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Attachments: My Forex Funds - Discussion/Q&A
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My Forex Funds - Discussion/Q&A

  • Post #1
  • Quote
  • First Post: Dec 9, 2020 10:38pm Dec 9, 2020 10:38pm
Hello All,

As we continue to grow, we have decided to come to FF forum as well to answer any questions that you may have. As many of you already know, we provide a unique model where our traders are eligible to:

  1. Earn from day one without going through any assessments/challenges/or targets
  2. Payouts are every two weeks (again, no targets necessary)
  3. Variety of accounts to choose from (10K to 100K)
  4. Different models to choose from (Subscription based vs One Time)

Just like other firms, we do expect our traders to follow risk management guidelines that we provide. And for that, any beginner traders are encouraged to learn on demo accounts before joining our firm (or trading at all).

We will be happy to answer any questions that you might have.

Regards
MFF

Welcome.

Good to see you making yourself available on FF.

I'm sure as you continue to grow it will become invaluable to traders.

Good luck.
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
Quoting Freefox
Welcome. Good to see you making yourself available on FF. I'm sure as you continue to grow it will become invaluable to traders. Good luck.
Thank you We look forward to serving the FF community ....
Quoting myforexfund
Hello All, As we continue to grow, we have decided to come to FF forum as well to answer any questions that you may have. As many of you already know, we provide a unique model where our traders are eligible to: Earn from day one without going through any assessments/challenges/or targets Payouts are every two weeks (again, no targets necessary) Variety of accounts to choose from (10K to 100K) Different models to choose from (Subscription based vs One Time) Just like other firms, we do expect our traders to follow risk management guidelines that...
Hello, any links to read what you offer?
Quoting makenas
{quote} Hello, any links to read what you offer?
Hello,

Yes, you can check out https://www.myforexfunds.com/accounts. We have all of our different accounts as well as models there. If you have any specific questions, you can reach out to us via email at [email protected] or here (we promise to be faster this time!)

How are we different?
- No challenges, targets, and assessments = potential to earn from day one
- Bi-weekly payout - Again, a trader does not need to meet any "targets". Traders makes % profit from day one
- One of the, if not the, lowest cost program around.
- Use one of our four recommended brokers or BYOB.

Look forward to hearing from you.
For those who are interested, please see our latest Christmas Promo

Have an amazing Christmas and holiday season. Be safe ...
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On behalf of My Forex Funds, we would like to wish all traders a very happy, healthy and profitable 2021!
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I do not join you because of your consistency rule and you do not allow the use of EAs, Scripts.
No serious firm adopts these rules. As long as you have these restrictions, you will be small.
Quoting TrendLover
I do not join you because of your consistency rule and you do not allow the use of EAs, Scripts. No serious firm adopts these rules. As long as you have these restrictions, you will be small.
Hello TrendLover,

First of all - you have a pretty cool name!

It's actually funny you mention that today as we just finalized and launched our "no consistency account" model as well.
As far as EAs and scripts are concerned, you ARE allowed to use them as long as you get prior authorization from us.

Let us know if you have any further questions.
Quoting myforexfund
{quote} Hello TrendLover, First of all - you have a pretty cool name! It's actually funny you mention that today as we just finalized and launched our "no consistency account" model as well. As far as EAs and scripts are concerned, you ARE allowed to use them as long as you get prior authorization from us. Let us know if you have any further questions.
Can you elaborate on the "No Consistency Account" as I don't see it on the website? And you mention on your site-"Drastic change in lot sizes, % risk/trade and other variables will be flagged and may lead to pay suspension for that month. Constant violation may result in account termination". How drastic of a change are you talking about? I vary my risk from 1-3% per trade, depending on the setup I see and my lot sizes will vary quite a bit as pip values from pair to pair are very different. One pair, using 2% risk, for example, may use 5 lots but another pair may take 8-10 lots because of a lower pip value. Also, if I'm trading indices like US30 or NAS100, the lot sizes are way smaller (about a 1/10th of normal lot sizes on Forex pairs) for the same risk percentage on the same broker.
Quoting mer071898
{quote} Can you elaborate on the "No Consistency Account" as I don't see it on the website? And you mention on your site-"Drastic change in lot sizes, % risk/trade and other variables will be flagged and may lead to pay suspension for that month. Constant violation may result in account termination". How drastic of a change are you talking about? I vary my risk from 1-3% per trade, depending on the setup I see and my lot sizes will vary quite a bit as pip values from pair to pair are very different. One pair, using 2% risk, for example, may use...
Hello,

Thank you for your question. We did update our website with the following recently:

Consistency Enabled Account (CEA) – On an account that you sign up for – you will be paid 10% on a bi-weekly basis during your first month. If you’re successful in your first and second payout, we will increase that to, 12.5% for second month – 3rd and 4th bi-weekly payouts. After that, you will earn 15% bi-weekly – 5th payout onwards . Your earnings will depend on being successful and not committing any violations in the trading period for that month. The increase in payout percentage (i.e. 10% to 12.5% to 15%) will take place if you have two consecutive payouts. Aforementioned payouts can be as little as $1. An increase will not take place if an account is in negative balance. If a violation is made, your pay tier will reset to 10%.
No Consistency Account (NCA) – On an account that you sign up for – you will be paid 10% on monthly basis during your first month. If you’re successful in your first payout, we will increase that to 12.5% for second month and 15 for third month and onwards. Your earnings will depend on being successful and not committing any violations in the trading period for that month. The increase in payout percentage (i.e. 10% to 12.5% to 15%) will take place ONLY after you have successfully finished a month in profit. Aforementioned payouts can be as little as $1. An increase will not take place if an account is in negative balance at the end of the month. If a violation is made, your pay tier will reset to 10%.

Happy to answer any more questions that you may have.
Any scheduled sales coming for Valentine’s Day?
Quoting Cchevaughn
Any scheduled sales coming for Valentine’s Day?
Maybe - and that is all we can tell you at this moment.
Quoting myforexfund
{quote} Maybe - and that is all we can tell you at this moment.
I heard about you via FreeFox member. I checked the rule of MFF.
Actually, 10% of EE is not attractive at all.
So, could you please make more clear about FE? I have some understanding as below?

Ex:
-I sign up a 100k $ account with NCA (non consistent account)
-1st month, I make 10% profit ~ 10k$. My EE is 10% of 10k$ ~ 1k$.
This 1k$ of EE is allocated to my FE account. So after 1st month, my FE account already filled 1k$.
-2nd month, I make 40% profit ~ 40k$. My EE if 10% of 40k$ ~ 4k$.
This 4k$ of EE is not allocated full to my FE account. Since, only 3.5% at max. Therefore, only 3.5k$ is allocated to my FE.
So after 2nd month, my FE account already filled 1k$ + 3.5k$ = 4.5k $.
-Then, after some next months, when my FE account already filled up to 10% of initial signup account (100k $), means 10k$. I'm allowed to access and trade it.
My 10k$ FE account now can be accessed and trade with 50% profit split (up to 80% later). At this step, any rule s applied to my FE account?

if my above understanding is correct, I think there is no attractive at all of MFF comparing to 70% profit split of FTMO or 50% profit split of Enfoid.
Quoting TrungLN
{quote} I heard about you via FreeFox member. I checked the rule of MFF. Actually, 10% of EE is not attractive at all. So, could you please make more clear about FE? I have some understanding as below? Ex: -I sign up a 100k $ account with NCA (non consistent account) -1st month, I make 10% profit ~ 10k$. My EE is 10% of 10k$ ~ 1k$. This 1k$ of EE is allocated to my FE account. So after 1st month, my FE account already filled 1k$. -2nd month, I make 40% profit ~ 40k$. My EE if 10% of 40k$ ~ 4k$. This 4k$ of EE is not allocated full to my FE account....
Hello Trung,

Our model is totally different than the companies that you mentioned. We have a very simple and attartive business model that ensures our traders have a chance to get paid from day one. A lot of traders do come to us from above mentioned companies due to variety of reasons, biggest one being ease of getting paid for the time invested.

If a trader wants to jump through different hoops and go through different phases/tests/assessments that could last up to 90 days+ before seeing any chance of earning, that is totally up to them. We provide a different dimension of trading and earning potential. I would urge you to read Mr. FreeFox's as he compares different companies and different approaches we take. It really depends on the trader and what they are looking for. Check out his thread here: https://www.forexfactory.com/thread/...2#post13310512

Your assumptions are correct above w/ the example of 100K account w/ NCA option. Once you have access to live account, the only rule we have is a 15% drawdown. You can trade how, when, what you want at that point.

Thanks for you interest and hope you have a good rest of your day!
Quoting myforexfund
{quote} Hello Trung, Our model is totally different than the companies that you mentioned. We have a very simple and attartive business model that ensures our traders have a chance to get paid from day one. A lot of traders do come to us from above mentioned companies due to variety of reasons, biggest one being ease of getting paid for the time invested. If a trader wants to jump through different hoops and go through different phases/tests/assessments that could last up to 90 days+ before seeing any chance of earning, that is totally up to them....


>> Your assumptions are correct above w/ the example of 100K account w/ NCA option. Once you have access to live account, the only rule we have is a 15% drawdown. You can trade how, when, what you want at that point.

Thanks for your reply. If so, I think your FE is no sense. Why?
1.Traders have to make over 70% profit in demo account to reach FE account (10% of sign up account).
2. Even traders can access FE account. Let's say 10k FE account. With max DD 15%, they can expect to reach +15% per month. And even 15%, only 1500$ earn. After 50% profit split with MFF, remain 750$ for traders who got very giant profit 15% per month.

That's why I think MFF should remove this FE. And, try to improve EE, to attract more traders.

I write this because I want to join MFF, but the benefit is low and can not comparable with others popular ones.

I suggest MFF incsrease EE as below (and remove FE ar all).
1. 20% for 1st month.
2. 25 % for 2nd month
3. 30% for 3rd month and onward.
At least like above, enough attraction to traders to join MFF when comparing to 70% profit split of FTMO, 50% profit split of Enfoid and 80% profit split of TradersCentralFunds

What do you think?
  • Post #17
  • Quote
  • Edited Jan 18, 2021 12:14am Jan 17, 2021 11:44pm | Edited Jan 18, 2021 12:14am
Quoting TrungLN
{quote} >> Your assumptions are correct above w/ the example of 100K account w/ NCA option. Once you have access to live account, the only rule we have is a 15% drawdown. You can trade how, when, what you want at that point. Thanks for your reply. If so, I think your FE is no sense. Why? 1.Traders have to make over 70% profit in demo account to reach FE account (10% of sign up account). 2. Even traders can access FE account. Let's say 10k FE account. With max DD 15%, they can expect to reach +15% per month. And even 15%, only 1500$ earn. After 50%...
1- you don't need to make 70% at demo for reach real account - just 3.5% for every month for 3 months will be enough as rule say in mff site
[Second way to earn (aka your Funded Earning or “FE”) – For every dollar you earn on your simulated account, we will match and put it in your trading account]
so if you make 3500$ at demo , they transfer 3500$ to real account so how 70%?

2-i think they can't increase profit share because in the end they also want to make money that's their business but may in the future they can offer new packages for traders who seeking large profitshare maybe.
also one more thing : FTMO PAY you FROM FAILED traders fees and because they copy your trades , BUT MFF don't copy your demo trading they pay from their own pocket until you get access to real account so they can make real profits with you that's why profit share is small because it's just bonus for courage you to keep good work and because they pay it from their own pocket not from your trading at demo

i don't agree with you that there is no benefits , honestly they are a lot of benefits:
1- no challenge
2-no rules except daily and max DD
3-no time limit (i am up and down for almost 6 months now and they are ok with that)
4-you getting profit share monthly for trade demo account.
5-and that's the real advantage they offer refund to you once you reach live account ! so as long as you respect rules , it's just extra income for free !
6-lets say you paid 949$ for get 100k account , if you make every month 3.5% which is 3500$ you get 350$ every month and after 3 months you get access to live account so you made (3500*10% first month=350 , 3500*12.5% second month=437$ , 3500*15% third month=525$) so you made in total=1312 + you get refund again ... how that's not good?

also i don't agree with you other firms is more popular or attractive you didn't mentioned the bad side or other bad part of story :
1- ftmo and enfoid want you to gamble for 20 days hoping you hit the target or lose everything which make high pressure on trader and need good luck because if your system didn't work well at challenge period then you lose your money.

2- traderscentral: are you read that in their terms and conditions?
Quote
On the live funded account the total equity drawdown is minus ten percent, but at a loss of minus two & five percent on the USD50,000 & five percent on the USD25,000 - USD5,000 the company has the right to review the account and decide whether to allow normal trading to continue or pull out the funding.
they can kick you out just for hit 2% dd , or 5% on 5k which is just 250$!
they can disqualify you if don't like your system also even if you passed challnege
without mention strict rules on leverage and lot size and strategies .

so i see a lot of bad side and disadvantages to that other firms you mentioned when you look at the other part of story

maybe good one is the5ers but don't forget they have rules related to leverage etc .

i hope that's will make some sense , have green week
>> 1- you don't need to make 70% at demo for reach real account - just 3.5% for every month for 3 months will be enough as rule say in mff site
[Second way to earn (aka your Funded Earning or “FE”) – For every dollar you earn on your simulated account, we will match and put it in your trading account]
so if you make 3500$ at demo , they transfer 3500$ to real account so how 70%?

At begining, I tried to understand like you.
But, after I made detailed explanation to MFF at post #14, they replied that I understood correctly.
Therefore, not all profit you made on demo acc added to your FE. Only your EE added to your FE acc. That's why you need to make up to 70% profit on demo account to gain enough EE for access FE acc.
That's too low benefit.
Please recheck my detailed example at #14.
Now, you see how low benefit of FE?
Quoting TrungLN
>> 1- you don't need to make 70% at demo for reach real account - just 3.5% for every month for 3 months will be enough as rule say in mff site [Second way to earn (aka your Funded Earning or “FE”) – For every dollar you earn on your simulated account, we will match and put it in your trading account] so if you make 3500$ at demo , they transfer 3500$ to real account so how 70%? At begining, I tried to understand like you. But, after I made detailed explanation to MFF at post #14, they replied that I understood correctly. Therefore, not all profit...
i believe the one who replied to you didn't read your post correctly:
if you made 10000$ at 100 k account: you get 10% as profit share which is 1000$ (in case it's your first profitable month)
after that 3.5% of 100k account = 3500$ , and since you made 10000$ only 3500$ will go to you real account.

i hope the one who replied you fix his mistake until they changed rule without tell me
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