MyFundedFX Review: Is it Scam?

myfundedfx
$N/A

Min Deposit

N/A

Regulation

Min Spread

1:100

Max Leve.

8

Broker Trust

Table of Contents

MyFundedFX suggests allows traders to trade without their money using different challenges and offering the leverage of 1:100. Among pros are high profit shares and various trading instruments; meanwhile, high program costs are considered cons. Founded by Matthew Leech, MyFundedFX emphasizes education and community support. With strong broker backup, the firm provides multiple funding programs and strict trading rules. For more about this company, including “MyFundedFX discount code,” you can visit their official page.

Pros and Cons of myfundedfx

Pros

  • Leverage up to 1:100
  • First Payout After 7 or 14 Days
  • Bi-weekly or Weekly Payouts (Depending on the Challenge)
  • Profit Share of 80% up to 92.75%
  • A Large Variety of Trading Instruments

Cons

  • High Costs of Funding Programs
  • Minimal First Maximum Deduction of 8% in a Two-Step Task
  • Following Down on a Single-Step Task

Introduction

In this blog, we introduce MyFundedFX, a different kind of trading platform where you can actually trade without your money being at risk. Matthew Leech founded MyFundedFX has been opening new challenges, educational support, and community resources with leverage up to 1:100 and high-profit shares. The platform is made to make traders powerful and has various funding programs with strict trading rules.

What is myfundedfx?

MyFundedFx home

MyFundedFX is a platform that offers traders the chance to trade without risking their own money. It starts with a trading challenge, followed by a verification phase, and ends with becoming a MyFundedFX-funded trader.

MyFundedFX has a worldwide community over social media platforms like Discord and YouTube.

They offer an ongoing support system, educational videos, promotional codes, and, on top of that, a dedicated space for traders to share knowledge and experiences. Don’t forget to check out “MyFundedFX discount code” for additional savings.

To get on the trading floor as a proprietary trader, you need to complete their evaluation program that incorporates four different account types. MyFundedFX, in conjunction with brokers BlueBerry Markets and ThinkMarkets, allows traders to trade live without investment from their own funds.

Origin of myfundedfx

MyFundedFX is an officially-registered business under the name of MyFunded Solutions, LLC. It is a proprietary trading firm located in Dallas, Texas, and was founded in June 2022. This company is under the leadership of CEO Matthew Leech. The company offers five types of accounts with various evaluation steps: two two-step accounts, two one-step accounts, and one three-step account. MyFundedFX partners with brokers such as Zenfinex, Purple Trading Seychelles, and Quality FX Ltd to offer the services. The address of the firm is 100 Crescent Court, Suite 700, Dallas, TX 75201, United States.

Who is the CEO of myfundedfx?

Ceo of MyFundedFx

Matthew Leech, the founder and CEO of MyFundedFX, is a successful entrepreneur in finance and tech. He also began trading experience with forex, options, stocks, and cryptocurrencies in 2018. Matt established MyFundedFX to fill the gap in the industry by mainly focusing on the individual trader needs rather than just developing programs. His mission is to educate traders in order to help them become funded. Matt and his team do this by developing the skills needed for a trader to become funded.

Myfundedfx: is it real or fake?

We have thoroughly analyzed MyFundedFX and have not noticed any signs that it may be involved in a scam. however, it should be considered that many Prop Trading Firms are not regulated, which complicates understanding of their operations.

Our advice is to learn all about Prop Trading, understand what it involves and the risks you may have, and choose a reputable and experienced firm. Although you pay subscription fees, as opposed to trading with your money, potential financial losses are usually lower than when trading with your capital.

MYFUNDEDFX LLC
Texas Taxpayer Number 32085570607
Mailing Address
2112 BOLL ST APT 233 DALLAS, TX
Right to Transact Business in Texas ACTIVE
State of Formation TX
Effective SOS Registration Date 07/25/2022
Texas SOS File Number 0804658937
Registered Agent Name
UNITED STATES CORPORATION
AGENTS, INC.
Registered Office Street Address
9900 SPECTRUM DR AUSTIN, TX
78717

MyFundedFx Funding Programs

MyFundedFX provides five different options for funding programs:

  • Two-step Challenge
  • Two-step Max Challenge
  • One-step Challenge
  • One-step Max Challenge
  • Three-step Challenge

Two-step Challenge

Two-step Challenge in MyFundedFX

The Two-step Challenge in MyFundedFX has account management starting from $5,000 up to $300,000. The challenge is set in the two-step evaluation to find skilled traders who can make profits and handle risks well. The whole concept of the challenge allows trading with leverage of up to 1:100.

Two Step Challenge Trading Rules & Goals

Profit Target—Traders must achieve a set percentage of profit to successfully pass an evaluation phase, withdraw income, or grow their account. In phase 1, the target is 8%, and in phase 2, 5%. Funded accounts do not have profit targets.

Maximum Daily Loss—A trader may lose no more than 5% of his account in one day, but this can be increased to 8%.

Maximum Loss—Traders cannot lose more than 8% of their account overall, which can increase to 14%.

No News Trading – You are not allowed to trade during high-impact news. You cannot open or close trades with the said instrument 3 minutes prior and after the news. This only goes for funded accounts.

Two-step Max Challenge

Two-step Max Challenge in MyFundedFX

MyFundedFX’s Two-step Max Challenge enables account management from $5,000 to $200,000. The objective of it is to identify skillful traders who can make profits and manage risks well during the two-step evaluation. In Phase 1, you can trade with up to 1:50 leverage and, in Phase 2 and once funded, you can trade with up to 1:30 leverage.

Two-step Max Challenge Trading Goals & Rules

Profit Target – A specific percentage of profit that a trader needs to achieve to pass an evaluation phase, withdraw earnings, or grow an account. Phase 1 is set at 10%, Phase 2 is at 5% and funded accounts have no profit target.

Maximum Daily Loss – Traders are not allowed to lose over 5% of their account in Phase 1 and 4% in Phase 2 and once funded on any trading day. This can be extended up to 8%.

Maximum loss – You can’t lose more than 10% of your account overall in phase 1, then 8% in phase 2, and once funded. This drawdown can be up to 14%.

No News Trading – Trading is not allowed during major news releases. You cannot open or close trades on the specified instrument within 3 minutes before and after the news. This rule only applies to funded accounts.

One-step Challenge

One step Challenge in MyFundedFX

The One-step Challenge from MyFundedFX is all about letting the trader manage accounts that range from $5,000 to $300,000. MyFundedFX looks for disciplined traders who can make profits and manage risks well over the course of one evaluation period. You can trade up to 1:100 leverage in the One-step Challenge.

One Step Challenge Trading Rules & Targets

Profit Target– Traders must achieve a designated profit percentage that will permit them to pass the Evaluation Step, to receive payouts, or to increase their account. The profit target in the Evaluation Step is 10%. Funded accounts have no profit target.

Maximum Daily Loss – Traders cannot lose more than 4% of their account in one trading day. This limit can increase to 6%.

Maximum Trailing Loss – The difference between the highest achieved account balance and the lowest point of the drawdown sets the maximum trailing loss. Traders can’t exceed a 6% trailing loss. This limit can increase up to 12%.

No News Trading – Trading isn’t allowed during major news releases. You can’t start or close trades on the specified instrument within 3 minutes before and after the news. This rule applies only to funded accounts.

One-step Max Challenge

MyFundedFX's One-step Max Challenge

 

MyFundedFX’s One-step Max Challenge is a program that allows any trader to manage accounts from $5,000 to $200,000. It is aimed at finding disciplined traders who will be able to both make profits and manage risks well in a single evaluation period. In the One-step Max Challenge, you can trade with leverage up to 1:100.

Three-step Challenge

MyFundedFX's Three-step Challeng

MyFundedFX’s Three-step Challenge allows traders to handle accounts from $10,000 to $300,000. Its goal is to find skilled traders who can make profits and manage risks well during a three-step evaluation period. In the Three-step Challenge, you can trade with leverage up to 1:50.

Three Step Challenge Trading Rules & Objectives

Profit Target – Traders must achieve a specified profit percentage to the next evaluation round, to withdrawal any profits, or to increase their account. The profit objective for all three stages of the evaluation is 6%. Funded accounts have no profit objective.

Maximum Daily Loss – A trader shall not lose greater than 4% of their account on any one trading day.

Maximum Loss – A trader cannot suffer more than an 8% drawdown on their account in total.

No News Trading – It is prohibited to trade during substantial news releases. You cannot open or close trades on the mentioned instrument for 3 minutes before and after the news. This rule only applies to funded accounts.

myfundedfx login

You can easily log in with MyFundedFX using your email and password. For a smooth experience, remember to use “MyFundedFX login” as your keyword.

MyFundedFX log in

Conclusion

MyFundedFX is one of the complete platforms for traders who aspire to develop their skills and trade without risking their money. With the number of accounts and evaluation challenges, a trader is free to get the best account that aligns with their trading style and risk management ability. A firm with proper support, education resources, and community experience is the best option for both new and experienced traders. Program funding can be costly; however, with the potential of high leverage and profit share, plus regular payouts, it’s a very tempting opportunity. Do not forget to use “MyFundedFX discount code” for further savings.

FAQs

What is MyFundedFX?

MyFundedFX is a platform allowing traders to trade without their own money, starting with a trading challenge and verification phase, leading to becoming a funded trader.

Who founded and leads MyFundedFX?

MyFundedFX was founded by Matthew Leech, who is also the CEO.

What funding programs are available?

MyFundedFX offers five programs: Two-step Challenge, Two-step Max Challenge, One-step Challenge, One-step Max Challenge, and Three-step Challenge.

What leverage does MyFundedFX offer?

Leverage up to 1:100 is provided for most challenges.

What are the pros and cons of MyFundedFX?

Pros: high leverage, quick payouts, high profit share, variety of instruments. Cons: high program costs, specific deductions.

Are there trading restrictions during news releases?

Yes, no trading is allowed 3 minutes before and after high-impact news releases for funded accounts.

Is MyFundedFX legitimate?

Yes, it is officially registered as MyFunded Solutions, LLC, in Texas. However, many prop trading firms are not regulated, so research is advised.

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