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My Forex Funds - Discussion/Q&A

  • #501
  • Dec 15, 2022 7:38am Dec 15, 2022 7:38am
Quoting zaldi19
{quote} Referring to number 4, does MFF has that automatic withdraw feature, if we are in profit?
Hello zaldi19,

Our dashboard has the feature that allows you to get your payout with a single button. Whenever the 'request payout' button is active, if you click it the process of the withdrawal will start immediately.

Sincerely,
Yavuz Karadeniz
Director - Customer Care
www.myforexfunds.com
  • #502
  • Dec 15, 2022 7:41am Dec 15, 2022 7:41am
Quoting zaldi19
I have a question about Evaluation Challenge payment, does the price is included with tax or there's another fee for tax? Or we have no eligibility to pay tax for those purchase/s
Hello Again zaldi19,

Sorry for double reply

You only have to pay the program fee's when you purchase. However, if you are planning to pay via crypto, please make sure that you account the network fee that your wallet provider charges you. Otherwise it will deduct from the amount and you will get an underpayment notification.

Sincerely,
Yavuz Karadeniz
Director - Customer Care
www.myforexfunds.com
  • #503
  • Dec 15, 2022 7:46am Dec 15, 2022 7:46am
Quoting DonFF
{quote} I like the general thrust behind your service I have used your service before Areas for improvement.... 1 - Balancing your rules so it doesn't appear to be such a cash grab if a position exceeds the loss limit by a few cents! Where all the traders investment just disappear due to rigid cash/subscription grabbing rules 2 - Use more realistic leverage to actually help traders!
Hello DonFF,

Our drawdown rule is %5 but the system catches you if you exceed %5.01 we made it that way to help you out with the few cents violations. However, as a professional trader, you shouldn't go near 5% during a day because there might be extreme cases like slippage or spread widenings due to the live market conditions. We advise our traders to stop if there is a 4% loss in a day to make sure you don't violate the daily drawdown rules.

The leverage in our evaluation accounts is 1:100 which is decent enough to trade whatever lot size you would like to trade as a professional trader.

Sincerely,
Yavuz Karadeniz
Director - Customer Care
www.myforexfunds.com
  • #504
  • Dec 15, 2022 2:49pm Dec 15, 2022 2:49pm
For Accelerated account you have this in rule #07:
"We allow expert adviser to copying purposes only.
Any EA/Robots being used on the account otherwise will cause a breach in contract and loss of account. Unfortunately, this is necessary to prevent changes to the liquidity pool and unforeseen changes in spreads, margins and etc. We do plan on offering an automated trading option in the near future. Users’ are welcome to copy trades of their own using a trade copier, however, users who are copying someone else’s trades will be considered in breach of their account."

Then in Rule #08 you state this:

"At My Forex Funds, we are looking for individual traders to grow with us long term. What this means is that we want YOU to be the trader. Its ok to learn your skills from other experts, however, use of signal bots or trade copiers of other traders will not be accepted. If we notice someone using these services, we will suspend their account. We can tell that this is happening by the magic number on the account."

I find this somewhat contradicting. Also, my EA uses pending orders and in most cases also TP/SL sent to the server. Would I be able to copy those over using my trade copier? I'm also having a hard time understanding how placing my EA on the MT4 terminal would make any difference to your liquidity pool or margins as the trade copier is an EA itself or do you mean some other type of trade copying system?
  • #505
  • Dec 16, 2022 5:20am Dec 16, 2022 5:20am
Quoting TraderTero
For Accelerated account you have this in rule #07: "We allow expert adviser to copying purposes only. Any EA/Robots being used on the account otherwise will cause a breach in contract and loss of account. Unfortunately, this is necessary to prevent changes to the liquidity pool and unforeseen changes in spreads, margins and etc. We do plan on offering an automated trading option in the near future. Users’ are welcome to copy trades of their own using a trade copier, however, users who are copying someone else’s trades will be considered in breach...
Hello TraderTero,

The rule states that you are allowed to use trade copier EA's only if you are copying from your accounts. If there is a copy trading service with decent number of traders, they basically open the same trades at the same prices which harms to our liquidity pool. If you are copying from your own account, you have nothing to worry about since it won't be a violation according to our rules.

So basically, the trades you are copying should come from you in the first place. It may be a Myforexfunds account or a personal account from a broker. Your account will be suspended only if your trades (a certain number of trades) are the same as other users' trades.

I hope this answers your question.

Sincerely,
Yavuz Karadeniz
Director - Customer Care
www.myforexfunds.com
  • #506
  • Dec 16, 2022 7:30am Dec 16, 2022 7:30am
Quoting MyForexFunds
{quote} Hello TraderTero, The rule states that you are allowed to use trade copier EA's only if you are copying from your accounts. If there is a copy trading service with decent number of traders, they basically open the same trades at the same prices which harms to our liquidity pool. If you are copying from your own account, you have nothing to worry about since it won't be a violation according to our rules. So basically, the trades you are copying should come from you in the first place. It may be a Myforexfunds account or a personal account...
Ok, so I would be allowed to place a local trade copier on my MFF MT4 terminal but not my EA? If so, could I get a MFF demo account with exactly the same feed as on my MFF trading account? If this is the case, I still don't understand why I would not be able to place my EA directly on my MFF trading account as a local copier is an EA.
Also, could I have the trade copier place the pending orders and stop losses? My EA is private so trades would be unique.
  • #507
  • Dec 19, 2022 10:15pm Dec 19, 2022 10:15pm
MFF,

So several of my family members trade. We often gather together and look for setups etc. We all have a little different style, some get out after 20 pips, some take the risk and hold for a long time, some use trailing stops etc etc. SL is different as well for the most part though just like most traders it is behind structure. If we enter these trades are we violating your rules that you cannot copy trade ideas? We currently use FTMO and are looking to add a few more of the reputable prop firms. So this is a group of like 10 people. Is that a problem? Are we going to get the hammer if we trade as a family. We are all profitable and a big reason is because we watch over each other. Talk through mistakes, and train together. Should we try MFF or is this not something you are looking for?

Looking for a good fit.
  • #508
  • Jan 4, 2023 4:46am Jan 4, 2023 4:46am
Quoting TraderTero
{quote} Ok, so I would be allowed to place a local trade copier on my MFF MT4 terminal but not my EA? If so, could I get a MFF demo account with exactly the same feed as on my MFF trading account? If this is the case, I still don't understand why I would not be able to place my EA directly on my MFF trading account as a local copier is an EA. Also, could I have the trade copier place the pending orders and stop losses? My EA is private so trades would be unique.
Hello TraderTero,

As I mentioned, if you are copying your own trades, you have nothing to worry about since it is allowed in the rules. You said that trades will be unique, it is okay for you to use a trade copier between your accounts.

I hope this answers your questions.

Sincerely,
Yavuz Karadeniz
Director - Customer Care
www.myforexfunds.com
  • #509
  • Jan 4, 2023 4:51am Jan 4, 2023 4:51am
Quoting DirtyNar
MFF, So several of my family members trade. We often gather together and look for setups etc. We all have a little different style, some get out after 20 pips, some take the risk and hold for a long time, some use trailing stops etc etc. SL is different as well for the most part though just like most traders it is behind structure. If we enter these trades are we violating your rules that you cannot copy trade ideas? We currently use FTMO and are looking to add a few more of the reputable prop firms. So this is a group of like 10 people. Is that...
Hello DirtyNar,

If you guys take the identical entries we will have to remove you as it is the same as if one person with massive capital takes the trades. Unfortunately, we won't be able to offer you a solution or make an exception for you.

Sincerely,
Yavuz Karadeniz
Director - Customer Care
www.myforexfunds.com
  • #510
  • Jan 28, 2023 3:18am Jan 28, 2023 3:18am
Hi, my first payment is 8 days late. Till now I still have not received the money. I have mailed many times to support but only received is waiting. wait for what when i have been trading at mff for more than 1 year to get this payout
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  • #511
  • Jan 29, 2023 3:02pm Jan 29, 2023 3:02pm
Quoting euTrader2888
Hi, my first payment is 8 days late. Till now I still have not received the money. I have mailed many times to support but only received is waiting. wait for what when i have been trading at mff for more than 1 year to get this payout {image}
Hello euTrader2888,

Thank you for alerting us of this, we believe it has now been rectified.

Recently we have been battling a large amount of fraud from your country of residence and unfortunately it created a delay in your payment.
You are all set, I can see that your payout is initiated from our end earlier today and you should get it soon if you haven't got it yet.

Sincerely,
Yavuz Karadeniz
Director - Customer Care
www.myforexfunds.com
  • #513
  • Jan 30, 2023 2:14am Jan 30, 2023 2:14am
Quoting euTrader2888
Hi, my first payment is 8 days late. Till now I still have not received the money. I have mailed many times to support but only received is waiting. wait for what when i have been trading at mff for more than 1 year to get this payout {image}
Hello euTrader2888, please let us know if everything is ok with the payment.
I want try MFF and I search for all good and real informations available.
Thank you.
Arkilian.
  • #514
  • Jan 30, 2023 7:16pm Jan 30, 2023 7:16pm
Myforexfunds was 10 days delay Payout.

I have been trading with a Live Evaluation account for a period of 100 days and have made several withdrawals. But this time it was 10 days late for payment and Myforexfunds has not paid me. I have sent a lot of mail to them but have not received payment yet.

They said they needed to check the account, but 10 days passed without payment. I've made it clear I'm not breaking the rules, not cheating, but haven't received my payment yet.

I am writing this review hoping Myforexfunds will pay me soon.
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Quantitative Trading
  • #515
  • Jan 31, 2023 10:03am Jan 31, 2023 10:03am
Quoting talentvn
Myforexfunds was 10 days delay Payout. I have been trading with a Live Evaluation account for a period of 100 days and have made several withdrawals. But this time it was 10 days late for payment and Myforexfunds has not paid me. I have sent a lot of mail to them but have not received payment yet. They said they needed to check the account, but 10 days passed without payment. I've made it clear I'm not breaking the rules, not cheating, but haven't received my payment yet. I am writing this review hoping Myforexfunds will pay me soon. {image}
Be veery careful.The more you become successful the later their cistomer response and payout.I have personnally experience this.My account got suspended after 4rd payout while being eligible for VIP status,payout due,scaling up and finally they refused to payout my share of the profits because i was accused of copying other traders!!!They could have warn a valuable traders before suspending account because there is no violations like drawdown daily or overall etc.Their action indicate that A successful traders is not valuable to them!
-CKB
  • #516
  • Jan 31, 2023 10:44am Jan 31, 2023 10:44am
Quoting mirrfx
They could have warn a valuable traders before suspending account because there is no violations like drawdown daily or overall etc.
-The way that this is worded seems questionable to me. Most people that are actually innocent, would not say that the firm 'could have' done something, such as to imply that the firm could have worked out some mutual resolution with you (or given you a second chance). If you were actually innocent, then you wouldn't care about getting warned, because there would be nothing to fix, right?
  • #517
  • Jan 31, 2023 11:00am Jan 31, 2023 11:00am
Quoting Nsak3y
{quote}-The way that this is worded seems questionable to me. Most people that are actually innocent, would not say that the firm 'could have' done something, such as to imply that the firm could have worked out some mutual resolution with you (or given you a second chance). If you were actually innocent, then you wouldn't care about getting warned, because there would be nothing to fix, right?
Yes,they could have warned to change strategy or such other similar actions beacause other firms like ftmo do it.you can live chat with ftmo to find out.If a trader doesnt violate drawdown rule,the prop firms does not lose a penny and so they should payout parts of the profit earned by the trader who they suspended!i think you are not experience enough in prop firm ways.i do
-CKB
  • #518
  • Jan 31, 2023 11:05am Jan 31, 2023 11:05am
Quoting Nsak3y
{quote}-The way that this is worded seems questionable to me. Most people that are actually innocent, would not say that the firm 'could have' done something, such as to imply that the firm could have worked out some mutual resolution with you (or given you a second chance). If you were actually innocent, then you wouldn't care about getting warned, because there would be nothing to fix, right?
Agree. If you trade by the rules, MFF is far and away the best firm out there.
  • #519
  • Jan 31, 2023 11:11am Jan 31, 2023 11:11am
Quoting mirrfx
Yes,they could have warned to change strategy or such other similar actions
-Why? If you are innocent, then why would you need to change anything?

Quoting mirrfx
If a trader doesnt violate drawdown rule,the prop firms does not lose a penny and so they should payout parts of the profit earned by the trader who they suspended!
-Not if the trader is in violation of a rule that is clearly defined. With this logic, traders that exploit data feeds or demo conditions in order to cheat the system should get partial payouts too, so long as they do not violate draw-down rules.
  • #520
  • Jan 31, 2023 11:22am Jan 31, 2023 11:22am
Quoting Nsak3y
{quote}-Why? If you are innocent, then why would you need to change anything? {quote}-Not if the trader is in violation of a rule that is clearly defined. With this logic, traders that exploit data feeds or demo conditions in order to cheat the system should get partial payouts too, so long as they do not violate draw-down rules.
they accused me of copy trades but i did not.so i am innocent.but how do you produced evidence that you are not copying?its difficult task.But for them its easy.They pull up comparison trades supposedly performed by other traders similar to my trades based on similar open time,close time and accused me i copy trades!
-CKB
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