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FTMO Vs My Forex Funds (MFF)

Recently I’ve been thinking about the Prop Firm FTMO. Specifically, taking their trading challenge to get a funded account. Over the last few weeks, I’ve come across the Prop Firm for My Forex Funds (MFF)  and I’ve been doing some research. What I discovered was shocking. I’m going to compare My Forex Funds (MFF) and how they are to others.

Links to;        👉  My Forex Funds  👈           VS          👉  FTMO  👈                                       

Account Sizes

First and foremost, let’s contrast the various account sizes available with the Prop Firms with their challenges. For this comparison, I’m going to stick with US dollars because, while FTMO allows you to choose whether you want an account in dollars, euros, or Great British pounds, My Forex Funds (MFF) are only available in US dollars.

So we’ll stick with that for this comparison.

FTMO offer a $10,000 a $25,000 a $50,000 a $100,000 account, and a $200,000 account,

Forex Funds offer a $10,000 a $25,000 a $50,000 a $100,000 and a $200,000 account.

As a result, they are very similar to the packages that are available based on account size.

Challenge Costs

Let’s take a look at the costs associated with each of these challenges.

To begin, carrying out the $10,000 account challenge with FTMO will cost $184.

In comparison to My Forex Funds (MFF), which are $84 for their $10,000 there’s a $100 difference there where My Forex Funds (MFF) are significantly less expensive to complete the challenge.

Moving on to the $50,000 accounting challenge, FTMOs currently charge $407 for this challenge, compared to $299 for My Forex Funds (MFF).

Again, there is a significant difference in price as you move into the $100,000 accounts. FTMO is currently charging $637, whereas My Forex Funds (MFF) are charging $499.

Finally, FTMO charges $1,275 for the $200,000 account, compared to $979 for my Forex forms. So, as you can see, My Forex Funds (MFF) are significantly cheaper than FTMO for each of those account types to take the challenge upfront.

Now, I understand that some of you may not place a high value on the cost of these challenges because you have a strong belief in your trading abilities. On the other hand, for a lot of traders out there, that’s a lot of money to spend on those challenges, especially if they don’t go your way.

If you can save some money on those upfront costs, it can help not only to make it more accessible to take on these challenges, but it can also help with the emotional side of trading because you know you’re not having to pay out that much money upfront.

Challenge Rules Max Drawdown

So let’s get into the specifics of what you have to do with those challenges and the rules. First and foremost, consider the maximum drawdown.

With FTMO, we’re all pretty aware that we have a maximum drawdown of 10%, so if you hit a 10% drawdown on your account during the challenge, you’re done, and you’ve completed and failed the challenge.

My Forex Funds (MFF), on the other hand, have a maximum drawdown rate of 12%. As a result, it gives you a little more leeway, which may come in handy when completing the challenge.

Max Daily Drawdown

Moving on to daily drawdown, they are both the same. So, while both FTMO and My Forex Funds (MFF) offer a 5% maximum daily drawdown rate on their challenges, their profit targets differ slightly.

Profit Targets

As a result, the challenges themselves are divided into two stages.

The profit target for the first stage of FTMO is 10%. So, only when you reach 10% profit do you pass the challenge, as long as you don’t break the rules and have met the minimum trading days.

My Forex Funds (MFF), on the other hand, have lowered the profit target slightly and set it at 8%, making it that much more achievable.

The profit target for stage two of the challenge is set at 5% if you pass stage one and enter the evaluation stage for both FTMOs and My Forex Funds (MFF). So you get the lower-rate profit target for both of those in the evaluation phase.  

Trading Days

Let’s take a look at trading days now. To pass the challenge, you must trade for a minimum of 10 trading days in both FTMO and My Forex Funds (MFF). There are no minimum trading days with FTMO once you have your Live account.

Whereas with  My Forex Funds they carry over only for the first month of trading your Live account, you must still trade for a minimum of 10 trading days in the first month with Forex funds. However, after the first month in your Live account, they remove this restriction, and there are no restrictions on the number of trading days you have to trade.

Leverage

FTMO and My Forex Funds (MFF) now both provide a one-to-one leverage rate. In addition, FTMO has recently released a new program that is purely for swing trading but has a slightly lower leverage rate of 30:1 The various trading restrictions, on the other hand, can affect your trading style. And there are some restrictions on the standard account with FTMOs.

Trading Restrictions

So, first and foremost, there are restrictions on news and you are not permitted to hold any positions over the weekend for FTMO. Although there are no restrictions on their swing account, you must contend with lower leverage.

My Forex Funds (MFF), on the other hand, have no trading restrictions with their standard account, which can be a huge benefit to you.

Profit Splits

Now, FTMO offer a 70/30 profit split, which means you keep 70% of profits and they take 30% once you start trading live.

My Forex Funds (MFF) differ slightly in that they have a tiered profit split system. So, in month one of your live trading account with My Forex Funds (MFF), they will take a 25% profit cut, and you can keep the remaining 75%. This decreases as you continue trading live. So in month two, you keep 80% of the profits and My Forex Funds (MFF) take a 20% cut. And in month three, you keep 85 percent of the profits while my funds keep a 15 percent profit split, which will continue for the duration of your time with My Forex Funds (MFF).

Withdrawals

Now we’re comparing the different withdrawals between the two. You can withdraw money from your FTMO account once a month. Whereas with My Forex Funds (MFF), after a month of trading life, you can request that your trading profits be withdrawn bi-weekly. So it does have those additional advantages for withdrawing profits on a more regular basis. If this is something that interests you.

Refund Policy

Let us now compare the refund policy. So, after you have passed your challenge and obtained your Live account after the first month, FTMO will refund the amount you paid to complete it.

My Forex Funds (MFF) provide a little bit more. In addition to a full refund of the money, you paid to complete the challenge. MFF also provide an additional 15% bonus on the fee that you paid. My Forex Funds (MFF) also offered a bonus of 2% of the profits you made in stage two of your challenge, the verification phase, once you had completed your first month of trading.

But what if you follow your rules, manage your risk, complete your challenge green, but do not meet your profit targets?

Challenge Retakes

While FTMO will give you another chance to complete the challenge for free, they will only give you an extra month, after which you will have to restart from the beginning. And you must follow your rules and try again to hit that target.

My Forex Funds (MFF), on the other hand, have a very appealing retake offer. Instead of giving you another free go asset, they extend your account by four weeks if you followed the risk management, did not break any rules, and finished in the green in your accounts the first month.

So, for example, if you’re trying to hit that 8% profit target with My Forex Funds (MFF) and you finish the challenge up 5% in your account, they’ll extend it so you only need to gain the extra 3%. If you’re still not successful after four weeks, but you finished green and followed your rules, My Forex Funds (MFF) will give you a free month to try again from the beginning. So you have two options with My Forex Funds (MFF) to complete the challenge again.

Failed Challenges

But what if you fail the challenge? FTMO doesn’t give you a second chance. However, you must approach it as a new challenge. You must repurchase it. And you have to start all over again. My Forex Funds (MFF), you’ll have to pay for it all over again. However, they will give you a discount ranging from 10% to 18% off the cost of your retry. So there’s an added incentive there that they’re attempting to assist you in attempting your challenge.

Account Scaling Growth

Looking at the scaling growth for the accounts once more, this is very interesting, and it’s the ability to grow your account over time.

FTMOs do offer a 25% growth on your account every four months if you are profitable for two of those four months and have met your 10% target.

My Forex Funds (MFF) follow a similar scaling strategy. So it’s the same process every four months, as long as you’re profitable two of those four months and have made a 10% profit, but my Forex ones will increase your account size by 30%. So, when compared to FTMO, you do get an extra amount added to your account as part of their scaling program.

Markets

Looking at the different markets available to trade within the two different prop firms, FTMO has a diverse range of markets available to trade. You can therefore trade Forex stocks, indices, commodities, and cryptocurrencies.

My Forex Funds (MFF), on the other hand, have a slightly narrower range of markets from which to trade. So, while they provide Forex indices and commodities, you cannot trade cryptocurrencies or stocks. 

Just to summarize some of the key points that I believe distinguish My Forex Funds (MFF) as a genuine contender to FTMO.

My Forex Funds (MFF) offer greater profit splits, eventually allowing you to claim 85% of profits.

You have a smaller profit target to achieve of 8%.

There is excellent leverage of one to one hundred and no restrictions on trading with My Forex Funds (MFF) on that account.

When you complete your account challenge and obtain your Live account, you will receive a refund of the amount you paid for the account challenge, as well as some additional benefits and bonuses.

If you don’t pass your current challenge, they do have an extension option that can help, and my Forex funds also give you a higher drawdown rate of 12 percent

My Forex Funds (MFF) have numerous advantages over FTMO. In addition, all of their account challenges are significantly less expensive to complete than FTMOs. This certainly qualifies My Forex Funds (MFF) as a viable option for your funded trading account challenge. If you want to learn more about my Forex bonds or FTMO, please contact me.

👉 My Forex Funds (MFF) FUNDING – Use ‘mindfully trading’ for a 5% DISCOUNT

👉 FTMO FUNDING

👉 Get FUNDING for Trading with the 5%ers – 

 

Video links

👉 Tradingview tutorial for beginners👈

👉 Magic Keys Review – WicksDontLie -👈

👉 6 Best Platforms to Trade FOREX video. 👈

👉 Can You Make a Living From Trading Forex?- 

 

 

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