What Is MyFundedFutures?
MyFundedFutures (MFFU) is a cutting-edge proprietary trading firm that opens the door for traders to dive into the futures market using simulated funds. This innovative platform allows traders to get hands-on experience without putting their own capital on the line, as they trade with the firm’s allocated simulated funds. It’s a game-changer for those who want to test their trading skills without the financial risk.
As a sibling entity to MyFundedFX, MyFundedFutures mirrors its counterpart in both business model and operational structure. Boasting a rich heritage of fostering trader success within the forex realm, MyFundedFutures seamlessly extends this legacy to empower futures traders. Their dedication to excellence and achievement in trading remains unwavering, marking them as a formidable force in the trading sphere.
Why You Should Choose MyFundedFutures
Evaluations And Pricing
MyFundedFutures presents three distinct account tiers, each offering both a Starter and Expert variant, delineated below. It’s crucial to meticulously consider which option aligns best with your objectives. Generally, Expert accounts necessitate a higher profit threshold but forego scaling, enabling traders to engage with the full spectrum of contracts from day one. Conversely, Starter plans boast lower profit benchmarks while implementing a scaling protocol.
Notably, Starter accounts entail a more economical initial investment but entail an activation fee absent in Expert accounts. For comprehensive insights into MyFundedFutures’ offerings, explore their plans to discern the most suitable fit.
Additionally, it’s pertinent to note that initial withdrawals on Starter accounts are subject to a cap for the first two months, whereas Expert accounts impose no such limit. Further elucidation on this topic can be found on the MFFU FAQ page.
Starter Plans
A one-time activation fee of $149 is required to access the funding on the Starter Plan. This fee must be settled prior to obtaining the funded account. Note that the Expert Plans do not incur this activation charge.
If you need to reset your Starter Plan account due to a rule breach during the evaluation, you can do so for $100, which is more cost-effective than cancelling and reapplying. This reset option is distinct from monthly account resets that come with your subscription, providing flexibility for traders who don’t want to wait for the end of their billing cycle. The reset policy also applies to Expert Plans, with reset fees varying from $165 to $375 depending on the account size.
Expert Plans
Getting Funded With MyFundedFutures
Once you’ve successfully completed MyFundedFutures 1-step evaluation, you will be eligible for funding and able to trade with real money. You can withdraw the first $10,000 of your profits, and after this benefit from a 90% profit share.
When trading with real funds and executing orders on the exchange, traders are required to cover the expenses associated with the real-time data feed, meaning that funded traders are responsible for the data fees charged by the following exchanges:
- CME
- CBOT
- NYMEX
- COMEX
The charges for each exchange typically vary between $116 and $132. Consequently, the more exchanges you access, the steeper the overall cost becomes. This can lead to considerable expenses since prop account traders are deemed professionals, which entails a contractual relationship with the exchange. As a result, traders are obliged to settle these fees from their own accounts.
Trading Platforms Available
Like many prop trading firms, this one offer traders a choice between two main platforms: Rithmic and CQG (Tradovate). Each has distinct advantages and drawbacks. Since Tradovate’s acquisition by NinjaTrader, there’s been considerable overlap in their functionalities. Some traders enjoy the user-friendly design of Tradovate, while others favor the robust features of NinjaTrader with a Rithmic connection. If you’re unsure which platform would work best for you, the firm generally recommends starting with the CQG/Tradovate option.
MFFU Prop Firm also allows you to use third party software, such as Jigsaw DayTradr or Bookmap, which can be connected both to NinjaTrader/Rithmic and Tradovate/CQG.
Tradeable Assets
MyFundedFutures provides traders with funded accounts designed for futures trading, granting access to a diverse array of futures contracts, including:
- CME Exchange (ES, NQ, RTY, MES, MNQ, M2K, NKD, 6A, 6B, 6C, 6E, E7, 6J, 6S, GE, HE, LE, MBT, MET, M6E, M6A, 6M, 6N)
- NYMEX Exchange (CL, QM, MCL, HO, NG, QG, RB, PL)
- COMEX Exchange (GC, HG, SIL, SI, MGC)
- CBOT Exchange (YM, MYM, ZN, ZW, ZL, UB, ZT, ZB, ZS, TN, ZF, ZC, ZM)
Evaluation Rules
We provide a summary of the key guidelines below, but for detailed information, be sure to visit MFFU’s website for their complete set of regulations.
- No consistency rule – you can pass in just one trading day
- Don’t breach the End of Day drawdown amount
- For Starter accounts, follow the scaling plan as below
For inexperienced traders, navigating through these regulations might initially appear daunting. It is strongly recommended that you carefully explore MFFU’s FAQ section to ensure a comprehensive understanding before proceeding further.
Scaling plan for Starter accounts (Expert accounts don’t have a scaling plan):
Funded Account Rules
The core guidelines for funded trading accounts are outlined in this review, with additional details on withdrawal procedures provided in the Withdrawal section. In brief, Starter accounts are designed with a scaling plan, whereas Expert accounts operate without one. Despite these differences, both account types share a common restriction: the End of Day drawdown must not exceed the initial balance by more than $100. This means that for a $50,000 account, regardless of any profits earned, the End of Day drawdown limit is set at $50,100.
Starter Accounts:
- End of Day drawdown is limited to your initial balance plus $100
- Scaling rules apply to funded accounts as well. Take a look at the Evaluation rules for the scaling plan
- No more than 40% of your profits can come from one trading day
Expert Accounts:
- End of Day drawdown is limited to your initial balance plus $100
- No scaling rules
- No consistency rules
- Funded account fees are charged
Starter accounts require a $149 activation fee per account, irrespective of the evaluation size, while the Expert accounts are exempt from this charge. This is an important factor to consider when selecting your account type. Although Starter accounts have a lower initial sign-up fee, you will need to pay the activation fee if you pass the evaluation. This additional cost could make the Expert accounts a more economical option in the long run, depending on your goals and budget.
50k Account
100k Account
150k Account
Different Rules
This review aims to outline the fundamental guidelines. However, newer traders might find some aspects a bit perplexing. For a clearer understanding, we suggest visiting MFFU’s FAQ page, which provides detailed explanations that can help demystify the process and improve your odds of success.
Consistency Rule
In the initial challenge phase, there isn’t a specific rule concerning consistency. However, once you progress to the simulated funded stage, a strict 40% consistency rule is enforced. This rule stipulates that no single day’s trading gains should exceed 40% of your total profits. It’s important to highlight that Expert-level accounts are exempt from this consistency requirement.
Violating this rule means you can’t withdraw any of your profits. While your account’s security won’t be compromised, you will be required to keep trading and earning returns until each trading day accounts for less than 40% of your total profits.
Maximum Drawdown
MyFundedFutures stands out by eliminating daily drawdown limits, providing traders with a greater sense of stability and reducing the stress that can accompany day-to-day trading fluctuations. Rather than focusing on daily performance, MFFU emphasises a maximum End of Day (EOD) drawdown, which allows for more flexibility. This EOD drawdown is capped at 3%, offering a clear boundary for managing risk. It’s worth noting, however, that the EOD limit cannot exceed $100 plus the initial starting balance.
For example,
- For a $50,000 account, the max EOD drawdown is $51,600
- For a $100,000 account, the max EOD drawdown is $103,100
- For a $150,000 account, the max EOD drawdown is $154,600
Contract Sizing
There are a limited number of contracts you can buy or sell at a given time for each account size, as follows:
- $50,000 account – 5 contracts
- $100,000 account – 10 contracts
- $150,000 account – 15 contracts
The limits set for contract types apply consistently to both micros and minis, ensuring uniformity in restrictions. However, it’s crucial to recognize that these limitations do not encompass scaling considerations. The Starter plan notably offers a 1:10 scaling option specifically for micros, which provides flexibility within that context.
Multiple Accounts
MyFundedFutures offers flexibility with the option to hold up to ten accounts simultaneously. A failed evaluation for any given account doesn’t count toward this limit, granting leeway to try again. For example, if a user has ten accounts but fails one evaluation, they are permitted to open another account without exceeding the maximum.
The platform does impose a limit of three active simulated funded accounts and one live funded account concurrently. If a user completes another evaluation while already at this limit, the system won’t create the additional account until one of the existing simulated funded accounts either transitions to live status or fails. This policy ensures that users maintain a manageable number of accounts at any given time but may require them to plan their evaluations carefully.
Withdrawals
During the first 45 days of Starter funded programs, withdrawals are subject to a maximum limit based on your starting balance and the max drawdown percentage. For example, with a $50,000 account and a 4% max drawdown, the most you can withdraw is $2,000 every two weeks. After 60 days, these restrictions vanish, allowing unlimited withdrawals. This flexibility sets the program apart, as many other proprietary trading firms maintain drawdown-based withdrawal caps for a full 90 days.
In contrast, the Expert plans don’t impose any withdrawal limits, giving traders the freedom to manage their earnings with only a bi-weekly withdrawal schedule to adhere to. This approach offers a level of flexibility that is rare in the industry, providing traders with more control over their funds.
In Summary:
Payout Amount:
The trader retains 100% of their first $10,000 in profits, while any earnings beyond that point are split, with the trader receiving 90% of the share.
Starter Accounts:
During the initial 60-day period, the maximum amount you can withdraw is restricted to your account’s maximum drawdown limit. To illustrate, if you have a $50,000 account with a $2,000 drawdown limit, then any withdrawal during the first 60 days can’t exceed $2,000. After this initial period, however, there is no cap on withdrawal requests, allowing you to request payouts without limitation.
Expert Accounts:
There are no limits on withdrawal amounts, and no additional conditions to meet. Funded traders can initiate withdrawals from day one, providing immediate access to earned profits.
Both Starter and Expert Accounts:
Withdrawals can be requested every 14 calendar days
- Pass the evaluation in just one day
- The first $10,000 of profit is kept entirely by the trader
- 90% profit share thereafter
- Use up to ten funded accounts simultaneously
- The company has extensive experience in the funding sector, with its sister company MyFundedFX being a prominent forex prop firm
- Expert accounts offer traders a high degree of flexibility, with no scaling or consistency rules meaning limitless opportunities to scale.
- Only futures trading offered
- Funded traders are classified as professionals, meaning higher monthly fixed costs for exchange data feeds
Conclusion
MyFundedFutures stands out as a prominent player in the prop trading sector, holding its own against industry leaders. This firm caters to experienced traders looking to boost their trading power, while also appealing to newcomers in the futures market with its competitive pricing and reputable standing. With MyFundedFutures, traders can tap into a diverse selection of trading platforms and have the opportunity to manage up to $600,000 in capital. This makes it an attractive option for those aiming to advance their trading careers with a trusted partner.
MyFundedFutures has established a premier futures prop trading firm that delivers top-notch trading conditions within a finely tuned environment. Traders who join their ranks will benefit from a robust platform and a well-structured approach to trading futures.
For additional insights into other leading futures prop firms, please visit our website’s TradeDay Review section, where you’ll find comprehensive information on industry trends and key players.
