(MENAFN- News Direct) Toronto, Ontario | November 23, 2022 08:10 AM Eastern Standard Time
Proprietary trading, or prop trading, is one of the lower-risk options with relatively high rewards available to traders.
prop trading is when traders buy and sell securities using a firm's own money to make a profit. The trader makes money through commissions or a salary. However, because of this model, the firm has the authority and control over how a trader engages with its platform and what programs are available to them to sign up for.
MyForexFunds flips the switch on this process. It allows investors to either undergo the traditional evaluation period associated with prop trading or choose an accelerated program that allows them to start trading right away.
the traditional prop trading process is that users will pay an audition fee and then they undergo a trial or evaluation period to determine whether they are successful enough to receive a funded amount from the firm and begin trading for the firm. Trial times and qualifications are different depending on the firm.
In recent years, nonevaluation prop trading firms without the trial evaluation period have appeared on the scene. While there is the obvious advantage of trading immediately, there are downsides of higher original fees and less profit split than traders who undergo the evaluation process with firms that offer the evaluation model. For traders, it can be a difficult choice between a firm with evaluation or no evaluation. At MyForexFunds, traders can rest easy knowing they have more autonomy and several programs at their disposal.
myforexfunds is an Ontario-based prop trading firm that arrived on the scene in 2020. Since then, the company has grown rapidly. It has more than 120,000 traders from about 80 countries. Its tagline is Your Success Is Our Business, and the company offers multiple options based on the trader's goals and level of experience.
MyForexFunds has over 300 staff worldwide and serves more than 2,000 global traders per day. It says it has cemented itself as a market leader and is working on expanding its business into other niches that will bring even more diverse trading and funding accounts to its traders.
MyForexFunds Gives You The Power To Choose MyForexFunds' Evaluation Program offers some of the best benefits in the prop firm market. The Evaluation Program has two phases: Phase I is an evaluation phase, and Phase II is an establishment phase. These two phases have the lowest targets in the market at just 8% for Phase I and 5% for Phase II. The company offers free retakes and free extensions. The Evaluation Program also offers up to 85% of profits once the user reaches the funded account stage.
However, if you do not feel ready to try out the Evaluation Program, the company has other options like the accelerated program . The Accelerated Program allows users to jump right into trading and access funding from $2,000 to $50,000. Down the line, someone who started off in the Accelerated Program can also try the Evaluation Program.
MyForexFunds is a champion for traders, giving them the freedom and options to explore and choose what makes sense for them. Unlike other firms with more limited options, MyForexFunds has a system where users have access to the best of both worlds with competitive opportunities, payouts and funding access.
To learn more about myForexFunds Evaluation Program, visit the company website.
MyForexFunds is the world's leading Forex prop firm with over 30,000 live funded traders, trading FOREX, CFD's and Cryptos and offering High profit splits, Lowest prices and Easy to achieve scale up plans.
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