MyForexFunds Review 2024 - Comprehensive Analysis for Kenyan Traders
Rapidly growing prop firm offering up to $300K funding with competitive conditions and instant funding options
MyForexFundsprop tradingfunded tradingKenyaforexevaluation
Quick Overview
Founded: 2020
Headquarters: St. Vincent and the Grenadines
Max Funding: $300,000
Success Rate: 20-25%
Kenya Friendly: Yes
Performance Ratings
overall
7.8
/10
trading Conditions
8.5
/10
payout Reliability
7.5
/10
customer Support
7
/10
platform Quality
8
/10
educational Value
7.5
/10
transparency
7.8
/10
Funding Programs
| Program | Account Size | Challenge Fee | Profit Target | Max Drawdown | Profit Split |
|---|---|---|---|---|---|
| Evaluation Program Standard two-phase evaluation with no time limits | $300,000 | $589 | 8% + 5% | 12% daily, 5% max | 75-85% |
| Rapid Program Single-phase evaluation for experienced traders | $300,000 | $589 | 10% | 12% daily, 5% max | 75-85% |
| Instant Funding Immediate funding without evaluation | $50,000 | $589 | None | 12% daily, 5% max | 50% |
Trading Conditions
Platforms & Instruments
Platforms:
MetaTrader 4MetaTrader 5
Instruments:
ForexIndicesCommoditiesCryptocurrencies
Max Leverage: 1:100
Min Trading Days: 5
Trading Rules
Weekend Holding: Yes
News Trading: Yes
EA Allowed: Yes
Hedging Allowed: Yes
Scalping Allowed: Yes
Pros & Cons
Pros
- No time limits on challenges
- Flexible trading rules
- Instant funding option available
- Competitive profit splits
- Free payout processing
- 24/7 customer support
- Active Discord community
- Multiple account sizes
Cons
- Relatively new firm (2020)
- Limited regulatory oversight
- Smaller maximum account size
- Less established track record
- Higher daily drawdown limit
- Limited educational resources
Kenya Accessibility
Trader Acceptance
Accepts Kenyan TradersTime Zone Compatibility
GoodLocal Support
LimitedLocal Payment Methods
SkrillPayPalWise
Costs & Fees
| Account Size | Challenge Fee | Refundable |
|---|---|---|
| $5K | $49 | Yes |
| $10K | $89 | Yes |
| $25K | $179 | Yes |
| $50K | $299 | Yes |
| $100K | $399 | Yes |
| $200K | $589 | Yes |
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