- Over 12,000 Trustpilot reviews with a 4.9/5 rating
- Funded accounts from $2,000 to $50,000; three account types
- First payout includes initial fees plus an extra 12%
- Bonuses during evaluation; profit sharing up to 90%
- Competitive commissions; leverage from 1:50 to 1:500
- No time limits on Evaluation Program.
Super Funded
- Real accounts with allocation capital up to $600,000.
- Generous 90% profit split.
- Flexible trading: news, weekends, and overnight.
- No minimum trading days.
- Simplified one-step evaluation.
Cons ❌
My Forex Funds
- Delayed response time on Livechat support due to queue
- Instances of slippage issues
Super Funded
- Lack of community feedback
- Lack of payment proof
- Consistency rule
- Low leverage 1:30, 1:20, and 1:2
Rules 📋
My Forex Funds
Consistency Rule, Maximum Daily Loss, Maximum Loss, Maximum Trading Days, Minimum Trading Days, No EAs Allowed, No Weekend Holding, Profit Target
Super Funded
Consistency Rule, Maximum Daily Loss, Maximum Loss, Maximum Trading Days, No Copy Trading Allowed, Profit Target, Third Party EA Risk
My Forex Funds has rapidly established itself as a heavyweight within the prop trading industry, boasting an impressive 4.9 out of 5 rating from over 12,000 reviews on Trustpilot. Catering to a wide range of traders with funded accounts starting from $2,000 to $50,000, they offer three distinctive account types designed to suit different trading styles and experience levels. Significantly, they incentivize their traders by offering a generous first payout that includes the initial fees with an additional 12%, and potential bonuses during the evaluation stage. With profit sharing going up to 90% and competitive commissions, they create an attractive proposition.
Leverage is another area where My Forex Funds shines, offering options scaling from 1:50 to 1:500, providing traders with the flexibility to execute a variety of strategies. Furthermore, they show a strong understanding of a trader’s journey by imposing no time limits on their Evaluation Program, a feature that is particularly appealing to traders who wish to take their time honing their strategies without pressure.
Insights into Super Funded
Super Funded, although newer to the scene with its incorporation in February 2023, stands out with its offer of real accounts and allocation capital extending up to a significant $600,000. The company’s policy on a 90% profit split is in line with the best in the industry, demonstrating their commitment to rewarding their traders’ success. They also offer a highly flexible trading environment, allowing news trading, overnight holds, and weekend positions, along with a simplified one-step evaluation process.
The absence of minimum trading days is another advantage that should not be underestimated. This policy empowers traders to operate on their own terms without the constraint of having to trade more frequently than they might prefer.
Critical Comparison of Services
When we contrast these firms, several differences emerge. My Forex Funds appears more established with a robust community foundation and substantial feedback. Their range of funded accounts is extensive, and their transparency with payments is affirmed by public reviews and documentation. On the other hand, Super Funded, while offering potentially larger account sizes and an easier evaluation process, appears to lack this same level of community engagement and proof of payment credibility which may be concerning to prospective traders.
Consideration of Trading Conditions
Trading conditions reveal another split. While Super Funded provides a relaxed environment free from many constraints associated with prop firms, their allotted leverage is much lower when compared to My Forex Funds, which may be a significant trade-off for those who rely on higher leverage. However, Super Funded's lack of restrictions on news trading, overnight and weekend holding could tip the scales for certain trading styles.
Reflection on Rules and Instruments
Both My Forex Funds and Super Funded have a set of rules that include a Consistency Rule, Maximum Daily Loss, and Profit Target among others. These rules are there to safeguard the firm’s capital while encouraging responsible trading behaviors. However, each has unique restrictions; for instance, My Forex Funds does not allow for Expert Advisors (EAs) and has a no weekend holding policy, which some might find limiting.
Regarding the tradeable instruments, both firms provide traders access to a similar range, including Commodities, Crypto, Forex, and Indices, indicating a broad market where multiple opportunities can be harnessed.
Payment Methods and Currencies
Payment facilitation is paramount for traders and both My Forex Funds and Super Funded offer familiar deposit and withdrawal methods such as Crypto and Deel. This choice affords convenience and accessibility for a global audience. Although both firms operate with USD as the account currency, My Forex Funds has visibly more options in terms of account sizes, indicating that they cater to a wider spectrum of trader capital requirements.
Final Thoughts
In summary, retail traders and potential users are faced with distinctive choices between My Forex Funds and Super Funded. My Forex Funds comes across as a more established and perhaps a safer choice due to its proven track record, extensive feedback, and transparency. Nevertheless, Super Funded, notwithstanding its less-established status, could attract traders with its more liberal trading conditions and the lure of a larger maximum account size.
Traders must weigh the firms' pros and cons against their personal trading style, risk appetite, and the importance they place on community reputation and trustworthiness. Both firms present compelling services, but with quite different propositions, reflecting the diverse needs of the retail trading community.
