Hi, welcome to My Forex Funds Review.

My Forex Funds claims that your success is their business because they offer you an opportunity to realize your dreams in the forex market.

However, you can’t justify the truth of the program based on these claims, you must have a more convincing reason to join the program.

In this review, I make your research to be easy by providing you with everything you need to know about it.

This includes its meaning, how it works, and the minimum amount of money you will have to pay for you to enjoy their services.

That said, let’s dive in…

IMPORTANT UPDATE: My Forex Funds is facing regulatory freeze orders in the US and Canada, halting its operations. The company is set for court hearings in September.

Here is a statement from the x.com (formally Twitter) profile  of My Forex Funds:

Important Notice 📢

Yesterday we learned that, without prior notice or discussion, a provincial securities regulator in Canada and the commodities regulator in the United States issued orders preventing us from trading securities or accessing funds in our bank accounts.

Until… pic.twitter.com/dKpxmx5axT

— MyForexFunds (@MyForexFunds) September 1, 2023

Summary of My Forex Funds Review

Product Name: My Forex Funds

Product Type: Proprietary Firm

The Founder: Murtuza Kazmi

Evaluation Fee: Starting from $49 which depends on the program and account size you choose

Official Site: https://myforexfunds.com

Overall Rating: 7/10

My Recommendation: Not for everyone; read on to see why

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My Forex Funds Review – Overview

My Forex Funds is one platform that claims to offer traders an opportunity to trade in the forex market.

According to the program, you’ll get the opportunity to trade and earn profits from day one of joining the platform.

You can trade a variety of instruments such as metals, forex pairs, cryptocurrencies, and commodities on the platform.

In addition, the program allows you to use MetaTrader4 and MetatTrader5 platforms enabling you to choose your preferred platform.

The program also allows you to trade with their trust broker the Traders Global Group.

Pros Of My Forex Funds 

• High-profit shares of up to 85%.
• No time limits when trading on the platform.
• No trading restrictions on the platform.
• Allows traders to get their fees back on the first payout.
• Low-profit targets.
• Offers a scaling plan up to a balance of $2,000,000.

Cons Of My Forex Funds 

• Does not offer trading in shares
• Does not allow weekend trading.

Who Should Sign Up with My Forex Funds?

My Forex Funds targets to work with highly skilled traders who want to achieve their financial freedom working online.

This program targets three categories of people, for instance:

In the rapid program, the prop firm targets talented and profitable traders to help them earn bonuses while trading on day one.

In the evaluation program, the platform targets highly skilled traders who want to become professional traders.

Lastly, in the accelerated program, the prop firm targets to work with traders who want to boost their capital and earn more profits from their trade.

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What Is My Forex Funds?

My Forex Funds is a prop firm founded in July 2020 with the aim of becoming the leading proprietary firm in the forex market.

The prop firm was created by Murtuza Kazmi in Toronto, Canada, and is still the CEO of the company.

In the beginning, the company gained a reputation as its first account-type intermediate success.

According to the platform, the first trader to join the program got the first trader account.

In the following year, the company launched its evaluation prop trading program which also gained success in the market as it had the leading profit splits.

Since then, the company has recorded significant growth expanding to more than 80 countries and trading with more than 12,000 traders worldwide.

All the traders have passed the evaluation stage and are currently trading with the live trader account.

The company fully launched its product automation and a new dashboard, which increased the market share.

It also enables their traders to instantly get their trader accounts.

Today, My Forex Funds emerges among the leading proprietary firms in the forex market.

Despite the significant growth, the company still aims to expand its business to offer more funded trading accounts for more interested traders.

For this reason, the company encourages traders who wish to benefit from their trading skills to join their platform and get funded in the live trading account.

How Do My Forex Funds Work?

My Forex Funds allow you to trade in the Forex market by offering three different funded trading programs.

You’ll have to choose the program that perfectly fits your experience level at the initial stage of joining it.

The programs include the following:

Rapid Program

The rapid program allows traders to earn bonuses from day one when trading in the prop firm.

You will qualify to earn a bonus from day one when trading CFDs and Forex.

This program requires you to have some background experience in trading for you to be able to withstand the risk management that comes with it.

In the rapid trading program, the account sizes available for traders range from $10,000 to $100,000.

They include the $10,000 account, $20,000 account, $50,000 account, and $100,000 account.

Their bonuses are however paid bi-weekly or after four weeks.

In this program, the main aim of the company is to gain three months of the capability of traders to trade and make profits when given live trading funds.

After joining it, you’ll receive your bonuses when being assessed, which means that the company rewards you for the time you spend trading.

In addition, this program has no time limit that allows you to trade at your own speed.

The Rapids Program Bonuses

My Forex Funds program rewards you with up to 12% of your trade profits as a bonus.

If you are trading on a CEA, you will get your payment on a bi-weekly basis, on the other hand, you will get your trading on NCA you will get your payment every month.

The bonuses can be paid through different payment methods including; cryptocurrency, bank transfer, and PayPal.

The Evaluation Program

In the evaluation program, the company targets to help nonprofessional traders build their trading experience and become expert traders.

It’s built for upcoming traders who want to show their talents in trading through the company’s capital.

In this program, you’ll be tested to prove your trading skills when given a live funded account.

The program consists of a phases process which when you pass, you will get the opportunity to trade with a live funded account.

In the two phases, you will be required to prove your skills in trading their CFD or commodities and Forex.

There are up to seven accounts to choose from in the platform ranging from $5,000 to $300,000.

The account sizes include the following;

$5,000, $10,000, $20,000, $50,000, $100,000, $200,000, and $300,000.

The first payout of the profit share is done after one month then the continuous payouts are done bi-weekly.

The company allows you to have up to $600,000 capital in your trading account, but the highest limit you can have is $300,000 for one trading account.

When you seriously display your trading skills you will get the opportunity to get the live funded account.

It can take you as little as 10 days to get to the live trading account and start making profits, as claimed by the platform.

To achieve this, the company requires you to be more consistent in your trading, maintain proper trading risk management, and be more accurate.

However, you have up to ninety days to prove your trading skills and become eligible for the live-funded account.

Evaluation Program Profit-Sharing

You will earn 75% of your profits in your first month of trading.

The profit share increases to 80% in your second month of trading where you will receive your payment bi-weekly.

Moving to the third month, your profit share increases further to 85% which is the maximum percentage you can get in the platform.

The Accelerated Program

The accelerated program is built to allow traders to trade with the live-funded account from day one.

This program is best suitable for more profitable and experienced traders to help them start earning profits from day one.

The program targets full-time traders who want to instantly boost their capital from their first day of trading and earn more profits.

In the accelerated program, there is no evaluation, and you start trading with a live account and get your rewards straight away.

According to My Forex Funds, you can start your accelerated program account with as little as $2,000 and earn up to two million dollars in capital.

This is made possible through their scaling program which aims at helping traders boot their capital to the maximum value.

Therefore, the accelerated program allows you to trade with a capital that ranges from $2,000 to $50,000.

The accounts include; $2,000, $5,000, $10,000, $20,000, and $50,000.

Accelerated Program Rewards

In the program rewards, you’ll earn 50% of all your profits from the account every week.

However, your account should be at least five days old to qualify for their weekly payouts.

When you request a payout, it’ll be processed within one to three days and deposited into your PayPal account, TransferWise, cryptocurrency, or bank transfer.

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What Are The Trading Rules Used In My Forex Funds?

The trading rules set in the platform depend on the trading program you choose in the prop firm.

Here are the rules for every program:

Rapid Program Trading Rules

In the rapid program, here are the trading rules you must follow:

• 5% Daily Drawdown

When trading in a rapid program, you must not go past a 5% drawdown which is based on your starting account balance.

This rule is set for a period of 24 hours and takes effect every 00:00 server time and must be respected every day you place your trade.

• 12% Overall Drawdown

In the overall drawdown rule, your trading account should not go down by 12% of your starting balance.

• Being more consistent

In their consistency rule, the program requires you to be more consistent in your trading.

However, the program also offers another option of a non-consistent account when you don’t like the consistent account.

• 3 Days/week

In the rule, you must enter at least a single trade in three days of every week.

For some reason, you cannot obey these three trading days week rules, The company requires you to inform them, via their email.

This will ensure that the platform does not negatively impact your account.

• No restrictions

There are no restrictions in this program allows you to trade any instruments available in the platform.

You are also free to trade any lot size at any time you wish and at your own speed.

• Payout Increase

In this trading rule, your payout will increase as you continue trading and growing with the company.

This also enables you also go simulated to a live funded account.

Evaluation Program Trading Rules

In the evaluation program, here are the trading rules for all the account sizes;

• 5% Daily Drawdown

In the program, you must obey the five percent daily drawdown rule which states that;

You should not go below 5% of your starting balance in your Forex trading account in one day.

This rule takes effect every day at 00:00 and is valid for 24 hours every day.

• 12% Overall Drawdown

In this rule, your trading account should not go below 12% of your starting balance.

• Profit targets rule

In the evaluation program, there are profit target rules for every phase as follows;

For phase one, the profit target is set at 8% which you must pass to qualify for phase two of the evaluation.

In addition, you have up to thirty days to meet this target without breaching any other rule to qualify for phase two.

Your trading time starts the day you open your first trade in the Forex trading account.

• Five Minimum Trading days.

In this rule, you must reach a minimum trading day of five days for you to move to the next stage.

This rule is set to show your ability to be more patient when trading on the platform.

It is also used to show your trading habits and enable the program to profile your trading skills and style.

• No Trading Restrictions

The prop firm does not limit you on how you can trade in the platform but recommends high consistency in your trading process.

You only need to be aware of the rules before you can begin trading.

The Accelerated Program Rules

When you choose to trade with the Accelerated program account, here are the trading rules you will be required to abide by:

• Profit targets

The program sets a profit target for you that enables you to move to the next milestone.

When you are trading on a Conventional account, your profit target is set at 10%.

On the other hand, when trading on the Emphatic account, your profit target is set at 20%.

• 5% or 10% overall Drawdown

In the accelerated program, there is no daily drawdown limit set for you as in the case of the rapid and evaluation programs.

However, there is an overall draw down which is set at 5% for the conventional accelerated account and 10% for the emphatic accelerated account.

The overall drawdown limit is based on your starting balance.

• Up to 1:100 Leverage

The program allows you to trade with a leverage of up to 1:100 on the emphatic accelerated account.

However, when using the conventional account, your leverage will be 1:50.

This leverage is effective for trading Metals, Forex, and CFDs.

• Scaling at every 20%

In this scaling opportunity, you will have your account scaled by 20%.

This scaling opportunity depends on the pay periods as you can only scale once every pay period.

The largest account in the program can be scaled for up to a maximum value of $2 million.

• No shares allowed

The platform does not allow trading in shares in the accelerated program.

The company restricts trading in shares due to the nature of the accounts available in the accelerated program.

• Weekly payouts

You’ll be eligible to get your weekly payout every week and can receive your first payment in your first week of trade.

What Is My Forex Funds Trusted Broker?

My Forex Funds uses Traders Global Group as their trusted broker.

So, when you choose to trade with the platform, you’ll have to use the Traders Global Group as your broker.

All the accounts available in the platform use the same broker including the demo and the live account.

In addition, the prop firm has its own dedicated server for trading as a strategy to ensure all its trading accounts are safe.

On the other hand, My Forex Funds offers two major trading platforms used in the forex market which are Metatrader4 and Metatrader5.

The prop firm is promising their traders to launch cTrader in the future but currently encourages them to use the available platforms.

What Trading Instruments Are Allowed In My Forex Funds?

My Forex Funds allow you to trade a variety of instruments including:

• Forex pairs
• Metals
• CFDs
• Cryptocurrencies

Steps for Joining My Forex Funds

To join My Forex Funds, you will have to follow the steps below:

Step One: Sign Up To The Platform

You will begin by signing up to enable you to become a member of their trading team.

Step Two: Choose Your Trading Program

After signing up to the platform, you will have to choose your preferred trading program based on your experience level.

The available programs including rapid, evaluation, and acceleration are all available for grabs.

Step Three: Choose Your Account Size

After choosing your trading program, you will narrow it down to the account size you want to start trading with.

Choose your account size which will depend on the purchase price as per what you have in your wallet.

Step Four: Make Payments

After choosing your preferred account size, make your payment to enable you to get access to your trading account.

Step Five: Start Trading

When your payment is received and processed, you will get your trading account, enabling you to start trading.

After which you can instantly start placing your first trade and start earning profits.

From there your trading sessions start and you will be able to get your profit shares based on the profits you make.

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What Are The Benefits Of Joining My Forex Funds?

Benefits Of Joining Rapid Program

• Earn as you learn

The rapid program earns as you learn before you become a professional trader.

You will qualify for this program whether you choose to work as a part-time or full-time trader.

• Enjoy a large product range

You will be able to trade all your favorite products when you choose the rapid program.

You can trade more than 100 instruments in this program and earn profits.

• Offers you both consistency and non-consistency accounts

This offer gives you the opportunity to choose between the consistency and non-consistency accounts that best suit you.

• No evaluation or profit targets

In the rapid program, you will not go through any profit targets or evaluations to qualify for your live trading account.

There are also no profit targets set for you at any stage of your trading.

Benefits Of Joining the Evaluation Program

• The program offers you up to 85% profit share.

The program offers you the best profit share in the forex market which enables you to earn more of the profits you make.

• You will trade with the trading with the lowest targets in the market.

The low targets include the 8% profit target in phase one and the 5% target in phase two.

• A low-cost, high-quality option

The programs offered on this platform are at a reasonable cost which makes it more affordable for many traders.

In addition, the prop firm offers high-quality services to make customers get the best of their trading experience.

• Free retakes and extensions

You will get free retakes and one free extension when you join this platform.

Your account will be entitled to two free extensions when your thirty-day trading period is reached.

This however applies if your account is in profits and you have not violated any rule in your trading journey.

• Offers a refund

You can get your fees back if you reach your first payout in the program.

Benefits Of Joining Accelerated Program

• No consistency rules

This enables you to trade once, twice, or the number of times you can so long as the trading works for you.

• No lot size limit

The program does not restrict your trading which allows you to trade at your preferred size. You will only have to observe consistency and risk management for you to be more profitable.

• No daily drawdown

There is no daily draw-down limit set for traders using the Accelerated program.

You only need to observe the overall drawdown limit.

• Enables you to scale up your account

The program allows you to scale up your account to a maximum balance of $2,000,000.

Also Read: FTUK Prop Firm Review

What Is The Cost Of Joining The My Forex Funds?

The cost of joining the prop firm also depends on the program you choose and the account size.

Here are the programs account sizes and their corresponding costs:

Rapid Program

In the rapid program, here are the account sizes and their prices:

• $10,000 account costs $99.
• $20,000 account costs $189.
• $50,000 account costs $399.
• $100,000 account costs $749.

Evaluation Program

In the evaluation program, here are the account sizes and their prices;

• $5,000 account costs $49
• $10,000 account costs $84.
• $20,000 account costs $139.
• $50,000 account costs $299.
• $100,000 account costs $499.
• $200,000 account costs $979.
• $300,000 account costs $1,389.

Accelerated Program

In the Accelerated Conventional program, here are the account sizes and their prices:

• $2,000 account costs $198.
• $5,000 account costs $490.
• $10,000 account costs $970.
• $20,000 account costs $1,940.
• $50,000 account costs $4,900.

In the Accelerated Emphatic program, here are the account sizes and their prices:

• $2,000 account costs $99.
• $5,000 account costs $245.
• $10,000 account costs $485.
• $20,000 account costs $970.
• $50,000 account costs $2,450

Related Review: SurgeTrader

Is My Forex Funds A Scam?

My Forex Fund prop firm is NOT a SCAM.

The program gives you an opportunity to achieve your financial freedom online.

In their funding programs, you can start earning from your day one of trade depending on the program you choose.

For instance, when you choose the rapid program, you will be eligible to earn up to 12% of your profits as you learn.

In the accelerated program, you’ll be eligible to boost your trading account balance from day one of your trade.

All these opportunities aim to help you achieve your financial goals by trading in the forex market.

However, you must have the required skills and experience to be able to benefit from trading in the platform.

In addition, you must obey the rules set in the platform and overcome the risk management to trade safely using your funded account.

This includes being consistent in your trades and maintaining high accuracy and profitability.

If you cannot withstand all the requirements, then you will not be able to succeed in the program.

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My Assessment Of My Forex Funds

Profits Split – 8/10

The prop firm has the best profit share which enables traders to earn up to 85% of their total profits.

This makes it one of the highest-paying prop firms in the forex market.

Scaling Opportunities – 7/10

In their accelerated program, My Forex Funds offers traders an opportunity to scale their accounts to a maximum balance of $2,000,000.

This scaling plan enables you to increase your account balance by 20% to make you reach your preferred balance.

Profits Targets – 8/10

My Forex Fund’s prop firm has realistic profit targets which are easy to reach and move to the next stage in their evaluation program.

The prop firm however does not set any profit target for traders in their rapid program and accelerated program.

Affordability – 8/10

The program is highly affordable with its price starting at as low as $49 to enable more traders to get an opportunity to trade in the forex market.

Trader Supports – 5/10

The prop firm also provides good customer support, enabling traders to interact with their support team through their official email.

Tradable Assets – 7/10

You can trade and earn various tradable assets on the platform.

They include forex pairs, metals, cryptocurrency, CFDs, etc.

Trustworthiness – 7/10

The program has a high trustworthiness with many testimonies of their payment proofs from their traders.

When you trade in the program to get profits, you’ll be able to get your profit share into your account when you make a payout request.

My Overall Rating: 7/10

My Forex Funds platform is one of the leading proprietary firms in the forex market with a high number of traders.

This makes it one of the highly rated prop firms as it offers a variety of opportunities for making money in the forex market.

What Are People Saying

Here are the reactions of different traders about this prop firm:

Trustpilot

My Forex Funds has an excellent rating of 4.8/5 in Trustpilot from a sample of 14,612 reviewers.

Facebook

My Forex Funds has an official Facebook page with more than 2,210 followers and 35,987 likes for their posts.

Overall

My Forex Fund’s prop firm has a positive reputation online with excellent reviews.

This makes it a great option for traders who want to realize their dreams to grab the opportunity to trade in the forex market.

FAQs About My Forex Funds

How Often Will I Get Paid in My Forex Funds?

The time you will receive your payment in the platform depends on the type of account you are using to trade.

When you are trading on a consistency-enabled account, the prop firm allows you to request your payments on a bi-weekly basis.

However, when trading on a non-consistency account, you will receive your payments after four weeks.

How Can I Start Earning With My Forex Funds?

There are two ways of earning in the platform that can enable you to start making money from day one.

The first opportunity is known as expertise earning (EE) where you have the potential to start earning on your first day.

The second option is the Funded Earning (FE) which enables you to start earning after you have started trading with your live account.

When Does My Evaluation Start In My Forex Funds?

When you join the platform, your evaluation begins the day you place your first trade.

If you want to extend your trade and start after a certain period of time let’s say 30 days, you must inform the company.

When you contact the company, you are requested to email the support team via account@myforexfunds.com and use your MetaTrader account number.

Thank you for reading My Forex Funds Review.