MYFOREXFUNDS VS FUNDERPRO
Rating breakdown
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.
Compare MYFOREXFUNDS VS FUNDERPRO Trading Features
| Trading Feature | MYFOREXFUNDS | FUNDERPRO |
|---|---|---|
| 💰 Fees: | My Forex Funds Challenge with an initial capital $10,000 balance for $84, $20,000 balance for $139, $50,000 balance for $299, $100,000 balance for $499, $200,000 balance for $979 | FunderPro offers four tiers of funded account challenges: a $25K balance costs $250, a $50K balance costs $300, a $100K balance costs $550, and a $200K balance costs $995. Scaling plan up to $5 million. |
| 🚀 Profit split: | My Forex Funds funded account challenge pays out 75% (first month), 80% (second month) and 85% (third and next months) | The FunderPro funded account challenge pays out 80% of the profits. |
| ✔️ Evaluation: | My Forex Funds has two-part evaluation process that you must pass to become a funded trader. The Evaluation phase and the Establishment Phase | FunderPro’s flagship product is a two-step evaluation. |
| 🎯 Profit Target: | 8% in phase 15% in phase 2 | 10% for Stage 1 and 8% for Stage 2. |
| ⚓ Maximum drawdown (MDD): | 5% Daily Starting Drawdown. 12% Overall Drawdown. | 10% maximum loss throughout the challenge. 8% maximum daily loss. |
| ⌛ Trading Period: | There is no time limit. You can trade at your own pace and earn at your own pace. | Unlimited time to complete the challenge. |
| ⚖️ Leverage: | With Myforexfunds your leverage will be set to 1:100 leverage on Emphatic and 1:50 leverage on Conventional for Forex, Metals and CFDs. The Leverage for their Rapid program on all account sizes is 1:500. | The leverage in FunderPro for the Regular Challenge and Funded Accounts is Forex: 1:100, Metals, Oil, and Indices: 1:50, Crypto: 1:2 |
| 🔧 Instruments: | Forex, Indices and Commodities. | Forex, indices, commodities, cryptocurrencies and stocks. |
| 📰 Allow Trade News: | Yes with My Forex Funds you can trade during news events. | No FunderPro does not allow news trading. You can close the trading before 2 minutes of high-impact news and re-open trading after 2 minutes. |
| 🔄 Weekend Position: | Holding trades over the weekend is allowed only on Evaluation and Rapid accounts. However, if you are trading with an Accelerated account, you won’t be able to hold trades over the weekend. | No you cannot hold trades during weekend. |
After spending several days researching different Proprietary Trading Firm for funded trading accounts, our team at start-business-online.com team collected various data points. For this review, we will compare Myforexfunds vs Funderpro.
Compare MYFOREXFUNDS VS FUNDERPRO Funded Trading Accounts Programs - Find the best firm for you
MYFOREXFUNDS VS FUNDERPRO Prop Trading Firms at a glance
A handy comparison table with all the key facts for the Funded Trading Accounts Programs.
| Evaluation Metric | How they performed |
|---|---|
| Challenge Assessment | My Forex Funds has more rules and restrictions with their accounts, making the challenges slightly harder than average. On the other hand The FunderPro Challenge is simple and straightforward. Traders select their account size- $25k, $50k, $100k, or $200k. The requirements are easily followed without unnecessary complications - max daily and overall losses are fair, and traders have all the time they need to trade because there is no deadline for the challenge to be completed. |
| Customer support | Similar to most prop firms, My Forex Funds has live chat but no contact phone number. There are three ways to contact the prop firm: through the Discord server, live chat, or email support. Support is only available 5 days a week (although it is 24 hours on these days). On the other hand The FunderPro team is reliable and helpful. Traders get paid weekly with a profit share every Friday. |
| Fee | The fees for the My Forex Funds challenges vary on the account size in question. Let’s have a quick overview of these. The Rapid Account begins at $99 for a $10,000 account and goes up to $749 for a $100,000 account. The Evaluation program begins at $84 and ends at $979 for the same account sizes. With the Accelerated program, entry fees are higher ($99 for a $2,000 account and a whopping $2,450 for a $50,000 account) but this is understandable. Traders are essentially paying a premium to skip the evaluation process and go straight to a live, funded account. On the other hand FunderPro is actually a pretty decent value for every account size. it is also focused on its traders, which could mean that they provide a better experience for their clients. |
| Payout scheme | We have mixed feelings about the My Forex Funds payout scheme. On the plus side, traders can choose to withdraw profits on a bi-weekly basis after a month of trading a funded account. Methods are through bank transfer, cryptocurrency, Wise, or PayPal. There is a limit on the withdrawal amount, however, and traders cannot take out more than 12% of the initial balance. On the other hand With FunderPro after your first payout, you will continue to receive payouts on a weekly basis. Your profit split will be 70% based on the profit you make on your funded account. While this isn't as generous a profit split as some rivals, the challenge conditions are not as strict, making it easier to come out winning. For this reason, they score highly on this metric. |
The Verdict: Myforexfunds or Funderpro?
There’s no such thing as a perfect Proprietary Trading Firm, but some are going to be a better fit for you than others.
Objectively, Funderpro is more reliable based on our criteria above.
What We Really Like on Funderpro
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
What We Do not Like on Myforexfunds
No weekend customer support
Excessive trading rules
Complaints of high slippage
Software malfunctions
Other Important Factors That Influence Our decision the most
Key Challenges and Frustrations Faced by Myforexfunds Users
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.
Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Funded Trading Accounts based on your precise requirements here.