MyFundedFX Drops Consistency Rule in Major Policies Changes

MyFundedFX is making major changes to its trading policies after receiving extensive feedback from its community.

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MyFundedFX is making major changes to its trading policies after receiving extensive feedback from its community. The firm has decided to scrap its previously implemented consistency rule, which had been a source of frustration for many traders. This move is effective immediately, allowing traders to access their funds and submit withdrawal requests starting today.

Also, alongside the removal of the consistency rule, MyFundedFX is restoring payout frequencies for funded accounts to their former schedules. This adjustment aims to improve cash flow and provide traders with quicker access to their earnings.

MyFundedFX Consistency Rule, Adjusts Leverage in Major Policies Changes

The firm is also overhauling leverage limits across all trading platforms and account types. New leverage ratios are set at 30:1 for Forex, 10:1 for indices and commodities, and 2:1 for cryptocurrencies. This shift in leverage policy is designed to address high-risk trading behaviors and align with new regulatory standards for CFD leverage. By tightening leverage, MyFundedFX hopes to minimize risky trading strategies and discourage malicious activities such as reverse trading and hedging.

Also, these changes reflect MyFundedFX’s commitment to fostering a more balanced and fair trading environment. The firm anticipates that the updated leverage limits will lead to more consistent trading practices and higher pass rates in challenge phases. By responding to trader concerns and adapting to regulatory requirements, MyFundedFX aims to enhance the overall trading experience and maintain its reputation as a reliable prop trading firm.

In summary, these policy adjustments signify a notable shift in MyFundedFX’s approach, prioritizing trader satisfaction and regulatory compliance while aiming to create a more stable and flexible trading atmosphere.

Key Points

  • MyFundedFX is revamping its trading policies in response to extensive community feedback.
  • The firm is eliminating its consistency rule, effective immediately, allowing traders to access and withdraw their funds.
  • Payout frequencies for funded accounts will be restored to previous schedules for quicker access to earnings.
  • Leverage limits are being updated to 30:1 for Forex, 10:1 for indices and commodities, and 2:1 for cryptocurrencies.
  • These changes aim to promote fair trading, improve cash flow, and comply with new regulatory standards.

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The Funded Trader follows a belief that every retail trader deserves an opportunity to raise capital based on their performance and commitment to building their own business. They are searching for passionate and experienced traders who will succeed with the help of their funds by showing skills in various market conditions.

Bespoke Funding strives to create unique funding opportunities for traders worldwide by creating approachable ways to become a professional, funded trader who can remotely manage their capital. They have developed a user-friendly experience with the industry's best technology to back it.

MyFundedFX offers traders three different challenge programs that aim to provide an opportunity to trade without risking their own capital. Profitable traders receive a payment based on a specific percentage of the profits they make while having no liability on the firm's capital, meaning that they will cover all losses.