My Funded FX Review

MyFundedFX offers traders five distinct challenge programs, providing the opportunity to trade without risking their own capital. Profitable traders receive a payout based on a percentage of the profits they generate, while the firm absorbs all losses, ensuring traders have no liability for the firm’s capital

Pros +

+ Excellent Trustpilot rating of 4.4/5
+ Five Unique Funding Programs
+ Professional Trader Dashboard
+ A Large Variety of Trading Instruments (Forex Pairs, Commodities, Indices, Cryptocurrencies)
+ Leverage up to 1:100
+ No Minimum & Maximum Trading Day Requirements
+ Scaling Plan
+ Maximum Daily Drawdown Scaling Feature
+ Maximum Drawdown Scaling Feature
+ First Payout After 7 or 14 Days (Depending on Challenge)
+ Bi-weekly or Weekly Payouts (Depending on Challenge)
+ Profit Share of 80% up to 92.75%
+ Overnight & Weekend Holding Allowed
+ Balance-based Drawdown

Cons -

– Expensive Funding Program Prices
– Low Initial Maximum Drawdown of 8% on Two-step Challenge
– Trailing Drawdown on One-step Challenge

MyFundedFX offers challenge programs that allow traders to engage in trading without risking their personal capital. Successful traders are rewarded with payments based on their profits, managing account sizes up to $300,000, and receiving up to 92.75% profit splits. These programs enable trading across various financial instruments, including forex pairs, commodities, indices, and cryptocurrencies, providing ample opportunities for substantial profits.

Who are My Funded FX?

MyFundedFX, legally known as MyFunded Solutions, LLC, is a proprietary trading firm incorporated in June 2022. Located in Dallas, Texas, and managed by CEO Matthew Leech, MyFundedFX offers traders five different account types: two two-step evaluations, two one-step evaluations, and a three-step evaluation. The firm partners with ThinkMarkets and Purple Trading Seychelles as their brokers.

MyFundedFX’s headquarters are at 100 Crescent Court, Suite 700, Dallas, TX 75201, United States.

Who is the CEO?

Matthew Leech, the founder and CEO of MyFundedFX, is a successful entrepreneur in the financial and tech services sectors and an experienced trader in forex, options, stocks, and cryptocurrencies. Actively involved in trading since 2018, Matt launched MyFundedFX to address a gap in the industry, where proprietary trading firms often neglect the needs of individual traders. Under his leadership, MyFundedFX focuses on educating traders and helping them secure funding. Matt and his team are dedicated to building the foundational skills required for traders to become funded and succeed in their trading careers.

Funding program options

My Funded FX provides its traders with five unique funding program.

My Funded FX Funding Programs

Two-step Challenge

Account Sizes

– $5,000 – $50
– $10,000 – $100
– $25,000 – $200
– $50,000 – $300
– $100,000 – $500
– $200,000 – $950
– $300,000 – $1,399

MyFundedFX’s Two-step Challenge offers traders the opportunity to manage account sizes ranging from $5,000 to $300,000. This challenge aims to identify talented, profitable traders who can effectively manage risk during the two-step evaluation period. The Two-step Challenge allows traders to trade with leverage up to 1:100.

In Evaluation Phase One, traders must achieve an 8% profit target without exceeding a 5% maximum daily loss or an 8% maximum overall loss. There are no minimum or maximum trading day requirements; the only requirement is to reach the 8% profit target while adhering to the loss limits.

In Evaluation Phase Two, traders need to reach a 5% profit target while adhering to the same loss limits: 5% maximum daily loss and 8% maximum overall loss. Similar to Phase One, there are no minimum or maximum trading day requirements; the only requirement is to reach the 5% profit target while following the loss limits.

Upon completing both evaluation phases, traders receive a funded account with no minimum withdrawal requirements, provided they respect the 5% maximum daily loss and 8% maximum overall loss rules. The first payout can be requested 14 calendar days after placing the first position on the funded account, with subsequent withdrawals available bi-weekly. Traders enjoy a profit split ranging from 80% to 92.75% based on the profits generated on their funded accounts.

Two-step Challenge Scaling Plan

The Two-step Challenge also includes a scaling plan. If a trader maintains profitability over three months with an average return of 12%, they become eligible for a 25% increase in their initial account size.

Example:
– After 3 Months: A $100,000 account increases to $125,000.
– After the Next 3 Months: A $125,000 account increases to $150,000.
– After the Next 3 Months: A $150,000 account increases to $175,000.

And so on…

Two-step Challenge Trading Rules & Objectives

– Profit Target: Traders must achieve a designated profit percentage to successfully complete an evaluation phase, withdraw earnings, or scale their trading account. The profit target is 8% for Phase 1 and 5% for Phase 2. Funded accounts do not have specified profit targets.

– Maximum Daily Loss: Traders are allowed a maximum daily loss of 5% without breaching the account. This limit can be scaled up to 8%.

– Maximum Loss: Traders are allowed a maximum overall loss of 8% without breaching the account. This limit can be scaled up to 14%.

– No News Trading: Trading is prohibited during high-impact news releases. Traders cannot execute new trades or close existing trades on the specified instrument within 3 minutes before and after the announcement of particular news. This rule applies only to funded accounts.

Two-step Max Challenge

Account Sizes

– $5,000 – $38
– $10,000 – $75
– $25,000 – $140
– $50,000 – $210
– $100,000 – $425
– $200,000 – $725

MyFundedFX’s Two-step Max Challenge offers traders the opportunity to manage account sizes ranging from $5,000 to $200,000. This challenge aims to identify skilled, profitable traders who can efficiently manage risk throughout the two-step evaluation period. The Two-step Max Challenge allows trading with up to 1:50 leverage in Phase One and 1:30 leverage in Phase Two and once funded.

In Evaluation Phase One of the Two-step Max Challenge, traders must achieve a 10% profit target without exceeding a 5% maximum daily loss or a 10% maximum overall loss. There are no minimum or maximum trading day requirements; the only requirement is to reach the 10% profit target while adhering to the loss limits.

In Evaluation Phase Two, traders need to reach a 5% profit target while adhering to a 4% maximum daily loss and an 8% maximum overall loss. Similar to Phase One, there are no minimum or maximum trading day requirements; the only requirement is to reach the 5% profit target while following the loss limits.

Upon completing both evaluation phases, traders receive a funded account with no minimum withdrawal requirements, provided they respect the 4% maximum daily loss and 8% maximum overall loss rules. The first payout can be requested 14 calendar days after placing the first position on the funded account, with subsequent withdrawals available bi-weekly. Traders enjoy a profit split ranging from 80% to 92.75% based on the profits generated on their funded accounts.

Two-step Max Challenge Scaling Plan

The Two-step Max Challenge also features a scaling plan. If a trader maintains profitability over the last three months with an average return of 12%, they become eligible for an account size increase equal to 25% of the initial account size.

Example:

– After 3 Months: A qualified $100,000 account increases to $125,000.

– After the Next 3 Months: A qualified $125,000 account increases to $150,000.

– After the Next 3 Months: A qualified $150,000 account increases to $175,000.

– And so on…

Two-step Max Challenge Trading Rules & Objectives

– Profit Target: Traders must achieve a designated profit percentage to successfully complete an evaluation phase, withdraw earnings, or scale their trading account. The profit target is 10% for Phase 1 and 5% for Phase 2. Funded accounts do not have specified profit targets.

– Maximum Daily Loss: Traders are allowed a maximum daily loss of 5% in Phase 1 and 4% in Phase 2 and once funded, without breaching the account. This limit can be scaled up to 8%.

– Maximum Loss: Traders are allowed a maximum overall loss of 10% in Phase 1 and 8% in Phase 2 and once funded, without breaching the account. This limit can be scaled up to 14%.

One-step Challenge

Account Sizes

– $5,000 – $50
– $10,000 – $100
– $25,000 – $200
– $50,000 – $300
– $100,000 – $500
– $200,000 – $950
– $300,000 – $1,399

MyFundedFX’s One-step Challenge offers traders the opportunity to manage account sizes ranging from $5,000 to $300,000. This challenge aims to identify disciplined, profitable traders who can effectively manage risk within a single evaluation period. The One-step Challenge allows trading with leverage up to 1:100.

The evaluation phase of MyFundedFX’s One-step Challenge requires traders to achieve a profit target of 10% without exceeding a 4% maximum daily loss or a 6% maximum trailing loss. During phase one, there are no minimum or maximum trading day requirements; the focus is solely on reaching the profit target while adhering to the loss limits.

Upon successfully completing the evaluation phase, traders receive a funded account with no minimum withdrawal requirements. Traders must adhere to the 4% maximum daily loss and 6% maximum trailing loss rules while trading on their funded account. The first payout can be requested 14 calendar days after placing the first position on the funded account, with subsequent withdrawals available bi-weekly. Traders receive a profit split ranging from 80% to 92.75% based on the profits generated on their funded account.

One-step Challenge Scaling Plan

The One-step Challenge at MyFundedFX includes a scaling plan. If a trader maintains profitability over the last three months with an average return of 12%, they become eligible for an account size increase equal to 25% of the initial account size.

Example:

– After 3 Months: A qualified $100,000 account increases to $125,000.

– After the Next 3 Months: A qualified $125,000 account increases to $150,000.

– After the Next 3 Months: A qualified $150,000 account increases to $175,000.

– And so on…

One-step Challenge Trading Rules & Objectives

– Profit Target: Traders must achieve a designated profit percentage to successfully complete the evaluation phase, withdraw earnings, or scale their trading account. The profit target for the evaluation phase is 10%. Funded accounts do not have specified profit targets.

– Maximum Daily Loss: Traders are allowed a maximum daily loss of 4% without breaching the account. This limit can be scaled up to 6%.

– Maximum Trailing Loss: The difference between the highest achieved account balance and the lowest point of drawdown determines the maximum trailing loss a trader is allowed to incur without breaching the account. All account sizes have a maximum trailing loss of 6%, scalable up to 12%.

One-step Max Challenge

Account Sizes

– $5,000 – $42
– $10,000 – $80
– $25,000 – $170
– $50,000 – $240
– $100,000 – $399
– $200,000 – $799

The evaluation phase of MyFundedFX requires traders to achieve a profit target of 8% without exceeding a 2% maximum daily loss (considered a soft breach) or an 8% maximum overall loss. During phase one, there are no minimum or maximum trading day requirements, but there is a maximum daily gain limitation of 2%. To proceed to funded status, traders need only reach the 8% profit target while adhering to the maximum loss limit rules.

Upon successfully completing the evaluation phase, traders receive a funded account with no minimum withdrawal requirements. Traders must adhere to the 4% maximum daily loss and 8% maximum loss rules, as well as the maximum daily gain limitation of 2%. The first payout can be requested 7 calendar days after placing the first position on the funded account, with subsequent withdrawals available weekly. Traders receive a profit split of 80% based on the profits generated on their funded account.

One-step Max Challenge Scaling Plan

The One-step Max Challenge at MyFundedFX includes a scaling plan where traders can increase their account size based on profitability over three-month periods. If a trader maintains profitability with an average return of 12% over the last three months, they become eligible for an account size increase equal to 25% of the initial account size.

Example:

– After 3 Months: A qualified $100,000 account increases to $125,000.
– After the Next 3 Months: A qualified $125,000 account increases to $150,000.
– After the Next 3 Months: A qualified $150,000 account increases to $175,000.
– And so on…

One-step Max Challenge Trading Rules & Objectives

– Profit Target: Traders must achieve a designated profit percentage to successfully complete the evaluation phase, withdraw earnings, or scale their trading account. The profit target for the evaluation phase is 8%. Funded accounts do not have specified profit targets.

– Maximum Daily Loss: Traders are allowed a maximum daily loss of 2%, which is considered a Soft Breach. This means that if this limit is hit, the trader can continue trading on the next trading day. This rule applies to all account sizes.

– Maximum Loss: The maximum overall loss limit for traders without breaching the account is 8%. This rule applies to all account sizes.

Three-step Challenge

Account Sizes

– $10,000 – $70
– $25,000 – $150
– $50,000 – $225
– $100,000 – $375
– $200,000 – $570
– $300,000 – $900

MyFundedFX’s Three-step Challenge offers traders the opportunity to manage account sizes ranging from $10,000 to $300,000. This challenge is designed to identify talented traders who demonstrate profitability and effective risk management across a comprehensive three-step evaluation period. Traders participating in the Three-step Challenge are allowed to trade with leverage up to 1:50.

MyFundedFX’s Three-step Challenge Evaluation Details

Evaluation Phase 1:
– Profit Target: Traders must achieve a profit target of 6%.
– Maximum Daily Loss: Traders are allowed a maximum daily loss of 4%.
– Maximum Loss: The overall maximum loss limit is 8%.
– Time Limitations: There are no minimum or maximum trading day requirements.
– Completion Requirement: To proceed to phase two, traders must achieve the 6% profit target without exceeding the maximum daily or maximum loss limits.

Evaluation Phase 2:
– Profit Target: Traders must achieve a profit target of 6%.
– Maximum Daily Loss: Traders are allowed a maximum daily loss of 4%.
– Maximum Loss: The overall maximum loss limit remains at 8%.
– Time Limitations: Similar to phase one, there are no minimum or maximum trading day requirements.
– Completion Requirement: To proceed to phase three, traders must achieve the 6% profit target while adhering to the maximum daily and maximum loss limits.

Evaluation Phase 3:
– Profit Target: Traders must achieve a profit target of 6%.
– Maximum Daily Loss: Traders are allowed a maximum daily loss of 4%.
– Maximum Loss: The overall maximum loss limit remains at 8%.
– Time Limitations: There are no minimum or maximum trading day requirements.
– Completion Requirement: To attain funded status, traders must achieve the 6% profit target without breaching the maximum daily or maximum loss limits.

Funded Account Details:
– Traders who successfully complete all three evaluation phases are awarded a funded account.
– Withdrawal Requirements: There are no minimum withdrawal requirements.
– Risk Management: Traders must adhere to a 4% maximum daily loss and an 8% maximum loss rule while trading on the funded account.
– Payout Schedule: The first payout is available 14 calendar days after the first position is placed on the funded account. Subsequent withdrawals can be made bi-weekly.
– Profit Split: Traders receive a profit split of 80% based on the profits generated on their funded account.

Three-step Challenge Scaling Plan

The Three-step Challenge at MyFundedFX includes a scaling plan where traders can increase their account size based on profitability over consecutive three-month periods. If a trader maintains profitability with an average return of 12% over the last three months, they become eligible for an account size increase equal to 25% of the initial account size.

Example:

– After 3 Months: A qualified $100,000 account increases to $125,000.

– After the Next 3 Months: The account further increases from $125,000 to $150,000.

– After the Next 3 Months: The account continues to grow to $175,000.

– And so on…

This scaling plan incentivizes consistent profitability and allows traders to progressively manage larger account sizes as they demonstrate their trading skills and profitability over time.

Three-step Challenge Trading Rules & Objectives

Here are the trading rules and objectives for MyFundedFX’s Three-step Challenge:

Profit Target:
– Traders must achieve a designated profit percentage of 6% to successfully conclude each evaluation phase, withdraw earnings, or scale their trading account.
– The profit target remains consistent at 6% across all three evaluation phases.
– Funded accounts do not have any specified profit targets beyond the evaluation phases.

Maximum Daily Loss:
– The maximum loss limit a trader is allowed to incur in a single trading day without breaching the account is 4% for all account sizes.

Maximum Loss:
– The maximum cumulative loss a trader can sustain without breaching the account is 8% for all account sizes.

No News Trading:
– Trading during high-impact news releases is prohibited on funded accounts.
– This restriction includes executing new trades or closing existing trades on specified instruments within the 3-minute period before and after the announcement of significant news events.

These rules and objectives are designed to promote disciplined trading practices, risk management, and adherence to market conditions during sensitive news periods, ensuring traders operate within specified limits to maintain account integrity and eligibility for account scaling and profit withdrawals.

Proof of Payment

MyFundedFX is a proprietary trading firm that was incorporated in June 2022. They have a large community of traders who have reached funded status and successfully qualify for a profit split.

While working with MyFundedFX and reaching funded status with the Two-step Challenge, Two-step Max Challenge, One-step Challenge, or Three-step Challenge, you will be eligible to receive your first payout after 14 calendar days. After the first payout, you will be eligible to receive payouts every 14 calendar days if you exceed your initial account size. Your profit split will range from 80% up to 92.75% based on the profit you have generated on your funded account.

However, when working with MyFundedFX and reaching funded status with the One-step Max Challenge, you will be eligible to receive your first payout after only 7 calendar days. Subsequent payouts will be available every 7 calendar days if you exceed the initial account size. Your profit split for the One-step Max Challenge will be a generous 80% based on the profit you have generated on your funded account.

For MyFundedFX payment proof, you can find testimonials and reviews on various websites, including Trustpilot, where traders share their experiences and the process of receiving payouts. Additional sources of payment proof include MyFundedFX’s Discord and YouTube channels, where you can find numerous payout certificates and interviews with the most successful traders.

Examples of Payout Certificates and Payment Proof can be seen in the images below. (These payments are not ours!)

Conclusion

In conclusion, MyFundedFX is a reputable and trustworthy proprietary trading firm providing traders with an opportunity to choose between five funding programs: the Two-step Challenge and Two-step Max Challenge, which are two-step evaluations, the One-step Challenge and One-step Max Challenge, which are one-step evaluations, and the Three-step Challenge, which is a three-step evaluation.

MyFundedFX’s Two-step Challenge is an industry-standard two-step evaluation that requires the completion of two phases before becoming eligible to manage a funded account and earn 80% up to 92.75% profit splits. Traders must reach profit targets of 8% in phase one and 5% in phase two to become successfully funded. These are realistic trading objectives, considering you have a 5% maximum daily and 8% maximum loss rules to follow. Regarding time limitations, you have no minimum or maximum trading day requirements during both evaluation phases, meaning that you can trade at your preferred pace without any time pressure. Finally, it’s essential to note that the Two-step Challenge features a scaling plan, providing you with the opportunity to increase your initial account balance.

MyFundedFX’s Two-step Max Challenge is an industry-standard two-step evaluation that requires the completion of two phases before becoming eligible to manage a funded account and earn 80% up to 92.75% profit splits. Traders must reach profit targets of 10% in phase one and 5% in phase two to become successfully funded. These are realistic trading objectives, considering you have a 5% maximum daily and 10% maximum loss rules to follow in phase one and a 4% maximum daily and 8% maximum loss rules to follow in phase two and once funded. Regarding time limitations, you have no minimum or maximum trading day requirements during both evaluation phases, meaning that you can trade at your preferred pace without any time pressure. Finally, it’s essential to note that the Two-step Max Challenge features a scaling plan, providing you with the opportunity to increase your initial account balance.

MyFundedFX’s One-step Challenge is a one-step evaluation that requires the completion of a single phase before becoming eligible to manage a funded account and earn 80% up to 92.75% profit splits. Traders must reach a profit target of 10% to become successfully funded. These are realistic trading objectives, considering you have a 4% maximum daily and 6% maximum trailing loss rules to follow. Regarding time limitations, you have no minimum or maximum trading day requirements, meaning that you can trade at your preferred pace without any time pressure. Finally, it’s essential to note that the One-step Challenge features a scaling plan, providing you with the opportunity to increase your initial account balance.

MyFundedFX’s One-step Max Challenge is a one-step evaluation that requires the completion of a single phase before becoming eligible to manage a funded account and earn 80% profit splits. Traders must reach a profit target of 8% to become successfully funded. These are realistic trading objectives, considering you have a 2% maximum daily (soft breach) and 8% maximum loss rules to follow. Regarding time limitations, you have no minimum or maximum trading day requirements during the evaluation phase. However, you have a maximum daily gain limitation of 2%. Finally, it’s essential to note that the One-step Max Challenge features a scaling plan, providing you with the opportunity to increase your initial account balance.

MyFundedFX’s Three-step Challenge is a three-step evaluation that requires the completion of three phases before becoming eligible to manage a funded account and earn 80% profit splits. Traders must reach a 6% profit target in each evaluation phase to become successfully funded. These are realistic trading objectives, considering you have a 4% maximum daily and 8% maximum loss rules to follow. Regarding time limitations, you have no minimum or maximum trading day requirements during all three evaluation phases, meaning that you can trade at your preferred pace without any time pressure. Finally, it’s essential to note that the Three-step Challenge features a scaling plan, providing you with the opportunity to increase your initial account balance.

I would recommend MyFundedFX to individuals seeking a reputable proprietary trading firm that provides exceptional trading conditions catering to a diverse range of individuals with unique trading styles. They provide traders with special features, such as drawdown scaling, an unlimited trading period, no minimum trading day requirements, first withdrawal after only 7 or 14 calendar days, and weekly or bi-weekly future payouts, depending on the challenge. Considering everything MyFundedFX has to offer to traders worldwide, they can undoubtedly be regarded as one of the industry-leading prop firms.

Alpha Capital Group Details

Trading Platforms

DXtrade, Match-trader

Deposit Methods

Visa, Crypto, Bank Transfer, Pay-Pal

Withdrawal Methods

Bank Transfer, Crypto, Rise

Account Size

$10.000, $25.000, $50.000, $100.000, $200.000, $300.000, $5.000

Tradable Instruments

Commodities, Forex, Indices, Crypto, Metals

Rules

Maximum trailing drawdown, No News Trading, Maximum Daily Loss, Maximum Loss, Minimum Trading Days, Profit Target

Brokers

Purple Trading Seychelles, Quality FX Ltd, Zenfinex

Account Currencies

USD

Trading Programs

One Step Challenge, Two Step Challenge, Three Step Challenge

Incorporation

June 2022

CEO

Matthew Leech

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