My Forex Funds: Understanding Prop Trading Models
Beatrice Quinn
Alexandra Winters
Proprietary trading firms have surged in popularity by offering skilled traders access to significant capital and profit-sharing opportunities. My Forex Funds (MFF) – a prominent name in this space – exemplifies how modern prop trading models operate. This article provides an in-depth look at My Forex Funds, explains how prop trading firms work, compares MFF with top competitors, and analyzes the advantages, risks, and recent regulatory challenges surrounding this firm.
Understanding Proprietary Trading Firms
Proprietary trading firms (or “prop firms”) are companies that allow traders to trade using the firm’s capital, rather than their own. The firm and trader then split any profits earned. In this model, the firm essentially partners with traders, aligning interests: successful trades benefit both parties. Aspiring traders typically must prove their skills through an evaluation challenge before accessing a funded account. For example, a trader might pay an upfront fee to attempt a simulated trading challenge with profit targets and strict risk limits. Those who pass the evaluation are offered a funded account to trade real (or further simulated) capital, with the firm bearing losses up to a defined limit. Profits are shared per a predetermined split (e.g. 80/20 in favor of the trader), while the firm’s upfront fees help cover its costs and risk. This structure can be mutually beneficial: traders get leverage and keep a majority of profits, while firms earn from profit splits and evaluation fees.
Modern prop firms often occupy a regulatory gray area. They market themselves as talent incubators or skill-test providers rather than traditional brokers, since clients trade on the firm’s accounts. This means traders are not investing their own money in markets through these firms, but paying for a chance to trade the firm’s capital. Top prop firms like FTMO, The5%ers, and My Forex Funds have popularized this model in the retail forex community by offering substantial account sizes and generous profit splits for those who can meet their performance criteria.
How My Forex Funds Works Compared to Other Prop Firms
My Forex Funds, founded in 2020 and based in Canada, quickly became one of the world’s leading prop trading firms. Like its peers (e.g. FTMO, The5%ers), MFF requires traders to pass a demonstration of profitable trading before funding them. However, MFF distinguished itself with flexible options and lower fees. It offers three main account programs:
- Rapid Account: A demo trading program where traders can start immediately on a virtual account with no profit target or time limit. Uniquely, MFF even pays out a small percentage (12%) of profits earned on the demo account. The Rapid program is aimed at beginners who want to practice trading and still earn some money. Traders choose account sizes from $10,000 to $100,000 virtual balance. Drawdown rules still apply (e.g. 5% daily, 12% overall), and traders must trade at least 3 days per week. This lets novices build consistency and get comfortable, while MFF’s team evaluates their performance.
- Evaluation Program: This is the standard two-phase challenge similar to FTMO’s. Traders pay a one-time fee (e.g. $499 for a $100,000 account) which is refundable upon success. They then must hit profit targets of +8% in Phase I and +5% in Phase II without violating risk rules. Each phase comes with a time limit (30 days for Phase I and 60 days for Phase II, though MFF allows extensions or quicker completion if targets are hit early). During the evaluation, MFF permits flexible trading – any strategy, holding trades over weekends, and trading multiple asset classes including forex, indices, commodities, and even crypto. Risk management rules include a 5% daily drawdown limit and 12% overall drawdown on the account. These rules are slightly more lenient than FTMO’s (FTMO uses a 10% overall drawdown) and help ensure traders don’t take reckless risks with the demo account. Those who pass both phases are awarded a funded live account.
- Accelerated Program: For experienced traders, MFF’s Accelerated accounts let you skip the evaluation and start trading a live funded account immediately. Traders can purchase an account of $2,000 up to $50,000 with no demo phase. Because MFF assumes more risk without testing the trader first, the fees are much higher (e.g. ~$2,450 for a $50k “Conventional” accelerated account, which is not refundable). Accelerated accounts come in two types: Conventional and Emphatic. Both types have no time limits or daily drawdown rules. The Conventional accounts allow a 5% maximum drawdown and require +10% profit to double the account to the next milestone. Emphatic accounts allow a larger 10% drawdown but require +20% profit to reach the next growth milestone. In either case, as traders hit the profit milestones, the account balance increases (MFF advertises the potential to grow an Accelerated $50k account up to about $2 million through compounding).
Profit-Sharing Model: My Forex Funds offers competitive profit splits that reward traders as they progress. In the Evaluation accounts, funded traders start by keeping 75% of their profits, which can increase to 80% and 85% after successive payouts for consistent performers. For example, a trader might receive 75% on the first payout, 80% on the second, and 85% thereafter (reaching the cap). MFF even introduced a VIP program for its most successful traders, granting up to a 90% profit share along with other perks (available after at least 5 payouts and three months of trading in good standing). By comparison, FTMO starts traders at a 80% profit split and can scale them to 90% with excellent performance. The5%ers traditionally start lower (around 50% profit split for initial funding) but can eventually offer 100% of profits once a trader scales up to multi-million-dollar account sizes. My Forex Funds’ profit-sharing model (75–85%) was considered very generous in the industry, striking a balance between immediate reward and long-term incentive for traders.
Fees and Rules: One reason MFF grew rapidly is its relatively affordable fees and slightly relaxed rules. A $100,000 evaluation at MFF costs about $499 (refunded once you’re funded), whereas the same at FTMO costs around €540 (~$600). MFF’s drawdown limits (5% daily / 12% overall) give a bit more breathing room than some firms’ 10% overall cap. They also allowed weekend holding of positions during evaluation (FTMO prohibits holding trades over the weekend in challenges). MFF did enforce some unique rules: for instance, a consistency rule to prevent “gaming” the system – traders had to avoid drastic changes in lot sizes or trading frequency that looked like gambling. MFF required at least one trade on 3 different days each week, pushing traders to show regular activity. Such rules, while meant to encourage good habits and protect the firm, were not always common at other prop firms and were sometimes a point of contention among traders.
In summary, My Forex Funds operates similarly to other prop firms in that it evaluates traders and funds them in exchange for a share of profits. However, it carved out a niche by offering multiple account types (from beginner-friendly to instant funding), lower entry costs, and a supportive environment (e.g. active Discord community and 24/7 support staff). These features made MFF very attractive, arguably lowering the barrier for talented traders to get funded. Next, we’ll walk through the practical side – using the MFF platform and what the login process entails for traders.
My Forex Funds Login and Platform Walkthrough
Getting started with My Forex Funds is designed to be user-friendly. Traders begin by signing up on the official MyForexFunds.com website and purchasing the desired account program. Upon payment, MFF provides credentials for two things: the trading platform account (usually a MetaTrader 4 or 5 login) and the MFF client dashboard.
Trading Platform: MFF supports the popular MetaTrader 4 and 5 platforms, and had plans to add cTrader as well. Traders receive a login for MT4/MT5 where they execute trades on a demo server (during evaluation or Rapid) or a live server (once funded). All standard trading activities – placing orders, setting stops, running expert advisors (with approval) – happen in MetaTrader. Notably, MFF allows algorithmic trading with some vetting: if you want to use an Expert Advisor (trading bot), you must submit the code for approval to ensure it doesn’t exploit system glitches. This is to prevent forbidden strategies like latency arbitrage. Other platform rules include a limit of two simultaneously hedged positions in forex and no trading of individual stocks or cryptocurrencies on funded accounts (those instruments were only available during the demo stage on Rapid accounts). Overall, the trading experience on MFF is similar to a normal brokerage account in MT4/MT5, aside from these rule constraints.
MFF Dashboard: The My Forex Funds login portal (client area on their website) is where traders track their progress and manage their account. After signing up, traders can log in to this dashboard to view metrics like current profit/loss, drawdown percentage, number of trading days, and whether any rules have been violated. The dashboard is an essential tool, especially during the evaluation phases – it clearly shows if the trader is meeting the profit target or approaching a drawdown limit. MFF introduced an upgraded trader dashboard that many found helpful for performance analytics (e.g. tracking best trade, worst trade, win rate, etc., similar to how FTMO provides an account analysis) – an “accessible dashboard” that one user praised for helping monitor progress. Through the portal, funded traders also request payouts. MFF offered payouts on a monthly or bi-weekly schedule; traders could request a withdrawal as soon as two weeks after starting a funded account, which was faster than the traditional monthly cycle. Withdrawals are typically processed via bank transfer, cryptocurrency, or online wallets, and MFF became known for speedy payouts (many traders reported receiving payouts within days of request).
Using the MFF platform generally involves toggling between MetaTrader (for executing trades) and the MFF website (for tracking objectives and handling account admin). The login process is straightforward: you log into MetaTrader with the credentials for your evaluation or funded account (provided by MFF’s broker partner) and trade normally; separately, you log into the MFF dashboard with your email/password to see account status. It’s important for traders to regularly check the dashboard to ensure compliance with rules. If a rule is violated (e.g. exceeding the daily loss limit), the dashboard will typically flag the breach and the account may be locked. MFF’s support team is accessible via live chat and email – and even Discord – in case traders have login issues or need clarification on metrics. Overall, the My Forex Funds login experience combines familiar trading software (MT4/MT5) with a bespoke web interface for performance tracking, delivering a seamless setup for traders to focus on trading without worrying about backend logistics.
Key Advantages and Limitations of Using My Forex Funds
Like any prop firm, My Forex Funds offers both compelling benefits and notable drawbacks. Here we break down the key advantages that attracted traders, as well as the limitations and risks to be aware of:
Advantages of My Forex Funds:
- Low Barrier to Entry: MFF’s evaluation fees are lower than many competitors, and account options start as small as $5K or $10K, making it accessible. For instance, an entry-level $5,000 challenge cost only $49, and even a $100K account challenge was around $499 – cheaper than FTMO’s equivalent. Fees are refunded once you successfully get funded, so serious traders viewed it as a no-risk investment in themselves (if they pass, they get the fee back).
- High Profit Splits: MFF’s profit sharing is very generous. Traders retain 75–85% of profits in funded accounts, which is on par or better than industry standards. In fact, MFF introduced a VIP tier at 90%, putting it among the highest profit splits offered. This means successful traders keep the lion’s share of what they earn, more so than at some older prop firms that might start traders at 50% or 60%.
- Multiple Account Programs: The choice of Rapid, Evaluation, or Accelerated accounts is a unique strength. It caters to different trader types: beginners could start in Rapid to earn while they learn (getting 12% of demo profits); seasoned pros in a hurry could buy an Accelerated account to skip waiting. Few firms offered such flexibility under one roof.
- Faster Payouts & Scaling: Unlike the traditional monthly cycle, My Forex Funds allowed bi-weekly payouts (every 14 days) for funded traders. Getting paid twice a month improves cash flow for traders. MFF also offered scaling plans – e.g. a 30% account increase every 4 months for consistently profitable evaluation traders – enabling traders to grow their account size over time. This focus on rapid rewards and growth made the firm very attractive.
- Trader Support and Community: MFF established a strong reputation for customer support with 24/7 availability and an active Discord community. Traders often commended MFF’s support team for responsiveness and appreciated the sense of community, where MFF staff would engage on Discord to answer questions and celebrate trader successes. This added a level of trust and camaraderie, which is important in what can be a solitary endeavor (trading).
Limitations and Risks of My Forex Funds:
- Strict Rules and Inconsistency Penalties: MFF’s rule set, while protecting the firm’s capital, could be seen as strict by traders. The daily drawdown limit (5%) and overall drawdown (12%) require disciplined risk management – a single day of losses beyond 5% of the account would breach the account. Additionally, MFF’s consistency rule (limiting sudden changes in trade size/frequency) forced traders to maintain a steady strategy. While these rules aim to prevent lucky gambling, they sometimes punished traders for adapting their strategy. A trader could pass the profit target but still fail the evaluation due to a consistency violation, which was a controversial aspect.
- Fee-Driven Model Concerns: Critics point out that prop firms make a large portion of their revenue from failed challenge fees, not just profit splits. Regulatory investigations into MFF revealed that profit payouts to traders were effectively coming from new customer fees, “tantamount to a Ponzi scheme” according to U.S. regulators’ allegations. European regulators have similarly warned that some firms design challenges as a “video game” that is contrived to make traders fail and re-pay fees. Belgium’s FSMA noted the evaluations “are not easy, not cheap and often consumers have to take, and pay for, several of them… There is a good chance that some consumers never pass. This is how prop trading firms earn money from them.” These warnings highlight a fundamental risk: traders can spend considerable fees on challenges and never reach a funded outcome. While skilled and disciplined traders do succeed, the pass rates are low (often only 5–10% pass), meaning many traders lose their fees. MFF, like others, refund fees upon success, but unsuccessful attempts are revenue for the firm.
- Short Track Record: My Forex Funds grew rapidly since 2020, which also meant it had a short operating history. Compared to, say, FTMO (founded 2014) or Topstep (founded 2012), MFF was relatively new. A short track record can be a limitation when assessing stability – indeed, MFF’s explosive growth (135,000+ users by 2023) may have outpaced its internal infrastructure at times. Some traders reported technical glitches in the dashboard or occasional delays in support responses during peak growth. The firm’s fast growth also caught regulators’ attention (as discussed in the next section). For traders, a newer firm poses the risk that its policies or even solvency can change quickly if hit with legal or financial troubles.
- Regulatory Uncertainty: Perhaps the biggest limitation is the regulatory cloud that formed in 2023. In August 2023, My Forex Funds was shut down temporarily by legal action – a U.S. court froze its assets, halting payouts to traders. This was a stark reminder that prop trading exists in a gray area outside traditional financial regulation. While MFF’s case was dismissed in 2025 (meaning they avoided a fraud verdict), the episode caused massive disruption. Traders had their accounts paused and funds in limbo during the shutdown. The risk of sudden regulatory intervention is a limitation one must consider when using any prop firm. Until clear regulations are established, traders face uncertainty about the firm’s legal operating status, especially in certain jurisdictions.
Despite these limitations, many traders had a positive experience with My Forex Funds prior to the shutdown. The firm boasted a 4.9/5 TrustPilot rating during its peak, indicating a high level of customer satisfaction. The allure of trading large sums with limited personal risk is real – but so are the challenges of the evaluation and the importance of choosing a reputable firm. Next, we delve deeper into the controversies and regulatory issues that have surrounded My Forex Funds, as these events provide important context for its operations.
Legal and Regulatory Controversies
My Forex Funds’ rise did not come without turbulence. In 2023, MFF became the subject of a high-profile regulatory action that sent shockwaves through the prop trading industry. Understanding this episode is crucial for traders to gauge the firm’s credibility and the broader regulatory environment for prop firms.
CFTC Fraud Allegations (2023): On August 29, 2023, the U.S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement action against MFF (Traders Global Group Inc.) and its CEO, alleging fraud and registration violations. The CFTC’s complaint painted MFF’s business as fundamentally deceptive: it claimed MFF “presented itself as a partner in customers’ success when, in fact, trading was carried out in a demo environment and the company functioned as a counterparty to the transactions.” In other words, the CFTC said traders weren’t trading in the real market – their trades were kept internal, and MFF would profit whenever traders lost. Moreover, the complaint accused MFF of manipulating traders’ results via a software that introduced artificial slippage and hidden commissions, thereby hindering traders’ profitability. The most damning assertion was that MFF’s payouts to successful traders came from the fees of new customers, which the CFTC likened to a Ponzi-like scheme. These allegations, if true, implied that MFF wasn’t actually making money in the markets at all, but rather recycling fees – a business model that would collapse if new sign-ups dried up.
Upon the CFTC’s request, a U.S. federal court swiftly granted a restraining order in late August 2023. This froze MFF’s assets and effectively shut down the business overnight. More than 135,000 MFF customers suddenly found themselves in limbo, unable to trade or withdraw funds. The Ontario Securities Commission (OSC) in Canada also took parallel action, reflecting the cross-border nature of the operation. For the prop trading sector, this was an unprecedented enforcement move – a “fall of a prop trading giant,” as some headlines put it.
The Defense and Case Dismissal: MFF’s management vehemently denied wrongdoing. They maintained that they operated legally and that customers were treated fairly. In a court fight that followed, MFF’s lawyers filed motions to sanction the CFTC for misrepresentations. Notably, the defense revealed that a large transfer (C$31.5 million) which the CFTC flagged as suspicious was actually a tax payment to Canada’s revenue agency, and that the CFTC was informed of this before filing the case. This and other procedural missteps by the CFTC became the focus. In a dramatic turn, a court-appointed special master found the CFTC’s conduct “willful and in bad faith,” citing that the agency made false statements and withheld critical information from the court. As a result, in May 2025 a U.S. federal judge dismissed the CFTC’s lawsuit against My Forex Funds and even ordered the CFTC to pay MFF’s legal fees as a sanction. Acting CFTC Chair Caroline Pham admitted the agency’s conduct was “inexcusable,” saying the CFTC must take corrective action to restore its credibility.
It’s important to note that the case was dismissed due to CFTC misconduct, not because MFF was proven innocent of all the allegations. The court did not rule on the truth of the fraud claims; it set them aside because of the agency’s procedural violations. As one legal analysis put it, this was a “technical victory” for MFF that “did not negate the impact of the original statement of claim”. In other words, the serious accusations remain a cautionary sign for the industry, even though MFF escaped legal penalty.
Regulatory Scrutiny on Prop Firms: The MFF case triggered wider scrutiny of prop trading firms worldwide. Regulators in Europe also ramped up warnings in 2023–2024. For example, Consob (Italy) warned that many online prop firm offers resemble a “finance video game” luring traders into paying for challenges with the promise of funding. FSMA (Belgium) similarly alerted that prop firms let consumers “play a shadow investment game” that often leads to reckless behavior and financial loss. These regulators pointed out issues like contrived difficulty of challenges and lack of real trading, echoing the points raised in the MFF case. The prop trading sector, as of 2025, is clearly on notice: authorities in the U.S., Canada, and EU are examining these businesses and may impose new rules to ensure transparency and consumer protection. MFF’s saga likely accelerated that regulatory attention.
Current Status of My Forex Funds: After the dismissal of the U.S. case in 2025, My Forex Funds indicated intentions to resume operations. The asset freeze was lifted, and MFF was essentially cleared to continue business. However, as of mid-2025 the firm’s future remained uncertain. Observers noted that despite the legal win, MFF’s reputation took a hit and it faces the challenge of rebuilding trust with traders (some of whom were left waiting for payouts during the shutdown). Moreover, compliance adjustments may be needed – ensuring clearer disclosure that many accounts are demo/simulated, for instance, to address the deception concern. MFF’s lawyers stated after the case that “Our clients are — and always have been — compliant with the law and innocent of the allegations…”. Time will tell whether My Forex Funds can back up that claim by operating in a more transparent, regulator-friendly manner going forward.
In summary, the controversies around My Forex Funds underscore both the innovative potential and the pitfalls of the prop firm model. Traders considering prop firms should stay informed about these developments. Next, we present a side-by-side comparison of My Forex Funds with other top prop trading firms, to put its offerings in context.
My Forex Funds vs Other Top Prop Firms: Comparison Table
To understand My Forex Funds’ competitive position, it’s useful to compare its key features with other leading prop firms. Below is a comparison across metrics like maximum funding, challenge difficulty, profit splits, and payout policies for MFF and three well-known peers:
| Prop Firm | Max Funding Available | Challenge Difficulty | Profit Split to Trader | Payout Policy (Withdrawal) |
| My Forex Funds | Up to $300,000 evaluation account (standard); up to $50,000 instant funding (Accelerated), with scaling potential to ~$2 million | Two-Phase Evaluation: Profit targets +8% (Phase 1) and +5% (Phase 2) in 30-day and 60-day stages; 5% daily and 12% overall drawdown limits. Accelerated option has no evaluation (Conventional: 10% profit milestone; Emphatic: 20% milestone). | 75%–85% standard profit share on funded accounts (increases after first payouts). 90% for top performers (VIP program). Rapid accounts earn 12% on demo profits. | Bi-Weekly Payouts available. First withdrawal can be requested after ~2 weeks of trading. Payouts via bank transfer, crypto, etc., typically processed quickly (often within days). |
| FTMO | Up to $200,000 per challenge (multiple can be combined); account scaling up to $2 million over time. | Two-Phase Evaluation: +10% in 30 days (Phase 1) and +5% in 60 days (Phase 2) with 5% daily and 10% overall drawdown limits. Strict risk rules; well-defined challenge. | 80% starting profit split (increases to 90% with scaling and consistent performance). Refunds the challenge fee upon successful completion. | Bi-Weekly or Monthly Payouts. Standard is monthly, but FTMO allows on-demand payout after 14 days in funded account. Payouts are processed swiftly (often within 1–2 business days) and support various payment methods. |
| The 5%ers | $100,000 typical max initial funding (depending on program); can scale up to $4 million account over time. | Multiple Programs: Offers one-step challenges (e.g. achieve +7%–10% with no time limit) and two-step “High Stakes” programs. Generally more relaxed pace – some programs have no time limit or extended periods (up to 6 months) to hit targets, focusing on consistency. Drawdown limits vary (often ~5% daily, 6–12% total). | 50% starting profit split on initial funded account, but scales up to 100% for top-performing traders as account size grows. The firm rewards longevity: profit share increases at certain growth milestones, eventually letting traders keep all profits at highest scaling tiers. | Bi-Weekly Payouts across all programs. Traders can usually withdraw profits at any time once they are funded (no need to wait for a target, aside from initial profit objective to get funded). The5%ers emphasizes steady growth; withdrawals can be smaller but frequent, with no minimum profit required to request a payout. |
| The Funded Trader | $400,000 maximum single account size (Standard challenge); offers various challenges and can combine or scale accounts up to $600k+ for successful traders. Some marketing claims total scaling up to $1.5–$2.5 million across multiple programs. | Multi-Program Options: Offers 1-step and 2-step challenges (e.g. Standard 2-phase: +10% then +5%; Rapid 2-phase: +8% then +5%; also a 1-phase “Knight” with +10% target, etc.). No time limits on most challenges; 3-5 minimum trading days required. Risk limits around 5% daily, 10% overall drawdown (varies by account type). Flexible but complex structure (“gamified” themes with different rules per challenge type). | 80% typical starting profit split, with performance-based increases. Profit share can rise to 90% on standard accounts. Top traders can be invited to a scaling/VIP program up to 95% profit split. (Tiered system: more payouts achieved = higher profit share). | Monthly Payouts are the default (payouts on a fixed monthly date). However, bi-weekly withdrawals can be arranged in some cases or after the first payout. The Funded Trader’s payout process is evolving; it supports popular methods (bank, crypto) but some users report it’s less standardized (case-by-case scheduling). |
Sources: Official program details from MyForexFunds, FTMO, The5%ers, The Funded Trader and user/industry reports.
As the table shows, My Forex Funds became a strong competitor by offering large funding (up to $300k to start, with the possibility of millions through scaling) and favorable profit splits comparable to the best in the industry. Its two-step challenge had slightly easier profit targets than FTMO (8% vs 10% in phase 1) and a shorter overall evaluation period, which many traders appreciated. MFF’s fees were lower, and the bi-weekly payout approach set a new standard that others, like FTMO, eventually also adopted.
On the other hand, MFF’s relative newcomer status and the regulatory issues in late 2023 put it at a disadvantage in terms of stability. Firms like FTMO and The5%ers, with longer track records and no major legal disputes, retained an image of safety and reliability. The5%ers caters to a different niche – longer-term, low-pressure trading – whereas MFF and FTMO appeals to those wanting quicker results and higher leverage. The Funded Trader, another newer entrant, pushed profit splits even higher (up to 95%) and experimented with various challenge types, indicating how prop firms were innovating to attract traders.
For a trader choosing a prop firm, these comparisons highlight the trade-offs: My Forex Funds offered a blend of lower cost and high reward, but recent uncertainty around its legal standing is a consideration. FTMO offers stability and a polished process but at a higher cost. The5%ers offers patience and even a path to 100% profit share, but initial splits are lower and growth is gradual. Ultimately, the “best” choice depends on a trader’s style, budget, and risk tolerance regarding the firm’s longevity.
Conclusion: Navigating Prop Trading with Insight and Caution
My Forex Funds’ journey is a microcosm of the prop trading boom – rapid growth, big opportunities for traders, but also regulatory growing pains. For intermediate to advanced traders, firms like MFF present an enticing proposition: leverage your skill to trade big capital, keep most of the profits, and limit your personal downside. The advanced profit-sharing models and evaluation structures are evidence of innovation in trading finance. A disciplined trader who can consistently hit ~10% gains without large drawdowns stands to profit handsomely under these models. Indeed, many have built careers by passing challenges and scaling up funded accounts.
However, the saga of MFF also underscores the importance of due diligence and risk management beyond just trading. The regulatory crackdowns show that traders must consider not only “Can I pass this trading challenge?” but also “Is this firm operating above-board, and what happens if things go wrong on their end?”. The fact that tens of thousands of traders had accounts frozen in 2023 due to MFF’s legal issues was a wake-up call. Going forward, we may see prop firms institute greater transparency (e.g. clearly stating when traders are on demo accounts, and how payouts are funded) to satisfy regulators’ concerns.
For the prop trading industry at large, experts emphasize finding a balance between innovation and oversight. Will Mitting, a researcher of the prop trading market, noted that the compliance burden has massively increased and fewer new firms are launching as regulations loom. “Regulators need to strike a sensible balance between fair regulation to ensure orderly markets and overly burdensome regulations that increase the barrier to entry…,” he urges. Too much red tape could stifle the opportunities prop firms create for individual traders, yet too little oversight could allow bad actors to exploit customers.
My Forex Funds appears keen to learn from the past and adapt. If it can relaunch with stronger compliance and maintain its attractive trading conditions, it may resume its place as a top prop firm choice. Traders, on their part, should remain educated and cautious: always read the fine print on rules, be aware of how a firm makes money, and withdraw profits regularly rather than leaving large sums accruing. As with any venture in the financial world (especially YMYL – “Your Money or Your Life” – domains like trading), it’s crucial to evaluate both the upside and the potential risks to make informed decisions.In conclusion, My Forex Funds exemplifies both the promise and the challenges of modern prop trading. It has enabled many traders to accelerate their careers through a supportive profit-sharing model. Yet it also highlighted the need for prop firms to operate transparently and for traders to approach these opportunities with professional skepticism. With prop trading firms now on the radar of global regulators, the industry is poised for evolution. Traders who stay informed and adaptable will be best positioned to thrive in this dynamic environment – turning the leverage and funding that prop firms offer into lasting trading success.
FAQs
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My Forex Funds is a proprietary trading firm that funds forex and CFD traders after they prove profitable trading skills. Traders pay a fee to take an evaluation (demo trading with profit targets and risk limits). If they hit the targets without breaking the rules (e.g. 5% max daily loss), they receive a funded account with My Forex Funds’ capital. The trader then keeps a large percentage of any profits (typically 75–85%), while MFF retains the rest. This model lets traders access significant capital and profit potential without risking their own money beyond the initial fee.
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To use My Forex Funds, you will have two logins: one for trading and one for the client dashboard. After signing up on MyForexFunds.com and purchasing a challenge, you’ll receive credentials for a MetaTrader 4 or 5 account (this is where you execute your trades) and credentials for the MFF dashboard on their website. You log in to the MetaTrader platform using the provided account ID and password to place trades. Separately, you log in to the MFF online dashboard (with your email and password) to track your progress – it shows your profit, drawdown, days traded, etc. The dashboard is also where you request withdrawals once you’re funded. In summary: trade on MetaTrader with MFF’s account, and monitor your account status or request payouts through the MFF dashboard login.
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My Forex Funds operates in a relatively new area of the trading industry that currently lacks specific regulation. It is a legitimate business, but it is not a broker, so it isn’t regulated in the same way a brokerage or investment firm would be. In 2023, MFF faced a CFTC lawsuit in the U.S. that accused it of fraudulent practices, leading to a temporary shutdown. However, in 2025 the case was dismissed due to misconduct by the regulators, not because MFF was definitively proven compliant. This means there was no final legal determination of fraud. MFF’s owners claim the firm always followed the law. If MFF resumes operations, it likely will do so with more transparency. Traders should understand that prop firms like MFF are currently unregulated offerings – you’re relying on the company’s own credibility and track record. It’s wise to start with smaller accounts and withdraw profits regularly as a precaution when dealing with any unregulated platform.
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My Forex Funds is often compared to FTMO, as both offer two-phase trading challenges for funding. MFF’s challenge has slightly easier profit targets (8% then 5%, versus FTMO’s 10% then 5%) and lower fees, making it more accessible for some traders. MFF also introduced features like multiple account types (including instant funding) and bi-weekly payouts, whereas FTMO traditionally had monthly payouts (now also allowing bi-weekly). In terms of profit split, MFF starts at 75% to the trader (scaling to 85% or even 90% for top performers), while FTMO starts around 80% (scaling to 90%). Other prop firms offer various models: The5%ers for example, has no time limit programs and a lower starting profit split (50%) that can eventually reach 100% as you scale up. The Funded Trader offers up to 90–95% profit share but with more complex challenge options. In summary, My Forex Funds’ competitive edge was its combination of low cost and high flexibility, though recent regulatory issues have made some traders prefer the more established FTMO despite its stricter rules and higher fee. Your choice should factor in your trading style (fast vs. slow evaluation), budget, and comfort with the firm’s reliability. The comparison table above provides a detailed feature break-down.
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If you fail the MFF evaluation (for instance, by not reaching the profit target in time or by violating a drawdown rule), the evaluation account is typically closed. You do not get a funded account, and the fee you paid is not refunded (it’s only refunded if you pass and get a live account). However, MFF often allows discounted “retries” or extensions in certain cases. For example, if you didn’t hit the profit target but also didn’t break any rules, MFF might grant a free second attempt or extend your time (this was part of their policy to be trader-friendly). If you broke a rule (like exceeding the 5% daily loss), that account is terminated with no retry. You would have to purchase a new challenge if you want to try again. It’s important to thoroughly prepare and maybe even use a trial demo before taking a paid challenge, so you improve your odds of passing. Remember that many traders don’t pass on the first try – the evaluations are meant to be challenging to ensure only skilled, disciplined traders get funded. Managing risk and sticking to the rules is key to eventually succeeding.
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