Features of Funded Prop Firm
- Instruments: Equity Futures, Foreign Exchange Futures, Agricultural Futures, Energy, Interest Rates Futures, Metals Futures.
- Max balance: $150,000
- Profit split: 90%
- Cost: from $80/month
- Platforms: Ninjatrader, Tradovate, TradingView, Quantower, Sierra Chart, ATAS
Pros My Funded Futures Prop Firm
Initial profits up to US$10,000 beyond the buffer zone are entirely yours, followed by an extremely generous 90% profit split. A structure allowing traders to enjoy high earnings by sharing in the success of the firm.
Flexible Account Sizes and Funding Options
Choose between account sizes and funding options, from as low as up to $150,000 to trade futures. This flexibility will suit different trading styles and strategies, ranging from low-capital traders up to high-capital traders.
Simple and Single-Phase Evaluations
Its assessment process is rather straightforward, with lax rules: no minimum or maximum trading days and no daily loss limit. This simplicity in the assessment phase reduces some of the pressure and intricacy involved in being in the evaluation phase.
Transparent Pricing
My Funded Futures has no hidden fees from activation to reset ones. Unlike some prop firm out there, it ensures that no secret fees apply, but rather clear, cutthroat costs.
Flexible Evaluation Timeframe
There is no deadline for the evaluation phase, so traders can take their time to work at their comfortable pace without the pressure of a running clock. This allows for a much more relaxed and thorough assessment period.
Round-the-Clock and Efficient Customer Support
Get complete multi-channel customer support available 24/7. This means that help is always around the corner if and when you need it.
Variety of Advanced Trading Platforms and Account Types
At your fingertips, be sure to have a number of advanced trading platforms such as Tradovate, TradingView, and NinjaTrader, supplemented with the inclusion of account types like Expert and Starter accounts. The variety of tools caters to a wide range of needs and preferences when it comes to trading.
Supports Several Futures Trading Instruments
Trade all types of futures assets on the major exchanges: CME, CBOT, COMEX, NYMEX. Wide support further extends your options to trade a wide range of assets.
Lower All-in Costs for Traders
My Funded Futures offers lower overall costs to the trader, being very cost-effective. This competitive pricing setup will go a long way in helping you maximize your potential profits.
Cons My Funded Futures Prop Firm
No Platform Trial Exists
One of the notable drawbacks of My Funded Futures is the absence of a trial period for their trading platform. This means potential traders cannot test the platform’s features and usability before committing, which can be a significant disadvantage for those who prefer to evaluate a system firsthand before making a financial commitment.
A New Company with Doubtful Longevity
My Funded Futures is relatively new in the prop trading industry, raising concerns about its long-term stability and reliability. As a newcomer, it may not have the track record or established reputation that some traders seek in a firm, which could impact its perceived trustworthiness and future viability.
While the firm offers high-profit shares, this could potentially work against traders. Higher profit splits might come with stringent performance expectations and pressure, which could adversely affect trading decisions and overall performance, especially for those not accustomed to such high-stakes environments.
Limited Trading Methods May Not Work for All Sorts
My Funded Futures restricts the trading methods available to its traders, which might not suit every trading style or strategy. This limitation can be a drawback for traders who rely on diverse or unconventional approaches to achieve their trading goals.
Un-transparent Performance and Profit Allocation
A lack of transparency in performance metrics and profit allocation can be a significant issue. Traders may find it challenging to gauge their performance and understand how profits are distributed, which can lead to confusion and mistrust in the firm’s operations and fairness.
Lack of Trader Education
Another concern is the firm’s inadequate provision of trader education. Without adequate resources or support for skill development, traders may struggle to improve their strategies and adapt to market changes, limiting their success and growth.
My Funded Futures Rules
Trading Rules
My Funded Futures has a well-articulated set of trading rules that outline the call for discipline and performance consistency, effective and outstanding among traders. Among the basic rules is that there is no limit to the maximum or minimum days required to trade, meaning traders can easily trade at their own comfort. All this flexibility is elementary to traders who may require different time allocations to realize their goals or those who would not feel stringent time bindings.
The Consistency Rule
Again, one of the keen things at My Funded Futures has to be the consistency rule of 40% in the funded stage. This sets forth that no single day’s profit shall be equal or exceed 40% of the running profits. If, on any one day, the trader realizes profits in excess of this figure, he should continue to trade in order to even out the profit realization over other trading days. The idea is to keep traders from adopting a balanced view on risk and based on accidental stray high-profit days to achieve their targets.
Profit Targets
The profit targets are predefined in My Funded Futures, which vary with different assessment processes that a trader may be undergoing. These targets are critical success determinants of any trader and form part of the evaluation criteria on the site. Traders are hence always tempted to strategize their trade with these targets in mind, hence giving them the goal-oriented approach. This helps in keeping traders focused so that their trading activities result in an explicit and realistic aim.
Frequently Asked Questions (FAQs)
What Trading Platforms Are Available?
The vast majority of the most popular futures trading platforms are supported by futures prop firms.
Here are some of the trading platforms: Ninjatrader, Rithmic, Bookmap, Agena Trader, MotiveWave, Photon, Collective2, InsideEdge Trader, Optimus Flow, ScalpTool, Medved Trader, Quantower, Trade Navigator, Overcharts, Sierra Chart, Volfix, TigerTrade, MultiCharts, QScalp, QST, TSLAB, and more.
What is a Funded Futures Account?
A Funded Futures account is an account your prop trading firm gives you once you are done with your evaluation process. Through the funded account, you have the ability to trade futures contracts smoothly and be entitled to a profit split.
What is the Best Funded Trader Program?
There are several great prop trading firms in the space, including MyFundedFutures, Topstep and FundedNext. The best-funded trader program is typically going to be a matter of your preference, goals and trading styles.
How much do funded traders make?
Therefore, it is very difficult to estimate the earnings of prop traders because of large variations due to differing trading strategies, risk management methods, and market conditions. A successful trader in a funded program could potentially earn anywhere from a few thousand to tens of thousands of dollars, though this can vary.
