my forex funds

program rules

My Forex Funds has one of the simplest program structure to follow which facilitates our traders to get funding and start earning from day one!

My Forex funds’

program rules & Guidelines

As we mentioned earlier, our rules and guidelines are the backbone of our vision and business goal. These must be followed at all times while you are trading with our program (though following them in your own trading won’t be as bad either). These rules will enable you to control your emotions and trade with risk management at the core of your plan – enabling you to be successfull and profitable in both short and long term.

Rule # 1 - Have Fun While Earning

Don’t stress. Have a plan, execute it and earn while doing so without risking any of your capital. There are specific (yet simple) parameters that you must follow in this program. We believe if you stick to them, and your strategy, you will be successful. Have fun!

RULE # 2 – Trading Frequency & Consistency

 

We want you to succeed and not be glued in front of your screen 24/7. That being said, you must enter minimum of 1 trade per day for minimum of 3 or 4 days a week (depending on your account size). This will enable us to filter and assess your trading skills (while you earn money) and graduate the traders who are serious about trading to bigger opportunities.

As you enter one trade per day on at least 3 or 4 days a week (depending on your account size), we want to remind you to ensure to follow risk and account management closely (see below).

Only fully executed trades will count towards this requirement. This does not mean you must open AND close a trade. If you have placed a trade and it has executed, it will count towards your daily target of 1 trade. If you do not meet the minimum trades per day requirement, you account will be flagged for violation and you will not be eligible for further payouts.

We will use your broker’s time zone to determine opening and closing of each trading day.

You must follow the minimum days a week rule regardless of yours P&L. For example, if you make profit on your first trade. You cannot abruptly stop trading for that week. You must enter trades to meet your minimum trade requirement.

Any indication of “gambling” or erratic behavior change (i.e. increase in LOT sizes, trades per day, risk per trade etc.) will result in account termination with no payment being made. A safe to increase or decrease your risk parameters to keep within +/- 200% of your average or deviation by factor of 2. Two main KPI we use here are trades and lot size. Each week, we will take an average of mentioned KPIs and place a ceiling (avg x 2) and floor (avg / 2) for the trades. Any trades outside these parameters will raise a flag on an account and a possible violation.

Example: 

Day Trades (#) Lots traded (#)
1 4 9
2 5 12
3 3 9
4 2 3
Average 3.5 8.25
Max (Avg x 2) 7 16.5
Min (Avg / 2) 1.75 4.125

In the above example, lots traded fall outside of our minimum based on the average based min required. This will cause a violation.

Between weeks, we would like our traders to stay consistent as well. Like the rule above, we allow for a deviation by factor of 2.

For example, if week # 1, an average for number of trades and lots traded are 10. The following week, you may increase your average to 20 (avg x 2) or reduce it to 5 (avg / 2). Any more or less will be considered a violation in consistency. This calculation is only done by using the current and prior week averages. 

If you plan to change your style and trade more aggressively or moderately, you must inform us before at least 48 hours before and obtain an approval from My Forex Funds. 

RULE # 3 – Trading Behavior

We encourage you, the trader, to learn and earn. Refine what you know and execute your plan. Our main goal is to find talented traders that can handle our funds and trade for us – mutually benefitting both parties (you, the trader and us, the investor)

There is no rules or constraints on your trading style as long as you can be consistent in what you do throughout your pay cycles. Drastic change in lot sizes, % risk / trade and other variables will be flagged and may lead to pay suspension for that month. Constant violation may result in account termination.

As long you have a plan, and are sticking by it, you will be okay.

RULE # 4 – Account Details & House Keeping

We will be providing you with login details after you sign up with us. You are not allowed to change these details under any circumstances.

Furthermore,  you are not to add or decrease any funds from your account. If we detect any changes (password, account size, etc.), we will suspend your account and cancel any profits that are to be made to you.

You have to trade yourself. You may learn from experts, but should not use any signals or bots for trading. How do we check? If we find a “magic number” on your trade, or any other indication that you have been copying trades, your account will be subject to suspension. 

You accounts will be monitored for performance, analytics and to ensure all above rules are being followed. 

RULE # 5 – Trader’s Earning (2 Ways to Earn!)

First way to earn (aka your Expertise Earning or “EE”) – On account that you sign up for – you will be paid 10% on bi-weekly basis during your first month. If you’re successful, we will increase that to, 12.5% for second month and 15% for third (+onwards) month. Your earnings will depend on being successful and not committing any violations in the trading period for that month. If a violation is made, your pay tier will reset to 10%.

Second way to earn (aka your Funded Earning or “FE”) – For every dollar you earn on your simulated account, we will match and put it in your trading account for up to 3.5% of your account size (i.e. Maximum of $350 allocated to Funded Account on a $10,000 account). You will be able to access this trading account when you reach 10% of the account you signed up for. If you have signed up for different tiers (we will use 10% of the combined tier). Minimum time that you can start trading your FE account is 3 months.

A video explaining can be found here. (coming soon)

RULE # 6 – Payout

The earnings from your accounts will be sent to you on bi-weekly basis using one of our payment methods. These include, but are not limited to, PayPal, Bank Transfer, EMT, TransferWise, or Bitcoin. We will get in touch with you 2 business day prior to your pay out day (14 days after your first trading day) to discuss the method you prefer. If you do not hear from us, please email us at support@myforexfunds.com

RULE # 7 – Profit Sharing

On the account you sign up for – you will make 10% profits you make. There is no profit sharing in this case. (i.e. If you make $5,000 on your $100,000 account, you will be eligible for a $500 pay out). This is bi-weekly payout and does not reset after end of 2 weeks. (If you make another 5,000 in the following two weeks, you will be 10% of 10,000 = $1,000 , as the account does not reset between pay cycles in the same month)

On funded account – you will receive 50% of the profits you will make the first month. This goes up to 65% during your second month and 80% during third month onwards. Keep in mind, you will not be allowed to withdraw the capital on this account as that will be funded by our firm and those funds are considered our invested capital.

A video explaining can be found here. (coming soon)

RULE # 8 – Risk & Account Management

In any account size, you must not have a drawdown of 5% or higher in a trading day (floating drawdown – calculated with equity, not balance, at any given time). This will be monitored closely and if violated will result in account suspension. To us, risk management is of very important and we cannot have traders that like to “gamble” without plan in our program.

Drawdown % = [1 – (lowest equity for the day) / (starting equity for the day) ] X 100

Furthermore, you must not have a drawdown of 12% or higher overall throughout your pay period.

These two rules (5% and 12% drawdown), along with consistency (Rule #2) will be monitored closely and if violated will result in account suspension. Account suspensions can be reset by paying account sign up cost minus 20% (i.e. for 10K account – account sign up fee is $75. Reset fee will be $60). 

At the end of each month, if you would like to bring your balance to original amount, given you haven’t had a profitable month, the following fee will apply:  

For $10K account, it is $53.
For $20K account, it is $86.
For $50K account, it is $202.
For $100K account, it is $351.

A video explaining can be found here. (coming soon)

RULE # 9 – Losses

Trading in My Forex Funds program – you, the trader, are not liable for any losses you incur on your accounts (hence the risk free aspect). That being said, ensure that you are clear about the Risk and Account Management (see above, Rule #8).

Our goal

My Forex Funds overall goal is to have profitable traders managing our capital. Our one of a kind funding program enables traders to trade with larger accounts (up to $100K) without risking any of their capital. However, this program also teaches traders to trade with a goal and strategy in mind.

If you like to gamble or trade of the “sake of trading” than this program might not be for you. Our program rules are the fundamental basis of our vision and must be followed at all times. If at anytime, you want to clarify anything or learn more, please feel free to reach out to us at support@myforexfunds.com

“Finally, A trading Program Where Everyone from Everywhere is Welcome. No challenges, no tests, no verification or interviews. Simply register and start trading”

Our goal is to keep things simple. Follow the consistency and drawdown rule along with proper account management, and you will start earning money from day one. If you have any questions, please do not hesistate to email us at support@myforexfunds.com