Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Macro & Market Developments, Discussion & Analysis 37 replies

ECN && STP && Scalping && Hedging - Broker Review - Oct 2009 24 replies

XTrade - Trade Journal & FX discussion 8 replies

Risk Reward +Probability [Poll & discussion] 2 replies

S&P 500 Analysis and Discussion Thread 3 replies

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

My Forex Funds - Discussion/Q&A

hi, there..

Have a question regarding NCA account.
from what i understand there are no consistency rules for NCA account like number of trades per week, or number of lots.
But there would still be SOME rules that NCA account holders have to follow right?
I am assuming 12% max drawdown is one of them.
What other rule(s) NCA accounts have to follow?
apologies, if already answered in this thread.. kinda exhausted after reading so many pages on MFF site.


also, tried to register today (Saturday) for NCA account, but page keep on crashing.
Hey ForexFactory!

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

We are very happy to announce that our MFF vs Traders episode 2 registrations started earlier today. The next episode for the competition will start with the next week's opening bell. Check the link below for more information and opt-in form.

https://myforexfunds.com/mff-vs-trad...nge-episode-2/

Best Regards,
Yavuz Karadeniz
Trader Support Lead
www.myforexfunds.com
Another month has passed for my live evaluation account and more problems with the payout. I wrote an e-mail to billing with a request to pay the profit to my bank account to which I was paid in the previous month without any problems, the answer was: Crypto Wallet Needed! Why does the MFF keep making payouts difficult (see # post 110)? Do I always have to make enough noise to get another payout (see # 113 and 114) ?? 2 questions: why there are no Dax-Ger30 quotes today? I know there is dax40 but other brokers somehow quote without problems.
Quoting dariko
Another month has passed for my live evaluation account and more problems with the payout. I wrote an e-mail to billing with a request to pay the profit to my bank account to which I was paid in the previous month without any problems, the answer was: Crypto Wallet Needed! Why does the MFF keep making payouts difficult (see # post 110)? Do I always have to make enough noise to get another payout (see # 113 and 114) ?? 2 questions: why there are no Dax-Ger30 quotes today? I know there is dax40 but other brokers somehow quote without problems.
Hi Dariko,

Thank you for the feedback, we always welcome constructive criticism. We have resolved the DAX issue, there was a slight issue today as the DAX added 10 more shares to the index today and it created a few liquidity matters that had to be resolved and took a little longer than expected.

In regards to your payout, we need to know your account number (if you can DM it to me please) so we can check what happened here. At one point we were doing enhanced due diligence with our wire provider and it was delaying outgoing wires and we were requesting other options but if the message was as you say "Crypto wallet needed!" then someone in our billing department didn't do a very good job and we would love to rectify that.
Dm me some details and lets get this sorted out.
DAX should be operating as normal now.

Sincerely,
Yavuz Karadeniz
Trader Support Lead
www.myforexfunds.com
[quote=MyForexFunds;13713224]{quote} Cześć Dariko, Dziękuję za opinie, zawsze z zadowoleniem przyjmujemy konstruktywną krytykę. Rozwiązaliśmy problem z DAXem, pojawił się dzisiaj niewielki problem, ponieważ DAX dodał dziś do indeksu 10 akcji więcej i stworzył kilka spraw związanych z płynnością, które musiały zostać rozwiązane i zajęły nieco więcej czasu niż oczekiwano. Jeśli chodzi o twoją wypłatę, musimy znać numer twojego konta (jeśli możesz mi go wysłać e-mailem), abyśmy mogli sprawdzić, co się tutaj stało. W pewnym momencie przeprowadzaliśmy wzmożoną analizę due diligence z naszym dostawcą usług kablowych, co opóźniało wychodzące przewody i prosiliśmy o inne opcje, ale jeśli wiadomość była taka, jak mówisz „Potrzebny portfel krypto!” wtedy ktoś z naszego działu rozliczeń nie wykonał zbyt dobrej pracy i chcielibyśmy to naprawić. Podaj mi kilka szczegółów i załatwmy to. DAX powinien teraz działać normalnie. Z poważaniem, kierownik wsparcia handlowego Yavuz Karadenizwww.myforexfunds.com [/wycena]
What e-mail to send to? I gave the number in a private message on the forex factory forum
Quoting dariko
Quoting MyForexFunds
{quote} Cześć Dariko, Dziękuję za opinie, zawsze z zadowoleniem przyjmujemy konstruktywną krytykę. Rozwiązaliśmy problem z DAXem, pojawił się dzisiaj niewielki problem, ponieważ DAX dodał dziś do indeksu 10 akcji więcej i stworzył kilka spraw związanych z płynnością, które musiały zostać rozwiązane i zajęły nieco więcej czasu niż oczekiwano. Jeśli chodzi o twoją wypłatę,
...
Hello dariko,

I got your private message from here and forwarded it to our backend team to investigate what happened with your payment. You can ask my email address from our website live chat or you can send a DM to me from discord. Discord invite link is below

https://discord.gg/MdD2bFRh

Sincerely,
Yavuz Karadeniz
Trader Support Lead
www.myforexfunds.com
Hi.

I recently spoke with MFF support regarding the possibility of increasing trader profit-split on accelerated accounts, but was told that this would not be happening. However, in one of Josh's recent youtube videos, he mentioned that this was being discussed internally, and would likely occur once a trader scales up to level 5.

That being said, can you confirm whether or not this plan has been abandoned?

Thanks.
Quoting Nsak3y
Hi. I recently spoke with MFF support regarding the possibility of increasing trader profit-split on accelerated accounts, but was told that this would not be happening. However, in one of Josh's recent youtube videos, he mentioned that this was being discussed internally, and would likely occur once a trader scales up to level 5. That being said, can you confirm whether or not this plan has been abandoned? Thanks.
Hello Nsak3y,

Its still being discussed but it is highly likely to change around November.

Sincerely,
Yavuz
Thank you, Yavuz. Glad to hear it.
  • Post #130
  • Quote
  • Edited at 4:53pm Sep 22, 2021 8:11am | Edited at 4:53pm
Hello, My Forex Funds and Forex Factory community.

I am writing this as the collaboration between me and Forex Funds has gone downhill, hard, and I am only at the second payout, a larger one, which to these day I have not yet received. At the moment I think their personnel really needs some training on the job and also they really should hire more people. The way they manage their relationship with traders is very disappointing also.

I am on Rapid model, second payout, should have received Friday or some days later a payout of 235.08 USD, to these day, did not happen, so 5 days have past.
The first payout took 10 days. I use TransferWise as they do. I checked with Wise, the money was sent literally after 7 days the first time. After that scenario, I was promised that they will send each time in 48 hours tops. To everything I write here I will provide proof.

Now, my problem is this, to which I will attach all emails between me and them. Firstly, please let's observe their rules, as stated on their website :

1. Consistency rule
Attached Image (click to enlarge)
Click to Enlarge Name: b9c59d2a9f8afc6ec96c1b6e39fcf610.png Size: 84 KB

2. Closing orders before payment on rapid account
Attached Image (click to enlarge)
Click to Enlarge Name: 878310968ed3c17ad71f369ff3d70c5e.png Size: 28 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 1e5af6027142c6751b0bc060210e2052.png Size: 132 KB

Conclusion : There is no such rule of closing orders on rapid account, only on accelerated. It is clearly specified. Moreover, I have been paid on my first payout with orders being opened. Also I have plenty of colleagues on FX Prop Firms group that have never been asked to close their positions in order to get paid. They always got paid from balance, I cannot even understand what is the problem.
Example : I have 12k balance and 9k equity, what's the difference in me being paid for the 12k balance on Friday and on Monday hitting a loss of 3k bringing my balance to 9k and the following week not getting paid, isn't it the same ? The only real difference is that for most professional traders this scenario ends up in profit, that drawdown will eventually go back to profit or even out, and true prop firm will never have a problem to pay a profitable trader and allow to hold his positions. And guess what, for it wasn't even the case, as I usually build equity not drawdown and had equity above balance anyway.

To sustain this, now please observe my balance and equity on MFF graph from beginning :
Attached Image (click to enlarge)
Click to Enlarge Name: 60661e89f2f8151d548865879f519edc.png Size: 96 KB

Very steady and nice right ? Already up 25% in 4 weeks. And I say 25% because I really trade with 10k (that being max loss allowed), not 100k. So basically that 2.5% on 100k is 25% on the real 10k allowed max loss. Now let's check the drawdown :
Attached Image

Just 0.66% !

Ok, now please observe what happened when I requested my payout, what their support told me, not to mention the waiting time is terrible.
Attached Image (click to enlarge)
Click to Enlarge Name: 03ccfa7571aa6664cb49e430c94024b1.png Size: 72 KB

Even on his excel, I actually did not violate anything, I am within all CEA KPI's, as per MFF rules stated above !
Let's move on :
Attached Image (click to enlarge)
Click to Enlarge Name: dcb7bbe3d5b43b921785eeda883100e6.png Size: 103 KB

Notice what I write and what he replies...
Attached Image (click to enlarge)
Click to Enlarge Name: c15b15ef471a80484dc143bdea6da123.png Size: 45 KB

Moving on, here I sent by mistake my personal account log, which this as well is within that KPI's, on my MFF account, I am more that well within those, I will upload at the end of the post :
Attached Image (click to enlarge)
Click to Enlarge Name: 9c9a391d94e1c4f9a204403db58344a6.png Size: 284 KB


After 3 days of waiting :
Attached Image (click to enlarge)
Click to Enlarge Name: d4066451acda562355af10590eccc07e.png Size: 46 KB
Living the way my older self would have wished for my younger self. RazvanI
Continuing, my reply :
Attached Image (click to enlarge)
Click to Enlarge Name: 5c92e13bb174969ea4a157ad4f5fa860.png Size: 92 KB

And now, my MFF account with that 2 weeks with all KPI's calculated, as per their rules :
Attached Image (click to enlarge)
Click to Enlarge Name: fc94dc8ba6903ff9d7c5e0e0d43adae6.png Size: 33 KB

6 - 10 september, 52 trades, 8.37 lots
52 divided by 5 days = 10.4 trades on average
8.37 divided by 5 = 1.67 lots on average

The following week :
Attached Image (click to enlarge)
Click to Enlarge Name: 822a68e9d6602ed6e4c150913a31dfe6.png Size: 24 KB
13 - 17 septemeber, 27 trades, 4.25 lots
27 divided by 5 = 5.4 trades on average
4.25 divided by 5 = 0.85 lots on average

10.4 trades divided by 2 = 5.2 minimum allowed the following week, I have 5.4 trades, check.
1.67 divided by 2 = 0.83 minimum allowed, I have 0.85, check.

How I was not consistent ? How it is that even if I have no orders opened for more than 24 hours, I have not yet receive the payout ? And I am not even obliged to do so ?

MFF, with all pragmatism and seriosity, what it going on ?! This is extremely frustrating and nerve racking !
Living the way my older self would have wished for my younger self. RazvanI
Quoting Razvan.I
Hello, My Forex Funds and Forex Factory community. I am writing this as the collaboration between me and Forex Funds has gone downhill, hard, and I am only at the second payout, a larger one, which to these day I have not yet received. At the moment I think their personnel really needs some training on the job and also they really should hire more people. The way they manage their relationship with traders is very disappointing also. I am on Rapid model, second payout, should have received Friday or some days later a payout of 235.08 USD, to these...
Sorry Razvan ,
but all this casino for $ 235,08 dollars ?
2 mega-post only for this ?
After all it's only been 5 days.
And even if 10 go by, it's not the end of the world .
Relax , MFF seems a serious company and your precious money will come .
Quoting Razvan.I
Continuing, my reply : {image} And now, my MFF account with that 2 weeks with all KPI's calculated, as per their rules : {image} 6 - 10 september, 52 trades, 8.37 lots 52 divided by 5 days = 10.4 trades on average 8.37 divided by 5 = 1.67 lots on average The following week : {image}13 - 17 septemeber, 27 trades, 4.25 lots 27 divided by 5 = 5.4 trades on average 4.25 divided by 5 = 0.85 lots on average 10.4 trades divided by 2 = 5.2 minimum allowed the following week, I have 5.4 trades, check. 1.67 divided by 2 = 0.83 minimum allowed, I have 0.85,...
Do not panic my friend!
This is a company that did grow very fast cause of they honesty and transparency and is hiring constantly to keep up with the demand,
there will be hiccup's along the way.
I have been payed many times by them, so give them a little room, even if they are a little behind
Believe me they try VERY hard to keep us happy!
Those who don't believe in magic will never find it
Quoting PayTheBid
{quote} Do not panic my friend! This is a company that di grow very fast and is hiring constantly to keep up with the demand, there will be hiccup's along the way. I have been payed many times by them, so give them a little room, even if they are a little behind
Agreed. I have several payouts as well. All processed within 24 hours and money in my account within 48. I have always found when folks are complaining about payouts, there is always an ENTIRE OTHER SIDE of the story. Error putting in payment info, violated a rule, etc, etc. I love this company.
Hi MFF
I am interested but I wonder if the trading conditions on Indices will be improved sometime soon. The spread on Dow is more then double that of FTMO and DAX is not open 24 hours a day unlike your competitors
Quoting Razvan.I
There is no such rule of closing orders on rapid account, only on accelerated.
-It is widely understood that positions should be closed when making a withdrawal request. Your open positions could eat up all of your balance.

Quoting Razvan.I
I cannot even understand what is the problem. I have 12k balance and 9k equity, what's the difference in me being paid for the 12k balance on Friday and on Monday hitting a loss of 3k bringing my balance to 9k and the following week not getting paid, isn't it the same ?
-The problem is that you are asking to be paid on credit. It does not and should not work that way.

In my opinion, MFF is one of the most credible prop firms available. I admit that some of their lower-level support are very unprofessional and frustrating to work with, but I have never experienced that with Yavuz Karadeniz, which posts here on FF. MFF is a new and growing company, so some delays should be expected, but I am confident that you will get paid.

Quoting Bizziebee
I am interested but I wonder if the trading conditions on Indices will be improved sometime soon. The spread on Dow is more then double that of FTMO and DAX is not open 24 hours a day unlike your competitors
-I completely agree that spreads on indices are not competitive and could be improved.
Quoting Razvan.I
Hello, My Forex Funds and Forex Factory community. I am writing this as the collaboration between me and Forex Funds has gone downhill, hard, and I am only at the second payout, a larger one, which to these day I have not yet received. At the moment I think their personnel really needs some training on the job and also they really should hire more people. The way they manage their relationship with traders is very disappointing also. I am on Rapid model, second payout, should have received Friday or some days later a payout of 235.08 USD, to these...

Not a fan of the rapid account but I did look at it before they had evaluations. Firstly, it looks like you broke the consistency rule. Secondly, why would anyone pay you if you have open equity? You coudl get paid then lose all the money from the get go. That part is just common sense.
I appreciate you guys trying to comfort me, but if what I wrote doesn't seem to bother you or raise a flag, especially on the rule side as it seems each has their own version of them, obviously you had a very different experience than mine, if so the case, or just have different views and expectancies, or most probably you have not put in the effort of reading all I wrote, so I will no repeat myself.

I am very curious how will each of you manage the day when this will happen to you or a similarity of it, like being told you have not been consistent when you have been, or have not been paid because you have positions opened, when earlier there was no problem, other are paid as well and all of the sudden comes this thing, amongst others. I learned in time to pay attention to details, maybe so should you. What happens now, generally indicates a very good outcome of the future collaboration.

Anyway, please don't reply further on this topic as I won't anyway, this will go most probably into flaming as most Forex Factory threads are prone to. This is solely intended for them, MFF staff and for others that want to see how the inside looks like and real life happenings.

With consideration.
Living the way my older self would have wished for my younger self. RazvanI
Quoting Razvan.I
I appreciate you guys trying to comfort me, but if what I wrote doesn't seem to bother you or raise a flag, especially on the rule side as it seems each has their own version of them, obviously you had a very different experience than mine, if so the case, or just have different views and expectancies, or most probably you have not put in the effort of reading all I wrote, so I will no repeat myself. I am very curious how will each of you manage the day when this will happen to you or a similarity of it, like being told you have not been consistent...

The inside looks like myself, Pipmaster, paythebid and hundreds of others getting paid because we obey the rules.. You broke the rule and then complain about it. Its typical of forums people come to forums instead of support to try to get a reaction to get what they want.
Quoting Takisd
{quote} Not a fan of the rapid account but I did look at it before they had evaluations. Firstly, it looks like you broke the consistency rule. Secondly, why would anyone pay you if you have open equity? You coudl get paid then lose all the money from the get go. That part is just common sense.
Oh my god, just omfg, nothing else.

And to think I even laid out the calculations and there are traders that cannot sum it up, LOL .

Also, positive equity, not negative. Why should I not be paid on positive equity and miss out on profit ?

What difference does it make if I have negative equity also ? It always evens out between pay cycles.

Moreover, ever read the rules ?

This is hilarious, how you came up with the broke consistency rule ? Tell us, please
Living the way my older self would have wished for my younger self. RazvanI
1 member viewing:
jamM32