Funded Trading Plus vs My Forex Funds
Navigating the world of funded trading? We’re breaking down two major players: Funded Trading Plus vs My Forex Funds. Get the lowdown on their offerings, benefits, and how they can fuel your trading journey. Whether you’re a newbie or a seasoned pro, find your fit here.
Funded Trading Plus Overview
Funded Trading Plus, an upgraded feature of Trade Room Plus, provides a compelling solution for retail traders seeking access to significant capital. Since its launch in 2013, Trade Room Plus has established itself as the UK’s leading live trade room for retail traders. What sets them apart is that they not only offer trading instruction but also actively trade for a living. Their extensive experience has helped numerous retail traders learn how to make a sustainable income through trading.
For many retail traders, the lack of access to substantial capital poses a significant challenge. Regardless of their understanding of sound financial management principles, a small initial investment often yields minimal returns. These traders may possess immense potential, but their financial limitations prevent them from showcasing their skills.
This is where Funded Trading Plus steps in. Their primary objective is to connect highly skilled traders with large pools of capital, benefiting both parties involved. To maximize potential earnings, Funded Trading Plus allows traders to start with accounts ranging from $200,000 to $2,500,000. Traders can choose between a single evaluation phase, two evaluation phases, or immediate funding. Upon successful completion of the evaluation, traders are entitled to receive up to 90% of the profit splits on their earnings.
My Forex Funds Overview
My Forex Funds operates under a similar framework as other prop firms we have reviewed. However, what sets them apart is their provision of three distinct levels or structures for funding traders based on their trading experience. This accommodates both novice and experienced traders, ensuring that individuals at various skill levels can benefit from their services.
My Forex Funds has quickly made a name for itself as a prominent player in the industry, funding over 180,000 traders within a short span of time. Despite being a relatively new entrant, they have gained popularity and established themselves as one of the leading prop firms. With a global presence of more than 300 employees and servicing over 2,000 customers daily,
Whether you are just starting your trading journey or have years of experience under your belt, My Forex Funds has tailored funding options to suit your needs. By catering to a diverse range of traders, they aim to provide opportunities for growth and success within the forex market.
Price
Funded Trading Plus offers different pricing options based on the trader’s experience level. For experienced traders in the single phase, prices range from $119 to $999. The advanced trader’s pricing in the two-phase program ranges from $199 to $999. As for master traders looking for instant funding without evaluation, prices range from $225.00 to $4,500.00.
On the other hand, My Forex Funds provides pricing structures tailored to traders at different levels of knowledge and experience. For traders with some knowledge in the rapid program, prices range from $99 to $749. Evaluation-based pricing for experienced traders ranges from $49 to $1,389. Traders who trade full-time for a living can choose between the conventional program, ranging from $99 to $2,450, and the emphatic program, ranging from $198 to $4,900.
Considering the price aspect, My Forex Funds offers more affordable options across their pricing ranges than Funded Trading Plus. With a focus on accommodating traders at different experience levels, My Forex Funds provides a range of pricing options that cater to various budgets. On the other hand, Funded Trading Plus offers pricing options based on experience levels, but the prices tend to be higher.
In conclusion, if affordability is a key factor for you, My Forex Funds is a more cost-effective choice due to its lower price points and accommodating pricing structures.
| Category | Funded Trading Plus | My Forex Funds |
|---|---|---|
| Price | Experienced Traders: $119 – $999 | Rapid: $99 – $749 |
| Advanced Traders: $199 – $999 | Evaluation: $49 – $1,389 | |
| Master Traders: $225 – $4,500 | Conventional: $99 – $2,450 | |
| Emphatic: $198 – $4,900 |
Winner: My Forex Funds
Capital
Funded Trading Plus offers different capital options based on the trader’s experience level. For experienced traders in the single phase, capital options range from $12,500 to $200,000. The advanced trader’s capital options in the two-phase program range from $25,000 to $200,000. Master traders seeking instant funding without evaluation can choose capital options ranging from $5,000 to $100,000.
On the other hand, My Forex Funds provides capital options tailored to traders at different levels of knowledge and experience. For traders with some knowledge in the rapid program, capital options range from $10,000 to $100,000. Evaluation-based capital options for experienced traders range from $5,000 to $300,000. Traders who trade full-time for a living can choose between the conventional program, with capital options ranging from $2,000 to $50,000, and the emphatic program, also with capital options ranging from $2,000 to $50,000.
Considering the capital aspect, My Forex Funds emerges as the winner in terms of larger capital availability. Their capital options generally provide traders with access to higher funds, ranging from $10,000 to $300,000, depending on their knowledge and experience level. In comparison, Funded Trading Plus offers capital options ranging from $5,000 to $200,000, which are relatively lower.
| Category | Funded Trading Plus | My Forex Funds |
|---|---|---|
| Capital | Experienced Traders: $12,500 – $200,000 | Rapid: $10,000 – $100,000 |
| Advanced Traders: $25,000 – $200,000 | Evaluation: $5,000 – $300,000 | |
| Master Traders: $5,000 – $100,000 | Conventional: $2,000 – $50,000 | |
| Emphatic: $2,000 – $50,000 |
Winner: My Forex Funds
Profit Split
Funded Trading Plus offers profit split ratios based on the trader’s experience level. For experienced traders in the single phase, the profit split ranges from 80% up to 90%. The profit split ratios for the advanced traders in the two-phase program also range from 80% up to 90%. Master traders seeking instant funding without evaluation can enjoy a profit split set at 70% up to 90%.
My Forex Funds provides profit split ratios tailored to traders at different levels of knowledge and experience. In the Rapid program, designed for traders with some knowledge, the profit split starts at 50% of profits in the first month, increases to 65% in the second month, and further rises to 80% from the third month onwards. The Evaluation program, catering to experienced traders, offers profit split ratios that can go up to 85%. Traders who trade full-time for a living can benefit from a fixed profit split ratio of 90% in both the Conventional and Emphatic programs.
When comparing the profit split ratios, both Funded Trading Plus and My Forex Funds offer attractive terms to traders. However, Funded Trading Plus provides a profit split range of 70% up to 90%, which is generally higher than the profit split ratios provided by My Forex Funds.
| Category | Funded Trading Plus | My Forex Funds |
|---|---|---|
| Profit Split | Experienced Traders: 80% – 90% | Rapid: 50% – 80% |
| Advanced Traders: 80% – 90% | Evaluation: Up to 85% | |
| Master Traders: 70% – 90% | Conventional: 90% | |
| Emphatic: 90% |
Winner: Funded Trading Plus
Platform
Both Funded Trading Plus and My Forex Funds utilize the widely recognized and popular trading platforms, MetaTrader 4 and MetaTrader 5. These platforms are well-established and widely used in the industry, offering a comprehensive range of tools and features for traders.
By using MetaTrader 4 and MetaTrader 5, both Funded Trading Plus and My Forex Funds provide traders with access to advanced charting capabilities, a wide range of technical indicators, and the ability to automate trading strategies using expert advisors. Traders can analyze market trends, execute trades, and manage their accounts efficiently using the user-friendly interfaces provided by these platforms.
| Category | Funded Trading Plus | My Forex Funds |
|---|---|---|
| Platform | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 |
Winner: Draw
Trading Instrument
Funded Trading Plus offers a diverse range of trading instruments, including Forex, indices, commodities, and cryptocurrencies, across all account types. Traders have the flexibility to participate in the foreign exchange market, trade popular stock market indices, engage in commodity trading, and take advantage of the growing popularity of cryptocurrencies.
Similarly, My Forex Funds allows traders to trade any instrument available. On the evaluation account, traders have access to Forex, CFDs (including index CFDs), and commodities like oil and metals. Additionally, crypto trading is available on weekdays.
In terms of the number of trading instruments offered, both Funded Trading Plus and My Forex Funds provide traders with a wide range of options. Depending on their trading preferences and strategies, traders can choose from various asset classes, including Forex, indices, commodities, and cryptocurrencies.
| Category | Funded Trading Plus | My Forex Funds |
|---|---|---|
| Trading Instrument | Forex, indices, commodities, cryptocurrencies | Forex, CFDs (including index CFDs), commodities, cryptocurrencies (weekdays only) |
Winner: Draw
Drawdown
In Funded Trading Plus, Experienced Traders have a daily drawdown limit of 3% and an overall drawdown limit of 6%. Similarly, Advanced Traders can tolerate a slightly higher daily drawdown of 5% and an overall drawdown of 10%. Master Traders, on the other hand, do not have a specified daily drawdown percentage, but their overall drawdown is limited to 5%.
In the case of My Forex Funds, Rapid traders face a daily drawdown limit of 5% and an overall drawdown limit of 12%. The Evaluation account follows the same drawdown limits as the Rapid account. As for the Accelerated account, the daily drawdown is not specified, but the overall drawdown stands at 5% for the Conventional option and 10% for the Emphatic option.
Considering the drawdown percentages, My Forex Funds provides a more flexible approach in terms of risk management.
| Category | Funded Trading Plus | My Forex Funds |
|---|---|---|
| Drawdown | Experienced Traders: Daily 3%, Overall 6% | Rapid: Daily 5%, Overall 12% |
| Advanced Traders: Daily 5%, Overall 10% | Evaluation: Daily 5%, Overall 12% | |
| Master Traders: No daily limit, Overall 5% | Conventional: Not specified, Overall 5% | |
| Emphatic: Not specified, Overall 10% |
Winner: My Forex Funds
Profit Target
When comparing the profit targets offered by Funded Trading Plus and My Forex Funds, we can analyze the assigned percentages for each account type.
Funded Trading Plus offers profit targets based on the following account types:
Experienced Traders have a profit target of 10%. The Advanced Traders follow a two-phase approach, with a profit target of 10% in Phase 1 and 5% in Phase 2. Master Traders maintain a consistent profit target of 5%.
On the other hand, My Forex Funds implements a different profit target structure:
Rapid traders do not have specific profit targets. Instead, they receive a fixed payment of 12% of their account’s profits. The Evaluation account operates in two phases. During Phase I (Evaluation Phase), the profit target is 8%; in Phase II (Establishment Phase), it decreases to 5%. Accelerated traders can choose between the Conventional option with a 10% profit target and the Emphatic option with a higher profit target of 20%.
Considering the profit targets, lower percentages are more favorable as they indicate less demanding profit goals. In this regard, Funded Trading Plus’s Master Trader account and the Evaluation Phase of My Forex Funds align with the winning condition of having lower profit targets.
| Category | Funded Trading Plus | My Forex Funds |
|---|---|---|
| Profit Target | Experienced Traders: 10% | Rapid: No specific target |
| Advanced Traders: Phase 1: 10%, Phase 2: 5% | Evaluation: Phase 1: 8%, Phase 2: 5% | |
| Master Traders: 5% | Conventional: 10% | |
| Emphatic: 20% |
Winner: Funded Trading Plus
Minimum Trading Days
Examining the minimum trading days required by Funded Trading Plus and My Forex Funds provides insights into their respective policies. Funded Trading Plus does not impose any minimum trading day requirements across all their account types.
On the other hand, My Forex Funds has varying minimum trading day specifications:
- Rapid traders are expected to trade at least 3 days per week to meet the minimum requirement.
- Evaluation account holders are required to engage in trading activities for a minimum of 5 days per week.
- Accelerated traders, however, are not subject to any minimum trading day obligations.
Considering the minimum trading days, the winning condition favors those with no minimum trading day requirements. In this regard, Funded Trading Plus emerges as the winner since it offers traders the flexibility to trade based on their own preferences and schedules.
| Category | Funded Trading Plus | My Forex Funds |
|---|---|---|
| Minimum Trading Days | No minimum requirement | Rapid: 3 days/week |
| Evaluation: 5 days/week |
Winner: Funded Trading Plus
Maximum Leverage
Analyzing the maximum leverage provided by Funded Trading Plus and My Forex Funds allows us to compare their offerings.Funded Trading Plus specifies a maximum leverage of 1:30 across all their account types.
In contrast, My Forex Funds offers varying maximum leverage ratios based on the account type:
- Rapid traders can enjoy a maximum leverage of 1:500.
- Evaluation account holders have a maximum leverage of 1:100.
- Accelerated traders have two options: Conventional, with a maximum leverage of 1:50, and Emphatic, with a maximum leverage of 1:100.
Considering the maximum leverage, the winning condition favors higher leverage ratios. In this case, My Forex Funds’ Rapid account, with a maximum leverage of 1:500, emerges as the winner.
| Category | Funded Trading Plus | My Forex Funds |
|---|---|---|
| Maximum Leverage | 1:30 | Rapid: 1:500 |
| Evaluation: 1:100 | ||
| Conventional: 1:50 | ||
| Emphatic: 1:100 |
Winner: My Forex Funds
Trading Period
Examining the trading period requirements of Funded Trading Plus and My Forex Funds provides insights into their respective policies. Funded Trading Plus does not impose any specific trading period requirements across all their account types. Traders have the flexibility to engage in trading activities without limitations on trading periods.
My Forex Funds offers different trading period specifications based on the account type:
- Rapid traders do not have any specific trading period requirements mentioned.
- Evaluation account holders are required to complete a 30-day trading period.
- Accelerated traders, on the other hand, do not have any specific trading period requirements mentioned.
Considering the trading period, the winning condition favors those with lesser or no trading period requirements. In this regard, Funded Trading Plus emerges as the winner since it allows traders the freedom to trade without any specified trading periods.
| Category | Funded Trading Plus | My Forex Funds |
|---|---|---|
| Trading Period | No | Rapid: No |
| Evaluation: 30-day | ||
| Conventional: No | ||
| Emphatic: No |
Winner: Funded Trading Plus
Scaling
Examining the scaling options provided by Funded Trading Plus and My Forex Funds sheds light on their respective approaches.
Funded Trading Plus offers scaling opportunities based on account size and profit requirements. For Experienced Traders, the scaling percentage is set at 10% for all funded account sizes. To progress to the next level, traders need to achieve the specified profit and maintain the required account balance.
The Advanced Trader program, on the other hand, follows a scaling percentage of 20% for funded account sizes starting from $25,000. Traders must meet the profit requirements and maintain the corresponding balance to advance to the next level.
Master Traders in the Funded Trading Plus program also have a scaling percentage of 10% across various account sizes. Similar to other account types, achieving the required profit and maintaining the designated balance is essential for scaling up.
In contrast, My Forex Funds offers scaling opportunities with different conditions for each account type:
- Rapid traders have the potential for scaling, although specific details are not mentioned.
- Evaluation account holders have the chance to increase their account size by 30% if they achieve a profit of 10% or more within a four-month period, with at least two profitable months.
- Accelerated traders have two options available: Conventional scaling at 10% or Emphatic scaling at 20%.
Considering the scaling aspect, the winning condition favors the option with a higher scaling value. In this regard, My Forex Funds emerges as the winner since it offers a scaling percentage of 30 % in evaluation account.
| Category | Funded Trading Plus | My Forex Funds |
|---|---|---|
| Scaling | Experienced Traders: Scaling percentage of 10% for all funded account sizes | Rapid traders: Potential scaling, specific details not mentioned |
| Advanced Traders: Scaling percentage of 20% for funded account sizes starting from $25,000 | Evaluation account holders: Scaling percentage of 30% if profit requirements are met | |
| Master Traders: Scaling percentage of 10% for all funded account sizes | Accelerated traders (Conventional Scaling): Scaling percentage of 10% | |
| Accelerated traders (Emphatic Scaling): Scaling percentage of 20% |
Winner: My Forex Funds
Reset & Refundable Fees
In Funded Trading Plus, there is a reset fee available for those who fail an evaluation, which can be availed at a discounted price. The specific prices for programs and resets are subject to regular assessment and may change. Additionally, refundable fees are offered for the Experienced Trader and Advanced Trader Programs, where traders can request a refund once they achieve a 10% profit on their live account.
For My Forex Funds, the reset fee varies based on the account size and ranges from $44.00 to $1,250.00 for Evaluation Resets, and $64.35 to $599.20 for Rapid accounts with different funding levels. It’s important to note that the refundable fee option is available for Rapid and Evaluation accounts, but not for the Accelerated account.
In conclusion, the winner in terms of fees would be the option that offers a lower reset fee and provides a refundable fee option.
| Category | Funded Trading Plus | My Forex Funds |
|---|---|---|
| Reset Fees | Reset fee available for those who fail evaluation at a discounted price (specific prices subject to change) | Evaluation Resets: $44.00 to $1,250.00 based on account size |
| Refundable fees for Experienced Trader and Advanced Trader Programs (upon achieving 10% profit) | Rapid Accounts (different funding levels): $64.35 to $599.20 | |
| Refundable | Refundable fees available for Experienced Trader and Advanced Trader Programs | Refundable fees available for Rapid and Evaluation accounts (not for Accelerated account) |
Winner: My Forex Funds
Restrictions
Under the Funded Trading Plus program, there are different restrictions for each account type. Stop loss requirements vary, with no stop loss required for some accounts, but mandatory for others. Swap-free accounts are not available for any account type. Weekend holding of trades is permitted in some accounts, while it’s not allowed in others, with trades automatically closed before the weekend. Expert Advisors (EAs) are allowed for all account types.
In My Forex Funds, stop loss requirements are not mandatory for any account type. Swap-free accounts are available across all accounts. There are no restrictions on lot sizes, trading during major news events, or holding trades overnight. News trading, scalping, and various trading strategies are allowed on all accounts. The use of Expert Advisors is permitted, except for certain activities like account management services, copy trading of other signals, tick scalping, and arbitrage trading. Trade copiers can be used to copy one’s own trades, but copying others’ trades is considered a breach of account rules.
| Category | Funded Trading Plus | My Forex Funds |
|---|---|---|
| Restrictions | Stop Loss: Varies (no stop loss required for some accounts, mandatory for others) | Stop Loss: Not mandatory for any account type |
| Swap-free accounts: Not available for any account type | Swap-free accounts: Available across all accounts | |
| Weekend holding of trades: Permitted in some accounts, trades automatically closed before the weekend in others | Lot sizes, trading during major news events, holding trades overnight: No restrictions | |
| Expert Advisors (EAs): Allowed for all account types | Expert Advisors (EAs): Allowed, with restrictions for certain activities | |
| News trading, scalping, various trading strategies: Allowed on all accounts | ||
| Trade copiers: Can be used to copy one’s own trades, but not others’ trades |
Winner: My Forex Funds
In Conclusion
Both Funded Trading Plus and My Forex Funds offer compelling solutions for retail traders seeking access to significant capital and funding opportunities. While each platform has strengths and advantages, My Forex Funds is the more favorable choice overall.
My Forex Funds stands out with its tailored funding options that accommodate traders at different skill levels, providing opportunities for growth and success within the forex market. With a global presence, they have gained popularity and established themselves as a leading prop firm, funding over 180,000 traders.
Regarding pricing, My Forex Funds offers more affordable options across a range of pricing structures than Funded Trading Plus. Their pricing is designed to cater to various budgets and experience levels, making it a cost-effective choice for traders.
My Forex Funds also leads regarding capital availability, offering higher funding options ranging from $10,000 to $300,000, depending on the trader’s knowledge and experience level. This allows traders to access larger funds and maximize their trading potential.
While Funded Trading Plus offers higher profit split ratios ranging from 70% to 90%, My Forex Funds provides attractive profit targets, lower drawdown percentages, and flexible trading periods, contributing to a more favorable risk management approach.
Both platforms utilize the widely recognized MetaTrader 4 and MetaTrader 5 trading platforms, providing traders with advanced charting capabilities, technical indicators, and automation options.
Overall, My Forex Funds offers a comprehensive package that combines affordable pricing, higher capital availability, favorable profit targets and drawdown limits, and flexible trading options. It stands as the preferred choice for retail traders seeking access to significant capital and funding opportunities in the forex market.
