FTMO Vs My Forex Funds - Which is Better? Surprising Results...
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- Опубликовано: 19 авг 2021
- In this video I compare FTMO Vs My Forex Funds and the results are surprising in this prop firm comparison!
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TIMESTAMPS
0:01 Intro
1:13 Account sizes
1:59 Challenge costs
3:34 Challenge rules max drawdown
4:05 Max daily drawdown
4:18 Profit targets
5:01 Trading days
5:37 Leverage
5:54 Trading restrictions
6:25 Profit splits
7:16 Withdrawals
7:39 Refund policy
8:16 Challenge retakes
9:27 Failed challenges
9:54 Account scaling growth
10:39 Markets
11:13 Key points summary
As a beginner trader, I have been in the world of trading the stock market for only a few years and I love it. Previously a Warrior Trading student, I carried out the Pro class with Warrior Trading, and I focused on learning to day trade penny stocks, aka small caps stocks.
Since then, my trading journey has led me to trading Forex where I continue to learn and develop as a profitable Forex trader.
Recently I have been thinking of carrying out the trading account challenge with the prop firm FTMO. However after comparing FTMO Vs My Forex Funds, I am having a change of mind as to which prop firm provides the best product for account funding.
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You will like this video if you are interested in:
- ftmo vs my forex funds
- ftmo funded account rules
- ftmo challenge
- ftmo challenge explained
- ftmo vs funding talent
- my forex funds review
- my forex funds evaluation
- my forex funds prop firm
- best prop firm forex
- forex trading for beginners UK
- forex trader
- day trading for beginners UK
- day trader documentary
- warrior trading student
If you enjoyed this video, please LIKE and SUBSCRIBE for more videos! ✔️
Thanks!
Emily
- Mindfully Trading -
// DISCLAIMER
This video is for entertainment and educational purposes only. I am not a financial advisor and I am not telling you where or when to take a trade. I express my personal opinion only. Trading financial markets involves risk. I am not responsible for any losses incurred due to your trading. I do not recommend any specific trade or action, and any trades you decide to take are your own
#ftmo #myforexfundschallenge #propfirm #forextrading
👉 My Forex Funds FUNDING - Use 'mindfullytrading' for a 5% DISCOUNT- mindfullytrading.com/myforexfunds
Hello madam, is the discount still ongoing?
This was literally what I was about to research and boom saw your post. Great timing. All the best with your pregnancy as well. Thank you
Thank you so much, glad you enjoyed the vid 👍😄
Same lol was just about to search when this was this first recommended in my feed.. and this was uploaded 2 months ago!
Gotta love the algorithm
Excellent video...thank you very much...I was just about to sign up for the 5ers Bootcamp challenges but I'm going to do more research now. Have you looked at the bootcamp?
Thank you so much . this is excactly what i needed to make a decision on which prop firm to join!
MFF is the real deal
thanks for sharing comparison also share your trading history one of them
They have updated and you can trade crypto. Should compare spreads and commissions
The advantage with FTMO is that we are allowed to use Ctrader.
Great video !! However just wanted to add that MFF now allows trading on crypto on all its models.
Flawless presentation… thank you for the research
Glad you enjoyed it! 👍😄
👆👆I'll recommend you to expert Mrs Jessica of finance education, tell her jack referred you,she's the key to crypto.
Great video on the comparison! Very concise..thank you! ..and..LOVE your Magic Keys!!!
Thank you, so glad it was helpful!
I created a separate video on magic keys, here is a link if you're interested; 😉
ruclips.net/video/ExdrUuggE_k/видео.html
MFF is extremely reasonable, im doing the evaluation and i managed to get two extensions and a retry, im yet to pass but so far, as long as you keep the rules and are consistent in your trading method, they really are lenient.
hi Fred, is the maximum day is 30 days for phase 1? thanks
@@vietdungcao8779 Yes. 30 days. The timer starts as soon as you place your first trade.
That's great, best of luck! 😄
@Fred Kimani may I know what is the Spread of Gold XAU/USD please?
@@Temur1919 right now it’s 15
i would like to know the withdrawal speed process for these 2 firms, and which one is the oldest
Ok guys, here's my take after trying to pass MFF damn near 6 times...MFF is great for many, many things, but not great for the most important thing needed to pass.....DAILY LOSS LIMIT. As you gain on MFF, you only gain about 5% for every dollar you gain. This means, for every $100 you make, you gain extra daily loss limit of just $5.00. For every $1000 you make, just $50 added to your daily loss limit. Unlike FTMO, what you make on the account is ALL included in your daily loss limit. MFF is trying to pull everyone away from FTMO with the old slight of hand magic trick...While we are looking at the left hand, the right hand is pulling tricks that you don't see. What you need most is ALL of the equity you build to count towards your daily loss limit and overall account limit, not small percentages. FTMO IS BETTER THAN MFF, trust me...The day that MFF decides to give me my entire $1000 that I made to go towards my daily loss limit and overall account limit, not just $50.00 is the day that MFF becomes better than FTMO.
IMAGINE
hey JFX, can u pls explain this by an example of 100k account???
Thanks so much, I will be signing up I like all the benefits that it has. I wish I had some live webinars like the other firms but i can't be picky. lol
Glad it helped 👍
👆👆I'll recommend you to expert Mrs Jessica of finance education, tell her jack referred you,she's the key to crypto.
Thanks for the video..
Must check FAQs of both parties, in order to make sure it suits your trading strategies. there can be some restrictions.
MFF has zero restrictions
What about the comparison of the spread and the commission?
All this is great info but without knowing the spreads on the mandatory exchanges you use it's hard to compare. Thabk you for the info though. I'll dig a little deeper.
Same question.
MFF Dont have demo accounts to check spreads and swaps.
.
FANTASTIC VIDEO! well explained and straight to the point , no personal or biased opinions , just a pure raw explanation , thank you for the great detailed video .
Glad you enjoyed 😀
Congrats! This was a wonderful video presentation with much value. I am with a Trading group that has introduced FTMO; it is wonderful to see the variety in Prop Trading companies as I did ponder what will become of me if I were to slip up. The comparisons were quite enlightening and because of it, I have subscribed to this informative channel and posted that like as you've recommended. Now, I have to gladly absorb the previous contents you have made; I am sure it will make me a much better trader. Thanking you for all that you do. Cheers!
I appreciate that, thank you 🙏😊
Thanks for this. Once I am consistent (if I get there) then I shall look into Prop funds!
Here is something to look at. Say you go for the 100k account. You cannot lose more than 10k per month. Not even 10.1k per month. This really mean your actual account is 10k. They want a 10k return on the account. That is actually a 100% return per month. This is ridiculous.If you don't get the math then you are exactly who they are looking for. 😁😁😁
@@forex1015 then why are u watching this video....LOL
Thank you so much! I needed this video
Glad it was helpful! 👍
Hi, great video many thanks !!! Question: What about spreads ? are MFF competitive as well. Txs.
Thanks glad you enjoyed it!
MFF seem to offer fair spreads depending on the pair you trade. On their FAQ page, if you filter on evaluation and scroll through, there is a useful screenshot of their spreads for each pair. Here is a link- bit.ly/3z2W9ro 👍
Excellent comparison, thank you.
Pleasure
Not sure about MFF but with FTMO they also provide good analytics as well as a trading journal you can attach snapshots of your trade into, which as any profitable trader will tell you....is paramount to long term success.
MFF also have this feature in their trading dashboard
On indicies what’s the difference about there contracts and why
Iv been trying to trade but never had enough capital to trade forex. Love the video
Yeah that's the trick for a lot of us, I think that's where prop firms can help. Thank you 👍
Your video so simple and upfront. these other guys make things complex and thats when they loose me
Thank you, I'm glad you're enjoying them 👍
Very helpful vid and perfect timing for me! Thanks so much! You gained a new sub as well!
Awesome, thank you!👍
@Pînned_by Mindfully Trading nice try scammer! I know you are not mindfully trading! Get a life and get a job!
Thank you so much very clear explanation 👍
Glad it was helpful! 👍
In traders Prop Accounts is Hedging Allowed by which firms? Also For Hedged positions Is any margin required after hedging is completed? For open hedged positions carried overnight how is daily loss limit calculated next day of trading(and for total loss limit)?.Thank you.
Sir, Could you tell me how often S1 S2 & R1 R2 pivots get hit trding forex pairs.Is it better to trade higher volatility pairs.Do S1 R1 pivots get hit about 50% of days.I would think that Index cfds are more mean reverting compared to forex.Thank you.
Thanks!
I find it very informative.
Glad it was helpful! 😉
Thanks am def going for MFF
Sweet, good luck 👍
Since the airing of this video I checked and FTMO has changed their prices for the cost of the different accounts. They are a little cheaper than listed in this video but not as cheap as My Forex Funds. The profit split has changed as well. FTMO now has a profit split of 80:20 and after four months of trading and not breaking any rules and consistently being profitable you can request a 90:20 profit split. You now also have the option to request profit splits every 14 days instead of once a month.
Thanks for the comment
Nice video, simple and direct. I will the two prop firms. But will start with the MFF.
Good luck!
But the drawdown of MFF is on equity not on the capital, which is not good.
Very nicely explained! I enjoyed watching the video, your energy is great!
Thank you I really appreciate that 🙏😊
Have you or will you be doing any videos about VPSs suitable for Forex traders (particularly those who use expert advisors)? Thanks 👍
Hey I haven't as of yet, although I have recently been researching and dabbling with trade copiers so I may share more at a later date 👍
Wow this video was recommended and it was what I was looking for
Thank you, glad it helped! 👍
What about Surge Trader and Morris Capital ....!!!!!
I literally subscribed straight away. Thank you for not yelling at the camera and starting with: "WHAT'S GOING ON GUYS!"
Haha you're welcome, thanks for subscribing 😉
Me either
Do you have one on how the actual trading during the challenge goes?
Thanks for sharing this video. I didin't know about MFF and this helped me a lot. Cheers brom Brazil
Glad to hear that! 👍
Thank you so much for information and organized presentation! Liked and subscribed!
Awesome, thank you! I really appreciate it 😄🙏
There is quite a bit negative critique on the NET about MFF not refunding or various payout problems Anyone her have had similar issues with MFF? or could those negative complaints be guys being 'paid' to post false complaints?
Thanks for the comparison!
Glad you enjoyed it 👍
This channel is my favorite so far.... it has never failed with its analysis and strategy recommendations. Up till this day, even after 3 months,.... I still use the S&T vek analysis and it remains consistent and profitable.... I am just over the moon about it and it profit margin.....
I use S&T Vek strategy too
And it wiped out my account
Thanks for nothing
@@SupremeSkeptic xD hahahaa
This is super helpful but I wish I’d have watched this a couple of months ago as I’m now on my third FTMO attempt. All money down the drain at the moment. I got soooo close last time. Will definitely keep MFF in mind.
ahh no, well done for sticking with it though.
Wow! So sorry. They have a 14 day free trial and a free extension now.
ALL prop firms manipulate their numbers to make you think you are on a funded account but you'd be better of compounding your own account. See my video on that to know how they do that.
@@eissa_rsh stop spamming the comments man.
Thanks a lot for this, but I'd like to know if there's a profit target on the live account once you've passed the challenge.
Hey the profit target is for the challenge & evaluation only 👍
Thank you... Excellent
Glad you enjoyed it 👍
Great job introducing both prop firm. For FTMO news restriction, if i'm trading GOLD, what type of news should i beaware of? How do i know what news related to gold that i should'nt trade at that time? Appreciate your answer.
Thank you, glad you enjoyed the video! Personally I haven't traded a lot of Gold, but it is usually influenced by USD. The monthly NFP news can have a huge impact on Gold 👍
Imho mostly us fundamental news, sometimes aussy and china.
👆👆I'll recommend you to expert Mrs Jessica of finance education, tell her jack referred you,she's the key to crypto currencies
How about trading days?? What f i passed the phase 1 in 15 days for example? Do i need to wait or finish 30 days before i can proceed to phase 2? Likewise in phase?
Sir, Please recommend one best prop forex firm you would deal with now & WHY.
In traders Prop Accounts is Hedging Allowed(firm names)? Also For Hedged positions Is any margin required after hedging is completed? For open hedged positions carried overnight how is daily loss limit calculated next day of trading? Thank you.
Excellent comparison . What’s that gadget like a calculator colorful on your desk ? Is it a trade manager ?
Thank you, glad you enjoyed it. It is magic keys, a tool for trade & risk management. I share more in this video if you are interested; ruclips.net/video/ExdrUuggE_k/видео.html
Just passed my CTI evaluation challenge! thx for all the inspiration and tips and tricks
Amazing well done!
What is CTI ?
@@jacquelineallen2756 Some Propfirm
Thanks for the vid. (1) Can you use a Robot to trade on each?
You're welcome, you can use EA's but I am not sure about that, best check their site- I used their live chat, they were very helpful 👍
Clear explain ...Good job.
Thank you 🙂
Thanks Em - a beautifully clear explanation and summation.
Glad it was helpful!👍
Thank you!
One of the best explanations
I have heard thus far.
I was wondering if anyone knew if they will allow me to use a trade copier like social Trader.
I'm going to obviously trade my own account but would they allow me to use their account as a
secondary account or even tertiary account?
And what about expert advisors?
Thank you! 👍
Thanks, glad you enjoyed it. I asked them using live chat because that is also my plan and they advised that they allow trade copiers as long as you are only copying your own trades, not other traders. I also use Magic Keys and they seems pretty flexible on EA's 👍
@@MindfullyTrading who did you ask? Ftmo or mff?
Thank You for Explaining!
You're welcome! 👍
MFF using trailing daily drawdown (always 5% from the last balance), FTMO only 5% from the initial balance
are you sure ?
@@Mansa1 yes. I have tried MFF, daily drawdown is always 5% from the last balance even though I profit, so I can't increase my risk-reward
Now this is a very vital piece of information. This affects your emotions...I guess I will stick with ftmo...maybe try MFF later
So according to you which one is better between FTMO & MFF?
Fantastic video. Thank you.
Glad you enjoyed it!
I'm presently demo trading using the MT4 platform but don't know how to monitor the daily DD of 5% that's required.
Does someone know how I can do this on the MT4.
Also is the DD calculated only with closed trades showing loss or does it also include running trades in loss?
Would appreciate it if someone can assist with this, especially with how to monitor the daily DD.
thanks for the informative vid..
I allways trade with a risk of 1%. It works as if it hit my stop loss then i have lost exactly 1%. This way i know, that i can have 4 trades running and if they all get stopped out, then i have lost 4% - never 5%. I also make a TP of 1%. Then my win rate decides if i earn money. I do have a high win rate though. I believe i will set up the TP to 1.5 %.
@@renejrgensen9865 thank you for your response, appreciate it.
I trade features on a better exchange with lesser fees, I am glad to say I was able to do that with the help of Mrs Anna Lawerence . She is so kind
You can reach her on tele gram with her user name
Thanks for a very well explained video. I am a scalper. Trades are between 1 and 5 minutes. Do any of these funding companies allow scalping?
You're welcome- Yeah they both do, I think that FTMO have tighter spreads for scalping but MFF also have good spreads, between 1-2 pips 👍
@@MindfullyTrading Thanks for the response. I'm glad to hear that scalping is allowed
I have a question? Phase 2 before you get a live account you need to trade 60 Trading day's ? What if I reach the target before 60 day's ,Must I wait for 60 day's still?
@@juniormj7816 no you'll get after the 2 or 3 days of verification of your I'd and residual address
Thank you for this channel 👍👍👍.
Which broker do you use to trade with small account?
Another question: what is cfd's? I didn't understand this term?
🙏🙏🙏🙏🙏🙏🙏
Contract For Differences
You're welcome 😄 I started with Oanda because they have a free demo account which is great for beginners to practice with fake money, as well as other benefits such as no commission fees. Since then I have been trading a small account with them whilst practicing ready for a prop firm. 👍
@@MindfullyTrading how are you doing on your funded account. Is it hard or easy. How long before you became profitable
Great video.... Detailed and articulate. I'll always recommend MFF. Those guys changed my trading career
Thanks for the comment 👍
@Brown Money, I'd like to ask how do you deal with the 5% equity drawdown rule. I'm thinking that if I set my trades and forget for the day and I'm up 10%, if it turns back 5% I lose the challenge.
How do you combat that, by using trail stops perhaps?🤔
4:05 their is a slight difference in daily drawdown, MFF has an equity drawdown, so even if your in massive profits and lose 5%- you will be terminated
Wait but if i lose 5% but its still more than the initial balance its still considered a violation ? Does ftmo do this too?
@@luthmikail2670 I'm taking FTMO challenge right now and yes all of the calculation is based on initial balance. 10K drawdown will always be 500 even if your account is up 8%.
@@hariusthamrin7357 Yes but not on open positions. If you are 10% up and on the next day the same position is now only 4% up you lose your account!
@@malterieckmann6357 you are actually right. If you are up 5% on floating profit (equity) and set your SL to break even then the market turn around and stop you out at break even then it is all over. Very tricky, I wish they only use 5% DD on closed profit which is balance and not equity
and this is A HUGE difference. I got tagged out of a challenge on MFF because of this.
Excellent presentation!
Thanks for the comment 👍
Thank you 🙏🏿
You are great .. you present a great content 👋
Thank you very much, so glad you're enjoying the videos 😄🙏
if you have a trading adviser and he/she has not mention investing through forex funds please let go of service,my shout out to Mrs PRISCA ELVIS and her trading company for their skill,professionalism and good timing in the trading world at large and also for making my passive income a reality limelight!
investing in Forex funds have been more than a reality passive income to me after some humiliating lost to my previous gambling life,an introduction to Mrs PRISCA Elvis trading company and investing guards made me a complete passive income beneficial,she's a life saver to my investing impact.
Seems like yesterday when i thought of investing and my distance cousin sent me a link to better trading was adamant after 3 days was on you tube and saw same link and some person's commenting about MISS P ELVIS it was like a dream opener and i grabbed the linked and after my 7 days trading on her companies platform i got my first ROI (return of investment) ever since then my trading wallet have been cheers all the way.
Wow..amazing to see others who trade with Mrs prisca elvis,am currently on my 5th trade with her
and my portfolio has grown tremendously
I have traded with alot of individuals but i have never come across anyone as good as Mrs prisca elvis,just by applying her strategies, i now trade independently.she is the best i do advice any novice in investing to trade with her.
This is not the first time am hearing of Mrs prisca elvis on her exploits in the trading world but no idea how to reach her
Small correction if you fail on stage 1 at MFF: if you choose to extend your period on stage 1 you CANNOT have a free retake. You need to choose between one or another: retake or extension
@SpookyActionAtADistance It sounds like your already trading with them.Id like to know about their customer service and payouts from your perspective and how it's like working with them.Please if you don't mind.I wanna try them out am just skeptical.
@SpookyActionAtADistance I've just purchased the 100K challenge last week. It says on the website and on the recommendation rules on the email after you purchase it: you need to choose between one or another. Maybe it was changed from the time you took your retake
@SpookyActionAtADistance Thnx alot.
I think FTMO has not a max. Draw Down they use an account equity stop of 10%. Meaning on a 100K account the stop Loss is 90K.
I think if you up on 105K you have now 15K instead of a 10% DD. Which is pretty good.. If i understand this rules correctly
well.....you look very nice...enjoy your informative videos and you documenting your trading journey.
thank you, glad you enjoyed the video 👍
Great work in explaining all the differences, thanks a lot for this. Saved everyone a lot of research time!
You're very welcome!
Good day,thanks alot for your teachings.i have a question.If i have a 10,000 dollar account with MFF and i made 1500 dollars on the first trading day,my account will be 11500 dollars and the second trading day i lost 700 dollars.Will my account be closed because i violated 5 % on that day? And what will happen of the remaining profits on my accounts ? Will i lost everything ? I will be very happy if you can clarify me on this.
Hi. Thank you for the video. I know it's not related but how are you finding the value of the storyofprice? Is it worth it in your opinion?
You're welcome- I have had to take a break from the Story of Price for the past 2 months with moving house and the pregnancy. But I intend to get back into the mentorship as I felt it did help. It was a rolling monthly mentorship, you could always try it for a month and see if it's right for you. 👍
@@MindfullyTrading thank you for taking the time to reply. Wish you all the best with the pregnancy.
Thank you
Very well said!
Thank you 👍
Awesome video, thank you!
Glad you liked it!
Thanks
Thank you, However, you missed out on something. DAILY DRAWDOWN and MAX DRAWDOWN. If you have made 1000 profits that day, it doesn't count as a direct buffer, but it's added to your balance and that's where they calculate the daily drawdown. That's the only difference why I prefer FTMO, your profits act as a buffer both on the daily and max drawdown before the initial deposit.
What do you mean? U refer to to floating margin?
@@ente_kadang2_ya158 For ftmo if your 5% drawdown on a 100k acc is 5000, and you have made a profit of 8000 that day and later that day you made a loss of 6000, then you have not violated the DD, but with MFF you would have because the DD is fixed to the 5% of your starting Balance
@@nicholaskimutai1497 that's wicked, so it's based on initial balance or deposit? Not accumulation?
Exactly!
In MFF - If you profit 10k and have a balance of 110,000. My Forex Funds will start your daily drawdown from 110,000. So, if you lose more than 5 percent of that, your account if lost!
FTMO allows you to use the 10 as a buffer meaning, you can’t lose more than 15,000 for a daily drawdown if your balance is at 110,000 for that day.
@@renebleu8711 This information is inacurate. FTMO will reset its daily drawdown each day to 5% of the starting balance. Regardless of how much profit you make.
Hi, thanks for the detailed info. I have a question though. What about the commissions and spread of MFF? Because if they are too high, there it may lie the difference.... Do you know anything about it? Thanks a lot. Best.
@Yayu Yo Thanks. That´s more or less expected.
@@olivermaitland3592 OK, thanks for the info
3 usd per lot
@@aldolima1886 Thanks for the info
MFF don't have demo
Very interesting comparison analysis👍
Thank you, Glad you liked it!
So with MFF when you passed phase 1 can you withdraw?
I hope there are no withdrawal issues with them, please can anybody tell me if they will fraud during profit split?
Very Thanks for your clear explanation
You are welcome
This is the best comparison
Thank you 👍
perfectly explained thank you
You're welcome!
👆👆I'll recommend you to expert Mrs Jessica of finance education, tell her jack referred you,she's the key to crypto.
Great breakdown very informative, great video
Thank you 👍
Hello,
Question, MFF only uses metatrader or is ctrader enabled?
Only mt4 at the moment 👍
Hello !!! I love your channel :) I have a question. How many of these Funding companies can you blow out? What I mean is... if you blow out a challenge - are you able to do another challenge with the same company? If so, how many? Also, can you more challenges with other companies or is there away for they knowing you did not pass other company challenges?
As long as you pay for the retakes there is no limit. Unless you have free retakes with the specific company.
how do you get the us500 ticker on myforexfunds trading platform?
MFF
Daily drawdown is 5% of the starting equity or balance of the day (whichever is higher) every 5:00pm EST. For example: If your starting equity is $103,000 but your starting balance is $100,000 then the daily drawdown will be based on your starting equity because it is higher. 5% x $103,000 = $5,150. Your account balance/equity cannot go below $103,000 - $5,150 = $97,850 for the day. If your starting equity is $95,000 but your starting balance is $97,000 then the daily drawdown will be based on your starting balance because it is higher. 5% x $97,000 = $4,850. Your account balance/equity cannot go below $97,000 - $4,850 = $92,150 for the day.
Thanks for sharing 👍
@@MindfullyTrading tnks dear
I share here coz most of trader don’t know the drwdwn rule of MFF
So ftmo is calculating drowdown from starting ballance - with 100k accout my max daily drowdown is 5% - 5k ? When i made 10k profit in a day and my ballance is now 110k i still can loose those 10k and 5k as my max daily drowdown. How it looks in MFF? If i made 10k profit in a day i still can make lose of 10k (profit) and 5% as daily drowdown?
@@krauze55 in MFF u cant add ur profit to daily drwdown
Its only 5%
Whether u make 10k or 20k a day it doesn't matter
Thanks for sharing this. Hence it means FTMO is still better as it allows you to create buffer to increase your risk per position right?
what about spreads?
Great help LOVE IT ❤️
Thank you, so glad it helped! 😄
You avoided talking about spreads or how MFF doesn't allow investor accounts to actually look at their live spreads.
Please tell me about your argument.I would like to try it but am skeptical.
is it in the live account that we got after completing the evaluation stage 1 and stage 2 the rules are still like that???
Best to check with the company themselves.
Thanks for sharing valuable information
You're welcome, glad it helped 👍
Great video, have you tried MFF as yet and how has it been going ?
Thank you, I am currently trying them out, I will keep you posted as the account develops 👍
@@MindfullyTrading thank you !