Since its inception in September 2023, My Funded Futures has made a significant mark in the trading industry. Initially established as a Forex trading firm, the company has skillfully expanded its expertise into futures trading, leveraging its profound understanding of market dynamics.
While My Funded Futures is not known for frequent promotions, they do offer them occasionally. For those interested in staying updated with their latest deals and sales, I maintain a regularly updated list on discount code Page. This is the go-to resource for finding any current My Funded Futures promo code, ensuring you never miss out on their special offers.
| Incorporation Date | September 2023 |
| CEO | Matthew Leech |
| Office Location | United States |
| Maximum Allocation Capital | $600.000 |
| Broker | RTrader Pro, Tradingview, Ninjatrader, Tradovate |
Table of Contents
- Discovering My Funded Futures: A Pioneering Path in Trading
- Navigating the One-Step Challenge at MyFundedFutures
- Understanding Evaluations and Pricing at MyFundedFutures
- Choose Your Path: Starter or Expert
- Your Route to Funding with MyFundedFutures
- Exploring Trading Platforms at MyFundedFutures
- Diverse Tradeable Assets with My Funded Futures
- Navigating MyFundedFutures: Evaluation and Funded Account Rules
- Funded Account Framework
- Key Rules at MyFundedFutures: A Closer Look
- Managing Multiple Accounts with MyFundedFutures
- Understanding Withdrawals
- Payout Structure at MyFundedFutures
- Conclusion:
Discovering My Funded Futures: A Pioneering Path in Trading
MyFundedFutures (MFFU) distinguishes itself as a proprietary trading firm, uniquely offering traders the opportunity to delve into the futures market using simulated funds. This innovative approach allows traders to engage in futures trading without the risk associated with personal capital investment, as the firm provides simulated funds for trading activities.
Aligned with MyFundedFX, its sister company, both entities share a synergistic business model and operational framework. My Funded Futures has carved a niche in the trading world, known for its longstanding commitment to nurturing traders in the forex market while maintaining a legacy of excellence and achievement. This firm represents a strategic and thoughtful expansion into futures trading, dedicated to equipping traders for success in this dynamic field.
Navigating the One-Step Challenge at MyFundedFutures
My Funded Futures has uniquely crafted its evaluation process into a streamlined one-step challenge. This distinctive approach swiftly propels traders towards qualification for funding, distinguishing the firm in a field where two-step evaluations are the norm.
The challenge is designed to assess a trader’s proficiency in generating profits and managing risks within a minimum timeframe of one day. Successful completion of this challenge grants traders access to funding, enabling them to trade with real capital and withdraw earnings bi weekly.
To triumph in this evaluation, traders must fulfill three key criteria:
- Profit Target: This is scaled to the account size. For instance, the profit goal for a $50K account is set at $3,000. It’s important to note that individual trades contributing over 40% towards this target are excluded from the calculation.
- Consistency Target: The evaluation phase does not enforce a consistency rule, and neither do the Expert plans. However, in the simulated funds stage, the consistency requirement stands at 40%.
- Daily Loss Limit: MyFundedFutures diverges from other proprietary trading firms by not imposing daily drawdown limits. Instead, it implements a maximum End of Day (EOD) drawdown of 3%. For example, a $50K account should not exceed an EOD drawdown of $51,600.
Understanding Evaluations and Pricing at MyFundedFutures
At MyFundedFutures, traders can choose from three distinct account sizes, each available in either Starter or Expert versions to best suit individual trading styles. Starter plans, geared towards beginners, feature more accessible profit targets and beneficial scaling rules. Expert accounts, on the other hand, aim for higher profit benchmarks right from the start, allowing full contract trading without scaling.
Pricing strategies differ between these plans. Starter accounts are more budget-friendly initially but include an activation fee, a feature absent in Expert accounts. To determine which plan aligns with your trading objectives, further details are available on their website.
It’s important to note the withdrawal limitations on Starter accounts in the initial two months, a restriction not applicable to Expert accounts. For a comprehensive understanding, the MFFU FAQ page offers detailed insights.
Choose Your Path: Starter or Expert
- Expert: Advance your trading career with a 5% saving on any account size. [Start Here]
Upon qualifying for funding, a one-time activation fee of $149 is required to access your funded account. (only for starter)
If a rule breach occurs during evaluation, resetting your account doesn’t require cancellation. Instead, a $100 reset fee allows for immediate account reinstatement. This is separate from the monthly subscription resets, offering traders an option not to wait until the end of the billing period.
Your Route to Funding with MyFundedFutures
Clearing the one-step evaluation at MyFundedFutures opens the door to trading with actual capital. The first $10.000 in profits is entirely yours, with an impressive 90% profit share thereafter.
Exploring Trading Platforms at MyFundedFutures
MyFundedFutures aligns with current industry standards by offering traders a choice between two robust platforms: Rithmic and CQG (Tradovate). Each platform comes with its unique set of benefits and limitations. Since NinjaTrader’s acquisition of Tradovate, the disparity between the two platforms has narrowed considerably. A popular choice among some traders is to use NinjaTrader in conjunction with a Rithmic connection. However, for those uncertain about which platform to opt for, most prop trading firms lean towards recommending the CQG/Tradovate platform.
In addition to these primary platforms, MyFundedFutures traders have the flexibility to integrate third-party software like Jigsaw DayTradr or Bookmap. These tools are compatible with both NinjaTrader/Rithmic and Tradovate/CQG setups, providing traders with a diverse array of tools to tailor their trading experience.
Diverse Tradeable Assets with My Funded Futures
MFFU stands out in the world of futures trading by offering funded accounts that open doors to an extensive array of futures contracts. Traders have the liberty to explore and engage in markets across several prestigious exchanges:
- CME Exchange Options: Dive into a variety of contracts including ES, NQ, RTY, MES, MNQ, M2K, NKD, and an array of currency futures like 6A, 6B, 6C, 6E, E7, 6J, 6S. Also available are GE, HE, LE, MBT, MET, M6E, M6A, 6M, 6N for a more diversified portfolio.
- NYMEX Exchange Selections: Tap into energy and metal markets with contracts like CL, QM, MCL, HO, NG, QG, RB, PL, offering a rich blend of trading opportunities.
- COMEX Exchange Offerings: Engage with precious metals and other commodities through contracts such as GC, HG, SIL, SI, MGC, allowing traders to diversify into different asset classes.
- CBOT Exchange Range: Explore a variety of contracts including YM, MYM, ZN, ZW, ZL, UB, ZT, ZB, ZS, TN, ZF, ZC, ZM, catering to a broad spectrum of trading interests and strategies.
This extensive range ensures that traders partnering with MFFU have access to a vast and varied trading playground, suitable for a wide range of trading styles and preferences.
Navigating MyFundedFutures: Evaluation and Funded Account Rules
MyFundedFutures simplifies the path to trading success with straightforward rules, detailed on their website. Here’s a snapshot:
- No Consistency Rule: Qualification is possible after just one trading day.
- End of Day Drawdown: Keep an eye on this crucial limit.
- Starter Account Scaling Plan: Follow this to stay on track.
For those new to trading, these rules might seem overwhelming. A thorough read of the MFFU FAQ page is recommended to grasp the details fully.
Starter Account Scaling Plan (Not Applicable to Expert Accounts):
Funded Account Framework
The general rules for funded accounts are as follows, with more details in the Withdrawal section of this review:
- Starter Accounts: Be mindful of your initial balance plus $100 for the End of Day drawdown. Scaling rules apply. Daily profits should stay below 40% of total profits.
- Expert Accounts: Similar drawdown rule, no scaling or consistency rules, and remember, funded account fees are in play.
Activation fees of $149 apply to Starter accounts, regardless of size. Weigh the smaller sign-up fee against the activation fee when making your choice.
Key Rules at MyFundedFutures: A Closer Look
Delving into MyFundedFutures‘ critical rules, it’s essential for newer traders to spend some time understanding these guidelines. A thorough read of their FAQ page is highly recommended to maximize your chances of success.
Consistency Rule
Once you embark on the simulated funded phase, a 40% consistency rule comes into play (this rule is absent in the challenge phase). This means the profits from any single trading day should not surpass 40% of your total profits. It’s important to note that this rule does not apply to Expert accounts.
If you exceed this limit, withdrawals are off the table. You’re not at risk of account termination, but you’ll need to continue trading and accruing profits until your daily gains fall below 40% of your total.
Maximum Drawdown
Unlike other prop trading firms that impose daily drawdowns, MyFundedFutures opts for a more trader-friendly approach with a maximum EOD drawdown. This is set at 3% above your initial balance plus $100.
For example:
- A $50K account has a max EOD drawdown of $51,600.
- A $100K account’s limit is $103,100.
- For a $150K account, it’s $154,600.
Contract Sizing
Each account size comes with specific contract limits for both buying and selling:
- $50,000 account: Up to 5 contracts.
- $100,000 account: A maximum of 10 contracts.
- $150,000 account: Limit of 15 contracts.
These limits apply to both micro and mini contracts. Note, this sizing does not factor in scaling, and the Starter plan includes a unique 1:10 scaling for Micros.
Minimum Trading Days
MFFU’s minimum trading day requirement is set at one day for all account types, ensuring traders are genuinely engaged in the market.
- Account Types: MFFU offers diverse account sizes, each with its own trading day minimum.
- Program Phases: Comprising evaluation, trial, and funded stages, these phases are designed to assess your trading growth. The one-day minimum applies throughout.
- Minimum Days: This requirement is key to maintaining active market involvement.
While the bare minimum is one day, MFFU advises trading more extensively to refine skills and strategies, boosting your likelihood of meeting performance goals.
Managing Multiple Accounts with MyFundedFutures
At MyFundedFutures, traders have the flexibility to manage up to ten accounts at the same time. It’s worth noting that this count excludes any accounts that don’t pass evaluations. For example, if you’re juggling ten accounts and one doesn’t make the cut, you’re free to initiate a new one.
However, there’s a cap on the types of accounts you can hold: a maximum of three simulated funded accounts and one live funded account at any given time. If you ace another evaluation while already at the cap for simulated accounts, your new account will be activated only when one of your existing accounts either progresses to live status or is unsuccessful.
Understanding Withdrawals
In the Starter funded programs, the first 60 days come with specific withdrawal limitations. These are based on your starting balance and the maximum drawdown percentage. For instance, with a $50K account that has a 4% max drawdown, you’re able to request withdrawals up to $2,000 biweekly. After these initial 60 days, the sky’s the limit — you can request unlimited withdrawals. This is a more trader-friendly approach compared to other firms, which often impose withdrawal restrictions based on drawdown for 90 days. MyFundedFutures eases this restriction after just 60 days.
For those on Expert plans, there are essentially no withdrawal limits, with the exception that requests can be made every two weeks.
Payout Structure at MyFundedFutures
Initial Profits: Traders enjoy 100% ownership of the first $10,000 they earn. Following this, a favorable 90/10 profit share kicks in.
Starter Accounts: In the first 60 days, withdrawal limits for Starter accounts align with the account’s maximum drawdown. For example, with a $50K account having a $2,000 max drawdown, that’s your cap on withdrawals for the initial period. After this, there’s no ceiling on payout requests.
Expert Accounts: For those holding Expert accounts, the sky’s the limit when it comes to withdrawal amounts. From day one as a funded trader, there are no constraints on how much you can withdraw.
Withdrawal Frequency for All Accounts: Regardless of the account type, you can initiate withdrawals biweekly.
Conclusion:
Weighing up against its peers in the prop trading arena, MyFundedFutures emerges as a compelling option. It’s particularly suited for skilled traders seeking significant capital to propel their careers forward, as well as novices aspiring to join a respected firm with fair pricing. Offering a variety of trading platforms and the opportunity to manage substantial capital up to $600,000, MyFundedFutures has carved a niche as a professional and accommodating futures prop trading firm.
