MyFundedFX vs The Funded Trader: Complete Comparison

Choosing the right prop firm can significantly impact your trading success. MyFundedFX and The Funded Trader are two popular options that offer competitive challenge programs. This comparison will help you decide which firm better suits your trading style and goals.

Challenge Structure Comparison

Both firms offer two-phase evaluation processes, but the specifics differ. MyFundedFX requires an 8% profit target in Phase 1 and 5% in Phase 2, while The Funded Trader asks for 10% and 5% respectively. The daily drawdown limits are 5% for both firms, with maximum drawdowns of 10% at MyFundedFX and 10% at The Funded Trader.

Time limits also vary between the firms. MyFundedFX offers unlimited time to complete both phases, which reduces pressure on traders. The Funded Trader has 35 days for Phase 1 and 60 days for Phase 2, though extensions are available for purchase.

Profit Splits and Scaling

The profit split is where things get interesting. MyFundedFX offers up to 80% profit split, while The Funded Trader starts at 80% and can increase to 90% with their scaling plan. Both firms have scaling programs that allow successful traders to manage larger accounts over time.

MyFundedFX's scaling program increases account size by 25% after four consecutive profitable months. The Funded Trader offers 25% scaling after three months of consistent profits. The actual value depends on your trading consistency and profit levels.

Trading Rules and Restrictions

Both firms allow trading of forex pairs, indices, commodities, and some cryptocurrencies. News trading is permitted by both, though some restrictions apply during high-impact releases. Neither firm allows copying trades from signal providers or using HFT strategies.

Weekend holding policies differ slightly. MyFundedFX allows positions to be held over weekends without restrictions, while The Funded Trader may require reduced position sizes for weekend holds on certain account types.

Pricing and Value

Challenge fees are competitive at both firms. For a $100,000 account, MyFundedFX charges approximately $500, while The Funded Trader is around $549. Both firms occasionally offer discounts that can reduce these costs significantly.

When factoring in the rules and profit splits, the overall value proposition depends on your trading style. More aggressive traders might prefer The Funded Trader's potential for higher profit splits, while conservative traders may appreciate MyFundedFX's unlimited time and straightforward rules.

Our Recommendation

For beginners and traders who prefer a less pressured environment, MyFundedFX's unlimited time evaluation is attractive. For experienced traders confident in reaching targets quickly, The Funded Trader's higher maximum profit split may be more appealing. Both are reputable firms with solid track records of paying out traders.