What is MyForexFunds?
MyForexFunds (MFF) is a Canadian prop firm that's been making waves since 2020 for one killer feature: weekly payouts. While most firms make you wait 2-4 weeks between withdrawals, MFF lets you cash out every 7 days.
They've funded over 15,000 traders and paid out $65M+ in profits. Their evaluation is straightforward - either a 1-step "Rapid" program or a 2-step "Evaluation" program, both with reasonable profit targets and drawdown limits.
What makes MFF special is their trader-first mentality. They actually want you to succeed - they don't play gotcha games with rules, they respond to support tickets fast, and they process payouts without drama.
Quick Facts
- •Profit Split: 80/20 (you keep 80%)
- •Account Sizes: $5K, $10K, $25K, $50K, $100K, $200K
- •Evaluation: 1-step (Rapid) or 2-step (Evaluation)
- •Scaling: Up to $2.5M via account merging
- •Payouts: Weekly (every 7 days)
- •Platforms: MetaTrader 4/5, cTrader, Match-Trader
- •Markets: Forex, Indices, Commodities, Crypto, Stocks
Key Advantages
1. Weekly Payouts (The Game-Changer)
This is MFF's biggest selling point: request payouts every 7 days. Not bi-weekly, not monthly, not "14 days minimum between payouts" - literally every single week.
Example weekly cashflow:
- •Week 1: Make $2K, request payout, get $1,600 (80%)
- •Week 2: Make $1.5K, request payout, get $1,200
- •Week 3: Make $3K, request payout, get $2,400
Compare this to firms where you have to wait 14-30 days between payouts. MFF's weekly schedule is perfect for traders who rely on prop trading income for living expenses.
2. Rapid Program (1-Step Evaluation)
MFF offers a "Rapid" program where you only need to pass one evaluation phase to get funded. Hit 10% profit, stay within drawdown rules, and you're immediately funded - no phase 2, no verification.
This is perfect for experienced traders who don't want to waste time proving themselves twice. You can go from challenge purchase to funded account to first payout in as little as 2-3 weeks.
If you prefer a slower path with smaller targets, they also offer a traditional 2-step "Evaluation" program (8% phase 1 + 5% phase 2).
3. No Minimum Trading Days
Unlike FTMO (5 min days) or other firms with minimum day requirements, MFF has zero minimum trading days. If you hit your profit target in 3 days, you pass immediately.
This is amazing for traders who catch big moves quickly. You're not forced to keep trading (and risking your gains) just to satisfy an arbitrary day count.
4. News Trading & EA Friendly
MFF explicitly allows:
- •News trading - trade NFP, CPI, FOMC without restrictions
- •Expert Advisors (EAs) - fully automated trading allowed
- •High-frequency trading - scalp as much as you want
- •Weekend holds - carry positions over weekends
This flexibility is rare. Many prop firms ban news trading or require EA approval processes. MFF says "trade however you want, just make money and follow the rules."
5. Affordable Pricing + Aggressive Discounts
MFF's base pricing is already competitive, and they frequently run 50-70% discount codes:
- •$50K Rapid account: $249 → $75 with 70% off
- •$100K Rapid account: $579 → $174 with 70% off
This makes MFF accessible to traders on tighter budgets who still want a reputable firm (not some sketchy $20 challenge).
6. Merge Accounts to Scale Up
Once you're consistently profitable on multiple funded accounts, MFF allows you to merge them into a single larger account. This simplifies management and lets you scale to $2.5M+ total capital.
Example: Pass 2x $100K accounts → merge into 1x $200K account. Now you only manage one account instead of juggling two.
Disadvantages & Limitations
1. Smaller Firm = Higher Risk
MFF launched in 2020, making them significantly younger than FTMO (2015) or Apex (2021). While they've paid out $65M+ and seem legitimate, they don't have the decade-long track record of older firms.
There's always slightly more risk with newer firms - they could change rules, get acquired, or face regulatory issues. MFF has been solid so far, but keep this in mind if you're risk-averse.
If maximum stability is your priority, stick with FTMO or Apex. If you want speed and weekly payouts, MFF is worth the minimal extra risk.
2. No Profit Split Increase
MFF's profit split is 80/20 forever. Unlike FTMO (which bumps to 90/10 after first payout) or other firms with scaling splits, you'll always keep 80%.
This isn't terrible, but if you're planning to be with MFF long-term and make $10K+ per month, that missing 10% adds up fast:
- •$10K profit @ 80% = $8,000 for you
- •$10K profit @ 90% = $9,000 for you
- •Difference: $1,000/month or $12K/year
3. 10% Rapid Target Can Be Aggressive
The 1-step Rapid program requires 10% profit - which is doable but not easy. You need to average 0.5% profit per day over 20 trading days with zero room for error.
Compare this to:
- •Take Profit Trader: 6% target (easier)
- •E8 Funding: 8% target (easier)
If you're a conservative trader, consider MFF's 2-step Evaluation program instead (8% + 5% = 13% total, but spread across 2 phases).
4. Limited Educational Resources
MFF's platform is bare-bones compared to FTMO's extensive courses, webinars, and analytics dashboard. You get access to:
- •Basic performance stats
- •Discord community (decent but not as active as FTMO's)
- •Occasional blog posts
If you need hand-holding or want to improve as a trader, go with FTMO. MFF is for traders who already know what they're doing and just want capital + fast payouts.
5. No Evaluation Refund
Some prop firms refund your evaluation fee after your first payout. MFF does not - your entry cost is a sunk cost whether you pass or fail.
With 70% discount codes, a $50K challenge is only $75, so this isn't a dealbreaker. But it's worth noting if you're comparing total ROI calculations.
Pricing Breakdown
MFF offers both 1-step "Rapid" and 2-step "Evaluation" programs. Here's pricing for the Rapid program (most popular):
| Account Size | Full Price | 70% Off | Profit Target | Max Drawdown |
|---|---|---|---|---|
| $5,000 | $49 | $15 | $500 (10%) | $250 (5%) |
| $10,000 | $99 | $30 | $1,000 (10%) | $500 (5%) |
| $25,000 | $159 | $48 | $2,500 (10%) | $1,250 (5%) |
| $50,000 ⭐ | $249 | $75 | $5,000 (10%) | $2,500 (5%) |
| $100,000 | $579 | $174 | $10,000 (10%) | $5,000 (5%) |
| $200,000 | $999 | $300 | $20,000 (10%) | $10,000 (5%) |
💡 Best Value Analysis
The $50K Rapid account offers incredible ROI:
- •Entry cost: Only $75 with 70% off
- •Profit target: $5,000 (achievable in 15-20 good trading days)
- •First payout potential: $4,000 (80% split) = 53x ROI!
- •Weekly cashflow: Request payouts every 7 days after that
If you're on a tight budget, the $10K account for $30 is also excellent for testing the waters.
Rapid vs. Evaluation
Rapid (1-Step):
- •10% profit target
- •5% max drawdown
- •Faster to get funded (one phase only)
Evaluation (2-Step):
- •Phase 1: 8% profit target
- •Phase 2: 5% profit target
- •10% max drawdown (both phases)
- •Slightly easier per phase, but takes longer overall
Reset Policy (Important!)
How Resets Work at MFF
If you breach a rule during evaluation, MFF offers "retries" at a discounted price (typically 50% of original cost). Your progress resets to $0 and you start fresh.
This is a fair system - cheaper than buying a new challenge, but you don't get to keep your partial progress.
Retry Pricing (50% Off Original)
| Account Size | Original (70% off) | Retry Price | Savings |
|---|---|---|---|
| $10,000 | $30 | ~$50 | N/A (retry costs more) |
| $25,000 | $48 | ~$80 | N/A |
| $50,000 | $75 | ~$125 | N/A |
| $100,000 | $174 | ~$290 | N/A |
| $200,000 | $300 | ~$500 | N/A |
💡 Retry Strategy
Important: Because MFF runs such aggressive discount codes (70% off), it's often cheaper to buy a new challenge with a discount code than to pay for a retry at 50% of full price.
Example (50K account):
- •Retry: $125 (50% of $249 full price)
- •New challenge with 70% off: $75
- •Better choice: Buy new challenge and save $50
Complete Trading Rules
Rapid Program (1-Step)
- Profit Target: 10% of starting balance
- Max Drawdown: 5% of starting balance (static, doesn't trail)
- Minimum Trading Days: None
- Time Limit: Unlimited
- No Consistency Rules: Trade however you want
Evaluation Program (2-Step)
Phase 1:
- Profit Target: 8% of starting balance
- Max Drawdown: 10% of starting balance
Phase 2:
- Profit Target: 5% of starting balance
- Max Drawdown: 10% of starting balance
Funded Account Rules
- Profit Split: 80/20 (you keep 80%, always)
- Max Drawdown: 10% of highest balance (trails with profits)
- Payouts: Weekly (every 7 days)
- Minimum Payout: $100
- Payout Processing: 1-3 business days
Allowed Trading Strategies
- ✓Scalping (no minimum hold time)
- ✓Day trading
- ✓Swing trading + weekend holds
- ✓News trading (fully allowed)
- ✓Expert Advisors / automated trading
- ✓High-frequency trading
- ✗Hedging between MFF accounts
- ✗Arbitrage / latency strategies
⚠️ Important Clarifications
- Trailing Drawdown (Funded): Once funded, your max loss threshold trails with profits. If you grow $50K to $60K, you can't drop below $54K (60K - 6K).
- Weekend Holds: Allowed, but gap risk over weekends counts toward your drawdown. Use tight stops if holding Friday → Monday.
- Weekly Payout Timing: Request by Friday, receive by following Wednesday typically. Plan your cashflow accordingly.
Common Mistakes to Avoid with MyForexFunds
MFF's weekly payouts and flexible rules attract traders, but many still fail their evaluations. Here are the 5 critical mistakes to avoid - especially with the aggressive 10% Rapid target.
1. Rushing the 10% Rapid Target in Under 5 Days
The Mistake: Seeing "no minimum trading days" and trying to smash 10% profit in 2-3 days with aggressive position sizing. You hit a few bad trades, violate the 5% drawdown, and fail before day 5.
MFF's Rapid program has NO minimum days, but that doesn't mean you should gamble it all on week 1.
The Solution:
- •Target 1.5-2% daily profit consistently rather than 5% days followed by losses
- •Give yourself 7-10 trading days minimum to hit 10%, not 3-4
- •Use proper position sizing: risk 0.5-1% per trade max, not 2-3%
- •Remember: Getting funded fast means nothing if you keep failing challenges
2. Over-leveraging Forex Positions During High Volatility
The Mistake: MFF is forex-focused, so traders pile into EUR/USD or GBP/USD with 5-10 lot sizes on a 50K account during London open. One unexpected move wipes out 3-4% in minutes.
The 5% max drawdown on Rapid means you have ZERO room for over-leveraging mistakes.
The Solution:
- •Max position size: 1-2 lots on 50K ($10-20 per pip) for major pairs
- •Reduce leverage during news releases and session overlaps (7-11 AM GMT)
- •Use MFF's 10% drawdown on the 2-step Evaluation if you trade aggressively
- •Scale position sizes DOWN after a big winning trade to protect gains
3. Mismanaging Weekly Payout Expectations When Funded
The Mistake: Getting funded and immediately trying to make $2-3K every single week to maximize payouts. This creates unsustainable pressure, leads to overtrading, and eventually breaches the trailing drawdown.
MFF's weekly payouts are a huge advantage, but they can also create a "gotta make rent" mentality that destroys accounts.
The Solution:
- •Set realistic weekly profit targets: 2-4% ($1K-2K on 50K), not 6-8%
- •If you hit $1.5K profit by Wednesday, stop trading and request payout Friday
- •Don't trade every single day just because payouts are weekly - quality over quantity
- •Build a 2-3 week financial buffer so you're not dependent on every payout
4. Ignoring MFF's Trailing Drawdown Rules
The Mistake: Growing your funded 50K account to 58K, then having a bad week and dropping to 52K. You think "I'm still up $2K from start" but MFF terminates you because you violated the 10% trailing threshold ($52.2K min from $58K peak).
Once funded, the 10% max loss trails with your HIGHEST balance achieved, not your starting balance.
The Solution:
- •Request payouts every 1-2 weeks to lock in gains and reset your threshold
- •Track your high-water mark and breach level in a spreadsheet daily
- •After a big winning week (+$5K), reduce position sizes by 30-50% for 2-3 days
- •Set alerts when you're within $1K of your trailing threshold
5. Trading Too Many Currency Pairs Simultaneously
The Mistake: MFF offers 30+ forex pairs, so traders open positions on EUR/USD, GBP/JPY, AUD/CAD, and NZD/USD all at once. Market correlation moves all 4 pairs against you, and you hit -4% loss before realizing it.
More pairs = more exposure = more risk of correlated losses wiping you out.
The Solution:
- •Limit yourself to 2-3 major pairs maximum during evaluation (EUR/USD, GBP/USD, USD/JPY)
- •Avoid opening positions on highly correlated pairs (EUR/USD + GBP/USD = double USD exposure)
- •If you must diversify, use negative correlations (EUR/USD long + USD/CHF long)
- •Master one pair first, then add others once funded
Proven Success Strategies for MyForexFunds
These strategies leverage MFF's unique advantages - weekly payouts, flexible rules, and forex focus - to maximize your pass rate and long-term profitability.
1. The "Forex Session" Trading Schedule
MFF is forex-centric, so align your trading with specific forex sessions that offer the best risk-to-reward opportunities.
Optimal session strategy:
- •London Session (3-7 AM EST): Highest volume for EUR/GBP pairs. Trade breakouts.
- •NY Session (8 AM-12 PM EST): Best for USD pairs. Trade trend continuations.
- •Avoid Asian Session (7 PM-3 AM EST): Low volume = choppy price action = more losses
Pro tip: Only take trades during your chosen session(s). If your session closes and you have no position, walk away until tomorrow.
2. Leverage Weekly Payouts for Compounding Growth
MFF's weekly payouts are a game-changer for compounding. Here's how to use them strategically:
The compounding strategy:
- •Week 1-2: Make $1-1.5K, request payout, withdraw $800 (80%)
- •Week 3: Use $800 payout to buy 2nd MFF challenge (with 70% discount = $174 for 100K)
- •Week 4-6: Pass 2nd challenge while continuing to profit on 1st account
- •Week 7+: Manage 2 funded accounts = 2x weekly payouts ($2-3K/week total)
This strategy lets you scale from 1 to 3-4 funded accounts within 2-3 months, all funded by your own payouts.
3. Use the 2-Step Evaluation for Consistency
Most traders choose MFF's Rapid (1-step) for speed, but the 2-step Evaluation program has a higher pass rate for conservative traders.
Why 2-step is underrated:
- •Phase 1: 8% target + 10% drawdown (more forgiving than Rapid's 10% + 5%)
- •Phase 2: Only 5% target = easy to pass in 5-7 days
- •Total cost: Same as Rapid (~$75 for 50K with discount)
- •Takes 2-3 weeks longer, but 40% higher pass rate based on community data
Best for: Traders with 50-60% win rates who prioritize consistency over speed.
4. Master the "Friday Payout" Timing Strategy
MFF processes payout requests on a rolling 7-day cycle. Time your requests strategically to maximize cashflow and minimize account downtime.
Optimal payout timing:
- •Request payouts on Fridays: Processing happens Mon-Wed, you get paid by Wednesday
- •Avoid requesting Mon-Tue: Processing can take until next week
- •Trade Mon-Thu, request Friday: You keep account balance high while waiting
- •Don't withdraw full profit: Leave $500-1K buffer to avoid starting fresh weekly
This timing optimization ensures you get paid mid-week every week like clockwork.
Our Verdict: Is MyForexFunds Worth It?
Platform No Longer Operational
Important: MyForexFunds ceased all operations in August 2023 following action by the U.S. Commodity Futures Trading Commission (CFTC).
The company is no longer accepting new traders and existing accounts have been closed. Any websites claiming to be MyForexFunds should be treated as potential scams.
We keep this page for historical reference only. For active prop firms, please see our recommended alternatives.
Best For:
- •Traders who want weekly payouts
- •Those on tight budgets ($30-$75 entry costs)
- •News traders and EA users
- •Experienced traders who want 1-step evaluation
- •Forex, indices, and crypto traders
Not Ideal For:
- •Traders who prioritize firm reputation/longevity
- •Those who want 90/10 profit splits
- •Traders seeking extensive education/community
- •Complete beginners (10% target is challenging)
- •Risk-averse traders (newer firm = slightly more risk)
Final Recommendation
If you're a proven profitable trader looking for the fastest path to consistent weekly income, MyForexFunds is one of the best choices in the industry.
The $75 entry cost (with 70% off) for a 50K account is incredibly low risk for the potential upside. Pass once, and you're making $4K+ on your first payout. Keep trading well, and you're collecting $1-3K every single week.
For traders who want maximum stability and prestige, go with FTMO. But if you want speed, flexibility, and frequent cashflow, MFF is hard to beat.
Weekly payouts • Get funded in 2-3 weeks • $65M+ paid out