MyForexFunds was founded in 2020 by Murtuza Kazmi and quickly became one of the fastest-growing prop firms in the industry. Based in Toronto, Canada, MFF distinguished itself by offering some of the lowest evaluation fees in the market combined with multiple funding paths. The firm processed significant payout volumes during its peak growth period and attracted a massive community of retail traders.
MFF offers three distinct programs: the Evaluation program (two-phase, similar to FTMO), the Rapid program (instant live funding with lower profit splits), and the Accelerated program (one-step evaluation with faster access to funded status). This flexibility is a major selling point, as traders can choose a path that matches their risk tolerance and experience level.
Evaluation Program (Two-Phase): Phase 1 requires an 8% profit target within 30 calendar days. Phase 2 requires a 5% profit target within 60 days. Maximum daily loss is 5% and maximum overall loss is 12%. Minimum of 5 trading days per phase.
Rapid Program: This is an instant funding option with no evaluation required. You receive a live funded account immediately, but the profit split starts lower (50%) and increases over time as you demonstrate consistency. Daily loss limit is 5% and maximum drawdown is 5% (trailing).
Accelerated Program: A single-phase evaluation with a 10% profit target. Once passed, you receive funded status. The maximum loss limit is 10% (trailing) with no daily limit. This program appeals to aggressive traders who want to skip the two-phase process.
MyForexFunds is known for aggressive pricing. Evaluation fees are refundable upon your first profit split. Approximate prices:
- $5,000 Evaluation — ~$49
- $10,000 Evaluation — ~$84
- $25,000 Evaluation — ~$149
- $50,000 Evaluation — ~$249
- $100,000 Evaluation — ~$499
- $200,000 Evaluation — ~$999
- $300,000 Evaluation — ~$1,499
Rapid accounts are cheaper but start with a 50% profit split. Accelerated accounts are priced between Evaluation and Rapid tiers.
- Daily loss limit: 5% on Evaluation and Rapid programs. Not applicable on Accelerated.
- Maximum drawdown: 12% on Evaluation (static). 5% on Rapid (trailing). 10% on Accelerated (trailing).
- Minimum trading days: 5 days per phase (Evaluation). No minimum on Rapid or Accelerated.
- News trading: Allowed on all programs, but trades opened within 2 minutes of high-impact news may be flagged on the Evaluation program.
- Weekend holding: Permitted on all programs.
- EAs and bots: Allowed, but trade copiers from signal services are restricted on Evaluation accounts.
- Lot sizes: Vary by account size. $100K Evaluation allows up to 30 standard lots.
- Consistency rule: No strict consistency rule on Evaluation. Rapid accounts require consistent trading patterns to increase profit splits.
MFF supports MetaTrader 4 and MetaTrader 5, available on desktop, web, and mobile. The instrument range includes forex pairs (30+ pairs including exotics), indices (US30, NAS100, SPX500, DAX40), commodities (gold, silver, crude oil), and cryptocurrency CFDs (BTC, ETH). Individual stock CFDs are not available.
Evaluation accounts start at 75% profit split, increasing to 85% through the scaling plan. Rapid accounts start at 50% and can increase to 75% over time. Payouts are available bi-weekly after the initial 30-day trading period. Payout methods include bank transfer, cryptocurrency, and Deel (global payout platform). No minimum withdrawal threshold applies.
MFF offers scaling on the Evaluation program. After maintaining consistent profitability over a 3-month period and achieving at least a 10% return, your account balance is increased by 25%. Simultaneously, your profit split increases from 75% to 80%, and eventually to 85%. The Rapid program has a built-in progression system where your profit split increases as you hit milestones.
Pros:
- Extremely affordable evaluation fees — some of the lowest in the industry
- Multiple program paths (Evaluation, Rapid, Accelerated) to suit different trader profiles
- Instant funding available through the Rapid program — no evaluation needed
- Weekend holding and news trading generally permitted
- High Trustpilot rating (4.8/5) with a large review base
- Generous 12% maximum drawdown on Evaluation (more forgiving than many competitors)
Cons:
- The firm faced regulatory scrutiny from the CFTC in 2023, which caused significant concern in the trading community
- Rapid program starts with only a 50% profit split, which is low compared to alternatives
- No cTrader support — limited to MetaTrader platforms only
- Trailing drawdown on Rapid and Accelerated accounts can be punishing during volatile periods
- Customer support response times can be slow during high-demand periods
- Limited instrument selection compared to firms like FTMO (no individual stocks)
MyForexFunds is ideal for budget-conscious traders who want to try funded trading without significant upfront investment. The Rapid program is especially appealing for traders who dislike evaluations and want immediate live market access, even at a lower initial profit split. Swing traders benefit from the relaxed weekend and news trading rules.
Traders who prioritize the cheapest possible entry point and are comfortable with MetaTrader platforms will find MFF to be an excellent option. However, those seeking the most established and reputable firm may prefer alternatives with longer track records and no regulatory history.
★★★★★ 4.8 / 5 — based on 16,498 reviews on Trustpilot.
MyForexFunds maintains an excellent Trustpilot rating. Positive reviews frequently cite the low pricing, fast account setup, and multiple program options. Common complaints include occasional delays in payout processing during peak periods and confusion around the trailing drawdown mechanics on Rapid accounts. The firm's rating has remained strong despite regulatory concerns, suggesting continued satisfaction among active users.