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My Forex Funds - Discussion/Q&A

  • #401
  • Feb 21, 2022 12:14am Feb 21, 2022 12:14am
Quoting maahome
MFF, I can now state that the free reset button has appeared and I have received new details. What I do notice is that the hard breach notice is still in play - that may be something the techs need to look into. This is what shows after clicking the reset button: {image} Regards maahome
that's why i don't see MFF as a safe friendly business.
why one need to fight to get his rights while the mistake isn't from his side.
why even such a mistake happens.!?
MFF is not Stable. I don't think their employees have the required competence to run this business .
  • #402
  • Feb 21, 2022 2:14am Feb 21, 2022 2:14am
Quoting maahome
MFF, I can now state that the free reset button has appeared and I have received new details. What I do notice is that the hard breach notice is still in play - that may be something the techs need to look into. This is what shows after clicking the reset button: {image} Regards maahome
This is a normal notification mate, I had this aswell.

It just means that you went over 30 days which is one if the evaluation rules, but doesnt affect your free reset.
  • #403
  • Feb 21, 2022 2:20am Feb 21, 2022 2:20am
Quoting Paulscaff1
{quote} This is a normal notification mate, I had this aswell. It just means that you went over 30 days which is one if the evaluation rules, but doesnt affect your free reset.
That is the whole point I am making, I didn't go over the 30 days see Post 399
I believe the issue is that the back office "reads" the data the following day and takes that as a breach. I think it would be much less stress if the system didn't issue notices that were incorrect

cheers
maahome
  • #404
  • Feb 21, 2022 2:45am Feb 21, 2022 2:45am
Quoting maahome
{quote} That is the whole point I am making, I didn't go over the 30 days see Post 399 I believe the issue is that the back office "reads" the data the following day and takes that as a breach. I think it would be much less stress if the system didn't issue notices that were incorrect cheers maahome
Yeah i know what you mean, I shat myself the first time I saw it aswell
  • #405
  • Feb 28, 2022 1:10am Feb 28, 2022 1:10am
Hi Guys,

Can someone tell me what the maximum lot size is for gold with MFF - is it relevant to account size, is it different for the different programs Eval Rapid etc? I know I saw it somewhere but I just can't find it. Any help appreciated.

maahome
  • #406
  • Mar 2, 2022 11:18pm Mar 2, 2022 11:18pm
Quoting maahome
Hi Guys, Can someone tell me what the maximum lot size is for gold with MFF - is it relevant to account size, is it different for the different programs Eval Rapid etc? I know I saw it somewhere but I just can't find it. Any help appreciated. maahome
anyone??
  • #407
  • Mar 3, 2022 5:32am Mar 3, 2022 5:32am
Quoting maahome
{quote} anyone??
Try asking your question on their Discord channel. Go to their webpage, and click on the Discord icon - bottom left-hand corner.

As I far as I can remember, the limit (if you're trading on the demo platform) depends entirely on how much margin you have available. Around $5000 for every 10 lots.

Once you get to funded stage there may be limits because I doubt if you would be allowed to trade 100 lots.
  • #408
  • Mar 3, 2022 6:50am Mar 3, 2022 6:50am
I've found out that MFF trading conditions have definitely improved. DAX is now open 24/7. Used to be closed overnight and so created a big gap on some days plus it messes up one's moving average settings!
  • #409
  • Mar 3, 2022 3:27pm Mar 3, 2022 3:27pm
i have 1 question, if my 1 pending trade has no stop loss will it be counted as a violation?
  • #410
  • Mar 3, 2022 6:46pm Mar 3, 2022 6:46pm
Quoting Mtinifx
{quote} Try asking your question on their Discord channel. Go to their webpage, and click on the Discord icon - bottom left-hand corner. As I far as I can remember, the limit (if you're trading on the demo platform) depends entirely on how much margin you have available. Around $5000 for every 10 lots. Once you get to funded stage there may be limits because I doubt if you would be allowed to trade 100 lots.
Thanks for the reply - I know I read somewhere it was 10 lots - maybe that is the live accounts. Hopefully someone from MFF will reply. have tried Discord a number of times with queries and never get a response. Waste of time really.


Thanks again
maahome
  • #411
  • Mar 14, 2022 10:39am Mar 14, 2022 10:39am
Quoting maahome
{quote} Thanks for the reply - I know I read somewhere it was 10 lots - maybe that is the live accounts. Hopefully someone from MFF will reply. have tried Discord a number of times with queries and never get a response. Waste of time really. Thanks again maahome
Hello maahome,

We don't have a max lot size limits for accounts. Our server has max 30 lots/position rule but you will be able to open multiple 30 lots if you need more volume in that trade. However, the max lot size you can open completely depends on your account size and available margin.

Sincerely,
Yavuz
  • #412
  • Edited 2:30pm Mar 14, 2022 1:45pm | Edited 2:30pm
Hello MFF

Payout date due 25th Feb , account Rapid NCA 100k, no violations and in profit.

I hate to have air my issues in public but since I'm getting nowhere hopefully this will get sorted, I have asked billing to escalate my complaint but as yet, nothing apart from another rejection email and accusation that I haven't requested a payout on my due date (25th Feb).

Please see below the timeline and let me know if you need any further information, hopefully this info should suffice to sort it:

Attached Image (click to enlarge)
Click to Enlarge Name: MFF Payout Request.PNG Size: 56 KB

  1. 6/02/2022 Request that my dashboard is updated after been told to process a second payment after dashboard button is activated and my balance equity put back into my trading account.

 

  1. 22/02/2022 Ticket number 542611

Requesting update and assurance that my dashboard payout request will be working on the 25th Feb for my payout date.

 

  1. 25/02/2022 Billing requesting payment and quoting ticket number 601498

  1. 25/02/2022 Support request stating that my dashboard payout button is inactive

 

  1. 28/02/2022 Follow up email to support about NO REPLY from Billing and my payout request

  1. 01/03/2022 Another follow up email to support. Support say they will contact Billing directly

  1. 07/03/2022 Discord support from Connor and another support ticket 630514 emailed both support and Billing together for a reply.

  1. 08/03/2022 Discord again and Connor cannot see my emails to Billing?

  1. 08/03/2022 New email sent to Billing and confirmed by Connor on Discord that he can see it.

  1. 12/03/2022 Finally Billing contact me and I confirm my Deel details

  1. 13/03/2022 REJECTED payment by Billing as it is not my payout date (25th Feb remember?) and told to resubmit on 25th March

  1. 14/03/2022 Email sent to billing for clarification of the rejected payout and you have made a withdrawal from my trading account of the periods profit (2361.95)

  1. 14/03/2022 Just for fun you send me a second email informing me that my payout has been rejected


The time involved to try and get this sorted is definitely in marginal gain territory, and frankly this is more about principal than money.

I see a number of options:

 

  1. Hopefully you payout and reset my account with a new start date, issue my fee refund and allocate the 10K live account due as I have reached over 10% (I have also sent several emails asking for confirmation but NO reply as yet) and we can move on.
  2. I give in and you keep my fee.
  3. I give in and trade my account even though you have made a withdrawal, trade till 25th March and maybe you payout
  4. As above but you reinstate my trading equity 102361.95
  5. I contact my bank and issue a refund process for items not fit for purpose by the vendor

I look forward to getting something sorted, not sure what yet... ( I'd also like to add that I have been with MFF for about 7 months and this account is probably one of the longest you've had on your books to date, I have worked with you through numerous support issues but this one is a mindbender).

Thanks

  • #413
  • Mar 14, 2022 7:46pm Mar 14, 2022 7:46pm
Quoting MyForexFunds
{quote} Hello maahome, We don't have a max lot size limits for accounts. Our server has max 30 lots/position rule but you will be able to open multiple 30 lots if you need more volume in that trade. However, the max lot size you can open completely depends on your account size and available margin. Sincerely, Yavuz
Thank you for the response Yavuz.
  • #414
  • Mar 15, 2022 2:24am Mar 15, 2022 2:24am
Hello MFF/Yavuz.

I bought a 200K account from MFF. I passed the phase 1 and 2 evaluations and went live. I decided to be patient, and take some risk off the table so for the first 30 days, I traded small lots, made 79 cents in profits split so that I could recoup my fees and not have any mental pressure going forward.

I got an "It's Payout Time!" email from MFF on Sunday 6th March 2022 after trading 30 days on the brand new live 200K account.

I requested a payout to my deel account on Monday 7th of March. I should have a 4% refund of phase 2 profits, and 112% refund of the fee; along with a 79 cent profit split.

I got an email from MFF on the same day saying the payout request had been processed and that I'd receive payout confirmation within 24-72 business hours. I waited from Monday till Friday the 11th, when I sent an email to billing that I hadn't received payment yet, as well as leaving a message on the chat offline email system; both acknowledged receipt.

To make sure my case was not ignored, I got to speak to live chat yesterday Monday 14th of March. Then the support agent said I was arbitrage latency trading WITHIN ONE ACCOUNT???!!!! and so my payment was denied. I said that was ludicrous. I didn't latency trade (whatever that is) and besides, it is IMPOSSIBLE to arbitrage trade within one account! I only have one account with MFF...and for what? 79 cents???

She said she would get billing to get back to me within 24 hours...
  • #415
  • Mar 15, 2022 2:35am Mar 15, 2022 2:35am
I got the ludicrous email below from billing -

Hi,
Your account was flagged for latency arbitrage violation. As you can see in our rules, we do not allow any EAs which run with latency arbitrage trading, hence, you will no longer be able to trade or receive any payouts due to your illegal practices.
Thank You!
Regards,
Elsa H
My Forex Funds - Billing Team
www.myforexfunds.com

Firstly, I did not latency arbitrage trade!

Secondly, MY ENTRIES WERE MANUAL ENTRIES!!!

Thirdly, I had to chase you down after one week before getting this kind of response; after your company sent me mails saying my payments had been processed and I would receive it in 24 to 72 hours??? This is BAD SERVICE!

Please fix this situation immediately! I paid quite a lot of money for that account. Provide my refunds and my live account immediately! Thank you.

Account Number - 11991.
  • #416
  • Mar 15, 2022 3:58am Mar 15, 2022 3:58am
The drama has taken another turn!

I got on their discord to lay my complaint...Conor responded by saying I began arb trading AFTER I requested my payout and so my refunds and payout would be cancelled. The problem is that MFF staff don't know how the MT4 ordercloseby function works.

For instance, if you enter a position of BUY EURUSD 3 lots at 14:00, and wish to use ordercloseby to close your trades at 14:30 then you would:

1. Hedge with SELL EURUSD 3 lots at 14:30
2. Use the ordercloseby function to match both orders at 14:30
3. Realize the loss or profit at 14:30

The resulting MT4 statement would depict the 3 lots BUY EURUSD to have been entered at 14:30 and closed at 14:30 with the profit or loss reflected on the BUY order. The SELL EURUSD would be reflected as having 0.00 lots.

Odercloseby is a normal function of MT4, that can assist in closing many orders with a single order on the opposite side to prevent slippage.

Conor does not know or understand this, and accused me of cheating! Now I dont believe MFF replicated my live trades on their account, so the company doesn't have the benefit of seeing the situation unfold in live conditions, as the ordercloseby function works.

To add to the situation, the live account is currently in drawdown. Would I not profit if I was cheating???

At this point, I am furious!

Because, I did no such thing as arb trading!

Please Yavuz, I would rather settle this calmly, but I am prepared to defend myself...
  • #417
  • Mar 15, 2022 6:07am Mar 15, 2022 6:07am
To clarify on the example of closing by ordercloseby..

As a simple example, if you enter a position of BUY EURUSD 3 lots at 14:00, and wish to use ordercloseby to close your trades at 14:30 for a profit 300 then you would:

1. Hedge with SELL EURUSD 3 lots at 14:30
2. Use the ordercloseby function to match both orders at 14:30
3. Realize the profit of 300 at 14:30

The algo does steps 1 and 2 with the result of step 3.

The resulting MT4 statement would show the 3 lots SELL EURUSD to have been entered at 14:30 and closed at 14:30 with the profit of 300 reflected on the SELL EURUSD order at 14.30. The BUY EURUSD would be then be reflected as having 0.00 lots.

This is standard in how MT4 works for any account when closing orders with the function.

See an actual example case of this below..but with another firm..

I got short manually GBPJPY 20 lots at 136.407 (16th Sept 2020; 14:30:22); and then to exit at 16th Sept 2020; 14:38:00; the algo bought 2 orders of 10 lots each for a total of 20 lots. The algo matched the short 20 lot with the 2 long 10 lots using the closeby function to get flat. A simple, normal ordercloseby example.

Attached Image (click to enlarge)
Click to Enlarge Name: for MFF.jpg Size: 239 KB
  • #418
  • Mar 15, 2022 7:20am Mar 15, 2022 7:20am
Quoting rdmachine
The drama has taken another turn! I got on their discord to lay my complaint...Conor responded by saying I began arb trading AFTER I requested my payout and so my refunds and payout would be cancelled. The problem is that MFF staff don't know how the MT4 ordercloseby function works. For instance, if you enter a position of BUY EURUSD 3 lots at 14:00, and wish to use ordercloseby to close your trades at 14:30 then you would: 1. Hedge with SELL EURUSD 3 lots at 14:30 2. Use the ordercloseby function to match both orders at 14:30 3. Realize the loss...
Is that a script or EA that you're using? I don't see "ordercloseby" function?
  • #419
  • Mar 15, 2022 7:43am Mar 15, 2022 7:43am
Quoting Mtinifx
{quote} Is that a script or EA that you're using? I don't see "ordercloseby" function?
Its an algo
  • #420
  • Mar 15, 2022 7:45am Mar 15, 2022 7:45am
My posts are not reflected instantly yet, because I'm a junior member; so a mod approves before you see my replies
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