Forex Trading, QUOTES
My Flash Funding Review
In the world of trading, finding the right platform to showcase your skills and take your strategies to the next level is crucial. My Flash Funding is a platform that promises to empower experienced traders with virtual capital and a pathway to financial freedom. In this comprehensive review, we will explore the features, benefits, and evaluation processes offered by My Flash Funding to determine if it lives up to its promises.
Introduction: My Flash Funding’s Mission
My Flash Funding’s mission is clear: to aid skillful and experienced traders in maximizing their talents by providing them with a virtual funded trading account. The founders understand that success in the financial market requires not only a well-developed trading strategy but also sufficient capital to execute it effectively. They aim to bridge this gap and offer traders a helping hand to bring them one step closer to getting funded as a forex trader.
The Evaluation Process: Proving Your Skill
Before traders can become virtual flash traders with My Flash Funding, they must demonstrate their consistency and proficiency in trading. The platform offers two evaluation processes, each with its own set of rules and criteria.
1. The 2-Step Evaluation
The 2-step evaluation process is designed to thoroughly assess a trader’s skills. Here are the key rules for this evaluation:
- Unlimited Simulated Trading Period: Traders are given the flexibility to trade in a simulated environment without a fixed time constraint.
- 0 Simulated Minimum Trading Days: Unlike some other platforms that require a specific number of trading days, My Flash Funding allows traders to progress at their own pace.
- 4% Simulated Maximum Daily Loss: This rule ensures that traders manage their risk effectively and do not exceed a 4% loss on any given trading day.
- 8% Simulated Maximum Loss: Traders must stay within an 8% loss limit throughout the evaluation process.
- 6% Virtual Profit Target: The ultimate goal is to achieve a 6% virtual profit target. This target applies to both steps of the evaluation.
- Refundable Fees: To participate in the 2-step evaluation, traders are required to pay a fee, which varies based on the desired virtual account size. The fees are as follows:
- $97 for a $10,000 virtual account
- $187 for a $25,000 virtual account
- $297 for a $50,000 virtual account
- $497 for a $100,000 virtual account
- $977 for a $200,000 virtual account
It’s important to note that these fees are refundable to traders who successfullypass the prop firm trading challenge and become Virtual Flash Traders. The fee will be reimbursed from the initial Virtual Profit Split.
2. The 1-Step Evaluation
The 1-step evaluation process offers an alternative pathway for traders to prove their skills. Here are the key rules for this evaluation:
- Unlimited Simulated Trading Period: Similar to the 2-step evaluation, traders have the freedom to trade without time constraints.
- 0 Simulated Minimum Trading Days: Traders are not bound by a minimum trading day requirement.
- 4% Simulated Maximum Daily Loss: Risk management remains a priority, with a 4% daily loss limit in place.
- 6% Simulated Maximum Trailing Loss: In this evaluation, traders must ensure that their trailing losses do not exceed 6%.
- 10% Virtual Profit Target: The primary objective is to achieve a 10% virtual profit target in this one-step evaluation.
- Refundable Fees: Just like the 2-step evaluation, traders must pay a fee to participate in the 1-step evaluation. The fee varies based on the desired virtual account size:
- $107 for a $10,000 virtual account
- $207 for a $25,000 virtual account
- $307 for a $50,000 virtual account
- $507 for a $100,000 virtual account
- $1,007 for a $200,000 virtual account
As with the 2-step evaluation, these fees are refundable to traders who successfully complete the evaluation and become Virtual Flash Traders. The refund is provided from the initial Virtual Profit Split.
Benefits of My Flash Funding
Now that we have a clear understanding of the evaluation processes, let’s delve into the benefits of becoming a Virtual Flash Trader with My Flash Funding.
- Access to Virtual Capital: My Flash Funding provides traders with virtual capital, allowing them to execute their trading strategies without risking their own funds. This access to capital can significantly enhance a trader’s ability to maximize profit potential.
- No Minimum Trading Days: The absence of a minimum trading day requirement offers traders the flexibility to trade at their own pace. This freedom allows traders to focus on their strategy and performance rather than meeting arbitrary time constraints.
- Risk Management: The platform emphasizes responsible trading by implementing daily and trailing loss limits. This encourages traders to maintain discipline and protect their capital, a crucial aspect of long-term success in trading.
- Profit Targets: My Flash Funding sets clear profit targets for each evaluation process. Achieving these targets demonstrates a trader’s ability to generate consistent profits, which is a key factor in gaining access to a funded account.
- Refundable Fees: The fact that evaluation fees are refundable to successful traders is a strong incentive. It demonstrates the platform’s commitment to supporting traders on their journey to becoming Virtual Flash Traders.
- Unlimited Simulated Trading: The unlimited simulated trading period ensures that traders have ample time to refine their strategies, adapt to changing market conditions, and build a track record of success.
Conclusion: My Flash Funding – Empowering Traders
My Flash Funding presents a promising opportunity for experienced traders seeking to take their skills to the next level. The platform’s two evaluation processes, flexible trading conditions, risk management measures, and refundable fees make it an attractive option for traders looking to access virtual capital.
However, it’s important to approach My Flash Funding with a clear understanding of the evaluation criteria and the commitment required to meet the profit targets. Trading always carries inherent risks, and success is not guaranteed.
Overall, My Flash Funding’s mission to empower traders and provide them with the resources they need to succeed in the financial markets is commendable. If you are a skilled and disciplined trader looking for a platform to support your journey, My Flash Funding is worth considering as you work towards unlocking your trading potential and achieving financial freedom.
FAQ
What is My Flash Funding’s maximum drawdown?
My Flash Funding has a simulated maximum loss of 8% in the 2-step evaluation.
What is My Flash Funding’s profit target?
My Flash Funding has a 6% profit target for the 2-step evaluation and a 10% profit target for the 1-step evaluation.
What are My Flash Funding’s minimum and maximum trading days?
My Flash Funding offers no minimum or maximum trading days.
What are My Flash Funding’s challenge fees?
My Flash Funding’s challenge fees range from $97 to $1,007 depending on the evaluation and account balance.
Does My Flash Funding offer a retry?
No, My Flash Funding does not offer a free retry. However, if you breach your virtual account, in any step, you will receive a 10% discount to try again!
Does My Flash Funding offer a fee refund?
Yes, My Flash Funding offers a fee refund.
What is My Flash Funding’s profit split?
My Flash Funding offers an 80% profit split.
Does My Flash Funding offer a scaling plan?
Yes, My Flash Funding offers a scaling plan.
Does My Flash Funding allow expert advisors?
Yes, My Flash Funding allows expert advisors.
Does My Flash Funding offer a free trial?
Based on the web search results, it seems as if My Flash Funding does not offer a free trial.
What is My Flash Funding’s minimum deposit?
According to their website, My Flash Funding is not a broker and does not accept client deposits.
What are My Flash Funding’s brokers?
My Flash Funding uses ThinkMarkets who are a top forex broker.
What are My Flash Funding’s platforms?
According to their website, MyFlashFunding offers flexibility. They allow platform changes for evaluation accounts with clear trading history. Ongoing evaluation accounts first have to pass the trading objectives and a new trading platform can be requested for the next phase. Changing the platform is not possible if trades are placed on the account.
What is My Flash Funding’s leverage?
My Flash Funding offers different leverages as follows:
- Fx – 1:100
- Indices – 1:10
- Gold & Commodities – 1:20
- Crypto – 1:2
Is My Flash Funding legit?
Based on the web search results, MyFlashFunding is a legitimate prop firm that provides funding to traders. The reviewers praised the company’s customer service, fast response time, and lack of hidden rules or limitations. However, it is very important that you do your own research and read more reviews before making any decisions.
My Flash Funding’s alternatives
If you are looking for alternative prop firms to My Flash Funding, you may want to consider the following: FTMO, The Funded Trader, FundedNext, Maverick Trading, City Traders Imperium, The5%ers, OneUp Trader, TopstepFX, Earn2Trade, TopTier Trader, and so on.
