Mena Funding
Details About Mena Funding
Legal Name: Mena Funding Limited
Company Number: 3243388
Country of Registeration: SG
CEO: Zayn
Support Mail: [email protected]
Phone: Not available
Payment Modes: Wire transfer/ Bank Transfer, Crypto
Withdrawal Methods: Crypto, Rise
Website: https://menafunding.com
Banned Countries:
Challenge Details at Mena Funding
Types of Challenges: Two Phase Challenge, One Phase Challenge
Trading Platforms: 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
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.
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.