My Funded FX Review with Rankings 2024 By Dumb Little Man

Financial market traders typically get their hands on funds and trading equipment via a “proprietary trading firm“, also known as a prop firm. Among its rivals, My Funded FX is head and shoulders above the others. To help ambitious traders, the company provides the greatest evaluation services and live virtual accounts. Virtual funds up to $600,000 are available for traders to handle.

You will learn more about My Funded FX from this review article. The trading experts at Dumb Little Man and genuine consumer reviews provide the insights. We aim to present you with an honest and thorough review of My Funded FX’s services. By blending expert analysis with real-user experiences, this guarantees that readers receive a well-rounded perspective.

What is My Funded FX?

My Funded FX specializes in providing live simulated accounts, where traders can manage up to $600,000 in simulated capital. This firm is renowned for its comprehensive evaluation services, positioning itself as a leader in the trading industry.

My Funded FX’s simulated challenge program is its major feature. The goal of this program is to develop trading abilities without putting money at risk. Traders receive knowledge on how to qualify for demo accounts, which allow them to share in the simulated profits. Notably, the platform is quite appealing because profitable traders get to keep 80% of these gains and there’s no need for a growing plan.

My Funded FX provides inclusivity and versatility in terms of trading strategies. Any strategy, including swing trading, hedging, and scalping, is acceptable to traders. The guarantee of trading up to $600,000 in simulated funds accompanies this freedom. Because the company doesn’t have minimum or maximum trading days, traders can become eligible for a live simulated trading account in as little as two days.

Another noteworthy feature of the platform is its scaling plan, which provides a 25% rise in the initial simulated balance every three months as long as specific requirements are satisfied. Moreover, with 175+ assets including Forex, indices, cryptocurrencies, and commodities, traders at My Funded FX have access to a wide range of products.

There is a cost to enter the challenge, but this is repaid along with extra money based on performance if it is successfully completed. Thus, My Funded FX serves as a thorough and adaptable platform for traders who want to improve their abilities and maybe profit from simulated trading gains.

Pros and Cons of My Funded FX

Pros

• Offers up to $600,000 in simulated capital
• Provides comprehensive evaluation services
• Features diverse account options including 1-Step, 2-Step, and 3-Step challenges
• Flexible trading conditions

Cons

• Stringent evaluation criteria
• Limited direct contact options
• Inconsistent support on Discord
• Relies on FAQs for self-service resource

Safety and Security of My Funded FX

Users’ safety and security are a top priority for My Funded FX, as demonstrated by Dumb Little Man’s extensive study. The company is transparent about its business model, explicitly stating that it offers only simulated trading experiences. This suggests that traders don’t have to risk any of their own money when trading on demo accounts or in actual marketplaces.

The disclaimer is very explicit on My Funded FX, which is operated by Delaware-based MyFunded Solutions LLC. It states unequivocally that all services and material are provided only for educational and informative reasons. The company makes it clear that it does not engage in any type of financial instrument trading or provide investment advice. Moreover, My Funded FX’s data is designed to abide by jurisdictional laws, guaranteeing that no local laws are broken.

The business also deals with the difficulties and dangers that come with leveraged goods like FX trading and CFDs. It emphasizes that its platform is meant to serve as a risk-free setting where traders may hone their skills in simulated scenarios rather than for real trading or investing. This conscientious technique demonstrates My Funded FX’s dedication to user security and conformity with legal requirements.

My Funded FX Bonuses and Contests

My Funded FX currently does not offer bonuses or participate in trading contests. However, potential traders and interested parties are advised to stay vigilant. The firm may announce future incentives or competitions. Regular updates from My Funded FX can provide information on any new developments in this area.

My Funded FX Customer Reviews

My Funded FX has received mixed reviews from customers; it has a 4.6-star rating on Trustpilot. A few clients commend the prompt response team, citing instances where technical issues, like non-activation of take profits (TP) and stop losses (SL), were promptly and effectively fixed. We applaud the firm for promptly resolving broker-related difficulties.

Additionally, the benefits of customer service are highlighted, especially on platforms like Discord where agents like Dr. Pips promptly resolve issues like as wrong account types found throughout the challenge purchasing process. On the other hand, several critical reviews alert readers to possible scam tactics by claiming order front-running and disparities in SL triggers.

My Funded FX Commissions and Fees

For its trading operations, My Funded FX uses a simulated profit-sharing and commission structure. A lot of retail proprietary trading firms use this arrangement. It acts as payment for the resources and simulated forex trading capital that the company gives its traders.

My Funded FX offers a profit split in this configuration, where traders get paid 80% of the simulated profits they make from trading. This gives traders the opportunity to keep a sizable amount of their profits, rewarding success and skill improvement.

My Funded FX keeps its fee range fluctuating between $50 and $1399 in order to control costs. This pricing structure is intended to pay for the firm’s vast array of services and assistance, in addition to the provision of simulated trading money.

These tools, which are designed to improve the trader’s capacity to execute profitably in a range of market circumstances, include sophisticated trading platforms, market analytics, and instructional materials.

My Funded FX Account Types

My Funded FX provides three different account types for traders, each of which is the result of extensive research and testing by the Dumb Little Man team of professionals. Different trading techniques and preferences are accommodated by each type of account:

1-Step Challenge

• Unlimited trading period with a 10% profit target
• Maximum daily loss rule of 4% and maximum trading loss rules of 6%
• Minimum 1 trading day requirement
• Leverage available at 100:1
• Access to all trading instruments post-evaluation phase
• Funded account post-challenge with no profit targets, only maximum daily and trading loss rules
• Profit split of 80% after each 14-calendar-day trading period

2-Step Normal Challenge

• Funded trading with an 80% profit split after 14 calendar days.
• Maximum daily loss of 5% and maximum initial account balance loss of 8%.

• First Step (Trading Challenge):
  • Unlimited trading period with an 8% profit target
  • Minimum daily loss of 5% and maximum account balance loss of 8%
  • Minimum 1 trading day
  • Leverage is available at 100:1
• Second Step (Verification Trade):
  • Unlimited trading period with a 5% profit target
  • Same daily loss and account balance loss as the first step

2-Step Pro Challenge

• Funded trading with an 80% profit split of all simulated profits after 14 calendar days.
• No profit targets, subject to not exceeding the daily loss and maximum loss limits.

• First Step:
  • Unlimited trading period with a minimum 10% profit target
  • Maximum daily loss of 5% and maximum account balance loss of 10%
  • Minimum of 1 trading day
  • Leverage available at 50:1
• Second Step:
  • Unlimited trading period with a 5% profit target
  • Same daily loss and account balance loss as the first step

3-Step

• Step 1
  • Simulated gain target is 6%
  • Simulated gain trading period is Unlimited
  • Minimum of 1 Trading Day
  • Trailing Simulated Loss is 8%
  • Maximum simulated daily loss is 4% (balanced based)
• Step 2
  • Simulated gain target is 6%
  • Simulated gain trading period is Unlimited
  • Minimum of 1 Trading Day
  • Trailing Simulated Loss is 8%
  • Maximum simulated daily loss is 4% (balanced based)
• Step 3
  • Simulated gain target is 6%
  • Simulated gain trading period is Unlimited
  • Minimum of 1 Trading Day
  • Trailing Simulated Loss is 8%
  • Maximum simulated daily loss is 4% (balanced based)

Opening a My Funded FX Account

Opening a My Funded FX account is a straightforward process designed for traders’ convenience. Follow these eight simple steps to embark on your trading journey with one of the leading simulated trading platforms.

1. To begin the process of opening an account, click “Get Started”.
2. Make your choice from the various Challenge Types.
3. Select the account size that works best for your style of trading.
4. Select the trading platform you want to use, MT4 or MT5.
5. Select a broker; Blueberry or ThinkMarkets are your options.
6. Input your name, email address, phone number, and address for billing.
7. By accepting the terms and conditions, you can continue.
8. Before you begin trading, please confirm your order and, if appropriate, use a discount code.

My Funded FX Customer Support

My Funded FX offers a range of customer support services, ensuring traders have access to assistance when needed. Based on the experience of Dumb Little Man, the firm provides a live chat support feature for real-time help. Additionally, there’s a comprehensive FAQs section for quick answers to common questions, and a Discord channel for community support and direct communication.

Advantages and Disadvantages of My Funded FX Customer Support

My Funded FX Withdrawal Options

My Funded FX provides withdrawal options for traders to receive payouts based on their simulated trading performance. This information, verified through tests conducted by a trading professional at Dumb Little Man, highlights the firm’s withdrawal methods via Crypto and Riseworks.

For withdrawals through Riseworks, traders must navigate through a multi-step process. The first steps in submitting a request through the dashboard are selecting Riseworks as the withdrawal option, entering the desired amount, and entering an email address. After generating a passcode, traders must wait for team clearance and an email invitation from Riseworks in order to confirm their account and sign the Professional Service Agreement.

As My Funded FX makes explicit, payouts are contingent upon Riseworks account identification and the completion of all tasks listed in the Action Items section. The payment staff checks the account each day to confirm the status of the verification. Direct demands for invoices or payouts on Riseworks are absolutely forbidden and may result in penalties, such as the cancellation of the Demo Account for Simulated Prop Trading. The payout minimum is set at $65.

My Funded FX Challenges and Difficulties

My Funded FX imposes certain requirements for traders aiming to qualify for a simulated prop trading demo account. These include achieving profit targets, showcasing risk management abilities, maintaining consistent trading performance, and complying with specific firm conditions.

While the absence of a fixed time limit offers flexibility, it also demands a high level of dedication and skill from traders to meet these comprehensive evaluation standards.

The flexibility of having no set time limit is designed to benefit traders. My Funded FX believes that this approach allows traders to concentrate on honing their trading strategies and learning from their trading journey. This setup aims to enable traders to enhance their performance at their own pace, without the pressure of a ticking clock.

How to Pass My Funded FX Evaluation Process

Successfully passing the My Funded FX Evaluation Process demands a deep understanding of its rigorous standards. The journey, while challenging, can be made smoother by arming yourself with the correct strategies and knowledge.

Engaging in a comprehensive training program is a critical step in this preparation, equipping you with the necessary tools and insights to navigate and triumph over the evaluation hurdles.

Asia Forex Mentor – Rated Best Comprehensive Course Offering by Investopedia

Asia Forex Mentor stands out as a premier platform for traders aiming to succeed in the My Funded FX evaluation process. Recommended by trading experts at Dumb Little Man, this platform is especially suited for those committed to overcoming the My Funded FX challenge. Thousands of traders have already benefitted from its comprehensive training, tailored to pass proprietary firm evaluations.

More than just a course, Asia Forex Mentor was started by renowned forex trader Ezekiel Chew, who has over twenty years of expertise and makes substantial profits on each trade. Ezekiel, the leader of the Golden Eye Group and the creator of the One Core Program founded Asia Forex Mentor to share his wealth of knowledge and trading strategies.

His journey as a mentor began simply, with lessons for close friends, and progressively expanded into an in-demand online course. Based on Ezekiel’s experience and the success stories of his mentees, traders who want to succeed in the My Funded FX assessment process will find that Asia Forex Mentor is an extremely useful and reliable resource.

How Could Asia Forex Mentor Help You Pass My Funded FX Challenge?

Asia Forex Mentor has established itself as a pivotal resource for traders aiming to pass the My Funded FX’s Challenge. The platform’s credibility is underscored by numerous accolades from reputable financial sources:

The Best Comprehensive Course Offering Award is provided by Asia Forex Mentor’s One Core Program, according to Investopedia, a trustworthy source of financial information. The curriculum was able to acquire the title of Best Comprehensive Course Offering because of its thorough coverage and in-depth study of FX.

A reputable source for stock market, financial, and business information The Asia Forex Mentor One Core Program was recognized the Best Forex Trading Course for novices by Benzinga. In particular, the application’s capacity to support both inexperienced and seasoned traders was emphasized.

Asia Forex Mentor was recognized by BestOnlineForexBroker as the Best Forex Mentor in 2021 because to the substantial trading gains that users may get by utilizing the tactics and guidance offered.

Reviews from respectable forex traders and platforms, who give Asia Forex Mentor credit for its outstanding trading tactics and systems for taking home the title of Best Forex Trading Course, further strengthen the program’s reputation.

These accolades affirm that Asia Forex Mentor, through its One Core Program, consistently exceeds expectations, equipping both new and advanced traders with the skills to excel in the My Funded FX’s Challenge.

Asia Forex Mentor Members’ Testimonials

Participants in Asia Forex Mentor’s One Core Program are credited with their success in prop firms evaluations and trading breakthroughs because to the thorough coaching they got. Under the exceptional mentorship of Ezekiel Chew, they progressed from being mediocre traders to consistently profitable ones by learning critical skills like chart analysis and trade timing.

Because of its simple and practical tactics, the product is highly recommended and a must-have for anyone hoping to achieve both financial freedom and success in forex trading.

>> Also Read: Asia Forex Mentor Review By Dumb Little Man

Conclusion: My Funded FX Review

In conclusion, the trading experts at My Funded FX recognize the advantages of the platform, especially the wide range of account options and stringent evaluation standards that support trading strategically. The website provides traders with a great chance to hone their skills without risking any money thanks to its simulated trading environment. But it’s critical to recognize the difficulties, which include the requirement for a high degree of commitment and mastery of intricate trading techniques.

Traders who are dedicated to their success can greatly increase their chances of passing the My Funded FX Evaluation Process by enrolling in premium courses like Asia Forex Mentor. Because of its thorough approach to trading teaching, Asia Forex Mentor is an excellent resource for people who wish to confidently and competently handle the challenges of prop trading firm.

>> Also Read: Ment Funding Review with Rankings 2024 By Dumb Little Man

My Funded FX Review FAQs

Is My Funded FX a trustworthy platform for simulated trading?

Yes, according to more My Funded FX reviews, traders can hone their abilities without jeopardizing personal assets thanks to My Funded FX’s secure, simulated trading environment.

Who is behind the operations of My Funded FX?

Although precise ownership details are kept confidential, a crew committed to providing thorough trade review services oversees My Funded FX.

In which country is My Funded FX officially registered?

My Funded FX is formally registered in Delaware and does its business there, guaranteeing adherence to all applicable laws and rules.