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MyFundedFutures (MFFU) is a proprietary trading firm with structured trading parameters (rules and objectives) purported to ensure a transparent and fair trading environment. Compliance is promoted as a means to refine trading skills and participate in performance-based earnings. Yet, the impact of these regulations on trader autonomy and profitability remains an area for scrutiny.
MyFundedFutures establishes clear rules for its trading accounts, including the Starter, the Expert, and the Funded Accounts, as well as the 30K Static Evaluation Pro and Standard Accounts. These rules outline specific account types, evaluation criteria, and funding opportunities. The focus is on maintaining effective risk management, adhering to profit targets, and ensuring responsible trading practices to maximize potential earnings.
MyFundedFutures outlines five trading parameters (rules and objectives): End of Day (EOD) Drawdown, Daily Loss Limit, 40% Consistency Rule, Scaling Rule, and Profit Target. In addition to these guidelines, traders must trade specific trading instruments during specific trading times.
Uniquely, MyFundedFutures (MFFU) does not enforce daily drawdown limits or a minimum number of evaluation days, allowing traders to get sim funded in the next day.
MyFundedFutures’ payout policy permits traders to request withdrawals every 14 days, with a minimum amount of $1,000 and no requirement for a specific number of trading or profit days. Traders receive 100% of their initial profits up to $10,000, and 90% of any profits beyond that threshold. The policy also includes withdrawal terms during the buffer zone phase and from deactivated accounts, addressing account security and trader access to funds.
In this article, we will explore MyFundedFutures’s rules, covering key rules about Evaluations, funded accounts, payouts, and withdrawals.
What are the rules for Myfundedfutures’s Evaluation?
Myfundedfutures Evaluation Rules, also known as Trading Parameters, outline the structured guidelines and requirements for aspiring traders participating in their prop trader funding program. These rules ensure responsible and disciplined trading practices.
MFFU evaluations outlines five trading parameters (rules and objectives): End of Day (EOD) Drawdown, 40% Consistency Rule, Scaling Rule, and Profit Target. In addition to these guidelines, traders must trade specific trading instruments during specific trading times.
The following table provides the specific rules applicable to Starter Evaluations, Expert Evaluations, Funded Accounts and the 30K Static Evaluation Pro and Standard Accounts:
| Rules | Starter Evaluations | Expert Evaluations | 30K Static Evaluations |
|---|---|---|---|
| Max drawdown | EOD Drawdown | EOD Drawdown | Static Drawdown |
| Minimum Trading Days | 1 day | 1 day | 1 day |
| Consistency Rule | No consistency rule on Challenge Stage | None | None |
| Scaling Plan | Traders increase their trading limits based on their profits and account size | None | None |
| Trading Times | From 06:00 PM to 04:10 PM EST | From 06:00 PM to 04:10 PM EST | From 06:00 PM to 04:10 PM EST |
| Allowed Instruments | All CME Group futures assets. | All CME Group futures assets. | All CME Group futures assets. |
1- The EOD Drawdown
The “EOD (End of Day) Drawdown” is a financial rule MFFU applies to its trading accounts. It defines the maximum allowable loss that an account can sustain from its highest value during a trading day, set at 3%.
The EOD (End of Day) Drawdown is calculated at the close of each trading day, based on the highest account balance achieved that day. For example, if the peak balance during the day is $100,000, the allowable drawdown is calculated as $3,000 (3% of $100,000). Thus, the account must not close the day below $97,000 to comply with the EOD drawdown limit.
The table below shows the Drawdown value for each account size, including the 30K Static accounts:
| Account Size | Drawdown |
|---|---|
| $50K | $2,000 |
| $100K | $3,000 |
| $150K | $4,000 |
| 30K Static Pro | $2,500 |
| 30K Static Standard | $1,500 |
2- Minimum Trading Days
The Minimum Trading Days rule at MFFU is a parameter that mandates traders to trade for at least one day. The minimum trading day requirement for all Evaluations is set at 1 day. Traders must engage in at least one day of trading activity to fulfill this requirement​​.
3- Consistency Rule
The “40% Consistency Rule” at MyFundedFutures prevents traders from relying on a few large trades for their profits by stipulating that, during the simulated funded stage, no single day’s profit can be 40% or more of the total profits. For example, if a trader has total profits of $10,000, no single trading day can result in a profit of $4,000 or more. If a trader’s total profits are $10,000, and one day’s profit is $4,500 (45%), they must continue trading until the total profits exceed $11,250, making $4,500 less than 40% of the total. This rule ensures steady trading and avoids reliance on high-risk trades.
4- Trading Hours
The trading times at MFFU are from 18:00 to 16:10 EST (06:00 PM to 04:10 PM EST). All trades will automatically close at 16:10 EST to prevent any potential account breach due to overnight trading. If a trader does not close their positions in time, the positions will be closed automatically, and the trader can continue trading the next day without any account termination​​.
5- Allowed Instruments
At MyFundedFutures, traders are allowed to trade a variety of instruments from different exchanges. The allowed instruments include:
- CME: ES, NQ, RTY, NKD, 6A, 6B, 6C, 6E, E7, 6J, 6S, GE, HE, LE, 6M, 6N, MES, MNQ, M2K, MBT, MET, M6E, M6A.
- CBOT: YM, UB, TN, ZT, ZF, ZN, ZB, ZC, ZW, ZS, ZM, ZL, MYM.
- COMEX: GC, SI, HG, MGC, SIL, PL.
- NYMEX: CL, NG, QM, QG, MCL, RB, HO​​.
What is Myfundedfutures’s Evaluation Objective?
The primary evaluation objective of MyFundedFutures (MFFU) is for traders to reach a predetermined profit target within the evaluation period. This profit target serves as a benchmark for trading success.
The table below shows the profit goal for each account size during the Myfundedfutures’s Evaluation:
| Account Size | Profit Target |
|---|---|
| $50K Starter | $3,000 |
| $50K Expert | $4,000 |
| $100K Starter | $6,000 |
| $100K Expert | $8,000 |
| $150K Starter | $9,000 |
| $150K Expert | $12,000 |
| 30K Static Pro | $4,200 |
| 30K Static Standard | $2,500 |
what are Myfundedfutures’s funded Account rules?
Myfundedfutures funded account rules or Parameters, refer to the comprehensive set of guidelines and conditions that govern trading activities within the funding process.
MyFundedFutures funded account outlines five trading parameters (rules and objectives): End of Day (EOD) Drawdown, 40% Consistency Rule, Scaling Rule, and Profit Target. In addition to these guidelines, traders must trade specific trading instruments during specific trading times.
The following table provides the specific rules applicable to Starter funded, Expert funded, and the funded 30K Static Pro and Standard Accounts:
| Rules | Starter Funded Accounts | Expert Funded Accounts | 30K Static Standard Funded Accounts | 30K Static Pro Funded Accounts |
|---|---|---|---|---|
| Max drawdown | EOD Drawdown | EOD Drawdown | Static Drawdown | Static Drawdown |
| Minimum Trading Days | 14 calendar day to get paid, and trading at least one day a week | 14 calendar day to get paid, and trading at least one day a week | 14 calendar day to get paid, and trading at least one day a week | 14 calendar day to get paid, and trading at least one day a week |
| Consistency Rule | Limits each day’s profit to 40% of the total | None | None | None |
| Scaling Plan | Traders increase their trading limits based on their profits and account size | None | None | None |
| Trading Times | From 06:00 PM to 04:10 PM EST | From 06:00 PM to 04:10 PM EST | From 06:00 PM to 04:10 PM EST | From 06:00 PM to 04:10 PM EST |
| Allowed Instruments | All CME Group futures assets. | All CME Group futures assets. | All CME Group futures assets. | All CME Group futures assets. |
What are Myfundedfutures’s funded Account objectives?
To qualify for the first withdrawal in a funded account with MyFundedFutures (MFFU), traders must achieve a minimum profit of at least $1,000, which is the minimum amount that can be requested for withdrawal. Additionally, withdrawals can be requested every 14 calendar days.
Does Myfundedfutures have a consistency rule?
Yes, MyFundedFutures has a consistency rule during the simulated funded stage. Specifically, the 40% consistency rule stipulates that the profits from any single trading day cannot equal or exceed 40% of the total profits made. If a trading day’s profits surpass this 40% threshold, the trader will not be able to withdraw profits until further trading reduces the daily profit percentage below 40% of the total profits.
Does Myfundedfutures have a scaling plan rule?
Yes, MyFundedFutures has a scaling plan rule. This rule specifies the maximum number of contracts a trader can open based on their account size and profit levels. The scaling plan details the allowable number of mini and micro contracts for different profit ranges across various account sizes ($50,000, $100,000, and $150,000). For instance, in a $50,000 account, a trader can open up to 2 mini contracts or 20 micro contracts if their profit is below $1,500. As profits increase, the number of allowable contracts also increases, with specific limits set for different profit brackets.
what are Myfundedfutures’s withdrawal/payout rules?
MyFundedFutures’s withdrawal and payout rules are designed to ensure traders can effectively manage their earnings while adhering to the platform’s guidelines. Here’s a detailed breakdown of their withdrawal/payout rules, including profit splits, withdrawal policies, methods, amounts, limits, and restrictions:
- Profit Split:
- For the first $10,000 of profits above the withdrawal threshold, traders receive 100% of the earnings; beyond the initial $10,000, traders receive 90% of the net profits after necessary deductions.
- Withdrawal Policy
- Minimum Withdrawal Amount: The minimum amount that can be requested for withdrawal is $1,000.
- Frequency: Withdrawals can be requested every 14 calendar days.
- Processing Time: Withdrawal requests are processed within 1-2 business days, and funds typically reflect in the trader’s account within 1-3 business days.
- Withdrawal Methods
- Withdrawals can be requested through Rise, which allows withdrawals to various methods such as ACH, wire transfer, or other supported payment options.
- Payout Amounts and Limits
- Buffer Zone: During the buffer zone-building phase, traders can withdraw up to 60% of their profits. If any withdrawals occur during this phase, the buffer zone resets to $0, and any remaining drawdown is lost.
- Thresholds:
- $50,000 Account: Minimum initial profit threshold of $2,000.
- $100,000 Account: Minimum initial profit threshold of $3,000.
- $150,000 Account: Minimum initial profit threshold of $4,500.
- Restrictions
- Consistency Rule: In the simulated funded stage, no single trading day’s profit should exceed 40% of the total profits made. This ensures steady and controlled trading habits.
- Account Lifespan and Withdrawals:
- For accounts under 45 calendar days: Traders receive 20% of net reserves when closing the account.
- For accounts between 46 and 90 calendar days: Traders receive 50% of net reserves when closing the account.
- For accounts over 90 days: Traders receive 90% of net reserves when closing the account.
- Additional Notes
- Buffer Zone Policy: The buffer zone-building phase restricts withdrawals to ensure traders build a stable account foundation. Any withdrawals during this phase reset the buffer zone to $0.
- KYC Process: Completing the Know Your Customer (KYC) process is mandatory before initiating any withdrawal to ensure compliance and security.
By adhering to these rules, MyFundedFutures ensures that traders can effectively manage their accounts, maintain consistent performance, and access their earnings efficiently.
Is MyFundedFutures a Regulated Company?
MyFundedFutures is a registered entity in Texas, USA, and is compliant with all necessary local and federal laws and regulations. However, MyFundedFutures is not a regulated entity like financial institutions or brokers. It operates as a private fund with a Futures Trading account under a regulated broker, meaning it does not directly offer financial services and is not subject to traditional financial regulations. Its main activities include trading its own funds and facilitating traders in a simulated paper trading environment, rewarding them based on their simulated performance. While it operates within a regulated ecosystem, MyFundedFutures itself is not directly overseen by financial regulators.
Is MyFundedFutures a legit Company?
MyFundedFutures (MFFU), established in June 2023 in the United States under CEO Matthew Leech, has a 4.7-star rating on Trustpilot based on over 509 reviews, confirming the legitimacy of MyFundedFutures. The firm offers up to 20 trading accounts with Starter and Expert Evaluations and is recognized for its quick evaluation process, responsive support, and fair profit sharing. Despite its recent launch, criticisms include limited trading options, high costs due to professional classifications, and some unclear policies.
MFFU processes payouts via RISE or cryptocurrency, requiring KYC verification, and provides a detailed FAQ section for trader inquiries. While there are concerns over its policies and restrictions, the majority of traders value the firm’s efficiency and customer service. Benefits include a streamlined evaluation process, support for multiple trading platforms, and educational resources, though it faces drawbacks like activation fees and strict trading rules. MyFundedFutures seems to be a competitive edge in the prop trading sector.
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