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 in regards to simulated and real-world trading with large capital, prop trading firms offer a good opportunity.
According to our review at WR Trading, one of the best among them seems to be My Funded Futures, which has a completely novel perspective on the trading journey, regarding its proprietary structure and features that influence the 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:
1 My Funded Futures Customer Reviews And Ratings
What is My Funded Futures?
My Funded Futures is a proprietary trading firm that provides the facility for every trader interested in trading futures for real without risking their 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 provide two types of accounts: Starter and Expert, each with specific rules and charges.
Starter accounts are less expensive but come with activation costs and are subject to some scaling rules, but with Expert accounts, no activation costs or scaling limits apply.
Is My Funded Futures Legal?
Yes, from our review at WR Trading, we discovered that My Funded Futures is a legitimate prop firm and they waste no time providing seamless trading services that best serve their clients. Although they are not regulated by any of the big financial regulatory bodies, their commitment to transparency and fair play provides a reliable trading environment.
My Funded Futures is positively reviewed by many traders and experts, including authority 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 Starter | $50,000 | 90% | $80 | Increases with balance | 3 |
| $100K Starter | $100,000 | 90% | $150 | Increases with balance | 6 |
| $150K Starter | $150,000 | 90% | $220 | Increases with balance | 9 |
| $50K Expert | $50,000 | 90% | $165 | Increases with balance | 5 |
| $100K Expert | $100,000 | 90% | $265 | Increases with balance | 10 |
| $150K Expert | $150,000 | 90% | $375 | Increases with balance | 15 |
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:
- $80 monthly for a 90% profit split (Starter)
- $165 monthly for a 90% profit split (Expert)
Account Features:
- Maximum of 3 contracts (Starter) or 5 Contracts (Expert)
- $50 balance reset (Starter) or $165 balance reset (Expert)
- $3,000 profit target (Starter) or $4,000 profit target (Expert)
- $1,200 daily loss limit (Starter) or $0 daily loss limit (Expert)
- $2,500 trailing drawdown (Starter) or $2,000 trailing drawdown (Expert)
- First $10,000 at 100% profit
$100,000 Account
Subscription Options:
- $150 monthly for a 90% profit split (Starter)
- $265 monthly for a 90% profit split (Expert)
Account Features:
- Maximum of 6 contracts (Starter) or 10 contracts (Expert)
- $70 balance reset (Starter) or $265 balance reset (Expert)
- $6,000 profit target (Starter) or $8,000 profit target (Expert)
- $2,400 daily loss limit (Starter) or $0 daily loss limit (Expert)
- $3,500 trailing drawdown (Starter) or $3,000 trailing drawdown (Expert)
- First $10,000 at 100% profit
$150,000 Account
Subscription Options:
- $220 monthly for a 90% profit split (Starter)
- $375 monthly for a 90% profit split (Expert)
Account Features:
- Maximum of 9 contracts (Starter) or 15 contracts (Expert)
- $100 balance reset (Starter) or $375 balance reset (Expert)
- $9,000 profit target (Starter) or $12,000 profit target (Expert)
- $3,600 daily loss limit (Starter) or $0 daily loss limit (Expert)
- $5,000 trailing drawdown (Starter) or $4,500 trailing drawdown (Expert)
- First $10,000 at 100% profit
The Challenges and Costs of My Funded Futures Explained
My Funded Futures has an attractive program for new aspiring traders in search of 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, that 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 certain objectives for traders, such as hitting certain profit targets and avoiding certain 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 Starter | 1 | $3,000 | $2,500 | $1,200 |
| $100K Starter | 1 | $6,000 | $3,500 | $2,400 |
| $150K Starter | 1 | $9,000 | $5,000 | $3,600 |
| $50K Expert | 1 | $4,000 | $2,000 | $0 |
| $100K Expert | 1 | $8,000 | $3,000 | $0 |
| $150K Expert | 1 | $12,000 | $4,500 | $0 |
Overall, My Funded Futures offers a relatively accessible evaluation process with clear 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 large 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 most likely is because they operate on a flat-type fee structure, with evaluation costs being 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 minimize 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 incredibly simple and stress-free. It takes between 1-3 business days to complete any withdrawal request. Traders can ask for their first withdrawal after their first 15 days of prop trading, assuming 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 profits.
The minimum withdrawal threshold is $1,000, ensuring that only when a substantial amount of profit has been made, can the money be disbursed. My Funded Futures puts much emphasis on the need to process a withdrawal as soon as possible.
Any withdrawal request between 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 certain specifications for profit targets and maximum drawdowns for each account type and size. Understanding these rules before applying them is key to maximizing your profitability.
Trading Platforms
My Funded Futures takes into account the fact that every trader is different, having their 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 of the options by traders nowadays because it is flexible and friendly. It caters to both new traders and expert traders with a user-friendly interface and cutting-edge tools that make it ideal for trading.
Among the numerous features offered by NinjaTrader are advanced charting and layout customization, and even 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 that include real-time market data, advanced charting, and completely 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 encompasses a broad spectrum of features, from advanced charting tools through real-time market data to customized 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 very ideal for traders who greatly rely 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.
Essentially designed for the ambitious trader who desires a potent, highly customizable platform, the software boasts advanced charting tools, the inclusion of real-time market data, and flexibility in different areas like 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 user’s convenience in mind. It offers real-time market data and alerts customization. It is also good 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, with its user-friendly interface and undemanding navigation. Advanced traders may prefer other advanced platforms, such as R | Trader Pro or Sierra Chart because they have more functionality and a larger number of personalization options.
Ultimately, the best trading platform for you will depend on your needs and personal preferences. We recommend you explore the options available and go with one that aligns best with your trading style.
Which Broker is Used by My Funded Futures?
From our discovery at WR Trading, Tradovate is the major broker, but My Funded Futures also provides the choice to connect via NinjaTrader or use the trader’s software if users 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 being said, the responsibility is still on the trader to ensure they 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, which can be found on their website at your convenience, and their active Discord Community. Direct contact with a customer support representative is possible through the live chat feature if you need some assistance with account-related queries or queries regarding platform usage or have any other concerns.
Their Discord community offers an invaluable platform to connect with peers and My Funded Futures correspondents. Dedicated channels exist for a lot of topics in 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 a great 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 positively reviewed on TrustPilot and it offers several funding options that accommodate all budget levels.
With features such as low latency, no hidden fees, and options for multiple modes of payment, The Trading Pit is highly transparent and reliable.
Apex Trader Funding
Apex Trader Funding is among the most versatile prop firms out there, 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, running concurrently. This provides greater scalability for your trading and thereby maximizes 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 with a lot of viable options, so it really appeals to the budget trader. 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, which serve different traders based on their trading style and financial standing. Whether you are on a tight budget or looking for serious funding, Leeloo has a befitting option for you.
Some of these accounts have recurring fees, while some 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 provides a unique and attainable way to fund trading. With one-time evaluation in a unique 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 the success of its clients with the transparency of information, incentivized profit split, and excellent support channels provided. We recommend MFFU because your chances of success in the competitive trading space go up when you partner with this Prop firm. Take advantage of the tools and the community that my 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 potentially qualify for funding in as little as one day, 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 following the platform’s withdrawal policy, which typically involves simple steps to request a payout.
Can I Use My Trading Platform With My Funded Futures?
Yes, you have the flexibility to use your preferred trading platform with My Funded Futures. While Tradovate and NinjaTrader are the primary options offered by the platform, it is also compatible with other popular trading software. This allows you to trade in a familiar environment and utilize 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 if you require access to additional services like Level 2 Data, there might be separate fees associated. 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 suits your trading goals and complete the registration. Afterward, you’ll need to pass the evaluation by demonstrating your trading skills and adhering to the risk management rules. Once you pass the evaluation, you will be eligible for a funded account, allowing 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
