If you want to be a funded trader with a substantial six-figure prop firm trading account, the My Forex Funds 300k account may be worth a look. This is the latest evaluation from the Canadian prop firm.
My Forex Funds 300k Challenge
This is a pretty cool development because My Forex Funds’ initial offering of a 300k account was only for July, as a time-limited promotion. However, we were pleased to see that they extended the promotion through August as well.
And now that August is behind us, things got even better. The 300k account remains on the website, but this time, without an expiry date. Thus, we can only assume it’s here to stay, which is awesome.
We suspect that its initial appearance as a limited offer was simply to gauge market interest. However, in terms of MFF’s products, it definitely makes sense to keep it for good. That’s because the My Forex Funds maximum capital allocation to a single trader is $600,000, split across two accounts. So, in order to reach this figure, you would have to pass both the $100,000 and $200,000 evaluations twice, which is a bit of a grind. However, with the 300k account being a permanent fixture, you can reach maximum funding in just two evaluations.
This also makes a great deal of sense in terms of its competitors, with FTMO being the obvious example. FTMO’s maximum capital allocation is 400k, and the maximum challenge size is 200k. If you pass the 200k evaluation twice, you can apply to get both accounts merged into one single 400k account. However, this doesn’t achieve anything that can’t be done with a trade copier, and if you’re looking to get max funding in just two evaluations, the My Forex Funds 300k account might make a little more sense.
How much does it cost?
At the time of writing, the $300,000 account costs $1,389, which is the same as its introductory price.
There’s no mention of any discounted reset price in the rules if you fail the evaluation. However, there isn’t any mention of it being specifically excluded either, so it could be that MFF has simply forgotten to update the Rules list.
The MFF reset price after a failed evaluation is basically a 10% discount. If a discount reset is possible, it would be $1,250.10, which is a saving of $138.9.