On July 13, 2023, My Forex Funds announced the introduction of the unlimited trading days period for both phases of their evaluation. They received an overwhelming response from the market. As part of the updates, My Forex Funds also announced changes to the price and leverage, originally scheduled for August 1st.
My Forex Funds Price and Leverage Changes
MFF is happy to announce that the price change is postponed until the 1st of September for further evaluation. Also, the CFD leverage will change to 1:50 on all evaluation accounts on the 1st of August.
It was announced during their unlimited time announcement, so please adjust accordingly should you have open positions. The prop firm shared that they will continue to review the leverage change and make updates as they have more data from traders.
The decision to modify the CFD leverage is driven by their commitment to lower the risk their traders are taking to increase traders’ longevity better and to better find matches for the order flows at the liquidity level. MFF has observed that a percentage of over 50% of trader losses are coming from overleveraged CFD trades, specifically in US indices. By implementing this change, MFF aims to increase longevity in trading behavior and provide more order flow month to month, ultimately benefiting all their traders.
Rest assured. They will continuously monitor and assess the impact of this adjustment. They will give regular updates and data points based on their traders’ performance and experiences.
About the Firm
My Forex Funds is a proprietary trading firm founded in July 2020 whose CEO is Murtuza Kazmi. They have offices located in Toronto, Canada.
- Over 12k Trustpilot reviews with an excellent score of 4.9/5
- Direct funded account sizes from $2,000 to $50,000
- The trader receives account fees back +12% on the first payout
- 2% and 4% phase bonuses from the evaluation stages
- Low commission costs