Retail traders can now access greater capital than before with less financial commitment through a new avenue offered by prop firms. Retail traders’ ability to deposit large amounts of personal funds into a brokerage account is becoming less desirable, as they can now demonstrate their trading abilities through a series of evaluation stages and potentially trade with accounts valued at hundreds of thousands of dollars. In the past few years, there has been a lot of talk about FTMO and MyForexFunds, two prop trading firms often mentioned in the same breath.
At a surface level, both FTMO and MyForexFunds offer similar services to retail traders, but when looking deeper, many important differences become apparent between these two prop trading firms. Each prop trading firm operates a little differently with respect to evaluation, pricing, platform offerings, and overall trader experience in proprietary trading.
This guide will take a thorough look at FTMO vs. MyForexFunds by analyzing their evaluation structure, trading conditions offered by each firm, and the commission rates that each firm has in place for their clients to allow you to understand which prop trading firm best delivers the evaluation and funding option that complements your trading methods and long-term trading objectives.
What Is A Prop Trading Firm?
When comparing FTMO and MyForexFunds, it is important for you as a trader to have an understanding of the underlying concept of prop trading as it applies to how prop trading firms provide capital to traders trading via their tradeable funds offered to you as a retail trader.
Essentially, if a trader meets the requirements to start trading on the prop firm's capital, he or she will keep a certain percentage of the profits made once an evaluation process is completed, during which the firm will decide whether to fund the trader.
Examples of the evaluation process that prop trading firms utilize can vary from firm to firm, but the following items would typically be included in any evaluation:
- Maximum Daily Loss Limits
- Maximum Overall Drawdown
- Minimum Profit Target
- Minimum Amount of Trading Days prior to funding
Using prop trading allows a trader to grow their trading with less financial risk, enabling them to scale.
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Companies Overview
FTMO is a proprietary trading firm based in Prague, founded in 2015. It gained popularity for its structured evaluation process and professional trader support.
FTMO uses a two-step process: the FTMO Challenge and Verification. Passing both grants access to an FTMO-funded account.
Some major features that have contributed to FTMO’s strong reputation include;
• Structured risk management rules
• Professional analytical toolsforh trading• Scaling plans for profitable traders• Reliable payout procedures
Most traders value FTMO's focus on long-term trading consistency and risk management over short-term profit targets.
My Forex Funds Overview
MyForexFunds was incorporated several years after FTMO and has quickly become very popular due to its flexible evaluation models and competitive pricing.
The firm offers various account types, including evaluation and instant-funded accounts, allowing traders to start immediately after payment.
MyForexFunds appeals for its accessibility. Low-cost, simple account creation attracts traders looking to test prop trading without significant expense.
Rapid growth led to increased scrutiny of MyForexFunds, prompting industry discussions on regulation, transparency, and operations.
Key differences between FTMO and MyForexFunds
Both firms provide prop trading environments, but their evaluation models and operational structures differ. Key points of comparison include evaluation process structure, risk management rules, account types, entry costs, payout procedures, and transparency. Below is a comparison of the most important aspects traders typically consider when choosing a prop firm.
Feature | FTMO | MyForexFunds |
Founded | 2015 | 2020 |
Headquarters | Prague, Czech Republic | Toronto, Canada |
Evaluation Model | Two-step challenge | Multiple models (Evaluation & Instant Funding) |
Profit Split | Up to 90% | Up to 85–90% depending on program |
Maximum Account Size | Up to $400,000 (with scaling) | Up to $300,000+ depending on model |
Platforms | MT4, MT5, cTrader | MT4, MT5 |
Maximum Daily Loss | Typically 5% | Usually around 5% depending on program |
Maximum Overall Drawdown | 10% | 10–12% depending on model |
Minimum Trading Days | Required | Often flexible depending on account type |
This table highlights how both firms share similar risk structures but differ in evaluation flexibility and platform options.
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Comparison of the Evaluation Process
The evaluation process is a key difference between FTMO and MyForexFunds.
The evaluation process at FTMO consists of two discrete parts — a clearly defined structure for two phases: the FTMO challenge phase (first phase) and the verification phase (second phase). In the challenge phase, the trader must achieve a profit target while adhering to very stringent risk parameters. If the trader is successful in the challenge phase, he will move on to the verification phase, where the profit target has been reduced, and the same risk parameters as in the challenge phase continue to apply.
After completion of both phases, the trader will receive a funded trading account.
In contrast, MyForexFunds offers multiple evaluation options for traders to choose from based on their level of experience. The trader can select either a standard challenge model or a quick funding program, with the latter providing quicker access to capital. This flexibility is what attracted many traders to MyForexFunds. Profit expectations and rules can vary by program.
Trading Conditions & Platforms
Trading conditions can be among the most significant factors in overall trading success.
FTMO supports multiple trading platforms: MetaTrader 4, MetaTrader 5, and cTrader, allowing traders to use the platform of their choice.
They have also developed a proprietary analytics platform that enables traders to analyze performance metrics, risk exposure, and trading behavior.
In comparison, MyForexFunds only supports the MetaTrader platform. The lack of alternatives limits traders' ability to choose a platform; however, since MT4 and MT5 are the two most popular trading platforms used by retail traders, this is unlikely to be an important factor in determining which company to affiliate with.
Both companies offer access to the major forex pairs, indices, commodities, and cryptocurrencies, depending on the account type.
Profit Distribution and Scaling Opportunities
Profit distribution ranks among the primary reasons traders join a prop firm, especially for those comparing the Best Prop Firms with High Profit Split.
FTMO provides approximately 80% profit sharing (split) at the outset, with the opportunity to increase to 90% based on certain metrics through a scaling program. Traders who consistently perform at a high level will also increase their account size over time.
MyForexFunds similarly offers a profit-sharing opportunity that can reach 90% based on the trader's selected account structure.
However, the main difference between FTMO and MyForexFunds lies in their structure: FTMO offers a systematic scaling plan aimed at stable portfolio growth, whereas MyForexFunds provides traders with more flexibility in how they enter the program.
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Risk Management Rules
Both companies operate under the same strict risk management policies.
Examples of risk policy include:
· Daily loss limits,
· Overall drawdown limits,
· Limitations: excessive risk exposure.
The amount of control over traders’ risks is very strictly enforced by FTMO. If a trader breaks any of their rules, they will either 1) automatically fail the challenge or 2) lose their account.
MyForexFunds has similar risk profiles, but the exact limits may differ depending on the model you choose.
These rules protect the firm’s capital and promote responsible trading.
Related Articles: Daily Drawdown vs Maximum Drawdown Explained
What Is the Best Prop Firm to Trade?
When deciding between FTMO and MyForexFunds, it really comes down to the trader’s specific goals and trading experience.
Traders seeking a more structured evaluation process and robust risk management support tend to choose FTMO, with a reputation for professionalism, extensive trader education, and transparent trading rules.
Traders seeking more flexible funding models and lower entry costs tend to prefer MyForexFunds.
The key factor in choosing a prop firm isn’t profit share or quick funding. Disciplined execution, consistent strategy, and risk management matter most.
No matter how good a prop firm is, it cannot make up for bad trades.
Summary
The FTMO vs MyForexFunds case study, as highlighted in Wikilix Broker Reviews, showcases the different approaches proprietary trading firms use to achieve the same core objective: identifying profitable traders and providing them with access to larger trading capital.
FTMO has built a strong reputation in the industry through its structured framework, disciplined approach, and high-quality trading tools. Its two-step evaluation process is designed to encourage consistency and long-term performance rather than short-term gains.
MyForexFunds, on the other hand, gained rapid popularity due to its flexible funding models and low entry barriers. Many traders are attracted to the firm because of its accessible programs and the ability to move through the evaluation process more quickly.
Ultimately, choosing the right prop firm depends on a trader’s individual goals and preferences. Traders who value structure and stability often lean toward FTMO, while those looking for flexibility may find alternative funding models more suitable.
Regardless of the choice, long-term success in prop trading always comes down to disciplined risk management, consistent execution, and the patience required to navigate the markets effectively.
