Overview of My Trading Firm Forex Prop Firm
TheTrustedProp
Date: April 30, 2024
In the ever-evolving world of trading, finding the right platform to kickstart your trading journey is crucial. My Trading Firm, despite its mysterious CEO and undisclosed legal name, has been making waves since its inception in January 2023. Registered in India, this trading firm offers a unique challenge program that sets it apart from the competition. In this article, we will delve into the details of My Trading Firm, its challenge program, and why it might be the ideal choice for aspiring traders.
Company Details
Name: My Trading Firm
Legal Name: Unknown
CEO: Undisclosed
Started in: January 2023
Registered in: India
Challenge Details
My Trading Firm offers a one-of-a-kind challenge program that simplifies the path to becoming a successful trader. Here are the program details:
- Overall Drawdown: 10%
- Profit Target: 10%
- No Time Limit
- Static Based Drawdown
- EA’s & Copy Trading Allowed
- Weekend Holding
- Customizable Accounts
- No Trading Restrictions
Account Sizes
Aspiring traders can choose from various account sizes to match their trading goals:
- $25,000
- $50,000
- $100,000
- $200,000
- $300,000
- $400,000
- $500,000
- $1,000,000
Empowering Traders, Fueling Growth
My Trading Firm prides itself on empowering traders and fueling their growth in the dynamic world of trading. Here's why you should consider this firm for your trading journey:
Clear Trading Rules
At My Trading Firm, simplicity is key. The firm aims to identify successful traders without burdening them with complex rules that often lead to failure.
No Daily Drawdown Limits
Unlike many trading platforms, My Trading Firm imposes no constraints on daily drawdown limits. This freedom allows traders to operate without fear of excessive losses.
Rapid Scaling Plan
One of the most exciting aspects of My Trading Firm is its rapid scaling plan. Every time a trader hits their profit target, the funding amount increases. With dedication and skill, traders can scale up to an impressive $4,000,000 with My Trading Firm.
No Minimum or Maximum Trading Days
Traders at My Trading Firm enjoy the flexibility of trading without the pressure of time limits. Whether you trade every day or intermittently, you can scale up your activities as soon as you reach your profit target.
Refundable Sign-up Fee
Another unique feature is the refundable sign-up fee. On your fourth payout from any of the evaluation programs, you'll get your sign-up fee refunded. This demonstrates the firm's commitment to rewarding successful traders.
Effortless Payouts
My Trading Firm values your time and financial gains. The firm offers streamlined payout methods, ensuring that you can quickly and easily withdraw your earnings bi-weekly.
Trade on MetaTrader 4 or 5
Traders at My Trading Firm have the privilege of trading on the award-winning MetaTrader 4 or 5 platforms. The firm partners with BlueberryMarkets for evaluation phases and funded accounts. This means you'll have access to a top-notch trading environment.
Leveraging Expertise
My Trading Firm's commitment to traders goes beyond just providing a platform. Their experienced team is dedicated to helping you succeed. They understand that trading can be a complex endeavor, especially for newcomers. That's why they offer valuable insights, guidance, and support to traders throughout their journey.
Continuous Growth
One of the most enticing aspects of My Trading Firm is the potential for exponential growth. As you hit your profit targets, your trading account expands. This means you can take on more significant trades and potentially earn more substantial profits. Few trading platforms offer such a direct path to scaling up your trading activities.
Transparency
Transparency is key in the trading world, and My Trading Firm understands this. While the CEO's identity remains undisclosed, the firm is upfront about its terms, conditions, and the evaluation process. This transparency builds trust and ensures that traders have a clear understanding of what they are getting into.
A Global Community
My Trading Firm boasts a diverse community of traders from around the world. This international network can be invaluable, as it exposes traders to different trading styles, strategies, and market insights. It's an opportunity to learn from peers and collaborate on trading approaches.
Conclusion
In conclusion, My Trading Firm presents a unique and appealing option for those seeking success in the world of trading. With a clear and straightforward approach, a rapid scaling plan, transparent terms, and a supportive community, it offers a holistic trading experience. Whether you're a seasoned trader or just starting, My Trading Firm's flexible programs and extensive support can help you achieve your financial goals.
FAQs
Are there any countries we cannot trade from?
No, My Trading Firm accepts traders from around the world. There are no geographical restrictions.
Do you have a scaling plan?
Yes, there is a scaling plan in place. Traders can grow their account to a maximum balance of $4,000,000 by achieving a 10% profit on their funded account. This allows for a scale of 50% of the initial balance.
Can I trade during major news?
Absolutely! My Trading Firm permits trading during major news events. However, traders must be mindful of factors like roll over, swap, slippage, and volatility during such events.
Can I hold overnight & trade over weekends?
Yes, My Trading Firm imposes no restrictions on holding trades overnight or over the weekend. Weekend crypto trading, however, is not allowed.
Is scalping allowed?
My Trading Firm accommodates all trading styles, including scalping. However, it's essential to note that a trade must remain open for a minimum of 30 seconds. Intentional closure within 30 seconds as part of a trading strategy may lead to account termination.
Is it possible to use an Expert Advisor (EA) or robot for trading?
Yes, My Trading Firm allows the use of risk management EAs and trading bots, except for those used in prohibited manners like Martingale, Tick scalping, Reverse arbitrage trading, Latency arbitrage trading, and Hedge arbitrage trading or HFT. HFT is permitted with an Add-on purchase.
Can I use a trade copier?
While replicating trades from a non-MyTradingFirm account to a MyTradingFirm account is allowed, copying trades to multiple MyTradingFirm accounts or reverse copying is not permitted.
Does MyTradingFirm check EA's?
My Trading Firm retains the right to examine EAs, their source code, and strategies at any time. The use of prohibited EAs may result in account termination.
What are your Spreads & Commissions?
All accounts at My Trading Firm offer ECN spreads starting as low as 0.1 pips. Additionally, there is a commission charge of $5 per lot for all assets except Crypto & Indices.
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