MyFundedFutures is a new player in the prop game. They offer traders access to big capital and top notch resources for futures trading. With their one step challenge and fast payout system they address the problems of the past for traders.
MyFundedFutures is easy to use. They clearly care about trader success as shown by their high pass rates and streamlined process. As you look around at prop trading options you’ll see MyFundedFutures stands out for their simple platform and competitive edge in a crowded space.
Who is MyFundedFutures?
MyFundedFutures (MFFU) is a futures prop firm that lets you trade with fake capital. They have a one step evaluation process to get funded. You’ll need to meet certain criteria to show your trading skills and risk management. Once you pass you can start trading real money and withdraw profits every 2 weeks.
MFFU is related to MyFundedFX, their forex focused counterpart. As a futures trading firm MFFU wants to give traders like you the opportunity to show off your strategies and earn from your trading skills.
MyFundedFutures Challenge Rules
MyFundedFutures has a one step evaluation process to get you funded fast. The challenge is one step, unlike many others that have two step evaluations.
To pass the challenge you need to show profitability and risk management over at least one day. Here are the rules:
- Profit Target: This varies based on account size. For a $50,000 account you need to make $3,000. Note single trades over 40% of the target don’t count towards this goal.
- End of Day (EOD) Drawdown Limit: Unlike some firms there is no intraday drawdown limit. Instead you need to keep your EOD drawdown below 3%. For a $50,000 account this means you need to be above $48,500 at the end of each trading day.
- Consistency: There is no consistency rule during the challenge. However in the simulated funds stage you need to have 40% consistency.
Once you pass the challenge you can start trading with real money. Profits are available for withdrawal every 2 weeks. This simple process allows you to show off your skills and get funded faster than other prop trading firms.
Futures Funding Options Evaluation and Pricing
MyFundedFutures has multiple account sizes to fit different trader needs. You can choose between Starter and Expert accounts, each with their own features and requirements.
Starter accounts:
- Lower profit targets
- Scaling rules
- Lower initial cost
- Activation fee
- Capped withdrawals for the first 2 months
Expert accounts:
- Higher profit targets
- No scaling (full contract trading from start)
- No activation fee
- Uncapped withdrawals
Choose which one suits your trading style by reading the details of each plan.
Pricing:
- One time activation fee: $149 (Starter accounts only)
- Account reset fee: $100
The reset fee allows you to restart your challenge without creating a new account if you breach a rule. This is different from the monthly resets included in your subscription.
When comparing:
- Your trading experience
- Risk tolerance
- Capital available
- Long term goals
Remember cheaper initial cost may come with trade offs like withdrawal limits or scaling restrictions. Consider all aspects of the offerings before making a decision.
Before you commit, read the FAQ section on the MyFundedFutures website. This has all the information on withdrawal policies, account management and other important details that will affect your trading.
By evaluating the challenge and pricing against your personal trading goals you can choose the right funded futures account for you.
How to get funded with MyFundedFutures
MyFundedFutures has a simple way to get you trading with real money. By passing the one step challenge you can get funded. This simple process allows you to get trading fast and easy.
Once funded you will have a profit sharing structure. The first $100,000 in profits you make is all yours. After that you will get 90% of all profits.
Note that trading on exchanges with real money has costs. As a funded trader you will be responsible for real-time data feed costs. These costs vary by exchange.
The more exchanges you trade on the higher your total costs will be. These costs can add up fast as funded traders are considered professionals by the exchanges. You will need to pay these costs from your personal account as per the agreement with the exchanges.
To get the most out of your earnings consider focusing on a few exchanges to start with. This will help you manage your costs while you build your trading skills and capital. Once you are profitable you can add more exchanges if you want.
Don’t forget to include these data feed costs in your trading plan and profit calculations. By understanding and managing these costs you can get the most out of your funded trading with MyFundedFutures.
Trading Platform
MyFundedFutures gives you access to industry standard futures trading platforms. You can choose between Rithmic and CQG (Tradovate) platforms, both are reliable for traders. The difference between the platforms has become less since NinjaTrader acquired Tradovate.
If you are not sure which platform to choose CQG/Tradovate is recommended. If you prefer NinjaTrader with Rithmic connection is also available. Your trading experience can be enhanced with third party software compatibility. Tools like Jigsaw DayTradr and Bookmap can be connected to both NinjaTrader/Rithmic and Tradovate/CQG.
This gives you the flexibility to customise your trading environment to your preferences and strategies.
What can you trade on MyFundedFutures?
MyFundedFutures has a wide range of futures contracts to trade. You can trade major stock index futures like E-mini S&P 500 (ES) and E-mini Nasdaq-100 (NQ). Currency futures are available including Euro (6E) and British Pound (6B).
Energy traders can trade crude oil (CL) and natural gas (NG) futures. For precious metals gold (GC) and silver (SI) contracts are available. Agricultural commodities like corn (ZC) and soybeans (ZS) are also tradable.
The platform is for experienced traders and newbies who want to get into futures trading. You will find micro contracts for many popular products so you can trade with smaller position sizes and lower capital requirements.
What are the rules for MyFundedFutures evaluations?
MyFundedFutures has simple evaluation rules for traders. You only need to trade for one day to pass, no consistency required. The only rule is to not to breach the End of Day drawdown limit.
For Starter accounts there is a scaling plan. As you make profits you can trade more contracts.
Expert accounts don’t follow this scaling plan. If you are new to trading take time to get familiar with these rules. They are designed to promote disciplined trading habits and help you pass the evaluation.
What are the rules for funded trading accounts?
Funded trading accounts have specific rules to manage risk and responsible trading. For Starter accounts your End of Day (EOD) drawdown is capped at your initial balance + $100. So if you have a $50,000 account your maximum EOD drawdown will be $50,000 regardless of profits.
Starter accounts also have scaling rules. Your daily profits can’t exceed 40% of your total profits to maintain consistent performance.
Expert accounts have different rules:
- EOD drawdown limit: Initial balance + $100
- No scaling rules
- No consistency requirements
- Fees apply for funded accounts
Here’s a quick comparison:
Account Type EOD Drawdown Limit Scaling Rules Consistency Rules Activation Fee Starter Initial + $100 Yes Yes $149 Expert Initial + $100 No No None
When choosing your account type consider that Starter accounts have lower upfront cost but has an activation fee upon passing evaluation. Expert accounts skip this fee but has higher initial cost.
These rules are to protect you and the funding provider while you trade with significant capital. Always review the specific terms for your chosen account type before you start.
MyFundedFutures Rules and Limits
MyFundedFutures has set several rules and limits for traders to follow. You must understand these rules to succeed in the program.
Consistency Rule
Once you enter the funded phase, a 40% consistency rule applies. This means your daily profits cannot exceed 40% of your total profits. If you breach this rule you won’t be able to withdraw profits until your daily profits go below 40%. Expert accounts are exempt from this rule.
Maximum Drawdown
MyFundedFutures uses end of day (EOD) drawdown instead of daily drawdown. The maximum EOD drawdown is 3% above your initial balance + $100.
Contract Limits
There are limits on the number of contracts you can buy or sell at any given time:
- $50,000 account: 5 contracts
- $100,000 account: 10 contracts
- $150,000 account: 15 contracts
These limits apply to micro and mini contracts. Starter plan has 1:10 scaling for Micros.
Minimum Trading Days
MyFundedFutures requires you to trade at least one day across all account types and phases. While this is the minimum, it’s recommended to trade more to gain experience and improve your strategies.
Trading Phases
The program has three phases:
- Evaluation
- Trial
- Funded
Each phase will assess you as you progress. Minimum trading day requirement is the same across all phases.
Account Types
MyFundedFutures has different account sizes to suit your trading needs and goals. Regardless of the account type you choose, you must meet the minimum trading day requirement.
By following these rules and limits you can show your trading skills and increase your chances of success in the MyFundedFutures program. Review the FAQ page for more info on these rules and other important stuff.
Can I Have Multiple Accounts With MyFundedFutures?
MyFundedFutures allows you to manage up to 10 accounts at a time. This doesn’t include accounts that didn’t pass the evaluation stage. For example if you have 10 accounts and one fails you can open another.
There are caps on different account types:
- 3 simulated funded accounts
- 1 live funded account
When you reach the 3 simulated funded accounts limit, passing another evaluation won’t create a new account immediately. You’ll need to wait until one of your existing simulated accounts either:
- Goes live
- Fails to meet requirements
This way you can test different strategies while keeping a manageable number of active accounts.
Payouts?
MyFundedFutures has a flexible payout system that varies based on your account type. For Starter accounts, initial withdrawals are limited. For the first 60 days, your withdrawal amount is capped based on your account’s maximum drawdown. For example if you have a $50,000 account with $2,000 max drawdown you can withdraw up to $2,000 every 2 weeks.
After 60 days, Starter accounts can request unlimited withdrawals. Expert accounts can withdraw unlimited from day one with no caps on payout amounts.
Regardless of your account type you can request payouts every 14 days. This bi-weekly schedule gives you regular access to your profits.
The profit-sharing structure at MyFundedFutures is great:
- You keep 100% of your first $10,000 in profits
- After $10,000 the split is 90/10 (you get 90%)
This is very generous so you keep a big chunk of your trading profits.
To request a payout you’ll need to:
- Log in to your account
- Go to the withdrawal section
- Enter the amount
- Choose your payout method (e.g. bank transfer, credit card)
Remember, MyFundedFutures will process payouts as fast as possible but actual receipt of funds depends on your payout method and your bank’s policies.
MyFundedFutures: Pros and Cons
MyFundedFutures has some great features for traders. You can complete the evaluation in one day and get funded accounts fast. The profit-sharing is very generous, you keep the first $10,000 and 90% after that.
You can manage up to 10 funded accounts at a time. MyFundedFutures has expertise in prop trading through its sister company in forex.
Cons
MyFundedFutures only allows futures trading. As a funded trader you are considered a professional so you’ll pay higher monthly data feed costs. The educational resources and customer support is limited.
Expert accounts have total freedom, no scaling or consistency rules to restrict your trading.
Conclusion
MyFundedFutures is a good option for futures traders. They offer big capital access, up to $600,000 accounts. Good for experienced traders looking to scale up and newbies entering the field.
Pros:
- Multiple platforms
- Competitive pricing
- Professional environment
If you’re ready to get funded, MyFundedFutures is a good start. You can choose an account that suits your experience and trading goals. MyFundedFutures has a good reputation and trader support so worth considering when looking at prop trading options.
Remember to evaluate your own trading skills and risk tolerance before deciding if this is for you.