MyForexFunds is a new prop company that provides funding for traders. Founded in July 2020, the company already has funded around 40,000 traders from across the globe. They offer three funding models, one of which is the massive scaling plan, which allows you to receive $1,350,000 of capital within a single day. Those who are interested in this program can find out more at myforexfunds.com.
MyForexFunds's evaluation account is free and requires a profit target of 8% in phase one and 5% in phase two. The evaluation account is designed for new and experienced traders, and it has no fees. The one-time registration fee is a low price to start a profitable trading career. As long as you follow the rules of the program, you will be able to make a profit in no time.
As far as the payout plan is concerned, it's quite similar between MyForexFunds and FTMO. However, MyForexFunds requires a one-time payment to activate their emphatic account. With this account, you'll have access to double the leverage of the conventional tier, and you can scale up and down at the same time. The disadvantages are that you'll have to pay for more leverage than you'd like to. But the upside is that both funds offer high profit spreads, and a wide range of platforms.
The disadvantages of Myforexfunds are that they require an upfront fee to access the trading programs. As a result, this firm has a bad reputation for being a scam. The only real downside to MyForexFunds is that it's not entirely free. While it promises free money, it actually charges you a one-time fee to use their services. This is the same as with any other trading firm.
MyForexFunds is among the most popular prop firms. Its accelerated accounts allow you to get funded right away without performing any performance-based challenges. They also offer an accelerated account with no profit target, which is an excellent advantage for traders who don't have much experience trading. So, you can get your trading account funded within a day. If you're new to forex, MyForexFunds is not the right place for you. This is a scam, and I don't recommend you use it.
There are no fees associated with accelerated accounts. As a result, they are the fastest way to get started in the forex market. MyForexFunds' accelerated accounts are also the least expensive. They are available in different sizes and types. For example, you can choose the size of your account from $2000 to $50,000. The size of your account depends on your level of experience. For this reason, MyForexFunds recommends that you choose the accelerated accounts over the challenge course.
MyForexFunds has been in the prop industry for only a year. That means that they are a safe and reliable broker. Their number of reviews is huge. When we first reviewed them, they had only 20 reviews on Trustpilot. Now, they have more than 1200 reviews on Trustpilot. Moreover, they have an excellent rating with 4.7 stars. The platform has a high reputation for providing quality service.
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