My Forex Funds are one of the leading legitimate proprietary trading firms in the industry that is attracting forex traders worldwide. They were incorporated in July 2020 with offices based in Toronto, Canada. They are offering traders a chance to work with capital up to $2,020,000 with a generous profit split up to 85%.
My Forex Funds offers three different funding programs. You can choose between the following:
- Rapid program (beginner challenge)
- Evaluation program (two-step challenge)
- Accelerated program (direct funding)
In this article, however, we are going to do a breakthrough of the evaluation program.
They offer five different account sizes:
- $10,000 account for a one-time fee of $84
- $20,000 account for a one-time fee of $139
- $50,000 account for a one-time fee of $299
- $100,000 account for a one-time fee of $499
- $200,000 account for a one-time fee of $979
The rules of the evaluation program are the following:
- Profit target 1: 8%
- Profit target 2: 5%
- Daily drawdown: 5%
- Overall drawdown: 12%
- Minimum trading days: 5 calendar days
- Phase 1 maximum trading period: 30 calendar days
- Phase 2 maximum trading period: 60 calendar days
- Leverage: 1:100
After successfully completing the evaluation program, you receive a funded account of the same balance as your evaluation account while also becoming eligible for a first-month profit split of 75%, which increases to 80% for the second month and becomes a final 85% at month three and for all future payouts. Also, note that profit splits after the first one become bi-weekly.
As previously mentioned, My Forex Funds also has a scaling plan for the evaluation program that is available to traders who are consistent throughout a longer time period. The requirements to be eligible for the scaling plan are that you must reach a profit target of 10% over a four-month period to scale and increase your account balance by an additional 30%. You should also note that out of the four months, at least two are required to be profitable. This scaling plan doesn’t have an upside cap in balance so it can be scaled ”to the moon” if you are consistently profitable.