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You have plenty of time to achieve your target and move to the next phase. Take it slow, observe good risk management techniques. Most traders who pass the evaluation quickly fail on their live account. Be one of the few and not the many. We currently only offer a standard evaluation model. Due to poor success we have removed our aggressive model. There are two phases you must pass in order to become a funded trader. First the evaluation Phase Phase I The evaluation phase is to test your trading skills and give us an idea of what type of trader you are.
The establishment Phase Phase II The establishment phase is just to confirm the results of the evaluation phase. A trader can choose when they start the evaluation process. The calendar day countdown starts from the time you take your first trade. Its imperative that you have a trading plan, trading strategy and risk management profile to successfully complete the evaluation. At My Forex Funds we encourage good trading behavior but do not limit a traders ability to trade in their own style or time.
We do not have a lot size restriction for total open lots on a single account however advise all users to be wary of their risk management profile. Trading activities that are used to take advantage of the inefficiencies of Metatrader. Gap trading, latency arbitrage, Long short arbitrage, Reverse arbitrage, opposite account trading are all unacceptable trading methods with MyForexFunds.
Anyone part-taking in such activities will have their trades adjusted to the executed fill price that we have received from the liquidity pool. Repeat offences will result in account termination. We constantly are looking for the best products and best conditions for our traders. Every now and then the product list may be updated based on the availability of margin, leverage, liquidity, and various other factors.
We adjust our products to increase the profitability of our traders where possible. We may remove a product if there are no users currently passing the phases of the evaluations due to those products. We no longer require you to send us your source code unless there is suspicion of the following:. Tick scalping, Arbitrage, signals from a 3rd party, gap trading, account management services or any other services that break our other rules. Using third party expert advisers is OK so long as it is not managed or traded by another party.
All signals must be your own and based on your own set up. After program purchase you will receive your login details within hours. You are not allowed to change the details of this account under any circumstances. Doing so will be a breach and your account will be suspended. At My Forex Funds, we are looking for individual traders to grow with us long term. What this means is that we want YOU to be the trader.
Its ok to learn your skills from other experts, however, use of signal bots, trade management services or trade copiers will not be accepted. If we notice someone using these services, we will suspend their account. This rule may not apply if you have submitted your expert adviser or bot for prior approval and approval has been granted. You you will receive your first payout 1 month after you place your first trade in the live account.
T his minimum day requirement is removed on the second month. Note: If you have compiled all 3 rules mentioned above, you will have to contact with us in 7 days after the violation for the profit split. Any request about the 7 day period will be rejected. If you have reached your profit-split time, firstly, congratulations. Please get in touch with billing myforexfunds. You can request your payout via bank wire, transferwise, cryptocurrency or paypal.
My Forex Funds offers a competitive scaling up plan so that we grow with you. At the time of scale up request, trader should be breakeven or positive with the account balance. This is monitored closely by an automated system, includes open trades at the time of roll-over and any breach is shown in your account dashboard.
Please be mindful of your trading and be sure to check your available drawdown at server time every day. Breaching this will result in a termination of your account. If you breach your daily drawdown rules whilst in profit. A review will take place to determine whether you followed proper risk management practices no excessive position size, trade numbers etc. If, however, you participate in risky trading and breached the daily drawdown, you will not receive payout of your profits for a breach of the daily drawdown whilst in profit.
No trader at My Forex Funds will be liable for any trading losses. All being said, we encourage you to practice good risk management practices and engage in a trading plan to maximize your chances of not incurring a loss. My Forex Funds are always encouraging traders to practice good, safe trading. If your Phase I 30 day limit is reached and you are in profit without any breaches on the account you are entitled to 1 free extension of up to 30 days OR a unlimited free retakes.
Our extension is only offered to users who are in profit and trade using proper risk practices. Users who do not breach however do not have consistency or risk practices in their trading are only entitled to a free retake. Trade safely, be consistent, get rewarded. If you find that you have breached one of the rules, you are entitled to a discounted reset of that account. Mistakes can happen, and we understand that. We want you in our team so if you have breach the rules enjoy the following discounted prices:.
All traders who pass Phase 1 and Phase 2 will receive a refund of their fees when they reach their first profit-split period at the end of the first month on their live trading account. If your account is inactive for 30 days it will be automatically breached. If you do not inform us within 10 days of the breach the reason for the inactivity, the account will be permanently suspended.
This rule is to prevent us having thousands of hedged trades on abandoned accounts. If you are planning to be away for a prolonged period of time, please inform us and we will make sure your account continues. As our original rule suggests, it is vital that all trading activity with MyForexFunds is your own. This means that every decision made, every trade made comes from your creation and not the hands of others.
Since this rule has been causing requirements for clarity, we have decided to include this rule as an addition to make sure there are no grey areas. Anyone using any vendor that promotes the passing of a prop firm evaluation or challenge will be banned. These vendors generally do not work, and their usage has resulted in many problems with our liquidity providers and their customers who have failed using these services affiliating us with them in some way.
Therefore, any third-party vendor selling any service, whether its account management or an EA, that promotes usage on any prop firm, is forbidden. The market does not function in a manner where every user can trade the same and it remains efficient.
Having pending orders bigger than the market does nothing but ruin the prop firm opportunity for everyone else and so use of such services is prohibited. We are here to provide capital to aspiring traders and we want this opportunity to last a long time. We will not allow the actions of a few to ruin the experience for the majority of traders who come to us for funding.
With the My Forex Funds evaluation account, it is important that you have a plan to increase your chances of success. We encourage you to keep a trading journal, practice sound risk management practices, take your time and be sure to always maintain healthy psychology when trading. MyForexFunds does not directly solicit customers from Canada. People who register for our programs do so at their own volition.
MyForexFunds does not take into consideration your personal financial situation. If you require financial advice, it is recommended that you speak to a financial adviser or licensed professional. MyForexFunds does not act as or conduct services as a broker. MyForexFunds does not act as or conduct services as a custodian. Purchases of programs should not be considered deposits. All program fees are used for operation costs including, but not limited to, staff, technology and other business related expenses.
Additionally, the content of this website is for information purposes only and it is not intended as a recommendation or advice. Any indication of past performance or simulated past performance included in advertisements published by Platinum FX is not a reliable indicator of future results. The customer carries the sole responsibility for all the businesses or investments that are carried out at Platinum FX.
For more information please refer to our Customer Agreements. The Meta Trader 5 mobile app allows trading on the financial markets via iOS and Android powered smartphones and tablets. Get It On Android. New To Forex? Join our expanding client base and many other traders that make up the global financial market. About PlatinumFX An Established and Trusted Broker With over 7 years of experience and a remarkable legacy in the financial market, we are unarguably one of the most trusted and transparent brokers in the forex industry and other trading markets Payment Options.
Our Offices Our international network services traders across the globe. Fully Regulated.