My Forex Funds - Discussion/Q&A

I have been trying to get my dashboard to be operational for 6 weeks now (It stopped functioning altogether and has not updated since). I have been in touch with several different support people and all that happens is after explaining the issue multiple times and providing actual trading proof I simply get no reply.

When I started with them the service was great - now it is all but non existent so I am becoming very wary of the way things are heading.

cheers

An update to my post - all issues have been resolved successfully and MFF were very helpful in the end. Took a while but now back on track. They actually awarded me a new clean account ( I was in a very small drawdown so that was generous). The dashboard functioning well.

Cheers all

Hi Forexfactory community,

We know a lot of you are working with us and there is a lot of interest in our services on these boards. In the past we have failed to maintain a strong presence here to assist our traders, spectators, and update those who are not part of our discord channel. We plan to rectify that.

We have spoken to Twee and have now obtained the official myforexfunds name here (it was taken before and we were missing the s) and are now going to make a huge effort to assist anyone who has questions, constructive criticism, updates on our company and more.

To start with we would like to tell you about a few things that are coming up:

· HK50 CFD has been added to the instruments list
· A new trading challenge/competition will be launched on the 12th of July
· Automation of phase 1 and phase 2 accounts will be complete very shortly
· A large list of futures CFD’s will be added in July
· We have hired a number of new staff in front-end support and back end, we now have English, Spanish, Greek, Turkish, Portuguese, Hindi and Urdu speaking support staff.
· We are introducing a new support CRM system to help us streamline our support bottleneck and prevent the pesky problems that seep through such as accounts not provisioned or missing emails.
· Trading academy for new traders is being developed.
· Platinum and Palladium are now available for trading

We have read through the various threads here regarding Prop firms and noticed a lot of constructive feedback from the community. There are a few criticisms we would like to address so that there is a clear answer:

The first is the minimum 10 trading days requirement.

We understand a traders urge to get funded as fast as possible. We also are very aware of our competitors. One of the things we strive to do is to not promote an image of being a casino, we are not a casino. Some level of trader discipline and patience is required. In our eyes, these traits are especially important one when determining whether a trader will win or lose in the long term. If a trader does not have the patience to wait those trading days, it is telling. Currently, we pay a bonus for traders who pass the phases with us, that alone has shown us that traders’ discipline is important. Many traders inside our database have passed in one trade only to fail the next day due to poor discipline and risk management. A Prop firmby definition is about finding talented traders to trade capital in the long term and that is what we hope to achieve. It serves no purpose for us to have traders pass in 1 trade, pass phase 2 in 1 trade then be funded on day 3. If we were to do this, our failure rate would increase, and our capital would be heavily in risk. It would almost force us to have to behave like a casino. Which as said above, is not of interest to us.


Regarding our accelerated program.

Some people love it, some people do not and that is ok. The way we look at it is its like a t-shirt, we have a collection (our 3 accounts) but not every size or style fits. We do have some improvements coming; however, we have around 1000 accelerated accounts currently trading with the leading trader scaled 3 times already this month.

Finally account provisioning.

Our growth was quite explosive in its nature and caught us a little by surprise. Whilst we have started implementing new systems, we have had to maintain old ones to make sure that we still operate our business. One way to approach it could have been to shut down completely and rebuild however, it would have been bad for business. We have hired a large IT team to build our infrastructure around automation, it is extremely complicated especially when you have a liquidity bridge to manage as well and certain things inside the metatrader admin system cannot be touched or it will kill the bridge or feed. Fortunately, we are near the end of this work for automation, and it will be released soon, and most account provisioning delays/issues will disappear for evaluation accounts. For live accounts and accelerated accounts there is “compliance” which is the contract and identification documents. So, these cannot be automated, however, when automation kicks in we will not be lowering our manpower so that process should speed up considerably as well. Currently our provisioning time is below 24 hours for all accounts apart from accelerated. If your account has taken longer it’s a human error, please get in touch with our support team to rectify it.

We will be here often and will happily converse with the community to improve our services and keep everyone up to date.

Have a great day and best of luck in your trading.

Yavuz
Support team leader

https://www.myforexfunds.com

I purchased the ACCELARATED EMPHATIC option.... I am on it 2 weeks now and I love it!

Your platform is A1, no problems at all. Also love the fact that I do not need to place a SL,
makes my life a lot easier

Can't hold over the weekends, but getting used to it, hope I can adopt my strategy
(I am a primarily a swing trader)

Will be back with more updates, when I have something new

Thank you very much for your kind comments, Although we encourage everyone to use stoploss, there isn't a rule aganist it.

Keep that in mind everything is possible in the forex market and you should always cut your losses whenever you have to !

We wish you best of luck as MyForexFunds family !

Hello traders!

We are excited to announce that we will be adding crypto on our server for all accounts to trade.

Keeping with our purpose we have limited the leverage on crypto pairs to 1:5. From our analysis of past accounts in which we offered crypto, the very few traders who had some success with Crypto were not using any more leverage than that. The traders who used the 1:100 that was on offer, usually attempted to take a trip to the moon and unfortunately came crashing back down.

We noticed that our customers still had demand, so we have added futures tracking Crypto CFD’s available from Monday 4th of July.

For now, we will disable weekend trading of crypto pairs due to the risk that is involved and our inability to staff appropriately to watch to make sure our capital is not at risk from high fluctuations, however we will look at enable weekend crypto trading at some point in the near future once a system has been devised.

We will be removing the no crypto rules from our rules set as well on the website in due time.

We look forward to speaking again to you all soon and wish you the best of luck with your trading.

Have a great day everyone!

Yavuz Karadeniz
Support team lead
https://www.myforexfunds.com

Dear Traders,

We hope you are having a great week!

We have been experiencing an issue with some of our dashboard’s due to a 3rd party vendor issue. We have been working hard to rectify this and it should be completed sometime today.

If this did affect you and you opted to not trade, please get in touch and we can make sure you haven’t lost the day.

Due to this technical issue we are falling slightly behind our planned schedule.

Do you like competition?

Perhaps you’d like to take on one of our staff in an evaluation challenge?

In the coming days we will be announcing our MyForexFunds vs traders evaluation challenge.

At My Forex Funds we pride ourselves on being traders as well as helping traders, so stay tuned and find out how you can take on our staff in an evaluation and get rewarded for winning.

Have a great trading day and as always am at your disposal should you have any questions or feedback for us.

Yavuz Karadeniz
Support team lead
https://www.myforexfunds.com

The problem still have not resolved. The only thing working is the Number of days elapsed which you used to penalized traders. But the Total Trading Days - Actual that the traders used to move on to the next phase is not resolved.

Ok, yesterday just completed the first level on the MFF Accelerated Emphatic account
All went A1, I could not ask for better trading conditions on their Traders Global Group platform
Also to add their support responded to my email within a couple of hours
Now waiting for my payout and my next level account email

is there any more news on this -> A new trading challenge/competition will be launched on the 12th of July

I am thinking of signing up with MFF, so was wondering to sign-up or wait?

Hello Garfield,

If you want to compete with one of our staff on trading you can wait for our release. You can skip phase 2 if you win !

Regards,
Yavuz KARADENIZ
Customer Support Lead
www.myforexfunds.com

what is the minimum lot size for trading cfds/indices and oil on your accelerated emphatic live accounts?

Hello wealthminers,

0.01, but be sure to familiarize yourself with the trading specifications of the instrument you wish to trade because with US30 for instance, 1 lot = 1 contract.

Regards,
Yavuz Karadeniz
Customer Support Lead
www.myforexfunds.com

1. Is there an exact list of whats available for trading? Since your FAQ only says “FOREX, Metals or CFD’s”


2. From your FAQ: “Crypto and stocks are not be traded during evaluation phase.” – But can we trade crypto and stocks after evaluation?


3. Can I get some clarification on max accounts and merging account? “You can have as many Evaluation accounts as you wish up to a maximum of $600,000. However, you can only merge accounts up to $300,000”


4. Do you have any timeline for when you will be adding demo / trial accounts?


5. Do you have any screenshot of the dashboard / account metrix since you don’t have demo accounts yet?


6. Do you have any timeline for when you will be adding cTrader?


7. In which country are you based?


8. What will the trading academy consist of?


9. Do you offer your traders any other form of help like performance coaching etc?

10. What leverage can we trade with?

no.1 concern for MFF is that it shows nothing about company, its legal name, address and country. This is not normal.

Hi Mrfo,

Thanks for the questions, we are happy to answer them.
1) The list is changing regularly, you can assume all normal FOREX pairs that the average broker provides, all major indices, oil, Platinum and palladium, Gold, Silver and now 4 Crypto pairs.
2) We have enabled crypto as of today and users won’t be punished for trading them. We do not have access to any stocks currently available to our customers, there hasn’t really been demand for it and the liquidity for individual share CFD’s is low so we haven’t requested them from our LP’s. The rule for Crypto and stocks is from our time using multiple brokers who had different products. Now that everything is uniform you can trade anything that is available in the trading platform. We will update the website accordingly.
3) You can have $600,000 total capital. But only $300,000 of that can be in 1 account. So to utilize the $600,000 you’d need to have at least 2 separate accounts.
4) Its in the works now, we have to automate the evaluation phases first and then the demo will be made available as part of that automation. Its taking longer than expect but won’t be too much longer.
5) (provide a screenshot)
6) At the moment our team of IT staff are occupied with the deep infrastructure required of the business. Once that is done we will start working on c-trader integration. C-trader integration is more complicated than people think if you are connecting a liquidity bridge that was built for metatrader to c-trader and have to do all the liquidity agreements again as a second entity. Since our main tech provider doesn’t offer c-trader we have to do a separate agreement for it and all the coding work ourselves. It hasn’t been a priority for us because the demand for it is low and our account provisioning speed is taking priority. We do expect to have it sometime in the near future though.
7) Canada
8) It will be a ‘tool shed’ of trading. Providing the people who wish to learn to trade, get funded and increase their chances of passing. We are realistic when it comes to trading in that its not for everyone. Some people just cannot manage the psychological element of trading. But we feel with an academy teaching good habits like planning, risk management and journaling as well as analysis tools that help traders make solid decisions, we can increase the number of successful traders over time. Right now our database is vast and we can see where traders are going wrong so the academy will be tailored around the information we have gathered from the existing traders + our trading knowledge.
9) Not yet. We have a full list of things we are looking to implement but not willing to announce yet. Our Head of trading, Josh, has been helping people who ask for help in discord regularly. Mostly with the psychological element of trading or analysis of trader performance but nothing like Wendy Rhoades from Billions. Since trading is so personal and our industry is more about being “free” to trade capital as you please rather than hedge fund like in nature. It is hard to coach traders. We are thinking more along the lines of enforced risk management solutions for preservation using tech. In our analysis 99% of the time a trader is losing because they trade too big too often so we may offer solutions around that information in the near future.
10)On rapid anything up to 1:500, on evaluation 1:100 and accelerated has 1:50 or 1:100 on fx/metals and 1:50 on CFDs.
Thanks again for the questions and I wish you all the best.

Sincerely,
Yavuz Karadeniz
Support Team Lead
www.myforexfunds.com

Hi Tk5,
I hope you are doing well.
Our company details are as follows:
Company name: Traders Global Group Incorporated
Business number: 1264617-0
Address: 9131 Keele Street Vaughan ON L4K 2N1 Canada.
If you wish to visit the office, please make an appointment and you can meet with Murtuza there.
A simple google search shows these details and all our staff have been handing them out whenever anyone asks. It was an oversight of ours not to have it on the site as it was on the old one, we simply overlooked it to be honest. We will update the site this week with the details.
We will be having multiple offices in multiple countries sometime in the next 6-12 months (pandemic pending).
If there is anything else we can help you with, please let us know.
Sincerely,
Yavuz Karadeniz
Support Team Lead
https://www.myforexfunds.com

Just opened up my platform and noticed it is scaled up to my next level!
Nice my friends! That was fast
Let's make $$$

What is the largest amount MFF has paid out to a trader?
I had a look at your discord, the payout proof are small amounts, does that mean no one is active on 100K or 200K account size?

One guy has been showing like 16k every payout its just there are way more small ones than big ones.