My Forex Funds is a proprietary trading firm founded in July 2020. Their headquarters are located in a region of Canada called the Great Lakes.
Some facts about the firm:
- Low fees
- Leverage 1:50-1:500
- Three account types
- Profit share up to 90%
My Forex Funds Important Update
My Forex Funds shared an important update about the minimum withdrawal policy that started on 1st January 2023.
The firm shared that they have always tried to keep their rules and terms of service trader friendly, due to which thousands of traders can withdraw millions of dollars each week.
But unfortunately, due to the abuse of rules by certain groups, they had to take some steps to prevent it. To ensure that the firm encourages genuine traders, they are implementing a new policy for a minimum withdrawal.
As of 1st January 2023, a trader qualifies for a payout and refund only if they have made the following:
- $50 in profit on a 5k, 10k, and 20k account
- $100 in profit on a 50k to 100k account
- $150 on a 200K to 300K account
Please note that this policy stands only for the Evaluation accounts.
The prop firm requested traders to understand that the processing costs involved with disbursing payouts to their traders are substantial. By implementing the new rule, the firm will only have a chance to cover them and ensure genuine traders are paid.
And you can also read about Prop firms that allow trading stocks by clicking on the link.