MyForexFunds – A World Leader in the Prop Firm Industry

The pandemic pushed many new retail investors into the stock market, as market volatility coupled with COVID lockdowns created a great opportunity for investors to trade the stock markets and create extra income.

In general, there are two paths for a trader to follow – trade in a retail account or become a professional trader.

Retail traders often face a problem of undercapitalization and are limited by the amount of personal funds at their disposal for trading. A skilled and experienced trader looking at larger opportunities can benefit immensely from receiving trading capital. And that’s where MyForexFunds comes in.

Introducing MyForexFunds

Proprietary trading or forex prop trading is when a firm allows traders to trade stock, futures, or commodities with the firm’s own money to earn profits and share with the firm. Trading with a forex prop firm gives traders the opportunity to increase their account capital with minimal exposure.
While many prop trading firms offer funding services to traders, MyForexfunds, an Ontario-based prop trading firm and its versatile products and services, sets it apart from the rest.

MyForexFunds was introduced to the world in 2020 and since then it has grown rapidly, attracting more than 180,000 traders from over 150 countries. The Company’s motto “Your Success is Our Business” is aimed at assisting traders and helping them grow together.

With over 2000 new traders per day, MyForexFunds’ vision is to expand its business into similar niches and offer funded trading accounts to more people who pursue to benefit from their skills.

What is different about MyForexFunds?

MyForexFunds offers funding programs with the best market conditions that can be adapted to different trader profiles, allowing traders to manage a real funded trading account from Day 1 and earn bonuses, without requiring an evaluation.

It also offers profit splits that can reach up to 90%, managing an account of up to $2.02 million.

MyForexFunds traders can choose from three types of accounts:

  • Evaluation accounts
  • Rapid accounts
  • Accelerated accounts

Evaluation Account

The MyForexFunds Evaluation account is built for semi-professional forex traders in need of capital to move to the next level of their careers. In this option, traders can prove their skills and talent by going through a two-phase process and starting their trading journey with MyForexFunds.
Evaluation phase one requires a trader to reach a profit target of 8% within 30 calendar days of the day the first position is placed on the evaluation account. Phase two requires a trader to reach a profit target of 5% within 60 calendar days.

After completing both evaluation phases, the trader is awarded a funded account with no profit targets. After completing phase two, the trader also receives 2% of the profit made in the phase one evaluation.

Rapid Account

The Rapid account program is designed to reward traders for their time while assessing them as they learn to trade with a demo account. The account sizes range from $10,000 to $100,000. The Rapid program’s goal is to gain a three-month snapshot of the traders’ capabilities before giving them access to the company’s live trading funds.
The advantage of this program is that traders get to earn 12% bonus profit payouts while being assessed — despite the trading being done in a demo environment. The program does not have profit targets.
Upon successful completion of the three-month demo period, traders receive a funded account and start receiving a profit split of 50% in the first month, increasing to 65% and 80% in the second and third months, respectively.

Accelerated Account

The Accelerated program, the company’s third option, is built for professional full-time traders with experience in financial markets who want to boost their capital immediately without risking their own money.
This account ranges from $2,000 up to $50,000, and traders can grow their funds all the way up to a max of $2 million with scaling. Accelerated program accounts have no time limitations, lot size restrictions, or consistency rules to follow. They also do not have any profit targets to meet to be eligible for weekly payouts.

In all three options, traders are required to respect a 5% maximum daily loss and 12% overall maximum loss rule.

MyForexFunds VIP – a Pioneering Reward Program for Traders

  • MyForexFunds has unveiled a rewards program for traders who persevere and do the hard work to obtain success.
  • The VIP feature has several perks for loyal and successful traders:
    90% profit split
  • The ability to withdraw at any time with no restrictions
  • Semi-automated payout confirmations
  • Many more surprises unveiled every day to the VIP traders

MyForexFunds CEO Murtuza Kazmi said: “The VIP Program was a long-time idea from our team. Putting our heads together we have come up with a way to reward those successful traders who are trading with us and give motivation to the rest of the community. The VIP Program features a number of extra perks that we hope traders will enjoy, including an elegant VIP badge for them to be proud of.’’

Is MyForexFunds’ rapid growth sustainable for the next years

MyForexFunds Marketing Director Iordanis Passas commented: “We’ve demonstrated sustained and consistent growth in recent years, and the market indicates that we will continue to do so. Our business is performing well, with high demand for our products and services and a robust pipeline of new projects. However, we believe that growth comes from building a great company over the long term. We want to maintain our position as one of the world’s leading prop firms, not necessarily in size but in quality, and to achieve that, we maintain a business that our employees and traders enjoy working with.”

To learn more about MyForexFunds, visit the company website www.myforexfunds.com.

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