![]() ![]() ![]() The best thing is that you don’t have any profit targets! However, 12% of what you make on the demo account will be paid into a live account for you. Leverage ranges from 1:50-1:500 and you must trade at least 3 times per week. You have very relaxed rules on these accounts, for instance a maximum daily drawdown of 5%, with a total maximum drawdown of 12%. With a rapid account, you will pay a one time, refundable fee (depending on if you are profitable or not), which allows you to trade a demo account for the company. The rapid account option is for traders that are either just reaching consistency, or haven’t been in the markets for too long. Throwing a new forex trader in with a $100,000 live account and very strict rules is quickly going to end in disaster, so breaking down the different categories depending on experience seems like a really nice idea and that makes MyForexFunds quite unique from other forex prop firms. Getting Funding From MyForexFundsĪs mentioned previously, they are offering 3 different types of account depending on your experience levels, which is great. This is a big relieve for me and many other traders, I’m sure, as Crypto is a bit of a hassle when you’re dealing with company accounts. I have now started taking withdrawals directly to my bank, instead of using Cryptocurrency wallets. From the actual time of processing, to arriving in my cryptocurrency wallet was about 30-45 minutes. This stage has been taking on average 2 days for me in the last few months. In terms of the bitcoin withdrawals, it seemed to work within 2 stages… I contacted the support team for assistance and they were extremely helpful. I have now had 4 withdrawals from MyForexFunds, all of which were paid on time and in full. I opted for the crypto withdrawal and they paid me my profits the same day – I’m very impressed with how quickly the payment actually arrived. Luckily, MyForexFunds are consistently paying my withdrawals! I contact the live support team at the end of the month to request a withdrawal.Īt the time of my latest withdrawal, they mentioned that they usual payment processor was having a few delays but I could either wait 3-5 days, or take a crypto withdrawal instantly if I wanted. Without payment proof from other traders, even with good reviews it can be hard to trust a company that seems too good to be true. Whenever I am looking at prop firms and brokers, I really like to see payment proof. If you’re looking to grow a large trading account and potentially pull large profits out of the markets, this could be the company for you… Let’s find out more about the pros and cons and how MyForexFunds is rapidly taking over the prop firm industry, with thousands of funded traders around the world… Payment Proof – My Withdrawal From MyForexFunds Unlike a lot of companies offering to fund forex traders, they have 3 different levels or structures, depending on your experience as a trader, ranging from brand new to full time traders! The firm is rapidly becoming a director competitor of some of the largest and more established companies, due to the great reputation and very similar trading conditions offered.Īs I keep updating this article every few weeks, it’s becoming clear that this was the fastest growing prop firm in 2022 and is still holding strong in 2023! As of 2022, they had a small brand and have now funded over 40,000 traders with forex trading capital. MyForexFunds are a fairly new player on the scene, founded just a year ago in July 2020. ![]()
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