My Forex Funds was once a trusted name among prop traders, known for offering various programs such as the Rapid Program, Classic Evaluation Program, and Accelerated Program. These options catered to traders with different appetites, and they even had their own private brokerage, Traders Global Group, minimizing latency for smoother trades. With promises of profit splits up to 90% and capital scaling up to $2,020,000, it seemed like a haven for traders. On top of that, My Forex Funds evaluation phases were designed to attract traders with the allure of refundable challenge fees and bonuses. But the glossy exterior has cracked, revealing a darker truth.
Our capital, your skills
While My Forex Funds appeared to be a leading name in the industry, it was built on misleading claims about the success rates of their traders. Reports have surfaced suggesting the firm manipulated the My Forex Funds evaluation phases. Traders experienced suspicious alterations to spreads, quotes, and even premature trade closures. These moves were intended to unfairly fail traders during the evaluation phase. Worst of all is the fact that the Commodity Futures Trading Commission (CFTC) found My Forex Funds guilty of fraud for stealing over $300 million from their traders. They were forced to shut down all operations and had their assets frozen. While it may seem that justice was served, traders never fully recovered their losses.
Total Transparency: Unlike the shady tactics exposed in the My Forex Funds evaluation process, Axe Trader maintains clear, upfront rules. We guarantee that traders are never cheated out of their payouts or funded accounts. What you see is what you get—no hidden terms or unexpected changes.
Realistic Profit Targets: At Axe Trader, our two-step evaluation is simple and fair. Traders need to hit 8% profit in both phases to qualify for a funded account. Once you pass, the capital is yours to trade with, and you won’t face the manipulation that occurred during the My Forex Funds evaluation phases.
Dedicated to Growth: Axe Trader believes in your success. We provide comprehensive educational resources to help you refine your trading strategies, and we are committed to ensuring that our traders are well-prepared to succeed—unlike firms that set traders up for failure, as seen in the My Forex Funds evaluation scandal.
Sustainable and Fair: While many firms, including My Forex Funds, overpromise and underdeliver, leading to eventual collapse, Axe Trader focuses on sustainable practices. We offer promotions, but always with a primary focus on trader development, ensuring you succeed through skill rather than gimmicks.
While Axe Trader has built a reputation for transparency and fairness, it’s crucial for traders to stay vigilant. The My Forex Funds evaluation fiasco showed that even highly-rated firms can deceive their traders. My Forex Funds boasted very remarkable reviews going as high as 4.9/5 rating with 1000s of reviews, but this was not enough to protect traders from manipulation and fraud.
We urge traders to conduct thorough research before choosing a prop firm. Don’t just rely on surface-level reviews—many firms purchase these reviews to hide their unethical practices. Always read the fine print, understand the evaluation rules, and make sure you’re partnering with a firm like Axe Trader that prioritizes your growth and success.
In conclusion, choosing the right firm is essential to your trading journey. Axe Trader is committed to providing a transparent, fair, and supportive platform where you can trade with confidence. Be cautious in your choices, and avoid falling for firms that mimic the tactics revealed in the My Forex Funds evaluation scandal.
So, are you Ready to take your trading to the next level? Traders get the funding you need with Axe Trader. Follow us on our socials to keep upto date with promos, and new updates to our business operations. Here’s all our Axe Trader social handles:
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Take advantage of our extensive resources, expert support, and a trading environment designed for your long-term success.
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Begin your journey towards becoming a successful trader with Axe Trader: Assume Zero Risk - Keep upto 100% of the simulated profits!
Axe Trader Ltd. offers fee-based assessment services and facilitates connections with third parties for Potential Traders who meet specific criteria defined by Axe Trader (“Eligible Traders”). Our services involve evaluating the simulated trading performance and results of Potential Traders in certain virtual off-exchange foreign currency instrument pairs (“Forex”) and/or selected virtual contracts for differences (“CFDs”). We conduct data analysis based on simulated trading activities in demo accounts traded by Potential Traders through Axe Trader’s platform, utilizing data provided by a third-party broker. Our methods and techniques are established and maintained by Eligible Traders.
Axe Trader grants access to a third-party’s simulated trading platform, related demo accounts, and simulated trading information for the purpose of conducting data analysis and assessment services. This third-party offers Eligible Traders a simulated trading environment and an opportunity to earn a share of virtual trading gains generated in demo accounts, as specified in their agreement with the Eligible Trader.
Additionally, Eligible Traders acknowledge and agree, as outlined in their agreement, that the third party has the right to collect and use the data obtained from Axe Trader for their own benefit, including the option to replicate trading activities based on this data. The third party also retains the right to incorporate any information received from Axe Trader regarding Eligible Traders into actual live market trading, which they will conduct for their own account and at their own risk.
Theoretical performance outcomes should not be considered as reflective of real trading experiences and are typically formulated with the advantage of historical knowledge, which may either overstate or understate the influence of specific market factors such as limited liquidity and price fluctuations. Moreover, since theoretical trading does not carry financial risk, it cannot fully encompass the impact of various risk-related elements, including an individual’s or advisor’s capacity to manage losses or adhere to a specific trading strategy when confronted with trading setbacks.
