Finance
MyForexFunds – A World’s Leading Prop Trading Firm
Forex, which is short for foreign exchange, is the largest financial market globally, with a daily trading volume exceeding $6.6 trillion. Currencies play a vital role in international trade, making the Forex market a crucial part of the global economy. It is a dynamic marketplace that utilizes advanced technology and is open to traders of all experience levels, providing an exceptional chance to engage in currency trading and potentially gain profits.
In general, there are two paths for a trader to follow – trade in a retail account or become a funded trader. Retail traders often face a problem of under-capitalization and are limited by the amount of personal funds at their disposal for trading. A skilled and experienced trader looking at larger opportunities can benefit immensely from receiving trading capital. And that’s where MyForexFunds comes in.
MYFOREXFUNDS AT A GLANCE
Proprietary trading or forex prop trading is when a firm allows traders to trade stock, futures, or commodities with the firm’s own money to earn profits and share with the firm. Trading with a forex prop firm gives traders the opportunity to increase their account capital with minimal exposure. While many prop trading firms offer funding services to traders, MyForexfunds, an Ontario-based prop trading firm, and its versatile products and services set it apart from the rest. MyForexFunds was introduced to the world in 2020 and since then it has grown rapidly, with the remarkable achievement of claiming the #1 spot for web traffic worldwide, as witnessed a 400% increase in visits and a staggering 350% increase in unique visitors. Since its foundation, the company has grown to over 180,000 traders from 80 countries. MyForexFunds employs more than 300 highly skilled professionals representing over 30 different nationalities. The Company’s motto “Your Success is Our Business” is aimed at assisting traders and helping them grow together. With over 2000 new traders per day, MyForexFunds’ vision is to expand its business into similar niches and offer funded trading accounts to more people who pursue to benefit from their skills.
WHY TRADERS CHOOSE MYFOREXFUNDS?
MyForexFunds offers funding programs with the best market conditions that can be adapted to different trader profiles, allowing traders to manage a real funded trading account from Day 1 and earn bonuses, without requiring an evaluation. It also offers profit splits that can reach up to 90%, managing an account of up to $600,000.
The company offers three programs designed to kickstart an exciting journey as a Forex Funded Trader, tailored to the experience level of any trader:
EVALUATION PROGRAM
The MyForexFunds Evaluation account is built for semi-professional forex traders in need of capital to move to the next level of their careers. In this option, traders can prove their skills and talent by going through a two-phase process and starting their trading journey with MyForexFunds. On the 17th of July, the company revamp edits Evaluation program and added the game-changing Unlimited Days feature. Now the traders can enjoy the freedom of Νo Time limits on both phases of their evaluation and explore market opportunities at their own pace.
Evaluation phase one requires a trader to reach a profit target of 8% and phase two requires a trader to reach a profit target of 5%. Both phases have No time limit due to the latest feature. After completing both evaluation phases, the trader is awarded a funded account with no profit targets. After completing phase two, the trader also receives 2% of the profit made in the phase one evaluation.
RAPID PROGRAM
The Rapid account program is designed to reward traders for their time while assessing them as they learn to trade with a demo account. The account sizes range from $10,000 to $100,000. The Rapid program’s goal is to gain a three-month snapshot of the traders’ capabilities before giving them access to the company’s live trading funds. The advantage of this program is that traders get to earn 12% bonus profit payouts while being assessed — despite the trading being done in a demo environment. The program does not have profit targets. Upon successful completion of the three-month demo period, traders receive a funded account and start receiving a profit split of 50% in the first month, increasing to 65% and 80% in the second and third months, respectively.
ACCELERATED PROGRAM
The Accelerated program, the company’s third option, is built for professional full-time traders with experience in financial markets who want to boost their capital immediately without risking their own money. This account ranges from $2,000 up to $50,000, and traders can grow their funds all the way up to a max of $2 million with scaling. Accelerated program accounts have no time limitations, lot size restrictions, or consistency rules to follow. They also do not have any profit targets to meet to be eligible for weekly payouts. In all three options, traders are required to respect a 5% maximum daily loss and 12% overall maximum loss rule.
MYFOREXFUNDS– THE FUTURE AWAITS
The company demonstrated sustained and consistent growth during the last year, and the market indicates that it will continue to do so. Its business is performing well, with high demand for its products and services and a robust pipeline of new projects. However, MyForexFunds believes that growth comes from building a great company over the long term.
Murtuza Kazmi CEO of the company also commented: “MyForexFunds strives to be the standard of excellence in all we do. Our strong values are the fuel for every aspect of our operations. We know that our traders, like us, are always seeking to stay ahead of the latest developments. That’s why we are committed to always pushing the market limits and fostering innovation so we can offer them a holistic trading experience.”
To learn more about MyForexFunds, visit the company website www.myforexfunds.com
