MyFundedFX tests their traders’ potential with a task of passing a one-step or two-step evaluation challenge, where they are given a demo account with virtual funds to trade, while they monitor their performance.
The challenge programs provided by MyFundedFX aim to provide traders with an opportunity to participate in trading endeavors without exposing their personal capital to risk. Proficient traders receive a portion of the profits they generate while utilizing MyFundedFX’s capital, sparing them from any accountability for incurred losses. With MyFundedFX, you have the liberty to trade according to your discretion. The brain behind MyFundedFX is Matthew Leech, a successful entrepreneur well-versed in financial and technological services. He brings his seasoned trading expertise across forex, options, stocks, and cryptocurrencies, actively engaging in trading since 2018.
MyFundedFX Company Information
You can learn more about MyFundedFX’s company details in the spreadsheet below.
| Company Information | MyFundedFX |
|---|---|
| Incorporation | June 2022 |
| Location | Texas, United States |
| CEO | Matthew Leech |
| Maximum Account Size | Normal Two-step Challenge: $300,000 Pro Two-step Challenge: $300,000 One-step Challenge: $300,000 |
| Trading Platform | MetaTrader 4, MetaTrader 5 |
| Broker | ThinkMarkets, Blueberry Markets |
Founded in June 2022, MyFundedFX is a proprietary trading firm with headquarters in Texas, United States, led by CEO Matthew Leech. They provide traders with an opportunity to participate in three distinct funding plans, offering account sizes of up to $300,000. Traders gain access to trading accounts through ThinkMarkets or Blueberry Markets, and they have the option to utilize MetaTrader 4 or MetaTrader 5 as their trading platform.
Funding Plans
MyFundedFX offers three distinct funding programs to traders worldwide.
Normal Two-step Challenge
| Account Sizes | One-time Fee |
|---|---|
| $5,000 | $50 |
| $10,000 | $100 |
| $25,000 | $200 |
| $50,000 | $300 |
| $100,000 | $500 |
| $200,000 | $950 |
| $300,000 | $1,399 |
| Trading Parameters | Parameter Values |
|---|---|
| Phase 1 Profit Target | 8% |
| Phase 2 Profit Target | 5% |
| Daily Drawdown | 5% (Scaleable To 8%) |
| Maximum Drawdown | 8% (Scaleable To 14%) |
| Leverage | 1:100 |
| Minimum Trading Day Requirements | No Minimum Trading Days |
| Maximum Trading Day Period | Phase 1: No Time Limitations Phase 2: No Time Limitations |
| Profit Split | 80% Up To 92.75% |
Normal Two-step Challenge Scaling Plan
Normal Two-step Challenge accounts have a consistency-based scaling plan. This means that you are required to reach a profit of 12% or more within a three-month period. By meeting all the objectives, MyFundedFX will increase your initial account balance by 25%.
Pro Two-step Challenge
| Account Sizes | One-time Fee |
|---|---|
| $5,000 | $70 |
| $10,000 | $135 |
| $25,000 | $250 |
| $50,000 | $375 |
| $100,000 | $575 |
| $200,000 | $1,100 |
| $300,000 | $1,600 |
| Trading Parameters | Parameter Values |
|---|---|
| Phase 1 Profit Target | 8% |
| Phase 2 Profit Target | 5% |
| Daily Drawdown | 5% (Scaleable To 8%) |
| Maximum Drawdown | 10% (Scaleable To 14%) |
| Leverage | 1:50 |
| Minimum Trading Day Requirements | No Minimum Trading Days |
| Maximum Trading Day Period | Phase 1: No Time Limitations Phase 2: No Time Limitations |
| Profit Split | 80% Up To 92.75% |
Top Two-step Challenge Scaling Plan
Top Two-step Challenge accounts have a consistency-based scaling plan. This means that you are required to reach a profit of 12% or more within a three-month period. By meeting all the objectives, MyFundedFX will increase your initial account balance by 25%.
One-step Challenge
| Account Sizes | One-time Fee |
|---|---|
| $5,000 | $50 |
| $10,000 | $100 |
| $25,000 | $200 |
| $50,000 | $300 |
| $100,000 | $500 |
| $200,000 | $950 |
| $300,000 | $1,399 |
| Trading Parameters | Parameter Values |
|---|---|
| Profit Target | 10% |
| Daily Drawdown | 4% (Scaleable To 6%) |
| Maximum Trailing Drawdown | 6% (Scaleable To 12%) |
| Leverage | 1:100 |
| Minimum Trading Day Requirements | No Minimum Trading Days |
| Maximum Trading Day Period | No Time Limitations |
| Profit Split | 80% Up To 92.75% |
One-step Challenge Scaling Plan
One-step Challenge accounts have a consistency-based scaling plan. This means that you are required to reach a profit of 12% or more within a three-month period. By meeting all the objectives, MyFundedFX will increase your initial account balance by 25%.
MyFundedFX Two-step Comparison
Two-step Comparison of MyFundedFX & E8 Funding (Normal)
| Trading Parameters | MyFundedFX (Normal) | MyFundedFX (Pro) | E8 Funding (Normal) |
|---|---|---|---|
| Phase 1 Profit Target | 8% | 8% | 8% |
| Phase 2 Profit Target | 5% | 5% | 5% |
| Daily Drawdown | 5% (Scaleable To 8%) | 5% (Scaleable To 8%) | 5% |
| Maximum Drawdown | 8% (Scaleable To 14%) | 10% (Scaleable To 14%) | 8% (Scaleable To 14%) |
| Leverage | 1:100 | 1:50 | 1:100 |
| Minimum Trading Day Requirements | No Minimum Trading Days | No Minimum Trading Days | No Minimum Trading Days |
| Maximum Trading Day Period | Phase 1: No Time Limitations Phase 2: No Time Limitations | Phase 1: No Time Limitations Phase 2: No Time Limitations | Phase 1: No Time Limitations Phase 2: No Time Limitations |
| Profit Split | 80% Up To 92.75% | 80% Up To 92.75% | 80% |
Two-step Comparison of MyFundedFX & FundedNext (Stellar)
| Trading Parameters | MyFundedFX (Normal) | MyFundedFX (Pro) | FundedNext (Stellar) |
|---|---|---|---|
| Phase 1 Profit Target | 8% | 8% | 8% |
| Phase 2 Profit Target | 5% | 5% | 5% |
| Daily Drawdown | 5% (Scaleable To 8%) | 5% (Scaleable To 8%) | 5% |
| Maximum Drawdown | 8% (Scaleable To 14%) | 10% (Scaleable To 14%) | 10% |
| Leverage | 1:100 | 1:50 | 1:100 |
| Minimum Trading Day Requirements | No Minimum Trading Days | No Minimum Trading Days | 5 Calendar Days |
| Maximum Trading Day Period | Phase 1: No Time Limitations Phase 2: No Time Limitations | Phase 1: No Time Limitations Phase 2: No Time Limitations | Phase 1: No Time Limitations Phase 2: No Time Limitations |
| Profit Split | 80% Up To 92.75% | 80% Up To 92.75% | 80% Up To 90% |
Community Trustpilot Feedback
MyFundedFX has an excellent rating on Trustpilot, where we can find numerous comments from their community. They have over 1,100 comments with an excellent rating of 4.7/5, where they are rated as five stars by 90% of all the individuals.
Conclusion
To conclude the review, we can clearly see that MyFundedFX is a reputable proprietary trading firm with various attractive features. They provide traders with the flexibility to choose between the following three funding programs: Normal Two-step, Pro Two-step, and One-step funding programs. When it comes to community feedback, they have an excellent Trustpilot rating of 4.7/5. After going through everything MyFundedFX has to offer, they can be considered a very attractive option within the proprietary trading firm industry.
MyFundedFX Review Details
