MyFundedFutures Review 2024

MyFundedFutures Review 2024

What is MyFundedFutures?

MyFundedFutures is a proprietary trading firm providing traders with the opportunity to trade futures using simulated funds, thereby precluding the need to use their own capital and risk losing it. Traders who do well in the firm’s evaluation phase will receive up to $600,000 in funding to trade the futures market and can withdraw profits every two weeks.

MyFundedFutures is affiliated with MyFundedFX, which boasts an impressive track record over a number of years operating in the forex market. MFFU prop firm is an obvious next step and seems as if it will share not just its sister company’s operating model, but also its tradition of excellence in the trading sphere.

From funding allocations and account options through to the trading platforms MyFundedFutures works with, the firm is clear about prioritising transparency and ensuring its funding framework works in harmony with the needs of its traders. Traders partnering with the firm also benefit from a generous 90% profit share (and that’s after getting to keep 100% of the initial $10,000 generated in profit).

Keep reading to get a more detailed picture of how MyFundedFutures works (including pricing, rules, and trading platforms) as well as why we consider the firm to be an industry-leader.

Why MyFundedFutures Stands Out

MyFundedFutures (MFFU) is shaking up the futures prop trading world with innovative features. Their streamlined one-step challenge boasts a near 25% pass rate, and their trader support as well as their payouts are some of the fastest in the industry. These are just a few reasons we believe MFFU is a serious competitor to established players like Topstep and Apex Trader Funding.

In this in-depth review, we’ll explore everything you need to know about MyFundedFutures, including:

• Why they might be the best option for aspiring futures prop traders

• How their challenge process compares to others

• Their industry-leading payout speeds

MyFundedFutures Evaluation Explained

MyFundedFutures have three different account sizes to choose from. There are Starter and Expert versions of each account size, with Starter accounts involving smaller profit targets, but a scaling rule, while Expert accounts have bigger profit targets, but no scaling (meaning you can trade with the full number of contracts from day one).

The other key difference between the two versions is that Starter Accounts are priced lower to begin with, but entail an activation fee, whereas Expert accounts are more expensive initially, but don’t require any additional charges thereafter. It’s also important to note that maximum withdrawals for Starter accounts are limited during the initial two months. Expert accounts don’t have any such maximum. To decide which plan will be the best fit for you, take a look at the details below. You can also find out more on the MyFundedFutures FAQ page.

Starter Account

MyFundedFutures believes that a trader’s success relies on their ability to develop their skills without limitations. MyFundedFutures aims to support this development by providing simulated funding stages that lead to live funding opportunities. They are committed to giving every trader the chance to succeed.

The Starter Plan is designed to help traders develop a mindset focused on gradually growing their account. It is important to note that there are no consistency rules in the evaluation stages. So, it is considered to be a one-day-pass evaluation process

Benefits of the Starter Account

Easiest Path to Live Funding: MyFundedFutures seeks consistent traders who can potentially qualify for their proprietary funding methods.

Potential Weekly Payouts: After meeting the five-day winning requirement, traders can receive payouts. The payout amounts are:

• $100 (for a 50K account)
• $200 (for a 100K account)
• $300 (for a 150K account)

Daily Loss Limits: These predetermined limits help ensure you have the opportunity to recover from losses and survive in the markets. They do not disqualify your account.

Competitive Pricing: MyFundedFutures offers a low barrier to entry with some of the most competitive prices in the market.

No Buffer Zone: MyFundedFutures has eliminated the buffer zone concept in their starter plans! This means that as soon as you achieve 5 profitable trading days, you become eligible for a payout. At this point, your drawdown amount is adjusted to your account balance + $100.

Starter Account Parameters

Parameters	Starter 50K	Starter 100K	Starter 150K
Profit Target	$3,000	$6,000	$9,000
Maximum Loss Limit	$2,500	$3,500	$5,000
Daily Loss Limit	$1,200	$2,400	$3,600
Price	$80	$150	$220
Reset	$50	$70	$100
Max Contract	3 minis	6 minis	9 minis
Scaling	Yes	Yes	Yes
Consistency	40%	40%	40%
Qualification for Payouts	5 winning days of $100/ possibility of weekly payouts	5 winning days of $200/ possibility of weekly payouts	5 winning days of $300/ possibility of weekly payouts
Withdrawal Limit	Up to $1,200 for each payout until 30 winning days or $6,000 in payouts achieved. After the first payout, Maximum Loss Limit moves to $50,100	Up to $2,400 for each payout until 30 winning days or $12,000 in payouts achieved. After the first payout, Maximum Loss Limit moves to $100,100	Up to $3,600 for each payout until 30 winning days or $18,000 in payouts achieved. After the first payout, Maximum Loss Limit moves to $150,100
Live Funding	Static Account with $2,500 in balance. Eligible after 30 winning days or $6,000 in payouts	Static Account with $3,500 in balance. Eligible after 30 winning days or $12,000 in payouts	Static Account with $5,000 in balance. Eligible after 30 winning days or $18,000 in payouts
Profit Split	90/10 after $10,000 in withdrawals	90/10 after $10,000 in withdrawals	90/10 after $10,000 in withdrawals
Activation Fee	None	None	None

Withdrawal Limitations for Starter Sim Funded Plans

To ensure solid capital standing and a safety net for transitioning to live funding stages, there are limitations on withdrawals:

Account Size	Max Payout after 5 Winning Days
50K Account	$1,200
100K Account	$2,400
150K Account	$3,600

After accumulating 30 winning days or reaching the maximum payouts in the sim funding stages you will be moved to a live account with even more freedom!

The Scaling Plan: Ensuring Safe Growth

The scaling plan is implemented to prevent over-leveraging and to promote consistent account growth. Known as the Piggy Bank method at MyFundedFutures, it allows you to scale micros, enabling easy partials and daily account growth.

Account Size	50K Starter Plan	100K Starter Plan	150k Starter Plan
Below $1,000	1 mini – 10 micros	2 minis – 20 micros	2 minis – 20 micros
$1,000 – $2,000	2 minis – 20 micros	3 minis – 30 micros	3 minis – 30 micros
$2,000 – $3,000	3 minis – 30 micros	4 minis – 40 micros	4 minis – 40 micros
$4,000 – $6,000	–	6 minis – 60 micros	6 minis – 60 micros
Above $6,000	–	–	9 minis – 90 micros

The Starter Plan aims to provide a solid foundation for your trading career. Achieving consistent success for 30 trading days with a starter account will qualify you for a live funding account, marking a significant milestone in your trading journey.

MyFundedFutures Expert Plans

Why Choose Expert?

• No Intraday Trailing Drawdown
• No Activation Fee
• No Withdrawal Cap
• No Scaling Contracts
• No Consistency Rule

In the event that you need to reset your account, such as for breaching a rule during the evaluation process, you can opt for a reset. This costs $100 for Starter accounts, and between $165 and $375 (contingent on account size) for Expert accounts. The reset fee helpfully removes the need to cancel your account and reapply. It differs from the monthly account resets available with your subscription, which cater to traders who prefer not to wait until their billing period ends.

Static 30K Account

MyFundedFutures is the leading trading evaluation platform in the industry. The 30K Static Account offers traders a fixed drawdown that never changes, allowing full payouts after 60 days (minus $1) without losing the account. This unique feature is designed for traders’ benefit.

Types of Accounts in the 30K Static Evaluation Plan

• 30K Static Evaluation Pro Account
• 30K Static Evaluation Standard Account

30K Static Pro Account The 30K Static Pro version is now available. This account maintains a maximum static drawdown of $2500, providing traders with greater confidence during both the evaluation and Sim Funded stages.

• Profit Target: $4200
• Contracts: Up to 2 mini contracts and 20 micro contracts
• Consistency Rule: None during Sim Funded stages
• Withdrawal Cap: $2500 for the first 60 days
• Payout Frequency: Every 14 days

30K Static Standard Account The Standard Static Account has been enhanced to better support traders.

• Profit Target: $2500
• Static Drawdown: $1500
• Contracts: Up to 1 mini and 10 micro contracts

These changes ensure traders are not limited by an end-of-day drawdown. The adjustments facilitate successful evaluation completion and a smooth transition to live accounts.

• Consistency Rule: None during Sim Funded stages
• Withdrawal Cap: $1500 for the first 60 days
• Payout Frequency: Every 14 days

Why Choose the Static Account?
The Static Account offers the best growth potential in the industry. By trading conservatively to build a buffer, traders unlock compounding potential. With a fixed drawdown, traders can stay in the market longer without worrying about trailing drawdowns.

Keeping Payouts in Your Pocket
Static Accounts are designed for traders transitioning to Sim Funded accounts. Once traders reach Sim Funded status, they don’t need to worry about buffers or consistency rules. Traders can trade $1000 for 14 days and then be eligible for payouts.

Features of the 30K Static Account

• No Consistency Rules: Traders can trade freely with the allowed lot size when their setup forms.

• No Payout Restrictions After 60 Days: For the first 60 days, there is a payout cap, but afterward, traders can withdraw the full amount, leaving only $1.

• No Activation Fees: No activation fee is required. Once the funding team reviews the account, trading can commence.

30K Static Account Pro and Standard – Feature Comparison

Feature	30K Static Pro	30K Static Standard
Profit Target	$4200	$2500
Static Drawdown	$2500	$1500
Contracts	2 minis / 20 micros	1 mini / 10 micros
Payout	$2500 every 14 days after 60-day cap removed	$1500 every 14 days after 60-day cap removed
Activation Fees	None	None
Profit to Drawdown Ratio	8% DD / 14% Profit Target	5% DD / 8% Profit Target
Pricing	$500/month	$300/month

Permitted Products and Trading Times
Traders can trade the same products and times as other accounts in the program.

Explanation of Drawdown

Day	PNL	Drawdown	Maximum Drawdown	Account Balance
1	$200	$1700	$28,500	$30,200
2	$700	$2400	$28,500	$30,900
3	-$500	$1900	$28,500	$30,400
4	$1000	$2900	$28,500	$31,400

This table illustrates the trading conditions of the Static Account, showing how momentum is rewarded and how manageable drawdowns are during challenging periods.

Getting Funded with MyFundedFutures

Traders who pass MyFundedFutures’ evaluation, which entails just one stage, qualify for funding. This means they can start trading with real capital and retain 100% of the first $100,000 they generate in profits using this capital. The profit share thereafter is 90%.

As funded traders are classified as professionals, they enter into a contractual agreement with the exchanges they trade for executing orders, meaning they take responsibility for the data fees charged by CME, CBOT, NYMEX and COMEX. The fee for each exchange typically falls within the range of $116 to $132. These costs can accumulate significantly, especially for traders trading several exchanges.

MyFundedFutures Trading Platforms

Like many other prop firms, MyFundedFutures gives traders a choice between Rithmic and CQG (Tradovate) platforms. While the platforms have their own pros and cons, there is actually considerable overlap between the two since Tradovate was bought by NinjaTrader. The Tradovate software is particularly appealing to some traders, while others prefer NinjaTrader with Rithmic connection. The general advice for traders who are uncertain about which option is best for them is to go for the CQG/Tradovate platform.

MyFundedFutures also permits the use of third-party software like Jigsaw DayTradr and Bookmap. These can be connected to either NinjaTrader/Rithmic or Tradovate/CQG.

Making the Right Choice

When deciding on a trading platform, it’s not just about the features but how they align with your trading goals and strategies. Here are some key factors to consider:

• Trading Goals: Are you a day trader, swing trader, or a long-term investor? Different platforms cater to different trading styles.
• Experience Level: Some trading platforms are more beginner-friendly, while others offer advanced tools for seasoned traders.
• Preferred Trading Instruments: Ensure the platform supports the instruments you trade, be it futures, forex, or stocks.
• Integration and Compatibility: If you use third-party tools or indicators, ensure they’re compatible with your chosen platform.

In conclusion, the right platform can significantly enhance your trading experience. Take your time to explore each platform’s features and capabilities. Remember, it’s not about which trading platform is the best, but which is the best for you.

What Products and Exchanges can I trade?

MyFundedFutures provides access to the following range of futures contracts:

• CME Exchange (ES, NQ, RTY, MES, MNQ, M2K, NKD, 6A, 6B, 6C, 6E, E7, 6J, 6S, GE, HE, LE, MBT, MET, M6E, M6A, 6M, 6N)
• NYMEX Exchange (CL, QM, MCL, HO, NG, QG, RB, PL)
• COMEX Exchange (GC, HG, SIL, SI, MGC)
• CBOT Exchange (YM, MYM, ZN, ZW, ZL, UB, ZT, ZB, ZS, TN, ZF, ZC, ZM)

MyFundedFutures Evaluation Process

MyFundedFutures’ evaluation process requires that traders adhere to the rules listed below. These can be a lot to take in at first, especially for traders with less experience in the prop trading industry, so it’s a good idea to examine MyFundedFutures’ website, and their FAQ page in particular, as well as reading through our summary.

• There isn’t any consistency rule, and traders can pass the evaluation with as little as one day’s trading.
• Don’t exceed the End of Day drawdown limit.
• For Starter accounts, stick to the scaling plan below (Expert accounts don’t have any scaling):

	$50,000	$100,000	$150,000
$ Profit Made:	Contracts:	Contracts:	Contracts:
Below $1,500	2	3	3
$1,500 – $2,000	3	4	4
$2,000 – $3,000	5	5	5
$3,000 – $4,000	5	10	10
$4,001 and over	5	10	15

Understanding Your Funded Account Rules

In this section we outline the rules for traders once they qualify for funding with MyFundedFutures. In essence, Starter accounts feature a scaling plan, whereas Expert accounts don’t. Both account types cap End of Day drawdown at your starting balance plus $100. A trader with a $50,000 account, for example, would have a maximum permissible End of Day drawdown of $50,100, regardless of how much profit is accrued.

Starter Accounts:

• End of Day drawdown is capped at starting balance plus $100.
• Scaling rules apply to funded accounts (just like evaluation accounts). The Evaluation section earlier in the review outlines these rules.
• Profits from a single trading day cannot exceed 40%.

Expert Accounts:

• End of Day drawdown is capped at starting balance plus $100.
• There are no scaling rules.
• There are also no consistency rules.
• Funded account fees are incurred.

The activation fee for Starter accounts of any size is $149, while there is no charge for Expert accounts. Do take this into account when selecting your account type, as though Starter accounts may look like a better deal at first, taking into account the activation fee may alter this.

Different Rules

We’ll now look at MyFundedFutures’ rules in a bit more detail – but not before reiterating that you should also consult the firm’s FAQ page to make sure you’ve thoroughly understood everything you need to know and can trade successfully.

Consistency Rule

There isn’t any consistency rule during the evaluation process, but once you start trading with simulated funding, a consistency rule of 40% comes into effect for Starter accounts (Expert accounts are exempt from such a consistency rule). The rule stipulates that the profits generated in a single trading day must not equal or exceed 40% of overall profits. Failing to comply with the rule means that you won’t be allowed to withdraw any profits. While your account won’t be breached, you’ll have to keep trading and generating profits until each day contributes less than 40% of your total profits.

Maximum Drawdown

Unlike many other prop trading firms, MyFundedFutures doesn’t impose a daily drawdown limit, relieving traders of the constant pressure of daily drawdowns impacting their accounts. Instead, the firm has a maximum End of Day (EOD) drawdown, set at 3%, capped at the account’s starting balance plus $100. So a $50,000 account has a maximum EOD drawdown of $51,600, while for a $150,000 account it is $154,600.

Contract Sizing

For each account size, the number of contracts available to buy or sell is restricted to the following:

• $50,000 account – 5 contracts
• $100,000 account – 10 contracts
• $150,000 account – 15 contracts

These limits apply to both micros and minis, regardless of contract type, and don’t include a scaling plan. Starter plans also have a 1:10 scaling option for micros.

Multiple Accounts

Traders partnering with MyFundedFutures can have up to ten accounts at one time. Evaluations which you fail aren’t included in your maximum number of accounts. In other words, if you have ten accounts and fail one, you can still open another.

The rules for funded accounts are more stringent: you can hold a maximum of three simulated funded accounts and one live funded account. Passing another evaluation while you already have the maximum of three simulated funded accounts means the new account will only be created when one of your existing simulated funded accounts either fails or advances to a live account.

MyFundedFutures Withdrawals

Withdrawals are restricted by a maximum limit determined by your starting balance and the maximum drawdown percentage for the first 60 days of Starter funded programs. A trader with a $50,000 account with a 4% maximum drawdown, for instance, can only request withdrawals of up to $2,000 every fortnight. However, following this two-month period, payouts are completely unlimited – a major advantage of MFFU, as lots of other prop firms limit withdrawals based on your drawdown for at least 90 days.

Expert plans have no constraints on withdrawals, aside from the requirement that they only be requested once every two weeks.

In summary:

Payout Amount:
Traders keep all of the profits they generate up to $10,000. After this the profit split is 90/10.

Starter Accounts:
During the initial 60 days, withdrawal amounts are capped at the maximum drawdown of your account. For instance, a $50,000 account with a $2,000 maximum drawdown implies that withdrawals cannot exceed $2,000 during the first 60 days. After this period, you can request payouts without limitations.

Expert Accounts: 
There aren’t any restrictions on withdrawals, which can be requested straight away from day one.

Both Starter and Expert Accounts:
Withdrawals can be requested once every two weeks.

Customer Service

Getting in touch with MyFundedFutures’ customer service team is an entirely stress-free experience for traders, with numerous ways to access support. Account-related issues, like billing and trading platforms, are most easily addressed through the Live Chat feature, which can be found on the bottom right-hand side of the firm’s website. Another option is the MyFundedFutures Discord channel, an extremely useful platform where traders can interact with their peers in a dynamic trading community providing advice on how MyFundedFutures operates, as well as more general discussion on everything traded-related, from the best strategies to the latest market news.

The Intercom FAQ Help Desk contains a wealth of answers to the most common queries, making it a fast and accurate way to resolve many of the issues you might experience. The firm recommends always making this your first port of call before exploring other support channels to save yourself time.

At the time of writing, Thursday April 4, 2024, MyFundedFutures Trustpilot boasts an outstanding rating of 4.9 out of 5, aggregated from over 375 reviews. The almost entirely favourable comments highlight the firm’s incredibly helpful customer support, as well as its excellent range of products.

Security

MyFundedFutures operates as a futures proprietary trading firm rather than a brokerage platform, which removes the need for regulation or licensing by financial regulators to operate. Its trading platforms are supplied by major financial technology companies, each governed by rules and regulations ensuring the protection of traders’ data and funds. The firm adheres strictly to Know Your Customer (KYC) procedures for customer identity verification, which reduces the risk of identity fraud and other illegal activities.

To safeguard customers’ data from unauthorised access, MyFundedFutures has put sophisticated encryption practices in place. While the firm collects personal information during registration and account setup, it is exclusively used to improve the service you receive, and for marketing purposes. Your data won’t be shared or sold to third parties unless required by law or with your approval. The firm’s privacy policies are available for further clarification on how your data is looked after.

User Experience

MyFundedFutures stands out on all fronts, so it should come as no surprise that it also provides an excellent user experience. Its diverse range of challenge plans, account sizes and trading platforms cater to all sorts of futures traders, with a variety of trading styles, objectives, budgets, and appetites for risk.

The prop firm’s emphasis on transparency is clear when it comes to pricing: fees are clearly explained, with no surprise charges at any point. Traders’ trust in MyFundedFutures is thus naturally strong.

Registering with MyFundedFutures is straightforward, with a one-stage evaluation that asks traders to demonstrate their trading skills and consistency, and ability to manage risk and stick to the rules. This is followed by a simulated funded stage, in which traders’ consistency is assessed while enabling them to withdraw payouts, and then finally live funding.

In this final stage, the highpoint of trading with MyFundedFutures, traders are given access to real capital. As it mirrors real-world trading situations, it’s important that traders employ sophisticated strategies for success in the long run, as well as developing the emotional discipline to stick to these strategies even in stressful situations.

All in all, MyFundedFutures’ thoughtfully crafted structure prepares traders to succeed in the futures market, at the same time as benefitting from an exceptionally generous profit share and responsive customer service that further improves an already impressive user experience.

MyFundedFutures Pros & Cons

Conclusion

MyFundedFutures easily ranks as one of the proprietary trading industry’s best futures firms, making it a compelling choice for aspiring traders aiming for financial independence through the development of robust risk management practices. The firm’s profit split is generous towards its traders, allowing them to retain a substantial portion of the profits they generate. The one-stage evaluation, with neither a daily loss limit nor restriction on the number of trading days, allows traders to qualify for funding quickly.

Transparency over pricing is another major plus to MFFU, fostering a strong sense of trust in the firm among its trading community. A highly supportive customer service team ensure that any queries traders have are swiftly and professionally answered. The firm’s robust risk management principles encourage a sense of security, as do its emphasis on safe handling of data.

While the lack of educational materials may deter some traders, this seems to be only a minor concern when looking at everything MyFundedFutures has to offer. Traders have access to a good range of trading platforms, and the opportunity to trade with capital of up to $600,000, making it suitable for those seeking strong buying power to advance their careers as well as beginners looking for a reputable firm with reasonable pricing. MyFundedFutures stands out as a professional prop trading firm with attractive features.

We highly recommend considering them for your funded trading journey. Nonetheless, we recommend gauging all advantages and disadvantages of MFFU and compare them to its main competitors. MyFundedFutures faces stiff competition from established industry leaders like Topstep and Apex Trader Funding. These prop firms cater to undercapitalized traders by offering a range of account sizes, giving them a chance to trade futures contracts. Similar to MyFundedFutures, these firms empower you to trade with advanced platforms and a wide range of futures contracts, all while benefiting from their competitive payout structures.

To learn more, get all the information you need in our comprehensive Prop Firm Plus Reviews:

• Apex Trader Review 2024

• Topstep Review 2024