What Happened to MyForexFunds?
MyForexFunds was one of the largest proprietary trading firms, operating since 2014 with hundreds of thousands of funded traders globally. However, in April 2023, the U.S. Commodity Futures Trading Commission (CFTC) took enforcement action against MyForexFunds, citing violation of commodity futures trading regulations and operating without proper registration.
The CFTC's action effectively shut down MyForexFunds' operations in the United States and forced the company to cease accepting new traders. This left many established traders searching for comparable alternatives that offered MyForexFunds' account structures, profit splits, and trading rules.
Important Note: If you were a MyForexFunds trader, your funded status is no longer valid. However, many alternative prop firms accept transfers of proven trading records, allowing you to restart with reduced evaluation requirements.
Why Traders Loved MyForexFunds
Understanding what made MyForexFunds popular helps identify the best alternatives:
- Two-phase evaluation system that felt achievable for most traders
- Generous 80/20 profit split on successful accounts
- Low evaluation fees ($99-$299 depending on account size)
- MT4 platform support with familiar trading conditions
- Transparent withdrawal process with reliable payouts
- Flexible trading rules allowing scalping and EAs
Top 3 MyForexFunds Alternatives
1. FundedNext — Best Overall Replacement
FundedNext has emerged as the strongest MyForexFunds alternative, particularly for traders seeking similar evaluation structures and profit splits. The firm offers two distinct products: the Evaluation (2-phase) and the Express (1-phase) account.
Key Features: FundedNext provides up to 80/20 profit splits, low evaluation fees comparable to MyForexFunds, and fast growth from smaller to larger accounts. The firm has attracted many MFF traders specifically because their evaluation framework feels similar to MyForexFunds' approach.
| Metric |
MyForexFunds (Historical) |
FundedNext |
| Max Profit Split |
80/20 |
80/20 |
| Evaluation Fee |
$99-$299 |
$99-$299 |
| Account Sizes |
$5k-$500k |
$5k-$500k |
| Platform |
MT4 |
MT4/MT5 |
| Scalping |
Allowed |
Allowed |
2. FTMO — Most Established Alternative
FTMO is the world's largest proprietary trading firm by user base, with over 100,000 funded traders. While FTMO's evaluation is slightly stricter than MyForexFunds was, the firm offers superior account sizes, reliable withdrawals, and institutional-level support.
Key Features: FTMO offers consistent 80/20 profit splits, instant withdrawals once funded, flexible trading rules, and exceptional platform stability. The evaluation fees are similar to MyForexFunds, making the transition straightforward.
3. Blueberry Funded — Growing Alternative
Blueberry Funded, founded in Australia, has rapidly grown to serve displaced MyForexFunds traders. The firm maintains similar profit split structures and offers a friendly trader experience with responsive support.
Key Features: Blueberry provides competitive profit splits, reasonable evaluation requirements, and an intuitive onboarding process. The firm has become particularly popular among traders seeking a less corporate feel than FTMO while maintaining operational reliability.
Comparison Table: MyForexFunds Alternatives
What Happened to MyForexFunds?
MyForexFunds was one of the largest proprietary trading firms, operating since 2014 with hundreds of thousands of funded traders globally. However, in April 2023, the U.S. Commodity Futures Trading Commission (CFTC) took enforcement action against MyForexFunds, citing violation of commodity futures trading regulations and operating without proper registration.
The CFTC's action effectively shut down MyForexFunds' operations in the United States and forced the company to cease accepting new traders. This left many established traders searching for comparable alternatives that offered MyForexFunds' account structures, profit splits, and trading rules.
Important Note: If you were a MyForexFunds trader, your funded status is no longer valid. However, many alternative prop firms accept transfers of proven trading records, allowing you to restart with reduced evaluation requirements.
Why Traders Loved MyForexFunds
Understanding what made MyForexFunds popular helps identify the best alternatives:
Two-phase evaluation system that felt achievable for most traders
Generous 80/20 profit split on successful accounts
Low evaluation fees ($99-$299 depending on account size)
MT4 platform support with familiar trading conditions
Transparent withdrawal process with reliable payouts
Flexible trading rules allowing scalping and EAs
Top 3 MyForexFunds Alternatives
1. FundedNext — Best Overall Replacement
FundedNext has emerged as the strongest MyForexFunds alternative, particularly for traders seeking similar evaluation structures and profit splits. The firm offers two distinct products: the Evaluation (2-phase) and the Express (1-phase) account.
Key Features: FundedNext provides up to 80/20 profit splits, low evaluation fees comparable to MyForexFunds, and fast growth from smaller to larger accounts. The firm has attracted many MFF traders specifically because their evaluation framework feels similar to MyForexFunds' approach.
Metric
MyForexFunds (Historical)
FundedNext
Max Profit Split
80/20
80/20
Evaluation Fee
$99-$299
$99-$299
Account Sizes
$5k-$500k
$5k-$500k
Platform
MT4
MT4/MT5
Scalping
Allowed
Allowed
2. FTMO — Most Established Alternative
FTMO is the world's largest proprietary trading firm by user base, with over 100,000 funded traders. While FTMO's evaluation is slightly stricter than MyForexFunds was, the firm offers superior account sizes, reliable withdrawals, and institutional-level support.
Key Features: FTMO offers consistent 80/20 profit splits, instant withdrawals once funded, flexible trading rules, and exceptional platform stability. The evaluation fees are similar to MyForexFunds, making the transition straightforward.
3. Blueberry Funded — Growing Alternative
Blueberry Funded, founded in Australia, has rapidly grown to serve displaced MyForexFunds traders. The firm maintains similar profit split structures and offers a friendly trader experience with responsive support.
Key Features: Blueberry provides competitive profit splits, reasonable evaluation requirements, and an intuitive onboarding process. The firm has become particularly popular among traders seeking a less corporate feel than FTMO while maintaining operational reliability.
Comparison Table: MyForexFunds Alternatives
| Firm |
Evaluation Cost |
Max Account |
Best Profit Split |
Trading Platform |
| FundedNext |
$99-$299 |
$500k |
80/20 |
MT4/MT5 |
| FTMO |
$199 |
$200k |
80/20 |
MT4/MT5 |
| Blueberry Funded |
$99-$249 |
$250k |
80/20 |
MT4/MT5 |
Should You Transfer or Start Fresh?
If you were successfully trading with MyForexFunds, most alternative prop firms allow you to skip the full evaluation by providing trading history verification. This typically requires submitting your MyForexFunds trading statements. Most firms will reduce evaluation fees by 25-50% if you can demonstrate a consistent trading record from MyForexFunds.
Frequently Asked Questions
1. Can I withdraw my funds from MyForexFunds?
No. MyForexFunds accounts were frozen after the CFTC action. Any remaining funds were subject to regulatory proceedings. The company is no longer operating.
2. Will my trading history from MyForexFunds help me get funded elsewhere?
Yes. Most prop firms accept MyForexFunds trading statements as proof of trading ability. You may receive partial or full evaluation fee reductions by submitting your MFF records to alternative firms.
3. Are there other MyForexFunds alternatives besides FundedNext, FTMO, and Blueberry?
Yes. Firms like The5ers, Fundednext, and Bright Funded also serve similar markets. However, FundedNext, FTMO, and Blueberry most closely replicate MyForexFunds' evaluation structure and profit splits.
4. Why was MyForexFunds shut down?
The CFTC determined MyForexFunds was operating as an unregistered Introducing Broker (IB) and violating commodity futures trading regulations. The firm did not have proper CFTC registration to offer these services to U.S. traders.
5. Is it safe to trust alternative prop firms now?
Established firms like FTMO, FundedNext, and Blueberry have proven regulatory compliance and transparent operations. Research any firm's regulatory status and trader reviews before joining. PropFirmDealFinder vets all listed firms.
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