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My Forex Funds - Discussion/Q&A

  • #81
  • Jul 12, 2021 4:11pm Jul 12, 2021 4:11pm
Quoting MyForexFunds
{quote} 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

Can you please post a link where more details on this is published. I had a look at your website, but couldn't locate it.
Trading is SIMPLE not EASY.
  • #82
  • Jul 13, 2021 5:29am Jul 13, 2021 5:29am
Hey ForexFactory!

We wish you a great trading week ahead as well as health and happiness!

Because of an influx of support chats from the members here are ForexFactory about our upcoming challenge we thought we would make the first announcement, a pre-announcement, if you will about the challenge.

We have come into some delays on the release due to the dashboard integration issues we had the last week so its slightly delayed and we have to change the date to TBC rather than an official date but will be launched very soon.

MFF vs Traders

Overview

Looking for a way to skip phase 2 on your evaluation? How about a refund before you reach your first profit split period? Then show your worth against the rest with the greatest FOREX funded prop trading challenge!

The MFF vs Traders challenge is a trading competition like no other where you will be rewarded with the ability to skip your phase 2 and get refunded straight away on your evaluation. But first, you must prove yourself against a member of the MFF team as well as your peers!

How-it-works

Simply purchase a $100,000 evaluation and follow the opt-in on the landing page (to be provided very soon). You will be contacted by our staff to confirm your admission into this round of the competition. If you miss out, never fear, we are doing this every fortnight.
Every round will last 2 weeks with a daily leaderboard presented in our blog as well as on discord and ForexFactory.
At the end of two weeks (10 trading days) the winner of the leaderboard (if they pass within 30 days) will be rewarded with the ability to skip phase 2 and get an immediate refund on their evaluation fees.
Of course, you still must beat the MFF staff member as well to win!

Rules

For fairness there are some rules to assure that a traders’ talent is being measured in this competition and to remove as much ‘luck’ from the equation as possible. Those rules are:

1) Max lots open at any time – Forex and metals 10, CFD’s 50
2) All trades must have a stop loss
3) No EA’s (including trade copiers), human trading talent only.
4) No weekend holding
5) MFF staff must record themselves taking every trade
6) Any trader who wins and does so whilst recording themselves on youtube will go into our hall of fame (which we plan to use for future promotions).

If you break these rules, you will not lose your evaluation account, you just forfeit participation in the trading challenge.

We had planned to announce this officially this week but due to delays we are not exactly sure when it will be announced but likely within the next fortnight.

So, do you have what it takes?

The trader for MFF will change after each challenge or two.

Note that our staff trade but only a few trade professionally so sometimes will be easier than others to win.

Hopefully this answers the questions for the folks who have contacted us about our post here and we look forward to seeing you on the leaderboard.

Once again have a great week everyone!

Yavuz Karadeniz
Support team lead
https://www.myforexfunds.com
  • #83
  • Jul 13, 2021 9:48am Jul 13, 2021 9:48am
Just got my first payment from MFF
Nice!
Those who don't believe in magic will never find it
  • #84
  • Jul 13, 2021 10:35am Jul 13, 2021 10:35am
Quoting garfield75
{quote} Can you please post a link where more details on this is published. I had a look at your website, but couldn't locate it.

He said its not released yet, I am waiting for the announcement too.
  • #85
  • Jul 18, 2021 10:40am Jul 18, 2021 10:40am
Bought yesterday the accelerated program and im waiting for the account details. I will update my journey here
  • #86
  • Jul 19, 2021 7:44am Jul 19, 2021 7:44am
Hey MFF

If trading the Rapid account it states that the demo is traded with a 12% profit share, upon reaching 10% of that demo balance than that amount is available to trade live.

So can you please confirm that if you opt for the $100,000 account and achieve 10% after say 3 months you will end up with two accounts to trade and you would need to trade these simultaneously?

Demo = $100,000 + $10k equity so $110,000 total x10% = $11,000

Live = $11,000

Also I'm not sure if this is a typo on your website, you state that there is NO profit sharing but also state that you share 12%? Can you clarify this, i assume you mean profit share on a live account i.e. 50%, 65% and the 80%

"On the account you sign up for – you will make 12% of all profits you make while trading. There is no profit sharing in this case as you will be trading on a simulated account. This payout is considered an expense for us in-order to find top traders that can manage our funds."

Would you also mind expanding a bit on a scaling plan for a trader on the Rapid account, if any? I can't find any details, FTMO are pretty clear with this.

Cheers

F
  • #87
  • Jul 19, 2021 8:21am Jul 19, 2021 8:21am
Quoting Fagin
Hey MFF If trading the Rapid account it states that the demo is traded with a 12% profit share, upon reaching 10% of that demo balance than that amount is available to trade live. So can you please confirm that if you opt for the $100,000 account and achieve 10% after say 3 months you will end up with two accounts to trade and you would need to trade these simultaneously? Demo = $100,000 + $10k equity so $110,000 total x10% = $11,000 Live = $11,000 Also I'm not sure if this is a typo on your website, you state that there is NO profit sharing but...
Hello Fagin,

I hope you and your family doing great ! Let me answer your questions one by one.
With rapid model you get paid %12 bonus from demo account, It isnt a profit share because you will be trading in demo for the first 3 months minimum. Since there is no trades executed, we are giving you bonus for your time and effor equals to %12 of your profit amount.

Every month, we add maximum %3,5 profits to a live account for you, so whenever you reach %10 of initial starting capital (which will be in 3 months minimum) You will get a live account that has %10 of your initial starting balance in it.

You can keep trading both accounts and get paid from each individually. We will keep adding %3,5 profits from your demo account to your live account each month, that is your scaling plan.

I hope this message answers all of your questions.

Regards,
Yavuz KARADENIZ
Support Team Lead
www.myforexfunds.com
  • #88
  • Jul 19, 2021 8:57am Jul 19, 2021 8:57am
Quoting MyForexFunds
{quote} Hello Fagin, I hope you and your family doing great ! Let me answer your questions one by one. With rapid model you get paid %12 bonus from demo account, It isnt a profit share because you will be trading in demo for the first 3 months minimum. Since there is no trades executed, we are giving you bonus for your time and effor equals to %12 of your profit amount. Every month, we add maximum %3,5 profits to a live account for you, so whenever you reach %10 of initial starting capital (which will be in 3 months minimum) You will get a live...
Hi Yavuz

Thanks for clarifying that so based on your scaling it would look like the following assuming I am making 1% per week which is my current working plan:

After month 3 with $100k demo now at $111k

Live account = $11k

Month 4 demo equity = $115 400

3.5% Scaled into live = $4040 therefore live account balance = $15040? and so on compounding.. each month?

Finally another question, if I may? What is the point of running two profitable accounts side by side, demo and a live with different amounts/profit splits, at what point do you merge or go live and drop the demo? I don't use trade account copiers or EAs, I manually enter and manage my trades.

I've had to choose the Rapid model because my efforts may make 1% per week but the drawdown elimination time may take me out of the standard time limits for other trials..

Thanks

F
  • #89
  • Jul 19, 2021 9:08am Jul 19, 2021 9:08am
Quoting Fagin
{quote} Hi Yavuz Thanks for clarifying that so based on your scaling it would look like the following assuming I am making 1% per week which is my current working plan: After month 3 with $100k demo now at $111k Live account = $11k Month 4 demo equity = $115 400 3.5% Scaled into live = $4040 therefore live account balance = $15040? and so on compounding.. each month? Finally another question, if I may? What is the point of running two profitable accounts side by side, demo and a live with different amounts/profit splits, at what point do you merge...
You will get 10k$ Real account from us with the 100k Rapid account.

If you end up above 103.5k with demo after month 4, we will add 3.500USD to your real account maximum. Its not %3.5 of the profits, it is %3,5 maximum per month

You will be trading both accounts if you want that is just an option for you, you dont have to trade demo when you get your live account. But both of them will be functional until you violate a rule from them.

I hope this answers your questions. You can contact with us from our live chat in website for more information if you want. It will be faster that way.

Best,
Yavuz.
  • #90
  • Jul 19, 2021 9:52am Jul 19, 2021 9:52am
Quoting MyForexFunds
{quote} You will get 10k$ Real account from us with the 100k Rapid account. If you end up above 103.5k with demo after month 4, we will add 3.500USD to your real account maximum. Its not %3.5 of the profits, it is %3,5 maximum per month You will be trading both accounts if you want that is just an option for you, you dont have to trade demo when you get your live account. But both of them will be functional until you violate a rule from them. I hope this answers your questions. You can contact with us from our live chat in website for more information...
Great thanks.
  • #91
  • Jul 20, 2021 1:09am Jul 20, 2021 1:09am
Major red flag for MFF terms in Evaluation is the 50% only profit share in case of breach in Live accounts (if in profit) and even that depend on strict rules...

Come on, just give people their hardly earned profit...This is so unnecessary...almost all similar proprietary programs including FTMO just pay out trader's part without any reduction or conditions.
always draw trendlines
  • #92
  • Jul 20, 2021 5:08am Jul 20, 2021 5:08am
Quoting tk5
Major red flag for MFF terms in Evaluation is the 50% only profit share in case of breach in Live accounts (if in profit) and even that depend on strict rules... Come on, just give people their hardly earned profit...This is so unnecessary...almost all similar proprietary programs including FTMO just pay out trader's part without any reduction or conditions.

You know that everyone has that rule right? FTMO have conditions and restrictions to pay out profit of people who broke daily that doesn't even have any definition its based on "our teams analysis of your account".

MFF have at least stated that if you keep proper risk management, have a stop loss and have traded for the 10 minimum days you will get paid.
  • #93
  • Jul 20, 2021 10:33am Jul 20, 2021 10:33am
Quoting Takisd
{quote} You know that everyone has that rule right? FTMO have conditions and restrictions to pay out profit of people who broke daily that doesn't even have any definition its based on "our teams analysis of your account". MFF have at least stated that if you keep proper risk management, have a stop loss and have traded for the 10 minimum days you will get paid.
what means "proper risk management" ? terms are unclear man..there is human factor. FTMO is clear about this thing though.
always draw trendlines
  • #94
  • Jul 21, 2021 12:42am Jul 21, 2021 12:42am
Hi MFF

I posted this on discord but it got lost in the wave...

Hi I'm trading the Rapid account and I do need to trade simultaneously buy and sell. Although these are separate trades I'm assuming you will mark these as hedges?

FROM THE FAQ TERMS "Is hedging allowed? Yes, however you are only allowed 2 hedged positions at once. When you close a hedged position, you can open another one immediately after."

So if I have 2 sells open I can only open 1 buy and cannot open another buy until that 1st one closes?

Please confirm, thanks.

F
  • #95
  • Jul 21, 2021 6:05am Jul 21, 2021 6:05am
Quoting tk5
{quote} what means "proper risk management" ? terms are unclear man..there is human factor. FTMO is clear about this thing though.

They have stated multiple times publicly

Have a stop loss on all your trades
Not have huge orders so that your DD is hit from 1 single trade
Have lasted the 10 days.

Pretty simple.
  • #96
  • Jul 23, 2021 3:51pm Jul 23, 2021 3:51pm
MFF is starting to really impress me!

On Wednesday morning I got an email from MFF, they where offering to pay me out and scale me up a level early, if I would like that....
How can I say no

I have this feeling, this is going to be a very good relationship
Those who don't believe in magic will never find it
  • #97
  • Jul 24, 2021 3:48am Jul 24, 2021 3:48am
Hello Everyone,

We are very excited to announce that our meme 'pizza party' has started. Please check our blog from the link below to read the details for the event!

So from July 23rd till August 13th we will be hosting a pizza party. Spread the love of both My Forex Funds and pizza and enter the draw to win a 50k Evaluation account.

https://myforexfunds.com/pizzaparty/

Regards,
Yavuz KARADENIZ
Support team lead
www.myforexfunds.com
  • #98
  • Jul 24, 2021 5:29pm Jul 24, 2021 5:29pm
On you MFF Accelerated (conventional/Emphatic) account, can you choose to get paid bi-weekly or monthly instead of the weekly withdrawal option?
  • #99
  • Jul 25, 2021 8:32am Jul 25, 2021 8:32am
Quoting wealthminers
On you MFF Accelerated (conventional/Emphatic) account, can you choose to get paid bi-weekly or monthly instead of the weekly withdrawal option?
Hello Wealthminer,

You can choose to get paid whenever you want, weekly payment is a minimum time period that you can request a profit split. But we suggest you to get your money into your pocket when you scale up with us. Please check the rule #2 Bonus Disbursements from the link below.

https://myforexfunds.com/accelerated-accounts-rules/

Sincerely,
Yavuz KARADENIZ
Support Team Lead
www.myforexfunds.com
  • #100
  • Jul 25, 2021 10:54am Jul 25, 2021 10:54am
Just received my 2% bonus on my last phase 1 completion....on a Sunday....very impressive.
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