My Forex Funds Review (myforexfunds.com) FRAUD!

MyForexFunds.com is a dubious prop trading firm based in Toronto, Canada.

The company registered its domain for My Forex Funds in July 2020 but claims that 4000+ traders from 80+ countries are currently using their services.

This gives the impression that the company is honest and wants to help undercapitalized traders succeed.

Their main point of differentiation is that they fund professional talent and charge no monthly fees.

They inform traders that their prop trading firm has a low entry barrier for traders seeking funding.

Furthermore, My Forex Funds is said to provide trading education on topics such as support and resistance, risk management, and many others.

My Forex Funds, on the other hand, has a bad reputation for scamming traders rather than helping them.

Rather than frustrating yourself by signing up and paying them money to “access funding,” it is preferable to invest in these highly dependable trading and investing services.

This company, like every other ostensibly honest proprietary trading firm, offers three types of funded accounts to desperate traders.

Before proceeding to the next stage of the trading combination, traders must first use a trading simulator (demo).

The three programs they use to attract traders are as follows:

• Rapid

• Evaluation

• Accelerated

Students who sign up must pay an upfront fee to access any of these trading programs with the promise of “free money.”

This fantasy will cost between $84 and $100 to join.

Once students pay the sign-up fee, the company claims that no recurring fees will be charged.

This is the same tactic used by scammers who operate ostensibly legitimate prop trading firms such as Try2bfunded and ForexTradersUK.

These types of engagements are aimed at desperate and naive traders who believe they can succeed if they only trade a large account.

But the question is, if you can't make money with a small account, why do you think you'll be able to make money with a large account？

It's a pipe dream that victims chase after, only to lose money to scammers who prey on their ignorance.

In the case of MyForexFunds, students are instructed to pay money upfront to trade on a demo account.

The goal of trading on a demo account is to hone your skills for free.

However, Forex scammers want you to pay to trade on a simulator.

Aside from that, the phony prop trading firms have their own set of rules.

These aren't just rules; they're rules that can't be followed.

For example, in their Rapid program, participants must execute at least three trades per week.

Any professional trader will tell you that it is not uncommon for a week or two to pass without any meaningful trade setups developing in the market.

By requiring victims to open three trades per week, MyForexFunds is essentially forcing these traders to make the worst trading mistake of all: trading even when there is nothing to trade.

Following that is a drawdown, which results in the account being suspended with no recourse or refund.

Where will this trading take place？

Traders Global Group is the name of the broker.

This is an unregulated company that provides the MT4 server on which students will trade.

My Forex Funds, on the other hand, claims that Traders Global Group is not a broker and thus does not require a license.

The truth is that anyone providing a financial service in the form of a trading server is acting as a broker, and thus the issuance of a license must be a valid argument.

MyForexFunds has received negative feedback.

TrustPilot, a phony reputation management company, is being used by the company.

Trustpilot is a haven for phony reviews from businesses that want to do business with phony reviews.

Trustpilot is only happy if the dubious companies pay their monthly subscription in advance.

Aside from that, My Forex Funds has a long and sad history of accepting money from students and failing to open their trading accounts.

They have a long and sad history of duping people who believe they will be given free money in exchange for trading.

The Last Word

It is never as it appears.

There is no such thing as a legitimate prop trading firm.

If you want to fund me, ask for my trading profile, and if it meets your standards, let me trade a million-dollar account for free.

Scammers, on the other hand, do the exact opposite.

They charge you a fee upfront, then intentionally fail you and close your account.

You suffer a financial loss.