Mena Funding

Details About Mena Funding

Legal Name: Mena Funding Limited
Company Number: 3243388
Country of Registeration: SGSG
CEO: Zayn
Support Mail: [email protected]
Phone: Not available
Payment Modes: Wire transfer/ Bank Transfer, Crypto
Withdrawal Methods: Crypto, Rise

Challenge Details at Mena Funding

Types of Challenges: Two Phase Challenge, One Phase Challenge
Trading Platforms: Metatrader, DXTrade
Trading Instruments: Forex, Crypto, Indices, Commodities, Metals
Broker: Eightcap
Max Allocation: $200,000
Scaling: $1,500,000
Trading Competitions: Does not organize Trading Competitions
Free Trials: Does not offer free Trials
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About Mena Funding

Here's a breakdown of the key points from the provided information:

1.  Prop Firm Name:  Mena Funding
2.  Legal Name:  Mena Funding LLC
3.  Registration Number:  3243388
4.  Country of Registration:  UAE and HONG KONG
5.  Getting Started:  Register on the website, choose the account type, and receive credentials immediately. Funded Accounts require KYC/AML screening, so provide valid photo ID and proof of address within the last 60 days.
6.  What is Mena Funding?:  An online demo trading evaluation firm allowing traders to prove their skills with no risk. After passing, eligible traders receive a profit split on Funded Account profits.
7.  License to Trade for Mena?:  No, Mena handles regulations. Successfully completing evaluations leads to funding. Traders are responsible for their taxes.
8.  Restriction Countries:  Afghanistan, Albania, American Samoa, Bahamas, Belarus, Burundi, Central African Republic, Congo (Democratic Republic), Cuba, Cyprus, Eritrea, Guam, Guinea-Bissau, Haiti, Iran, Iraq, Japan, Korea North, Kosovo, Lebanon, Libya, Mali, Myanmar, and more.
9.  MT5 Availability:  Currently not available, but the team is working on releasing it soon.
10.  Tax on Trade Earnings:  Traders classified as independent contractors; responsible for reporting earnings to relevant tax authorities.
11.  Trading Platforms:  MT4 platform provided by ASIC-regulated broker EightCap.
12.  Trading Platform Download:  From the website home page, trader dashboard download center, or using the provided link.
13.  Account Sharing:  Only the account owner can trade. Sharing login information is prohibited. Accessing via VPN or VPS is discouraged.
14.  Withdrawal of Evaluation Profits:  Not allowed during the evaluation phase; the purpose is to test trading without risking capital.
15.  Use of VPN:  Discouraged; traders must be the sole users of their accounts.
16.  Documents Needed for Trading:  Valid photo ID, proof of address (within the last 60 days), and a selfie for KYC verification.
17.  Mena Challenge Start Period:  Evaluation starts with the first trade placed.
18.  After Passing Mena Challenge:  Verify identity, sign agreement, and upon submission, the team reviews and creates the funded account.
19.  Allowed Instruments for Trading:  Forex, commodities, indices, and crypto.
20.  Use of Expert Advisors (EAs):  Allowed, but must comply with Terms of Service. Prohibited strategies may result in account breach.
21.  Holding Trades Overnight/Weekend:  Allowed for specific challenge accounts.
22.  Copy Trading:  Not allowed; Mena seeks individual trading talent.
23.  News Trading:  Allowed for specific challenge accounts; defined as trading around major high-impact news events.
24.  Restrictions on News Trading:  Specific guidelines for not executing new trades or closing existing trades during red folder macroeconomic events.
25.  Violation Consequences:  Breach of account, profit deduction, and ban for trading in sanctioned countries or rule violations.
26.  Daily Drawdown and Max Drawdown Rules:  Defined for each challenge account; breach results in account status change to “Failed.”
27.  Leverage and Lot Size Calculation:  Leverage varies by account; lot size limitations based on leverage and account equity. Formula provided for max lots calculation.
28.  Account Scaling Plan:  Review every 3 months; eligible for a 25% increase based on consistent performance. Daily and max drawdowns scale accordingly.
29.  Payout and Withdrawal Options:  Cryptocurrency (BTC, LTC, ETH, USDC) or Deel for various withdrawal methods (Wise, Paypal, Bank transfer, etc.).
30.  Profit Split:  80% profit split on funded accounts, potentially up to 90% with special promotional codes.
31.  Maximum Number of Accounts:  Up to three challenges simultaneously, totaling a maximum of USD 600k in funding.
32.  Mena Emperor Challenge:  Two-stage evaluation with specific objectives; rewards include 1:100 leverage and up to 90% profit sharing.
33.  Mena Rook Challenge:  Structured evaluation with Regular and Swing accounts; profit targets, drawdown limits, and profit share details specified.
34.  Mena Horseman Challenge:  Evaluation with Regular and Consistency accounts; allows Expert Advisors, offers a reset discount, and up to 92% profit share.

These points summarize the key aspects of Mena Funding's trading evaluation program.