What WikiFX is
| WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. |
| WikiFX is able to evaluate the safety and reliability of more than 34,000 global forex brokers. |
| WikiFX gives you a huge advantage while seeking the best forex brokers. For more information, such as the review and exposure of brokers, please visit our website (https://www.WikiFX.com/en) |
About My Forex Funds(MFF)
Founded in July of 2020, MFF claimed itself to be one of the leading forex Prop trading firms. With over 300 staff worldwide and 2000+customers per day from around the globe, My Forex Funds has cemented itself as a market leader. However, it has not given its registered office to the public so far. According to its website, MFF is currently working on expanding its business into similar niches to offer Funded trading accounts to more people. MFF strives to provide programs, services, and information that assists clients interested in the Forex or commodities markets to become more profitable, self-sustainable, and efficient when trading.
Programs/Accounts
To enhance investors' trading results, MFF offers clients three different programs. They are the Rapid program, Evaluation program, and Accelerated program.
(source: MFF website)
Non-MT4/MT5 Platform
As we know, the MT4 is currently the most popular forex trading platform along with the MT5 on the market. With a user-friendly interface, powerful charting tools, and a large number of custom indicators, MT4 and MT5 are available for automated trading and EA trading, helping traders of all levels to develop different trading strategies and help traders to get ahead in the financial markets. According to WikiFX, this broker doesn't use either MT4 or MT5 platforms as its trading platform.
Is My Forex Funds legit？
No, My Forex Funds is not regulated by any regulatory agency, it doesn't hold a legitimate license. Therefore, your money is risky under their management. WikiFX has given MFF a very low rating of 1.1/10. please be aware of the potential risks.
(Note: Because different regions or countries have different levels of regulatory strictness, the score of the same broker might be slightly varied in other regions or countries. For details, please consult WikiFX customer service.)
Market Instruments
This broker offers a series of popular trading assets including Forex, Cryptocurrencies, Indices, and Metals.
Leverage
Different programs have different leverage ratios. For the Rapid program, the leverage is up to 1:500. For the Evaluation program, the leverage is up to1:100, For the Accelerated program, the leverage is up to 1:50.
Restricted Area
Please note that My Forex Funds does not directly solicit customers from Canada.
Feedback on Twitter
To figure out whether MFF is a scammer or not, we made a survey about MFF on Twitter.
Reviews on Twitter:
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My Forex Funds has more than one official account on Twitter, the most popular one is registered in January 2022. As of May 19th, 2022, It has 283 followers.
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One trader depicted that it is risky to invest in MFF. He warned that many traders will suffer a heavy loss when investing in MFF.
More Feedback from Traders
We also found the traders' feedback on Forexpeacearmy(FPA). The majority of traders on FPA had negative thoughts about this broker.
(source: Forexpeacearmy)
Trader complained that the customer support team of this broker is very poor. Eventually, he/she lost both time and money.
(source: Forexpeacearmy)
This broker praises MFF and he/she had no issues with MFF.
(source: Forexpeacearmy)
This trader asked MFF directly if MFF is a regulated broker, and MFF replied: “we don't need to be”
Exposure on WikiFX
As of May 19, 2022. WikiFX doesn‘t receive complaints from traders. However, it doesn’t mean MFF is a trustworthy broker.
Conclusion
Please be aware that My Forex Funds maybe get involved in a scam since it is not regulated. Due to the controversial feedback from traders, we advise you to find a better alternative and do more research before you make a decision. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP for free through this link (https://www.wikifx.com/en/download.html). Running well in both the Android system and the IOS system, the WikiFX APP offers you the easiest and most convenient way to seek the brokers you are curious about.
Click on My Forex Funds' WikiFX page for details
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