There are three different funding programs offered by My Forex Funds. These are the Rapid program, the Evaluation program, and the Accelerated program. Each one offers different benefits and has unique requirements. Choosing the right one will depend on your level of experience and desired level of risk. If you have a financial goal and have a good grasp of the fundamentals of the forex market, the Rapid program may be the best choice for you.
My Forex Funds has three funding programs
My Forex Funds is a financial company based in Toronto, Canada. Founded in 2020, the company has grown to serve more than 80,000 traders from 150 countries. The company offers three funding programs to its clients. Each one is different from the others, but all three allow new traders to start with a real funded account. This way, they can avoid the risk and evaluation of other trading programs.
The accelerated account is MyForexFunds’ favorite, offering no evaluations or monthly fees and instant access to trading capital. However, it is more expensive than the challenge course. The $50,000 account costs almost twice as much as a conventional account, and it has doubled perimeters. It also requires a one-time refundable registration fee.
My Forex Funds also offers a traditional path to partnership with a forex funding platform. Its evaluation process requires you to achieve profit targets of 8% and 5% over two phases. By the end of this month, your account must be profitable at 85% of the negotiated profits. Lastly, My Forex Funds also has an upcoming forex academy, but it doesn’t yet offer any educational material.
Rapid program
My Forex Funds has launched a new Rapid program, which will enable traders to make profits on their demo account from day one. The Rapid program is designed for traders who are new to the market and do not have much experience. The account is funded instantly, allowing you to earn profits right away. It also features a performance challenge, with no daily drawdown limit, and a profit split of up to 85%.
The Rapid program works by starting a demo account with a small balance, but with a minimum balance of only two thousand dollars. This allows you to practice your trading skills and build a portfolio before committing to a live account. The program will also pay you every week if you meet certain criteria, and it will pay out every other day if you are profitable.
One of the best aspects of this program is the fact that it offers immediate funding, with no verification or monthly fees. This makes it the best way to boost your forex trading capital. While a normal account will take several weeks to become fully funded, an accelerated account is the most convenient and flexible option.
Evaluation program
My Forex Funds offers three different programs for beginners. There’s the rapid account, the evaluation account, and the accelerated account. All three programs have varying levels of difficulty. In the rapid account, you can begin earning right away. The downside is that you’ll have a 5% daily drawdown and a 12% overall drawdown. However, as you gain experience, you can trade more and your payout will increase.
The rapid account costs $99 for a $10,000 account. The evaluation program costs $84, and the accelerated program costs $979. Each program is different, and the costs can increase depending on the account size. You can even choose to skip the evaluation process entirely and start trading with a $100,000 account.
The evaluation program for My Forex Funds is designed for new traders who are new to the foreign exchange market. After the evaluation is completed, you will be asked to meet profit targets in two phases. The first phase requires you to reach 8% profit, and the second phase requires a 5% profit target. The last phase requires you to reach 85% profit within the month.
Accelerated program
The Accelerated program for My Forex Funds is for experienced traders who are ready to take on a higher risk. It allows participants to start trading with a real funded account immediately. It can be set up with a balance between $2,000 and $50,000. As you progress through the program, you can grow your funds up to $2,020,000, but you’ll pay more for the account.
The Scale-Up Program is another unique feature of My Forex Funds. This program gives traders access to a larger account amount than the standard demo account and offers industry-leading drawdown parameters. The program begins with a base amount that the trader will trade with and gradually increases the amount by two or 1.5x after each 10% profit or 20% profit. You can then trade with the full range of instruments on the MT4/5 platform.
The Accelerated accounts are easy to use and have a zero-daily withdrawal limit. The rules are also flexible, with no small gain or daily drawdown requirement. While these are the best options for those who want to start trading without a lot of hassle, they are not cheap. A $50,000 account costs over $4000, and the accelerated version of this program costs an additional $2000. Profit splits are 50/50 and are paid weekly. A accelerated program is a great option for those who want to boost their forex trading capital without taking a huge risk.
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