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My Forex Funds vs The Trading Pit – Full Comparison

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My Forex Funds

SurgeTrader

In this article, we’ll be comparing two prop firms, My Forex Funds and The Trading Pit.

Let’s look at all details.

Prop Firms General Details

In this first table, we compare the year where each prop firm was founded, where their offices are located, and how much balance you can get to trade after scaling (when applicable).

Prop Firm Details My Forex Funds The Trading Pit
Year Founded 2020 2021
Offices Location Canada Liechtenstein
Maximum Balance $2,000,000 $5,000,000
Keep First Profits Challenge Fee Challenge Fee

Instruments

Here’s a list of all instruments supported by My Forex Funds and The Trading Pit. I divided the list into two parts to show CFDs products and Futures products.

Instruments CFDs My Forex Funds The Trading Pit
Forex
Indices
Metals
Commodities
Stocks
Crypto
Instruments Futures My Forex Funds The Trading Pit
Equity Futures
Foreign Exchange Futures
Agricultural Futures
Energy Futures
Interest Rate Futures
Metals Futures
Crypto Futures
Bonds Futures
Instruments Crypto (non-CFDs) My Forex Funds The Trading Pit
Crypto Spot
Crypto Futures
Crypto Options

Funding Program Types

Prop firms have different program types to achieve a funded account.

Here’s the resume and comparison of the My Forex Funds and The Trading Pit different program types.

Prop Firm Programs My Forex Funds The Trading Pit
One-Step Evaluation
Two Step Evaluation
Instant Funding

Instant Funding Comparison

Instant funding programs give you access to a funded account immediately without needing to pass any challenge.

Instant Funding Rules My Forex FundsMy Forex FundsMy Forex FundsThe Trading Pit
Program Name RapidAccelerated ConventionalAccelerated EmphaticN/A
Profit Target 10%20%
Max Daily Loss
Max Daily Drawdown 5%
Max Loss 12%5%10%
Max Drawdown
Minimum Trading Days 3/week
Maximum Trading Days
Profit Split 12%50%50%

One-Step Program Comparison

One-Step programs are programs that require a single challenge to be passed. As soon as you pass the challenge, achieving the required targets without breaking any rules, you’ll be rewarded with a funded account to trade.

Here’s the comparison table for the My Forex Funds and The Trading Pit prop firms.

One Step Rules My Forex FundsThe Trading PitThe Trading PitThe Trading PitThe Trading PitThe Trading PitThe Trading Pit
Program Name N/AForex LiteForex StandardForex ExecutiveForex VIPFutures LiteFutures Standard
Profit Target 10%10%10%10%5%3.3%
Max Daily Loss 4%4%4%4%1.3%1%
Max Daily Drawdown
Max Loss
Max Drawdown 7%7%7%7%2.5%2%
Minimum Trading Days 555533
Maximum Trading Days 3030
Profit Split 50%, up to 70%50%, up to 70%60%, up to 80%60%, up to 80%60%, up to 70%60%, up to 70%

Two-Step Program Comparison

Two-Step programs require that you pass two different challenges before getting funded. Usually, each phase or each challenge has different targets and rules.

Here’s the comparison for My Forex Funds and The Trading Pit.

Two Step Rules My Forex FundsThe Trading PitThe Trading Pit
Program Name EvaluationFutures ExecutiveFutures VIP
Profit Target Step 1 8%2%1.2%
Profit Target Step 2 5%2%1.2%
Max Daily Loss 1.7% + 0.7%1% + 0.6%
Max Daily Drawdown 5%
Max Loss 12%
Max Drawdown 2.3% + 2.3%2% + 2%
Min Trading Days Step 1 533
Min Trading Days Step 2 533
Max Trading Days Step 1 3030 (total both phases)60 (total both phases)
Max Trading Days Step 2 6030 (total both phases)60 (total both phases)
Profit Split 75%, up to 85%60%, up to 80%70%, up to 80%

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Trustpilot Reviews

Trustpilot is a reputable platform when it comes to reviewing products and services.

Here is the rating that My Forex Funds and The Trading Pit have on Trustpilot.

Trustpilot Stats My Forex Funds The Trading Pit
Stars
Trustpilot Rating 0/5.0 4.8/5.0
Number of Reviews 12,146 98

Free Stuff

Being able to test a prop firm before we commit and purchase is a good thing. We can get used to their trading platform, and understand spreads, commissions, and rules.

Some proprietary firms also offer free repeats in some circumstances, and also free resets, to be able to reset our account before the challenge period is over, in case things are not going as we wanted.

Here’s the comparison for My Forex Funds and The Trading Pit prop firms.

Free Stuff My Forex Funds The Trading Pit
Free Trial
Free Repeat
Free Reset

Trading Styles

Some prop firms may be better for you than others depending on your trading style. In this table, you can see the comparison between the trading styles allowed by My Forex Funds and The Trading Pit prop firms.

Trading Styles My Forex Funds The Trading Pit
Scalping
Day Trading
Swing Trading
Copy Trading
News Trading
EAs/Bots/Algos Trading
Arbitrage Trading
HFT Trading

Trading Hours

Although most proprietary firms are more oriented to day trading, some allow holding positions overnight and even on weekends.

Here’s what is allowed by My Forex Funds and The Trading Pit.

Trading Hours My Forex Funds The Trading Pit
Holding Overnight
Holding Over Weekend

Trading Platforms

We all like to use the trading platform that we are used to. For this reason, prop firms support different trading platforms.

Here’s an extensive list of the platforms supported by My Forex Funds and The Trading Pit.

Supported Platforms My Forex Funds The Trading Pit
MT4
MT5
cTrader
TradingView
MatchTrader
DXtrade
Proprietary
Web
NinjaTrader
Tradovate
Rithmic
TigerTrade
OptimusFlow
InsideEdge Trader
Volfix
ATAS
Overcharts
Medved Trader
Quantower
QST
ScalpTool
TSLAB
TradeNavigator
SierraChart
MultiCharts
Photon
MotiveWave
RInvestor
Bookmap X-Ray
T4
Jigsaw Daytradr
Edgeclear
Finamark
Agena Trader
QScalp
Track N Trade
eSignal
Collective2
Trader Evolution
EdgeProX

Leverage

The leverage provided by the prop firm may be an important factor when choosing it. This is especially true for day trading or scalping, where the position size is usually significantly bigger than for swing trading.

Here’s a comparison of the leverage provided by My Forex Funds and The Trading Pit prop firms.

Leverage CFDs My Forex FundsMy Forex FundsMy Forex FundsMy Forex FundsThe Trading Pit
Program Name EvaluationRapidAccelerated ConventionalAccelerated EmphaticAll
Forex 1:1001:5001:501:1001:30
Indices 1:1001:5001:501:1001:10
Metals 1:1001:5001:501:1001:10
Commodities 1:1001:5001:501:1001:10
Stocks 1:2
Crypto 1:51:51:51:51:2
Leverage Futures My Forex FundsMy Forex FundsMy Forex FundsMy Forex FundsThe Trading Pit
Program Name EvaluationRapidAccelerated ConventionalAccelerated EmphaticAll
Futures 1:1
Crypto (non-CFDs) My Forex FundsMy Forex FundsMy Forex FundsMy Forex FundsThe Trading Pit
Program Name EvaluationRapidAccelerated ConventionalAccelerated EmphaticAll
Crypto

Payments

Proprietary firms have several ways of payment.

Here’s a table with the comparison between the payment methods accepted by My Forex Funds and The Trading Pit.

Payment Types My Forex Funds The Trading Pit
Wire Transfer
Paypal
Neteller
Skrill
Crypto
Credit Card
Google Pay
Payoneer
Coinbase
Binance
Revolut
Wise
Deel Card
Nuvei
Checkout.com
Confirmo
Perfect Money
PayRetailers
Paysera

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