Overview
My Funded FX, established in 2022 and headquartered in Dallas, Texas, offers traders the opportunity to manage funded accounts by passing evaluation challenges. The firm provides various account types and aims to support traders in achieving financial independence through trading.
Evaluation Model
My Funded FX offers multiple evaluation models:
- Evaluation Model: A two-phase challenge requiring traders to meet specific profit targets within defined drawdown limits.
- Express Model: A single-phase challenge with a higher profit target but quicker access to funded accounts.
These models cater to different trader preferences and experience levels.
Profit Split
Traders receive up to 80% of the profits generated on funded accounts. This competitive split allows traders to maximize their earnings while trading with the firm’s capital.
Payments & Withdrawals
Payouts are processed bi-weekly, with the first payout available 7 days after becoming a funded trader. Traders can request withdrawals via various payment methods, including bank transfers and cryptocurrencies.
Regulation & Security
While My Funded FX is not regulated by major financial authorities, it emphasizes secure trading environments and adheres to industry-standard practices to protect trader data and funds.
Maximum Funded Capital
Traders can scale their accounts up to $1.5 million through consistent performance and adherence to the firm’s trading rules.
Drawdown Rules
- Maximum Daily Drawdown: 5%
- Maximum Overall Drawdown: 8%
These rules are designed to encourage disciplined trading and effective risk management.
Trading Platforms
My Funded FX supports trading on the MetaTrader 4 (MT4) platform, providing traders with a familiar and reliable interface for executing trades.
Scaling Plan
The firm offers a scaling plan that allows traders to increase their account sizes based on consistent profitability and adherence to trading rules. Specific details of the scaling plan are provided to traders upon reaching certain milestones.
Payout Process
Payouts are processed every two weeks, with the first payout available after 7 days of trading on a funded account. Traders can request withdrawals through various methods, ensuring flexibility and convenience.
Available Trading Instruments
Traders have access to a wide range of instruments, including:
- Forex Pairs: Major, minor, and exotic currency pairs.
- Indices: Global indices such as S&P 500, NASDAQ, and DAX.
- Commodities: Gold, silver, oil, and other commodities.
- Cryptocurrencies: Bitcoin, Ethereum, and other major cryptocurrencies.
Account Sizes
My Funded FX offers various account sizes to accommodate different trader needs:
- $5,000
- $10,000
- $25,000
- $50,000
- $100,000
- $200,000
Traders can choose the account size that best fits their trading strategy and goals.
Profit Target
- Evaluation Model:
- Phase 1: 8% profit target within 30 days.
- Phase 2: 5% profit target within 60 days.
- Phase 1: 8% profit target within 30 days.
- Express Model: 10% profit target within 30 days.
These targets are designed to assess a trader’s ability to generate consistent profits while managing risk effectively.
MY FUNDED FX Rating Table
Feature
Rating (Out of 10)
Evaluation Model
8.5
Profit Split
8.0
Payments & Withdrawals
8.5
Regulation & Security
7.0
Maximum Funded Capital
9.0
Drawdown Rules
8.0
Trading Platforms
7.5
Scaling Plan
8.0
Payout Process
8.5
Trading Instruments
8.0
Account Sizes
8.5
Profit Targets
8.0
Overall Score
8.1
Final Verdict
My Funded FX offers a compelling opportunity for traders seeking to manage funded accounts with flexible evaluation models, competitive profit splits, and a variety of trading instruments. While the firm is relatively new and lacks major regulatory oversight, its transparent rules, scaling opportunities, and prompt payout processes make it an attractive option for both novice and experienced traders.