My Funded Futures Account Types and Differences

My Funded Futures account types and differences are tailored to suit different trading styles and ability levels. This cutting-edge prop firm offers traders a special route to funded trading accounts with adaptable assessment procedures. This article will examine my funded futures account types and differences.

Landscape of Account Types

There are four main account types available at My Funded Futures:

1. Static Milestone Accounts

• Account sizes for static milestone accounts are $25K, $50K, $100K, and $150K.

Characteristics:

• No daily cap on losses
• No minimum number of trading days
• Live account at phase 5 
• Daily profit cap of 20%
• Micro Scaling: 10 micros = 1 mini.
• No recurring fees
• Permits trading when significant economic news is released.

2. Starter Evaluation Account

• Account Sizes for Starter Evaluation: $50K, $150K, and $220K

Characteristics:

• End-of-day drawdown restrictions
• 40% consistency rule
• Options for weekly payouts 
• Micro Scaling: 10 micros = 1 mini
• Trading restrictions during significant economic news releases
• Restricted to a maximum of three accounts (funded or simfunded).

3. Starter Plus Account

• Starter Plus Account Amounts: $50,000, $100,000, and $150,000

Characteristics:

• A little more higher profit goals
• End-of-day drawdown restrictions
• No daily cap on losses
• Rapid weekly payouts
• In the challenge phase, there is no consistency rule.
• Micro Scaling: 10 micros = 1 mini.

4. Expert Evaluation Account

• Account Sizes for Expert Evaluation: $50,000, $100,000, and $150,000

Characteristics:

• Absence of a scaling rule
• There is no activation cost
• No daily cap on losses
• 14-day, biweekly payouts
• In the challenge or simfunded phases, there is no consistency rule.
• 1:1 microscaling

Financial Structure and Profit Sharing

Mechanism for Profit Splitting

• The trader receives 100% of the first $10,000 in winnings.
• 90/10 split for profits beyond $10,000
• 90% of future gains are given to traders.

Breakdown of the Evaluation Process

Funding Stages

1. Initial Evaluation

• Virtual account provided
• Profit target achievement
• No set number of trading days

2. Simulated Funded Stage

• Evidence of consistency
• Eligibility for payout
• Monitoring performance

3. Live Funded Account

• Trading with real money
• Continued compliance with the rules
• Maintenance of profitability

Benefits of Comparative Accounts

Advantagesof Static Milestones

• No ongoing charges
• Adaptable trading circumstances
• Various possibilities for account sizes
• Trading in economic news is allowed.

Benefits of a Starter Account

• Reduced barrier to entrance
• Potential weekly payout
• Flexibility in microscaling

Expert Account Highlight

• The most accommodating trading regulations
• No limitations on consistency
• Structure of biweekly payouts

Specifications for Technical Trading

Platform Capabilities

• Six options for trading platforms

Leverage options:

• Currency Pairs: Up to 1:100 
• Indices: Competitive leverage rates
• Copy trading is permitted for up to 10 accounts.

Features of Risk Management

Typical Limitations

• No trade can account for more than 40% of total earnings.
• Limitations on the maximum contract size
• Each seven-day cycle must include at least one trade day.
• Two-minute trade pause around significant economic announcements

Cost Structure

Monthly Fees

• Ranges from $80 to $665
• Competitive pricing in prop trading industry
• Fees vary by account type and size

In conclusion

For traders of all skill levels, My Funded Futures provides a full range of trading accounts. The platform distinguishes itself as a top prop trading firm offering a variety of account kinds with unique features, adaptable assessment procedures, and alluring profit-sharing schemes.

Static Milestone, Starter, Starter Plus, and Expert accounts are available to traders; each is made to fit particular trading philosophies and risk tolerances.  

The platform is a desirable choice for prospective professional traders due to its dedication to provide clear regulations, a variety of funding options, and favorable financial terms.

Frequently Asked Questions

1. How Do I Choose Between My Funded Futures Expert and Starter Accounts?

• Consistency of past trading performance
• Profitability over 30 days
• Presence of a solid trading plan
• Trading experience and skill level

2. Can An Account Size Be Changed After Approval?

• No, traders cannot change the account value once approved.

3. What Is The Minimum Profit Target?

• Profit target starts at $3,000 for a $50,000 account, with a $2,500 trailing threshold.

4. Are There Any Restrictions On Trading?

• Some accounts have news trading restrictions
• Maximum contract size limitations
• Copy trading allowed across ten accounts