- 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.
TradingFunds
- Impressive Trustpilot rating of 4.3/5.
- Single-step evaluation with 1:10 to 1:100 leverage.
- Profit sharing of 80% to 90%.
- Flexible trading: overnight, weekends, and during news events.
- Unrestricted trading strategy.
Cons ❌
My Forex Funds
- Delayed response time on Livechat support due to queue
- Instances of slippage issues
TradingFunds
- Elevated evaluation account fees
- Trailing Drawdown
- Starting leverage at a low of 1:10
- 2% Maximum stop-loss for each instrument
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
TradingFunds
Maximum Trailing Drawdown, Profit Target, Stop Loss Required, Third Party Copy Trading Risk, Third Party EA Risk
My Forex Funds stands out as a prestigious proprietary trading firm for retail traders seeking flexibility and favorable profit-sharing terms. With more than 12,000 Trustpilot reviews and sporting an impressive 4.9 out of 5 rating, the firm has clearly garnered the community's trust and satisfaction.
Prospective traders can select from an array of funded account sizes ranging from $2,000 to $50,000, spanning across three distinct account types to match different trading styles and risk appetites. What sets My Forex Funds apart is the generous first payout which includes not only the initial fees paid but also an additional bonus of 12%, effectively liberating traders from the initial investment risk.
During the evaluation stage, participants can also benefit from bonuses, and once funded, the profit sharing can climb up to an exceptional 90%, which is among the highest in the industry. The competitive commissions and leverage options that extend up to 1:500 make it more enticing for traders looking to maximize their trading potential.
The No Time Limit on their Evaluation Program is also a notable feature, providing traders with ample breathing space to reach profit targets without the pressure of time restrictions.
However, it's important for traders to be aware of the My Forex Funds rules which include the Consistency Rule, Maximum Daily Loss, and other specifics that must be adhered to for successful account management.
In regards to funding and withdrawals, while My Forex Funds accommodates credit/debit cards and crypto for deposits, withdrawal methods are slightly more limited, with crypto and Deel being the only options.
TradingFunds Review
TradingFunds emerges as a promising new player in the prop firm sector, having been incorporated in February 2023. Despite being relatively young, it boasts a solid Trustpilot rating of 4.3 out of 5, indicating a favorable reception from its early user base.
One of the key advantages of TradingFunds is the simplified single-step evaluation process and the flexibility it offers in trading styles which includes allowing overnight, weekend, and during news event trading – a liberty not commonly found in other prop firms. Moreover, traders have the freedom to employ unrestricted trading strategies.
Profit sharing is competitive, situated between 80% to 90%, on par with many top-tier firms in the industry. Account sizes are provided in USD, which is standard across the industry, and a diverse range of tradable instruments, including metals, makes TradingFunds an attractive prospect for diversification-minded traders.
However, there are considerations to bear in mind, such as the relatively high evaluation account fees and a starting leverage of 1:10 which may deter traders looking for higher immediate leverage. Their rules around Trailing Drawdown and a mandatory 2% Maximum stop-loss per instrument establish a strict risk management framework that traders must navigate.
TradingFunds facilitates transactions with a wider array of withdrawal methods including Crypto, Deel, and PayPal, indicating a slight edge in convenience over My Forex Funds.
Comparative Analysis
When comparing My Forex Funds and TradingFunds, retail traders are given a dichotomy of choices that reflect different trading preferences and styles. Both firms provide excellent profit-sharing plans and have built commendable reputations in their short periods of operation.
Potential users must weigh the benefits of My Forex Funds' more established track record and higher trust ratings against TradingFunds' increased operational flexibility and inclusive approach to trading strategies.
The choice between the two may come down to the importance of evaluation processes, account offerings, and personal preferences in payment processing methods.
For traders with a strong trading strategy and looking for well-established firms, My Forex Funds is likely the more appealing option. However, for those who value trading flexibility and can afford steeper evaluation fees, TradingFunds offers a unique and potentially profitable opportunity.
In conclusion, both My Forex Funds and TradingFunds bring unique and compelling offerings to the table, allowing traders to select a prop firm that best aligns with their trading goals and operational preferences.
