My Forex Funds Alternatives - Better Prop Firms for 2024
Find out the major disadvantages of My Forex Funds Proprietary Trading Firms and alternatives with lower fees and more security. Unbiased My Forex Funds Alternatives reviews.
So which Proprietary Trading Firms are better than My Forex Funds? Want to jump straight to the answer? FunderPro is the best alternative prop firm to My Forex Funds for June 2024 .

Why would you want an alternative to MY FOREX FUNDS?

As the above denotes, where My Forex Funds stands out in negative light from its peers is with the rules. Nearly all the prop firm challenges come with some restrictions, but My Forex Funds are undeniably on the rule-heavy end of the spectrum. Sure, they are generous with weekend trading and there are over 100 instruments on offer, but the drawdown limits will put off many a trader. Each program – and account size therein – comes with its own set of complex rules and restrictions, and traders would be well-advised to do their homework before deciding if this prop firm is right for them.

What to look for in a MY FOREX FUNDS Alternative?

With the above in mind, here is what we would suggest as an alternative to My Forex Funds: a propriety trading firm which fills in the gaps above. Ideally you want to keep the good and add the missing features.

In stark contrast to the complexity of MFF, ideally you want an innovative platform which is trader-oriented and offers low to no restrictions on trading conditions. A Firm that should focuses on a funding model, which is built around a very simple process, governed by simple and clear rules and not bound by time deadlines and restrictions. Unlike other prop firms, such as MyForexFunds (MFF), you are after an alternative prop firm where there are no time limits imposed on the Challenge, catering for the different trading styles and strategies of traders. Thus, traders are granted the freedom to pass the Challenge at their own pace, whether that takes 2 hours or 2 months.

In sum, when you are after a better proprietary trading firm than MyForexFunds you need to look for the following:

  • Proprietary trading firms that have no time limitation requirements.
  • A program that is built on a minimal and simple rules increasing your odds of success.

Best MY FOREX FUNDS alternatives – Proprietary Trading Firms like (or better than) MY FOREX FUNDS

Rating breakdown

Challenge Assessment
90%
4.5/5
Support
100%
5.0/5
Trading Fees
100%
5.0/5
Payout Scheme
90%
4.5/5

Things we liked:

 Exclusive Discount Code (20% Off Exclusive Offer)
 Minimal rules & unlimited time for completion
 Two-part assessment leading to $200,000 in funding
 Scaling plan & fast-track funding opt

Things we didn't like:

 A Relatively New player in the funded account offering

#1
FunderPro Overview

Founded in Malta in late 2022 by a group of traders and investment managers, FunderPro was born out of the need to provide an opportunity for traders to be judged on their merit without pressure or unnecessary rules. FunderPro traders can trade in their own time, for as long as they want or need, there are no deadlines looming down nor petty restrictions to trip over.

4.1 / 5

Rating breakdown

Challenge Assessment
90%
4.5/5
Support
70%
3.5/5
Trading Fees
70%
3.5/5
Payout Scheme
100%
5.0/5

Things we liked:

 FTMO charges a one-time fee only
 FTMO has generous conditions for its traders

Things we didn't like:

 Complaints about the platform freezing
 Complaints about lack of customer support

#2
FTMO Overview

FTMO is the latest in a burgeoning series of scouting programs. Propriety trading firms or “prop firms” put traders to the test (for a fee) through evaluations and challenges. The lucky few who pass are then funded with capital, and successful trades are split down a percentage with the broker. As scouting firms go, FTMO is an excellent all-rounder. Alongside a decent 80% payout for successful traders, FTMO equips users with webinars, workshops, and coaching.

3.9 / 5

Rating breakdown

Challenge Assessment
70%
3.5/5
Support
70%
3.5/5
Trading Fees
90%
4.5/5
Payout Scheme
80%
4.0/5

Things we liked:

 Let you trade with leverage of up to 1:30

Things we didn't like:

 5%ers Challenge fee is on the higher end of the spectrum
 There are other holes in the 5%er offer

#3
the5ers Overview

The 5%ers is a prop trading firm founded by Gil Ben Hur and Snir Chiel. Both former forex day traders, Gil and Snier, experienced first-hand the frustrations that lack of capital bring to experienced traders ready to play the markets. Hence, the 5%ers Funding Program was born: a platform to reward worthy traders with significant capital, with profits shared in a win-win outcome.

My Forex Funds Alternatives Frequently Asked Questions (FAQs):

Are there any sites like My Forex Funds?
Yes, there are many sites offering similar services to My Forex Funds. These include FunderPro, The Trading Pit, The Funded Trader and many more. If you are looking for an alternative to My Forex Funds,  FunderPro is currently rank as the number one on the list of top Forex Prop Firms.
Who are My Forex Funds Top Competitors?
My Forex Funds 's top competitors in June 2024 are: FunderPro, FTMO, the5ers and more. FunderPro is currently rank as the number one on the list of top Forex Prop Firms.

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