My Funded Futures Review: All Pros and Cons of the Prop Firm
- My Funded Futures offers a unique incentive where traders can keep 100% of their profits up to $10,000, after which it is a 90/10 split.
- It is a one-step evaluation process.
- My Funded Futures supports multiple popular trading platforms, including TradingView, Tradovate, and NinjaTrader.
- Traders can easily deposit and withdraw funds using debit/credit cards, ensuring hassle-free transactions.
- There's no limit on the number of days traders can take to complete the evaluation.
- Profits are paid out every 14 days, and withdrawals are typically processed within 24 hours.
- Traders are required to pay a monthly subscription fee to maintain access to funded accounts.
- Funding is not as direct as is possible with some other prop firms. Traders have to pass the one-step evaluation.
For aspiring traders who want to bridge the gap between simulated and real-world trading with a large amount of capital, prop trading firms offer a good opportunity.
According to our review at WR Trading, one of the best is My Funded Futures, which offers an entirely novel perspective on the trading journey through its proprietary structure and features that influence traders. We have reviewed My Funded Futures, breaking down its benefits and potential drawbacks so that you can decide whether it fits with your trading goals.
Summary from Our Expert:
3 My Funded Futures Customer Reviews And Ratings
What is My Funded Futures?
My Funded Futures is a proprietary trading firm that provides a platform for traders interested in trading futures for real without risking their own money. The firm deals only in futures trading, offering different account types with varying risk tolerances and trading styles.
My Funded Futures offers an easy-to-use platform with a simplified evaluation process. They offer two account types: Starter and Expert, each with its own rules and charges.
Starter accounts are less expensive but incur activation costs and are subject to scaling rules; with Expert accounts, there are no activation costs or scaling limits.
Is My Funded Futures Legal?
Yes, from our review of WR Trading, we discovered that My Funded Futures is a legitimate prop firm that wastes no time providing seamless trading services that best serve its clients. Although no central financial regulatory bodies regulate them, their commitment to transparency and fair play offers a reliable trading environment.
My Funded Futures is positively reviewed by many traders and experts, including authoritative websites like Trustpilot, validating its reputation as a safe and secure platform.
Prop Trading Account Types with My Funded Futures
| Account Type | Starting Capital | Profit Split | Evaluation Fee (Monthly) | Scaling Plan | Contracts |
|---|---|---|---|---|---|
| $50K Scale | $50,000 | 90% | $127 | Increases with balance | 3 |
| $100K Scale | $100,000 | 90% | $267 | Increases with balance | 6 |
| $150K Scale | $150,000 | 90% | $377 | Increases with balance | 9 |
| $50k Core | $50,000 | 90% | $77 | Increases with balance | 3 |
| $50K Pro | $50,000 | 90% | $227 | Increases with balance | 3 |
| $100K Pro | $100,000 | 90% | $344 | Increases with balance | 6 |
| $150K Pro | $150,000 | 90% | $477 | Increases with balance | 9 |
At first, traders keep 100% of their profits up to $10,000. Beyond this threshold, the profit split is a hefty 90% to the trader. Below, we break down the different trading accounts and their benefits:
$50,000 Account
Subscription Options:
- $127 monthly for a 90% profit split (Scale)
- $227 monthly for a 90% profit split (Pro)
Account Features:
- Maximum of 3 contracts (Scale) or 5 Contracts (Pro)
- $3,000 profit target (Scale/Pro)
- No daily loss limit (Scale/Pro)
- Max drawdown of $2,000 (Scale/Pro)
- First $10,000 at 100% profit
$100,000 Account
Subscription Options:
- $267 monthly for a 90% profit split (Scale)
- $344 monthly for a 90% profit split (Pro)
Account Features:
- Maximum of 6 contracts (Scale/Pro)
- $3,000 profit target (Scale/Pro)
- No daily loss limit (Scale/Pro)
- Max drawdown of $3,000 (Scale/Pro)
- First $10,000 at 100% profit
$150,000 Account
Subscription Options:
- $377 monthly for a 90% profit split (Scale)
- $477 monthly for a 90% profit split (Pro)
Account Features:
- Maximum of 9 contracts (Scale/Pro)
- $9,000 profit target (Scale/Pro)
- No daily loss limit (Scale/Pro)
- Max drawdown of $4,500 (Scale/Pro)
- First $10,000 at 100% profit
The Challenges and Costs of My Funded Futures Explained
My Funded Futures offers an attractive program for aspiring traders seeking access to greater capital. At WR Trading, we reviewed and tested accounts at My Funded Futures to prove that there is indeed a simple evaluation procedure at the core of their operations, which is designed to determine if you are eligible for a funded account.
While some prop firms require multistage evaluations, My Funded Futures offers a one-step challenge. This one-step challenge involves objectives for traders, such as hitting specific profit targets and avoiding specific drawdowns within a given time frame.
This is a rundown of my Funded Futures evaluation Program:
| Account Type | Minimum Days to Trade | Profit Target | Trailing Drawdown | Daily Loss Limit |
|---|---|---|---|---|
| $50K Scale | 1 | $3,000 | $2,000 | $0 |
| $100K Scale | 1 | $6,000 | $3,000 | $0 |
| $150K Scale | 1 | $9,000 | $4,500 | $0 |
| $50K Pro | 1 | $3,000 | $2,000 | $0 |
| $100K Pro | 1 | $6,000 | $3,000 | $0 |
| $150K Pro | 1 | $9,000 | $4,500 | $0 |
Overall, My Funded Futures offers a relatively accessible evaluation process with precise requirements and a focus on consistency. The core requirements for the evaluation revolve around achieving a set profit target within a specified timeframe.
My Funded Futures focuses on attainable goals to ensure the challenge is achievable for qualified traders. The specific profit target you need to reach will vary depending on the account size you choose.
However, it’s designed to assess your ability to generate consistent profits. My Funded Futures values consistency over a single significant win. While there’s no daily loss limit imposed, sound risk management practices remain paramount throughout the evaluation.
Promo Codes for Rebates
Our research at WR Trading revealed that My Funded Futures does not feature promo codes or rebate programs on its website. This is most likely because they operate on a flat-fee structure, with evaluation costs disclosed upfront to most traders. However, their competitive profit-sharing model makes up for it.
The Prop firm gives the first $10,000 in withdrawals strictly to the Prop trader. Then profits are split 90/10. To minimise cost, it is better to pass the evaluation on the first attempt.
Payouts on My Funded Futures
| Percentage | Payout Method | Processing Time (Business Days) |
|---|---|---|
| 100% (Up to $10,000 Profit) | Rise, Crypto | 1-3 |
| 90% (Profits After $10,000 Threshold) | Rise, Crypto | 1-3 |
The funding process is straightforward and stress-free. It takes between 1 and 3 business days to complete any withdrawal request. Traders can request their first withdrawal after 15 days of prop trading, provided they are in profit.
The profit-sharing structure is designed to reward good traders. You’ll keep 100% of your profits up to $10,000. After that, the profit-sharing model shifts to a 90/10 split, with you retaining 90% of your earnings.
The minimum withdrawal threshold is $1,000; funds are disbursed only when a substantial profit has been made. My Funded Futures emphasises the need to process a withdrawal promptly.
Any withdrawal request made Monday through Friday is processed the same day if the minimum threshold is met, and it appears in your account within 1-3 business days.
It is noteworthy that My Funded Futures has specific profit targets and maximum drawdown requirements for each account type and size. Understanding these rules before applying them is key to maximising your profitability.
Trading Platforms
My Funded Futures takes into account the fact that every trader is different, with their own preferences and needs. So, the firm has provided an array of trading platforms and potential solutions. At WR Trading, we discovered that with any of these supported platforms, you can trade in a comfortable environment that best suits your trading style.
NinjaTrader
It’s the most sought-after option among traders nowadays because it is flexible and user-friendly. It caters to both new and experienced traders with a user-friendly interface and cutting-edge tools, making it ideal for trading.
Among the numerous features offered by NinjaTrader are advanced charting and layout customisation, as well as automated trading strategies.
R | Trader Pro
R | Trader Pro does not disappoint when it comes to speed and reliability. Its fast data streams ensure you are always in sync with market movements. R | Trader Pro exposes you to the level of competence designed for premium traders who won’t make the slightest compromise regarding technology features for their trading.
The platform delivers a full suite of tools, including real-time market data, advanced charting, and fully customizable alerts.
Tradovate
Tradovate is meant for traders who appreciate simplicity but do not wish to compromise on features. The user interface is intuitive, so you will only see what is important to you, without unnecessary clutter.
Tradovate offers a broad range of features, from advanced charting tools to real-time market data to customised alerts and notifications. All things being equal, on this platform, slow order execution or undesired latencies are not in the equation.
TradingView
For users familiar with TradingView, this platform enables direct trading. It is ideal for traders who rely heavily on charting and visual tools. It offers a large number of technical indicators, drawing tools, and backtesting tools.
Quantower
Quantower is one of the rising stars in the trading platform universe. It combines the most advanced tools with a modern interface. Designed
Designed for ambitious traders seeking a potent, highly customizable platform, the software boasts advanced charting tools, real-time market data, and flexibility across research and automated trading.
Sierra Chart
Featuring some of the most solid and unparalleled strength and depth in its service, Sierra Chart is in a class of its own. It is for the trader who desires a complete trading experience.
Its professional charting software is designed with its users’ convenience in mind. It offers real-time market data and customizable alert customisation. It is also suitable for backtesting and scripting in different languages.
Other Supported Platforms
We applaud the number of trading platforms My Funded Futures provides. Aside from those discussed above, traders can also use the following platforms with this prop firm:
- DxFeed
- Quantower
- Volumetrica Trading
- Rithmic
The trading systems available on My Funded Futures are highly adaptable for traders with different backgrounds, inclinations, and experience levels.
NinjaTrader is very good for beginners, thanks to its user-friendly interface and intuitive navigation. Advanced traders may prefer other advanced platforms, such as R | Trader Pro or Sierra Chart, because they offer more functionality and a greater number of personalisation options.
Ultimately, the best trading platform for you will depend on your needs and personal preferences. We recommend exploring the available options and choosing one that best aligns with your trading style.
Which Broker is Used by My Funded Futures?
From our discovery at WR Trading, Tradovate is the major broker. Still, My Funded Futures also allows users to connect via NinjaTrader or use the trader’s software if they are already accustomed to it. This information can be found on their official website and support documentation.
This flexibility allows traders to choose the platform that best suits their trading style and preferences.
Taxes on My Funded Futures
My Funded Futures does not withhold taxes on traders’ earnings. That said, the responsibility remains on the trader to plan and set aside sufficient funds to fulfil their tax obligations.
Depending on your jurisdiction and tax laws, profits generated from prop trading may be classified as capital gains. As such, you are expected to fill in yearly tax returns and report trading income for the payment of any due taxes on resulting profits.
It is highly recommended that traders consult a tax professional to determine the tax implications of their activities.
Support and Education
My Funded Futures provides an earnest support team that helps ensure everything goes smoothly. It is crucial to be able to get the help you need when you require it.
Their primary support channels are the in-site live chat, available on their website at your convenience, and their active Discord Community. You can contact a customer support representative via live chat for account-related queries, platform usage, or any other concerns.
Their Discord community offers an invaluable platform to connect with peers and My Funded Futures correspondents. Dedicated channels exist for many topics on the Discord server, so it’s a great place to be interactive, ask questions, or share your experiences with others.
At WR Trading, we encourage you to use both support channels to get the most out of your My Funded Futures experience.
Alternatives
While My Funded Futures is an excellent opportunity for any futures trader looking to take their trading up a notch, prop trading is a very vast world. In the case that My Funded Futures isn’t right for you, here are a couple of other solid options to consider:
The Trading Pit
The Trading Pit is among the best alternatives for traders in the USA and other regions where some Prop firms are restricted. Its partnership with TradingView is well reviewed on Trustpilot, and it offers several funding options to accommodate all budgets.
With features such as low latency, no hidden fees, and multiple payment options, The Trading Pit is highly transparent and reliable.
Apex Trader Funding
Apex Trader Funding is among the most versatile prop firms, providing funding for futures and stock traders. They boast a significant level of flexibility in their profit-sharing model and allow you to retain as high as 80% of the profits made once you satisfy the relevant performance requirements.
One unique feature of Apex Trader Funding is that the prop firm allows up to 20 accounts per user to run concurrently. This provides greater scalability for your trading, thereby maximising your potential revenue.
The evaluation process is pretty simple: you need only trade for at least 7 days to qualify for funding.
5%ers
5%ers is one of the cheapest prop trading firms, offering many viable options that make it really appealing to budget traders. Offering accounts for as low as $39, 5%er offers a robust trading community and access to a wide range of markets: stocks, forex, futures, metals, indices, commodities, and cryptocurrencies. Although highly credible, it is important to note that this Prop firm is not available to US traders.
Leeloo
Leeloo is an innovative prop firm with various account types that serve different traders based on their trading style and financial standing. Whether you are on a tight budget or seeking serious funding, Leeloo has a suitable option for you.
Some of these accounts have recurring fees, while others have just a one-time payment, thereby providing flexibility. Leeloo is open to US-based traders, and it offers an extensive selection of trading instruments.
Conclusion
My Funded Futures is a prop trading firm that offers a unique, attainable way to fund trading through a one-time evaluation process, where consistency and risk management weigh most heavily.. My Funded Futures levels the playing field for the aspirational trader.
On the website, it is clear that the firm is interested in its clients’ success through transparent information, an incentivised profit split, and excellent support channels. We recommend MFFU because your chances of success in the competitive trading space increase when you partner with this Prop firm. Please take advantage of the tools and the community that Funded Futures offers to level up your futures trading.
Frequently Asked Questions on My Funded Futures:
Is There a Minimum Trading Time Requirement for the Evaluation?
No, My Funded Futures does not impose a minimum trading time requirement during the evaluation process. This flexibility allows traders to qualify for funding in as little as one day, potentially, provided they meet the profit target and adhere to the trading rules. This approach empowers traders to move at their own pace, whether they prefer a quick assessment or a more cautious approach.
Can I Withdraw My Profits Immediately After Passing the Evaluation?
Yes, you can request your first withdrawal after completing your first 15 days of prop trading with My Funded Futures. This initial period is designed to ensure that both the trader and the platform are aligned with the terms of the funding agreement. After this period, you can withdraw your profits by following the platform’s withdrawal policy, which typically involves a simple process for requesting a payout.
Can I Use My Trading Platform With My Funded Futures?
Yes, you can use your preferred trading platform with My Funded Futures. While Tradovate and NinjaTrader are the platform’s primary options, it is also compatible with other popular trading software. This allows you to trade in a familiar environment and utilise the tools and features you are most comfortable with, ensuring a seamless trading experience.
Are There Any Hidden Fees or Charges Associated With My Funded Futures?
No, My Funded Futures maintains a transparent fee structure with no hidden costs. All fees are clearly outlined, including evaluation fees and data fees. However, depending on the trading platform you choose or whether you require access to additional services like Level 2 Data, there may be separate fees. It’s always recommended to review the platform’s pricing page or consult customer support for specific details.
How do I Get Started With My Funded Futures?
Getting started with My Funded Futures is straightforward. First, visit their website and create an account by providing the required information. Next, select the evaluation program that best suits your trading goals, then complete the registration. Afterwards, you’ll need to pass the evaluation by demonstrating your trading skills and adhering to the risk management rules. Once you pass the assessment, you will be eligible for a funded account, which will allow you to trade with the platform’s capital and earn a share of the profits.
Resources
- https://www.investopedia.com/terms/s/short-term-gain.asp
- https://myfundedfutures.com/?ref=3145&gad_source=1&gclid=Cj0KCQjwz7C2BhDkARIsAA_SZKZLnTScR10WMpS_ernFv09Sgk3cNGelPsZpU9LGBzP5ym1UnOjJkbUaApQrEALw_wcB
- https://help.myfundedfutures.com/en/
- https://help.myfundedfutures.com/en/articles/8406827-scaling-plan
