Is MyFlashFunding a legit forex prop firm? What are their evaluation programs? What is their discount code?
- Achievable 6% profit targets
- Up to $400,000 in trading capital
- No Set Time Limits for Trading
- One-step and two-step funding
- Initial payout in 30 days
- High commission costs
What is MyFlashFunding?
MyFlashFunding, a proprietary trading firm, was established on April 27, 2023, and commenced operations on August 2, 2023, under the leadership of CEO Blake Carter. Headquartered in the United States, MyFlashFunding extends its offerings to traders worldwide through two distinctive funding programs: a one-step and a two-step evaluation challenge.
Traders collaborating with MyFlashFunding have the opportunity to amalgamate trading accounts with a combined value of up to $400,000. Furthermore, they have the potential to scale their accounts to an impressive $2,000,000. MyFlashFunding facilitates trading through the MetaTrader 4 and MetaTrader 5 platforms, with ThinkMarkets serving as their partnering broker.
For those seeking their official office, MyFlashFunding is situated at 401 Pine Street, Saint Louis, MO 63102.
Meet the CEO of MyFlashFunding Company:
Having acquired his first funded account in 2020, Blake embarked on a journey that would grant him a profound understanding of the intricate workings of proprietary trading desk companies. His exploration delved into the multifaceted aspects of this world, encompassing both the positive and negative elements, as well as the challenges that traders encounter within it.
Armed with these experiences and a profound sense of insight, Blake was inspired to establish MyFlashFunding. This company was conceived as a beacon of opportunity for traders, offering them a unique chance to secure virtual financing swiftly and with remarkably few restrictions.
At the core of Blake’s mission is his unwavering commitment to transparency and value delivery. He has a fervent dedication to steering clear of superficial interactions and is resolute in his pursuit of fostering positive change in every individual he engages with. This commitment to meaningful engagement and progress is vividly evident in the vibrant culture that Blake has fostered at MyFlashFunding.
The company has been carefully curated to provide traders with an array of benefits, including a robust feedback system, biweekly conversations with the CEO, guest speakers, and various initiatives designed to enhance the lives and experiences of traders under his guidance.
Joining the MyFlashFunding community promises to be a rewarding experience filled with a spirit of exploration and growth within the trading industry. It’s an invitation to embark on a path of discovery and development, under the dedicated and visionary leadership of Blake, in the dynamic world of trading.
MyFlashFunding Funding Programs and Challenges: Rules and Requirements
MyFlashFunding presents traders with a choice between two distinctive programs:
- Two-Step Evaluation Accounts
- One-Step Evaluation Accounts
MyFlashFunding’s evaluation account approach unfolds in two phases, designed to identify steadfast and disciplined traders while offering leverage of up to 1:100. Let’s delve into the specifics of each phase:
In the initial phase of evaluation, traders are tasked with reaching a 6% profit milestone. Crucially, they must do so while rigorously adhering to a 4% daily loss limit or an overarching 8% loss threshold. This phase is characterized by its flexibility; there are no mandatory minimum or maximum trading day requirements. Advancing to the subsequent phase is contingent solely upon achieving the 6% profit objective without exceeding the stipulated daily loss parameters.
In the second evaluation phase, traders face a similar challenge: achieving a 6% profit target while maintaining strict adherence to the 4% daily loss limit and the overarching 8% loss threshold. Like the first phase, there are no constraints regarding the minimum or maximum number of trading days. Transitioning to the fund accounts entails merely accomplishing the 6% profit milestone while upholding fidelity to the maximum daily loss and maximum loss thresholds.
Successful completion of both evaluation phases leads to the grant of a funded account devoid of profit targets. Traders are now obligated to adhere to a 4% daily loss limit and the overarching 8% loss threshold. The initial payout occurs 30 calendar days after the first position enters the funded account. Subsequently, all payouts follow a weekly schedule. The profit-sharing arrangement consists of an 80% split, with gains realized within your funded account forming the basis for this division.
MyFlashFunding Broker: Do They Use a Reliable Platform?
MyFlashFunding has chosen ThinkMarkets as its broker, a strategic partnership that enhances its trading capabilities. ThinkMarkets is a prestigious, multi-asset online brokerage with its headquarters situated in both London and Melbourne. This global presence underscores their commitment to serving traders from various regions.
ThinkMarkets stands out by offering seamless and expedient access to a diverse array of financial markets, making it a preferred choice for many traders. Their platform choices include some of the most renowned and reliable trading solutions in the industry, namely MetaTrader 4, MetaTrader 5, and their proprietary ThinkTrader platform. This selection caters to traders of all backgrounds, from beginners to seasoned professionals, providing the tools and features required for a successful trading experience.
Additionally, ThinkMarkets facilitates trading on the popular Meta Trader 4 and MetaTrader 5 platforms. These platforms are known for their user-friendly interfaces, advanced charting tools, and extensive range of technical indicators, making them versatile options for traders with various preferences and trading styles.
By leveraging ThinkMarkets as their broker, MyFlashFunding ensures that their traders have access to these reputable platforms and a broad spectrum of trading instruments, enabling them to make informed decisions and execute their strategies effectively in the financial markets.
MyFlashFunding Fees: How Much Do They Charge?
Trading fees at MyFlashFunding are structured as follows:
FOREX: 7 USD per LOT
COMMODITIES: 7 USD per LOT
INDICES: 7 USD per LOT
CRYPTO: 7 USD per LOT
MyFlashFunding Proof of Payment:
MyFlashFunding marked its official incorporation on April 27, 2023, a significant milestone for the company. However, the official launch event, signifying the beginning of their active operations, was celebrated a few months later, on August 2, 2023.
When you choose to partner with MyFlashFunding, you gain access to their unique funding programs, which include a one-step and a two-step evaluation process. Once you successfully achieve funded status within these programs, you can anticipate your first payout after a waiting period of 30 calendar days. Subsequently, payouts will be made available on a weekly basis. An attractive feature for traders is the 80% profit split, meaning that they receive 80% of the profits generated on their funded accounts.
As MyFlashFunding is a recently launched proprietary trading firm, there is currently limited information available regarding the proof of payouts to their traders. However, it’s important to note that this section will be updated as more traders successfully attain their payouts and provide the necessary documentation. Despite the limited data, there is already evidence of the initial batch of traders achieving funded status with MyFlashFunding, which indicates the company’s commitment to delivering on its promises to traders.
MyFlashFunding Customer Support:
MyFlashFunding maintains an active presence on various social media platforms, making it easy for traders and interested individuals to connect with them and stay updated on their offerings and updates.
Here’s a breakdown of their social media presence and support channels:
- Instagram: MyFlashFunding’s Instagram account boasts a following of 603 users, providing a visual glimpse into their activities and updates.
- Twitter: On Twitter, MyFlashFunding has a substantial following of 5,118 users, where they share real-time information, news, and insights related to trading and their services.
- Telegram: For more in-depth discussions and updates, MyFlashFunding hosts a Telegram channel with over 37 members, where users can engage in conversations, receive notifications, and gain valuable insights.
- Discord: Their Discord channel is a vibrant community with over 4,500 members, offering a platform for discussions, collaboration, and networking among traders and enthusiasts.
MyFlashFunding places a strong emphasis on providing comprehensive support to its users.
- FAQ Page: They offer a FAQ page on their website, containing a wealth of information covering general details, account rules, and platform-related queries. This resource serves as a quick reference for common questions.
- Email Support: If you need personalized assistance, you can reach out to their support team via email at email@example.com. This direct communication channel allows for detailed inquiries and assistance.
- Live Chat Support: MyFlashFunding’s website features a live chat support team, ensuring immediate assistance for any inquiries or concerns you may have about the company’s offerings.
- Discord Customer Support: Another option to interact with their support team is through their Discord channel, where a dedicated customer support team is readily available to address your queries and provide assistance promptly. This avenue offers a convenient and interactive means of getting your questions answered and issues resolved.
MyFlashFunding’s multi-pronged approach to support and its active presence on social media platforms underpin its commitment to keeping traders and users well-informed and well-supported throughout their trading journey.
What makes MyFlashFunding unique?
MyFlashFunding distinguishes itself from the majority of industry-leading proprietary trading firms by offering two distinctive funding programs: a one-step and a two-step evaluation process. What sets them apart even further is their commitment to straightforward and relaxed trading rules, offering traders a level of flexibility and freedom that is hard to find elsewhere.
Before becoming eligible for payouts, traders must pass through two distinct phases of MyFlashFunding’s two-step evaluation program. Throughout both phases, traders must achieve a 6% profit target, all the while adhering to a 4% maximum daily loss and an 8% maximum loss limit. One of the notable features of this program is the absence of any specific timeframe within which traders need to achieve their goals. There are no minimum trading day requirements either, making it distinct from many other prop firms. Furthermore, this two-step evaluation accounts for a scaling plan, and when compared to its industry peers, MyFlashFunding stands out with its remarkably low-profit targets and a generous trading period that boasts an absence of minimum trading day requirements.
On the other hand, MyFlashFunding also extends a one-step evaluation program to traders, requiring them to successfully complete a single phase in order to qualify for payouts. This program comes with a 10% profit target, coupled with a 4% maximum daily loss and a 6% maximum trailing loss rule. Much like the two-step evaluation, the one-step program offers an unlimited trading period and doesn’t impose any minimum trading day requirements. A scaling plan, once again, is in support of this. When compared to other leading proprietary trading firms, MyFlashFunding’s one-step evaluation program stands out for its unrestricted trading period, absence of minimum trading day requirements, and commitment to allowing traders to execute their strategies without restrictive limitations.
In summary, MyFlashFunding distinguishes itself from its industry peers through its dual evaluation approach and its commitment to providing traders with ample freedom in terms of trading rules. MyFlashFunding stands out as a distinctive and trader-friendly proprietary trading firm because of its one-step and two-step evaluation programs, which both give traders the freedom to trade without constraints and with flexibility.
MyFlashFunding Reviews: What Do Their Customers Say?
On Trustpilot, MyFlashFunding has 4.8 stars out of 5 stars, and a total of 162 customers reviewed them there. They are a verified company on Trustpilot. The company is in an excellent state on this platform.
Positive Customer Responses on Various Rating Websites:
#1. Joseph Ekanem lauds MyFlashFunding for having an exceptional customer support team within the professional industry. Their responses are not only quick but also punctual. Furthermore, he commends them for offering the most attractive profit target of 6%, which is the lowest in the proprietary trading firm sector.
MyFlashFunding’s top priorities are providing the finest trading conditions and ensuring the utmost convenience for traders. In his opinion, they unequivocally stand out as the best in the field.
#2. Amzi Timothy enthusiastically describes his experience with MyFlashFunding as lightning-fast, just like a real flash. He expressed his delight at the seamless and swift interaction he had with their support team. Notably, all his inquiries were promptly addressed and resolved to his satisfaction. He also shares that his friends have successfully received payments from this firm.
Amzi’s excitement extends to his recent acquisition of a $10,000 evaluation account from MyFlashFunding, with promising prospects of securing funding in the near future. He believes that every aspect of their service is top-notch, to the point where he wishes he could give them more than 5 stars in a rating. In conclusion, he emphasizes that experience is the best teacher, underscoring his positive encounter with MyFlashFunding.
#3. Hustlexquo commends the highly reliable and prompt support team. Despite winning a giveaway account two months ago and not being able to claim it due to his busy schedule with school and work commitments, he highlights how they empathetically considered his situation and provided assistance. He highly recommends their service and wishes them all the best.
#4. Sunny recounts that he inadvertently neglected to trade on one of his evaluation accounts and subsequently received an automatic email notifying him of its closure. An admin greeted him right away after opening a support ticket. Sunny explained the situation, and without any further inquiries, his account was swiftly reinstated. He is highly impressed with this remarkable service. Furthermore, he commends the excellent spreads and execution offered. Sunny enthusiastically recommends their services.
#5. Kenito Opina proudly shares that he successfully cleared Phase 2 with MyFlashFunding’s proprietary trading firm. He exhorts anyone with questions or concerns to submit a support ticket through their Discord channel and emphasizes the company’s top-notch customer service.
Negative Customer Responses on Various Rating Websites:
#1. Aliazan echoes the sentiment that they are unavailable in Pakistan. However, Deel and its services are accessible and operational in Pakistan.
#2. Rashid Shinwari purchased a $100,000 trading account, and initially, everything seemed to go well, with the account nearing its target. However, despite adhering to the 4% daily drawdown limit, his account was closed and disabled. He provided evidence from his dashboard to show it was within the limit, but after lengthy discussions, the company failed to provide any evidence of an account breach.
The company’s responses were long and devoid of proof, leading Rashid to believe MyFlushFunding was a scam. He advises against buying even $10,000 accounts from them, as he finds it to be a waste of time and money. He’s willing to share proof via email but notes that the company rejected the evidence he provided and couldn’t offer assistance in their support chat.
#3. Arif Kamal points out that while they use Deel for payments, which is already accessible in Pakistan, the program does not permit traders from Pakistan to sign up.
Wrapping it up:
In summary, MyFlashFunding is a reputable proprietary trading firm that provides traders with the choice between two funding programs: one-step and two-step evaluation accounts. They offer straightforward trading rules, an unlimited trading period, the ability to hold trades overnight and on weekends, and no lot size limitations or trading style restrictions.
The two-step evaluation involves completing two phases, requiring traders to reach 6% profit targets in each phase while adhering to 4% maximum daily loss and 8% maximum loss rules. There are no minimum trading day requirements, and traders can enjoy 80% profit splits and scaling opportunities.
The one-step evaluation necessitates completing a single phase with a 10% profit target, 4% maximum daily drawdown, and 6% maximum trailing drawdown rules. Just like the two-step program, there are no minimum trading day requirements, and traders can also earn 80% profit splits and scale their accounts.
MyFlashFunding is recommended for traders seeking a legitimate prop firm with clear rules and attainable trading goals. They offer favorable conditions for a diverse range of traders with unique strategies, positioning themselves as a promising player in the proprietary trading industry. Expect great things from MyFlashFunding in the future.