My Funded Futures Review 2024: Profitable Opportunities or a Sham?
In today’s modern age, trading has been made easier with the help of prop firms, AI-powered tools, trading journals, and more. But using these tools doesn’t ensure success and it’s up to you to dedicate your time to learn about trading overall and how it works.
To make one thing clear right away, proprietary trading isn’t risk-free, instead, there is even a bigger risk than when you’re trading with your own capital. That said, our My Funded Futures review presents a prop firm that might be worth investing in, so keep reading to find out.
About My Funded Futures
MyFundedFutures is a part of MyFundedFX and while the information about the company is mostly hidden, we were able to pull up some crucial details. According to WHOIS, the domain was registered only recently, in the United Kingdom. The owner’s details are hidden and there is no information about the team who works in this company.
The lack of transparency is obvious so far, and once we checked ScamAdviser, the website seems to have a high and suspicious number of reviews. Unlike Equithy which has a very low trust score, MyFundedFutures still keeps it reasonable.
As we delved further into this My Funded Futures review, we expected to find more details about this firm but the only thing we found is a huge and consistent lack of transparency.
|MyFunded Futures LLC
|Hayes, Middlesex, GB
|Financial Authorities Warnings
|If a withdrawal is possible
|If Active on Social Media:
|United States, India, Canada, United Kingdom, Turkiye;
|90% profit split;
Prop firms are not required to be regulated because what they mostly do is let you trade in a simulated platform where you don’t deposit your funds. Plus, they’re not the ones dealing with your funds even if you deposit, so there is no reason for them to obtain a license.
However, the regulatory status falls onto the brokerage this prop firm is partnered with. If you get paired with an unregulated broker, there are too many risks to consider before you proceed. Unfortunately, there is no information about who My Funded Futures works with.
My Funded Futures Features
You trade with the firm’s capital and after you prove your trading skills and pass the evaluation process, you will receive a funded trading account. The first 10k of profits are yours to keep, and after that, the profit split is 90% for you and 10% for the prop firm.
Additionally, you can stay up-to-date with market insights and use your new confidence to navigate the market, use analysis tools and insights, and the trader toolbox is an amazing choice for making informed decisions. The firm equips you with top-notch risk management tools and guidelines and you can connect with the vibrant trading community on Discord.
You can enjoy the perks of becoming a funded trader and unlimited trading days on all plan types and phases. The trading platforms are well-known and popular, which include TradingView, Tradovate, and NinjaTrader.
My Funded Futures Plans
There are two accounts to choose from: Expert and Starter. The Expert account is a tailored plan for professional experts and it includes extra max DD on a 50k account size, payout every 14 calendar days, no minimum trading days, no scaling, no activation fees, and no consistency rules for both challenge and sim funded accounts.
The Starter account is perfect for beginners who are eager to try prop trading. It includes low-profit targets, extra max DD on 50k account size, no daily drawdown limits, no consistency rule on the challenge stage, no minimum trading days, only $100 for an account reset, and cheaper costs.
My Funded Futures Funded Account
For the Starter account, a $100/month subscription is required, and an activation fee of $149. For the Expert account, $165/month and no activation fee is required.
The Starter account requires a fee of $149 upfront and a $200/month subscription, while the Expert account is without fees and requires a $265/month subscription.
For the Starter account, you can expect to pay the fee of $149 once again and later pay $300/month, while the Expert account is cost-free and requires a $375/month payment.
My Funded Futures Reviews
There are over 120 comments on Trustpilot about My Funded Futures prop firm and the majority of the comments seem to be positive. Considering the firm was established only recently, the number of reviews is highly suspicious. Either way, let’s delve into the comments, shall we?
According to some traders, the Discord community is not as it seems. You get blocked from accessing the server without any warning and the community itself isn’t as helpful. The customer service is also badly presented as it does not help traders with their queries.
Other comments are all 5-star reviews, so relying on them might not be the best choice. Unfortunately, it seems like MyFunded Futures faked most of their 5-star comments and that is a huge red flag.
Payment Options and Process
A refund applies only to traders who have purchased an account and have not initiated any trading activities. The refund shall be the amount paid by the trader minus a $75 fee, attributed to non-recoverable technology and market data fees incurred by MFFU.
Withdrawals are available after 14 days and requests will be processed in Deel within 24 hours. For the first 45 days, no withdrawal may exceed the dollar value of your max drawdown based on your starting balance. This applies to the Starter account as there are no withdrawal restrictions on Expert plans.
After the first 45 days, that account is eligible for uncapped payouts. Typically, most firms have a 90-day period where they cap withdrawals based on your drawdown. The available payment options include credit cards, PayPal, e-wallets, and wire transfers.
Can I Make Money While Trading Online?
Overall, this prop firm isn’t the worst choice you will make but it isn’t the best either. There are no scam reports and you get to keep 90% of your profits but that comes with the price of paying them a monthly subscription. But be careful who you trust because you certainly don’t want to end up with someone like Swe CSM.
If you really want to empower your trading experience, start using AI-powered tools to assist you. While profits are not guaranteed, you will certainly boost your chances. Speaking of such tools, AI.Fundevity turns raw data streams into trading opportunities in the blink of an eye.
It can process billions of data points, which include past statistics, indicators, and current market news. It provides insightful recommendations and all you need to know is to implement them. These are just some of the many features you will experience with this bot and for 14 days, you can try it completely for free, with no commitment.
What is My Funded Futures?
It’s a prop firm that offers funded trading accounts to traders after an evaluation process and provides access to various trading tools and platforms.
Is My Funded Futures a Legit Prop Firm?
There are mixed reviews regarding its services, particularly concerning the Discord community and customer support. Finding a more reliable alternative might be a better choice.
Can I Make Money With My Funded Futures?
Success is not guaranteed and traders should carefully consider the monthly subscription fees and the firm's overall offerings before trading.