a trading challenge and, upon success, are allowed to manage significant simulated accounts, receiving 80% of the profits generated.
Are there any restrictions on trading style or days with MyFundedFX?
MyFundedFX allows flexibility in trading styles with no consistency rules, meaning traders are free to employ their preferred trading strategies. Additionally, there are no maximum trading days, offering unlimited trading days on all plan types and phases.
How quickly can I get a live simulated account with MyFundedFX?
Traders can get a live simulated account in as little as two days, with no minimum trading days required. This provides a quick transition from the challenge phase to actual trading.
What is the ‘Maximum daily loss’ rule in MyFundedFX?
The ‘Maximum daily loss’ rule, also known as the “trader’s daily stop-loss,” is a risk management measure that sets a limit on the amount a trader can lose in a single day. This helps in maintaining sustainable trading practices.
Does MyFundedFX offer opportunities in futures trading?
Yes, MyFundedFX has a dedicated platform called MyFundedFutures for traders interested in futures. This platform is designed to empower traders specifically in the domain of the future, offering tailored resources and support.
Conclusion
MyFundedFX stands out with its high profit-sharing ratio, no trading style restrictions, and a clear, structured path from beginner to advanced trading levels. Its unique approach to training and trading offers a compelling package for both novice and seasoned traders. The firm’s emphasis on flexibility, combined with a straightforward profit-sharing scheme, positions it as a significant player in the simulated trading arena.
Risk Warning: It’s essential to remember that trading involves risk, and the content on the ProdanAdvisor website is for general information only. The service and company website are provided on an “as-is” basis and without warranty of any kind.
