This MyForexFunds review looks at the firm after its attempted comeback and answers a simple question traders are still asking: is MyForexFunds actually usable again, or is it just operational on paper?
If you traded with MFF before the shutdown, or you are considering it now because the name is familiar, this review is written for you .It is for traders who have already learnt about drawdowns, rule-based trading, and prop firm risk and are in the process of getting funding or evaluating their trading.
This company isn’t a good fit for beginners, traders who need to know for sure that they are following the rules, or anyone who depends on prop trading for steady monthly income.
The point here is not to judge intent. It is to look at the structure, risk, and trader reality after the relaunch.
Quick Verdict
MyForexFunds is working again, but not in the same way it did before 2023. There is some operational control back, but trust, clarity, and long-term reliability are still not certain.
People who have been trading for a while might see it as a short-term test with a known risk. People who want things to stay the same should be careful or think about other options.
What Actually Happened to MyForexFunds
Before the relaunch matters, the shutdown still does.
MyForexFunds was forced to halt operations after regulatory action by the CFTC, which accused the firm of misrepresentation and improper handling of simulated trading activity. Accounts were frozen, payouts stopped, and traders were left without access or timelines.
After a prolonged legal process, the company regained control of certain Canadian assets. That development allowed MyForexFunds to resume limited operations and reopen parts of its platform.
What is often misunderstood is this: regaining assets does not automatically restore trader protections, payout certainty, or the original business model. Those are separate issues.
What Changed After the Relaunch
The relaunch is more restrained than the old MyForexFunds. The firm is operating with tighter internal controls and less flexibility than before.
Account structures are more conservative, enforcement is stricter, and the overall tone is more defensive. This is understandable given the past, but it also affects traders directly.
The core model has not changed. Traders still have to pay for evaluations, only make money if they follow all the rules, and only lose if they go over their loss limit. There is no new structure here; the only thing that changes is that the company takes less risk.
Understanding the Rules Without the Marketing
Most traders don’t fail prop firms because they can’t trade. They fail because they don’t understand the rules when they’re under pressure.
MyForexFunds follows the usual rules for the industry, such as daily drawdown limits, maximum loss caps, profit targets, and execution rules. These seem reasonable on paper.
In practice, the combination is not forgiving.
Daily drawdowns make emotional recovery trades less profitable. Trailing limits punish people who hold on during times of volatility. Profit goals make traders take more risks as they get closer to the end.
These problems aren’t just with MyForexFunds, but the room for error is small.
Common Rule Misunderstandings
A lot of traders think that only closed trades matter. No, they aren’t. Floating losses matter.
Some people think that one strong week means that payments will go smoothly. No, it doesn’t. If you break one rule, everything goes back to the beginning.
Competitors don’t often say how often good traders fail because they lose their discipline, not because they have a bad strategy.
Real Trading Situations Where Accounts Are Lost
This is what a typical failure pattern looks like.
A trader does well at first and quickly gets halfway to the profit goal. Confidence goes up. The size of the position goes up a little, often without the person knowing it.. A single loss during a choppy session breaches daily drawdown.
Another common situation involves holding trades during news. Even if news trading is technically allowed, spread widening alone can trigger a violation.
These are not beginner mistakes. They happen to experienced traders who underestimate how tight prop firm risk windows really are.
What Most Reviews Avoid Saying
Most MyForexFunds coverage focuses on whether the firm is “back.” That is not the real question traders should be asking.
More important questions include:
- How are payouts handled during operational stress?
- Are trader funds structurally protected?
- Does the firm benefit more from failed challenges than scaled traders?
People don’t often talk about these points directly because they make them uncomfortable. But they are more important than the features of the platform or the design of the dashboard.
Who Should Avoid MyForexFunds
If you swing trade, need to keep positions over the weekend, or need payout cycles that are easy to predict, MyForexFunds is not a good choice.
It is also not good for new traders. It’s not a good place to learn when there are strict rules and still some uncertainty.
If you can’t lose the challenge fee without getting upset, this isn’t the right company for you to test yourself with.
Strategy Fit Analysis
MyForexFunds is a good choice for traders who use fixed risk models, hold positions for a short time, and don’t want to be affected by big news events.
Scalping works best when there are lots of trades and hard stops. It is hard for strategies that rely on flexibility, recovery logic, or wide stops to work.
The company rewards people who follow orders, not those who are flexible.
Best and Worst Use Cases
Best for
- People who trade and see evaluations as controlled tests
- Those who have shown they can handle risk
- Goals that are funded for a short time, not for a long time
Worst for
- People who are new
- Traders who depend on their income
- Swing traders with long-term goals or who can choose their own trades.
How MyForexFunds Compares to Other Firms
Compared to FTMO, MyForexFunds is less stable and has less operational history after 2023. Our FTMO review talks about why many traders care more about consistency than price.
MFF seems more conservative than The Funded Trader, but it also seems less open. Our review of Funded Trader goes over this dynamic.
Our prop firm comparison guide has a more detailed breakdown that looks at drawdowns, payout reliability, and enforcement style across major firms.Traders wanting a broader, side-by-side breakdown of drawdown models and enforcement styles can review our detailed prop firm comparison.
Alternatives Traders Are Actually Using
Some traders have shifted away from forex CFD prop firms altogether.
One alternative is TradeThePool, a regulated stock prop firm operating with real market access and clearly defined loss limits. The structure is different and easier to evaluate from a risk perspective.
Readers can get up to 10 percent discount when purchasing through our TradeThePool link. This is not a promise of success, but it offers clearer rule interpretation and regulatory oversight.
Separating Facts From Opinions
Facts
ForexFunds got some of its assets back and started doing business again.
The company had stopped paying traders and letting them in before.
Thoughts
The relaunch gives you more control, but it doesn’t get rid of trust issues.
Traders should see MFF as a riskier company than one with a long history of success.
Separating these helps traders make decisions based on facts, not feelings.
Why Traders Still Fail, Regardless of Firm
Statistics from prop firms are harsh because the model makes psychology stronger.
Time pressure makes people trade. Drawdown rules punish people who are unsure. Paid evaluations make people feel attached.
MyForexFunds doesn’t cause these problems, but it also doesn’t keep traders from them.
Explanation of Prop Evaluations
A prop evaluation is not a test of skills. It’s a stress test for compliance.
Two traders with the same win rate can have different results just because of how consistent their risks are. Most traders don’t think this is important until it costs them an account.
Common Misinterpretations
Getting money once doesn’t mean you’ll always get it.
Profit goals don’t show long-term advantage.
Even for traders who make money, rules are not flexible.
More failures happen because of these misunderstandings than because of bad analysis.
Internal Reading for Context
Readers may also find these useful:
- Our FTMO review for traders who want stability
- Our review of Funded Trader for rule sensitivity
- Our article comparing prop firms with metrics side by side
- Our study of prop firm payouts.
TradeThePool Mention in Context
TradeThePool is set up differently, with clear limits and scaling for traders who like stocks and regulated environments. Readers can save up to 10% when they buy through our TradeThePool link.
Some people won’t like this, but it’s a better way to compare than most forex prop firms.
FAQs
Is MyForexFunds safe now that it’s back up?
Not as safe as when the business was closed, but not as safe as when it was open.
Is MyForexFunds easy for beginners to use?
No. The rules and lack of certainty make it not a good place for new traders to learn.
Do you guarantee payouts?
No prop firm promises to pay out. Stability and compliance are important.
Did MyForexFunds resolve all legal issues?
Some problems were fixed, but things that happened in the past still matter when figuring out risk.
Is MyForexFunds better than other prop companies?
It depends on how much risk you’re willing to take. A lot of traders like companies with cleaner records.
Final Perspective
This review of MyForexFunds doesn’t say if the company should get another chance. It’s about whether the structure fits your risk tolerance right now..
Some traders will pass and get paid. Many will fail for reasons unrelated to strategy. The relaunch changes the optics, not the fundamentals.
A good prop decision is made with caution, not hope.
