MyForexFunds Rules

MyForexFunds is a 2-step prop trading firm that offers 3 account sizes ranging from $10,000 to $100,000. CLOSED (August 2023). MyForexFunds was shut down by the CFTC and Canadian regulators. Was one of the largest retail prop firms before closure. Included for historical reference and trust comparison. The firm supports MT4, MT5 and gives traders access to forex, indices, commodities markets. Expert advisors and automated trading bots are allowed, making it suitable for algorithmic traders. Copy trading is also permitted.

The evaluation uses static (floor never moves), which means your drawdown floor is set once at account opening and never moves up. This is the most trader-friendly drawdown type because every dollar of profit adds a genuine cushion above your breach level. If you grow a $100,000 account by $5,000, your floor stays at $88,000, giving you $17,000 of total room.

The 5% daily loss limit acts as a circuit breaker. On the $100,000 account, that means you cannot lose more than $5,000 in a single day. This is calculated from your equity (including open positions), which is an important distinction -- floating losses count against you even before you close the trade. Profit split starts at 75% and scales up to 85%, with payouts processed no longer operational.

Common mistakes traders make on MyForexFunds: Hitting the daily loss limit by overleveraging after a losing streak is extremely common. On the $10,000 account, your daily limit is only $500 -- two bad trades at 2.5% risk each and you are done for the day. Always verify the current rules on the official rules page before starting.

Who MyForexFunds is best for: Swing traders and position traders who need to hold through overnight sessions and weekends will appreciate the static drawdown and relaxed holding rules. Forex and CFD traders -- futures are not available. Budget-conscious traders will appreciate the low entry point of $84 for the $10,000 account.

MyForexFunds pays out no longer operational with a profit split starting at 75% and scaling up to 85%. The profit split structure means you keep 75% of all profits on your funded account. As you demonstrate consistent performance, the split increases -- rewarding disciplined traders who stay funded longer.

The scaling from 75% to 85% is MyForexFunds's incentive for longevity. Most traders who pass the evaluation but get their accounts terminated within 60 days never see the higher split. Building a sustainable trading approach is more valuable than chasing the profit target aggressively.

For detailed payout terms, processing speed, and withdrawal methods, see the MyForexFunds payout breakdown.