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My Forex Funds - Discussion/Q&A

  • #101
  • Jul 25, 2021 1:01pm Jul 25, 2021 1:01pm
Quoting pipmaster77
Just received my 2% bonus on my last phase 1 completion....on a Sunday....very impressive.
Hello pipmaster77,

Enjoy your bonus payout. We do our best to keep it up on weekends too!

Regards,
Yavuz KARADENIZ
Support Team Lead
www.myforexfunds.com
  • #102
  • Jul 27, 2021 7:38am Jul 27, 2021 7:38am
Hello Traders,

Did you check our website blog recently ? We started to interview our successful traders. Their experience with us will be in our blog as well as some trading tips from them. Check our blog regularly because there are more coming! Also make sure that you participate our pizza party to get your pizza on the house.

Interview: https://myforexfunds.com/successfultraderinterview1/
Blog: https://myforexfunds.com/blog/

Sincerely,
Yavuz KARADENIZ
Support Team Lead
www.myforexfunds.com
  • #103
  • Jul 28, 2021 2:06pm Jul 28, 2021 2:06pm
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...
Hi Yavuz

Rapid account looks interesting. For me to understand better, can you help me to clarify? If every month I could make 300 per month on 10k Rapid account without violating any rule for a year, the live account would remain 1k? the demo account would be 13.6k?

At the same time, I'll contact your live chat as well.

Lubex
  • #104
  • Jul 31, 2021 6:32am Jul 31, 2021 6:32am
Can anyone help or know this...
If I choose rapid N C A for 10k.
Our target to get second live account is by getting 10%-1000$ profit from demo account. Since they match max 3.5% 350$)from demo win.
Our main target is to win $650 from demo because 1000-350. Then after we get live and demo account ..am I right?
  • #105
  • Aug 3, 2021 3:47pm Aug 3, 2021 3:47pm
Quoting jinsen
Can anyone help or know this... If I choose rapid N C A for 10k. Our target to get second live account is by getting 10%-1000$ profit from demo account. Since they match max 3.5% 350$)from demo win. Our main target is to win $650 from demo because 1000-350. Then after we get live and demo account ..am I right?
Hello lubexfx,

You can keep adding up to your live account maximum %3.5 per month from demo. So in that example, If you make 300$ for a year in your demo, Your live account will be 1000$ + 300$*12= 4600$. Meanwhile you will keep getting %12 of 300$ from your demo account for that year also.

I hope this answers your questions. You will find the link for Rapid account rules below.

https://myforexfunds.com/program/

Best,
Yavuz KARADENIZ
Support Team Lead
www.myforexfunds.com
  • #106
  • Aug 3, 2021 3:53pm Aug 3, 2021 3:53pm
Quoting jinsen
Can anyone help or know this... If I choose rapid N C A for 10k. Our target to get second live account is by getting 10%-1000$ profit from demo account. Since they match max 3.5% 350$)from demo win. Our main target is to win $650 from demo because 1000-350. Then after we get live and demo account ..am I right?
Hello Jinsen,

Your goal is to get live account from demo phase. We add maximum %3.5 from the profits you made into a live account every month, so it will take you 3 months to get live account with minimum %3.5 profits each month.

Check the Funded Earnings inside the rule #5 from the following link below.

https://myforexfunds.com/program/

Best,
Yavuz KARADENIZ
Support Team Lead
www.myforexfunds.com
  • #107
  • Edited 6:38am Aug 4, 2021 6:27am | Edited 6:38am
Hi Yavuz,

I have recently joined MFF on the Evaluation option.

I have to say your communication here and on the Discord channel is very encouraging.

I know it is unprofessional and unethical to talk about other prop firms, but there was an ivestigative documentary on Forex trading shown last night on the BBC in the UK. Some organisations were shown in a very bad light. I hasten to add there was no mention of MFF.

My question to you is very simple. If I pass the evaluation stages will I actually be trading on a live account? The accusation that concerned me is that another company doesn't actually have live accounts and makes payments to successful traders from the funds they earn from evaluations! I should like to think MFF is a lot more ethical.

Here is a link to the programme. https://www.bbc.co.uk/iplayer/episod...1/instatraders If you wish to view it outside of the UK you will need to use a VPN.

Kind regards,

Johnny F
  • #108
  • Aug 4, 2021 8:13am Aug 4, 2021 8:13am
Quoting JohnnyF60
Hi Yavuz, I have recently joined MFF on the Evaluation option. I have to say your communication here and on the Discord channel is very encouraging. I know it is unprofessional and unethical to talk about other prop firms, but there was an ivestigative documentary on Forex trading shown last night on the BBC in the UK. Some organisations were shown in a very bad light. I hasten to add there was no mention of MFF. My question to you is very simple. If I pass the evaluation stages will I actually be trading on a live account? The accusation that concerned...
Hi JohnnyF60,

We saw the documentary as well and whilst we appreciate the content of the documentary it too in itself is slightly misleading due to the small sample size it took and lack of basic industry knowledge. However, we found it to be a good warning to most retail level traders.

MFF executes trades on live accounts, the account that a user gets in “live” status is connected directly to the liquidity pool account. One thing that is not understood by the general user base is that you don’t have to provide 1:1 dollar of funded accounts vs total investment amount. So, for example, if we have 10 million dollars in funded accounts, we might only require 1 million in total equity to execute all those accounts because not all the traders are trading at the same time, we also are constantly negotiating terms such as leverage at liquidity and credit lines for margin (to avoid the constant in and out transactions that would be required for execution). Note that credit lines don’t mean debt, it means margin, like any FX trading account we are stopped out at 0 if that day ever comes. One of the problems with the BBC documentary and their focus on our competitor is that the journalist clearly does not know how things work from an execution perspective and it could mislead the public. The data scientist scene to us is also misleading because we have a data scientist on staff who is employed specifically to increase our profit on order flow to be more than we would make from fees. Whilst their conclusion is an easy one to make if you think very simply, things are more complicated than that as they fail to take into consideration business operation expenses as well as no evaluation model types of accounts. The operational costs of this type of business are high and they include things like platform expenses, liquidity bridge expenses and upkeep, minimum trade volume expenses with liquidity providers, marketing, support staff, backend staff, transaction fees in and out etc.

We cannot speak for our competitor, and there are some ‘trade secrets’ we want to keep to ourselves, but we execute all trades at liquidity but also manage a company account ourselves based on the order flow we receive to offset risk/increase profit. We do make a lot of money from fees, it would be silly for us to deny that, but it is not the sole income of our company. We suspect that the company mentioned in the documentary are likely managing their own account using demo data, which is also a sustainable business model and no cause for alarm.

If any prop firm in this space wishes to last the distance 10 years from now, it is in our opinion that they will need to adapt to a model that does not require any new customers and rely purely on the profitable, risk averse traders that they gather over time.

We hope this answers your question.

Sincerely,
Yavuz KARADENIZ
Support Team Lead
www.myforexfunds.com
  • #109
  • Aug 4, 2021 8:48am Aug 4, 2021 8:48am
Thank you for the prompt reply Yavuz and the detailed explanation. Much appreciated.
  • #110
  • Aug 8, 2021 10:42am Aug 8, 2021 10:42am
Question for Yavuz: How long does it take to withdraw the bonus after completing Phase 2 of the evaluation program? After completing 2 phases and receiving a real account on July 29, 2021 I wrote a billing e-mail asking for a 2% bonus withdrawal, so far it has not been withdrawn. The payment was sent, stopped after a few days and then canceled. When I asked why a different form of payment was requested that I provided. The payment was sent again, but not to my bank account because there are other last digits. Does the MFF pay anything out at all, because if there are so many problems with the payment of the $ 16 bonus, what will it be like with the payment of% of the profit?
  • #111
  • Aug 8, 2021 11:38am Aug 8, 2021 11:38am
Quoting dariko
Question for Yavuz: How long does it take to withdraw the bonus after completing Phase 2 of the evaluation program? After completing 2 phases and receiving a real account on July 29, 2021 I wrote a billing e-mail asking for a 2% bonus withdrawal, so far it has not been withdrawn. The payment was sent, stopped after a few days and then canceled. When I asked why a different form of payment was requested that I provided. The payment was sent again, but not to my bank account because there are other last digits. Does the MFF pay anything out at all,...

I've been paid a lot by them....... without problems.
  • #112
  • Aug 8, 2021 4:03pm Aug 8, 2021 4:03pm
Quoting dariko
Question for Yavuz: How long does it take to withdraw the bonus after completing Phase 2 of the evaluation program? After completing 2 phases and receiving a real account on July 29, 2021 I wrote a billing e-mail asking for a 2% bonus withdrawal, so far it has not been withdrawn. The payment was sent, stopped after a few days and then canceled. When I asked why a different form of payment was requested that I provided. The payment was sent again, but not to my bank account because there are other last digits. Does the MFF pay anything out at all,...
Hello dariko,

It seems like your bank keeps rejecting our payment to you. We initiated the payment from PayPal right now. It will take 48 hours for you to receive your payout because of the PayPal. If you can reply to my DM to you or if you can send an email to [email protected] I can provide the payment proof to you. I hope you will get it in 48 hours maximum which is the estimated time.

Regards,
Yavuz Karadeniz
Support Team Lead
www.myforexfunds.com
  • #113
  • Aug 9, 2021 12:45am Aug 9, 2021 12:45am
Quoting MyForexFunds
{quote} Hello dariko, It seems like your bank keeps rejecting our payment to you. We initiated the payment from PayPal right now. It will take 48 hours for you to receive your payout because of the PayPal. If you can reply to my DM to you or if you can send an email to [email protected] I can provide the payment proof to you. I hope you will get it in 48 hours maximum which is the estimated time. Regards, Yavuz Karadeniz Support Team Lead www.myforexfunds.com
Ok, the money on PayPal arrived quickly, but the Payment from the MyForexFunds Bonus sender is temporarily blocked and PayPal has charged a transaction fee of $ 1.09 which is a lot because 6.8%. If there was a problem with my bank account, you had to write about it in the email right away, and not wait or request other payment methods, I would ask my bank about the problem, because I will ask about it anyway, or I would give the account in USD in another bank.
  • #114
  • Aug 9, 2021 7:57am Aug 9, 2021 7:57am
Quoting MyForexFunds
{quote} Witaj Dariko, Wygląda na to, że Twój bank wciąż odrzuca naszą płatność dla Ciebie. Zainicjowaliśmy płatność z PayPal w tej chwili. Otrzymanie wypłaty w systemie PayPal zajmie Ci 48 godzin. Jeśli możesz odpowiedzieć na mój DM do Ciebie lub jeśli możesz wysłać e-mail na adres [email protected], mogę dostarczyć Ci dowód wpłaty. Mam nadzieję, że dostaniesz go w ciągu maksymalnie 48 godzin, co jest szacowanym...
My bank did not reject any payments, I got the answer: "I can see that the account is active, ready to receive funds, also those sent from abroad. If the transaction is declined, the sender has to verify this with his bank. " So the matter is unexplained for me, the funds have arrived but are blocked, additionally a 7% fee was charged, because the paypal sender chose a commercial transaction, not a private one.
  • #115
  • Aug 9, 2021 10:49am Aug 9, 2021 10:49am
Quoting dariko
{quote} My bank did not reject any payments, I got the answer: "I can see that the account is active, ready to receive funds, also those sent from abroad. If the transaction is declined, the sender has to verify this with his bank. " So the matter is unexplained for me, the funds have arrived but are blocked, additionally a 7% fee was charged, because the paypal sender chose a commercial transaction, not a private one.
Hi Dariko,

When we sent the funds they were sent back to us with a rejection. It is likely due to the conversion of dolllars - > your local currency. We use wise to do these transactions but transact in dollars. It has occurred numerous times in the past with other customers and generally is due to the non acceptance of conversion. Our investigation with wise was that the receiving bank rejected the funds.

For the paypal fee, we will send you coverage of this shortly as a gesture of good will.

Regards,
Yavuz Karadeniz
Support Team Lead
www.myforexfunds.com
  • #116
  • Aug 9, 2021 3:00pm Aug 9, 2021 3:00pm
Quoting MyForexFunds
{quote} Cześć Dariko, Kiedy wysłaliśmy środki, zostały one nam odesłane z odrzuceniem. Jest to prawdopodobnie spowodowane przeliczeniem dolarów na > Twoją lokalną walutę. Używamy mądrego do robienia tych transakcji, ale dokonujemy transakcji w dolarach. Zdarzyło się to wielokrotnie w przeszłości u innych klientów i generalnie jest spowodowane brakiem akceptacji konwersji. Nasze śledztwo z mądrym stwierdzeniem, że bank przyjmujący odrzucił fundusze....
I can see that reputation is the most important thing for the MFF, so everything is OK fast and on time. The given bank account is in USD, so there would be no conversion , but let's leave it. Question by the way: is it possible to withdraw using a credit card or e.g. skrill?
  • #117
  • Aug 11, 2021 6:29am Aug 11, 2021 6:29am
Quoting dariko
{quote} I can see that reputation is the most important thing for the MFF, so everything is OK fast and on time. The given bank account is in USD, so there would be no conversion , but let's leave it. Question by the way: is it possible to withdraw using a credit card or e.g. skrill?
Hello dariko,

Yes we take our reputation very seriously and take our traders even more seriously. If there is ever a problem we try our best to rectify it. We are also working on both payment options but we dont have a deadline yet. We will announce if we come up with an agreement with Skrill. Until then, you can withdraw with Paypal, email money transfer, crypto, wise and bank transfer.

Best,
Yavuz KARADENIZ
Support Team Lead
www.myforexfunds.com
  • #118
  • Aug 15, 2021 7:36am Aug 15, 2021 7:36am
Quoting MyForexFunds
{quote} Hello dariko, Yes we take our reputation very seriously and take our traders even more seriously. If there is ever a problem we try our best to rectify it. We are also working on both payment options but we dont have a deadline yet. We will announce if we come up with an agreement with Skrill. Until then, you can withdraw with Paypal, email money transfer, crypto, wise and bank transfer. Best, Yavuz KARADENIZ Support Team Lead www.myforexfunds.com

Hi, I have a question with regards to the usage of EA for Evaluation account. If we use an EA to enter trade for the purpose of doing position sizing based on risk percentage and also to close trades automatically if Daily Stop Loss is near or User-specified TP is reached, do we also need to submit the EA for approval? To be clearer, user needs to click button buy or sell, then the EA will help to enter position after calculating the position size, it does not enter trade automatically. If it is required to submit this type of EA for approval, can you confirm if you require only the ex4 file or you also require the source code?
  • #119
  • Aug 16, 2021 7:21pm Aug 16, 2021 7:21pm
Quoting eess
{quote} Hi, I have a question with regards to the usage of EA for Evaluation account. If we use an EA to enter trade for the purpose of doing position sizing based on risk percentage and also to close trades automatically if Daily Stop Loss is near or User-specified TP is reached, do we also need to submit the EA for approval? To be clearer, user needs to click button buy or sell, then the EA will help to enter position after calculating the position size, it does not enter trade automatically. If it is required to submit this type of EA for approval,...
Hello eess,

You can use EAs as long as they are not used in the following ways:
- copy trading of other persons signals,
- tick scalping - latency arbitrage trading,
- reverse arbitrage trading,
- hedge arbitrage trading,
- or any use of emulators,
It is a violation if this rule is broken. Any accounts using these types of EAs will be cancelled, banned and not refunded.

So in this case, you can use your EA because it doesn't do any of the listed methods above. You dont have to submit it to us!

Regards,
Yavuz KARADENIZ
Trader Support Lead
www.myforexfunds.com
  • #120
  • Aug 17, 2021 1:31am Aug 17, 2021 1:31am
Quoting MyForexFunds
{quote} Hello dariko, Yes we take our reputation very seriously and take our traders even more seriously. If there is ever a problem we try our best to rectify it. We are also working on both payment options but we dont have a deadline yet. We will announce if we come up with an agreement with Skrill. Until then, you can withdraw with Paypal, email money transfer, crypto, wise and bank transfer. Best, Yavuz KARADENIZ Support Team Lead www.myforexfunds.com
hello, i want to sign up for your program but don't have a visa card.
i wonder if you could accept a visa card payment through third-party ?
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