Introduction
Murtaza Kazmi launched My Forex Funds, a proprietary trading firm, in July 2020. He heads up the business as CEO. Their headquarters are in the Canadian city of Toronto. They provide low-capital traders with three account options, up to $2,020,000 in investment and the option to share profits at 90%. The Traders Global Group (TGG), a broker headquartered in Frankfurt, Germany, is assigned to them.
The traders at My Forex Funds are held to a high-performance standard. They expect their customers to be disciplined and skilled at risk management, and they place a premium on long-term security. They allow them to deal with $2,020,000 in cash with a 90% profit margin. You can trade cryptocurrencies, equities, commodities, and foreign exchange pairs to achieve this.
What Are My Forex Funds?
My Forex Funds is among the top prop trading firms in the industry. With over 300 support staff members and over 2,000 new traders joining every day, My Forex Funds is a clear frontrunner in the foreign exchange business. Traders are not limited to the foreign exchange market. They are also competent with commodities and CDFs, among other assets.
Therefore, what occurs?
Thanks to this company’s sponsored accounts, successful traders can use their knowledge without risking their capital. The company aims to empower traders to achieve financial independence and success.
My Forex Funds continue to grow even now. The company’s expansion into new arenas is motivated by a desire to aid various competitors.
How Does My Forex Funds Work?
Buyers at My Forex Funds have their pick of three distinct packages:
- Fast program account.
- Program evaluation account.
- Accelerated program accounts.
Fast program account:
My Forex Funds‘ fast program account gives traders three months to prove themselves before allowing them to trade with real money. One of the best features of the fast program account is that you still earn 12% in bonus profit incentives even when trading in a simulated environment.
Rapid plan accounts don’t make an effort to generate profit. With a 1:500 leverage, just 12% of your trading profits will be deposited into your account. Your priority should be to stick to the guidelines of losing no more than 5% per day and 12%. However, the sole requirement is three days a week of business hours.
Participants in the fast program can turn consistency on or off for their accounts. Continuity-free accounts must adhere to the maximum loss, daily maximum, and minimum number of trade days.
Accounts with consistency
Accounts with consistency are exempt from certain regulations that apply to accounts without consistency, but they must still consider their average number of trades and lot sizes. There is no strategy for expanding the number of accounts in fast-paced applications.
If your three-month trial period goes well and you are upgraded to a paid account, you will begin sharing in the profits at the rate of 50% beginning in the fourth month. After the first month, you’ll receive 65% of the profits; by the third month, you’ll receive 80%, and so on. In addition, the initial deposit will be refunded in full upon the first withdrawal from a funded account.
Accounts with the fast programmer can be used for trading in foreign exchange, commodities, equities, and cryptocurrency.
Program evaluation account:
The My Forex Funds evaluation method seeks to identify reliable and competent traders by recognizing their consistency over two testing phases. The leverage available in the evaluation project account is 1:100.
To pass the first evaluation, a trader must earn 8%, with no daily losses greater than 5% and no cumulative losses greater than 12%. You will have 30 calendar days from when your first job is posted to your evaluation account to meet your profit objective. In addition, you can’t move on to Stage 2 unless you’ve traded for at least five full trading days.
The second part of a trader’s performance review requires a 5% return with a 5% daily loss limit and a 12% loss cap. You will have 60 calendar days from when your first work is posted to your evaluation account to meet your profit goal. Before upgrading to a premium account, you must trade for at least five days for free. After completing the second phase, you will receive 2% of the earnings produced during the first phase for your efforts.
After passing both tests, you’ll be given a funded account to evaluate your minimum departure policy. A daily maximum loss of 5% and a monthly maximum loss of 12% are all you require. The initial deposit and subsequent payment will be made 30 calendar days after the account was opened and funds were deposited. You are required to make trades for a minimum of 10 calendar days throughout this period.
112% of the upfront price, plus 75% of the profit made on the funded account, plus an extra 4% from the phase two review, is what you may expect to get in your first payment. After the initial payment, subsequent payments will be made every two weeks. You will receive an 80% profit share in the second month and an 85% share in the third month.
Accelerated program accounts:
The last option available to you while using My Forex Funds is an Accelerated Account Program.
Traditional Stress
The maximum amount you can lose is governed by law, but daily loss limits are not. There are also no time constraints, minimum or maximum lot sizes, or standards regarding uniformity. With the accelerated account plan, your weekly payout is not contingent on your level of success.
You can skip the trial period and get directly to trading with a standard accelerated program account and earning profit splits. If you use a 1:50 leverage in your trades, your profits will be divided in half.
Account Scaling
Before you may scale your account, the only thing left to do is reach your profit objective of 10%. Once per pay period, you can adjust your account balance. Remember that making withdrawals from your account will not slow its growth. You can scale your account if your overall profits reach 10%.
If you sign up for the emphatic rapid program account, you can bypass the demo phase and begin trading with real funds immediately. You will be cut off from the money made. One hundred-to-one trading leverage results in a 50/50 split of profits.
Your account will be upgraded once you hit a 20% profit threshold. Once per pay period, you can adjust your account balance. Remember that making withdrawals from your account will not slow its growth. To scale your account, you must achieve an overall 20% profit.
Conclusion:
They expect their customers to be disciplined and skilled at risk management, and they place a premium on long-term security. They allow them to deal with $2,020,000 in cash with a 90% profit margin. You can trade cryptocurrencies, equities, commodities, and foreign exchange pairs to achieve this.
Read more : https://bitcryptoforex.com/forex/forex-god-ruling-the-financial-markets/
